Huma Qamar
OcugenAbout Huma Qamar
Huma Qamar, M.D., MPH, CMI, age 41, has served as Ocugen’s Chief Medical Officer since March 18, 2024, and became an executive officer the same day. She holds an M.D. from Army Medical College Rawalpindi and an MPH from Thomas Jefferson College of Population Health, with deep clinical development experience across gene and cell therapy, vaccines, oncology and multiple other therapeutic areas . In 2024, Ocugen’s compensation committee cited strong progress in clinical programs and a 64% year-to-date TSR versus 6% for the Nasdaq Biotechnology Index when evaluating annual incentives, underscoring performance alignment during her tenure .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Medicus Pharma Ltd (NASDAQ: MDCX) | Chief Scientific Officer | Oct 2023–Mar 2024 | Led scientific programs prior to joining Ocugen . |
| Ocugen, Inc. | Assistant VP/VP, Head of Clinical Development & Clinical Operations | Sep 2021–Nov 2023 | Instrumental in overseeing vaccine and Phase 1/2 RP trials . |
| Quantum BioPharma Ltd (formerly FSD Pharma Inc.) | Senior Vice President | Jan 2021–Aug 2021 | Senior leadership across clinical programs . |
| Fox Chase Cancer Center | Director, Investigator Sponsored Research Unit | Sep 2018–Dec 2020 | Built ISRU capabilities and compliance processes . |
External Roles
| Institution | Role | Years | Strategic Impact |
|---|---|---|---|
| Yale University | Clinical research roles | Not disclosed | Contributed to protocol development and execution . |
| Harvard University | Clinical research roles | Not disclosed | Supported multi-therapeutic area research excellence . |
| University of Pennsylvania | Clinical research roles | Not disclosed | Led audits, FDA inspections, and medical affairs management . |
Fixed Compensation
| Component | 2024 Value | Notes |
|---|---|---|
| Base Salary | $435,000 | Per executive employment agreement dated Mar 18, 2024 . |
| Target Bonus % | 45% of base | Annual incentive target set by Board for 2024 . |
| Actual Annual Bonus (2024) | $158,362 | Based on corporate and individual metrics . |
| Sign-on Bonus | $100,000 | Subject to full repayment if departure before first anniversary . |
Performance Compensation
Equity Awards
| Grant Date | Type | Shares/Units | Exercise Price | Grant Date Fair Value | Vesting |
|---|---|---|---|---|---|
| Apr 16, 2024 | Stock Options | 308,465 | $1.59/sh | $490,459.35 | Options generally 10-year term; this grant expires Apr 16, 2034 . |
| Apr 16, 2024 | PSUs (market-based) | 256,885 | — | $206,792 (RSU market value proxy at 12/31/2024) | Cliff vest after requisite service period ending Dec 31, 2026; earnout 0–200% based on TSR vs Nasdaq Biotechnology Index . |
Incentive Plan Design and Metrics
| Element | Metric | Weighting | Target | Actual/Payout | Vesting/Timing |
|---|---|---|---|---|---|
| Annual Cash Incentive (2024) | Corporate and individual goals (pipeline advancement; BD; ops/manufacturing; financial execution; corporate responsibility/talent) | Not disclosed | 45% of salary = $195,750 (computed from $435,000 and 45%) | $158,362 paid (≈81% of target; computed) | Paid for FY2024 performance . |
| PSUs (2024 grant) | Relative TSR vs Nasdaq Biotechnology Index | 50% of LTI mix (PSAs), with 50% time-based options | Earnout 0–200% of target units | Not yet determinable prior to Dec 31, 2026 | Cliff vest Dec 31, 2026; fair value via Monte Carlo; not adjusted for actual achievement . |
Notes:
- In Dec 2023, Ocugen shifted LTI mix from 50% RSUs/50% options to 50% performance share awards (PSAs; market-based PSUs)/50% time-based options to enhance pay-for-performance .
- Expense recognition for market-based PSUs is ratable over service period and not adjusted for actual market goal outcomes .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total Beneficial Ownership (Apr 14, 2025) | 107,258 shares (<1% of outstanding) . |
| Composition | 4,436 common shares and 102,822 options exercisable within 60 days . |
| Outstanding Awards (12/31/2024) | 308,465 unexercisable options at $1.59 (expire 4/16/2034) and 256,885 unvested PSUs . |
| Ownership Guidelines | Compensation Committee determines CEO/EO guidelines (specific multiples not disclosed) . |
| Hedging/Pledging | Company insider trading policy prohibits hedging and pledging of company stock . |
| Evergreen/Dilution Context | 2019 Plan has 4% annual evergreen; options/RSUs/PSUs and inducements outstanding company-wide . |
Employment Terms
| Term | Provision |
|---|---|
| Start Date / Role | Chief Medical Officer effective Mar 18, 2024 . |
| Base/Bonus | Base $435,000; target annual bonus up to 45% of base, subject to performance criteria . |
| Sign-on | $100,000 sign-on bonus; full repayment if leaving before first anniversary . |
| Severance (no CIC) | If terminated without cause or resigns for good reason: 12 months base salary continuation and employer portion of COBRA for up to 12 months (earlier if covered elsewhere) . |
| Change-in-Control (double-trigger) | If terminated without cause or for good reason within 3 months prior to or 12 months after a change in control: lump sum equal to 75% of then-current target bonus and full acceleration of all unvested equity . |
| Clawback | Amended and restated compensation recovery policy (Sep 15, 2023) requires recoupment of incentive-based comp tied to financial measures upon required restatement, regardless of fault; 3-year lookback . |
| Confidentiality/IP | NEOs subject to Non-Disclosure and Business Ideas Agreement . |
Performance & Track Record
- Built and leads Ocugen’s clinical function for modifier gene therapy programs; management highlighted her effectiveness in managing trials and establishing relationships with leading institutions and KOLs .
- 2024 Board incentive evaluation cited advancement across three gene therapy programs and a 64% YTD TSR versus 6% Nasdaq Biotechnology Index, reflecting improved investor returns during the period .
Compensation Committee Analysis
- Compensation Committee engages FW Cook as independent advisor for executive compensation design, peer data and recommendations; FW Cook updates market developments and advises on program structure .
- LTI mix revised for 2024 to emphasize performance shares, increasing at-risk pay tied to long-term shareholder outcomes .
Investment Implications
- Alignment: Market-based PSUs with 0–200% earnout on relative TSR and prohibition of hedging/pledging create direct linkage to shareholder returns and mitigate misalignment risk .
- Retention: Double-trigger CIC protection with full acceleration plus 12-month severance absent CIC reduces near-term departure risk; sign-on clawback through Mar 2025 further deters early exit .
- Selling pressure: Options granted Apr 2024 begin to become exercisable (102,822 options exercisable within 60 days as of Apr 14, 2025), but major PSU cliff vesting occurs Dec 31, 2026, limiting large near-term release .
- Governance safeguards: Comprehensive clawback policy and continued use of independent consultant support disciplined pay-for-performance oversight .
- Dilution context: Company-wide equity plan evergreen (up to 4% annually) and broader option/warrant overhang warrant monitoring when assessing aggregate supply, though individual officer grants are modest relative to float .