David Myles

About David Myles

David C. Myles, Ph.D., age 63, is Olema’s Chief Discovery and Non-Clinical Development Officer (since September 2022), after serving as Chief Development Officer and Executive Vice President, Drug Discovery and Development beginning in April 2008; he is a long-tenured R&D leader at Olema with deep oncology discovery expertise and academic credentials (B.A. Occidental; Ph.D. Yale; NIH post-doc at Harvard) . He previously co-founded Epiphany Biosciences (COO, 2006–2008), led chemistry at Kosan Biosciences (Executive Director, 2001–2006), and medicinal chemistry at Chiron (Associate Director, 1998–2001), and was an Assistant Professor at UCLA (1991–1998), providing bench-to-clinic and organizational leadership experience aligned with Olema’s ER+ breast cancer programs . Olema’s compensation framework ties executive bonuses to corporate milestones (clinical execution, IND filings, pipeline and BD), with 2023 corporate achievement assessed at 125% and 2024 at 107%, indicating above-target operational delivery over the last two years . Olema’s Pay vs. Performance disclosure tracks compensation actually paid versus cumulative TSR, noting that changes were largely driven by equity award adjustments and not directly correlated to TSR, which is important context for equity-heavy biotech pay programs .

Past Roles

External Roles

Fixed Compensation

• David Myles is an executive officer but not a Named Executive Officer (NEO) in the 2024–2025 proxies; Olema’s Summary Compensation Tables disclose cash/equity pay only for NEOs (CEO, COO/CFO, CMO), so base salary, target bonus, and actual bonus for Myles are not separately disclosed .

Performance Compensation

Olema’s executive bonus program applies to executive officers and is tied to annual corporate milestones; individual target percentages disclosed for NEOs, but not for Myles specifically. The corporate metrics and achievement outcomes are below.

• Executives are eligible for time-based options under the 2020 Plan with standard vesting structures (25% after one year, then monthly over 36 months, or monthly over 48 months; 10-year term), subject to insider policies and potential acceleration in certain NEO cases; specific grant sizes for Myles are not disclosed .

Equity Ownership & Alignment

• Security ownership tables list NEOs and directors with share counts; Myles is not individually listed, so his total beneficial ownership and vested/unvested breakdown are not disclosed. He is included within “all executive officers and directors as a group (14 persons)” totaling 12,152,409 shares (16.36%) as of April 21, 2025, but no individual breakdown is provided for him .
• Hedging and pledging are prohibited by Olema’s Insider Trading Policy for all employees and directors, which reduces misalignment and forced selling risks; the policy bars short sales, margin accounts, pledging, and derivatives (puts/calls, collars, swaps, exchange funds) .
• Olema’s Clawback Policy (Nasdaq 5608; Rule 10D‑1) is in place, enabling incentive compensation recoupment under specified conditions .
• Insider Trading Policy reference: filed as an exhibit to Olema’s 2024 Form 10‑K .

Employment Terms

• Olema provides detailed severance and change‑in‑control economics for NEOs (CEO, COO/CFO, CMO): outside of CIC period—12 months base salary (18 months CEO), up to 12 months COBRA (18 months CEO), prorated annual bonus eligibility; certain time‑based equity acceleration applies (CEO: next 12 months’ vesting; COO/CFO & CMO: 50% of time‑based new‑hire equity). Within CIC period—12 months base plus target bonus (18 months CEO) paid lump sum, up to 12/18 months COBRA, full acceleration of time‑based equity; performance RSU (PSU) acceleration tied to financing and clinical milestones as specified for PSU grantees. Myles’ individual employment terms and any severance/CIC specifics are not disclosed .
• Option grants generally vest on standard schedules and remain exercisable for three months post-termination (except for cause/disability/death) per plan terms; this applies broadly to executive options under the 2020/2014/Inducement Plans; Myles’ specific award counts and schedules are not separately disclosed .

Compensation Peer Group (2024)

Olema’s Compensation Committee (with Aon as consultant) used a 28-company biotech peer group for benchmarking stage, oncology focus, market cap, headcount, and location; this peer set informs target pay levels and equity grant sizing.

Say‑on‑Pay & Shareholder Feedback

Equity Policies and Perquisites

• 401(k) with company match up to 4% of base salary; standard benefits (medical/dental/vision/life/disability/AD&D) available to executives on the same basis as employees .
• Perquisites are minimal and broadly consistent; hedging/pledging prohibited; a relocation policy exists (lump sum $15,000–$100,000 plus tax gross-up); a 2021 relocation tax gross‑up was paid to the COO/CFO (not to Myles) .

Investment Implications

• Retention risk appears moderate-to-low given Myles’ 17+ years of tenure at Olema and continued senior role since 2022; however, lack of individual severance/CIC disclosure for Myles limits visibility into his downside protection and potential acceleration terms, which can influence departure timing in strategic scenarios .
• Alignment signals are net positive: strict hedging/pledging prohibitions, established clawback policy, and milestone‑based bonus framework emphasize clinical execution; above‑target corporate achievement in 2023 (125%) and 2024 (107%) underscores operational delivery in programs directly relevant to Myles’ remit .
• Ownership transparency is a gap: Myles is not individually enumerated in beneficial ownership tables, reducing precision on skin‑in‑the‑game and potential selling pressure; monitor future proxies or Form 4 filings for award disclosures and any sales activity .
• Peer group breadth and strong say‑on‑pay support (~90% in 2023; >98% in 2024) suggest compensation governance is broadly accepted, mitigating pay inflation and misalignment risks for senior R&D leaders like Myles .