Robert Lenk, PhD
PLUS THERAPEUTICSAbout Robert Lenk, PhD
Independent director of Plus Therapeutics (PSTV) since April 1, 2020; age 77 as of June 18, 2025. PhD and BSc from MIT; veteran drug development entrepreneur with deep expertise in nanotechnology and liposomal drug products and a track record of translating research into therapeutics and delivery systems. Tenure on PSTV’s board: ~5 years; currently serves on the Nominating & Corporate Governance Committee. Independence affirmed by the Board under Nasdaq rules.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| The Liposome Company (now part of Elan) | Co-founder | 1981 onward (company later acquired) | Early innovator in liposomal drug delivery |
| Argus Pharmaceuticals (merged into Aronex) | VP Research & Development | 1989–mid-1990s | Cancer/infectious disease drug delivery focus |
| Therapeutics 2000, Inc. | President & CEO | 1995–2003 | Led to sale to Coller Capital |
| Luna Innovations | President, Nanoworks Division | 2004–2010 | Nanotechnology applications leadership |
| MediVector, Inc. | Chief Science Officer | 2010–2016 | Translational development across infectious diseases |
| Lenk Pharmaceuticals, LLC | President (consulting) | 2016–present | Pharmaceutical development consulting |
External Roles
| Organization | Role | Tenure | Type |
|---|---|---|---|
| PoP Biotechnology | Board member | Current | Private company; porphyrin liposome nanoparticle-based vaccines/oncology |
No current public company directorships disclosed for Dr. Lenk.
Board Governance
- Committee assignments: Nominating & Corporate Governance Committee member; not a chair.
- Independence status: Board determined Dr. Lenk is independent (Nasdaq/SEC standards).
- Board/committee meeting attendance: No director attended fewer than 75% of meetings in 2024.
- Annual Meeting attendance: Did not attend the 2024 Annual Meeting (minor signal).
- Executive sessions: Non-management directors met in executive session four times in 2024; executive sessions at every regular Board meeting.
Fixed Compensation
| Component (FY 2024) | Amount ($) | Notes |
|---|---|---|
| Board annual cash retainer | 40,000 | Non-employee director |
| Nominating & Corporate Governance Committee member fee | 5,000 | Member, not chair |
| Total cash fees earned | 45,000 | Sum of retainers |
| Option awards (grant-date fair value) | 9,167 | Service-based vesting |
| Total director compensation | 54,167 | Cash + options |
| 2024 Director Equity Grants | Grant date | Shares | Vesting/terms |
|---|---|---|---|
| Annual option grant | Feb 22, 2024 | 2,250 | Service-based; director equity comp program |
| Additional option grant | Sep 11, 2024 | 3,650 | Service-based; director equity comp program |
Program-wide director retainer schedule (for context): Board $40,000; Audit Committee $7,500 (chair $27,500); Compensation Committee $5,000 (chair $15,000); Nominating & Corporate Governance $5,000 (chair $10,000).
Performance Compensation
| Feature | Status | Notes |
|---|---|---|
| Performance metrics tied to director pay | None disclosed | Director options are service-based, not PSU/TSR-linked |
| Equity award structure | Stock options | Service-based vesting; aligns with shareholder value creation |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public boards | None disclosed |
| Private boards | PoP Biotechnology (board member) |
| Interlocks/conflicts | None disclosed; Board’s Related Party Transactions Policy overseen by Audit Committee. |
Expertise & Qualifications
- Nanotechnology and liposomal drug product development; translational leadership across multiple biopharma ventures.
- Founder/operating executive experience in oncology and infectious disease delivery platforms.
- MIT-trained scientist (BSc, PhD), emphasizing R&D-to-product execution.
Equity Ownership
| Category (as of June 18, 2025) | Units | Notes |
|---|---|---|
| Common shares | 29,327 | |
| Series A warrants (exercisable, subject to 4.99% cap) | 4,167 | |
| Series B warrants (exercisable, subject to 4.99% cap) | 4,167 | |
| Unvested options vesting within 60 days | 26,750 | |
| Total beneficial ownership | 64,411; <1% of 60,490,101 shares outstanding | |
| Anti-hedging/pledging policy | Hedging and pledging prohibited; margin accounts prohibited. |
| Historical options snapshot | Date | Options outstanding (#) |
|---|---|---|
| Outstanding option awards as of Dec 31, 2024 | 5,900 |
Insider Transactions (Director)
| Date | Transaction | Shares/Units | Price/Terms | Cash paid ($) |
|---|---|---|---|---|
| May 2024 PIPE financing | Purchased common shares | 4,167 | $2.04 per unit for insiders; Series A & B warrants issued | 8,500.16 |
| May 2024 PIPE financing | Series A warrants | 4,167 | Insider warrant exercise price $1.79 | — |
| May 2024 PIPE financing | Series B warrants | 4,167 | Insider warrant exercise price $1.79; originally exercisable until June 24, 2025 | — |
Company maintains Section 16 reporting compliance; filings accessible via the investor site.
Governance Assessment
- Independence and committee role: Independent director on Nominating & Corporate Governance aligns with his broad governance/organizational experience; no related-party conflicts disclosed.
- Attendance: Met ≥75% attendance threshold for 2024 Board/committee meetings; missed 2024 Annual Meeting (minor red flag but not a policy breach).
- Ownership alignment: Holds common shares, warrants, and sizable unvested options with service-based vesting; company prohibits hedging/pledging, supporting alignment.
- Compensation mix: Modest cash retainer with equity options; no performance-linked director equity (e.g., PSUs), consistent with small-cap biotech norms; option grants sized to align rather than guarantee pay.
- Related party exposure: Participated in company PIPE at insider terms; typical for insider support financings and disclosed under the Related Person Transactions Policy administered by the Audit Committee.
Signals for investors
- Positive: Independence affirmed; governance committee membership; anti-hedging/pledging policy; insider capital participation (alignment).
- Watch items: Missed 2024 Annual Meeting attendance; director equity is service-based rather than performance-linked (industry common but limits direct pay-for-performance linkage at the director level).