Alexandra Kropotova
About Alexandra Kropotova
Executive Vice President & Chief Medical Officer at SAB Biotherapeutics since June 2022; age 52. Prior roles include senior clinical leadership at Teva, Sanofi, and Pfizer; education: MD (Internal Medicine, Vladivostok State Medical University) and MBA (Ohio University). At SAB, she leads clinical strategy and execution across the portfolio, with current focus on SAB-142 (human anti-thymocyte IgG) as the company pivots to Type 1 diabetes; no TSR/revenue/EBITDA performance metrics for her role are disclosed in the proxy materials .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Teva Pharmaceuticals | Therapeutic Area Head, Global Specialty R&D | 2016–2022 | Led innovative drug development across immunology, respiratory, immuno-oncology, from pre-IND to BLA/NDA, including complex biologic/device combinations . |
| Sanofi | VP/AVP, Immuno-Inflammation, Global R&D Clinical Development; VP Strategy & Strategic Planning, North American Medical Affairs | Not disclosed | Directed immuno-inflammation development and regional medical affairs strategy . |
| Pfizer | Director & Head, Global Clinical Respiratory and Analgesics | Not disclosed | Led global clinical development in respiratory and analgesics . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| iBio | Director | Not disclosed | Board service at plant-based biologics developer . |
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base salary ($) | $525,000 | $540,100 |
| Non‑equity incentive plan compensation ($) | $236,250 | $236,250 |
| All other compensation ($) | $13,200 | $13,800 |
| Stock awards – grant date fair value ($) | $147,125 | — |
| Option awards – grant date fair value ($) | — | $554,050 |
| Total compensation ($) | $921,575 | $1,344,200 |
Performance Compensation
- The company discloses time‑based RSUs and options; specific annual bonus performance metrics (weights/targets) are not detailed in the proxy materials .
Equity grants and vesting:
| Award type | Grant date | Shares | Exercise price | Vesting schedule |
|---|---|---|---|---|
| RSU | Jun 6, 2022 | 300,000 | — | 25% at 1‑year; remainder in 36 equal monthly installments thereafter . |
| RSU | Mar 14, 2023 | 27,500 | — | 25% at 1‑year; remainder in 36 equal monthly installments thereafter . |
| Stock option | Feb 20, 2024 | 140,000 | $5.17 | 25% at 1‑year; remainder in 36 equal monthly installments thereafter . |
| Stock option | Sep 12, 2022 | 1,832 (1,031 exercisable; 801 unexercisable at 12/31/24) | $7.11 | 25% at 1‑year; remainder in 36 equal monthly installments thereafter . |
Outstanding awards (12/31/2024 snapshot):
| Instrument | Exercisable (#) | Unexercisable (#) | Price | Expiration | Unvested RSUs (#) | Est. MV of unvested RSUs ($) |
|---|---|---|---|---|---|---|
| Options (Sep 12, 2022) | 1,031 | 801 | $7.11 | 9/12/2032 | — | — . |
| Options (Feb 20, 2024) | — | 140,000 | $5.17 | 2/20/2034 | — | — . |
| RSUs (various) | — | — | — | — | 11,250 | $42,685 . |
| RSUs (various) | — | — | — | — | 15,466 | $58,681 . |
Equity Ownership & Alignment
| Ownership metric | Mar 21, 2025 | Aug 1, 2025 |
|---|---|---|
| Common shares beneficially owned | 69,757 | 88,107 |
| Options exercisable within 60 days (included above) | 42,054 | 56,790 |
| RSUs vesting within 60 days (included above) | 5,991 | 7,189 |
| Percent of common stock outstanding | <1% (“*%”) | <1% (“*%”) |
- Insider Trading Policy prohibits hedging transactions by directors/officers/employees; pledging is not expressly addressed in the policy excerpt reviewed .
- Company references “robust stock ownership guidelines” for executives but does not quantify multiples or compliance status in the proxy .
Employment Terms
| Term | Detail |
|---|---|
| Role/start date | EVP & CMO; Executive Employment Agreement dated May 20, 2022 . |
| Base salary (agreement) | $525,000 (agreement baseline) . |
| Severance (termination without cause or non‑renewal) | Cash severance equal to one year base salary; accrued but unpaid annual bonus for prior fiscal year; 100% acceleration of unvested equity awards; COBRA reimbursement for six months for employee/spouse/dependents . |
| Change‑in‑control table (illustrative) | Potential cash severance (as of 12/31/2024): $540,750 (shows salary component only in the table) . |
| Restrictive covenants | Standard nondisclosure, invention assignment, arbitration provisions . |
Compensation Structure Analysis
- Mix shift in 2024 from RSUs (2023) to stock options (2024), increasing long‑term, at‑risk equity exposure; cash bonus flat YoY ($236,250) while salary rose modestly (+2.9%) .
| Component ($) | 2023 | 2024 |
|---|---|---|
| Salary | 525,000 | 540,100 |
| Cash bonus (non‑equity plan) | 236,250 | 236,250 |
| RSU FV | 147,125 | — |
| Option FV | — | 554,050 |
| Total | 921,575 | 1,344,200 |
Risk Indicators & Red Flags
- Clawback policy: Board can recoup erroneously awarded performance-based pay from executive officers for intentional misconduct .
- Hedging prohibited under Insider Trading Policy; trading windows/insider rules apply .
- One late Form 4 filing for Dr. Kropotova in 2024 noted in Section 16(a) compliance disclosure .
- Potential equity overhang/dilution: Company authorized significant increases to equity plan in Aug 2025; Series B conversion could materially increase shares outstanding and create market overhang (company acknowledges potential price pressure) .
Investment Implications
- Pay-for-performance alignment strengthened by 2024 option-heavy equity mix and existing clawback/insider controls; however, specific annual bonus metrics are undisclosed, limiting transparency on incentive targets .
- Vesting cadence: substantial RSUs granted in 2022/2023 vest monthly through 2026/2027, and 2024 options begin vesting in 2025—expect ongoing Form 4 activity and potential periodic selling pressure around vest dates .
- Ownership: sub‑1% beneficial ownership with meaningful unvested equity—alignment exists but is primarily via time‑vested equity rather than large outright holdings .
- Severance terms include full acceleration of unvested equity on termination without cause, which reduces retention risk cost for the executive but raises potential change/transition costs for shareholders .