Taylor Schreiber
About Taylor Schreiber
Dr. Taylor Schreiber, 45, is co‑founder of Shattuck Labs and has served as CEO since January 29, 2020; he joined the board in 2017. He holds a B.A. in Biology (Bucknell) and an M.D./Ph.D. in Cancer Biology (University of Miami Miller School of Medicine) . Under his leadership, Shattuck terminated the legacy SL‑172154 program and pivoted to SL‑325 (DR3 antagonist) with an IND planned for Q3 2025 and a cash runway into 2027 . Recent financials: collaboration revenue was $5.7M in 2024 vs $1.7M in 2023, net loss was $75.4M in 2024 vs $87.3M in 2023; cash and equivalents were ~$73.0M at year‑end 2024 .
| Selected Financials | FY 2023 | FY 2024 |
|---|---|---|
| Collaboration Revenue ($USD Millions) | $1.657 | $5.721 |
| Net Loss ($USD Millions) | $87.298 | $75.410 |
| Cash & Cash Equivalents + Investments ($USD Millions) | $130.6 | $73.0 |
Board governance: Schreiber serves as CEO and director; he is not independent. The independent Chairman role is separated (Dr. George Golumbeski), and independent directors hold executive sessions, mitigating dual‑role concerns .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Shattuck Labs | Chief Scientific Officer | Jan 2017 – Jan 2020 | Built pipeline; transitioned to CEO |
| Shattuck Labs | Chief Executive Officer | Jan 2020 – Present | Led strategy; pivot to SL‑325 |
| Shattuck Labs | Director (Board) | 2017 – Present | Founder‑level governance continuity |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Heat Biologics (now NightHawk) | VP R&D; later Chief Scientific Officer | Mar 2014 – Dec 2016 | Immuno‑oncology leadership |
| Pelican Therapeutics | Chairman, Scientific Advisory Board | Jan 2011 – Mar 2017 | Oversight of immunotherapy strategy |
Fixed Compensation
| Metric | 2023 | 2024 | 2025 (current terms) |
|---|---|---|---|
| Base Salary ($) | $525,000 | $560,000 | $565,600 |
| Target Bonus % | 50% (per contract) | 50% (target $280,000) | 50% |
| Actual Bonus Paid ($) | $262,500 | $168,000 | — |
| All Other Compensation ($) | $5,385 | $14,560 | — |
Year‑over‑year mix shifted heavily toward equity in 2024 (option awards $2.47M vs $0.24M in 2023) .
Performance Compensation
Annual Cash Incentive (2024)
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Corporate goals (clinical SL‑172154; preclinical programs; manufacturing improvements; corp/dev objectives) | Not disclosed | $280,000 | Assessed at 60% goal achievement | $168,000 (60% of target) | Cash (paid Feb 2025) |
Equity Awards and Vesting
| Award Type | Grant Date | Shares/Units | Exercise Price | Vesting Triggers/Schedule | Expiration |
|---|---|---|---|---|---|
| Stock Option (time‑based) | 08/06/2020 | 176,597 (exercisable) | $4.67 | 25% at 1‑yr; monthly/quarterly thereafter | 08/06/2030 |
| Stock Option (time‑based) | 12/22/2020 | 27,563 (exercisable) | $53.02 | Same as above | 12/22/2030 |
| Stock Option (performance) | 01/10/2022 | 178,150 (unearned) | $7.43 | Vests only if stock ≥ $18.00 for 30 consecutive trading days | 01/10/2032 |
| Stock Option (performance) | 01/25/2023 | 162,000 (exercisable) | $3.57 | 3 equal tranches at $4/$5/$6 for 30 consecutive days; achieved Jan 2024 | 01/25/2033 |
| Stock Option (time‑based) | 01/12/2024 | 330,100 (unexercisable) | $9.41 | 25% at 1‑yr; remainder over 36 months | 01/12/2034 |
Clawback: Nasdaq 10D‑1 policy to recover excess incentive‑based compensation after restatements (prior 3 fiscal years) .
Insider trading: Prohibits short sales, derivatives, hedging; pre‑clearance required for directors; caution against margin/pledging due to potential unlawful insider trading risk .
Equity Ownership & Alignment
| Ownership Detail | Amount |
|---|---|
| Total Beneficial Ownership (shares) | 3,045,758 |
| Ownership (% of outstanding) | 6.4% |
| Components | 2,610,750 via Houghton Capital Holdings LLC (controlled by Schreiber) ; 71,002 direct ; 364,006 options exercisable within 60 days |
| Excluded Performance Options | 178,150 (subject to $18 stock‑price trigger) |
| Vested vs Unvested Options | Vested: 176,597 (2020), 27,563 (2020), 162,000 (2023) ; Unvested/Unearned: 330,100 (2024 time‑based), 178,150 (2022 performance) |
| Hedging/Pledging | Company policy bans hedging and short‑term/speculative trading; cautions on margin/pledging; no individual pledging disclosed in filings |
Stock ownership guidelines for executives are not disclosed in the proxy; Schreiber does not receive extra board compensation .
Employment Terms
| Term Element | Details |
|---|---|
| Employment Agreement | Effective Dec 5, 2019; amended Mar 27, 2020 (CEO transition) and Mar 12, 2021 |
| Role Start | CEO since Jan 29, 2020 |
| Base Salary | $565,600 effective Jan 1, 2025 |
| Target Bonus | 50% of base salary (2025) |
| At‑Will Employment | Yes; 30 days’ notice by executive |
| Severance (no CIC) | 1.0x base salary; earned but unpaid prior‑year bonus + pro‑rata current‑year bonus (based on actual performance); accelerate pre‑Dec 1, 2020 equity (performance awards at target); up to 12 months COBRA |
| Severance (CIC window) | Termination without cause or good‑reason resignation within 30 days prior to or 12 months post‑CIC: 1.5x base + 1.5x target bonus; full acceleration of all equity; up to 18 months COBRA |
| Triggers/Definitions | Good Reason, Cause, Change in Control defined; 280G cut‑back or full‑pay whichever yields greater after‑tax outcome |
Board Governance (Director Service, Committees, Independence)
- Board service: Director since 2017; CEO and director (non‑independent) .
- Committee roles: Schreiber serves on no board committees; all committees are fully independent (Audit, Compensation, Nominating) .
- Leadership structure: Independent Chairman (Golumbeski) distinct from CEO; independent directors meet in executive session routinely .
- Attendance: Board met eight times in 2024; all directors met at least 75% attendance; six directors attended the 2024 annual meeting .
Investment Implications
- Pay‑for‑performance alignment: 2024 bonus paid at 60% of target tied to achievement against pre‑set corporate goals, indicating variable cash aligned to execution . Equity tilt increased markedly in 2024 (options $2.47M vs $0.24M in 2023), strengthening long‑term alignment but increasing dilution sensitivity .
- Vesting and potential selling pressure: Large 2024 time‑based option (330,100 shares) begins vesting after 1 year, creating periodic vesting over 36 months; 2022 performance option requires sustained share‑price ≥ $18 for 30 days, limiting near‑term vesting unless performance improves . Exercise value depends on market price at vest; insider trading policy and pre‑clearance may temper opportunistic selling .
- Ownership alignment: Significant founder‑level stake (6.4%) including 2.61M shares through Houghton Capital Holdings reflects high “skin‑in‑the‑game” . No pledging disclosed; company discourages pledging via policy .
- Retention and change‑of‑control economics: Double‑trigger CIC at 1.5x salary+target bonus with full acceleration of equity likely reduces retention risk during strategic transactions while limiting windfalls absent termination .
- Governance quality: Separation of Chair/CEO and independent committees support oversight; absence of committee roles for CEO mitigates dual‑role independence concerns .
- Execution track record: Strategic pivot to SL‑325 and runway guidance into 2027 demonstrate decisive capital allocation; clinical progress and Phase 1 timing are near‑term catalysts .