Christian Klemt
uniQureAbout Christian Klemt
Christian Klemt, age 52, is Chief Financial Officer of uniQure N.V. (QURE) and General Manager of its Amsterdam office; he has served as CFO since June 2021 after roles as Chief Accounting Officer (2017–2021) and Global Controller (2015–2017) . He previously held senior finance positions at CGG SA and LyondellBasell, led uniQure’s transition to a domestic U.S. filer and US GAAP conversion, and holds an MBA from the University of Münster; he is a German Certified Public Accountant and Tax Advisor (qualified at KPMG) . 2024 performance outcomes credited him with above-target bonus achievement (115%) for exceeding capital conservation goals and leading the manufacturing facility divestiture and organizational restructuring . As CFO, he reported Q1 2025 revenue of $1.6M (vs. $8.5M prior year) and cash, cash equivalents and investments of $409M, sufficient to fund operations into H2 2027 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| uniQure N.V. | Chief Financial Officer | Since Jun 2021 | Oversaw finance leadership; credited with capital conservation and facility divestiture; 115% bonus achievement in 2024 |
| uniQure N.V. | Chief Accounting Officer | Aug 2017–Jun 2021 | Led accounting; supported US GAAP conversion and domestic filer transition |
| uniQure N.V. | Global Controller | Sep 2015–Aug 2017 | Oversaw transition to domestic U.S. filer and conversion to US GAAP |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| CGG SA (NYSE: CGG) | Regional Finance Director; Country Manager | — | Senior finance leadership (precise years not disclosed) |
| LyondellBasell N.V. (NYSE: LBI) | Group Finance Manager | — | Led US GAAP conversion post-Lyondell acquisition; involved in petrochemical asset acquisitions |
| KPMG | Auditor/Tax Advisor (qualification) | — | Qualified as German CPA and Tax Advisor while employed at KPMG |
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary (Local Currency) | €375,000 | €415,000 (10.7% increase; effective Jan 2024) |
| Target Bonus (% of Salary) | 40% | 40% |
| Actual Cash Bonus (Local Currency) | €135,000 | €190,900 (115% achievement) |
Summary Compensation (USD) – Reported amounts
| Component (USD) | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary | $358,297 | $407,111 | $449,238 |
| Stock Awards | $860,067 | $770,440 | $370,720 |
| Option Awards | $699,824 | $770,646 | $277,020 |
| Non-Equity Incentive (Cash Bonus) | $191,352 | $146,005 | $206,649 |
| Other Compensation | $16,711 | $22,346 | $23,906 |
| Total | $2,126,251 | $2,116,548 | $1,327,533 |
Performance Compensation
2024 Corporate Objective Outcomes (Company-wide performance basis)
| Corporate Objective | Weighting at Target | Maximum Achievement | Actual % Earned |
|---|---|---|---|
| Define registrational pathway for Huntington’s disease | 35.0% | 52.5% | 51.6% |
| Execute clinical development for TLE | 10.0% | 15.0% | 5.0% |
| Execute clinical development for SOD-1 ALS | 5.0% | 7.5% | 5.0% |
| Execute clinical development for Fabry | 5.0% | 7.5% | 3.0% |
| Deliver HEMGENIX supply | 5.0% | 7.5% | 5.0% |
| Advance corporate development & strategic initiatives | 15.0% | 22.5% | 16.5% |
| Advance research and technology priorities | 5.0% | 7.5% | 4.5% |
| Improve culture & retain talent | 7.5% | 11.3% | 5.3% |
| Conserve capital | 10.0% | 15.0% | 11.5% |
| Advance IT & compliance priorities | 2.5% | 3.7% | 2.5% |
| Total | 100% | 150% | 110% |
NEO Bonus Determination (2024)
| Named Executive | Base Salary (Local) | Target Bonus % | Corporate Weighting | Individual Weighting | Actual Achievement | Cash Bonus (Local) |
|---|---|---|---|---|---|---|
| Christian Klemt | €415,000 | 40% | 80% | 20% | 115% | €190,900 |
Incentive Equity Awards (2024)
| Award Type | Grant Date | Quantity | Exercise/Base | Grant Date Fair Value |
|---|---|---|---|---|
| Options | 03/01/2024 | 85,500 | $5.59 | $277,020 |
| RSUs | 03/01/2024 | 49,500 | $0.00 | $276,705 |
| Notes | — | — | — | 2024 options/RSUs were intentionally below peer 25th percentile due to 2023 share price decline (>70%); mix chosen to balance performance orientation and retention |
PSU Framework and Outcomes
- 2021 PSU grant: vests on specified milestones and TSR relative to Nasdaq Biotechnology Index; one milestone not achieved by target date, capping vesting at 80% maximum . As of 12/31/2024, Klemt had 5,712 unearned PSUs with market/payout value $100,874 .
- 2024 PSUs (company-wide): granted 11/21/2024 and unearned as of 12/31/2024 (target values disclosed for other NEOs, no Klemt PSU in 2024 table) .
Equity Ownership & Alignment
Beneficial Ownership (as of March 31, 2025)
| Holder | Shares Beneficially Owned | Percent of Outstanding |
|---|---|---|
| Christian Klemt | 335,158 | <1% of 54,729,000 shares outstanding |
Breakdown (as of March 31, 2025)
| Category | Amount |
|---|---|
| Options currently exercisable or exercisable within 60 days | 235,897 |
| Outstanding Ordinary Shares (held) | 99,261 |
Outstanding Equity Awards (as of Dec 31, 2024) – Selected Items
| Award | Status | Quantity | Exercise Price | Expiration |
|---|---|---|---|---|
| Option | Exercisable | 51,713 | $16.04 | 2032 |
| Option | Unexercisable | 23,511 | $16.04 | 2032 |
| Option | Exercisable | 28,218 | $20.06 | 2033 |
| Option | Unexercisable | 36,282 | $20.06 | 2033 |
| Option | Unexercisable | 85,500 | $5.59 | 2034 |
| RSU (2022 grant) | Unvested | 14,544 | $0.00 | — |
| RSU (2023 grant) | Unvested | 24,934 | $0.00 | — |
| RSU (2024 grant) | Unvested | 49,500 | $0.00 | — |
| PSU (2021 grant) | Unearned | 5,712 | $0.00 | — |
Vesting & Policy Alignment
- Options: 4-year vesting; 25% on first anniversary, remaining vest quarterly over three years; 10-year expiration; no repricing or cash exchange of underwater options without shareholder approval .
- RSUs: vest pro-rata annually over three years; 2022, 2023, and March 1, 2024 grants vest one-third annually .
- Stock ownership guidelines: executives have satisfied or are on track within 5-year grace; RSUs subject to time-based vest count towards compliance; price declines alone do not create non-compliance .
- Insider trading policy: pledging or margin accounts prohibited except rare, pre-approved exceptions; no pledging requests by NEOs or Board in FY2024 .
- Clawback: Board policy (Dec 2021; revised Dec 2023 for Nasdaq rules) requires recoupment of excess performance-based compensation after material restatements; may apply to others for willful misconduct; awards under the plan are subject to clawback and share-trading policies .
Employment Terms
Key Employment Agreement Economics (effective June 15, 2021)
| Provision | Terms |
|---|---|
| Position and Start Date | CFO; employment agreement effective June 15, 2021 (replacing Mar 1, 2020 agreement) |
| Base Salary & Target Bonus (original) | €325,000 base; 40% target bonus |
| Notice Periods | Company must give 4 months’ notice; executive 2 months; automatic termination at Netherlands legal retirement age |
| Severance – Without Cause / Good Reason | Lump sum equal to then-current annual base salary + annual target bonus + pro-rata bonus for year of termination |
| Change-in-Control (Double Trigger) | If terminated within 90 days prior to or 12 months following a change in control (not for summary dismissal, long-term illness, or severe culpability): 150% of base salary + 150% of target bonus + pro-rata bonus; accelerated vesting of outstanding equity; stock options deemed fully exercisable before CIC and exercisable up to earlier of 18 months post-CIC or expiration |
| Restrictive Covenants | IP, non-competition, confidentiality |
| Clawback Applicability | Compensation subject to clawback per Board policy |
Termination Benefits (as of Dec 31, 2024; share price $17.66)
| Scenario | Cash Severance | Pro-Rata Bonus | RSUs Accelerated | PSUs Accelerated | Options Accelerated | Health/Other | Total |
|---|---|---|---|---|---|---|---|
| Termination without Cause or Resignation for Good Reason | $628,933 | $179,695 | — | — | — | — | $808,628 |
| Termination in Connection with Change in Control | $943,400 | $179,695 | $1,571,351 | $100,874 | $1,070,073 | — | $3,865,393 |
| Death | — | $179,695 | — | $100,874 | — | — | $280,569 |
| Disability | — | $179,695 | — | $100,874 | — | — | $280,569 |
| Retirement | — | — | — | $100,874 | — | — | $100,874 |
Performance & Track Record
- 2024: Above-target bonus achievement (115%) driven by exceeding capital conservation goals and leading manufacturing facility divestiture and organizational restructuring .
- 2025: Reported Q1 revenue of $1.6M (vs. $8.5M in Q1 2024) and cash/investments of $409M; reiterated funding runway into H2 2027 . In Q2 2025, SG&A reductions and strong cash balance ($377M) were noted, with runway into H2 2027; continued BLA preparation costs were highlighted . In Q3 2025, cash/investments reached $649.2M after offerings; increased SG&A to support potential commercialization .
Compensation Structure Analysis
- Equity mix favors options and RSUs; options reinforce performance orientation by requiring sustained stock price appreciation; RSUs support retention and alignment .
- 2024 equity values were intentionally reduced below peer 25th percentile due to a >70% share price decline in 2023 and dilution considerations, signaling shareholder sensitivity .
- Anti-repricing discipline: options cannot be repriced/reset/exchanged for cash if underwater without shareholder approval .
- Ownership guidelines and anti-pledging policy strengthen alignment; no executive pledging requests in FY2024 .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership | 335,158 shares (<1%) as of 3/31/2025 |
| Options currently exercisable/within 60 days | 235,897 |
| Shares held outright | 99,261 |
| Ownership guidelines compliance | All executive officers have satisfied or are on track within the 5-year window |
| Hedging/pledging | Prohibited (exceptions only by Compensation Committee); no pledging requests by NEOs/Board in FY2024 |
Employment Terms
| Clause | Summary |
|---|---|
| Severance multiples | 100% base + 100% target bonus (without cause/good reason); 150% base + 150% target bonus (CIC double trigger) |
| Equity acceleration | RSUs, PSUs accelerate on CIC; options deemed fully exercisable pre-CIC and exercisable up to 18 months post-CIC or expiration |
| Notices & retirement | 4 months (company) / 2 months (executive); automatic termination at legal retirement age |
| Clawback | Compensation subject to Board’s clawback policy |
Investment Implications
- Pay-for-performance: 40% target bonus tied 80% to corporate and 20% to individual goals; 2024 achievement at 115% reflects execution on capital conservation and strategic divestiture—positive alignment signal .
- Retention risk: Meaningful CIC economics (150% base and bonus plus equity acceleration) reduce departure risk in a transaction but may incentivize exit under change-of-control; overall severance outside CIC is standard (100% base+bonus) .
- Selling pressure: RSUs vest in equal thirds over 3 years and options vest over 4 years; watch near-term vest dates and the large 2034 option grant (85,500 @ $5.59) for potential selling windows once vested/in-the-money .
- Alignment safeguards: Ownership guidelines, anti-pledging policy, and clawback reduce misalignment and governance risks; no pledging observed in FY2024 .
- Execution track record: CFO commentary highlights cost discipline and financing strength (cash runway into 2027/2029), supporting operational execution into commercialization phases; monitor SG&A ramp and BLA-related spend for capital efficiency .