Jennifer Jarrett
About Jennifer Jarrett
Independent director of Sagimet Biosciences (SGMT) since August 2024; age 54. She is Chief Operating Officer of Arcus Biosciences (since Oct 2020) and previously served on Arcus’s board (2019–Jan 2024). Earlier roles include VP Corporate Development & Capital Markets at Uber (2019–2020), CFO of Medivation (2016), and 20 years in biotech investment banking (Citigroup Managing Director; Credit Suisse; DLJ). Education: B.A. Economics, Dartmouth (cum laude); M.B.A., Stanford GSB .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Arcus Biosciences (RCUS) | COO; previously CFO/COO; Director (2019–Jan 2024) | 2017–present (COO since Oct 2020; Director thru Jan 2024) | Led finance, corp dev, commercial/medical affairs |
| Uber Technologies (UBER) | VP, Corporate Development & Capital Markets | Jan 2019–Sep 2020 | Led IPO/private placement activities |
| Medivation (acq. by Pfizer) | Chief Financial Officer | Apr–Oct 2016 | Transitioned through acquisition |
| Citigroup | Managing Director, Head of West Coast Life Sciences IB | 2010–2016 | Covered biotech/pharma; life sciences franchise lead |
| Credit Suisse; DLJ | Investment banking (Director/MD; Associate) | 1998–2010 | U.S. biotech banking leadership |
| Consonance-HFW Acquisition Corp. (SRZN) | Director; Audit Committee Chair | 2020–2021 | Designated audit committee financial expert |
External Roles
| Company | Exchange/Ticker | Role | Tenure | Committees/Notes |
|---|---|---|---|---|
| Syndax Pharmaceuticals | Nasdaq: SNDX | Director | Since Sep 2018 | Current director; committee roles not specified in 2025 proxy excerpt |
| Zura Bio | Nasdaq: ZURA | Director | Since Mar 2023 | Audit Committee; Compensation Committee member |
| Cajal Neuroscience | Private | Director | Current | Listed in SGMT proxy biography |
| LifeMine Therapeutics | Private | Director | Current | Listed in SGMT proxy biography |
| Arcus Biosciences | NYSE: RCUS | Director (prior) | 2019–Jan 2024 | Former director; now serving as COO |
Board Governance (Sagimet/SGMT)
- Board class/term: Appointed as Class III director effective Aug 1, 2024; term expiring at 2025 Annual Meeting .
- Committee assignments: Audit Committee member (not chair) ; SGMT 2025 proxy also lists Audit under her committee memberships .
- Independence: SGMT states each Board committee consists entirely of independent directors; as an Audit Committee member, she is treated as independent under Nasdaq standards .
- Executive sessions and governance practices: Regular executive sessions of independent directors; Code of Conduct; clawback policy; Rule 10b5‑1 plan framework .
- Attendance: No director-specific attendance disclosures for SGMT identified in the 2025 proxy excerpts retrieved.
Fixed Compensation (SGMT Non‑Employee Director Policy)
| Component | Amount/Terms |
|---|---|
| Annual Board retainer (non‑employee) | $40,000, paid quarterly in arrears; prorated for partial service |
| Chair premium (Non‑Executive Chair) | +$30,000 |
| Audit Committee member | +$7,500 |
| Audit Committee Chair | +$15,000 |
| Compensation Committee member | +$5,000 |
| Compensation Committee Chair | +$10,000 |
| Nominating & Corporate Governance member | +$4,500 |
| Nominating & Corporate Governance Chair | +$10,000 |
| Form of payment | Directors may elect to receive retainer in fully vested shares in lieu of cash, granted on the same quarterly schedule |
Notes: Policy effective in connection with SGMT’s IPO; amounts prorated; committee retainers stack with Board retainer .
Performance Compensation (Equity)
| Equity Element | Grant Value | Instrument | Vesting | Terms |
|---|---|---|---|---|
| Initial award upon appointment | $300,000 | Stock options | Monthly over 3 years | 10‑year term; exercise price = FMV on grant date |
- Annual director equity was not specified in the policy excerpt retrieved; SGMT’s filings include forms of RSU award agreements for non‑employee directors under the 2023 Plan, indicating RSU usage in program design, but explicit annual grant values/terms were not detailed in the policy snippet provided .
Other Directorships & Interlocks
| Relationship | Details |
|---|---|
| Cross‑Board Service | Concurrent public boards: SGMT, SNDX, ZURA; plus private boards (Cajal, LifeMine) . |
| Committee overlap | Serves on audit and compensation committees at ZURA; audit at SGMT . |
| Interlocks/Related parties | SGMT appointment 8‑K and proxy excerpts reviewed do not disclose any related‑party transactions involving Ms. Jarrett at SGMT . |
Expertise & Qualifications
- Audit/financial expertise: Prior service as Audit Committee Chair and audit committee financial expert designation at a SPAC (Consonance‑HFW Acquisition Corp./Surrozen) .
- Transactional/finance depth: 20 years in biotech investment banking; CFO experience (Medivation); capital markets leadership at Uber .
- Life sciences operating leadership: COO of Arcus with remit across finance, corp dev, IR/communications, and commercial/medical affairs .
- Degrees: B.A. Economics (Dartmouth, cum laude); M.B.A. (Stanford GSB) .
Equity Ownership (SGMT)
| As of | Form | Title | Beneficial Ownership Reported | Notes |
|---|---|---|---|---|
| Aug 5, 2024 | Form 3 | Initial Statement of Beneficial Ownership | “No securities are beneficially owned.” | Filed upon joining SGMT Board; no non‑derivative or derivative holdings reported on the Form 3 . |
Policy context: Directors may receive initial stock option grants under SGMT’s director policy (see Performance Compensation above), which would be reported on subsequent Forms 4 once granted; this Form 3 reflected holdings as of appointment .
Governance Assessment
- Board effectiveness and financial oversight: Audit Committee placement aligns with her audit chair experience and deep finance background—positive for financial reporting oversight and capital markets strategy at a clinical‑stage issuer .
- Independence and controls: SGMT indicates all committees are fully independent; company maintains clawback and Rule 10b5‑1 frameworks—supportive of governance hygiene and investor confidence .
- Ownership alignment: At appointment, Form 3 showed no SGMT holdings; however, SGMT’s policy includes an initial at‑risk stock option and allows fees to be taken in equity, which can increase alignment over time .
- Workload consideration: Concurrent service on two other public company boards (SNDX, ZURA) plus two private boards may raise time‑commitment considerations; no SGMT attendance shortfalls identified in retrieved filings .
- Conflicts/related‑party exposure: No SGMT‑disclosed related‑party transactions involving Ms. Jarrett found in appointment 8‑K or proxy excerpts; continued monitoring advisable given concurrent operating role at Arcus and multiple biotech directorships .
RED FLAGS to monitor
- Multiple concurrent directorships (public and private) could pressure bandwidth during pivotal clinical/regulatory windows; track SGMT attendance and committee meeting participation once disclosed .
- Confirm equity grant timing/size post‑appointment (initial option, any annual RSUs) to assess realized alignment, hedging/pledging prohibitions, and ownership guideline compliance if SGMT publishes them in future proxies .
Sources
- SGMT 2025 DEF 14A (biography, committee membership, governance practices)
- SGMT 8‑K appointing Jarrett (Class III; Audit Committee)
- SGMT S‑1 Director Compensation Policy (cash/committee retainers; initial option; equity‑in‑lieu)
- SGMT S‑1/A exhibits (forms for director equity awards under 2023 Plan)
- SGMT Form 3 (initial beneficial ownership)
- ZURA 2025/2024 filings (board and committee roles)
- RCUS proxy (current operating role and cross‑board listings)
- SRZN filings (prior audit chair; financial expert)