Eric Bjerkholt
About Eric Bjerkholt
Independent director of Surrozen since April 2023; age 65. Currently CFO of Mirum Pharmaceuticals (since September 2023) with prior CFO roles at Chinook Therapeutics, Aimmune Therapeutics, and Sunesis Pharmaceuticals; earlier seven years in healthcare investment banking at J.P. Morgan. Education: MBA from Harvard Business School and Cand.Oecon from University of Oslo. The Board has determined he is independent under Nasdaq standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Mirum Pharmaceuticals, Inc. | Chief Financial Officer | Sep 2023–present | Oversees legal, financial reporting, budgeting, controls, IR, facilities, IT |
| Chinook Therapeutics, Inc. | Chief Financial Officer | Nov 2020–Sep 2023 | Executive finance leadership |
| Aimmune Therapeutics, Inc. | Chief Financial Officer | 2017–2020 | Executive finance leadership |
| Sunesis Pharmaceuticals, Inc. | EVP Corp Dev & Finance; CFO; Corporate Secretary; Chief Compliance Officer | 2004–2017 | Multiple senior roles across finance and compliance |
| J.P. Morgan & Co., Inc. | Healthcare Investment Banking | ~7 years | Investment banking experience |
| IntraBiotics; LifeSpring Nutrition; Age Wave | Senior executive finance roles | Not specified | Finance leadership |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Metagenomi, Inc. (public) | Director; Audit Committee Chair; member of Compensation and Nominating Committees | Current | Audit leadership; comp/nom committee participation |
| Cerus Corporation (public) | Director; Audit Committee Chair | Current | Audit leadership |
| Graybug Vision, Inc. (public; acquired by CalciMedica in 2023) | Director | 2020–2025 | Board service through acquisition era |
Board Governance
- Committee assignments: Audit Committee member; designated “audit committee financial expert” (also Christopher Y. Chai and David J. Woodhouse) .
- Independence: Independent director (all directors except CEO Craig Parker are independent per Nasdaq standards) .
- Attendance and engagement: In 2024 the Board met 10 times; Audit Committee met 5 times. Each director attended at least 75% of Board and committee meetings during their service (exception noted for Tim Kutzkey; no exception for Bjerkholt) .
- Board leadership: Chair is David J. Woodhouse; CEO and Chair roles separated; no Lead Independent Director disclosed .
- Executive sessions: Non-management directors meet in executive session regularly; independent directors meet in private session at least twice per year .
Fixed Compensation
| Component | 2024 Value | Notes |
|---|---|---|
| Annual Board retainer (cash) | $35,000 | Policy for non-employee directors |
| Audit Committee member retainer (cash) | $7,500 | Additional committee service fee |
| Total fees earned (cash) | $42,500 | Matches policy: $35k + $7.5k |
| Meeting fees | Not disclosed | No meeting fees policy disclosed |
Performance Compensation
| Equity Award | Grant Date | Shares/Units | Strike | Vesting | Fair Value |
|---|---|---|---|---|---|
| Annual nonstatutory stock option | Jun 2024 | 1,333 options | $11.00 | Fully vests on 1-year anniversary | $11,004 grant-date fair value |
| Initial option grant (upon appointment) | Policy basis | 2,666 options | FMV at grant | 36 equal monthly installments from grant date | Not disclosed specifically for Bjerkholt |
Additional equity details:
- Outstanding director options held (as of Dec 31, 2024): 5,332 options .
- Director option terms: Annual options vest in one installment on first anniversary; initial options vest monthly over 36 months; options accelerate upon Change of Control if continuous service until closing .
Other Directorships & Interlocks
- Network considerations: Current roles at Metagenomi and Cerus include Audit Chair responsibilities; Graybug Vision board tenure continued through its acquisition by CalciMedica in 2023 .
- No shared-directorship conflicts between Bjerkholt and Surrozen’s disclosed related-party transactions; audit committee oversees related-party reviews .
Expertise & Qualifications
- Financial expertise: Named “audit committee financial expert” by the Board .
- Senior finance leadership: Multiple public-company CFO roles and prior healthcare investment banking experience .
- Education: MBA (Harvard); Cand.Oecon (University of Oslo) .
Equity Ownership
| Holder | Beneficial Ownership (Shares) | % Outstanding | Composition |
|---|---|---|---|
| Eric Bjerkholt | 3,184 | <1% | Options exercisable or becoming exercisable within 60 days |
Alignment policies:
- Anti-hedging/pledging: Company policy prohibits short sales, options hedging, margin accounts, and pledging by directors and employees .
- Director stock ownership guidelines: Not detailed in proxy (Corporate Governance Guidelines reference “Stock ownership” but specifics not disclosed) .
Governance Assessment
- Independence and committee role: Independent director with audit committee membership and “financial expert” designation—positive for oversight of controls, reporting, and related-party review .
- Attendance/engagement: Met minimum attendance thresholds; Board (10 meetings) and Audit Committee (5 meetings) activity indicates an engaged governance cadence .
- Compensation mix: Modest cash retainer supplemented by time-based options; no RSUs or performance-linked equity for directors—typical for small-cap biotech governance; cash aligns with role; options provide potential alignment, but realized alignment depends on exercise and holding .
- Ownership alignment: Beneficial ownership is <1% and comprised of options becoming exercisable—limited direct share ownership signal; alignment relies on director option grants rather than material equity stakes .
- Conflicts/Related-party exposure: No transactions involving Bjerkholt disclosed; audit committee (including Bjerkholt) oversees related-party transactions, which in 2024–2025 primarily involved The Column Group affiliations and sublease arrangements; governance process and recusals were described for a separate director (Kutzkey) .
RED FLAGS
- Low direct equity ownership: Beneficial ownership <1% and composed of options, not common shares—potentially weaker “skin-in-the-game” signal for some investors .
- Multiple external responsibilities: Concurrent CFO role at Mirum and Audit Chair roles at two public companies can raise time-commitment considerations; no specific attendance shortfalls disclosed for Bjerkholt in 2024 .
Not disclosed items: Director-specific stock ownership guidelines, hedging activity (policy prohibits), pledging (policy prohibits), say-on-pay outcomes, or director-level performance metrics.
Notes on Related-Party Transactions
- Governance context: Audit Committee responsibilities include reviewing and approving related-party transactions and risk management oversight .
- Disclosed related-party items: Research collaboration with TCGFB, private placements in April 2024 and March 2025 adjusting warrant terms, and sublease with Nura Bio (affiliations with The Column Group). No disclosures link these transactions to Bjerkholt personally .
Director Compensation (2024)
| Metric | 2024 |
|---|---|
| Fees Earned or Paid in Cash ($) | $42,500 |
| Option Awards ($) | $11,004 |
| Total ($) | $53,504 |
Committee Assignments (Current)
| Committee | Role |
|---|---|
| Audit Committee | Member; Audit Committee Financial Expert |
| Compensation Committee | None |
| Nominating & Corporate Governance Committee | None |