Anne Erickson
SavaraAbout Anne Erickson
Anne Erickson is Chief Business Officer of Savara Inc., age 53 as of April 1, 2025, with a B.A. in English from the University of Minnesota . She has served as CBO since August 2023 and previously progressed through senior operating, chief of staff, and investor relations roles at Savara; prior industry experience includes leadership roles at Mirati Therapeutics, Halozyme Therapeutics, Pfizer, and Ogilvy . Company performance context during her tenure: Savara reported a 2024 net loss of $95.9 million and showed pay-versus-performance TSR values of $65 (fixed $100 basis) in 2024 vs. $303 in 2023 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Savara Inc. | Chief Business Officer | Aug 2023 – Present | Executive leadership for business operations and commercialization planning |
| Savara Inc. | SVP, Global Business Operations | Sep 2022 – Aug 2023 | Built global ops capabilities ahead of commercialization |
| Savara Inc. | SVP & Chief of Staff | Oct 2020 – Sep 2022 | Coordinated cross-functional execution and executive initiatives |
| Savara Inc. | VP & Head, IR & Corporate Communications | May 2019 – Oct 2022 | Investor and stakeholder messaging; capital markets support |
| Savara Inc. | Director, IR & Corporate Communications | Oct 2018 – May 2019 | Established IR/communications function |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Mirati Therapeutics | Leadership roles (not specified) | — | Biotech commercial/strategy exposure |
| Halozyme Therapeutics | Leadership roles (not specified) | — | Rare-disease/biopharma operations experience |
| Pfizer | Leadership roles (not specified) | — | Large-cap pharma commercial experience |
| Ogilvy | Leadership roles (not specified) | — | Brand and communications expertise |
Fixed Compensation
| Year | Base Salary | Target Bonus ($) | Target Bonus (% of Base) |
|---|---|---|---|
| 2025 | — | $165,080 | 40% |
Note: Base salary not disclosed; implied base from target/percent ≈ $412,700 (165,080/0.40) using disclosed inputs .
Performance Compensation
2025 Annual Bonus Structure (Anne Erickson)
| Component | Weighting | Metrics/Payout Determination |
|---|---|---|
| Corporate performance | 75% | Board-set company goals; Board discretion on payout |
| Individual performance | 25% | Role-specific objectives; Board discretion on payout |
2024 Companywide Performance Goals (company program reference)
| Goal | Weight | Target | Actual/Payout |
|---|---|---|---|
| Report IMPALA-2 top-line | 35% | Report by June (100%) or July (95%) | Companywide goals achieved; paid at 110% of corporate portion for NEOs |
| Optimize molgramostim program (clinical/medical) | 10% | EAP, pediatric trial, data review/publication | Included in overall corporate achievement; paid at 110% corporate portion for NEOs |
| Optimize molgramostim program (global technical ops) | 20% | Redundant supply chain objectives | Included in overall corporate achievement; paid at 110% corporate portion for NEOs |
| Commercial preparations (market validation, key markets) | 10% total (5% + 5%) | Validate global opportunity; prepare strategic markets | Included in overall corporate achievement; paid at 110% corporate portion for NEOs |
| Regulatory & quality (BLA prep, inspection readiness) | 15% | BLA preparation; inspection readiness | Included in overall corporate achievement; paid at 110% corporate portion for NEOs |
| Advance strategic planning | 5% | Valuation model; partnership evaluation | Included in overall corporate achievement; paid at 110% corporate portion for NEOs |
| Maintain disciplined operations | 5% | Operate within 5% of budget | Included in overall corporate achievement; paid at 110% corporate portion for NEOs |
Reference program context: corporate performance goals and payout determination disclosed for NEOs; Anne’s 2024 structure not separately disclosed .
Equity Ownership & Alignment
| As of | Shares Beneficially Owned | Ownership % of Outstanding | Within 60 Days (Options/RSUs) |
|---|---|---|---|
| Apr 8, 2024 | 467,016 | <1% of 138,176,641 | 352,625 (issuable upon exercise/vesting) |
- Insider trading policy prohibits hedging, pledging, margin purchases; requires pre-clearance and enforces blackout periods .
- Lock-up agreement: she signed a lock-up around an offering; prohibits sell/pledge/shorts/swaps during the 40-day lock-up period post-Prospectus date .
Employment Terms
| Item | Details |
|---|---|
| Executive Employment Agreement | Anne Erickson’s Executive Employment Agreement dated Aug 24, 2023 (exhibit reference) |
| Equity Plan treatment (2024 Omnibus Plan) | If awards are not assumed/replaced in a change of control, options/RSUs vest; if terminated without cause within 24 months post-COC, unvested awards vest |
| Clawback | Company clawback policy adopted to comply with SEC/Nasdaq; recovery of excess incentive-based comp upon restatements (3-year lookback) |
| Insider Trading | Quarterly blackout periods; pre-clearance required; hedging/pledging prohibited |
| Lock-up | 40-day lock-up; prohibitions include sell, short, pledges, swaps |
Compensation Structure Analysis
- Mix shift/timing: Company emphasizes equity and annual cash incentives; no perquisites >$10k for NEOs (company-wide disclosure), indicating discipline on guaranteed comp .
- Governance safeguards: 2024 Plan prohibits option repricing; no evergreen; dividends only upon vesting; director comp capped .
- Peer benchmarking: Compensation Committee uses Aon data and a tailored biotech peer group; does not benchmark to a fixed percentile .
Say‑on‑Pay & Shareholder Feedback
- 2024 say‑on‑pay approval: ~95%; 2023 approval: ~91% .
Performance & Track Record (company context during her leadership)
- 2024: Positive IMPALA‑2 top‑line; completed $100M equity financing; strengthened management team .
- Mar 2025: BLA submission for molgramostim inhalation solution; non‑dilutive debt financing up to $200M .
Compensation Committee & Governance
- Compensation Committee members: Nevan Elam (Chair), Joseph McCracken, An van Es‑Johansson .
- Responsibilities include plan administration, grants, risk assessment, retention of independent consultant (Aon) .
Risk Indicators & Red Flags
- Hedging/pledging prohibited by policy (alignment positive) .
- No related party transactions requiring disclosure since Jan 1, 2023 .
- Clawback policy in place; insider blackout/pre‑clearance controls .
- Form 4 (insider transactions) feed unavailable due to access error; no public evidence in proxies of pledging or hedging by Erickson given policy prohibitions .
Investment Implications
- Alignment: Beneficial ownership and strict prohibitions on hedging/pledging, plus lock‑up commitments, reduce misalignment and near‑term selling pressure post‑offering .
- Incentive focus: Bonus structure (75% corporate/25% individual) ties pay to clinical, regulatory, supply chain, and commercialization milestones, supporting value creation ahead of potential approval and launch .
- Retention/COC: Equity acceleration under the 2024 Plan upon unassumed awards or qualifying post‑COC terminations mitigates execution risk through transition but may increase dilution in change‑of‑control scenarios .
- Shareholder support: High say‑on‑pay approvals (95%/91%) signal investor acceptance of the pay‑for‑performance framework as the company advances to commercial readiness .