Jeremy Grant
Theravance BiopharmaAbout Jeremy Grant
Jeremy T. Grant (age 37) has served as an independent director of Theravance Biopharma (TBPH) since December 2023. He is a Principal at Everview Partners (joined 2025), Founder/Managing Partner of Harbor Ridge LP (since 2023), and Special Advisor to Irenic Capital Management (since 2023). He holds a B.S. in Economics (Finance) from Wharton and is a CFA charterholder; his board tenure at TBPH is ~1.5 years as of March 21, 2025, with finance/strategy credentials highlighted by prior roles at Elliott Investment Management, Oak Hill Advisors, and Credit Suisse .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Elliott Investment Management L.P. | Associate Portfolio Manager, Situational Investing | 2016–2022 | Public-market and event-driven investing expertise |
| Oak Hill Advisors, L.P. | Associate, Distressed Debt | 2012–2016 | Special situations/credit workout experience |
| Credit Suisse Group AG | Analyst, Securitized Products; Analyst, Investment Grade & High Yield Sector Strategy | 2010–2012 | Sell-side analytics and capital markets grounding |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Everview Partners, L.P. | Principal (Investment Team) | 2025–present | Private investment role; finance/strategy |
| Harbor Ridge LP | Founder & Managing Partner | 2023–present | Independent investment firm; shareholder perspective |
| Irenic Capital Management, L.P. | Special Advisor | 2023–present | Activist/shareholder engagement expertise |
| Arconic Corporation | Board Observer | 2023–present | Industrial operations insights, information flow channel |
| Acosta Inc. | Director | 2019–present | Sales/marketing agency governance |
Board Governance
- Independence: TBPH’s board determined all directors other than the CEO are independent; Grant is independent under Nasdaq rules .
- Committee assignments: Compensation Committee member (independent) alongside Broshy (Chair), Mitchell, O’Connor; 7 meetings in 2024 .
- Attendance: In 2024, no director attended fewer than 75% of board and applicable committee meetings; full board met 11 times .
- Skills matrix: Grant’s board skill coverage includes Finance & Accounting/Audit, Corporate/M&A, Risk Management, Legal/Corporate Governance, Strategic Planning, and a defined Shareholder Perspective skill .
- Strategic Review Committee: Formed in Nov 2024, composed entirely of independent directors to assess strategic alternatives; role-based fees exist (Chair $20k; Member $10k), but committee membership by individual not disclosed .
- Board leadership: Roles separated in Oct 2024; Susannah Gray elected Chair; CEO remains on board—improves independent oversight .
Fixed Compensation
| Component | Policy Rate (2024) | Jeremy Grant 2024 Actual ($) |
|---|---|---|
| Annual cash retainer | $50,000 | Included in “Fees Earned” total |
| Committee member fees | Compensation: $7,500; Audit: $10,000; Nominating: $5,000; Strategic Review: $10,000; Commercialization & Development: $5,000 | Reflected in total cash fees (role-specific membership disclosed only for Compensation) |
| Committee chair fees | Compensation: $15,000; Audit: $20,000; Nominating: $10,000; Strategic Review: $20,000; Commercial & Dev.: $10,000 | N/A for Grant in 2024 |
| Additional meeting fees | $1,500 for in-person board meetings outside U.S. | Included as applicable |
| Total fees earned (cash) | — | $69,250 |
Performance Compensation
| Equity Type | 2024 Grant Value ($) | Vesting | Change-in-Control Treatment |
|---|---|---|---|
| RSUs | $99,996 | Vest in full at earlier of 1-year anniversary or next AGM; subject to service | RSUs vest in full upon change in control or death/disability |
| Options | $124,833 | Vest monthly over earlier of 1 year or next AGM; 10-year term | Options vest in full upon change in control or death/disability; exercisable 3 years post-service (except for cause) |
| Performance Metrics in Director Compensation | Disclosure |
|---|---|
| Metrics tied to director equity or cash | None – non-employee director awards are automatic, time-based RSUs and options |
Other Directorships & Interlocks
- Irenic Cooperation Agreement: TBPH appointed Grant in Dec 2023 via a Cooperation Agreement with Irenic; extended in 2024 with voting commitments, standstill, and mutual non-disparagement. Includes an Information Sharing Agreement granting Irenic access to information before quarterly/annual announcements, with a two-day trading prohibition after cleanse .
- Major shareholders with board presence: Weiss Asset Management holds ~14.91% and has a representative director (James Kelly); potential information flow interlock among investor-affiliated directors .
- Board observer role: Grant’s observer status at Arconic represents an additional channel for industrial insights; not a TBPH related-party transaction .
Expertise & Qualifications
- Finance, capital markets, corporate/M&A, risk management, legal/governance, strategic planning, audit sophistication; explicit shareholder perspective skill .
- Education and credentials: Wharton B.S. (Finance); CFA charterholder .
- Investor engagement context: TBPH reported significant investor engagement in 2024, and governance changes (separation of Chair/CEO) aligned with shareholder feedback; relevant to Grant’s shareholder-oriented background .
Equity Ownership
| Metric | Value |
|---|---|
| Total beneficial ownership (shares) | 61,202 (includes 43,310 options exercisable within 60 days and 10,537 RSUs subject to release within 60 days) |
| Shares outstanding (Record Date) | 50,001,332 |
| Ownership as % of shares outstanding | 0.12% (61,202 / 50,001,332) |
| Vested vs. near-term release | Options exercisable within 60 days: 43,310; RSUs subject to release within 60 days: 10,537 |
| Director ownership guidelines | Required minimum = 5x annual cash retainer after five years of service; compliance measured annually. Directors without sufficient tenure are exempt from immediate compliance . |
| Hedging/derivatives policy | Prohibits transactions in publicly-traded options and hedging/monetization; approvals not intended to be granted . |
Governance Assessment
- Strengths
- Independent director; member of the Compensation Committee with well-defined charter and use of independent consultant FW Cook (no conflicts identified) .
- Strong attendance culture; board met 11 times in 2024 with all directors meeting ≥75% threshold .
- Director compensation structure balanced between cash and time-based equity; transparent vesting and change-in-control terms .
- Shareholder-aligned governance adjustments (Chair/CEO separation in 2024) and high Say-on-Pay approval (99% “For” at 2024 AGM) indicate investor confidence .
- Watch items / potential conflicts
- Appointment linked to Irenic Cooperation Agreement and active Information Sharing Agreement—while governed by confidentiality and trading blackout, privileged access for Irenic may raise perceptions of unequal information flow; Grant’s concurrent advisory role at Irenic warrants ongoing monitoring for conflicts and recusal as appropriate in sensitive matters (e.g., Strategic Review) .
- Concentrated ownership and multiple investor-affiliated directors (Irenic; Weiss Asset Management) could amplify shareholder influence in board deliberations—beneficial for alignment, but monitor for potential short-termism in strategic decisions .
RED FLAGS to monitor: Privileged information-sharing terms with a significant shareholder (Irenic) during the Cooperation Period; overlapping investor representation on the board increasing potential for coordinated pressure on strategic outcomes .