Dominic Piscitelli
About Dominic Piscitelli
Dominic Piscitelli, age 51, is Chief Financial Officer of ORIC Pharmaceuticals and has served in this role since September 2019. He holds an MBA and a BS in accounting and finance from Hofstra University, and previously held senior finance roles at AnaptysBio (CFO, 2017–2019) and Medivation (VP Finance, 2012–2017), with earlier positions at Astellas Pharma US and OSI Pharmaceuticals . As CFO, he signed ORIC’s Q4/FY2024 results 8‑K and has been central to capital strategy, including a $125M private placement that strengthened cash runway into late 2026 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| AnaptysBio, Inc. | Chief Financial Officer | 2017–2019 | Senior finance leadership at public biotech |
| Medivation, Inc. | Vice President of Finance | 2012–2017 | VP Finance; company was acquired by Pfizer in 2016 |
| Astellas Pharma US | Various finance positions | — | Finance roles at large pharma |
| OSI Pharmaceuticals, Inc. | Various finance positions | — | Finance roles; OSI acquired by Astellas |
External Roles
| Organization | Role | Years |
|---|---|---|
| Celyad Oncology SA | Board of Directors; Audit & Compensation Committees | Current |
| Alterome Therapeutics, Inc. | Board of Directors | Current |
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | $435,584 | $458,083 |
| Target Bonus (%) | 40% of base | 40% of base; increased to 40% with 2025 comp approval |
| Actual Annual Bonus Paid ($) | $204,800 (paid 2024) | $210,800 (paid 2025) |
| All Other Compensation ($) | $14,358 | $15,272 |
Notes:
- 2025 current base salary effective Feb 1, 2025: $485,000; target bonus remains 40% .
- Bonus plan funded at 117.5% of target in 2023 and 115% in 2024, based on product development/pipeline and corporate development objectives .
Performance Compensation
| Component | Grant/Period | Metric/Structure | Target | Actual | Payout/Vesting |
|---|---|---|---|---|---|
| Non‑Equity Incentive | FY2023 | Company objectives (product development/pipeline; corporate development) | 100% of target bonus | Funded at 117.5% | $204,800 cash; paid in 2024 |
| Non‑Equity Incentive | FY2024 | Company objectives (product development/pipeline; corporate development) | 100% of target bonus | Funded at 115% | $210,800 cash; paid in 2025 |
| Stock Awards (RSUs) | 2023 Grants | Time‑based RSUs | — | — | $144,000 grant date fair value |
| Stock Awards (RSUs) | 2024 Grants | Time‑based RSUs | — | — | $274,200 grant date fair value |
| Option Awards | 2023 Grants | Time‑based stock options | — | — | $651,079 grant date fair value |
| Option Awards | 2024 Grants | Time‑based stock options | — | — | $1,223,604 grant date fair value |
Vesting and award structures:
- RSUs (2/1/2023 grant): one‑third vests on each of Dec 15, 2023/2024/2025 .
- RSUs (1/2/2024 grant): one‑third vests on each of Dec 15, 2024/2025/2026 .
- Options generally vest 25% at first anniversary then monthly over the remaining 3 years; specific 7/20/2022 awards include 1/3 at one year then monthly over 2 years (for certain tranches) and 1/4 at one year then monthly over 3 years .
- Compensation determined by independent Compensation Committee with Aon as consultant; peer benchmarking used .
Equity Ownership & Alignment
| Metric | As of Mar 31, 2025 |
|---|---|
| Total Beneficial Ownership (shares) | 666,537 (less than 1%) |
| Directly Held Shares | 106,764 |
| Options Exercisable within 60 Days | 559,773 |
| Options Not Exercisable within 60 Days | 522,227 (excluded from beneficial ownership calc) |
| RSUs Not Vesting within 60 Days | Excluded from beneficial ownership calc |
| Hedging/Pledging | Prohibited under insider trading policy |
Outstanding equity awards (selected):
- Options: 7/20/2022 tranches (exercise price $4.36; expiration 7/20/2032) with exercisable/unexercisable portions; 2/01/2023 options (exercise price $6.00); 1/02/2024 options (180,000 unexercised; $9.14 exercise price; expiration 1/02/2034) .
- RSUs: 6,042 (2/01/2022; $55,586 market value at $8.07 on 12/31/2024); 16,000 (2/01/2023; $147,200 market value); 20,000 (1/02/2024; $161,400 market value) .
Employment Terms
| Term | Key Provision |
|---|---|
| Employment | Confirmatory employment letter; at‑will |
| Current Compensation (effective Feb 1, 2025) | Base $485,000; target bonus 40% |
| Severance (outside CIC) | 9 months base salary; up to 9 months COBRA (or lump sum equivalent) upon termination without cause or for good reason; accrued benefits |
| CIC Period (definition) | Period beginning on change in control and ending 12 months thereafter |
| Severance (within CIC) | Lump sum 12 months base salary; 100% of target bonus; up to 12 months COBRA (or lump sum equivalent); full acceleration of unvested equity (performance goals deemed achieved at 100%) |
| Tax Gross‑Ups | None; 280G “best‑net” cutback applies |
| Clawback | Non‑discretionary recovery of excess incentive compensation in event of accounting restatement (SEC/Nasdaq compliant) |
| Hedging/Pledging | Prohibited (short sales, options, hedging instruments, pledging, margin accounts) |
| Lock‑up (May 2025 financing) | Officers and directors agreed to 60‑day lock‑up post‑closing; exceptions include existing Rule 10b5‑1 plans |
Outstanding Equity Awards (Detail)
| Grant Date | Exercisable (#) | Unexercised/Unexercisable (#) | Exercise Price ($) | Expiration | RSUs Unvested (#) | RSUs Market Value ($) |
|---|---|---|---|---|---|---|
| 7/20/2022 | 236,630 | 57,120 | 4.36 | 7/20/2032 | — | — |
| 7/20/2022 | 120,077 | 78,673 | 4.36 | 7/20/2032 | — | — |
| 2/01/2023 | 66,458 | 78,542 | 6.00 | — | 16,000 | 147,200 |
| 1/02/2024 | — | 180,000 | 9.14 | 1/02/2034 | 20,000 | 161,400 |
| 2/01/2022 | — | — | — | — | 6,042 | 55,586 |
Vesting notes:
- 7/20/2022 options: Tranche (5) vests 1/3 at first anniversary then monthly over 2 years; tranche (6) vests 1/4 at first anniversary then monthly over 3 years .
- 2/01/2023 options: vests 1/4 at first anniversary then monthly over 3 years; RSUs vest one‑third annually (Dec 15, 2023/2024/2025) .
- 1/02/2024 options: vests 1/4 at first anniversary (Jan 2, 2025) then monthly over 3 years; RSUs vest one‑third annually (Dec 15, 2024/2025/2026) .
Investment Implications
- Pay‑for‑performance signals: Annual cash bonuses are explicitly tied to company objectives and varied with achievement (117.5% in 2023; 115% in 2024), indicating a performance‑sensitive cash component . Equity is a significant portion of pay (2024 option awards ~$1.22M; RSUs ~$0.27M), aligning CFO incentives with long‑term value creation .
- Retention vs. acceleration: Standard vesting across multiple grants supports retention, but full acceleration of unvested equity upon double‑trigger CIC increases deal‑related payout potential; no tax gross‑ups reduce shareholder-unfriendly optics .
- Selling pressure: A 60‑day lock‑up following the May 2025 financing curtailed near‑term insider sales; exceptions allow 10b5‑1 plans, reducing discretionary sale risk in that window .
- Alignment and risk controls: Hedging and pledging prohibitions and a robust clawback policy mitigate misalignment and governance risk; beneficial ownership shows meaningful options exposure with modest direct share holdings (106,764 shares; 559,773 options currently exercisable) .
- Execution footprint: CFO signed ORIC’s FY2024 results 8‑K and oversaw a $125M financing, bolstering cash to fund clinical development through late 2026—key to sustaining pipeline milestones and potential registrational studies .
Overall, the compensation mix and governance policies point to reasonable pay-for-performance alignment and controlled insider sale dynamics, with CIC acceleration worth monitoring for transaction‑driven payouts.
References
- Executive bio, roles, age, education; executive officers table .
- Summary compensation; bonus plan funding; award types .
- Outstanding awards; vesting schedules; market values; exercise prices and expirations .
- Employment terms; severance and CIC; clawback; insider trading policy .
- Beneficial ownership breakdown .
- Q4/FY2024 results 8‑K and financing .
- Lock‑up agreements for officers/directors .