Lorence Kim
About Lorence Kim
Lorence H. Kim, M.D., is an independent director of Revolution Medicines (RVMD), age 51, serving since July 2022. He co-founded and is managing partner of Ascenta Capital Management (since Jan 2023), was CFO of Moderna (2014–2020), a Venture Partner at Third Rock Ventures (2020–2022), and previously a Managing Director and co-head of biotechnology investment banking at Goldman Sachs (2000–2014). He holds an A.B. in Biochemical Sciences from Harvard, an M.D. from the University of Pennsylvania School of Medicine, and an MBA (Healthcare Management) from Wharton; he serves on the board of Cencora, Inc. (NYSE: COR) and the Board of Governors of the American Red Cross .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Moderna, Inc. | Chief Financial Officer | 2014–2020 | Led finance through clinical scale-up and IPO era |
| Third Rock Ventures | Venture Partner | 2020–2022 | Investor/operator support in biotech portfolio |
| Goldman Sachs & Co. | Managing Director; Co-head, Biotech Investment Banking | 2000–2014 | Led capital markets and M&A coverage for biotech |
External Roles
| Organization | Role | Status | Notes/Interlocks |
|---|---|---|---|
| Cencora, Inc. (NYSE: COR) | Director | Current | Also on COR’s board: RVMD director Frank K. Clyburn Jr. (interlock) |
| American Red Cross | Board of Governors | Current | Non-profit governance |
| Seres Therapeutics (Nasdaq: MCRB) | Director | Former | Prior public board role |
| Cowen Inc. | Director | Former | Prior public board (pre-acquisition by TD Bank Group) |
Board Governance
- Committee assignments: Chair, Audit Committee; Chair, Nominating & Corporate Governance Committee. Member independence meets SEC/Nasdaq standards; designated audit committee financial expert (with Patel) and financially sophisticated under Nasdaq rules .
- Independence and leadership: Board determined all directors other than CEO are independent; lead independent director is Alexis Borisy; independent directors meet regularly in executive session .
- Attendance and engagement: In 2024, Board met 8x; Audit 4x; Nominating & Corporate Governance 3x. Each Board member attended ≥75% of applicable meetings; all then-serving directors attended the 2024 annual meeting .
- Risk/oversight focus: Audit oversees financial reporting, risk, compliance and related-party review; Nominating oversees ESG, board evaluations, governance guidelines .
Fixed Compensation
| Component (2024 program) | Amount | Notes |
|---|---|---|
| Annual cash retainer | $45,000 | Non-employee directors |
| Audit Committee – Chair | $20,000 | Applies to Kim (chair) |
| Nominating & Corporate Governance – Chair | $10,000 | Applies to Kim (chair) |
| Other committee membership fees | $5,000–$7,500 | Not applicable beyond Kim’s chair roles |
| 2024 Director Compensation (Kim) | Amount ($) |
|---|---|
| Fees earned or paid in cash | 75,000 |
| Stock awards (RSUs) | 159,470 |
| Option awards | 371,555 |
| Total | 606,025 |
- Program amendments effective as of 2025 annual meeting: cash retainer increased to $50,000; Compensation Committee chair/member fees increased; equity awards changed to value-based grants (Initial: $834,000; Annual: $417,000), 70% options/30% RSUs .
Performance Compensation
| Equity Grant Structure | 2024 Details | 2025+ Details | Vesting Schedule |
|---|---|---|---|
| Annual Option | Intended 16,700 shares; capped outcome: 15,955 options (due to $550k grant value cap) | Value-based 70% of $417,000 in options | 100% vests on earlier of 1-year from grant or immediately prior to next annual meeting; subject to service |
| Annual RSUs | Intended 4,800 RSUs; capped outcome: 4,248 RSUs | Value-based 30% of $417,000 in RSUs | RSUs vest over one year aligned to specified quarterly dates (Mar 15, Jun 15, Sep 15, Dec 15) or immediately prior to next annual meeting; subject to service |
| Initial Director Grant | Option: 33,400; RSUs: 9,600 (prior framework) | Value-based $834,000 (70% options/30% RSUs) | Options vest monthly over 3 years; RSUs vest quarterly over 3 years; subject to service |
- No director performance metrics (e.g., TSR, revenue, ESG) are used to determine director equity or cash compensation; director equity awards are time-based vesting only .
Other Directorships & Interlocks
| Entity | Relationship | Governance Consideration |
|---|---|---|
| Cencora, Inc. (COR) | Kim and RVMD director Frank Clyburn both serve on COR’s board | Information flow and network benefits; monitor for any RVMD–Cencora transactions given interlock; none disclosed in RVMD related-party section |
Expertise & Qualifications
- Financial expertise: Audit Committee chair; designated “audit committee financial expert” (SEC definition) and Nasdaq financial sophistication .
- Capital markets and corporate finance: CFO experience at Moderna; former MD/co-head biotech investment banking at Goldman Sachs; venture/investor roles .
- Strategic biotech operator: Deep exposure to R&D-to-commercial scale-up and portfolio financing .
Equity Ownership
| Beneficial Ownership (as of Mar 31, 2025) | Shares | % of Outstanding |
|---|---|---|
| Outstanding shares owned | 63,950 | <1% |
| Options exercisable within 60 days | 53,155 | n/a |
| Total beneficial (SEC definition) | 117,105 | <1% |
| Year-end 2024 Outstanding Awards (Kim) | Quantity |
|---|---|
| Options outstanding | 71,155 |
| RSUs outstanding | 6,873 |
- Insider trading and alignment: Company policy prohibits hedging and pledging of RVMD equity and sets blackout rules; trades allowed only outside restricted periods or under Rule 10b5‑1 plans .
Insider Trades (Form 4)
| Date | Type | Shares/Notes | Source |
|---|---|---|---|
| Jun 26, 2025 | Stock award grant (RSUs) | 3,142 RSUs; includes 4,017 RSUs outstanding noted in filing | |
| Jun 24, 2024 | Annual grant (RSUs and options) | Form 4/A corrected RSU and option amounts for annual director grant | |
| Jun 8, 2023 | Annual grant | 5,200 shares acquired (grant) | |
| Jul 22, 2022 | Open market purchase | 50,000 shares at $20/share ($1,000,000) | |
| Jul 12, 2022 | Initial director grant | Includes 10,500 RSUs; option vests per plan |
Governance Assessment
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Strengths
- Dual committee chair (Audit; Nominating & Governance) with SEC-designated financial expertise; enhances oversight of financial reporting, risk, and governance framework .
- Independent director with strong capital markets and CFO experience; valuable for financing, audit oversight, and strategic review .
- Alignment signals: meaningful personal ownership and an open-market purchase in 2022; company policy prohibits hedging/pledging, supporting investor alignment .
- Board attendance met thresholds; active committee cadence (Audit 4x; Nominating 3x in 2024) .
-
Watch items / potential conflicts
- Board interlock at Cencora with fellow RVMD director Frank Clyburn; while no RVMD–Cencora transactions are disclosed, interlocks merit monitoring for future related-party exposure or perceived influence .
- Concentration of responsibility: Chairing two key committees increases workload and influence; ensure continued robust independent director executive sessions and board evaluations to balance governance .
- Related-party transactions: None disclosed involving Kim; RVMD’s Tango collaboration involved other directors and was approved by Audit Committee under related-person policy .
-
Compensation structure and investor signals
- Director pay mix combines cash retainer plus time-based equity; 2025 shift to value-based grants (70% options/30% RSUs) increases transparency of equity value and maintains at-risk alignment without performance metrics for directors .
- Company-wide say-on-pay for executives (not directors) passed with ~99% support in 2024, indicating broad investor confidence in compensation governance practices .
All citations: ; Forms: .