Ronald Hunt, M.B.A.
About Ronald Hunt, M.B.A.
Ronald Hunt is an independent Class III director of Rallybio (RLYB), serving on the Board since 2018; his current term runs through the 2027 annual meeting. He is 60 years old (as of April 3, 2025) and a Managing Director and Member of New Leaf Venture Partners, which he joined in 2005; earlier roles include Sprout Group, Coopers & Lybrand Consulting, The Health Care Group, and commercial roles at Johnson & Johnson and SmithKline Beecham. He holds a B.S. from Cornell University and an M.B.A. from The Wharton School, University of Pennsylvania .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| New Leaf Venture Partners, L.L.C. | Managing Director and Member | Since 2005 | Life sciences venture investor; significant shareholder in RLYB via New Leaf affiliates |
| Sprout Group | Venture capital professional | Prior to 2005 (not specified) | N/A |
| Coopers & Lybrand Consulting | Consultant | Prior (not specified) | N/A |
| The Health Care Group, Inc. | Consultant | Prior (not specified) | N/A |
| Johnson & Johnson | Sales and marketing positions | Early career (not specified) | N/A |
| SmithKline Beecham Pharmaceuticals PLC | Sales and marketing positions | Early career (not specified) | N/A |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Iterum Therapeutics, Ltd. | Director | Current (not specified) | Clinical-stage company (per disclosure) |
| Harpoon Therapeutics, Inc. | Director | Prior (not specified) | N/A |
| Various private pharmaceutical/healthcare companies | Director | Current (not specified) | N/A |
Board Governance
| Item | Detail |
|---|---|
| Board Class/Term | Class III; term expires at 2027 Annual Meeting |
| Independence | Board determined Hunt is independent under Nasdaq rules; all committee members are independent |
| Committees | Audit Committee (member); Nominating & Corporate Governance Committee (member) |
| Committee Chairs | Not a chair; Audit Chair: Helen Boudreau; Nominating & Corporate Governance Chair: Christine Nash (appointed March 2025) |
| Board/Committee Meetings (2024) | Board met 7x; each director attended ≥75% of applicable meetings |
| Committee Meeting Frequency (2024) | Audit: 4 meetings; Nominating & Corporate Governance: 1 meeting |
| Risk Oversight | Board/committees oversee enterprise risk; Audit oversees cybersecurity and financial risk controls |
| Lead Independent Director | Role established Dec 2023; Lead Director: Paula Soteropoulos |
Fixed Compensation (Non-Employee Director; FY2024)
| Component | Amount ($) | Notes |
|---|---|---|
| Annual Board Retainer | 40,000 | Policy for 2024 non-employee directors |
| Audit Committee Member Fee | 7,500 | Policy amount for members (15,000 for chair) |
| Nominating & Corporate Governance Member Fee | 4,000 | Policy amount for members (8,000 for chair) |
| Cash Fees Earned (reported) | 51,500 | Hunt’s 2024 “Fees Earned or Paid in Cash” (includes amounts elected into options) |
Performance Compensation (Equity; FY2024 and Policy)
| Item | Detail |
|---|---|
| Annual Option Grant (Policy – 2024) | Option to purchase 16,500 shares; vests in full by earlier of 1-year anniversary or next annual meeting |
| Initial Option Grant (upon joining Board) | Option to purchase 33,000 shares; vests in 3 equal annual installments |
| 2025 Policy Update | Annual option increased to 28,500 shares; Compensation Committee fees increased; Lead Director cash fee increased |
| Equity Award Terms | Exercise price = closing price on grant date; 10-year term; full vesting upon change-in-control (director equity) |
| 2024 Option Award (Grant-date Fair Value) | $23,981 |
| Election to Take Retainer in Options | Hunt elected to receive annual cash retainer in option form for 2024 (per footnote) |
| Options Outstanding (12/31/2024) | 105,307 options held by Hunt as of 12/31/2024 |
Other Directorships & Interlocks
| Entity | Type | Ownership/Relationship | Relevance |
|---|---|---|---|
| New Leaf Venture Partners affiliates | 5%+ shareholder | 3,301,603 shares (7.9%); Hunt, as MD at New Leaf, may be deemed to share voting/dispositive power over New Leaf-held shares | |
| Pivotal bioVenture Partners affiliates | 5%+ shareholder | 2,404,644 shares (5.8%); fellow RLYB director Robert Hopfner is a General Partner at Pivotal | |
| Iterum Therapeutics, Ltd. | External board | Current director (Hunt) | Potential information flow/industry network (no RLYB transaction disclosed) |
Expertise & Qualifications
- Investment and board experience across public and private biopharma and healthcare; Managing Director at New Leaf Venture Partners since 2005 .
- Industry operating experience (sales/marketing) at Johnson & Johnson and SmithKline Beecham; consulting experience at Coopers & Lybrand and The Health Care Group .
- Education: B.S. Cornell; M.B.A. Wharton School .
Equity Ownership (as of March 31, 2025)
| Holder | Shares Beneficially Owned | % of Outstanding | Notes |
|---|---|---|---|
| Ronald Hunt, M.B.A. | 3,431,433 | 8.2% | Includes 129,830 options exercisable within 60 days |
| New Leaf Venture Partners affiliates | 3,301,603 | 7.9% | Hunt may be deemed to share voting/dispositive power as a Managing Director |
| Shares Outstanding (denominator) | 41,612,039 | — | As of March 31, 2025 |
Governance Assessment
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Strengths
- Independent director serving on Audit and Nominating & Corporate Governance Committees; Audit Committee meets Rule 10A-3 independence; Audit oversight includes related-party transaction review and cybersecurity risk, enhancing investor protections .
- Solid engagement: Board met 7x in 2024; each director attended at least 75% of applicable meetings .
- Strong ownership alignment: 8.2% beneficial ownership (including 129,830 options exercisable within 60 days), with additional affiliated holdings via New Leaf at 7.9% .
- No related-party transactions since Jan 1, 2022 (above SEC thresholds) were reported, mitigating conflict concerns .
-
Potential Risks / RED FLAGS to Monitor
- Significant shareholder affiliation: As a Managing Director of New Leaf (7.9% holder), Hunt may be deemed to share voting/dispositive power over New Leaf’s RLYB shares; while the Board has determined independence under Nasdaq rules and Rule 10A-3, investors should monitor for any potential perceived conflicts given Audit Committee service .
- Increasing equity grant size for directors (annual option from 16,500 to 28,500 in 2025) raises potential dilution; however, aligns director incentives with shareholders and is Board-approved based on peer benchmarking via the Compensation Committee and its consultant .
-
Compensation Structure Notes
- 2024 director pay structured primarily as fixed cash retainer plus equity; Hunt’s reported mix was $51,500 in fees (inclusive of amounts elected into options) and $23,981 in option grant value; he elected to take his 2024 cash retainer in option form, increasing equity orientation .
- Director option grants vest on relatively short cycles (annual vest at ≤1 year; initial grants over 3 years) and accelerate on change-in-control, standard in small-cap biotech governance .
-
Additional Context
- Board leadership includes a Lead Independent Director (since Dec 2023) to balance a non-independent Chair, supporting independent oversight and executive session leadership .
- Committee meeting cadence (Audit 4x; Nominating 1x in 2024) suggests standard oversight frequency for a clinical-stage biotech; no adverse auditor independence or related-party concerns were flagged by the Audit Committee .
Bottom line: Hunt brings deep venture and operating expertise with meaningful ownership alignment. His affiliation with a major shareholder necessitates ongoing monitoring, but the Board’s independence determinations, lack of related-party transactions, and committee structures mitigate immediate governance risk .
