Christine Utter
Senior Vice President, Chief Accounting Officer and Head of People Services at 
PTC THERAPEUTICS
PTC THERAPEUTICSExecutive
About Christine Utter
Senior Vice President, Chief Accounting Officer and Head of People Services at PTC Therapeutics. Utter joined PTC in 2010 as Assistant Controller, served as Senior Vice President, Finance and Principal Financial Officer (June 2017–June 2019), and has been Chief Accounting Officer since June 2019; age 47; B.S. in accounting from The College of New Jersey; prior auditor roles at Ernst & Young LLP and Arthur Andersen and finance roles at Engelhard and Barrier Therapeutics . As Principal Financial Officer, she executed Sarbanes‑Oxley Section 906 certifications in 2017 and 2018, evidencing accountability for PTC’s reporting controls . Company performance context for FY2024: corporate rating of 145% under annual incentive goals and total revenue ≈$806.8M, driven by DMD franchise resilience and a $1.0B upfront from Novartis on PTC518 partnership .
Selected Company Performance Metrics (FY2024)
| Metric | FY2024 |
|---|---|
| Corporate rating under annual cash incentive program (%) | 145% |
| Total revenue ($USD Millions) | ≈$806.8 |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| PTC Therapeutics | Assistant Controller | 2010–2017 | Supported corporate accounting and controls |
| PTC Therapeutics | SVP, Finance & Principal Financial Officer | 2017–2019 | Led financial reporting; SOX certifications in 2017/2018 |
| PTC Therapeutics | SVP, Chief Accounting Officer; Head of People Services | 2019–Present | Oversees accounting and people programs; CAO since June 2019 |
| Barrier Therapeutics | Assistant Corporate Controller | 2005–2009 | Corporate accounting leadership |
| Engelhard Corporation | Financial Analyst | Pre‑2005 | Finance/analysis |
| Ernst & Young LLP; Arthur Andersen | Auditor | Pre‑2005 | External audit experience |
External Roles
- None disclosed in PTC filings for Utter .
Fixed Compensation
- Individual base salary, target bonus, and actual bonus amounts for Utter are not disclosed in the proxy; the Summary Compensation Table covers only named executive officers (NEOs), which does not include Utter .
Performance Compensation
- Utter’s individual equity and incentive awards are not disclosed. Program structure for executives: annual cash incentive formula based on corporate goals and individual modifier; 2024 corporate rating set at 145% with individual modifiers up to 1.15 (applied to NEOs) . Company historically grants equity awards broadly to employees to foster “One PTC” ownership culture .
2024 Corporate Incentive Goal Outcomes (Company-Level)
| Goal Area | KPI | Outcome |
|---|---|---|
| Financial performance | Total revenues $600–$680M target | Achieved ≈$806.8M |
| Financial performance | GAAP R&D+SG&A $740–$835M; non-GAAP $660–$755M | Achieved GAAP ≈$835.4M; non-GAAP ≈$760.8M (slight overspend due to continued Translarna commercialization and additional NDA prep) |
| Business development | In‑licensing with near‑term revenue; research partner | Achieved Novartis license on PTC518 with $1.0B upfront; identified research partners |
| R&D advancement | Multiple filings (MAA/NDA/BLAs) & trial milestones | Achieved filings and readouts; FDA approval of Kebilidi; NDAs accepted; designations for PTC518 |
Equity Ownership & Alignment
- Stock ownership guidelines apply to executive officers: target ownership equal to 1x three‑year average cash compensation, to be met within five years; non‑compliant individuals must hold 50% of after‑tax profit shares until compliant .
- Insider Trading Policy prohibits pledging of company stock, margin purchases, hedging, short sales, and speculative options; SVPs and above must pre‑clear trades or use compliant Rule 10b5‑1 plans .
- Clawback policy (Rule 10D‑1) applies to executive officers for erroneously awarded incentive‑based compensation upon accounting restatements; SOX §304 reimbursement could apply to CEO/CFO misconduct-related restatements .
Employment Terms
- An individual employment agreement for Utter is not disclosed in the proxy. Detailed severance and change‑of‑control economics (double‑trigger equity vesting; salary continuation; COBRA; target bonus treatment) are provided for NEOs only .
Investment Implications
- Tenure and dual remit across accounting and people functions suggest institutional knowledge and continuity in internal controls and culture, supporting execution stability .
- Strong corporate performance in 2024 (revenue beat vs target; transformational BD) likely lifted senior executive incentive payouts (for NEOs), but absence of Utter‑specific disclosures limits assessment of pay‑for‑performance alignment and potential selling pressure from vesting events .
- Governance policies (no pledging/hedging; stock ownership guidelines; clawbacks) mitigate red‑flag alignment risks; monitor future Form 4 filings and proxies for Utter’s individual equity holdings, vesting schedules, and any 10b5‑1 activity to assess retention and trading signals .
- Broad equity participation and annual grants to employees align incentives firm‑wide; however, targeted retention or severance details for non‑NEO executives like Utter are opaque, a disclosure gap for investors .