Paul Lammers
SLRXAbout Paul Lammers
Independent director (Class III) at Salarius Pharmaceuticals (SLRX) since July 2019; age 68; MD and MSc from Radboud University (Netherlands). Former lead independent director at SLRX. Background spans biotech CEO, CMO, and US product development leadership with deep oncology focus and significant capital raising ($125M at Triumvira; $160M at Mirna) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Triumvira Immunologics (private) | Chief Executive Officer | 2018–Feb 2024 | Raised >$125M; engineered T‑cell therapy focus . |
| Mirna Therapeutics (NASDAQ: MRNA, historical) | President & CEO | Through 2015 IPO | Led ~$160M financing across VC, grants, and IPO . |
| EMD Serono | Chief Medical Officer; Head of US Product Development | Prior role (dates not specified) | Led medical and product development functions . |
| Various pharma/biotech (early career) | Executive/senior management across clinical, medical, regulatory | Not specified | Broad development and regulatory leadership . |
External Roles
| Organization | Role | Status | Notes |
|---|---|---|---|
| Diakonos Oncology (private) | Director | Current | Private oncology biotech . |
| Immunomet Therapeutics (private) | Director | Through Q2 2025 | Private oncology biotech; service ended Q2‑2025 . |
Board Governance
- Board class and tenure: Class III director; term expires at 2027 annual meeting; on Board since July 2019 .
- Independence: Board determined Lammers is independent under SEC and Nasdaq rules .
- Committee assignments: Compensation Committee member and Chair; committee composed of Burleson, Hanish, Lammers (all independent) .
- Meeting attendance: In 2024, the Board held 5 meetings; each director attended at least 75% of Board and committee meetings while serving. Audit held 4 meetings; Compensation held 2; Nominating & Governance held 0. Independent directors meet in executive session regularly .
- Board structure: Classified (staggered) board; terms by class; structure may delay or prevent a change in control .
- Insider trading/hedging: Company policy prohibits hedging and short sales by directors/officers/employees .
Fixed Compensation (Director)
| Component | 2024 Detail | Source |
|---|---|---|
| Fees Earned or Paid in Cash (Lammers) | $51,750 | |
| Cash retainer policy change (effective Apr 1, 2024) | Board retainer $30,000 (prev. $40,000); Chair of Board +$20,000 (prev. $40,000); Audit Chair +$10,000 (prev. $20,000); Audit member +$3,500 (prev. $7,500); No additional retainers for Compensation or Nominating Chairs/members | |
| 2023 reference (pre-change) | Board retainer $40,000; Comp Chair $13,500; Comp member $5,000; N&G Chair $10,000; N&G member $4,000; Audit Chair $20,000; Audit member $7,500 |
Implications: Lammers receives no extra cash for serving as Compensation Chair (cost discipline; equity alignment emphasized post‑change) .
Performance Compensation (Director)
| Component | 2024 Detail | Source |
|---|---|---|
| Stock Options (grant-date fair value, Lammers) | $9,944 | |
| Outstanding equity at 12/31/2024 (Lammers) | Options: 194; Restricted shares: 12 | |
| Vesting/award terms (director-specific) | Not detailed in proxy for directors; equity used to align with long-term shareholder interests |
No performance metric framework (e.g., TSR/EBITDA goals) is disclosed for non‑employee director compensation; director equity is primarily service/tenure‑based and intended to align interests .
Other Directorships & Interlocks
| Company | Public/Private | Role | Potential Interlock/Conflict |
|---|---|---|---|
| Diakonos Oncology | Private | Director | No related‑party transactions disclosed with SLRX -. |
| Immunomet Therapeutics | Private | Director (through Q2‑2025) | No related‑party transactions disclosed with SLRX -. |
SLRX‑disclosed related‑party transaction during lookback involved DeuteRx and SLRX director William McVicar (consultant to DeuteRx), not Lammers -.
Expertise & Qualifications
- Medical and scientific leadership: MD/MSc; oncology development expertise; former CMO and Head of US Product Development at EMD Serono .
- Capital markets/financing: Led >$285M in cumulative financings across Triumvira and Mirna (including Mirna’s 2015 IPO) .
- Board leadership: Previously served as SLRX Lead Independent Director; current Chair of Compensation Committee .
Equity Ownership
| Holder | Common Shares Owned | Options Exercisable ≤60 Days | Total Beneficial Ownership | % of Outstanding |
|---|---|---|---|---|
| Paul Lammers | 14 | 194 | 208 | <1% (based on 1,051,782 shares outstanding as of 10/24/2025) |
| Sources |
Additional reference (year-end 2024 equity awards for non‑employee directors): 194 options; 12 restricted shares (counts reflect reverse split adjustments per proxy) .
Governance Assessment
-
Strengths
- Independence and relevant domain expertise (oncology development, capital raising) bolster Compensation Committee oversight during strategic transition periods .
- Compensation Committee fully independent; has authority to select independent advisors and must assess advisor independence per Section 10C; clawback policy in place (executive incentive comp) .
- Anti‑hedging and short‑sale prohibitions support alignment; no pledging disclosure noted; no Lammers‑related party transactions disclosed -.
-
Watch items / potential risks
- Classified (staggered) board can impede rapid governance change, which some investors view as entrenchment risk .
- Director‑level performance metrics are not used; equity is tenure‑based. While common for small‑cap biotech, investors may prefer tighter performance linkage for equity grants, even at board level .
- 2024 reduction in cash director fees reflects cash conservation; while prudent, it may affect attraction/retention if sustained over time versus peers .
-
Engagement/attendance
- All directors, including Lammers, achieved at least the 75% attendance threshold in 2024; Compensation Committee met twice; independent directors hold regular executive sessions, supporting oversight quality .
Appendix – Director Compensation Detail (2024)
| Name | Fees Earned or Paid in Cash | Stock Options (Grant-Date FV) | Total |
|---|---|---|---|
| Paul Lammers | $51,750 | $9,944 | $61,694 |
| Source |
RED FLAGS (none specifically tied to Lammers)
- No hedging/short‑selling allowed; no disclosed pledging by Lammers; no Lammers‑related related‑party transactions; attendance threshold met - .
- Board classified structure remains a governance risk consideration for some investors .