Alethia Young
PTC THERAPEUTICSAbout Alethia Young
Alethia Young (age 46) has served as an independent director of PTC Therapeutics since 2022. She is currently Chief Financial Officer of Bicycle Therapeutics PLC (since June 2023) and previously served as CFO of Graphite Bio, Inc. (April 2022–June 2023); she spent over two decades in biotech equity research with senior analyst roles at Cantor Fitzgerald, Credit Suisse, and Deutsche Bank, and began her career at J.P. Morgan in investment banking and asset management. She holds a B.A. in Economics and Spanish from Duke University and is designated by PTC as an “audit committee financial expert.”
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Cantor Fitzgerald | Senior biotech analyst; Head of Research | 2018–Mar 2022 | Led equity research across small/mid/large-cap biotech |
| Credit Suisse | Senior biotech analyst | Aug 2015–Aug 2018 | Sell-side coverage leadership |
| Deutsche Bank | Senior biotech analyst | Jul 2011–Jul 2015 | Sell-side coverage leadership |
| Marwood Group | Research policy analyst; President | Early career (dates not specified) | Healthcare advisory to institutional investors |
| J.P. Morgan | Investment banking & asset management | Early career (dates not specified) | Foundational finance experience |
External Roles
| Organization | Role | Start Date | Notes |
|---|---|---|---|
| Bicycle Therapeutics PLC (Nasdaq) | Chief Financial Officer | Jun 2023 | Current CFO |
| Pacira BioSciences, Inc. (Nasdaq) | Director | Oct 2023 | Current public company directorship |
| Graphite Bio, Inc. (Nasdaq) | Chief Financial Officer | Apr 2022–Jun 2023 | Prior CFO role |
| BUILD NYC | Director (non-profit) | 2021–2023 | Civic/educational board service |
Board Governance
- Committee assignments: Audit Committee (member); Nominating & Corporate Governance Committee (member). Audit Committee held five meetings in 2024; Board held 13 meetings in 2024.
- Independence: Board determined all directors and nominees (except the CEO) are independent under Nasdaq rules; all members of Audit, Compensation, and Nominating committees are independent.
- Financial expertise: PTC designates Alethia Young as an “audit committee financial expert.”
- Attendance and engagement: In 2024, each director attended at least 75% of Board and committee meetings; 10 of 11 directors attended the 2024 annual meeting.
- Executive sessions and governance practices: Corporate Governance Guidelines call for regular executive sessions of independent directors and annual Board/committee self-evaluations.
- Election status: Nominated for re-election in 2025 as a Class III director for a term ending in 2028.
Fixed Compensation
| Component | 2024 Amount/Policy | Notes |
|---|---|---|
| Annual Board cash retainer | $50,000 | Paid in arrears; pro-rated if applicable |
| Audit Committee member retainer | $12,000 | $25,000 if Chair (Young is member) |
| Nominating & Corporate Governance member retainer | $6,500 | $14,500 if Chair (Young is member) |
| Ad hoc committee retainer | $7,500 | $11,250 if Chair; transaction and litigation ad hoc committees had paid fees in 2024 |
| Alethia Young – Fees earned in cash (actual) | $76,000 | Reported in 2024 director comp table |
Compensation structure was reviewed by FW Cook in 2023; Board kept fees unchanged for 2024, benchmarking against peers.
Performance Compensation
| Instrument | Annual Grant/Value | Vesting/Terms | 2024 Reported Value |
|---|---|---|---|
| Stock Options | Annual grant to purchase 10,000 shares | Vests over one year in 12 equal monthly installments commencing Feb 15, 2024; exercise price equals closing price on grant date; 10-year expiration | $134,915 grant-date fair value (ASC 718) for Young |
| Restricted Stock Units (RSUs) | Annual grant of 4,000 RSUs | 1/3 vests on Jun 18, 2024; remaining 2/3 vests on Feb 15, 2025; service-based | $102,760 grant-date fair value (ASC 718) for Young |
- Equity awards to non-employee directors are time-vested; no performance-based metrics applicable to director compensation (options strike at market, RSUs time vest).
Other Directorships & Interlocks
| Company | Relationship to PTC | Director/Officer Role | Potential Interlock Considerations |
|---|---|---|---|
| Pacira BioSciences (Nasdaq) | Same sector (biopharma) | Director (since Oct 2023) | Industry overlap noted; no related-party transactions with PTC disclosed in proxy |
| Bicycle Therapeutics (Nasdaq) | Same sector (biopharma) | CFO (since Jun 2023) | Senior executive role at another public biopharma; PTC’s Audit Committee oversees related-person transactions; none naming Young disclosed |
Expertise & Qualifications
- Deep healthcare/biotech financial expertise as CFO and former top-ranked sell-side analyst; designated audit committee financial expert.
- Broad capital markets experience (J.P. Morgan; Cantor, Credit Suisse, Deutsche Bank) and governance exposure via public company board service.
- Education: B.A. Economics and Spanish, Duke University.
Equity Ownership
| Date/Measure | Beneficial Ownership | Breakdown | Ownership % of Outstanding |
|---|---|---|---|
| Dec 31, 2024 – Outstanding equity | Options: 27,334; Unvested RSUs: 3,733 | Company-wide listing of director outstanding awards as of year-end | n/a |
| Apr 21, 2025 – Beneficial ownership | 45,734 shares | 31,000 options exercisable within 60 days; 2,734 RSUs vesting within 60 days; 12,000 common shares | <1%; base shares outstanding 79,237,622 |
- No pledging or hedging of company stock is disclosed; stock ownership guidelines for non-employee directors are overseen by the Compensation Committee, but specific multiples and compliance status are not detailed in the proxy.
Governance Assessment
- Positive indicators: Independent director with audit committee financial expert designation; active committee service (Audit; Nominating & Corporate Governance); re-nominated for term ending 2028; met the ≥75% attendance threshold in 2024.
- Alignment: Holds equity via options and RSUs with time-based vesting; beneficial ownership is below 1% but includes exercisable options and near-term vesting RSUs, consistent with typical director alignment at mid-cap biopharma.
- Compensation mix: 2024 mix skewed toward equity (Options $134,915; RSUs $102,760) versus cash ($76,000), supporting at-risk alignment for directors; program unchanged YoY per FW Cook review.
- Conflicts/related-party exposure: Proxy’s related-person transactions section highlights none involving Young; Audit Committee reviews any related-person transactions. No red flags (pledging, option repricings) are disclosed for directors.
- Engagement: Audit Committee met five times; Board met 13 times; governance guidelines emphasize executive sessions and annual evaluations, indicating an engaged oversight structure.