Robert Perez
About Robert J. Perez
Robert J. Perez, age 60, is an independent Class II director at Rapport Therapeutics (RAPP), appointed in November 2024. He chairs the Nominating & Corporate Governance Committee and serves on the Compensation Committee. Perez is an Operating Partner at General Atlantic (since January 2019) and was previously CEO of Cubist Pharmaceuticals until its acquisition by Merck in 2015; he holds a BS in business from California State University, Los Angeles, and an MBA from UCLA Anderson. He currently serves on the board of Immunocore Holdings Plc and has held multiple prior public company directorships; the Board determined him independent in March 2025 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| General Atlantic Service Company, L.P. | Operating Partner | Jan 2019–Present | Growth equity investor role |
| Vineyard Sound Advisors, LLC | Managing Director | Mar 2015–Jan 2019 | Biopharma advisory practice |
| Cubist Pharmaceuticals, Inc. | Chief Executive Officer | Through 2015 | Led company until acquisition by Merck |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Immunocore Holdings Plc (Nasdaq: IMCR) | Director | Sep 2019–Present | Current public company board |
| Third Harmonic Bio, Inc. (Nasdaq: THRD) | Director | Dec 2021–Jun 2024 | Prior public company board |
| Vir Biotechnology, Inc. (Nasdaq: VIR) | Director | Feb 2017–May 2024 | Prior public company board |
| AMAG Pharmaceuticals, Inc. | Director | Feb 2009–Jun 2020 | Prior public company board |
| Zafgen Inc. (now Larimar Therapeutics, Inc.; Nasdaq: LRMR) | Director | Sep 2015–May 2020 | Prior public company board |
| Spark Therapeutics (Nasdaq: ONCE) | Director | Sep 2015–May 2020 | Prior public company board |
| Life Science Cares | Founder & Chairman | Not specified | Non-profit leadership |
| Dana-Farber Cancer Institute | Board of Trustees | Not specified | Non-profit board role |
Board Governance
- Committee assignments: Chair, Nominating & Corporate Governance; Member, Compensation; not on Audit or Science & Technology .
- Independence: Board determined all directors except CEO Abraham Ceesay and Dr. Reid Huber are independent; Perez is independent (Nasdaq/SEC standards) .
- Meetings and attendance: Board met 5 times in 2024; Nominating & Corporate Governance met 3 times; Compensation met 6 times; company states each incumbent director attended at least 75% of applicable meetings during their service period; non‑employee directors held executive sessions at each regularly scheduled Board meeting .
- Risk oversight: Board oversees risk with committee chairs reporting to the full Board; Compensation oversees compensation risk; Audit oversees accounting/financial reporting; Nominating & Corporate Governance oversees governance and Board composition; Science & Technology oversees R&D/manufacturing/supply .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| 2024 Fees Earned (Cash) – Robert J. Perez | $7,921 | Pro‑rated for service in 2024 |
| Annual Board Retainer (Policy) | $40,000 | Payable quarterly, pro‑rated for partial years |
| Audit Committee Chair (Policy) | $15,000 | Additional retainer |
| Audit Committee Member (Policy) | $7,500 | Additional retainer |
| Compensation Committee Chair (Policy) | $10,000 | Additional retainer |
| Compensation Committee Member (Policy) | $5,000 | Additional retainer |
| Nominating & Corporate Governance Chair (Policy) | $8,000 | Additional retainer |
| Nominating & Corporate Governance Member (Policy) | $4,000 | Additional retainer |
| Science & Technology Chair (Policy) | $8,000 | Additional retainer |
| Science & Technology Member (Policy) | $4,000 | Additional retainer |
Performance Compensation
| Equity Award | Shares/Value | Vesting | Notes |
|---|---|---|---|
| 2024 Option Awards – Robert J. Perez (Grant-date fair value) | $585,598 | Time-based | Accounting fair value under ASC 718 |
| Initial Director Grant (Policy) | 29,756 options | 1/3 on first anniversary of vesting commencement; remaining 2/3 in 24 monthly installments | Granted on appointment/election; full acceleration upon sale of company |
| Annual Director Grant (Policy) | 14,878 options | Vests in full on earlier of 1‑year anniversary or next annual meeting | Pro‑rated if appointment off-cycle; full acceleration upon sale |
| Aggregate Director Compensation Cap (Policy) | $1,000,000 (first year), $750,000 thereafter | N/A | Annual cap on cash+equity |
| Performance metrics tied to director pay | None disclosed | N/A | Options vest time-based; no performance conditions disclosed |
Other Directorships & Interlocks
- Major shareholders and related parties include Third Rock Ventures, JJDC (Johnson & Johnson Innovation), ARCH Venture Fund, Sofinnova; the proxy discloses service agreements and license arrangements with these entities, and director affiliations for other board members (e.g., Maraganore at ARCH; Huber at Third Rock; Mistry formerly at JJDC) .
- No related party transaction disclosures naming Robert J. Perez individually were identified in the “Certain Relationships and Related Person Transactions” section .
Expertise & Qualifications
- Broad biopharma leadership including CEO experience at Cubist Pharmaceuticals and board service across multiple biotech companies .
- Governance experience as current Chair of RAPP’s Nominating & Corporate Governance Committee and member of Compensation Committee .
- Education: BS (business) – California State University, Los Angeles; MBA – UCLA Anderson Graduate School of Management .
Equity Ownership
| Item | Amount | As-of Date | Notes |
|---|---|---|---|
| Total Beneficial Ownership (Shares) – Robert J. Perez | 0 | Apr 21, 2025 | Beneficial ownership per SEC rules; options exercisable within 60 days are counted, none for Perez |
| Beneficial Ownership (%) – Robert J. Perez | 0% | Apr 21, 2025 | Based on 36,497,555 shares outstanding |
| Options Outstanding (not necessarily exercisable) | 29,756 | Dec 31, 2024 | Outstanding unexercised options held |
| Unvested RSUs / Restricted Stock | None disclosed | Dec 31, 2024 | No RSUs shown for Perez |
| Shares pledged as collateral | None disclosed | Apr 21, 2025 | No pledging disclosed; company maintains insider trading/pledging/hedging policy |
Governance Assessment
- Independence and leadership: Perez is independent and chairs the Nominating & Corporate Governance Committee, giving him direct influence over Board composition, committee chairmanships, and governance guidelines—positive for Board effectiveness .
- Engagement: Committee meeting cadence (Comp: 6; Nominating & Governance: 3; Board: 5 in 2024) and the company’s statement that each incumbent director met attendance expectations indicate adequate engagement; non‑employee directors held executive sessions at each regular Board meeting—positive governance practice .
- Compensation alignment: Director pay is modest in cash (policy $40k annual retainer) and primarily equity via options with time-based vesting and sale-of-company acceleration. Perez’s 2024 compensation was largely equity ($585,598 grant-date fair value) with limited cash ($7,921)—aligns with long-term value but lacks performance-based metrics; annual caps ($1.0m first year, $0.75m thereafter) limit pay inflation .
- Ownership alignment: As of April 21, 2025, Perez held no beneficial common shares, which is a potential alignment shortfall, though he holds outstanding options granted at appointment that vest over time .
- Conflicts: No Perez-specific related party transactions disclosed; the company has relationships with large shareholders (TRV, JJDC, ARCH, Sofinnova) and uses Aon as an independent compensation consultant with a documented independence assessment—mitigates compensation consultant conflicts .
- Policies: Insider trading policy addressing trading, pledging, and hedging is adopted; Code of Business Conduct and Ethics in place—baseline governance controls .
RED FLAGS
- Zero beneficial share ownership as of April 21, 2025 may signal limited near-term “skin in the game” until options vest; monitor for future accumulation or vesting/exercises .
- Change-of-control acceleration for director option awards is disclosed; while common, it can weaken pay-for-performance alignment if not balanced by strong independence and oversight .