Milos Miljkovic
About Milos Miljkovic
Chief Medical Officer at Cartesian Therapeutics (RNAC) since November 2023; age 41; board-certified in hematology, medical oncology, and internal medicine. Prior experience includes Assistant Research Physician, Chief Fellow, and Clinical Fellow at the National Cancer Institute (NCI), specializing in early-stage immuno-oncology trials; currently a Special Volunteer at NCI’s Lymphoid Malignancies Branch and Instructor at UMBC’s bioengineering graduate program . Company performance context in 2024 included RMAT designation for Descartes-08 in myasthenia gravis, positive Phase 2b MG data, initiation of SLE and multiple myeloma trials, and $130M PIPE financing; TSR/revenue/EBITDA metrics were not disclosed in the proxy .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| National Cancer Institute (NCI) | Clinical Fellow, Hematology/Oncology | 2014–2017 | Specialized in early-stage immuno-oncology trials |
| National Cancer Institute (NCI) | Chief Fellow, Hematology/Oncology | 2016–2017 | Specialized in early-stage immuno-oncology trials |
| National Cancer Institute (NCI) | Assistant Research Physician | 2017–2021 | Specialized in early-stage immuno-oncology trials |
| Cartesian Therapeutics (“Old Cartesian”) | Chief Medical Officer | 2021–Nov 2023 | Not disclosed |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| NCI – Lymphoid Malignancies Branch | Special Volunteer | Current | Ongoing scientific/clinical engagement |
| University of Maryland Baltimore County (UMBC) | Instructor | Current | Co-leads an introductory clinical trials course for the bioengineering graduate program |
Fixed Compensation
- Miljkovic’s base salary, target bonus %, and actual bonus were not individually disclosed (he was not a Named Executive Officer in 2024). The company states executive officers have employment agreements with base salary and target bonus opportunities set and reviewed annually .
- For context, 2024 base salaries and payouts were disclosed for Named Executive Officers only (CEO, CFO, CTO, CSO) and are not representative of Miljkovic’s compensation .
Performance Compensation
Company-wide bonus plan applied to executive officers in 2024, with equally weighted corporate performance measures and a 130% achievement factor; Miljkovic’s individual payout was not disclosed .
| Metric | Weighting | Target Description | Actual Achievement | Corporate Payout Factor |
|---|---|---|---|---|
| Pipeline Development | Equal | Advance Descartes-08 in MG and SLE; progress Descartes-15 | 130% achievement | 130% |
| Corporate Strategy & BD | Equal | Manufacturing strategy, successful merger integration, investor reputation | 130% achievement | 130% |
| Finance | Equal | Operate within budget | 130% achievement | 130% |
Standard vesting mechanics for long-term incentives (company-wide, including executive officers):
- Options: 25% vesting at first anniversary; remaining 75% vest in equal annual installments thereafter (4-year total) .
- RSUs: Four equal annual installments over four years (25% per year) .
Equity Ownership & Alignment
- 10b5-1 plan adoption and potential selling cadence: On May 15, 2025, Miljkovic adopted a Rule 10b5-1 trading plan providing for exercise of vested options and potential sale of up to 30,528 shares, plus up to an additional 2,689 shares, through March 31, 2026; the plan terminates upon sale completion or March 31, 2026 .
- Hedging/pledging: Company prohibits hedging and pledging of RNAC securities by employees and executive officers; no executive pledges were approved in 2024 .
- Beneficial ownership: Not individually disclosed for Miljkovic (security ownership table covers directors and Named Executive Officers) .
| Item | Details |
|---|---|
| 10b5-1 plan adoption date | May 15, 2025 |
| Plan scope | Exercise of vested options and potential sale of up to 30,528 shares; additional sale of up to 2,689 shares |
| Plan end date | Earlier of all shares sold or March 31, 2026 |
| Hedging/Pledging policy | Hedging and pledging are prohibited for employees/executives; no executive pledges approved in 2024 |
| Stock ownership guidelines | Not disclosed in proxy |
Employment Terms
- Executive employment agreements: Company states it has employment agreements with each executive officer, providing at-will employment with base salary and target bonus opportunities .
- Severance and change-in-control (as disclosed for Named Executive Officers): If terminated without cause or resigns for good reason, 12 months’ base salary continuation, pro‑rated annual bonus (based on actual performance; target if termination occurs in Q1), and up to 12 months COBRA; 30 days’ notice or pay in lieu . Double‑trigger acceleration of time‑based equity within 60 days before/12 months after a change in control .
- Restrictive covenants: Non‑competition and non‑solicitation for 12 months post‑termination; garden leave pay framework disclosed for CEO under Massachusetts non‑compete law .
- Clawback: Executive clawback policy compliant with SEC rules effective October 2, 2023 .
- Insider trading: Window periods and 10b5‑1 plan governance; pre‑clearance required for certain insiders .
Investment Implications
- Selling pressure watch: The 10b5‑1 plan authorizing up to ~33K shares through March 2026 suggests predictable potential sales; monitor Form 4s for cadence and remaining capacity .
- Alignment safeguards: Prohibitions on hedging/pledging and the clawback policy improve alignment and downside governance protections, reducing red‑flag risk .
- Retention/CoC economics: For NEOs, 12 months salary+bonus and double‑trigger equity acceleration provide competitive but not excessive protection; Miljkovic’s specific severance terms are not individually disclosed, so retention risk cannot be precisely quantified .
- Performance-linked culture: Corporate bonuses keyed to pipeline, strategy/manufacturing, and budget discipline (130% factor) create pay-for-performance conditions across the exec team; lack of individual disclosure for Miljkovic limits payout visibility .
- Governance signals: Strong say‑on‑pay support in 2025 (FOR 19,701,123; AGAINST 157,132; ABSTAIN 1,726) reduces compensation‑related controversy risk; peer group is typical for clinical-stage biotech, mitigating pay inflation optics .