Thomas McCourt
About Thomas McCourt
Independent director at Pliant Therapeutics (since March 2023), McCourt is a commercial biopharma operator and currently Chief Executive Officer and a director at Ironwood Pharmaceuticals. He is 67 and holds a B.S. in Pharmacy from the University of Wisconsin. Prior roles include senior commercial leadership at Amgen, Novartis, and Astra‑Merck; he previously served on Acceleron Pharma’s board until its acquisition by Merck in November 2021 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Ironwood Pharmaceuticals | Chief Executive Officer; Director | CEO since Jun 2021; President (Apr 2019–Jun 2021); President & Interim CEO (Mar–Jun 2021); previously SVP Marketing & Sales/Chief Commercial Officer (since 2009) | Led commercial and executive functions; public company CEO experience |
| Amgen | Led U.S. brand team for denosumab | 2008–2009 | Commercial launch leadership |
| Novartis | Senior commercial roles incl. VP Strategic Marketing & Operations | 2001–2008 | Global commercial strategy |
| Astra‑Merck | Founding team; built medical affairs/science liaison group; Brand Manager | Not disclosed | Early-stage brand/medical affairs build-out |
External Roles
| Organization | Role | Tenure/Status |
|---|---|---|
| Ironwood Pharmaceuticals (public) | CEO and Director | Current |
| American Society of Gastrointestinal Endoscopy (non-profit) | Board of Trustees | Current |
| Acceleron Pharma (public; acquired by Merck) | Director | Prior; until Nov 2021 acquisition |
Board Governance
| Attribute | Details |
|---|---|
| Board tenure | Director since March 2023 |
| Independence | Board determined all directors except CEO are independent (includes McCourt) |
| Committees | Compensation Committee (member; chair: Darren Cline) ; Research & Development Committee (member; chair: Katharine Knobil) |
| Attendance | Each director attended ≥75% of Board/committee meetings in 2024; all directors attended 2024 annual meeting (virtual) |
| Lead independent director | Hoyoung Huh, M.D., Ph.D. |
| Compensation oversight developments | After a 45.3% Say‑on‑Pay result in 2024, the Board/Comp Committee increased investor engagement, adopted equity grant‑timing safeguards, changed Comp Committee leadership (Cline as chair; Huh added), and continued to retain independent consultant Pearl Meyer |
Fixed Compensation
| Item | Amount/Structure |
|---|---|
| 2024 cash fees earned (McCourt) | $48,750 |
| Non‑employee director annual retainer | $40,000 |
| Additional retainers | Lead director: $30,000; Audit chair: $17,000; Audit member: $8,500; Compensation chair: $12,000; Compensation member: $6,000; Nominating chair: $10,000; Nominating member: $5,000; R&D chair: $10,000; R&D member: $5,000 |
Performance Compensation
| Element | Grant/Value | Vesting/Terms |
|---|---|---|
| 2024 option award (McCourt) | $229,100 aggregate grant‑date fair value | Director Annual Grant policy: options sized to $250,000 grant‑date value at the annual meeting; vest quarterly over one year; exercise price = closing price on grant date; full acceleration upon sale of company |
| Initial director grant (policy) | $500,000 grant‑date value (upon initial election/appointment) | Vests monthly over 3 years; exercise price = closing price on grant date; full acceleration upon sale of company |
Note: For 2024, McCourt’s director compensation was primarily equity (options) at-risk, with the remainder in cash fees, aligning director incentives with shareholder value creation .
Other Directorships & Interlocks
- Current public company board: Ironwood (CEO/Director) .
- Prior public board: Acceleron Pharma (until Merck acquisition) .
- Interlocks/related parties: Company reports no related‑party transactions ≥$120,000 since Jan 1, 2024; no disclosed interlocks involving McCourt with Pliant’s significant counterparties .
Expertise & Qualifications
- Commercial leadership in biopharma (Amgen denosumab brand leadership; Novartis senior marketing/ops; Astra‑Merck founding team) and GI franchise CEO experience at Ironwood .
- Board/trustee governance roles in public and non‑profit settings .
- Education: B.S., Pharmacy (University of Wisconsin) .
Equity Ownership
| Holder | Beneficial Ownership | Notes |
|---|---|---|
| Thomas McCourt | 49,961 shares beneficially owned via options exercisable within 60 days of Mar 31, 2025; <1% of shares outstanding | No common shares listed; options only per footnote (19) |
| Pledging/Hedging | Prohibited for directors under company policy (no pledging, hedging, short sales, or derivatives) | Policy applies to directors; designed to align interests |
Governance Assessment
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Strengths
- Independent director with deep commercial biotech expertise; serves on Compensation and R&D Committees, enhancing oversight of incentive design and pipeline decisions .
- Attendance thresholds met; engagement evidenced by full board attendance at 2024 annual meeting .
- Director pay structure mixes modest cash retainer with predominantly option‑based equity; grants vest over time and are at‑risk with stock performance; grant timing policy helps mitigate misalignment risk during volatile periods .
- No related‑party transactions disclosed in 2024; strong insider trading/pledging prohibitions .
-
Watch items / RED FLAGS
- 2024 Say‑on‑Pay approval was 45.3%, a material decline from prior years, indicating shareholder scrutiny of pay‑for‑performance; as a Compensation Committee member, McCourt will be expected to sustain responses (enhanced disclosure, policy updates, consultant oversight) and improve support in subsequent votes .
- Director equity awards fully accelerate upon a sale, which is common but can be investor‑sensitive; transparency of policy and conservative cash retainers partially mitigate concerns .
-
Implications for investors
- McCourt brings directly relevant commercial acumen and appears engaged via committee service and meeting attendance, supporting board effectiveness in late‑stage development and commercialization strategy .
- Compensation oversight will remain a focal point; monitoring subsequent Say‑on‑Pay outcomes and the Committee’s continued adoption of investor‑aligned practices is warranted .