Vikas Sinha
About Vikas Sinha
Vikas Sinha, age 61, is Chief Financial Officer (CFO), Principal Financial Officer and Principal Accounting Officer of Scholar Rock (SRRK), appointed effective April 27, 2025 . He brings 30+ years of life sciences leadership across finance, strategy, business development, investor relations, IT and HR; prior roles include CFO of ElevateBio (2017–2025), President & CFO of AlloVir (2018–2025), CFO of Alexion (2005–2016), and senior finance roles at Bayer in the U.S. and Japan . He is a Chartered Accountant (India) and U.S. CPA, with a B.Com. from Tribhuvan University and an MBA from the Asian Institute of Management . In Q3 2025 remarks, Sinha outlined a financing strategy emphasizing non‑dilutive capital (extending loan facilities), opportunistic limited ATM usage, and maintaining a cash runway into 2027 while supporting apitegromab launch and pipeline priorities .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| ElevateBio LLC | Co‑founder; Chief Financial Officer; Board Member | Dec 2017 – Apr 2025 | Built corporate finance and capital strategy for multi‑platform cell/gene therapy company . |
| AlloVir, Inc. | President & Chief Financial Officer; Director | Sep 2018 – Mar 2025 | Led financing and operations for ElevateBio portfolio company; board service until Mar 2025 . |
| Alexion Pharmaceuticals, Inc. | Chief Financial Officer | Sep 2005 – Dec 2016 | Oversaw finance, BD, strategy, IR and IT during commercialization scale‑up . |
| Bayer Pharmaceuticals Corp. (U.S.) | Vice President & Chief Financial Officer | Prior to 2005 (years not specified) | Senior finance leadership in U.S. market . |
| Bayer Yakuhin Ltd. (Japan) | Vice President & Chief Financial Officer | Prior to 2005 (years not specified) | Senior finance leadership in Japan . |
External Roles
| Organization | Role | Years |
|---|---|---|
| Verona Pharma plc | Non‑Executive Director | Since Sep 2016 . |
| Orna Therapeutics | Director | Since Jan 2025 . |
| AlloVir, Inc. | Director | Jan 2019 – Mar 2025 . |
Fixed Compensation
| Component | 2025 Terms | Notes |
|---|---|---|
| Base Salary | $800,000 | Per Executive Agreement. |
| Target Bonus (%) | 60% of base salary | Annual incentive determined by Board/Comp Committee. |
| Actual Bonus Paid | Not disclosed | 2025 payout not disclosed in filings. |
Performance Compensation
| Incentive Type | Grant Size | Metric | Vesting | Payout/Cap | Notes |
|---|---|---|---|---|---|
| Stock Options | Grant-date fair value $3,000,000 | Time-based; equity value creation | 25% at 1-year; remaining 75% in 12 equal quarterly installments thereafter | N/A | Inducement under 2022 Inducement Plan; number of options not disclosed . |
| RSUs | 100,000 units | Time-based | Annual installments over 4 years | N/A | Inducement award . |
| PSUs | 200,000 target units | Company stock price targets + time-based tranches | Over 4 years | Max 250% of target | Performance vesting linked to share price thresholds . |
Vesting Schedules and Key Dates
| Award | Vesting Commencement | First Vesting Event | Ongoing Vesting |
|---|---|---|---|
| Stock Options | Apr 27, 2025 | 25% on Apr 27, 2026 | 12 equal quarterly installments thereafter (through 2029) . |
| RSUs (100,000) | Apr 27, 2025 | Annual tranche each year (2026–2029) | Time-based annual vesting . |
| PSUs (200,000 target; up to 250% cap) | Apr 27, 2025 | Tranches upon meeting stock price targets and time conditions | Mixed performance/time vesting across 4 years . |
Equity Ownership & Alignment
- Hedging/pledging: Company policy prohibits hedging, short sales, derivative transactions, and pledging/margin accounts for employees, officers and directors, mitigating misalignment and selling pressure risks .
- Clawback: Nasdaq-compliant Compensation Recovery Policy (adopted Nov 28, 2023) mandates recovery of incentive-based compensation upon required accounting restatements, regardless of fault, covering the prior 3 fiscal years .
- Beneficial ownership: As of the March 26, 2025 record date in the 2025 proxy, Sinha was not listed among named executive officers/directors (he joined Apr 27, 2025), so individual share ownership as of that date is not disclosed .
Employment Terms
| Term | Details |
|---|---|
| Role/Start | CFO; Principal Financial & Accounting Officer; effective Apr 27, 2025 . |
| Severance (No CIC) | 12 months base salary + target bonus; Prior Year Bonus (if applicable); prorated Current Year Bonus based on actual performance; 12 months COBRA; 12 months acceleration of time-based equity; pro‑rated PSU acceleration for price targets achieved during employment or within 4 months post‑termination . |
| Severance (With CIC) | Lump sum 1.5x (base + target bonus); Prior Year Bonus; prorated Current Year Bonus (higher of actual/target); 24 months COBRA; acceleration of all time-based awards; PSUs accelerated based on actual achievement (other performance awards higher of actual/target) . |
| Indemnification | Standard officer indemnification agreement . |
| Non‑compete / Non‑solicit | Not disclosed in filings reviewed. |
Performance & Track Record (Recent CFO Actions)
| Area | Disclosed Results/Actions |
|---|---|
| Liquidity | Q3 2025 cash & equivalents: $369.6 million . |
| Capital Raises | Executed ATM: 2.77 million shares for net $91.7 million; drew $50 million from debt facility . |
| Warrant Exercises | Anticipates ~$60 million cash from common warrants expiring Dec 31, 2025 . |
| Runway Guidance | Cash expected to fund operations into 2027, excluding potential apitegromab sales or PRV . |
| Financing Strategy | Prioritizing extending loan facilities first; royalty financing next; equity last (to minimize dilution); opportunistic, limited ATM use going forward . |
Compensation Structure Analysis
- Shift to performance equity: PSU design tied to stock price targets and up to 250% payout cap increases at‑risk pay and alignment with shareholder value creation .
- Time-based retention mix: Significant RSU and option grants with 4‑year schedules create predictable vesting and potential selling windows (first major vest Apr 27, 2026 for options; annual RSU tranches 2026–2029) .
- Governance safeguards: Company-wide hedging/pledging prohibitions and a formal clawback policy reduce misalignment and recovery risk on restatements .
- Severance economics: Standard exec protections with 1.5x CIC multiple and full time-based acceleration; PSU acceleration based on actual performance under CIC supports retention yet could be viewed as generous in change‑of‑control scenarios .
Investment Implications
- Alignment: The mix of options, RSUs, and performance‑based PSUs, combined with strict no‑hedging/no‑pledging and clawback provisions, signals strong pay‑for‑performance and governance practices .
- Near‑term vesting pressure: First 25% option cliff in Apr 2026 and annual RSU tranches may create periodic insider selling windows; monitoring Form 4s around these dates is prudent .
- Financing discipline: Sinha’s preference for non‑dilutive capital (debt extension, warrants) and opportunistic ATM use, with runway guided into 2027, reduces dilution risk ahead of apitegromab approval/resubmission milestones .
- Retention risk: Competitive severance/CIC terms and multi‑year equity vesting mitigate retention risk; PSU structure ties upside to TSR via price targets, aligning incentives through regulatory and launch execution .