George Sing
Director at REGN
Board
About George L. Sing
Independent director of Regeneron Pharmaceuticals since 1988; age 75; currently chairs the Audit Committee and serves on the Compensation Committee . Background includes extensive healthcare venture capital and operating leadership, CEO of GanD, Inc. (since 2016) and Chair of Grace Science, LLC (since 2017), with skills in industry, finance, strategy, and technology/digital domains .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| GanD, Inc. | Chief Executive Officer | Since 2016 | Healthcare venture and operating leadership |
| Grace Science, LLC | Chair | Since 2017 | Leadership in biotechnology; governance and strategy |
External Roles
| Organization | Role | Type | Notes |
|---|---|---|---|
| — | — | Public company board | No other public company directorships disclosed for Sing |
| GanD, Inc. | CEO | Private company | Operating leadership |
| Grace Science, LLC | Chair | Private company | Governance leadership |
Board Governance
- Independence: Determined independent under Nasdaq standards; also independent for Audit and Compensation Committees; designated “audit committee financial expert” alongside peers .
- Audit Committee: Chair; 9 meetings held in 2024; mandate includes auditor oversight, financial reporting, internal controls, risk, and related-person transactions; recent focus areas included international expansion, cybersecurity, AI, and finance/IT succession .
- Compensation Committee: Member (with Chair Poon); 10 meetings in 2024; oversight of executive pay, human capital strategy, goals/objectives, and CD&A; recent focus on equity program expectations, leadership retention, pay mix, and perquisites .
- Attendance: Perfect attendance on Board and committees in 2024 (Board 7/7; Audit 9/9; Compensation 10/10) .
- Executive sessions: Independent directors meet in executive session after each regularly scheduled Board meeting under Lead Independent Director oversight .
| Body | Role | 2024 Attendance |
|---|---|---|
| Board of Directors | Director | 7/7 |
| Audit Committee | Chair | 9/9 |
| Compensation Committee | Member | 10/10 |
Fixed Compensation
| Component (2024) | Amount (USD) |
|---|---|
| Fees earned or paid in cash | $120,000 |
| All other compensation (Matching Gift Program) | $5,000 |
| Total cash and other | $125,000 |
Program context (non-employee directors):
- Annual Board retainer $90,000; $10,000 per standing committee; additional $10,000 per committee chair; Lead Independent Director retainer $50,000; reimbursements for actual expenses; eligible for Matching Gift Program .
Performance Compensation
| Component (2024) | Grant Date Fair Value (USD) | Outstanding Holdings |
|---|---|---|
| Stock awards (RSUs) | $119,926 | 1,382 RSUs outstanding as of 12/31/2024 |
| Option awards | $479,846 | 43,864 options outstanding as of 12/31/2024 |
| Total annual equity | $599,772 | — |
Key terms:
- Annual equity target per director: $600,000 (80% options; 20% RSUs) granted January 2024; market-benchmarked by independent consultant .
- Exercise price: fair market value on grant date (average of high/low Nasdaq price) .
- Vesting: pro-rata through first Annual Meeting post-grant; remainder on first anniversary; options expire at 10 years .
- RSU deferral: mandatory deferral until earliest of (i) board service termination, (ii) 7th anniversary of grant, or (iii) change in control; longer deferral election permitted .
- Retirement and CIC: continued vesting after retirement if age/tenure conditions met; full acceleration upon change in control (with right to nullify acceleration to avoid excise tax) .
Other Directorships & Interlocks
| Area | Disclosure |
|---|---|
| Compensation Committee interlocks | None; no members (including Sing) have served as Regeneron officers; no reciprocal interlocks with other issuers . |
| Shared directorships with competitors/suppliers/customers | Not disclosed; Board assessed affiliations and found no conflicts impairing independence . |
Expertise & Qualifications
- Healthcare venture capital and biomedical operating experience; financial expertise; business strategy/operations; technology/digital experience .
- Audit Committee Financial Expert qualification under SEC rules .
- Board concluded his healthcare and financial expertise, executive leadership, and company knowledge support his directorship .
Equity Ownership
| Metric | Amount |
|---|---|
| Beneficial ownership (common stock) | 73,237 shares as of April 15, 2025 |
| Options outstanding (director grants) | 43,864 as of 12/31/2024 |
| RSUs outstanding (director grants) | 1,382 as of 12/31/2024 |
| Pledging of shares | Not disclosed in proxy; Board considered affiliations and independence . |
| Stock ownership guidelines | Company maintains robust guidelines; “owned” includes common/Class A and time-based RS/RSU; excludes unexercised options and unvested PSUs . |
Governance Assessment
- Strengths: Independent director with perfect attendance and deep committee engagement; Audit Chair and SEC-defined financial expert overseeing external audit, controls, and risk; active role in Compensation Committee; signs Audit Committee Report recommending PwC appointment and inclusion of audited financials .
- Alignment: Director pay emphasizes long-term equity (options/RSUs) with vesting/deferral features fostering long-term orientation; annual cash retainer below peer medians, reinforcing equity-heavy mix .
- Independence/Conflicts: Board explicitly reviewed affiliations (including private roles) and found no conflicts; related-person transactions routed through Audit Committee chaired by Sing, with robust approval standards .
- Engagement signals: Board holds executive sessions of independent directors; extensive shareholder outreach; recent governance responsiveness (phased declassification proposal; eliminating supermajority requirements) supports accountability backdrop in which Sing serves .
- RED FLAGS / Watch items:
- Very long tenure (since 1988) can raise independence perception risk; however, Board articulates rationale for continuity in drug development cycles and maintains refreshment mechanisms and time-commitment limits .
- Dual-class capital structure persists; mitigants include high common shareholder voting power (~85%), empowered Lead Independent Director, and declassification proposal; not specific to Sing but relevant to overall governance context .