Sarbani Chaudhuri
About Sarbani Chaudhuri
Sarbani Chaudhuri (age 50) joined Rocket Pharmaceuticals (RCKT) as Chief Commercial & Medical Affairs Officer in April 2025, after leading Johnson & Johnson Innovative Medicine’s global hematology franchise to top market position in 2024 and spearheading multiple oncology launches (DARZALEX, CARVYKTI, TECVAYLI, TALVEY) . She holds a Bachelor of Engineering from VJTI (University of Mumbai), a Master of Business Management from XLRI, and an MBA from the University of Pennsylvania (healthcare management) . Tenure at RCKT began April 7, 2025 under an Executive Employment Agreement; RCKT was still pre-revenue with a Q1 2025 net loss of $61.3M and G&A ramp for commercial preparation, contextualizing her mandate to build go-to-market capabilities .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Johnson & Johnson Innovative Medicine | Vice President, Global Head of Hematology | 2022–Mar 2025 | Led exponential growth; established global leadership in hematology in 2024; launched DARZALEX®, CARVYKTI®, TECVAYLI®, TALVEY®; expanded into lymphoma/leukemia |
| AstraZeneca | Global Head of ENHERTU® and Breast Cancer | 2020–Nov 2021 | Built leadership across HER2-directed tumors; foundational commercial strategy |
| Pfizer | Various commercial leadership roles | 2014–2020 | Progressive commercial leadership across oncology and rare diseases |
| Novartis (U.S.) | Sales & marketing leadership | Earlier career | Strengthened U.S. go-to-market model |
Fixed Compensation
| Component | Terms |
|---|---|
| Base Salary | $525,000 gross annual rate (subject to review) |
| Target Annual Bonus % | 45% of base salary; Compensation Committee discretion based on performance; ineligible if not employed through Dec 31 of the fiscal year; forfeiture if terminated for Cause prior to payment date |
| Sign-on Bonus | $100,000 lump sum within 30 days of start; 100% repay if resignation without Good Reason or termination for Cause within 12 months; 50% repay if between 12–24 months; does not alter at-will employment |
Performance Compensation
| Award Type | Grant Structure | Vesting | Notes |
|---|---|---|---|
| New-hire Equity | Aggregate grant-date fair value $2,500,000; 50% stock options; 50% RSUs; granted the first Monday of the month following the Effective Date under the 2014 Stock Plan | Company policy: annual RSUs and options generally vest one-third on first anniversary of grant; remaining two-thirds vest in equal quarterly installments over the subsequent two years | Subject to Plan terms; equity grants must be approved by Board/Comp Committee; exercise price ≥ fair market value on grant date |
| Annual Long-Term Incentive | Eligible for future annual awards at the Committee’s discretion | Per Plan | Committee calibrates mix and amounts against peer practices and performance |
| Annual Cash Incentive | Corporate and individual objectives; Committee discretion for payout | Paid no later than Mar 15 of following year if eligible | Company objectives historically include pipeline advancement, regulatory progress, culture/ESG; corporate factor used for NEOs |
Equity Ownership & Alignment
| Item | Details |
|---|---|
| Beneficial Ownership (as of Apr 21, 2025 record date) | Not listed with beneficial ownership in the proxy table (joined April 2025) |
| Stock Ownership Guidelines | CEO: ≥3× salary; other executive officers: ≥1× salary; phase-in period generally 5 years from adoption or appointment; share retention obligations if below minimum |
| Hedging/Pledging | Hedging prohibited; short sales and derivative transactions prohibited; pledging prohibited except with full Board approval |
| Clawbacks | Broad clawback policy adopted March 2022 (illegal/gross negligence, incorrect financials, adverse impact); Nasdaq Rule 5608-compliant clawback adopted Sept 2023 for incentive-based comp upon restatement |
| Equity Grant Practices | Grants approved by Board/Comp Committee; effective dates per policy; no option repricing/cash-out/exchange without shareholder approval |
Employment Terms
| Provision | Without Cause / Good Reason | Death / Disability | Change-in-Control (CiC) Termination (within 12 months post-CiC) |
|---|---|---|---|
| Severance | Lump sum equal to 9 months of base salary; eligibility for prior-year bonus per Sec. 2(c)(iii); COBRA premium reimbursement for 9 months (if timely elected) | Accrued amounts; pro-rata portion of Incentive Bonus at Committee discretion | Accrued amounts; lump sum equal to 12 months of base salary; lump sum equal to Incentive Bonus the executive would have been entitled for the fiscal year; COBRA premium reimbursement for 12 months (if timely elected) |
| Definitions | Good Reason: material adverse change in duties/responsibilities/title/reporting; material reduction in base/bonus; relocation >50 miles (subject to cure periods) | Cause: material breach; felony or crime of moral turpitude; material misconduct/willful nonperformance | CiC definition includes sale of substantially all assets; merger/reorg/consolidation with change in control; sale of all stock; or other transaction where pre-deal holders lose majority voting power |
| 280G/4999 | Net benefit test with potential cutback to avoid excise tax if beneficial; independent tax counsel determination; Section 409A compliance |
Compensation Structure Analysis
- Pay-for-performance architecture: high equity weighting at hire ($2.5M split between options/RSUs) and annual LTI eligibility align incentives to long-term value creation; clawbacks and ownership guidelines strengthen alignment .
- Risk controls: prohibitions on hedging/pledging, no option repricing without shareholder approval, and CI&C severance structured as double-trigger (termination plus CiC) mitigate shareholder-unfriendly practices; no tax gross-ups, with 280G cutback mechanism .
- Vesting and potential selling pressure: one-third vesting at first anniversary of grant (first Monday of month following start date), with subsequent quarterly vesting over two years under company policy—expect initial RSU vesting around first-anniversary and staggered quarterly events thereafter, subject to blackout and pre-clearance under insider trading policy .
Investment Implications
- Retention and alignment: New-hire equity with three-year vesting schedule and ownership guidelines creates strong retention incentives through at least year three; clawbacks and hedging prohibitions reduce misalignment risk .
- Near-term trading signals: First significant vesting milestone at the one-year mark per policy could introduce modest supply; blackout periods and 10b5-1 preclearance reduce opportunistic sales—monitor Section 16 filings as dates approach .
- Execution upside: Proven launch track record in hematology/oncology (J&J, AstraZeneca) is additive to RCKT’s transition toward commercial readiness; governance and say-on-pay support (98.4% approval in 2024) indicate stable compensation oversight .
- Downside risks: Company was pre-revenue in Q1 2025 with elevated G&A for commercialization; bonus eligibility requires year-end employment and Committee discretion—comp outcomes tied to regulatory/launch progress .
All data points above are sourced exclusively from RCKT SEC filings and company documents.