Srini Tenjarla
About Srini Tenjarla
Srini Tenjarla, Ph.D., age 63, serves as Senior Vice President of CMC & Formulation at Serina Therapeutics, Inc. (SER) since July 2024, bringing 30+ years of life sciences experience with prior leadership at Takeda Pharmaceuticals (VP, Head of Drug Product Development and Process Chemistry Development/Outsourcing) and Shire Pharmaceuticals (Vice President of Pharmaceutical Sciences), with a track record of advancing programs through clinical phases to NDA/BLA submission and approval . Company pay-versus-performance disclosures show a negative TSR measure for 2024 at (44) versus (30) for 2023, and net loss of $11,141 thousand in 2024 versus net income of $5,269 thousand in 2023, contextualizing the operating backdrop during his tenure .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Takeda Pharmaceuticals | Vice President and Head of Drug Product Development and Process Chemistry Development/Outsourcing (Pharmaceutical Sciences) | — | Provided technical and strategic leadership to global teams, overseeing phase-appropriate development from Phase 1 through product validation and PAI readiness . |
| Shire Pharmaceuticals | Vice President of Pharmaceutical Sciences (after multiple leadership roles) | — | Advanced programs through clinical phases to NDA/BLA submission and approval . |
External Roles
No public company external directorships or committee roles for Dr. Tenjarla are disclosed in the latest 10-K and DEF 14A .
Fixed Compensation
| Metric | FY 2024 |
|---|---|
| Base Salary (annual) | $375,000 (per employment agreement) |
| Salary Paid ($) | $171,875 |
| Target Bonus (% of salary) | 50% |
| Sign-on Bonus ($) | $25,000 |
Performance Compensation
Cash Incentives (FY 2024)
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Individual performance goals (Board-set, discretionary) | — | 50% of base salary | $64,453 | Cash | n/a |
Equity Incentives (2024 Grants)
| Grant Date | Type | Number of Shares/Options | Grant Date Fair Value ($) | Exercise/Strike | Expiration | Vesting Schedule |
|---|---|---|---|---|---|---|
| 7/15/2024 | Stock Options | 185,000 (unexercisable at 12/31/2024) | $1,519,960 | $9.50 | 7/14/2034 | One-third vests after 12 months from grant; remaining two-thirds in 24 equal monthly installments starting on first anniversary . |
Clawback: Company adopted a Clawback Policy aligned with NYSE American Section 811; compensation granted, earned or vested based wholly or partly on financial reporting measures within the preceding 3 fiscal years may be recouped upon certain restatements, to the extent it exceeds amounts based on restated results .
Equity Ownership & Alignment
| Metric | FY 2024 (as of 12/31/2024) | As of September 17, 2025 |
|---|---|---|
| Options – unexercised, unexercisable | 185,000 | — |
| Options exercisable within 60 days | — | 82,218 |
| Ownership % of outstanding | — | <1% (asterisk denoted) |
| Total options granted (cumulative) | 185,000 | 185,000 (grant unchanged; partial vesting ongoing) |
| Shares pledged/hedged | Not disclosed | Not disclosed |
Insider Trading Policy: Designated related persons (including officers) may trade only during designated windows with pre-clearance; trading while in possession of MNPI prohibited .
Employment Terms
- Employment start and role: Senior Vice President of CMC & Formulation as of July 2024; employed “at will” per executive compensation section .
- Base salary and bonus eligibility: Initial annual base salary $375,000; eligible for annual discretionary performance bonus with 50% target; Board may approve amounts exceeding target if goals are fully achieved .
- Severance provisions: If terminated without cause, six months of base salary plus a pro-rated bonus of at least one-half of full annual bonus; no severance if terminated for cause or voluntary resignation; “cause” includes failure to perform duties, violation of directives/policies, dishonesty/illegal conduct/misconduct, unauthorized disclosure of confidential information, and other defined triggers; no additional amounts upon change in control .
- Equity award vesting: One-third at the 12-month anniversary of the July 15, 2024 grant; remaining two-thirds monthly over the subsequent 24 months .
- Clawback policy: See above; aligns with NYSE American Section 811 .
Investment Implications
- Alignment and at-risk pay: 2024 package skews toward equity ($1.52M grant-date fair value in options) versus cash (salary $171,875, annual performance cash bonus $64,453, $25,000 sign-on), creating long-term alignment but limited immediate “skin-in-the-game” via common shares; beneficial ownership reflects 82,218 options exercisable within 60 days and <1% ownership .
- Vesting cadence and potential selling pressure: One-third vested in July 2025 with continuing monthly vesting through July 2027, introducing a steady stream of newly vesting options that can increase potential insider sale capacity during trading windows subject to pre-clearance .
- Retention risk posture: Severance (6 months base + pro-rated minimum half bonus) is moderate for an SVP function and excludes change-in-control enhancements, reducing entrenchment risk but offering limited retention economics in adverse scenarios .
- Governance and clawback: Adopted clawback and trading policy guardrails lower risk of misaligned pay outcomes and opportunistic trading; however, lack of disclosed quantitative performance metrics (revenue/EBITDA/TSR targets) for bonus decisions increases discretion risk .
- Capital structure overhang: Company financing (convertible note up to $20M at $5.18 conversion with accompanying $5.44 warrants) and a concentrated 38.2% holder (Juvenescence and affiliates) create potential dilution, trading overhang, and control dynamics that can influence equity compensation realizable value and insider incentives .
Context: Pay-versus-performance shows a negative TSR measure for 2024 at (44) and net loss of $11,141 thousand, underscoring an early-stage R&D investment phase where option-heavy structures predominate and payout calibration is more discretionary .