Jon Wigginton
SUTRO BIOPHARMAAbout Jon Wigginton
Jon Wigginton, M.D., age 63, is an independent director of Sutro Biopharma and has served on the Board since November 2020. He is a physician-scientist with 25+ years in clinical oncology and immuno‑oncology drug development, currently serving as President, Research & Development at Bright Peak Therapeutics. Dr. Wigginton holds an M.D. and a B.S. in Biology from the University of Michigan. Sutro’s Board has affirmatively determined he is independent under Nasdaq and SEC rules.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| MacroGenics, Inc. | SVP, Clinical Development & Chief Medical Officer | Aug 2013 – Mar 2020 | Led clinical strategy for antibody therapeutics in oncology |
| Bristol‑Myers (BMS) | Therapeutic Area Head, Immuno‑Oncology, Early Clinical Research; Executive Director, Discovery Medicine‑Clinical Oncology | 2008 – 2013 | Early clinical development leadership in I/O |
| Merck Research Laboratories | Director of Clinical Oncology | 2006 – 2008 | Clinical oncology leadership |
| National Cancer Institute (NCI), CCR | Head, Investigational Biologics Section, Pediatric Oncology Branch (and other roles) | Prior to 2006 | Academic research/clinical leadership |
| MPM Capital | Advisor | 2020 – 2021 | Investment/advisory role in healthcare |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Bright Peak Therapeutics | President, Research & Development | Current | Executive operator role in oncology R&D |
| Cullinan Oncology | Senior Advisor and Chairman of the SAB; previously CMO | Most recent; prior CMO (dates not specified) | Advisory and prior operating role |
| Checkmate Pharmaceuticals | Director | Jan 2022 – May 2022 | Company acquired by Regeneron in May 2022 |
| Society for Immunotherapy of Cancer (SITC) | President and Board member (non‑profit) | Prior | Professional society leadership |
Board Governance
- Committee assignments and chair roles
- Science & Technology Committee: Chair. Responsibilities include oversight of R&D/platform strategy and IP strategy.
- Compensation Committee: Member. Responsibilities include executive/director pay, incentive plan oversight, and succession planning (other than CEO).
- Independence: Board determined Dr. Wigginton is independent under Nasdaq/SEC rules.
- Attendance and engagement: In 2024, the Board met 7 times; Compensation Committee 6; Science & Technology Committee 5. No director attended fewer than 75% of aggregate Board and committee meetings. All directors attended the 2024 annual meeting.
- Board leadership: CEO and Chair roles are separated (CEO: Jane Chung; Chair: Connie Matsui).
Fixed Compensation
| Item (Non‑Employee Director Program) | Amount | Notes |
|---|---|---|
| Annual cash retainer | $40,000 | Standard director retainer |
| Committee Chair retainers | Audit: $20,000; Comp: $17,000; N&G: $10,000; S&T: $10,000 | Comp Chair increased from $14,000 in 2023; member fees below also increased |
| Committee member retainers | Audit: $10,000; Comp: $8,500; N&G: $5,000; S&T: $5,000 | Comp member up from $7,000 in 2023 |
| 2024 fees earned (Wigginton) | $57,750 | Reported cash fees in 2024 |
Performance Compensation
| Equity Component | Structure | 2024 Reported (Wigginton) |
|---|---|---|
| Annual option grant | 35,000 options; vest monthly until the earlier of next annual meeting or 1‑year anniversary | Option grant date fair value: $98,350 |
| Initial option grant on joining Board | 35,000 options; vest monthly over 3 years; plus pro‑rated annual grant to next meeting | Program terms (not 2024 event) |
| Outstanding options (12/31/2024) | N/A (aggregate count) | 121,000 options outstanding |
- Director equity is time‑based (no performance metrics); equity awards are options and vest as described above.
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Current public company boards | None disclosed besides Sutro |
| Prior public company boards | Checkmate Pharmaceuticals (Jan–May 2022) |
| Compensation Committee interlocks | None; no Sutro executive served on the board/comp committee of another entity with reciprocal relationships in 2024 |
Expertise & Qualifications
- Clinical oncology and immunotherapy drug development leader; experience contributed to strategies that led to FDA approvals of new treatments.
- Executive and advisory roles across biotech and pharma (Bright Peak, Cullinan, MacroGenics, BMS, Merck; NCI academic leadership).
- Education: M.D. and B.S. (Biology), University of Michigan.
Equity Ownership
| Measure (as of 3/31/2025 unless noted) | Amount | Notes |
|---|---|---|
| Beneficial ownership (shares) | 118,083 | Represents options exercisable within 60 days; <1% of shares outstanding |
| Common shares held | 0 | No directly held common shares disclosed |
| Options exercisable within 60 days | 118,083 | Counted in beneficial ownership presentation |
| Total outstanding director options (12/31/2024) | 121,000 | Outstanding options as of year‑end 2024 |
| Pledged or hedged shares | None disclosed; company policy prohibits hedging and pledging by directors | Policy prohibition on hedging/pledging |
Governance Assessment
- Strengths and alignment signals
- Independent director; chairs the Science & Technology Committee and serves on the Compensation Committee, bringing deep immuno‑oncology and clinical development expertise to both oversight domains.
- Strong meeting engagement: no directors fell below 75% attendance; Board/committee cadence suggests active oversight; all directors attended the 2024 annual meeting.
- Director pay structure emphasizes equity via options with time‑based vesting (alignment), while cash retainers are modest; 2024 program modestly increased Comp Committee stipends and annual option size, consistent with market updates.
- No related‑party transactions involving directors or 5% holders since Jan 1, 2023; Audit Committee maintains a formal related‑person transactions policy.
- Broader governance practices include separated Chair/CEO roles, anti‑hedging/pledging policy, a clawback policy, and high 2024 Say‑on‑Pay support (98.8%)—a positive signal for investor confidence.
- Potential watch items
- Industry interlocks: While none rise to related‑party status, Dr. Wigginton’s concurrent executive role at Bright Peak and extensive network across oncology could present perceived conflicts in certain partnering contexts; however, Sutro discloses no related‑party transactions and affirms his independence.
Overall, Dr. Wigginton presents as a technically strong, independent director with high engagement and alignment through equity-heavy compensation and no identified conflicts, appropriate for Sutro’s R&D‑intensive strategy.