Katie Ellias
About Katie Ellias
Independent Class II director at SAB Biotherapeutics since November 2023; age 46. Healthcare investor and operator with 20+ years’ experience across biotech and medical devices; former Managing Director at the JDRF T1D Fund, with prior roles at Endeavour Vision, Sofinnova Partners, Medtronic, and McKinsey. Education: MBA (Healthcare Management) from Wharton and BA (International Relations/Political Science) from Yale .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| JDRF T1D Fund (venture philanthropy) | Managing Director | 2018–Nov 2024 | Led investments in T1D-oriented therapies; drove portfolio company board engagement |
| Endeavour Vision | Investment professional | Not disclosed | Growth-stage medtech investing |
| Sofinnova Partners | Principal | Not disclosed | Early-stage life sciences investing |
| Medtronic | Commercial/Business Development | Not disclosed | Operational and BD roles in devices |
| McKinsey & Company | Consultant | Not disclosed | Strategy/operations in healthcare |
External Roles
| Organization | Role | Public/Private | Tenure |
|---|---|---|---|
| DiogenX | Director | Not disclosed | Not disclosed |
| Veralox Therapeutics | Director | Not disclosed | Not disclosed |
| i2O Therapeutics | Director | Not disclosed | Not disclosed |
| Capillary Biomedical | Director | Not disclosed | Not disclosed |
| French-American Chamber of Commerce | Board Member | Non-profit | Current |
Board Governance
- Independence: Board determined Ellias is independent under Nasdaq rules; 9 of 11 directors are independent .
- Classification/Term: Class II director; term expires after the 2026 annual meeting .
- Committees: Member, Compensation Committee (committee composed entirely of independent directors; chaired by Christine Hamilton) .
- Attendance/Engagement: Board met 7 times in 2024; each director attended at least 75% of Board and assigned committee meetings. Independent directors held 7 executive sessions in 2024 .
- Committee Practices: Compensation Committee may retain independent compensation consultants and assesses incentive risk; maintains clawback policy for executive officers .
Fixed Compensation
| Component | Structure | Amounts/Details |
|---|---|---|
| Annual Board Retainer (Cash) | Paid to independent directors | $30,000 per year (policy) |
| Committee Chair Retainers (Cash) | Audit $8,000; Comp $7,000; Nominating $6,000 | Policy amounts |
| Committee Member Retainers (Cash) | Audit $6,000; Comp $5,000; Nominating $4,000 | Policy amounts |
| Ellias 2024 Cash Fees | Actual fees earned | $5,833 (reflects partial-year/post-appointment accruals) |
Performance Compensation
| Equity Award Type | Grant Size | Vesting | 2024 Grant Value |
|---|---|---|---|
| Initial Option (new director) | 35,000 options | 3-year vest; equal annual tranches | Included within total; fair value recognized in 2024 |
| Annual Option (recurring) | 20,000 options | 2-year vest; equal annual tranches | Included within total; fair value recognized in 2024 |
| Ellias 2024 Option Award | — | Time-based vesting; no performance metrics | $174,619 (grant-date fair value, Black-Scholes) |
- Notes:
- Director equity is entirely time-based; no disclosed performance metrics or PSUs for directors .
- Grants are approved post-AGM per policy; not timed around material non-public information .
Other Directorships & Interlocks
- JDRF T1D Fund investment in SAB: A Form 4 on Nov 28, 2023 reported 285,714 SAB shares beneficially owned by JDRF T1D Fund, LLC; Ellias (as a JDRF employee) disclaimed beneficial ownership of these securities .
- Governance handling: Related party transactions require Audit Committee pre-approval under the Company’s policy .
Expertise & Qualifications
- Domain: Biotech/medtech investing and operations; extensive T1D therapeutic landscape knowledge .
- Skills: Board governance, portfolio construction, BD/partnerships, strategic finance .
- Education: Wharton MBA (Healthcare), Yale BA .
Equity Ownership
| Holder | Date | Shares Beneficially Owned | % of Common | Notes |
|---|---|---|---|---|
| Katie Ellias | Mar 21, 2025 | — | <1% | No direct beneficial ownership reported |
| Katie Ellias | Aug 1, 2025 | — | <1% | No direct beneficial ownership reported |
| JDRF T1D Fund (context) | Nov 28, 2023 (Form 4) | 285,714 | — | Ellias disclaims beneficial ownership; fund is a prior SAB investor |
Insider Trades (Context)
| Date | Filer | Security | Reported Amount | Note |
|---|---|---|---|---|
| Nov 28, 2023 | JDRF T1D Fund, LLC | SAB Common | 285,714 shares | Reported on Form 4; Ellias (JDRF employee) disclaims beneficial ownership |
Governance Assessment
-
Strengths:
- Independence affirmed; Compensation Committee membership supports oversight of pay practices; committee retains independent advisers and operates under robust charters .
- Attendance threshold met; independent directors held regular executive sessions—signals active oversight .
- Director pay structure skews to equity options with multi-year vesting—aligns long-term value creation .
-
Considerations / Potential Red Flags:
- Prior affiliation with JDRF T1D Fund, a SAB investor, may create perceived related-party exposure; mitigated by disclosure, independence determination, and Audit Committee related-party policy requiring pre-approval .
- Low direct personal share ownership may limit “skin-in-the-game” alignment (though option grants provide exposure) .
- Broader dilution risk from substantial requested increases to the omnibus plan share reserve (Special Meeting proposals)—not director-specific but relevant to equity compensation governance .
-
Overall: Independent, engaged director with deep sector expertise and governance experience; disclosed fund affiliation is managed through policy and independence determinations. Equity-heavy, time-based compensation supports alignment but lacks performance metrics typical of executive pay programs .