Antoni Ribas
About Antoni Ribas
Antoni Ribas, M.D., Ph.D., age 59, has served as an independent director of Arcus Biosciences since October 2019 and has been a member of the company’s Scientific Advisory Board since 2015. He is a Professor of Medicine, Surgery, and Molecular & Medical Pharmacology at UCLA, Director of the Tumor Immunology Program at UCLA’s Jonsson Comprehensive Cancer Center, and Director of the UCLA Parker Institute for Cancer Immunotherapy Center; he previously served as AACR President from April 2020 to April 2021. His credentials center on translational and clinical immuno-oncology, including leadership on checkpoint inhibitors, gene-engineered T cells, and BRAF-targeted therapies, with principal investigator roles on trials including Keytruda®; he holds MD/PhD degrees from Universidad de Barcelona and trained at Vall d’Hebron and UCLA .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| American Association for Cancer Research (AACR) | President | Apr 2020 – Apr 2021 | Led global oncology research agenda and advocacy . |
| UCLA Jonsson Comprehensive Cancer Center | Director, Tumor Immunology Program | Since Jun 2010 | Program leadership in immune-oncology . |
| UCLA Parker Institute for Cancer Immunotherapy Center | Director | Since 2016 | Center leadership, immunotherapy collaboration hub . |
| Flexus Biosciences, Inc.; Kite Pharma, Inc. | Founder/advisor (historical) | Various | Founding/advisory roles; immuno-oncology innovation . |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| UCLA (Medicine, Surgery, Molecular & Medical Pharmacology) | Professor | Since Jul 2011 | Academic leadership across translational research . |
| Scientific societies (AACR Academy, ASCI, AAP, NAM) | Elected fellow/member | Various | Recognition of scientific excellence . |
Board Governance
- Independence: The Board determined Ribas is independent under NYSE standards; no material or disqualifying relationships identified .
- Board and committee workload: Board met 8 times in FY2024; all directors attended ≥75% of Board and committee meetings. Committees held: Audit (6), Compensation (5), Nominating & Corporate Governance (1), Science (4) .
- Committee assignments: Ribas serves on the Science Committee; he is not listed as chair. Science Committee composition: Berger, Higgins, Lacey, Perlman (Chair), Ribas .
- Class/tenure: Class I director, originally elected in 2019; re-nomination for term through 2028 .
Fixed Compensation
| Component | Policy/Amount | Timing/Notes |
|---|---|---|
| Annual cash retainer (non-employee director) | $45,000 (policy prior to Jun 6, 2024) | Paid quarterly in arrears. |
| Committee retainers (non-chair) | Audit: $10,000; Compensation: $7,500; Nominating: $7,500 (post Jun 6, 2024); Science: $7,500 | Paid quarterly. |
| Chair retainers | Audit: $20,000; Compensation: $15,000; Nominating: $15,000 (post Jun 6, 2024); Science: $15,000 | Paid quarterly. |
| Policy update (effective Jun 10, 2025) | Board retainer increased to $50,000; Lead Independent Director $30,000; other amounts unchanged vs 2024 post-update | Adopted at 2025 Annual Meeting; formalized via 8-K. |
| Director Cash Received (FY2024) | Amount ($) |
|---|---|
| Fees Earned or Paid in Cash – Antoni Ribas | $52,500 |
| All Other Compensation (advisory boards) – Antoni Ribas | $20,000 |
Implications: Cash retainers are modest relative to equity. The June 2025 increase in the base retainer (+$5,000) and Lead Independent fee (+$5,000) slightly raises guaranteed cash but preserves equity-heavy mix .
Performance Compensation
| Metric Type | Structure | FY2024 Director Grant Values | Vesting Terms |
|---|---|---|---|
| Options (annual) | ~2/3 of annual grant value | $267,012 grant-date fair value (Ribas) | Annual option vests fully on earlier of 12 months or next annual meeting; change-in-control full vest . |
| RSUs (annual) | ~1/3 of annual grant value | $133,560 grant-date fair value (Ribas) | Annual RSU vests fully on earlier of 12 months or next annual meeting; change-in-control full vest . |
| Performance metrics tied to director pay | None disclosed | N/A | Time-based vesting; no disclosed performance conditions . |
Note: For non-employee directors, Arcus uses time-based vesting; no TSR or operational KPIs are attached to director equity awards .
Other Directorships & Interlocks
- Public company boards: None disclosed for Ribas in Arcus’s proxy biography .
- Scientific/academic and private roles: Chairman/founder at Lutris Pharma (private); various advisory roles historically (e.g., PACT Pharma, Appia Bio scientific boards), per external sources; these are not public-company director roles .
- Interlocks/conflicts: Arcus identifies three Gilead designees on the Board (Berger, Higgins, Mercier) under an Investor Rights Agreement; Ribas is not a Gilead designee and is affirmed independent .
Expertise & Qualifications
- Disciplines: Translational and clinical immuno-oncology; leadership in checkpoint inhibitors, gene-engineered T cells, BRAF-targeted therapies; extensive PI experience .
- Education: MD/PhD, Universidad de Barcelona; oncology residency at Vall d’Hebron; postdoc and fellowship at UCLA .
- Recognitions: AACR-CRI Lloyd J. Old Award, AACR Richard & Hinda Rosenthal Award, NCI Outstanding Investigator Award; elected fellow of AACR Academy, ASCI, AAP, NAM .
Equity Ownership
| Ownership Detail (as of Mar 1, 2025) | Count |
|---|---|
| Shares owned | 30,503 (includes 8,553 held by trusts) |
| Shares acquirable within 60 days | 120,025 |
| Total beneficially owned | 150,528; less than 1% of outstanding |
| Outstanding Arcus shares baseline | 105,841,422 |
| Unvested director equity at 12/31/2024 | Options 143,400; RSUs 8,400 (position inventory) |
| Pledging/hedging | Insider Trading Policy prohibits short sales and derivatives; no pledging disclosed . |
Alignment: Ribas has meaningful equity exposure via options and RSUs; no pledging disclosed, and derivatives are prohibited under policy .
Insider Trades
| Date Filed | Transaction Date | Type | Instrument | Quantity | Price/Terms |
|---|---|---|---|---|---|
| Jun 12, 2025 | Jun 10, 2025 | Form 4 filed | Annual director awards (per program) | Not stated in index | See Form 4 filing . |
| Jun 7, 2024 | Jun 6, 2024 | Form 4 | RSU grant | 8,400 | Time-based vesting . |
| Jun 7, 2021 | Jun 3, 2021 | Form 4 | Stock options (right to buy) | 14,100 | $24.79 strike . |
| Jan 22, 2020 | Jan 17, 2020 | Form 4 | Stock options (right to buy) | Not shown in snippet | $10.23 strike . |
Note: The 2025 Form 4 confirms annual award activity around the annual meeting consistent with the director compensation program .
Say-on-Pay & Shareholder Feedback
- 2024 say-on-pay approval: ~96% support for 2023 NEO compensation .
- 2025 Annual Meeting results: Say-on-pay received 84,812,809 For; 5,446,383 Against; 54,507 Abstentions; 8,580,999 broker non-votes .
- 2025 director election (Ribas): 74,827,393 For; 15,486,306 Withheld; 8,580,999 broker non-votes .
Compensation Structure Analysis (Director)
- Mix: Equity-heavy; annual grant ~$400k split ~2/3 options, ~1/3 RSUs; cash retainer was $45k in FY2024; time-based vesting; no performance metrics for director equity .
- 2025 change: Modest increase to base cash retainer to $50k; overall structure remains equity-centric .
- Perquisites: $20,000 “All Other Compensation” in FY2024 for advisory board service; disclosed across directors .
Potential Conflicts & Related-Party Exposure
- Gilead arrangements: Arcus maintains collaboration and purchase agreements with Gilead; Gilead holds ~35% beneficial ownership and designates three directors (Berger, Higgins, Mercier). Ribas is independent and not a Gilead designee .
- Related-party transactions: No Ribas-specific related-party transactions disclosed; Audit Committee oversees related-party review .
Governance Assessment
- Strengths: Deep domain expertise; independence affirmed; consistent Science Committee engagement; satisfactory attendance; shareholder support for governance (say-on-pay approval, re-election results) .
- Alignment: Holds equity and annual time-based grants; no pledging disclosed; policy prohibits hedging/derivatives, supporting alignment .
- Oversight: Science Committee role aligns with expertise; not identified as committee chair, reducing concentration of power .
- Watch items:
- Board interlocks via Gilead designees could create perceived influence; continued vigilance on independence and conflict management warranted .
- Advisory board cash compensation ($20,000 FY2024) for Ribas and others should be monitored for scope; currently disclosed and modest .
- RED FLAGS: None specific to Ribas identified (no low attendance, no related-party transactions, no pledging, no option repricing). The broader Gilead influence is a structural governance consideration rather than a Ribas-specific red flag .