Yi Larson
About Yi Larson
Independent Class III director at Olema Pharmaceuticals (term expires 2026); age 45; has served on the Board since April 2021. Former CFO at LianBio and Turning Point Therapeutics; currently President & CEO of Expedition Therapeutics (since April 2024). Education: MBA (Wharton), M.Eng. and S.B. in Electrical Engineering from MIT, with extensive capital markets and healthcare banking experience as a Goldman Sachs Managing Director. The Board affirms her independence under Nasdaq standards.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| LianBio | Chief Financial Officer | May 2021 – Dec 2023 | Led finance; strategic transactions (company disclosure) |
| Turning Point Therapeutics | EVP & Chief Financial Officer | Aug 2019 – Mar 2021 | Finance leadership at precision oncology company |
| Goldman Sachs & Co. LLC | Managing Director, Healthcare Investment Banking (various roles since 2008) | 2008 – 2019 | Advised biopharma boards on equity/debt/M&A |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Expedition Therapeutics Inc. | President & Chief Executive Officer | Apr 2024 – present | Global biotechnology development company |
| RayzeBio, Inc. | Director | Apr 2021 – Feb 2024 | Company acquired by Bristol Myers Squibb Feb 2024 |
Board Governance
- Committee assignments: Nominating & Corporate Governance Committee member; committee met 4 times in 2024; Chair is Ian Clark (Larson is not Chair).
- Independence: Board determined Larson is independent under Nasdaq standards.
- Attendance: Board met 8 times in 2024; each director attended at least 75% of aggregate Board and committee meetings during their service; independent directors held 3 executive sessions (Chair presided).
- Board leadership: Independent Chairperson of the Board (Ian Clark); CEO and Chair roles separated.
- Nominating & Corporate Governance responsibilities include board composition, committee chair recommendations, governance guidelines, board evaluations; Larson participates on this committee.
Fixed Compensation
| Component | 2023 ($) | 2024 ($) |
|---|---|---|
| Annual Board Cash Retainer | $40,000 | $40,000 |
| Committee Member Cash Retainer (Nominating & Corporate Governance) | $5,000 | $5,000 |
| Total Cash Fees Paid | $45,000 | $45,000 |
- Policy changes: As of March 18, 2025, cash retainers adjusted for Audit and Compensation committees (members and chairs) effective July 1, 2025; Nominating & Corporate Governance retainers remain at $5,000.
Performance Compensation
| Equity Award Terms | 2023 | 2024 | Vesting/Mechanics |
|---|---|---|---|
| Annual Non-Employee Director Option Grant (shares) | 21,520 shares (policy in effect until Jun 1, 2024) | 23,000 shares (policy effective Jun 1, 2024) | Vests by next annual meeting or first anniversary, subject to continuous service; 10-year term. |
| Initial Director Option Grant (on appointment) | 21,520 shares | 23,000 shares | Same vesting mechanics as above. |
| Annual Option Grant Fair Value (Larson) | $118,145 | $200,790 | |
| Policy Update (Equity) | — | Annual and initial grants increased to 24,150 shares (effective Mar 18, 2025). | Same vesting mechanics under 2020 Plan. |
- Equity grant process: Grants occur on a standard schedule; Compensation Committee does not time awards to MNPI releases.
Other Directorships & Interlocks
| Company | Role | Overlap/Interlock | Notes |
|---|---|---|---|
| RayzeBio, Inc. | Director | None disclosed with OLMA | Tenure ended upon BMS acquisition (Feb 2024). |
- No Larson-specific related-party transactions disclosed; related-party transactions during 2023–2025 involved certain >5% holders and board-affiliated funds, but do not identify Larson.
Expertise & Qualifications
- Finance and capital markets: Former Goldman Sachs Managing Director advising biopharma boards on equity, debt, and M&A; CFO roles at LianBio and Turning Point Therapeutics.
- Executive leadership: Current CEO of Expedition Therapeutics.
- Education: MBA (Wharton); M.Eng. and S.B. in Electrical Engineering (MIT).
- Board statement cites “extensive global operational expertise” and “capital markets and healthcare banking experience.”
Equity Ownership
| Holder | Shares Owned/Beneficial | % Outstanding | Composition/Status |
|---|---|---|---|
| Yi Larson | 112,853 shares issuable upon outstanding stock options exercisable within 60 days | <1% | Beneficial ownership consists solely of options; no common shares of record disclosed in proxy table. |
- Hedging/pledging: Company insider trading policy prohibits short sales, margin accounts, pledging, and hedging for directors, officers, and employees.
- Ownership guidelines: No director stock ownership guideline disclosure found in proxy. (Not disclosed)
- Section 16 compliance: 2024 filings were timely for directors, with one corrected Form 4 for another director; no Larson-specific delinquencies noted.
Governance Assessment
- Independence and attendance: Independent director with satisfactory attendance and active committee service; governance structure features an independent Chair and regular executive sessions—supportive of board effectiveness.
- Compensation mix and alignment: 2024 director pay for Larson is predominantly equity ($200,790 fair value options) with modest fixed cash ($45,000), aligning director incentives with shareholder outcomes; YoY equity grant value increased consistent with policy updates.
- Committee contributions: Service on Nominating & Corporate Governance (board composition, evaluations, governance guidelines), leveraging finance and transaction expertise in boardroom oversight.
- Conflicts/related parties: No Larson-related party transactions identified; her external CEO role at Expedition Therapeutics is disclosed, with no reported overlap or transactions with OLMA. Company maintains a formal Related Person Transactions Policy with Audit Committee oversight.
- Risk indicators: Hedging/pledging prohibited; Clawback Policy adopted under Nasdaq Rule 5608; no Larson-specific legal or SEC issues disclosed.
Overall signal: Strong independence and committee engagement, equity-heavy director compensation, and absence of disclosed conflicts support investor confidence in Yi Larson’s governance profile. Continued monitoring of external CEO time commitments and any future related-party interactions remains prudent.
