Christopher Turner
About Christopher Turner
Christopher D. Turner, M.D., is Chief Medical Officer of Nuvalent, Inc., a role he has held since March 2021; he is 57 years old . He is board certified in Pediatrics and Pediatric Hematology/Oncology, with a B.A. in biochemistry from Bowdoin College and an M.D. from the University of Rochester; he completed residency at Children’s National and fellowships at Duke, and previously led the Pediatric Neuro-Oncology Outcomes Clinic at Dana-Farber/Children’s Hospital Boston . Track record includes leading development of ICLUSIG (ponatinib) and ALUNBRIG (brigatinib) at ARIAD and overseeing the approval of GAVRETO (pralsetinib) in RET+ NSCLC and thyroid cancer at Blueprint Medicines . Nuvalent's pay-versus-performance disclosure shows strong cumulative TSR since 2022 alongside clinical-stage net losses (see table below) .
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Total Shareholder Return ($ value of $100) | 156.41 | 386.50 | 411.13 |
| Net Loss ($ thousands) | (81,854) | (126,219) | (260,756) |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Blueprint Medicines | Vice President, Clinical Development | 2018–2021 | Oversaw development and approval of GAVRETO (RET+ NSCLC/thyroid) |
| Celldex Therapeutics | Vice President, Clinical Science | 2014–2018 | Led ADC and immuno-oncology pipeline programs |
| ARIAD Pharmaceuticals | Various roles incl. Head of Clinical Research | 2008–2014 | Led development of ICLUSIG (ponatinib) and ALUNBRIG (brigatinib) |
| Dana-Farber/Children’s Hospital Boston | Director, Pediatric Neuro-Oncology Outcomes Clinic; Instructor, Harvard Medical School | Pre-2008 | Clinical leadership and academic roles; pediatric oncology outcomes focus |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| American Academy of Pediatrics | Fellow | N/A | Professional accreditation and standards engagement |
Fixed Compensation
| Component | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary ($) | 462,300 | 480,800 | 500,100 |
| Stock Awards ($) | — | — | 2,409,255 |
| Option Awards ($) | 1,365,538 | 2,852,237 | 2,370,481 |
| Non-Equity Incentive Plan Compensation ($) | 231,150 | 250,016 | 250,050 |
| All Other Compensation ($) | 20,806 | 20,154 | 21,054 |
| Total ($) | 2,079,794 | 3,603,207 | 5,550,940 |
Additional details:
- 2024 base salary increased 4% to $500,100; target annual bonus set at 40% of base salary .
- “All Other Compensation” includes employer 401(k) match and life insurance premiums ($20,700 and $354, respectively, for 2024) .
Performance Compensation
| Metric/Instrument | Weighting | Target | Actual/Payout | Vesting/Structure |
|---|---|---|---|---|
| 2024 Cash Bonus | 100% corporate goals | 40% of base ($200,040) | 125% corporate score → $250,050 | Cash; paid after year-end |
| 2024 Stock Options (Grant 1/5/2024) | N/A (retentive) | 47,500 options | N/A | Exercise price $72.35; vests monthly over 48 months |
| 2024 RSUs (Grant 1/5/2024) | N/A (retentive) | 33,300 RSUs | N/A | Vests in 3 equal annual tranches over 3 years |
| 2025 PSUs | N/A | Introduced across employees/NEOs | Not yet reported | Equity earned on pre-set performance goals (details not disclosed) |
2024 corporate goals covered pipeline execution (ARROS-1, ALKOVE-1, ALKAZAR prep), NVL-330 Phase 1 initiation, portfolio expansion, and financing; compensation committee assessed corporate performance at 125% based on over-delivery on program execution and financing milestones .
Equity Ownership & Alignment
| Item | Value |
|---|---|
| Beneficial Ownership (Class A) | 519,779 shares; less than 1% of outstanding |
| Options Exercisable (≤60 days of 3/31/2025) | 498,182 shares |
| Unvested RSUs at 12/31/2024 | 33,300 units; $2,606,724 market value at $78.28/share |
| 2024 Option Grants Outstanding | 10,885 exercisable; 36,615 unexercisable (ex. price $72.35; exp. 1/5/2034) |
| Hedging/Pledging | Prohibited by insider trading policy and “What We Don’t Do” governance |
| 2024 Insider Option Exercises | 0 shares; no value realized |
| Rule 10b5-1 Plans | Allowed; may be adopted by executives |
Alignment notes:
- Heavy equity exposure via options and RSUs with multi-year vesting schedules; 2025 PSUs add performance linkage to long-term value .
- Anti-hedging/pledging reduces misalignment risk .
Employment Terms
| Provision | Outside Change-in-Control (CIC) | CIC (Double Trigger during 12-month “Change in Control Period”) |
|---|---|---|
| Cash Severance | 9 months base salary | 18 months base salary + 1× target bonus |
| Benefits Continuation | Up to 9 months employer health contribution | Up to 18 months employer health contribution |
| Equity Vesting | No acceleration disclosed | Full acceleration of time-based equity upon qualifying termination |
| Tax Treatment | 280G cutback to maximize after-tax benefit (no gross-up) | 280G cutback to maximize after-tax benefit (no gross-up) |
| Agreements | Employee confidentiality/assignment/noncompetition agreement (2/23/2021) | Same |
| Clawback | Nasdaq-compliant clawback policy for incentive compensation on material restatement | |
| Anti-Hedging | Short sales, options/derivatives and hedging prohibited |
Investment Implications
- Pay-for-performance linkage strengthened: Cash bonuses tied 100% to corporate milestones (execution-heavy levers), and addition of PSUs in 2025 increases long-term alignment with value creation amid pivotal readouts and potential NDA submission timelines .
- Retention and selling pressure: Turner had no option exercises in 2024, but sizable time-based awards and RSUs vest over the next 1–3 years; anti-hedging/pledging mitigates misalignment, while double-trigger CIC acceleration could modestly raise post-close turnover risk if a sale occurs .
- Ownership and skin-in-the-game: Beneficial ownership is primarily via options with low direct share ownership (<1%), typical for clinical-stage executives; the company’s clawback policy and anti-hedging reduce governance risk; absence of excessive perquisites and no tax gross-ups are shareholder-friendly .
- Benchmarking and shareholder support: Compensation is peer-referenced and received high say-on-pay support (97.6% in 2024; 2025 say-on-pay passed) indicating investor acceptance of the pay mix given pipeline momentum .