Abraham Ceesay
Pacira BioSciencesAbout Abraham Ceesay
Abraham Ceesay, age 47, is an independent Class III director at Pacira BioSciences (since October 2023). He is President & CEO of Rapport Therapeutics (Nasdaq: RAPP) with nearly two decades of biotech leadership; education includes a B.S. from Ithaca College and an MBA from Suffolk University . His core credentials center on commercial launches (e.g., Linzess, Auryxia, Renvela), scaling teams, and operational excellence across biopharma .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Cerevel Therapeutics (formerly Nasdaq: CERE) | President | 2021–2023 | Led CNS portfolio; senior leadership of development-focused organization |
| Tiburio Therapeutics | Chief Executive Officer | 2019–2021 | Built fully integrated company; drove IND enablement for rare neuroendocrine condition |
| scPharmaceuticals (Nasdaq: SCPH) | Chief Operating Officer | 2016–2018 | Operational scaling; commercial execution |
| Keryx Biopharmaceuticals (formerly Nasdaq: KERX) | Head of Commercial Sales, Marketing & Operations | 2014–2016 | Oversaw successful commercial launches (e.g., Auryxia) |
| Ironwood Pharmaceuticals (Nasdaq: IRWD) | VP, Marketing | 2010–2014 | Led GI franchise marketing (e.g., Linzess) |
| Sanofi (formerly Genzyme) | Roles of increasing responsibility | 2002–2010 | Commercial/operational leadership in rare diseases |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Rapport Therapeutics (Nasdaq: RAPP) | President & CEO; Director | Since 2023 | Public company board service; senior executive leadership |
| Life Science Cares | Director | Since 2020 | Non-profit governance |
Board Governance
- Committee assignments: Member, Audit Committee; Member, People & Compensation Committee .
- Chair roles: None; Audit Committee chaired by Alethia Young (financial expert); People & Compensation chaired by Michael Yang .
- Independence: Board determined 8 of 9 directors are independent; Ceesay is independent .
- Attendance: The board met 12 times in 2024; each director attended 75% or more of aggregate board and applicable committee meetings (Audit 8; People & Compensation 6; Nominating 4; Science & Technology 3) .
- Executive sessions: Non‑employee directors held executive sessions at each regularly scheduled board meeting in 2024 .
- Governance enhancements: Majority voting adopted for uncontested elections (March 2025); Director Resignation Policy implemented .
- Policies: Anti‑hedging and anti‑pledging policy; insider trading policy filed with 10‑K; robust risk oversight framework and independent board chair .
Fixed Compensation
Director compensation structure (policy effective July 1, 2024):
| Component | Policy Detail |
|---|---|
| Annual equity grant | $300,000 target value; split 50% RSUs ($150k) and 50% stock options ($150k); RSUs and options vest one year from grant date; change of control accelerates unvested awards . |
| Initial equity grant (new directors) | Stock options with $450,000 grant date fair value; vest monthly over 3 years . |
| Cash retainers (additional) | Audit: Chair $30,000; Member $15,000. Compensation: Chair $24,000; Member $12,000. Nominating/Governance: Chair $18,000; Member $9,000. Science & Tech: Chair $18,000; Member $9,000. Board Chair $50,000; Lead Director $35,000 . |
Abraham Ceesay – 2024 director compensation (earned):
| Component | Amount ($) |
|---|---|
| Fees earned or paid in cash | $62,000 |
| Stock awards (RSUs) – grant date fair value | $149,996 |
| Option awards – grant date fair value | $150,009 |
| Total | $362,005 |
Vesting terms for 2024 grants: RSUs and options vest 100% one year from grant date, subject to continued service; unvested awards fully vest upon change of control or liquidation .
Performance Compensation
| Performance Metric | Director Pay Linkage |
|---|---|
| Financial/TSR/operational metrics | None disclosed for non‑employee directors; annual equity is time‑based, not performance‑based . |
| Clawback provisions | Company maintains an incentive compensation recovery policy applicable to executive incentive awards; not specified for director equity . |
Other Directorships & Interlocks
| Company | Type | Role | Since | Notes |
|---|---|---|---|---|
| Rapport Therapeutics (Nasdaq: RAPP) | Public | CEO; Director | 2023 | Neurology‑focused; only current public board listed; Company states “No overboarding” practice . |
| Life Science Cares | Non‑profit | Director | 2020 | External civic role . |
- Related‑party transactions: Proxy discloses no related‑person transactions >$120,000 involving Ceesay; only items pertained to former executives/directors (Stack, Pace) and were reviewed under policy .
Expertise & Qualifications
- Top skill areas (board matrix): Business Development/M&A; Human Capital Management; Industry Experience; Operations/Manufacturing/Supply Chain; Research & Development .
- Track record: Led successful commercialization and company‑building across multiple biopharma firms .
Equity Ownership
| Item | Detail |
|---|---|
| Beneficial ownership (shares) | 34,616 shares |
| % of shares outstanding | ~0.075% (34,616 ÷ 46,290,830 record date shares outstanding) |
| Options – vested | 12,047 |
| Options – unvested | 31,139 |
| RSUs – unvested | 5,230 |
| Hedging/pledging | Prohibited under Insider Trading Policy |
| Ownership guidelines | Directors required to hold ≥5x annual cash retainer; phase‑in window 4 years from later of Dec 10, 2024 or appointment. All directors compliant or within phase‑in in 2024 . |
Governance Assessment
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Board effectiveness: Active engagement via Audit and People & Compensation committees; independence affirmed; attendance threshold met; executive sessions each regular meeting enhance oversight .
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Alignment: Equity grants and 5x retainer ownership guideline support long‑term alignment; anti‑hedging/pledging reduces misalignment risk .
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Conflicts/related party: No related‑person transactions disclosed for Ceesay; no shared directorships with Pacira competitors/suppliers/customers identified in proxy .
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Compensation signals: Director equity accelerates on change of control—a common practice but investors may monitor potential entrenchment risk; no meeting fees; cash components are modest relative to equity .
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Shareholder feedback: 2024 Say‑on‑Pay approved at 90%, indicating stable investor support for compensation governance broadly .
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RED FLAGS: None disclosed specific to Ceesay (no hedging/pledging, no related‑party transactions, attendance met). Monitor change‑of‑control acceleration of director awards and external CEO commitments for time‑allocation risk, mitigated by “no overboarding” practice and only one public board role .