Stephanie Krebs
About Stephanie Krebs
Stephanie Krebs, age 47, is Chief Business Officer of Sensei Biotherapeutics (SNSE) since November 1, 2023; she holds a BS in Microbiology & Immunology (University of Rochester), an MS in Biotechnology (Johns Hopkins University), and an MBA (Simon Graduate School, University of Rochester) . 2024 fixed compensation included $385,000 base salary and a target bonus of 40% of base; her actual 2024 bonus was paid at 91.3% of target reflecting 82.5% achievement of corporate goals in R&D, business development, and financial objectives . Her 2024 total compensation was $584,386, comprised of salary, option grant fair value, bonus, and other compensation . She is employed at-will under an agreement effective November 1, 2023, with defined severance and change‑in‑control protections and restrictive covenants .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| SNIPR Biome APS | Chief Business Officer | Mar 2022 – Oct 2023 | Business development leadership |
| Valo Health, Inc. | VP & Head of Business Development | Jun 2021 – Feb 2022 | Business development leadership |
| bluebird bio, Inc. | Head, Severe Genetic Disease BD | Sep 2019 – May 2021 | Therapeutic area BD leadership |
| HotSpot Therapeutics, Inc. | Vice President, Business Development | Aug 2018 – Aug 2019 | Business development leadership |
| Swedish Orphan Biovitrum (Sobi) AB | Vice President, Corporate Development | Oct 2016 – Jul 2018 | Corporate development leadership |
| Biogen Inc. | Various roles of increasing responsibility | Jul 2006 – Oct 2016 | Progressive commercial/BD responsibilities |
External Roles
No public company directorships or external board roles disclosed for Ms. Krebs .
Fixed Compensation
| Component | 2024 | Notes |
|---|---|---|
| Base Salary ($) | 385,000 | Annual base for 2024 |
| Target Bonus % of Base | 40% | Set in employment agreement; eligible beginning with performance in 2024 |
| Target Bonus ($) | 154,000 | 40% of $385,000 |
| Actual Bonus Payout (% of Target) | 91.3% | Based on 82.5% achievement of corporate goals plus individual factors |
| Actual Bonus Paid ($) | 140,525 | Reflected in Non-Equity Incentive Plan Compensation |
| Sign‑on Bonus ($) | 25,000 | One-time; paid with 2023 bonus cycle |
| All Other Compensation ($) | 18,259 | Includes life insurance, cell phone, 401(k) match ($13,800) |
Performance Compensation
Equity Awards and Vesting Detail
| Grant Date | Instrument | Shares/Units | Strike/Grant Price | Expiration | Vesting Terms |
|---|---|---|---|---|---|
| Dec 1, 2024 | Stock Option | 120,000 (unexercisable) | $0.45 | Dec 20, 2034 | 100% vests on the earlier of Dec 1, 2025 or termination not for cause |
| Nov 1, 2023 | Stock Option | 33,854 exercisable; 91,146 unexercisable | $0.82 | Nov 1, 2033 | Footnote indicates 25% vests on Feb 15, 2025 and then monthly to Feb 15, 2028, subject to service |
| 2024 Options – Grant Date Fair Value ($) | — | — | — | — | 40,602 (aggregate fair value under ASC 718) |
Annual Bonus Metrics (2024)
| Metric Category | Weighting | Target Definition | Actual Corporate Achievement | Individual/Committee Outcome | Payout Form |
|---|---|---|---|---|---|
| Research & Development | Not disclosed | Board-set goals | 82.5% (corporate goals) | Ms. Krebs awarded 91.3% of target | Cash |
| Business Development | Not disclosed | Board-set goals | 82.5% (corporate goals) | Ms. Krebs awarded 91.3% of target | Cash |
| Financial Objectives | Not disclosed | Board-set goals | 82.5% (corporate goals) | Ms. Krebs awarded 91.3% of target | Cash |
Notes:
- Equity awards are granted under the 2021 Equity Incentive Plan; fair values computed per ASC 718 .
- For 2023 performance, the company paid one‑third of NEO bonuses in fully vested stock options (policy change for cash conservation); Ms. Krebs was not a named executive officer in 2023 .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total Beneficial Ownership (as of Mar 18, 2025) | 46,875 shares; less than 1% of outstanding (25,208,068 shares) |
| Options – Exercisable (Dec 31, 2024) | 33,854 shares at $0.82 |
| Options – Unexercisable (Dec 31, 2024) | 91,146 shares at $0.82; 120,000 shares at $0.45 |
| RSUs Outstanding | None disclosed for Ms. Krebs |
| Hedging/Pledging Policy | Insider policy prohibits short sales, put/call option transactions, hedging transactions, and margin accounts or other speculative transactions in company stock |
| Clawback Policy | Incentive Compensation Recoupment Policy adopted Oct 2023; applies to current/former executive officers; recoupment for restatements involving financial reporting measures |
| Ownership Guidelines | Not disclosed in proxy |
Insider selling pressure indicator:
- No Form 4 filings for Ms. Krebs found via document search; inability to locate may reflect absence or limitations of this search dataset [Search: none found].
Employment Terms
| Provision | Ms. Krebs Terms |
|---|---|
| Employment Start Date | November 1, 2023 (Agreement effective and first day of employment) |
| Employment Status | At‑will |
| Base Salary | $385,000 (initial) |
| Target Bonus | 40% of base; eligible beginning with performance in 2024 |
| Non‑CIC Severance | 9 months base salary paid in installments; COBRA premium payments up to 9 months, subject to conditions |
| CIC Severance (Double‑Trigger within 12 months of CIC) | 12 months base salary (installments); lump‑sum equal to 100% of target bonus; COBRA premiums up to 12 months; full acceleration of all unvested equity |
| Equity Acceleration | Full acceleration upon qualifying CIC termination as above |
| 280G Cutback/Best‑Net | Best‑net reduction methodology to optimize after‑tax outcome; firm‑determined calculations; potential reduction to avoid 4999 excise tax |
| 409A Compliance | Severance subject to 409A; specified employee six‑month delay provisions; separate payment treatment; reimbursement timing limits |
| Restrictive Covenants | Confidential Information, Inventions Assignment, Non‑Solicitation, and Non‑Competition agreement (Exhibit A) required; survives termination |
| Indemnification | Company maintains a standard form of indemnification agreement for directors and executive officers |
| Location | Principal duties performed in Boston, MA area or other assigned location |
Investment Implications
- Compensation alignment and leverage: 2024 bonus paid at 91.3% of target despite 82.5% corporate goal achievement indicates disciplined but supportive committee discretion; target bonus set at 40% aligns with mid‑senior operator profiles in small‑cap biotech .
- Retention risk and catalysts: The Dec 1, 2024 option grant vests 100% by Dec 1, 2025 (or upon termination not for cause), creating a near‑term vesting inflection that could increase exercisable supply; ongoing monthly vesting from the Nov 1, 2023 grant adds a steady cadence of potential liquidity through 2028 .
- Change‑in‑control economics: Double‑trigger CIC provides 12 months base, 100% of target bonus, 12 months COBRA, and full equity acceleration—aligning incentives to support strategic transactions while limiting guaranteed cash multiples; best‑net 280G protection avoids value leakage from excise taxes .
- Governance and risk controls: Prohibitions on hedging, short sales, and margin accounts reduce misalignment/pledging risks; clawback policy (Oct 2023) enhances pay‑for‑performance accountability tied to financial reporting .
- Ownership “skin‑in‑the‑game”: Beneficial ownership is <1%, typical for later‑hire SMBIO executives; equity awards provide upside leverage but do not indicate concentrated ownership risk or control .
Monitoring recommendations: Track equity vesting dates (Dec 1, 2025 cliff for 120k options; monthly vesting of 91,146 options through 2028) for potential supply/demand signals; watch for any 8‑K 5.02 changes to role/comp terms and Form 4 activity to reassess selling pressure and alignment .