Paul Silva
About Paul M. Silva
Paul M. Silva (age 59) is an independent Class III director of Rapport Therapeutics, appointed in November 2024; he chairs the Audit Committee and sits on the Nominating & Corporate Governance Committee . The Board determined in March 2025 that he is independent under Nasdaq and SEC rules, and he is designated an “audit committee financial expert” by the Board . Silva previously served a decade as Senior Vice President and Chief Accounting Officer at Vertex Pharmaceuticals, and holds a B.A. in accounting from Assumption College .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Vertex Pharmaceuticals (Nasdaq: VRTX) | Senior Vice President & Chief Accounting Officer | Apr 2011 – Apr 2021 | Led accounting; Board cites him as “audit committee financial expert” at RAPP |
| Vertex Pharmaceuticals | Various finance/accounting roles | Aug 2007 – Apr 2021 | Progression culminating in CAO; retired Apr 2021 |
| Iron Mountain (NYSE: IRM) | Finance roles | Not disclosed | Prior corporate finance experience |
| Thermo Electron (now Thermo Fisher Scientific, NYSE: TMO) | Finance roles | Not disclosed | Prior corporate finance experience |
| Andersen LLP | Public accounting | Not disclosed | Early career public accounting experience |
External Roles
| Organization | Role | Since | Notes |
|---|---|---|---|
| Nurix Therapeutics, Inc. (Nasdaq: NRIX) | Director | Oct 2021 | Public company directorship |
| New Life Furniture Bank of Massachusetts | Director | Nov 2022 | Non-profit board role |
Board Governance
- Committee assignments (RAPP): Audit Committee (Chair) and Nominating & Corporate Governance Committee (Member) .
- Independence: Board determined Silva is independent; only CEO Ceesay and Dr. Huber are non‑independent .
- Financial expertise: Board has designated Silva as an “audit committee financial expert” .
- Meeting cadence and attendance (context): In 2024, the full Board met 5x; Audit 2x; Nominating & Corporate Governance 3x; each incumbent director attended at least 75% of applicable meetings (Silva joined in Nov 2024) .
| Committee | Role | 2024 Meetings |
|---|---|---|
| Audit | Chair | 2 |
| Nominating & Corporate Governance | Member | 3 |
Fixed Compensation
| Item | Amount | Period/Notes |
|---|---|---|
| Fees Earned or Paid in Cash | $8,818 | FY2024 (prorated; appointed Nov 2024) |
| Standard Board Retainer (policy) | $40,000/year | Non-employee director cash retainer |
| Audit Committee Chair Retainer (policy) | $15,000/year | Additional to Board retainer |
| Nominating & Corporate Governance Member Retainer (policy) | $4,000/year | Additional to Board retainer |
Performance Compensation
| Grant/Plan | Shares/Units | Grant-Date Fair Value | Vesting | Notes |
|---|---|---|---|---|
| Initial Director Option Grant (policy) | 29,756 options | N/A | 1/3 at 1st anniversary; balance monthly over next 24 months | Granted upon initial election/appointment |
| Director Annual Option Grant (policy) | 14,878 options | N/A | Vests in full by next AGM or 1 year | For continuing directors at each AGM |
| Silva – Option Awards (reported FY2024) | — | $585,598 | Per policy schedules | Fair value of 2024 director option awards |
| Acceleration on sale of company (policy) | — | — | Full acceleration | Director equity accelerates upon sale |
- Outstanding unexercised stock options as of 12/31/2024 (Silva): 29,756 options .
Other Directorships & Interlocks
- Current public company board: Nurix Therapeutics, Inc. (director) .
- No related-party transactions involving Silva were disclosed; related-party sections focus on investors (Third Rock, ARCH, JJDC, Sofinnova, etc.) and service/licensing agreements where Silva is not a party .
Expertise & Qualifications
- Financial/accounting leadership: Former SVP & CAO at Vertex; background includes Iron Mountain, Thermo Electron/Thermo Fisher, and Andersen LLP .
- Audit expertise: Board-designated audit committee financial expert .
- Education: B.A. in accounting, Assumption College .
Equity Ownership
| Item | Amount | As of/Notes |
|---|---|---|
| Beneficial ownership (shares) | 0 | As of April 21, 2025 (record date) |
| Ownership % | — | Less than 1% (no reported ownership) |
| Outstanding options (unexercised) | 29,756 | Director options outstanding 12/31/2024 |
| Hedging/Pledging | Prohibited for directors | Insider trading policy prohibits hedging and pledging by directors |
Governance Assessment
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Strengths
- Independent director, Audit Chair, and Board-designated “audit committee financial expert,” supporting robust financial oversight .
- No disclosed related‑party transactions involving Silva; company maintains a formal related‑party approval policy .
- Anti‑hedging and anti‑pledging policy applies to directors, aligning with investor‑friendly risk controls .
- Board/committee cadence in 2024 indicates active governance; incumbents met 75%+ attendance expectations (Silva joined late 2024) .
-
Watch items
- Alignment: As of the 2025 record date, Silva reported no beneficial share ownership; alignment currently relies on option-based equity awards (initial grant outstanding) .
- Equity acceleration: Director equity awards fully accelerate upon a sale of the company (single-trigger), which some investors scrutinize for potential misalignment in change‑of‑control scenarios .
Overall: Silva brings deep accounting and public company finance expertise as Audit Chair, with formal independence and financial expert designation. The primary alignment gap is the absence of reported share ownership as of the record date, partially mitigated by option grants and strict anti‑hedging/pledging policies .