David Schenkein
About David P. Schenkein
David P. Schenkein, M.D. is an independent director of Regeneron, age 67, serving since 2023, with a deep background spanning biopharma leadership, venture investing, and clinical practice . He is a General Partner and Co-lead of the Life Sciences team at GV (formerly Google Ventures) since 2019 and an adjunct attending physician in hematology at Tufts Medical Center since 2009 . Schenkein previously served as President, CEO, Chair, and director of Agios Pharmaceuticals, and held senior clinical and development roles at Genentech and Millennium; he was also an adjunct clinical professor at Stanford and a director at Foundation Medicine and bluebird bio . He brings public company CEO experience, financial and operating expertise, and science/biotech credentials to the board .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Agios Pharmaceuticals, Inc. | President, CEO, Chair, Director; Strategic Advisor (current) | Prior roles; Strategic Advisor ongoing | Led company formation and commercialization; oversight of R&D and corporate strategy |
| Genentech Inc. | SVP, Clinical Hematology/Oncology | Prior | Directed clinical development in hem/oncology |
| Millennium Pharmaceuticals, Inc. | SVP, Clinical Research | Prior | Led clinical research programs |
| Stanford University School of Medicine | Adjunct Clinical Professor of Medical Oncology | Prior | Academic and clinical teaching |
| Foundation Medicine, Inc. | Director | Prior | Board oversight at precision oncology company |
| bluebird bio, Inc. | Director | Prior | Board oversight at gene therapy company |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| GV (Google Ventures) | General Partner and Co-lead, Life Sciences | Since 2019 | Venture leadership; potential deal-flow/interlocks to monitor |
| Tufts Medical Center | Adjunct Attending Physician (Hematology) | Since 2009 | Clinical engagement |
| Denali Therapeutics Inc. | Director | Current | Public company board |
| Prime Medicine, Inc. | Director | Current | Public company board |
Board Governance
| Item | Detail |
|---|---|
| Independence | Board has determined Schenkein is independent under Nasdaq standards and corporate guidelines |
| Committees | Technology Committee member; the Committee oversees research and clinical programs and emerging science; 2024 meetings: 2 |
| 2024 Attendance | Board 7/7; Technology 2/2, evidencing strong engagement |
| Executive Sessions | Independent directors hold executive sessions at each regularly scheduled board meeting, led by the Lead Independent Director |
| Board Quality Signals | Board declassification and elimination of supermajority provisions proposed in 2025 in response to investor feedback; 99% average director attendance; extensive shareholder engagement |
Fixed Compensation
| Component | 2024 Amount | Notes |
|---|---|---|
| Annual Board Retainer (Cash) | $90,000 | Standard non-employee director retainer |
| Committee Membership Retainer (Cash) | $10,000 | Per standing committee; chairs receive additional $10,000; Lead Independent Director receives $50,000 |
| 2024 Fees Earned (Cash) – Schenkein | $100,000 | Board + one committee retainer |
Performance Compensation
| Equity Element | 2024 Grant Date Fair Value | Quantity | Key Terms |
|---|---|---|---|
| RSUs (Annual, prorated) | $37,310 | Not disclosed; RSUs outstanding 282 as of 12/31/2024 | Mandatory deferral; shares delivered upon earliest of end of service, 7th anniversary (unless longer deferral elected), or change in control; vest pro-rata at first annual meeting post-grant and remainder on first anniversary |
| Stock Options (Annual, prorated) | $151,681 | Options outstanding 3,529 as of 12/31/2024 | 10-year term; exercise price equals fair market value at grant; vesting pro-rata at first annual meeting post-grant and remainder on first anniversary; unvested awards fully vest upon change in control (with director right to nullify acceleration to avoid excise tax) |
Director compensation program emphasizes equity, primarily stock options (target mix 80% options / 20% RSUs, $600,000 targeted aggregate for January 2024 awards, prorated for new directors like Schenkein) to align with long-term shareholder value and attract highly qualified science-focused directors . Vesting continues post-retirement subject to age/tenure conditions, and options expire 10 years from grant; change-in-control provides full vesting of non-employee director awards .
Other Directorships & Interlocks
| Company | Role | Committee Roles | Potential Interlock Considerations |
|---|---|---|---|
| Denali Therapeutics Inc. | Director | Not disclosed | Overlaps with biotech ecosystem; monitor any Regeneron transactions with Denali |
| Prime Medicine, Inc. | Director | Not disclosed | Genome editing exposure; monitor potential competitive/transactional overlaps |
| GV (Google Ventures) | GP Co-lead Life Sciences | Investment committee leadership (implied) | As a venture GP, potential conflicts if Regeneron considers transactions with GV portfolio companies; Regeneron’s related-person transactions policy and Audit Committee oversight mitigate risk |
Expertise & Qualifications
- Industry, executive leadership, science/biotech, research/academic, business strategy/operations, financial expertise, and public company CEO experience, as recognized in board qualifications .
- Brings clinical hematology/oncology perspective (Tufts; prior Genentech/Millennium roles) and venture capital lens via GV .
Equity Ownership
| Item | Detail |
|---|---|
| Total Beneficial Ownership | 4,472 shares of common stock (includes 4,116 shares via options exercisable/releasable within 60 days and 356 shares via RSUs releasable within 60 days upon termination) |
| Options Outstanding (12/31/2024) | 3,529 options |
| RSUs Outstanding (12/31/2024) | 282 RSUs |
| Ownership % of Common | Less than 1% |
| Ownership Guidelines | Directors and senior executives are subject to robust stock ownership guidelines; “owned” includes time-based restricted stock/RSUs but excludes unexercised options and unvested PSUs |
| Hedging/Pledging | Company prohibits hedging and pledging of securities by directors and employees |
Governance Assessment
- Committee assignments and engagement: Full attendance at board and Technology Committee meetings in 2024 suggests high engagement and effective oversight of R&D programs .
- Independence and conflicts: Affirmed independent; board considered affiliations and found no conflicts impairing independence; Regeneron maintains a stringent related-person transactions policy administered by the Audit Committee .
- Compensation alignment: Director pay emphasizes equity (options and RSUs), with RSU deferral and 10-year option terms that align incentives with long-term TSR and scientific milestones; Schenkein’s 2024 mix was approximately $100,000 cash, $151,681 options, $37,310 RSUs for a total of $288,991 .
- Signals: Regeneron’s ongoing governance enhancements (board declassification proposal, elimination of supermajority vote requirements, extensive investor outreach) and strong say-on-pay approval (95% in 2024) reinforce board accountability and investor confidence .
RED FLAGS: None identified from disclosures—no attendance issues, no disclosed related-party transactions involving Schenkein, and hedging/pledging is prohibited; continue monitoring for potential transaction interlocks due to GV role and other public boards .