Junlin Ho
About Junlin Ho
General Counsel & Corporate Secretary at Scholar Rock (SRRK) since February 2021; joined the company in March 2018 as VP, Head of Corporate Legal and became SVP, Head of Legal & Corporate Secretary from March 2020 to January 2021. Education: B.S. from MIT and J.D. from the University of Chicago Law School; prior roles include Associate General Counsel at Foundation Medicine (2013–2018) and corporate attorney at Ropes & Gray LLP; brief tenure at Ziopharm Oncology in 2013 . Age 46 (as of March 31, 2025) and officer since 2021 . Company-level performance context: TSR improved from $36.43 to $173.99 on a $100 investment across 2022–2024; SRRK did not have revenue in 2024 or 2023, and 2022 revenue was related to collaboration; net income is not used as a pay metric given development-stage status .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Scholar Rock | VP, Head of Corporate Legal | Mar 2018–Mar 2020 | Built corporate legal function; foundation for later GC role |
| Scholar Rock | SVP, Head of Legal & Corporate Secretary | Mar 2020–Jan 2021 | Led legal and corporate governance; elevated to GC |
| Scholar Rock | General Counsel & Corporate Secretary | Feb 2021–present | Executive legal leadership; officer since 2021 |
| Foundation Medicine | Associate General Counsel | 2013–2018 | Roles of increasing responsibility in legal |
| Ziopharm Oncology | Associate General Counsel | 2013 | Brief role noted prior to Foundation Medicine |
| Ropes & Gray LLP | Corporate Attorney (Life Sciences) | Not disclosed | Early career legal training in life sciences |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| None disclosed in company filings | — | — | No external board roles reported for Ho |
Fixed Compensation
| Year | Base Salary ($) | Target Bonus (%) | Actual Bonus Paid ($) | Perquisites/Other ($) |
|---|---|---|---|---|
| 2022 | 394,039 | 40% of base salary | 159,185 | 10,505 (benefits, 401k, etc.) |
- Annual bonuses are based on corporate performance goals set by the Board; targets for 2022 were expressed as a percent of base salary (Ho: 40%) .
Performance Compensation
Annual Cash Incentive
| Year | Metric | Weighting | Target | Actual | Payout Timing |
|---|---|---|---|---|---|
| 2022 | Corporate performance goals (Board-determined) | Not disclosed | 40% of base salary | Not disclosed (amount awarded: $159,185) | Paid subsequent year (for 2022 performance) |
RSU Awards (time-based vesting)
| Grant Date | RSUs (#) | Market Value at 12/30/2022 ($) | Vesting Schedule |
|---|---|---|---|
| 02/01/2021 | 8,663 | 78,400 | Equal annual installments over 4 years; first vest Jan 15, 2022 |
| 02/14/2022 | 37,500 | 339,375 | Equal annual installments over 4 years; first vest Jan 15, 2023 |
| 06/16/2022 | 45,500 | 411,775 | Equal annual installments over 3 years; first vest Jun 15, 2023 |
- RSU values reflect market value of unvested shares at 12/30/2022 closing price ($9.05) .
Stock Option Awards (time-based vesting)
| Grant Date | Exercisable (#) | Unexercisable (#) | Strike ($) | Expiration | Vesting Schedule Details |
|---|---|---|---|---|---|
| 04/03/2018 | 42,974 | — | 7.17 | 04/03/2028 | 25% on Mar 5, 2019; remainder quarterly over 12 quarters |
| 05/23/2018 | 7,005 | — | 14.00 | 05/23/2028 | Vested in equal quarterly installments over 16 quarters from Aug 29, 2018 |
| 01/31/2019 | 10,125 | — | 15.11 | 01/31/2029 | Vested in equal quarterly installments over 16 quarters from Mar 31, 2019 |
| 02/06/2020 | 25,128 | 11,422 | 13.52 | 02/06/2030 | Equal quarterly installments for 16 quarters from Apr 1, 2020 |
| 03/23/2020 | 6,462 | 2,938 | 14.75 | 03/23/2030 | Equal quarterly installments for 16 quarters; first vest May 1, 2020 |
| 02/01/2021 | 16,843 | 21,657 | 58.93 | 02/01/2031 | Equal quarterly installments for 16 quarters; first vest Apr 1, 2021 |
| 02/14/2022 | 7,031 | 30,469 | 18.08 | 02/14/2032 | Equal quarterly installments for 16 quarters; first vest Apr 1, 2022 |
| 06/16/2022 | 7,583 | 37,917 | 4.86 | 06/16/2032 | Equal quarterly installments for 12 quarters; first vest Sep 16, 2022 |
Equity Ownership & Alignment
| As-of Date | Direct Shares | Options (Exercisable within 60 days) | Total Beneficial Ownership | Ownership % of Shares Outstanding |
|---|---|---|---|---|
| Mar 20, 2023 | 36,662 | 146,092 | 182,754 | * (<1%, per table notation) |
- Shares pledged as collateral: not disclosed in filings reviewed .
- Stock ownership guidelines and compliance status: not disclosed in filings reviewed .
- Vested vs unvested equity: See option and RSU tables above for exercisable/unexercisable and unvested RSU counts as of 12/30/2022 .
Employment Terms
| Item | Detail |
|---|---|
| Employment start date | March 5, 2018 (initial employment agreement date) |
| Current role tenure | General Counsel & Corporate Secretary since Feb 2021; officer since 2021 |
| Contract status | Employment agreement periodically amended; restated March 1, 2023 |
| Severance (no change-in-control) | 9 months base salary; COBRA reimbursement up to 9 months (company contribution equivalent), subject to release |
| Change-of-control (double trigger) | If terminated without cause or resigns for good reason within 18 months post CoC: 12 months base salary + 1.0x annual target bonus; COBRA reimbursement up to 12 months; immediate acceleration/vesting of all time-based equity awards |
| Non-compete / non-solicit | Not disclosed in Ho’s agreement summary (standard confidentiality noted for other exec agreements) |
| Clawbacks / tax gross-ups | Not disclosed in the reviewed sections |
Performance & Track Record
- Company TSR (value of $100 initial investment): 2022 $36.43; 2023 $75.68; 2024 $173.99 .
- Company revenue context: no revenue in 2024 and 2023; 2022 revenue associated with a collaboration; net income is not used as an executive pay performance measure .
- Compensation governance: compensation committee engaged Pay Governance as independent consultant for 2022 program; bonuses anchored to corporate goals .
Compensation Structure Analysis
- Mix of cash vs equity: In 2022, Ho’s compensation included fixed salary ($394,039) and meaningful equity (stock awards $899,130; option awards $665,497) plus cash bonus ($159,185), indicating a high at-risk/equity component aligned with long-term value creation .
- Equity structure: Shift to combined options and RSUs (introduced in 2022 with supplemental grants to maintain retention and ownership), with time-based vesting promoting retention over multi-year horizons .
- Performance metrics: Annual cash bonus tied to corporate goals, not revenue/earnings measures (development stage); targets expressed as % of salary (Ho: 40%) .
Related Party Transactions and Red Flags
- No related party transactions involving Ho above $120,000 since Jan 1, 2023 reported; registered offerings in 2023 and 2024 list purchases by 5% holders and certain affiliates, but no entries naming Ho .
- No disclosures of hedging or pledging by Ho; no option repricing noted for her awards in reviewed filings .
Say-on-Pay & Shareholder Feedback
- Say-on-Pay advisory vote is on the ballot at the 2025 Annual Meeting; Board recommends “FOR” and will consider outcomes in future compensation decisions .
Investment Implications
- Retention risk appears mitigated by time-based RSU/option vesting across 2021–2022 grants and robust double-trigger CoC protections (12 months salary + 1x target bonus and equity acceleration) .
- Potential insider selling pressure may arise around scheduled RSU annual vesting dates (e.g., Jan 15 and Jun 15) and from sizable pools of options reaching exercisability; monitor Form 4s near those dates for transaction signals .
- Alignment: Ho’s at-risk equity and long vesting promote long-term orientation; however, as legal executive in a development-stage biotech where revenue/earnings aren’t pay metrics, trading signals from her compensation are less performance-linked than for commercial executives; company-level TSR trends are the more relevant performance indicator .