Srinivas Akkaraju
About Srinivas Akkaraju
Srinivas Akkaraju, M.D., Ph.D., age 57, has served as an independent director of Scholar Rock since July 2022. He is the Managing General Partner and founder of Samsara BioCapital (since March 2017), and holds an M.D. and Ph.D. in Immunology from Stanford University and undergraduate degrees in Biochemistry and Computer Science from Rice University; the Board cites his biotechnology investment experience as a core qualification for service.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Syros Pharmaceuticals, Inc. | Director | — | — |
| Chinook Therapeutics, Inc. | Director | — | — |
| Intercept Pharmaceuticals, Inc. | Director | — | — |
| Jiya Acquisition Corp. | Director | — | — |
| Seattle Genetics, Inc. (Seagen) | Director | — | — |
| Principia Biopharma, Inc. | Director | — | — |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Alumis, Inc. | Director | — | Current public company directorship |
| Mineralys Therapeutics, Inc. | Director | — | Current public company directorship |
| vTv Therapeutics, Inc. | Director | — | Current public company directorship |
| Inventiva S.A. | Director | — | Current public company directorship |
| Samsara BioCapital | Managing General Partner | Since Mar 2017 | Founder; investment leadership |
Board Governance
- Board class: Class I (term expired at 2025 Annual Meeting); Board currently 10 members; Chair of the Board is David Hallal.
- Committee membership: Science, Innovation and Technology Committee member; chair is Jeffrey S. Flier; the committee met 3 times in 2024.
- Independence: Board determined all directors except the CEO (Jay Backstrom) are independent under Nasdaq and SEC rules; independence assessment considered associations with >5% holders.
- Attendance: The full Board met 8 times in 2024; each director attended at least 75% of Board and applicable committee meetings; all directors attended the 2024 Annual Meeting.
Fixed Compensation
| Component | 2024 Amount ($) |
|---|---|
| Cash fees (retainers, committee fees) | 51,140 (paid to his employer) |
Policy detail (as of Dec 31, 2024): cash annual retainers—Board member $45,000; Non-Executive Chair add’l $115,000; Audit member $10,000 (Chair +$10,000); Compensation member $7,500 (Chair +$7,500); Nominating member $5,000 (Chair +$5,000); Science & Technology member $7,500 (Chair +$7,500). On April 9, 2024, Board member retainer increased (from $40,000 to $45,000) and Compensation Committee member/chair fees increased.
Performance Compensation
| Component | 2024 Grant Date Fair Value ($) |
|---|---|
| Option awards | 112,257 |
| Stock awards (RSUs) | 112,860 |
| Total equity grant value | 225,117 |
| Outstanding Equity as of Dec 31, 2024 | Count |
|---|---|
| Options | 110,000 |
| RSUs | 13,500 |
| Director Equity Grant Structure (policy) | Terms |
|---|---|
| Initial equity grant (post 4/9/2024 revision) | 36,000 options + 27,000 RSUs; vests monthly over 3 years; capped at $800,000 value at grant |
| Annual equity grant (post 4/9/2024 revision) | 18,000 options + 13,500 RSUs; vests in full on earlier of first anniversary or next annual meeting; capped at $400,000 value at grant |
Signals: April 2024 shift from 100% options to mixed options+RSUs reduces pay-for-performance convexity and increases guaranteed value; a governance-relevant design change to balance retention and alignment.
Other Directorships & Interlocks
| Topic | Details |
|---|---|
| Affiliation with significant holder | Samsara BioCapital beneficially owns 6,677,700 shares (7.0%); Dr. Akkaraju is the managing member of Samsara GP (general partner of Samsara LP) and may be deemed to share voting/dispositive power; his personal beneficial ownership line shows 6,796,533 shares (7.1%). |
| 2023 registered offering participation | Samsara BioCapital purchased 2,189,781 shares at $6.85/share ($14,999,999.85 total) in Oct 2023 offering. |
| Related party transaction controls | Audit committee must pre-approve related person transactions >$120,000; reviews fairness vs third-party terms, business purpose, and materiality. |
Expertise & Qualifications
- Education: M.D. and Ph.D. (Immunology), Stanford; B.A.s in Biochemistry and Computer Science, Rice.
- Domain expertise: Biotechnology investing and board-level oversight; Board specifically cites his investment experience as qualifying.
Equity Ownership
| Holder | Shares | % of Outstanding | Source/Notes |
|---|---|---|---|
| Srinivas Akkaraju (beneficial ownership line) | 6,796,533 | 7.1% | Based on 94,860,246 shares outstanding as of Mar 26, 2025 |
| Samsara BioCapital, L.P. | 5,612,896 shares + 1,064,804 warrants | — | Per Schedule 13D; shared voting/disposition via Samsara GP and Dr. Akkaraju |
| Options and RSUs (director-level, as of 12/31/2024) | 110,000 options; 13,500 RSUs | — | Outstanding awards on director compensation table |
Trading, pledging, and hedging policy: Prohibits short sales, derivatives, hedging of company stock, and pledging/margin arrangements without audit committee approval—mitigates alignment risk.
Insider Trades
| Date | Type | Shares | Price ($) | Ownership Form | Beneficially Owned After | Source |
|---|---|---|---|---|---|---|
| 10/03/2025 | Purchase | 11,011 | 35.61 (weighted avg) | Indirect by Samsara Opportunity Fund, L.P. | 11,011 | |
| 10/03/2025 | Purchase | 56,703 | 36.74 (weighted avg) | Indirect by Samsara Opportunity Fund, L.P. | 67,714 | |
| 10/03/2025 | Purchase | 319,700 | 37.42 (weighted avg) | Indirect by Samsara Opportunity Fund, L.P. | 387,414 | |
| 10/06/2025 | Purchase | 18,414 | 37.89 (weighted avg) | Indirect by Samsara Opportunity Fund, L.P. | 405,828 | |
| 10/06/2025 | Purchase | 80,863 | 38.68 (weighted avg) | Indirect by Samsara Opportunity Fund, L.P. | 486,691 | |
| 10/06/2025 | Purchase | 13,748 | 39.52 (weighted avg) | Indirect by Samsara Opportunity Fund, L.P. | 500,439 |
Footnote context: Dr. Akkaraju is a managing member of Samsara BioCapital GP, LLC (GP of Samsara LP) and disclaims beneficial ownership except to the extent of his pecuniary interest; large holdings also reported by Samsara LP in Form 4/13D filings.
Governance Assessment
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Strengths:
- Independent director with deep biotech investment experience; consistent attendance and engagement (≥75% of meetings; present at Annual Meeting).
- Clear related-party oversight (audit committee pre-approval for >$120k transactions) and robust insider trading policy prohibiting hedging/pledging without approval.
- Director equity grants and meaningful beneficial ownership indicate alignment; annual grants vest on short cycles, reinforcing cadence of oversight.
-
Watch items and potential conflicts:
- Affiliation with a significant shareholder (Samsara BioCapital ~7% stake) and fund-level participation in offerings may present perceived conflicts; Board explicitly considered >5% associations in independence determinations. Ensure continued audit committee oversight of any transactions and voting/dispositive control disclosures.
- April 2024 shift adding RSUs to director grants reduces option-only leverage; while supportive of retention, it modestly lowers pay-for-performance sensitivity—monitor equity mix trends over time.
-
Compensation structure signals:
- 2024 director cash fees were modest versus equity value (cash $51,140 vs equity ~$225k), reflecting equity-centric alignment; cash paid to employer (Samsara) is disclosed and standard for investment-affiliated directors.
- Policy changes increased board and compensation committee retainers in 2024, and introduced RSU components—review for multi-year consistency and dilution impact within equity plan limits.
Overall: Governance framework (independence, attendance, committee service) appears sound; primary sensitivity is the director’s dual role as fund GP of a significant holder, mitigated by clear policy oversight and transparent beneficial ownership reporting.