Sushil Patel
About Sushil Patel
Independent director at Revolution Medicines since June 2022; age 54 as of March 31, 2025. Patel is Chief Executive Officer of Replimune Group, Inc. (since April 2024) and holds a Ph.D. in Molecular Biology (University of London), M.S. in Biotechnology (Imperial College London), and B.S. in Microbiology (University of Warwick) . The Board has determined he is independent under Nasdaq rules; the Board chair/CEO roles are combined with a lead independent director structure .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Genentech, Inc. | VP, Franchise Head for Lung, Skin, Tumor Agnostic, Rare Cancers; earlier roles including global launch lead/lifecycle leader for Tecentriq in lung cancer | 2002–May 2021 (VP Apr 2018–May 2021) | Led multiple oncology launches; lifecycle leadership for Tecentriq |
| Front Line Strategic Management Consulting | Senior Consultant | 1999–2002 | Strategy consulting in pharma |
| IMS Health (Pharma Strategy Group) | Senior Research Executive | 1996–1999 | Market analytics/strategy |
| Central Public Health Laboratory | Clinical Research Scientist | 1993–1996 | Clinical research |
External Roles
| Organization | Role | Since | Notes |
|---|---|---|---|
| Replimune Group, Inc. | Chief Executive Officer | Apr 2024 | Previously Chief Strategy Officer (Jan 2023–Mar 2024), Chief Commercial Officer (May 2021–Jan 2023) |
Board Governance
- Board class/tenure: Class II director; nominated for reelection at the 2025 Annual Meeting; director since June 2022 .
- Independence: Board determined all directors other than the CEO are independent (includes Patel) .
- Committee assignments and roles:
- Audit Committee member; designated an “audit committee financial expert” under SEC rules .
- Commercialization Committee member .
- Attendance: The Board met 8x in 2024; Audit 4x; Commercialization 1x; each director attended ≥75% of applicable meetings .
- Leadership structure: Combined Chair/CEO (Goldsmith) with Lead Independent Director (Alexis Borisy) who presides over executive sessions .
Fixed Compensation
| Component | 2024 Program Terms | Patel 2024 Cash Earned |
|---|---|---|
| Annual cash retainer | $45,000 for non‑employee directors | $60,302 (fees earned/paid in cash) |
| Committee fees | Audit member $10,000; Commercialization member $7,500; chair premia per committee (not applicable to Patel) | Included in total above |
| 2025 changes (effective at 2025 Annual Meeting) | Annual director cash retainer increased to $50,000; Compensation Committee chair/member fees raised to $18,000/$9,000 (other committee rates unchanged) | n/a |
Performance Compensation
| Equity Element | 2024 Award Design | Patel 2024 Values | Vesting |
|---|---|---|---|
| Annual Option | Part of Annual Grant; due to $550k grant-date value cap, 2024 Annual Option sized at 15,955 shares company‑wide | $371,555 (grant-date fair value) | Earlier of first anniversary of grant or immediately prior to next annual meeting; monthly for options in executive plans, director plan as specified |
| Annual RSU | Part of Annual Grant; 2024 Annual RSU sized at 4,248 units company‑wide | $159,470 (grant-date fair value) | Earlier of first anniversary of first specified quarterly vesting date or immediately prior to next annual meeting; quarterly for RSUs |
| Initial Grants (upon joining Board) | 33,400 options + 9,600 RSUs at appointment; 3‑year vesting (monthly/quarterly) | Applies to directors at appointment (Patel joined June 2022) | Monthly (options) over 3 years; quarterly (RSUs) over 3 years |
| 2025 change (effective post‑meeting) | Value‑based awards: Annual Grant $417,000 (70% options/30% RSUs); Initial Grant $834,000 (70%/30%) | n/a | Per program |
Note: Director equity is time‑based; no performance metrics apply to director awards .
Other Directorships & Interlocks
- Other public company boards: None disclosed for Patel in RVMD’s proxy .
- Board‑level interlocks at RVMD: Collaboration with Tango Therapeutics in 2024–2025; two RVMD directors (Barbara Weber, Alexis Borisy) serve at Tango; the agreement and April 2025 project addendum were approved by RVMD’s Audit Committee under the related‑party policy . No related‑party transactions disclosed involving Patel .
Expertise & Qualifications
- Audit Committee Financial Expert (SEC definition) and financially sophisticated under Nasdaq rules .
- Deep oncology commercialization and lifecycle leadership experience (e.g., Tecentriq in lung cancer) .
- Advanced scientific training (Ph.D., Molecular Biology) and broad biopharma strategy background .
Equity Ownership
| As of Date | Shares Owned (Direct/Other) | Options Exercisable ≤60 Days | Total Beneficial Ownership | % Outstanding |
|---|---|---|---|---|
| Mar 31, 2025 | 13,950 | 44,867 | 58,817 | <1% |
| Dec 31, 2024 (positioning) | Options outstanding: 61,845 | RSUs outstanding: 6,873 | — | — |
Policy notes:
- RVMD prohibits hedging and pledging of company stock by directors and other covered persons; robust blackout windows and MNPI controls apply .
Insider Trades
| Filing | Date | Summary |
|---|---|---|
| Form 3 (Initial Statement of Beneficial Ownership) | Jun 17, 2022 | Reported as director; no securities beneficially owned at time of filing |
No Form 4 transactions for Patel were identified in RVMD’s document set search; RVMD states Section 16(a) reporting compliance for 2024 .
Governance Assessment
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Strengths
- Independent director with dual credentials: oncology operator and designated Audit Committee Financial Expert; serves on Audit and Commercialization Committees, supporting oversight of financial reporting and go‑to‑market planning .
- Attendance at or above 75% threshold in 2024 alongside active committee calendar; supports engagement .
- Alignment via meaningful option‑heavy director equity (70% options/30% RSUs) and anti‑hedging/pledging policy; 2025 program moves to value‑based grants while retaining option weighting, maintaining at‑risk exposure .
- Board independence structure with Lead Independent Director and regular executive sessions .
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Watch‑items / Potential conflicts
- Concurrent service as CEO of a public oncology company (Replimune) could pose perceived competitive or time‑commitment risks; no related‑party transactions disclosed with Replimune; RVMD’s related‑party policy assigns Audit Committee approval/oversight for any such matters .
- RVMD Board/management overlap with Tango Therapeutics collaboration is managed via Audit Committee approval per policy; continue monitoring for execution and disclosures .
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Attendance, independence, and shareholder signals
- All non‑employee directors independent; Say‑on‑Pay approval in 2024 was ~99%, indicating positive shareholder sentiment on compensation governance broadly (management program) .
Overall, Patel’s audit expertise and commercialization background enhance board effectiveness with low disclosed conflict risk; equity-heavy director pay and trading restrictions support alignment, while his external CEO role merits ongoing monitoring for potential conflicts and workload balance .