Karen Akinsanya
About Karen Akinsanya
Karen Akinsanya, Ph.D., age 57, is President of R&D, Therapeutics at Schrödinger (SDGR), a role she has held since February 2022 after serving as EVP, Chief Biomedical Scientist and Head of Discovery R&D (2020–2022) and SVP & Chief Biomedical Scientist (2018–2019) . She holds a B.Sc. in Biochemistry (Queen Mary College, University of London), a Ph.D. in Endocrine Physiology (Imperial College), and completed postdoctoral studies at the Ludwig Institute for Cancer Research, University College London . Company performance under her leadership includes 2024 total revenue of $207.5M, software revenue of $180.4M (+13% YoY), expanded top-10 customer ACV, multiple clinical program progressions (SGR‑1505, SGR‑2921 with FDA Orphan Drug Designation, SGR‑3515 initiation), and strategic collaborations (Novartis $150M upfront) . SDGR’s pay program received strong shareholder support with ~98% say‑on‑pay approval in 2024, reflecting pay‑for‑performance alignment .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Schrödinger | President of R&D, Therapeutics | Feb 2022–present | Leads therapeutics R&D; advanced Phase 1 programs (SGR‑1505, SGR‑2921, SGR‑3515) and expanded collaborations; contributes to pipeline and operating goals used in corporate incentive metrics . |
| Schrödinger | EVP, Chief Biomedical Scientist; Head of Discovery R&D | Jan 2020–Feb 2022 | Led discovery R&D; broadened performance‑based awards to executives beginning in 2023, expanding in 2024 . |
| Schrödinger | SVP & Chief Biomedical Scientist | Apr 2018–Dec 2019 | Built biomedical capabilities post‑hire in 2018 . |
| Merck & Co., Inc. | Assoc. VP, Early Scientific Assessment Lead, BD&L | Dec 2013–Jul 2017 | Led early assessment and BD&L in Merck Research Labs, shaping portfolio intake . |
| Merck & Co., Inc. | Collaboration Lead & Executive Director, Cardiovascular Research | Jan 2010–Dec 2013 | Directed cardiovascular collaboration and research initiatives . |
| Merck & Co., Inc. | Associate Director, Clinical Pharmacology | Oct 2005–Dec 2009 | Advanced clinical pharmacology programs . |
| Ferring Pharmaceuticals | Drug discovery roles (UK and US) | 1997–2005 | Discovery roles across geographies . |
| Envision Science Group LLC | Founder & President | Founded 2007; consulting 2017–2018 | Founded translational science consultancy; currently President; provided industry consulting in 2017–2018 . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Nautilus Biotechnology, Inc. | Director | Current | Public company board service . |
| Envision Science Group LLC | President | 2007–present | Founder; translational science consulting . |
Fixed Compensation
Multi‑Year Summary Compensation (SEC‑reported)
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary ($) | $515,375 | $541,000 | $562,640 |
| Option Awards ($) | $1,070,644 | $882,663 | $1,805,307 |
| Non‑Equity Incentive ($) | $249,600 | $243,450 | $355,870 |
| All Other Compensation ($) | $12,701 | $13,287 | $12,901 |
| Total ($) | $1,848,320 | $1,680,400 | $2,736,718 |
Current Program Levels
| Year | Base Salary ($) | Target Bonus (% of Salary) | Notes |
|---|---|---|---|
| 2024 | $562,640 | 55% | Payout at 115% of target based on corporate goal achievement . |
| 2025 | $600,000 | 60% (increase of 5%) | Approved Jan/Mar 2025 . |
Performance Compensation
2024 Annual Cash Incentive – Corporate Performance Goals and Payout
| Metric | Weight (Target) | Weight (Stretch) | Actual Achievement (%) | Weighted Performance (%) |
|---|---|---|---|---|
| Achieve software revenue growth target | 50.0% | 8.0% | 100.0% | 50.0% |
| Achieve drug discovery revenue target | 3.0% | N/A | Below target | — |
| Reduce annual increase in operating expenses | 5.0% | 5.0% | 100.0% / 100.0% | 10.0% |
| Subtotal – Financial & Operational | 58% | 13% | — | 60% |
| Generate data to support SGR‑1505/2921 development | 24.0% | N/A | 112.5% | 27.0% |
| Initiate Phase 1 for SGR‑3515 | 9.0% | N/A | 100.0% | 9.0% |
| Early discovery development goals | 4.0% | 2.0% | 100.0% / — | 4.0% |
| External business initiatives and goals | 5.0% | 10.0% | 100.0% / 100.0% | 15.0% |
| Subtotal – Drug Discovery & Development | 42% | 12% | — | 55% |
| Total Corporate Achievement | 100% | 25% | — | 115% of target payout |
PRSU Design and Vesting
| Grant Year | Award Size (Target #) | Metrics | Measurement Period | Payout Range | Vesting (post‑certification) |
|---|---|---|---|---|---|
| 2024 | 20,000 PRSUs | Software performance; Therapeutics group performance; Operating performance | Through 12/31/2025 | 50%–150% | Following filing of 2026 10‑K (in 2027) |
| 2025 | 15,625 PRSUs | Software; Therapeutics; Operating | Through 12/31/2026 | 50%–150% | Following filing of 2027 10‑K |
Equity Ownership & Alignment
Beneficial Ownership (as of April 1, 2025)
| Holder | Shares Beneficially Owned (Common) | Ownership % | Composition |
|---|---|---|---|
| Karen Akinsanya | 455,988 | * (<1%) | All from options exercisable as of or within 60 days after April 1, 2025 . |
| Note | — | — | Company prohibits hedging/shorts; pledging generally prohibited; no pledges by named executives other than Dr. Friesner (not Karen) . |
Outstanding Equity Awards (Karen Akinsanya) – December 31, 2024
| Award Type | Exercisable (#) | Unexercisable (#) | Exercise Price ($) | Expiration | PRSUs/RSUs Unvested (#) |
|---|---|---|---|---|---|
| Stock Option (2010 series & earlier) | 3,345 | — | 2.92 | 10/10/2027 | — |
| Stock Option | 13,378 | — | 3.22 | 8/3/2028 | — |
| Stock Option | 43,198 | — | 4.34 | 11/29/2028 | — |
| Stock Option | 180,478 | — | 17.00 | 2/5/2030 | — |
| Stock Option (granted 2021) | 76,666 | 3,334 | 102.48 | 2/27/2031 | — |
| Stock Option (granted 2022) | 56,666 | 23,334 | 27.76 | 2/9/2032 | — |
| Stock Option (granted 2023) | 28,998 | 34,272 | 23.29 | 2/9/2033 | — |
| Stock Option (granted 2024) | — | 120,000 | 25.24 | 3/4/2034 | — |
| PRSUs (granted 2024) | — | — | — | — | 10,000 unearned |
2024 and 2025 Annual Equity Awards (Grant‑date details)
| Year | Options Granted (#) | Exercise Price ($) | Vesting | PRSUs Granted (#) | RSUs Granted (#) |
|---|---|---|---|---|---|
| 2024 | 120,000 | $25.24 (Mar 4, 2024) | 25% on 3/4/2025; monthly thereafter through 3/4/2028 | 20,000 (target) | — |
| 2025 | 62,500 | $21.24 (Mar 3, 2025) | 25% at 1‑yr; monthly thereafter | 15,625 (target) | 15,625 |
Stock ownership guidelines are maintained for executives; compliance status and required multiples were not disclosed .
Employment Terms
| Provision | Summary | Specifics for Karen |
|---|---|---|
| Employment agreement | At‑will; 30‑day notice; salary adjustable at company discretion | Agreement dated May 14, 2018; current base salary $600,000 . |
| Severance (no change‑in‑control) | Base salary continuation + COBRA | 9 months base ($421,980) + up to 12 months COBRA ($31,471) . |
| Change‑in‑control (double trigger) | Lump sum salary + target bonus + COBRA; time‑based equity vests | 100% of base ($562,640) + 100% of target bonus ($309,452) + up to 12 months COBRA ($31,471); time‑based awards accelerate; PRSUs (performance‑based) not specified for acceleration . |
| Equity acceleration in CIC | Time‑based equity vests fully on termination; performance‑based not specified | Market value of vesting for Karen at 12/31/2024 shown as “—” (no time‑based awards to accelerate at that date) . |
| Clawback | Recovery of erroneously awarded incentive comp; broader recovery for misconduct/fraud | Nasdaq Rule 5608-compliant policy effective Oct 2, 2023; recovery of stock‑price/TSR‑based comp via reasonable estimate; applies to executives serving during performance period . |
| Hedging/pledging | Prohibited (shorts; derivatives; hedging; margin/pledge); rare exceptions require approval | No pledges by named executives other than Dr. Friesner; hedging prohibited . |
| Tax gross‑ups | Not provided for change‑in‑control | Explicitly indicated as “don’t do” . |
| Non‑compete/other covenants | Payments contingent on compliance with proprietary info, non‑compete, non‑solicit | Severance conditioned on compliance with these agreements . |
Investment Implications
- Pay‑for‑performance alignment is strengthening: 2024 cash incentive paid at 115% on robust software growth, cost discipline, and R&D milestones; PRSUs expanded to all executives in 2024 and continued in 2025, with payout ranges tied to software, therapeutics and operating metrics .
- Potential 2027 equity event concentration: 2024 PRSUs measure through 12/31/2025 and vest post‑2026 10‑K; 2025 PRSUs measure through 12/31/2026 and vest post‑2027 10‑K—creating possible synchronized vesting and associated selling pressure around 2027 if performance triggers are met .
- Ownership alignment is modest (<1% beneficial ownership, largely via options), but hedging/pledging prohibitions and clawback policy mitigate misalignment and risk; no perquisites or tax gross‑ups further align with shareholder preferences .
- Retention risk mitigants include severance protection and CIC double‑trigger economics (100% salary + 100% target bonus + COBRA), with time‑based equity acceleration under CIC; absence of PRSU acceleration increases performance dependency, maintaining discipline .
- Governance signals are positive: ~98% say‑on‑pay approval in 2024, active shareholder engagement, and disciplined use of premium‑priced options (CEO) and PRSUs (all execs) point to a thoughtful incentive design likely viewed favorably by investors .