Laura Sandler
About Laura Sandler
Laura Sandler, age 48, is Chief Operating Officer of Oruka Therapeutics (ORKA) since July 1, 2025; she joined Oruka on March 11, 2024 as SVP of Operations and reports to the CEO . She holds an MPH from Boston University and a bachelor’s degree from MIT, with 20+ years of clinical operations and development leadership across CRISPR Therapeutics and bluebird bio, among others . Oruka is a pre-revenue, clinical-stage biotech; 2024 net loss was $83.724 million, and cumulative TSR measured from a $100 baseline was 109.89 as of year-end 2024 . On September 19, 2025, Sandler adopted a Rule 10b5-1 plan to sell up to 33,000 ORKA shares by December 31, 2026, indicating planned and programmatic selling activity .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Oruka Therapeutics, Inc. | SVP, Operations | Mar 2024–Jul 2025 | Program leadership, program management, and quality assurance; foundational ops scale-up pre- and post-Merger . |
| Kelonia Therapeutics, Inc. | SVP, Strategic Operations | Sep 2023–Mar 2024 | Ran program leadership, program management, and quality assurance in cell/gene therapy context . |
| Independent consultant | Biopharma Consultant | Jul 2022–Aug 2023 | Advisory support across clinical execution and operational strategy . |
| CRISPR Therapeutics AG | SVP, Development Operations (progressive roles) | Mar 2017–Jun 2022 | Headed clinical execution and development operations; led end-to-end clinical delivery . |
| bluebird bio, Inc. | Development Operations Lead (Lyfgenia program) | Sep 2013–Mar 2017 | Led development operations team for Lyfgenia program . |
Fixed Compensation
| Component | Value | Effective/Notes |
|---|---|---|
| Base Salary ($) | $460,000 | Effective upon COO appointment (Jul 1, 2025) . |
| Target Bonus (% of base) | 40% | Discretionary; subject to annual performance targets . |
| 2025 Bonus Proration | Yes | Prorated pre/post COO effective date . |
Performance Compensation
- Annual bonus is discretionary at a 40% target of base salary, tied to Company-established performance targets; payout timing no later than March 15 following the performance year .
- Company bonus program (2024 reference for NEOs) emphasized milestone achievements in ORKA-001 (IL-23), ORKA-002 (IL-17A/F) and funding readiness; corporate goal achievement was assessed at 125% of target by the Board .
Equity Ownership & Alignment
| Item | Details |
|---|---|
| New Equity Award | Stock option for 25,000 ORKA shares at fair-market strike on grant; 25% vests on first anniversary of 7/1/2025, remainder vests in 36 equal monthly installments to the four-year anniversary . |
| Insider Trading Plan | Rule 10b5-1 plan adopted on Sept 19, 2025 to sell up to 33,000 shares; ends when shares sold or by Dec 31, 2026 (conditions apply) . |
| Hedging/Pledging | Company policy prohibits short sales, publicly traded options/derivatives, hedging transactions, margin accounts, and pledges of Company stock . |
| Clawback | Company maintains a Compensation Recoupment (Clawback) Policy compliant with Nasdaq Rule 5608/SEC Rule 10D-1; excess incentive pay must be recovered upon restatement . |
Employment Terms
| Provision | Details |
|---|---|
| Employment Type | At-will; COO duties customary; primary location Waltham, MA; reasonable travel as needed . |
| Severance (non-CIC) | If terminated without cause or resigns for good reason: 12 months base salary plus up to 12 months Company-paid COBRA, subject to release . |
| Change-in-Control (CIC) Severance | If termination without cause or resigns for good reason within 3 months before or 12 months after CIC: 1.0x (base + target bonus) paid over 12 months; up to 12 months COBRA; full acceleration of all equity awards (time- and performance-based, with performance deemed at greater of target/actual if determinable), subject to release . |
| Death/Disability | Accrued obligations plus full acceleration of outstanding equity awards . |
| 280G Excise Tax | “Best After-Tax Result” cutback to avoid 4999 excise tax; no tax gross-up; potential repayment provisions if IRS determines Excise Tax due . |
| Restrictive Covenants | Bound by Company’s Business Protection Agreement (invention assignment, confidentiality, non-competition, non-solicitation) . |
| Indemnification | Standard Indemnity Agreement entered in connection with COO appointment . |
| Recoupment | Subject to Company clawback/recoupment policies; forfeiture/recoupment possible . |
Investment Implications
- Compensation alignment and CIC economics: Equity-centric package with double-trigger CIC acceleration balances retention incentives with shareholder protections (no gross-up, clawback, hedging/pledging bans) .
- Selling pressure: A Rule 10b5-1 plan for up to 33,000 shares through 2026 suggests controlled, programmatic selling; monitor Form 4 filings to gauge cadence and residual holdings .
- Pay-for-performance construct: While Sandler’s specific bonus metrics aren’t disclosed, Oruka’s program is milestone-driven (e.g., ORKA-001/002 progress and funding) and historically rewarded overachievement (125% corporate goal attainment in 2024 for NEOs), indicating payouts are sensitive to pipeline execution .
- Retention risk: Non-CIC severance (12 months base + benefits) and CIC severance (1.0x base+target bonus + full vest acceleration) mitigate turnover risk, particularly through clinical inflection points; at-will structure and standard restrictive covenants provide continuity and IP protection .
- Track record: Deep execution background in clinical operations at CRISPR and bluebird positions Sandler to drive Oruka’s operational scale-up; investors should watch operational milestones and any subsequent equity grants or plan adoptions as leading indicators of confidence and liquidity needs .