Enrique Poradosu
About Enrique Poradosu
Enrique Poradosu, PhD (age 59), co-founded Nuvectis Pharma and has served as Executive Vice President, Chief Scientific & Business Officer since 2020; he holds a BSc in Chemistry & Biology (with distinction) and a PhD in Biochemistry from the Hebrew University of Jerusalem . Prior roles include SVP, Business & Scientific Strategy at Stemline Therapeutics (2016–2020), VP Business & Scientific Strategy at Keryx Biopharmaceuticals (2003–2016), and project manager at a private biomedical incubator (1998–2003), reflecting deep licensing, pipeline strategy, and early-stage development execution experience . The proxy ties annual bonuses to “achievement of certain Company goals and objectives” without disclosing specific performance metrics (e.g., revenue/EBITDA/TSR targets) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Stemline Therapeutics, Inc. | SVP, Business & Scientific Strategy | 2016–2020 | Led licensing and scientific strategy; directed strategic planning and operational execution of early-stage programs |
| Keryx Biopharmaceuticals, Inc. | VP, Business & Scientific Strategy | 2003–2016 | Drove pipeline scientific and business strategy across long tenure |
| Private biomedical incubator | Project Manager | 1998–2003 | Managed biomedical projects at an incubator |
External Roles
No external public company board roles disclosed in NVCT proxy biographies for Poradosu .
Fixed Compensation
- Employment agreement dated February 4, 2022: initial annual base salary $400,000, with annual increases at least CPI or Compensation Committee-determined .
Multi-year cash compensation:
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Salary ($) | $349,072 | $454,750 | $468,847 |
| Bonus ($) | $200,000 (IPO-related) | $250,750 (Company goals; portion later paid) | $257,866 (Company goals) |
| Total ($) | $970,272 | $1,563,400 | $1,814,813 |
Notes:
- On March 14, 2025, $200,000 related to the 2023 bonus was paid .
- Bonuses are stated as earned upon achievement of Company goals/objectives; specific performance metrics/weightings are not disclosed .
Performance Compensation
Annual cash bonus framework (metrics not fully disclosed):
| Component | Metric | Weighting | Target | Actual | Payout | Vesting/Timing |
|---|---|---|---|---|---|---|
| FY 2022 Bonus | Completion of IPO | Not disclosed | Not disclosed | $200,000 | Cash | Earned 2022 |
| FY 2023 Bonus | Company goals/objectives | Not disclosed | Not disclosed | $250,750 | Cash; $200,000 paid 3/14/2025 | Earned 2023 |
| FY 2024 Bonus | Company goals/objectives | Not disclosed | Not disclosed | $257,866 | Cash (unpaid as of proxy) | Earned 2024 |
Equity awards (restricted stock) and vesting:
| Grant Date | Shares | Vesting Schedule |
|---|---|---|
| Jul 27, 2021 | 48,399 | Vests Jul 15, 2025 |
| Apr 1, 2022 | 60,000 | Vests Jul 15, 2025 |
| Jan 12, 2023 | 115,000 | Vests two-thirds Jul 15, 2025; one-third Jan 11, 2026 |
| Jan 3, 2024 | 130,000 | Vests one-third Jul 15, 2025; one-third Jan 3, 2026; one-third Jan 3, 2027 |
| Jan 2, 2025 | 150,000 | Vests one-third each anniversary over 3 years |
Outstanding equity awards at 12/31/2024 (market value at $5.41/share):
| Instrument | Unvested Shares (#) | Market Value ($) |
|---|---|---|
| 2021 RS | 48,399 | $261,839 |
| 2022 RS | 60,000 | $324,600 |
| 2023 RS | 115,000 | $622,150 |
| 2024 RS | 130,000 | $703,300 |
Policy & practices:
- Equity awards are not timed around material non-public information; option strike equals market on grant date (Company did not grant options to NEOs in 2024) .
- Hedging and pledging of Company securities are prohibited for officers/directors/employees .
Equity Ownership & Alignment
Beneficial ownership (Company-reported):
| Metric | As of Apr 24, 2023 | As of Apr 15, 2024 | As of Apr 14, 2025 |
|---|---|---|---|
| Shares Beneficially Owned | 1,373,819 | 1,503,819 | 1,656,319 |
| % of Shares Outstanding | 8.72% | 8.19% | 7.02% |
Breakdown and alignment signals:
- Significant unvested restricted stock: multiple tranches vest on Jul 15, 2025 (48,399; 60,000; and two-thirds of 115,000; plus one-third of 130,000), creating a concentrated vesting event .
- 2025 grant adds three-year vesting cadence through 2028 .
- Hedging/pledging prohibited by policy (positive alignment; reduces leverage/hedge misalignment risk) .
- Stock ownership guidelines for executives not disclosed in proxies .
Employment Terms
- Severance (no-cause, Good Reason, Death/Disability, Change of Control “Transaction”): immediate acceleration of all unvested restricted stock/options; one-time cash payment equal to two years of then annual base salary, plus prior-year bonus if unpaid, pro-rata current-year target bonus, accrued benefits/vacation, expense reimbursement, and continued D&O coverage; payment within 60 days post-termination .
- Change-of-Control economics (single-trigger cash): upon a Transaction during employment, payment of the termination benefits above is due regardless of whether employment terminates; after the Transaction, future termination does not trigger the same severance (but 18 months of employer-cost equivalent health coverage applies upon subsequent termination) .
- For-cause termination: only accrued unpaid base salary and accrued unused vacation, paid within 30 days .
- Non-compete, non-solicit, clawback, tax gross-ups: not disclosed in proxies .
Investment Implications
- High equity alignment with meaningful stake (7.02% of shares outstanding as of Apr 14, 2025), alongside sizable unvested RS positions that align incentives to equity value accretion .
- Insider selling pressure risk is elevated around Jul 15, 2025 due to multiple tranches vesting on the same date (2021, 2022, and portions of 2023/2024 grants) .
- Single-trigger change-of-control cash severance and blanket acceleration of equity on termination/Transaction are shareholder-unfriendly features; they can reduce retention post-Transaction and dilute pay-for-performance alignment .
- Cash bonuses are linked to “Company goals/objectives” without disclosed metric detail, weighting, or thresholds, limiting transparency into pay-for-performance calibration .
- Hedging/pledging prohibitions support alignment (mitigates collateral/hedge conflicts), but absence of disclosed clawbacks and ownership guidelines is a governance gap .
Key watch items: monitor Form 4 activity around July 2025 vesting, any 8-K 5.02 amendments to employment terms, and future proxy disclosure on bonus metrics to assess alignment trajectory.
Citations
- Executive biography, age, role, education:
- Compensation tables, bonus payments, salary:
- Equity awards, vest schedules, outstanding RS market values:
- Beneficial ownership counts and percentages:
- Severance and change-of-control terms:
- Hedging/pledging policy; award timing policy: