Josiah Craver
Senior Vice President of Finance (Principal Financial and Accounting Officer) at Sensei Biotherapeutics
Executive
About Josiah Craver
Josiah Craver, age 42, serves as Senior Vice President of Finance since July 2024 and Principal Financial and Accounting Officer since September 2024 at Sensei Biotherapeutics (SNSE). He previously held finance leadership roles at KALA BIO and Solid Biosciences, began his career at PricewaterhouseCoopers in health industries audit, holds an M.S. in Accountancy from Stonehill College, and is a CPA . Company operating metrics under his finance tenure show reduced operating expenses and improved net loss year over year: Q3 2025 operating expenses fell to $4.9M from $7.8M YoY and net loss improved to $4.6M from $7.3M; for 9M 2025, total operating expenses fell to $17.3M from $24.3M and net loss improved to $16.4M from $22.4M, with no product revenue generated and cash, cash equivalents and marketable securities of $25.0M as of 9/30/2025 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| KALA BIO, Inc. | SVP of Finance & Corporate Controller | Nov 2020–Jul 2024 | Public-company finance leadership and controllership in biotech |
| Solid Biosciences, Inc. | VP of Finance & Corporate Controller | 2017–2020 | Finance leadership at a publicly traded biotech |
| PricewaterhouseCoopers LLP | Health industries audit practice | Not disclosed | Early-career audit serving life science/biotech companies |
External Roles
- No current public company directorships disclosed; Mr. Craver is not a director of SNSE .
Fixed Compensation
| Component | Value | Effective/Reference |
|---|---|---|
| Base Salary ($) | $360,000 | Employment Agreement effective Jul 22, 2024 |
| Target Bonus (%) | 35% of base salary | Employment Agreement |
Performance Compensation
- Annual bonus structure: target set at 35% of base salary, with payout determined by the Compensation Committee based on corporate and, where applicable, individual goals; the company’s corporate goals framework referenced for NEOs includes research & development, business development, and financial objectives (Craver-specific weighting/payouts not disclosed) .
- Equity incentives:
- Stock option grant: 80,000 shares; vesting 25% on the one-year anniversary of start date (Jul 22, 2025), then monthly over the subsequent 36 months; subject to continued service .
- Strike price and grant-date fair value for the 80,000-share option are not disclosed in the 8-K; Form 4 filings confirm equity activity in Dec 2024 and Feb 2025 (see Insider Transactions) .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership | Not disclosed for Craver in the 2025 proxy’s beneficial ownership table (lists NEOs and directors only) . |
| Options – Grant/Status | 80,000 option grant with 4-year vesting (25% at 1-year, remainder monthly) . |
| 10b5-1 Plans | No officer/director adopted, modified, or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during Q3 2025 . |
| Hedging/Pledging | Insider trading policy prohibits short sales, transactions in put or call options, hedging transactions, margin accounts, or other speculative transactions in company stock . |
| Clawback | Incentive Compensation Recoupment Policy adopted Oct 2023 (Rule 10D-1/Nasdaq 5608 compliant) for restatements; applies to current/former executive officers . |
Insider Transactions (Form 4)
| Filing Date | Document Date | Form | Filer | Note |
|---|---|---|---|---|
| Dec 23, 2024 | Dec 20, 2024 | Form 4 | Craver, Josiah | Statement of changes in beneficial ownership; filer CIK 0002038400 |
| Feb 14, 2025 | Feb 14, 2025 | Form 4 | Craver, Josiah | Statement of changes in beneficial ownership |
Employment Terms
| Term | Non–Change-in-Control | Change-in-Control (within 12 months post-CIC) |
|---|---|---|
| Trigger Conditions | Termination by Company without “cause” or by Craver for “good reason” | Same triggers within 12 months after CIC |
| Cash Severance | Lump sum equal to 6 months base salary | Lump sum equal to 12 months base salary + full target bonus for fiscal year of termination |
| COBRA | Reimbursement for continuation coverage for 6 months | Reimbursement for continuation coverage for 12 months |
| Equity | Not specified for non-CIC | Full acceleration of vesting and exercisability of all outstanding equity awards |
| Employment Status | At-will; Employment Agreement effective Jul 22, 2024 | — |
| PFO Appointment | Appointed Principal Financial & Accounting Officer on Sep 17, 2024 | — |
| Indemnification | Expected to execute standard form indemnification agreement |
Compensation Committee Analysis
- Committee composition (2024): Ringo, Ricks, Holmen (Chair), Peyer; all independent non-employee directors. Committee met three times in 2024 and can retain independent consultants; Alpine Rewards engaged to review executive pay positioning, mix, ownership levels, and equity retention .
Performance & Track Record Context
- Operating discipline: Material reductions in R&D and G&A drove improved operating losses both in Q3 and 9M 2025 versus prior year .
- Liquidity and strategic review: Cash and securities of $25.0M as of 9/30/2025; company discontinued development of solnerstotug, initiated strategic alternatives, and implemented a ~65% workforce reduction with estimated $1.6M severance/termination-related cash expenditures expected in Q4 2025 .
Investment Implications
- Alignment and retention: Compensation structure balances modest fixed pay ($360k base; 35% target bonus) with long-dated equity vesting, plus double-trigger acceleration upon CIC—supportive of retention through strategic review but creates potential equity acceleration overhang in transactions .
- Selling pressure: No adoption or modification of Rule 10b5-1 plans in Q3 2025 reduces pre-programmed insider selling signals; Form 4 filings in Dec 2024 and Feb 2025 indicate routine equity activity disclosure rather than sustained selling programs (transaction details not disclosed here) .
- Governance safeguards: Hedging, options, and margin account prohibitions plus a compliant clawback policy mitigate misalignment risks and provide recourse in financial reporting restatements .
- Execution risk: Strategic pivot, discontinued program, and workforce reduction elevate near-term execution and retention risk across the organization, placing a premium on finance leadership continuity (PFO role held by Craver since Sep 2024) .