Braden Parker
SavaraAbout Braden Parker
Braden Parker, age 52, is Savara’s Chief Commercial Officer (CCO) since September 2024; he previously served as CCO of Orchard Therapeutics and led first‑in‑class rare disease launches at Orchard and PTC Therapeutics. He holds an MBA from NYU Stern and a BBA from the University of Notre Dame . Context for performance: Savara is pre‑commercial (no reported revenue) with EBITDA losses widening through FY2024, while the company’s disclosed pay‑versus‑performance TSR for a $100 investment was $125 (2022), $303 (2023), and $65 (2024) . In 2025 management highlighted key execution milestones relevant to Parker’s remit: BLA submission completion for molgramostim and a non‑dilutive debt facility up to $200M to support commercial build‑out .
EBITDA (Annual)
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| EBITDA ($USD) | -$38,012,000* | -$59,133,000* | -$102,269,000* |
*Values retrieved from S&P Global.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Orchard Therapeutics | Chief Commercial Officer | Jan 2021 – Feb 2024 | Oversaw global commercial strategy and Orchard’s first product launch (Libmeldy) . |
| Orchard Therapeutics | SVP & GM, North America | Mar 2020 – Jan 2021 | Led North America operations during portfolio build‑out . |
| PTC Therapeutics | VP & GM, U.S. | Apr 2017 – Mar 2020 | Led company’s first U.S. product launch in Duchenne muscular dystrophy . |
| Celgene; NPS Pharma (acquired by Shire) | Commercial leadership roles | Not disclosed | Commercial leadership in rare disease franchises . |
External Roles
No public company board roles disclosed for Parker in Savara’s filings .
Fixed Compensation
| Item | 2025 |
|---|---|
| Target bonus ($) | $180,000 |
| Target bonus (% of base salary) | 40% |
| Base salary | Not disclosed |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Corporate performance measures | 75% | Not disclosed | Not disclosed | Not disclosed | Annual cash bonus (timing not disclosed) |
| Individual performance measures | 25% | Not disclosed | Not disclosed | Not disclosed | Annual cash bonus (timing not disclosed) |
2024 Companywide goals (design context for executive bonuses)
| Goal | Weighting | Notes | Achievement/Payout |
|---|---|---|---|
| Report IMPALA‑2 Top Line Data | 35% | Timing thresholds (June = 100%, July = 95%) | Corporate portion paid at 110% based on overall goal attainment |
| Optimize Molgramostim Program | 55% | Clinical/medical affairs (10%), global tech ops (20%), commercial preparations (10% split), regulatory/quality (15%) | Corporate portion paid at 110% |
| Advance Strategic Planning | 5% | Valuation model; strategic partnership options | Corporate portion paid at 110% |
| Maintain Disciplined Operational Management | 5% | Operate within 5% of approved budget | Corporate portion paid at 110% |
TSR ($100 initial investment)
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Total Shareholder Return ($) | $125 | $303 | $65 |
Equity Ownership & Alignment
- Pledging and margin purchases prohibited; hedging/derivative transactions prohibited under insider trading policy (alignment positive) .
Parker’s equity awards (inducement at hire)
| Award Type | Grant Date | Shares/Units | Exercise Price | Vesting Schedule | Expiration |
|---|---|---|---|---|---|
| Stock Options | Sep 25, 2024 | 170,000 | $4.15/share | 1/16th quarterly over 4 years, subject to continued employment | 10 years |
| RSUs | Sep 25, 2024 | 85,000 | N/A | 100% vest on 2‑year anniversary of first day of employment (Sep 24, 2026), subject to continued employment | N/A |
- Additional equity awards for Parker in December 2024 not disclosed in proxy tables (NEO tables cover CEO, COO, CFO only) .
Employment Terms
- Appointment: Savara appointed Parker as CCO, effective immediately (press release dated Sep 24, 2024) .
- Bonus design: For 2025, Parker’s target bonus is 40% of base salary ($180,000), with 75% corporate and 25% individual weightings .
- Change‑of‑control approach: Company does not provide single‑trigger change‑in‑control benefits (double‑trigger framework applies to NEOs; Parker’s specific contract terms not disclosed) .
- Clawback: Savara adopted a clawback policy compliant with SEC/Nasdaq to recover excess incentive‑based compensation from Section 16 officers after material restatements (3‑year lookback) .
- Hedging/Pledging: Hedging, short sales, derivatives, hypothecation/pledging, and margin purchases prohibited .
Compensation Committee & Peer Benchmarking Context
- Say‑on‑pay approval: 95% approval in 2024; 91% in 2023 .
- Peer group: Committee engaged Aon and maintained a biotech peer set, adjusting constituents in 2024 (e.g., added Apogee Therapeutics, Applied Therapeutics, Liquidia, Mineralys, Scholar Rock, Soleno) and noted it does not strictly benchmark to a fixed percentile .
Performance & Track Record Signals
- 2024 achievements underlying corporate payout: IMPALA‑2 topline, commercial readiness activities, BLA preparation, budget discipline; corporate bonus portion paid at 110% on achievement .
- Strategic execution momentum: 2025 BLA submission and entry into up to $200M non‑dilutive debt financing to fund commercialization preparations .
Investment Implications
- Near‑term selling pressure watch: RSUs granted at hire vest 100% on Sep 24, 2026, creating a defined liquidity event; monitor pre‑clearance windows and Form 4 filings around that date .
- Alignment: Quarterly‑vesting options and anti‑hedging/anti‑pledging policy support long‑term alignment; clawback framework adds downside accountability for financial‑metric‑based incentives .
- Execution risk: Pre‑commercial profile (no revenue) and increasing EBITDA losses heighten the importance of Parker’s commercial strategy, market access, and launch execution; corporate KPI weighting (75%) ties cash payouts to company milestones .
- Governance sentiment: Strong say‑on‑pay support reduces immediate compensation‑related overhang; peer‑informed, not percentile‑anchored design suggests flexibility as Savara transitions to commercialization .