Elisabeth Björk
About Elisabeth Björk
Elisabeth Björk, M.D., Ph.D. (age 63) is an independent director of Rocket Pharmaceuticals (RCKT) serving since April 2020. She is Senior Vice President, Head of Late-Stage Development, Cardiovascular, Renal and Metabolism (CVRM), Biopharmaceuticals R&D at AstraZeneca; an endocrinologist by training and associate professor of medicine at Uppsala University, with 15 years of clinical practice and diabetes research prior to joining AstraZeneca in 2002 . The Board has determined she is independent under Nasdaq rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| AstraZeneca | SVP, Head of Late-Stage Development, CVRM (Biopharma R&D) | Since June 2012 | Leads global late-stage development in CVRM |
| AstraZeneca | Roles of increasing seniority, clinical phases I–IV | 2002–2012 | Clinical drug development leadership |
| University Hospital, Uppsala | Head, Diabetes & Endocrinology Unit | Pre-2002 | Led clinical practice and research in diabetes |
| Uppsala University | Associate Professor of Medicine | Ongoing | Academic endocrinology appointment |
External Roles
| Organization | Role | Notes |
|---|---|---|
| Pharvaris N.V. | Board member | External public-company board seat |
| Calliditas Therapeutics AB | Board member | External public-company board seat |
| Chalmers University of Technology | Board member | Academic institution board |
| Chalmers Ventures AB | Board member | Venture/innovation board |
| Björks Matematik o Mera AB | Board member | Private company board |
| rfidcompare europe AB | Board member | Private company board |
Board Governance
- Committee assignments: Audit Committee member; Research & Development Committee chair (the R&D Committee met once in 2024; Audit met four times) .
- Independence and attendance: Board determined independence; all directors then in office attended ≥75% of Board and committee meetings in 2024 and attended the 2024 annual meeting .
- Executive sessions and leadership: Independent directors meet in regular executive sessions; the Board has no lead independent director .
- Overboarding oversight: The Board reviews directors’ other commitments to assess time capacity before nomination and concluded directors have sufficient time .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| 2024 Fees Earned (cash) | $56,936 | Reported for Dr. Björk in 2024 director compensation table |
| 2024 Option Awards (grant-date FV) | $359,990 | Annual director option grant; she elected options in lieu of cash retainer per footnote |
| 2024 Total | $416,926 | Sum of cash and option grant-date fair value |
| Policy: Board annual retainer | $40,000 | For non-employee directors (excl. chairman) |
| Policy: Audit Committee member | $10,000 | Annual cash retainer for members |
| Policy: R&D Committee chair | $15,000 | Annual cash retainer for chair |
Note: Footnote discloses Dr. Björk elected to receive options in lieu of her 2024 cash retainer; the table nonetheless reports $56,936 as “Fees Earned” for 2024 .
Performance Compensation
- No performance-based metrics are used for non-employee director compensation; the policy provides for cash retainers and equity (options), with no disclosed performance conditions for directors .
Other Directorships & Interlocks
| Company | Nature of Potential Interlock | Observation |
|---|---|---|
| Pharvaris N.V. | External biotech board | No related-party transactions with RCKT disclosed |
| Calliditas Therapeutics AB | External biotech board | No related-party transactions with RCKT disclosed |
| AstraZeneca (employment) | Senior executive role | Board determined independence; no RCKT–AstraZeneca related transactions disclosed |
Expertise & Qualifications
- Drug development leadership across phases I–IV; late-stage CVRM portfolio leadership at AstraZeneca .
- Clinical endocrinology and academic credentials (associate professor, Uppsala) .
- Financial literacy: Audit Committee members (including Dr. Björk) are deemed financially literate (Audit Chair Boess is the audit committee financial expert) .
Equity Ownership
| Measure | Detail |
|---|---|
| Beneficial ownership (as of Apr 21, 2025) | 158,465 shares issuable upon exercise of options exercisable within 60 days; <1% of outstanding shares |
| Director options held (12/31/2024) | 186,341 unexercised options as of year-end 2024 |
| Hedging/pledging | Hedging prohibited; pledging prohibited without prior Board approval |
| Ownership guidelines | Directors required to own ≥1x annual retainer within three years of appointment/adoption (Mar 2022) |
Governance Assessment
- Strengths
- Independent director with deep late-stage R&D expertise; chairs R&D Committee, aligning oversight with scientific strategy .
- Strong engagement/attendance in 2024; participates on Audit Committee, bringing clinical development perspective with required financial literacy .
- Compensation tilt to equity (elected options in lieu of cash), promoting alignment with shareholders; stock ownership guidelines and anti-hedging policy enhance alignment .
- Monitoring items
- Workload: Senior AstraZeneca role plus multiple external boards; Board states it evaluates overboarding and concluded directors have sufficient capacity .
- Board structure: No lead independent director, though independent executive sessions occur regularly .
- Compliance: Company disclosed a late Form 4 filing for Dr. Björk (Sep 26, 2024 option grant reported Oct 29, 2024) among other late filings; monitor Section 16 timeliness processes .
- Conflicts/related parties
- No related-party transactions involving Dr. Björk disclosed; Board reaffirmed her independence .
Director Compensation (Detail)
| Metric | 2024 |
|---|---|
| Fees Earned or Paid in Cash ($) | $56,936 |
| Option Awards ($, grant-date FV) | $359,990 |
| All Other Compensation ($) | — |
| Total ($) | $416,926 |
Board Governance (Committee Service)
| Committee | Role | 2024 Meetings |
|---|---|---|
| Research & Development | Chair | 1 meeting |
| Audit | Member | 4 meetings |
Attendance & Engagement
- 2024 attendance: Each director then in office attended at least 75% of Board/committee meetings; all attended the 2024 annual meeting .
- Independent sessions: Independent directors meet in executive sessions without management/Non-independent directors .
Related-Party Transactions (for context)
- Disclosed 2024–2025 related-party transactions involve RTW-affiliated financings, a consulting agreement with Dr. Dolsten (director), and an IT consulting agreement with a company owned by Dr. Patel’s spouse; none involve Dr. Björk .
Say-on-Pay & Shareholder Feedback (context)
- 2024 say-on-pay support was ~98.4%, indicating strong shareholder backing of compensation practices; Board states ongoing investor engagement .
No evidence of pledging, hedging, or related-party transactions by Dr. Björk was disclosed; independence affirmed by the Board. One late Section 16 filing was noted for 2024 option grants. Overall, her R&D chair role, equity-heavy compensation choice, and attendance support investor confidence, while workload and absence of a lead independent director remain standard governance monitoring points .