Xiaolin Wang
About Xiaolin Wang
Xiaolin Wang, Sc.D., is Executive Vice President, Development at Revolution Medicines (RVMD), age 55 as of March 31, 2025, serving as EVP since March 2021 and previously SVP, Clinical Development from March 2018 to March 2021 . She holds a B.S. in Probability and Statistics (Peking University), an M.S. in Statistics (University of Washington, Seattle), and a Sc.D. in Biostatistics (Harvard University) . Company performance context: RVMD achieved 130% of target Company performance goals for 2024 bonuses and credited Wang with contributions to outperforming development objectives ; Pay-versus-performance disclosure shows Company TSR (value of $100) of $151.35 in 2024 and net loss of $600 million, with $2.3 billion in cash, cash equivalents and marketable securities at year-end 2024 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Revolution Medicines | Executive Vice President, Development | March 2021–present | Leads company-wide development function (role title) |
| Revolution Medicines | Senior Vice President, Clinical Development | March 2018–March 2021 | Leadership of clinical development (role title) |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Acerta Pharma (AstraZeneca Group) | Leadership/management positions | Not disclosed | Leadership positions (details not disclosed) |
| Geron Corporation | Leadership/management positions | Not disclosed | Leadership positions (details not disclosed) |
| Genentech, Inc. | Leadership/management positions | Not disclosed | Leadership positions (details not disclosed) |
Fixed Compensation
Base Salary (rate vs. paid)
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary Paid ($) | $400,000 | $415,737 | $455,500 |
| Base Salary Rate (as of Mar 1, 2024) ($) | — | $418,000 | $463,000 |
Annual Cash Incentive (target and earned)
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Target Bonus % of Base (policy) | — | — | 40% |
| Target Bonus ($) (based on rate) | — | — | $185,200 |
| Target Used for 2024 Earned ($) (pro-rated) | — | — | $182,249 |
| Earned Bonus ($) | $197,100 | $211,000 | $238,700 |
Other Compensation
- 401(k) company match: $7,000 in 2024 .
- No perquisites or personal benefits provided to NEOs .
Performance Compensation
2024 Annual Bonus Achievement
| Component | Weighting | Target | Actual Achievement | Payout Basis |
|---|---|---|---|---|
| Corporate performance | 90% | 100% | 130% | $182,249 target → $238,700 paid |
| Individual performance (Wang) | 10% | 100% | 140% | Included in payout above |
Equity Grants (Annual Awards)
| Year | Options Granted (#) | RSUs Granted (#) | Option Exercise Price ($/share) | Grant-Date Fair Value – Options ($) | Grant-Date Fair Value – RSUs ($) |
|---|---|---|---|---|---|
| 2023 | 101,500 | 29,000 | $26.50 | $1,828,685 | $768,500 |
| 2024 | 84,700 | 24,200 | $29.80 | $1,631,830 | $721,160 |
- Mix: 70% stock options, 30% RSUs (by grant-date fair value) for 2024 .
- Vesting: Options vest monthly over 4 years; RSUs vest quarterly over 4 years; 2024 options 1/48 monthly from March 1, 2024; 2024 RSUs 1/16 quarterly from March 15, 2024 .
2024 Option Exercises and RSUs Vested
| Metric | 2024 |
|---|---|
| Options exercised (# / value) | None / — |
| RSUs vested (# / value) | 19,587 / $791,402 |
Equity Ownership & Alignment
Beneficial Ownership (as of March 31, 2025)
| Item | Amount |
|---|---|
| Direct shares owned | 48,389 |
| Options exercisable within 60 days | 465,930 |
| Total beneficial shares | 514,319 |
| Shares outstanding | 186,258,206 |
| Beneficial ownership (%) | 0.28% (514,319 ÷ 186,258,206) |
- Anti-hedging and anti-pledging: Company policy prohibits hedging and pledging company stock; covered individuals cannot purchase on margin or pledge securities as collateral .
Outstanding Equity Awards (Dec 31, 2024)
| Vesting Commencement Date | Options Exercisable (#) | Options Unexercisable (#) | Exercise Price ($) | Expiration Date | RSUs Unvested (#) | RSUs Market Value ($) |
|---|---|---|---|---|---|---|
| 3/26/2018 | 92,476 | — | $1.12 | 4/19/2028 | — | — |
| 3/13/2019 | 20,550 | — | $4.09 | 3/12/2029 | — | — |
| 8/9/2019 | 149,532 | — | $4.73 | 8/8/2029 | — | — |
| 12/18/2019 | 205 | — | $7.50 | 12/17/2029 | — | — |
| 2/12/2020 | 26,098 | — | $17.00 | 2/11/2030 | — | — |
| 3/4/2021 | 36,750 | 2,450 | $42.45 | 3/3/2031 | — | — |
| 3/15/2021 | — | — | — | — | 700 | $30,618 |
| 3/1/2022 | 48,125 | 21,875 | $18.56 | 3/1/2032 | — | — |
| 3/15/2022 | — | — | — | — | 6,250 | $273,375 |
| 3/1/2023 | 44,406 | 57,094 | $26.50 | 3/1/2033 | — | — |
| 3/15/2023 | — | — | — | — | 16,313 | $713,531 |
| 3/1/2024 | 15,881 | 68,819 | $29.80 | 3/1/2034 | — | — |
| 3/15/2024 | — | — | — | — | 19,663 | $860,060 |
- Unexercisable options in aggregate: 2,450 + 21,875 + 57,094 + 68,819 = 150,238 (sum of rows) .
- Unvested RSUs in aggregate: 700 + 6,250 + 16,313 + 19,663 = 42,926 (sum of rows) .
Employment Terms
Severance and Change-in-Control (CIC) Policy
- Outside CIC window: CEO = 1.0× salary+target bonus; Other NEOs (incl. Wang) = 0.75× salary+target bonus; COBRA premiums for 9 months (other NEOs) .
- During CIC window (3 months before to 18 months after): CEO = 2.0×; Other NEOs = 1.0× salary+target bonus; COBRA premiums for 12 months (other NEOs); full acceleration of all equity awards; double-trigger; no excise tax gross-ups .
Estimated Payments (assuming Dec 31, 2024 trigger)
| Scenario | Cash Severance ($) | COBRA ($) | Equity Acceleration ($) | Total ($) |
|---|---|---|---|---|
| Qualifying termination – outside CIC period | $483,937 | $25,708 | — | $509,645 |
| Qualifying termination – during CIC period | $645,249 | $34,278 | $4,375,194 | $5,054,721 |
Governance and Policies
- Clawback Policy adopted Nov 2023; applies to current/former officers; recovery of erroneously awarded compensation upon required accounting restatements, regardless of misconduct .
- Equity award timing: grants generally on first day of month following Compensation Committee meetings or full month after hire; not timed around MNPI; no grants within four business days prior to or one business day following filings that disclose MNPI in FY2024 .
- Anti-hedging/anti-pledging: prohibitions on hedging, derivative transactions, margin purchases, and pledging company securities .
- No perquisites; standard health and welfare and 401(k) match programs .
Investment Implications
- Alignment and leverage: Compensation heavily equity-linked; 2024 awards used a 70% options / 30% RSU mix, promoting upside leverage with long-dated monthly vesting and a retention element via four-year schedules .
- Retention vs. supply overhang: Wang had ~150,238 unexercisable options and 42,926 unvested RSUs at 12/31/2024, indicating multi-year retention incentives; monthly option vesting and quarterly RSU vesting create predictable potential supply, though she did not exercise options in 2024 and only RSUs vested (19,587 shares; $791,402 value) .
- Severance/CIC economics: Double-trigger CIC with 1.0× salary+target bonus and full equity acceleration could incentivize transaction neutrality while avoiding single-trigger risks; no tax gross-ups is shareholder-friendly .
- Ownership and alignment: Beneficial ownership of ~0.28% (including options exercisable within 60 days) and strict anti-hedging/pledging policy mitigate misalignment risks; no director roles disclosed for Wang that would create interlocks .
- Pay trend: 2024 cash components increased (base salary rate to $463,000; earned bonus $238,700), while grant-date fair values of options/RSUs declined vs. 2023, consistent with Committee’s market-based adjustments during pivotal trial planning and pipeline expansion .