Gil Labrucherie
About Gil Labrucherie
Gil M. Labrucherie, CFA, J.D., is Septerna’s Chief Financial Officer (CFO) and principal financial and accounting officer, appointed effective January 6, 2025; age 53, with 25+ years of senior leadership experience in biotech and technology, and credentials including a J.D. from UC Berkeley School of Law, B.A. from UC Davis, CFA charterholder, and California Bar membership . He previously served as CFO and Chief Business Officer at ACELYRIN and as CFO/COO and SVP/General Counsel at Nektar Therapeutics; he has raised over $1.5 billion in private and public equity and helped generate over $1 billion in realized partnering value across his career . Septerna reported full-year 2024 net loss of $71.8M with R&D expenses of $65.3M and G&A of $16.6M; cash and marketable securities were $420.8M as of December 31, 2024, supporting operations into early 2028 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| ACELYRIN, Inc. | Chief Financial Officer; Chief Business Officer | CFO: Jul 2022–Nov 2022; Sep 2023–Jan 2025; CBO: May 2024–Jan 2025 | Led finance, accounting, IR, corporate comms, and BD; senior leadership at late-stage biopharma |
| Nektar Therapeutics | Chief Financial Officer; Chief Operating Officer; SVP, General Counsel & Secretary | CFO: Jun 2016–Jun 2022; COO: Nov 2019–Jun 2022; SVP GC: 2007–2016 | Led finance, public reporting, strategic planning, legal/IP, government affairs, IT, supply chain |
| Wilson Sonsini Goodrich & Rosati | Associate, Corporate Practice | Early career | Corporate law foundation supporting capital markets/M&A activities |
| Various high-growth tech/biotech companies | Executive leadership roles | Various | Led global corporate alliances and M&A; cumulative capital raised >$1.5B; partnering value >$1B |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Rezolute, Inc. (Nasdaq: RZLT) | Director | Nov 2019–present | Late-stage biopharma board oversight |
| Valinor Pharma LLC | Director | May 2023–Jul 2024 (acquired by Grünenthal) | Oversight through acquisition |
| Bloom Trust | Sole trustee | Current | Family office trustee for commercial real estate assets |
Fixed Compensation
| Component | Terms | Amount/Rate | Notes |
|---|---|---|---|
| Base Salary | Annual | $485,000 | Subject to periodic review/adjustment |
| Target Bonus | Annual target % of base | 40% | Discretionary; paid by Mar 15 following year; if start by Jan 6, 2025, not prorated for 2025 |
| Benefits | 401(k) match policy (company-wide) | 100% of first 4% of eligible comp, capped at $5,000 annually (effective 2025) | General employee plan terms apply |
| Expense Reimbursement | Business expenses; professional license maintenance fees | Per policy | Documentation required |
Performance Compensation
| Incentive | Metric | Weighting | Target | Actual | Payout Mechanics | Vesting |
|---|---|---|---|---|---|---|
| Annual Cash Bonus (2025 cycle) | Corporate objectives (program, platform, finance/BD) (company framework) | Not disclosed | 40% of base salary | Not disclosed | Discretionary; paid by Mar 15 following year; employment at payment required | N/A |
| Stock Option Grant (New Hire) | Time-based vesting (no performance metric) | N/A | 222,000 options | N/A | Exercise price = closing price on grant date (Nasdaq) | 25% on first anniversary of Start Date (Jan 6, 2026); remaining 75% monthly over 36 months; continuous service required |
Equity Ownership & Alignment
- New-hire stock option: 222,000 shares under the 2024 Stock Option and Incentive Plan; grant effective February 7, 2025; exercise price set to closing market price on grant date; standard time-based vesting (25% at first anniversary, then monthly for 36 months) .
- Insider trading policy: prohibits short sales and derivative transactions and any hedging transactions; company maintains 10b5-1 plan policy allowing pre-arranged trading when not in possession of MNPI .
- Clawback: compensation recovery policy adopted per SEC/Nasdaq rules for incentive-based comp tied to financial reporting, with 3-year lookback upon restatement .
- Pledging/margin: policy highlights risk of pledging or margin accounts but expressly prohibits hedging and certain derivatives; pledging prohibition is not explicitly stated; compliance monitored via insider trading policy .
Employment Terms
| Term | Outside Change-in-Control (CIC) | Within CIC Period | Notes |
|---|---|---|---|
| Employment | At-will | At-will | Restrictive covenants: confidentiality, IP assignment, non-solicitation; cooperation obligations |
| Severance Cash | 9 months base salary (higher of current or prior year base) | Lump sum: 12 months base salary + 1.0x target bonus (higher of at termination or pre-CIC target) | Tier 2 executive under Executive Severance Plan |
| Health (COBRA) | Company-paid portion up to 9 months (earlier of 9 months, eligibility elsewhere, or COBRA period end) | Company-paid portion up to 12 months (earlier of 12 months, eligibility elsewhere, or COBRA period end) | |
| Equity Acceleration | None (beyond plan provisions) | Full acceleration of outstanding unvested time-based equity; performance-based per award agreement | Double-trigger (qualifying termination within CIC period) |
| 280G/4999 | Cutback if reduction yields higher net after-tax benefit (no gross-up) | Same | |
| Indemnification | Standard D&O indemnification agreement | Standard D&O indemnification agreement |
Investment Implications
- Pay mix is equity-heavy via time-based stock options (no PSU metrics disclosed), aligning upside with long-term TSR but reducing near-term performance linkage; monitor for future introduction of PSUs or explicit KPI weightings to strengthen pay-for-performance .
- First major vesting date on Jan 6, 2026 (25% cliff) followed by monthly vesting may create potential selling cadence if a 10b5-1 plan is adopted; hedging is prohibited, which supports alignment, but pledging is not explicitly banned—maintain oversight for any pledging disclosures .
- Severance and CIC terms are moderate (Tier 2: 12 months base + 1x bonus; time-based equity acceleration, no tax gross-up), limiting golden parachute risk while offering retention during strategic events; double-trigger equity acceleration mitigates windfall risk .
- Governance infrastructure (compensation committee with independent members, external consultant Pearl Meyer, clawback policy, insider trading and 10b5-1 frameworks) supports shareholder alignment; as an emerging growth company, Septerna is not yet subject to say-on-pay, reducing direct shareholder feedback mechanisms—engagement disclosures should be monitored post-IPO .
Note: Beneficial ownership specifics (shares owned, % of outstanding, pledged shares) and Form 4 trading activity for Mr. Labrucherie were not disclosed in the reviewed materials; monitor future proxy and Section 16 filings for updates .