Richard Markus
About Richard Markus
Richard Markus, M.D., Ph.D., is Chief Medical Officer at Arcus Biosciences (RCUS), appointed effective January 31, 2025; he is 59 years old. He previously served as CEO of Dantari, Inc. (2019–2024) and held senior development roles at Amgen (2006–2019), including VP, Global Development leading the Biosimilar Business Unit; he earned a B.S. in Cybernetics (UCLA) and M.D./Ph.D. (USC) . As context for pay-for-performance alignment, Arcus’ recent performance shows strong investor support (96% Say‑on‑Pay approval for 2023 at the 2024 AGM) and company-level TSR/net income trends below, while 2024 highlights emphasized late-stage portfolio progress and extended cash runway into mid‑2027 .
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Total Shareholder Return (Value of $100) | 257.03 | 400.69 | 204.75 | 194.36 | 147.43 |
| Net Income ($USD Millions) | (123) | 53 | (267) | (307) | (283) |
| Say‑on‑Pay Approval (%) | — | — | — | 96% (for 2023 at 2024 AGM) | — |
2024 highlights: accelerated Phase 3 enrollment, casdatifan data supporting PEAK‑1, PRISM‑1 initiation, AstraZeneca collaboration, Taiho option exercise, and funding (Gilead $320M, Hercules facility) extending cash runway into mid‑2027 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Dantari, Inc. | Chief Executive Officer | 2019–2024 | Led development of a novel next‑gen ADC platform |
| Amgen | VP, Global Development; Biosimilars BU; Clinical/Medical Affairs leadership | 2006–2019 | Led R&D for biosimilars; pre‑launch Medical Affairs lead for denosumab (XGEVA) across multiple tumor types |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Not disclosed | — | — | No public company directorships or committee roles disclosed for Markus in company filings |
Fixed Compensation
| Component | 2025 Status for Markus | Notes |
|---|---|---|
| Base Salary | Not disclosed | Markus appointed Jan 31, 2025; 2024 NEO pay tables do not include him |
| Target Bonus % / $ | Not disclosed | Company sets targets referencing 50th–75th percentile peers; NEO bonus framework described generally |
| Perquisites | Not disclosed | Company generally avoids enhanced perqs; modest stipends for employees (e.g., health/wellness, mobile) |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed for Markus | — | — | — | — | — |
- Company program emphasizes pay‑for‑performance, with annual corporate goals tied to timelines for registrational trials (STAR‑121/221), initiation of PRISM‑1, generating casdatifan data, advancing early clinical portfolio (AB801/AB598), and securing funding; specific weightings are not disclosed due to competitive sensitivity .
Equity Ownership & Alignment
- Insider Trading Policy prohibits short sales, derivative transactions (puts/calls/other), and borrowing to purchase company securities; intent is compliance and alignment, reducing hedging-related misalignment risks .
- Equity Administration Policy standardizes grant timing (effective date = next 8th or 23rd trading day post‑approval), pricing, and vesting mechanics across awards .
- Executive vesting conventions (based on recent NEO disclosures): options typically vest monthly over 48 months; RSUs vest in four equal annual installments; these schedules imply gradual supply potential but also strong retention hooks .
Employment Terms
| Item | Terms |
|---|---|
| Employment start date | Effective January 31, 2025 (appointed as CMO) |
| Severance (no CIC) | Lump‑sum cash = 12 months base salary; company‑paid COBRA for 12 months; company may, at its discretion, pay prorated bonus; requires release of claims |
| Severance (within 12 months post CIC; double‑trigger) | Lump‑sum cash = 24 months base salary; 100% of target annual bonus; full vesting of all outstanding equity awards; company‑paid COBRA for 24 months; requires release of claims |
| Definitions | “Cause” and “Good Reason” are defined (material breach/policy failure, felony, misconduct; and pay cut >10%, relocation >25 miles, material duty reduction, respectively) |
| Offer letters | Company uses offer letters for NEOs to set initial salary/bonus/equity; Markus’ specific offer letter terms not disclosed |
Investment Implications
- Alignment and selling pressure: Monthly option vesting and annual RSU vesting, combined with an Insider Trading Policy prohibiting hedging and derivatives, support long‑term alignment and reduce near‑term speculative trading; however, customary vesting can produce periodic, modest supply as awards vest over time .
- Retention risk: Robust CIC protections (24‑month cash, target bonus, full equity acceleration) materially reduce transition risk but create meaningful change‑of‑control economics; outside CIC, 12‑month salary and COBRA coverage are competitive for Bay Area biotech talent .
- Pay‑for‑performance structure: Company emphasizes clinical milestones over purely financial KPIs; 2024 goals focused on Phase 3 progress, proof‑of‑concept, and capital runway, consistent with late‑stage biotech value creation drivers . Strong 2024 Say‑on‑Pay support (96%) indicates shareholder acceptance of design and outcomes .
- Data gaps: Markus’ 2025 base salary, bonus targets, equity grants, and current beneficial ownership were not disclosed in the 2025 proxy or 8‑Ks, limiting precision on his personal pay mix, vesting schedule specifics, and “skin‑in‑the‑game” ownership diagnostics .
Overall: The governance framework (clawback, equity administration, committee independence) and insider policy are shareholder‑friendly; compensation architecture hinges on clinical execution, with CIC terms typical for late‑stage biotech executives. Near‑term trading signal visibility (e.g., Form 4 activity, pledged shares) is limited by lack of disclosure for Markus to date; monitoring future proxy and Form 4 filings will be key .