Paul Silva
About Paul Silva
Paul M. Silva, age 59, has served as an independent director of Nurix Therapeutics since October 2021. He is a biotechnology finance and operations leader with 30+ years of experience, including serving as Senior Vice President and Chief Accounting Officer at Vertex Pharmaceuticals (2011–2021) and interim Chief Financial Officer (Jan–Apr 2019). He holds a B.S. in accounting from Assumption College and currently serves on the board of Rapport Therapeutics, Inc. . He is deemed independent under Nasdaq rules and is the Audit Committee chair; he is also designated an “audit committee financial expert.” Effective at the conclusion of the 2025 Annual Meeting, he will join the Compensation Committee and transition off the Nominating & Corporate Governance Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Vertex Pharmaceuticals Incorporated | SVP, Chief Accounting Officer | Apr 2011–Apr 2021 | Led accounting and controls for global biotech; interim CFO Jan–Apr 2019 . |
| Vertex Pharmaceuticals Incorporated | Interim Chief Financial Officer | Jan 2019–Apr 2019 | Senior finance leadership during transition . |
| Vertex Pharmaceuticals Incorporated | VP & Corporate Controller | Sep 2008–Apr 2011 | Corporate controllership . |
| Iron Mountain Incorporated | Finance/Operations roles | Prior to 2007 | Finance and operations experience . |
| Thermo Electron Corporation | Finance/Operations roles | Prior to 2007 | Finance and operations experience . |
| Anderson LLP | Positions in accounting | Prior to 2007 | Early career in accounting . |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Rapport Therapeutics, Inc. | Director | Current | Board service; committee details not disclosed . |
Board Governance
- Committee assignments: Audit Committee (Chair); Nominating & Corporate Governance Committee member until the 2025 Annual Meeting; will join Compensation Committee effective at the conclusion of the 2025 Annual Meeting .
- Independence: The Board determined Silva is independent under SEC and Nasdaq listing requirements; he is one of eight independent directors among nine incumbents .
- Financial expertise: The Board designated Silva as an “audit committee financial expert” under Item 407(d)(5)(ii) of Regulation S-K .
- Attendance: In FY2024 the Board met 5 times; Audit 5; Compensation 6; Nominating & Corporate Governance 5; Clinical & Commercialization 6; no director attended fewer than 75% of meetings of the Board and committees on which they served .
- Board leadership: The Chair of the Board is Julia P. Gregory; the CEO and Chair roles are separated .
Fixed Compensation
| Component (FY2024) | Amount ($) | Notes |
|---|---|---|
| Annual Director Cash Retainer | 50,000 | Standard non-employee director retainer . |
| Audit Committee Member Fee | 7,500 | Member fee (non-chair) . |
| Nominating & Corporate Governance Member Fee | 5,000 | Member fee . |
| Committee Chair Fees | — | Not applicable to Silva in FY2024; Audit chair assumed 1/28/2025 . |
| Total Fees Earned (Silva) | 62,500 | Per director compensation table . |
Performance Compensation
| Equity Element | Grant Date | Shares/Units | Exercise Price ($) | Vesting | Grant-Date Fair Value ($) |
|---|---|---|---|---|---|
| Director Annual Option Grant | 2024-05-20 | 25,000 | 16.19 | Fully vests at 1 year from grant (or next annual meeting) | 276,179 (aggregate FY2024 option award to Silva) |
| Director Annual Option Grant | 2025-05-19 | 25,000 | 9.51 | Fully vests at 1 year from grant (or next annual meeting) | Not disclosed (FY2025 grant value not tabulated yet) |
| Initial Director Option Grant (historical) | Various | 50,000 (program) | FMV at grant | Vests monthly over 36 months | Not disclosed |
- Performance metrics: Director equity grants are time-based (options); no performance-conditioned metrics (e.g., TSR, revenue) disclosed for directors .
- Outstanding options (as of 11/30/2024): 102,500 options held by Silva .
Insider Form 4 activity (director equity awards):
| Filing Date | Transaction Date | Type | Shares | Price ($) | Security | Source |
|---|---|---|---|---|---|---|
| 2024-05-20 | 2024-05-20 | Award (Option) | 25,000 | 16.19 | Director Stock Option | https://www.sec.gov/Archives/edgar/data/1549595/000154959524000069/0001549595-24-000069-index.htm |
| 2025-05-19 | 2025-05-19 | Award (Option) | 25,000 | 9.51 | Director Stock Option | https://www.sec.gov/Archives/edgar/data/1549595/000154959525000083/0001549595-25-000083-index.htm |
Other Directorships & Interlocks
| Company | Role | Potential Interlock/Conflict |
|---|---|---|
| Rapport Therapeutics, Inc. | Director | No related-party transactions with NRIX >$120,000 disclosed; policy requires Audit Committee review for any such transactions . |
Expertise & Qualifications
- Designated audit committee financial expert; extensive finance, accounting, and internal control experience in biotech, including CAO and interim CFO at Vertex .
- Industry experience across biotech and life sciences; prior roles at Iron Mountain, Thermo Electron, and Anderson LLP .
- Education: B.S. in accounting from Assumption College .
Equity Ownership
| Holder | Beneficial Ownership (#) | Percent of Outstanding (%) | Breakdown |
|---|---|---|---|
| Paul M. Silva | 102,500 | <1% | Options exercisable within 60 days of 3/21/2025 (no direct share holdings disclosed) . |
- Anti-hedging/pledging: Company policy prohibits hedging and generally pledging of company securities by directors and officers (with limited pre-approval exceptions). No pledging/hedging by Silva is disclosed .
- Ownership guidelines: Director stock ownership guidelines not disclosed; executive clawback policy compliant with SEC/Nasdaq is in place .
Governance Assessment
- Strengths: Independent director; Audit Committee chair and designated financial expert; solid committee engagement; no related-party transactions involving Silva; robust insider trading and clawback policies support governance quality .
- Alignment: Annual option grants and ongoing service indicate continuing equity-based alignment; insider filings confirm regular annual director option awards (see Form 4 links above).
- Attendance/engagement: No director fell below 75% attendance; Board and committees met regularly, indicating active oversight .
- Potential risks/red flags: None evident—no legal proceedings or related-party exposure disclosed; say-on-pay support was strong (88.3%), signaling overall investor confidence in compensation governance .
- Upcoming changes: Silva will add Compensation Committee responsibilities and exit Nominating, broadening pay oversight while reducing governance committee load—net effect likely positive for audit/compensation effectiveness .