Jack Anders
About Jack Anders
Jack Anders, age 48, is Chief Financial Officer of Revolution Medicines (RVMD) and has served as CFO since September 2022 after joining the company in 2018 and rising through finance leadership roles; he holds a B.A. in Economics with an emphasis in Accounting from UCLA and is a former certified public accountant with prior experience at PwC’s life sciences practice . Company performance context during his tenure includes a 2024 net loss of $600 million and cumulative TSR of $151.35 for a hypothetical $100 investment since RVMD’s 2020 listing; 2024 achievements featured an $863 million public equity financing and overachievement against corporate goals (130% of target) . RVMD maintains strict insider trading, hedging, and pledging prohibitions, with trading limited to open windows or under Rule 10b5-1 plans .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Revolution Medicines | SVP Finance; VP Finance | SVP: Mar 2021–Sep 2022; VP: Aug 2018–Mar 2021 | Built and led finance function pre-IPO scale-up; transitioned to CFO |
| Depomed, Inc. | Vice President of Finance | 2006–Jul 2018 | Led finance through specialty pharma operations; progressed through increasing responsibility |
| Elan Pharmaceuticals | Finance/Accounting managerial roles | Not disclosed | Big-cap biotech finance exposure; foundational operating finance experience |
| Yahoo! | Finance/Accounting managerial roles | Not disclosed | Public tech company finance operating experience |
| Novellus Systems | Finance/Accounting managerial roles | Not disclosed | Public industrial/semiconductor equipment finance experience |
| PricewaterhouseCoopers LLP | Life sciences practice | Early career | Audit/assurance training; sector specialization |
External Roles
- No public company board or committee roles disclosed for Anders .
Fixed Compensation
| Component | 2024 Value | Notes |
|---|---|---|
| Base Salary | $480,000 | Effective Mar 1, 2024 per annual review |
| Target Bonus % | 40% of base | 90% corporate goals / 10% individual goals weighting |
| Target Bonus ($) | $192,000 | Annualized target; actual target prorated due to March effective date |
| Actual Bonus Paid | $245,300 | Based on 130% corporate achievement and 125% individual achievement |
Performance Compensation
2024 Annual Cash Incentive
| Metric | Weighting | Target | Actual Achievement | Payout | Vesting/Timing |
|---|---|---|---|---|---|
| Corporate Objectives (R&D, Corporate/Finance, People) | 90% | 100% of plan | 130% of target (overall company) | Included in total bonus | Paid after FY assessment (Jan–Feb 2025) |
| Individual Objectives (CFO) | 10% | 100% of plan | 125% (Anders) | Included in total bonus | Paid after FY assessment (Jan–Feb 2025) |
| Total Cash Incentive | — | $189,377 prorated target | — | $245,300 | Cash payment following Compensation Committee approval |
Key corporate achievements relevant to CFO remit included completing an $863 million public equity financing and operating within the Board-approved budget while exceeding hiring/retention goals .
2024 Long-Term Equity Awards
| Award Type | Weighting | Grant Size | Strike/Price | Vesting |
|---|---|---|---|---|
| Stock Options | 70% of LT value | 92,400 options | $29.80 per share | 1/48 monthly from Mar 1, 2024 (4-year schedule) |
| RSUs | 30% of LT value | 26,400 RSUs | N/A (full-value) | 1/16 quarterly from Mar 15, 2024 (4-year schedule) |
Design features: Options and RSUs vest over four years; awards motivate long-term value creation and retention; equity award timing policies avoid grants around MNPI and follow consistent monthly grant schedule post-committee meetings .
Multi-Year Compensation (Summary Table)
| Metric (USD) | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary | $371,000 | $438,384 | $473,333 |
| Stock Awards (RSUs) | $431,396 | $704,900 | $786,720 |
| Option Awards | $971,265 | $1,677,345 | $1,780,178 |
| Non-Equity Incentive (Bonus) | $166,800 | $219,900 | $245,300 |
| All Other Compensation | $7,000 | $7,000 | $7,000 |
| Total Compensation | $1,947,461 | $3,047,529 | $3,292,532 |
Equity Ownership & Alignment
| Ownership Detail | Amount | Notes |
|---|---|---|
| Shares owned outright | 54,856 | Direct beneficial ownership |
| Options exercisable within 60 days | 187,146 | Near-term exercisable options |
| Total beneficial ownership | 242,002 | Less than 1% of shares outstanding (*) |
| Shares pledged as collateral | 0 (prohibited) | Anti-pledging and anti-hedging policy |
| 2024 option exercises | 20,000 shares; $849,639 value realized | Indicates some liquidity taken during 2024 |
| 2024 RSUs vested | 18,850 shares; $763,167 value realized | Ongoing quarterly vesting supply |
Stock ownership guidelines for executives are not disclosed; director program and overall governance policies prohibit hedging/pledging and outline blackout windows and permissible 10b5-1 trading plans -.
Employment Terms
| Provision | Outside Change-in-Control (CIC) | During CIC (Double Trigger) |
|---|---|---|
| Cash Severance Multiple | 0.75x salary + target bonus | 1.0x salary + target bonus |
| COBRA Premiums | 9 months | 12 months |
| Equity Acceleration | None | Full acceleration of all equity awards |
| Triggers | Termination without Cause or resignation for Good Reason | Termination without Cause or resignation for Good Reason within 3 months before to 18 months after CIC |
| Tax Gross-Ups | None (no excise tax gross-ups) | None (no excise tax gross-ups) |
| Clawback Policy | Restatement-linked recovery for officers | Restatement-linked recovery for officers |
Potential Payments (Illustrative at 12/31/2024)
| Scenario | Cash Severance | COBRA | Equity Acceleration | Total |
|---|---|---|---|---|
| Qualifying Termination (outside CIC) | $502,033 | $787 | — | $502,820 |
| Qualifying Termination (during CIC period) | $669,377 | $1,049 | $4,572,712 | $5,243,138 |
Performance & Track Record
- 2024 corporate performance assessed at 130% of target on R&D and corporate objectives; Anders’ individual performance assessed at 125%, reflecting contributions to financial outperformance and capital raising activities (including an $863 million equity financing) .
- Pay-versus-performance context shows company net loss of $600 million in 2024 and cumulative TSR of $151.35 since listing; compensation practices emphasize “at-risk” pay, with 88% of non-PEO NEO compensation at risk, and received ~99% Say-on-Pay approval in 2024, signaling investor support .
Compensation Structure and Peer Group Context
- Pay mix: Options and RSUs vest over four years with a 70%/30% value allocation, reinforcing long-term alignment; annual cash incentives keyed predominantly to corporate objectives, including clinical/regulatory progress and financing .
- Governance features: No single-trigger CIC, no excise tax gross-ups, robust insider trading policy prohibiting hedging/pledging .
- Peer benchmarking: Compensia advises the Compensation Committee; 2024 peer group includes Apellis, Arrowhead, Blueprint Medicines, Cerevel, CRISPR, Cytokinetics, Intellia, Intra-Cellular, Karuna, Madrigal; peer group refreshed to reflect market cap positioning and stage -.
Risk Indicators & Red Flags
- Positive governance: Double-trigger CIC, no tax gross-ups, strong anti-hedging/pledging policy, clawback policy adopted Nov 2023 .
- Potential selling pressure: Ongoing quarterly RSU vesting and prior option exercises (20,000 shares, $849,639 value realized in 2024) could contribute to periodic supply; subject to blackout windows or 10b5-1 plans per policy .
- Related party transactions: None involving Anders disclosed; company-level R&D collaboration approvals handled via Audit Committee .
Investment Implications
- Alignment: Compensation leans heavily to “at-risk” cash and multi-year equity with strict governance (no pledging/hedging), indicating solid alignment; significant unvested equity and double-trigger CIC protections support retention through pivotal R&D and potential commercialization ramp .
- Trading signals: Watch for 10b5-1 plan filings and Section 16 activity around vest dates; RSU quarterly vesting cadence (starting Mar 15, 2024) and substantial options exercisable within 60 days (187,146 shares) may create intermittent selling pressure, though subject to blackout/policy constraints .
- Execution risk: Company remains in net loss; Anders’ role in capital markets execution (e.g., $863 million financing in 2024) is critical to funding pivotal trials and commercialization capabilities; compensation structure rewards hitting clinical/operational milestones rather than financial metrics, aligning with lifecycle stage but requiring continued capital discipline .