Deepak Srivastava
About Deepak Srivastava
Deepak Srivastava, M.D., age 58 as of March 31, 2025, has served as an independent director of Tenaya Therapeutics since October 2016; he is a company co‑founder, Chair of Tenaya’s Scientific Advisory Board since October 2016, and has been a consultant to the company since September 2016. He is President of Gladstone Institutes, Robert W. and Linda Mahley Distinguished Professor, senior investigator in cardiovascular disease, and director of the Roddenberry Stem Cell Center; he is also a professor at UCSF (Pediatrics; Biochemistry & Biophysics) and a past president of the International Society for Stem Cell Research (ISSCR). He holds a B.S. from Rice University and an M.D. from the University of Texas; pediatric residency at UCSF and pediatric cardiology fellowship at Harvard Medical School .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Tenaya Therapeutics (TNYA) | Independent Director; Chair, Corporate Governance & Nominating; Member, Science & Technology; Chairman, Scientific Advisory Board; Consultant | Director since Oct 2016; SAB Chair since Oct 2016; Consultant since Sep 2016 (current) | Oversees board composition, succession, ESG disclosures; participates in R&D oversight |
| Gladstone Institutes | President; Distinguished Professor; Senior Investigator; Director, Roddenberry Stem Cell Center | President since Jan 2018 (current) | Leads biomedical research enterprise; cardiovascular and stem cell focus |
| University of California, San Francisco (UCSF) | Professor (Pediatrics; Biochemistry & Biophysics) | Since 2005 (current) | Academic leadership in pediatric developmental cardiology |
| International Society for Stem Cell Research (ISSCR) | Past President | Not specified | Sector leadership and governance experience |
External Roles
| Organization | Capacity | Notes |
|---|---|---|
| Gladstone Institutes | President; Distinguished Professor; Senior Investigator; Center Director | Ongoing leadership roles (non-profit) |
| UCSF | Professor | Ongoing academic role |
| Public company directorships | None disclosed | No other current public company boards are disclosed for Dr. Srivastava in Tenaya’s proxy . |
Board Governance
- Independence: Board determined Dr. Srivastava is independent under Nasdaq rules (8 of 9 directors independent in 2025) .
- Committee assignments (2025): Chair, Corporate Governance & Nominating; Member, Science & Technology .
- Committee meeting cadence (FY2024): Audit (4), Compensation (6), Corporate Governance & Nominating (2), Science & Technology (3) .
- Attendance: In FY2024, each director attended at least 75% of the aggregate board and assigned committee meetings; all directors attended the 2024 annual meeting .
- Tenure/class: Director since 2016; Class III continuing director with current term expiring in 2027 .
| Committee | Role | FY2024 Meetings | 2025 Composition/Notes |
|---|---|---|---|
| Corporate Governance & Nominating | Chair | 2 | Members: Srivastava (Chair), Goeddel |
| Science & Technology | Member | 3 | Members: Lee, Srivastava, Stehman‑Breen, Williams; Chair: Stehman‑Breen |
| Audit | Not a member | 4 | Members: Burroughs, Parschauer, Walsh (Chair) |
| Compensation | Not a member | 6 | Members: Lee (Chair), Williams, Walsh |
Fixed Compensation
| Year | Cash Fees ($) | Notes |
|---|---|---|
| 2024 | 128,000 | Includes $75,000 under consulting agreement with Dr. Srivastava (SAB/consulting) |
| 2023 | 120,500 | Includes $75,000 under consulting agreement; administrative overpayment of $1,017 credited to 2024 |
- Outside Director cash retainer: $40,000; committee chair/member retainers as follows—Audit Chair $15,000/Member $7,500; Compensation Chair $10,000/Member $5,000; Corporate Governance & Nominating Chair $8,000/Member $4,000; Science & Technology Chair $10,000/Member $5,000; Non‑executive Board Chair $30,000; Lead Independent Director $20,000 .
Performance Compensation
| Year | Option Awards ($) | Award Program | Vesting/Key Terms |
|---|---|---|---|
| 2024 | 50,823 | Annual non‑employee director stock option | Annual Award vests in full by first anniversary or immediately before next annual meeting; 10‑year max term; exercise price = FMV at grant; change‑in‑control full acceleration |
| 2023 | 159,889 | Annual non‑employee director stock option | Same program terms as above; Annual Award share cap 34,000; Initial Award cap 68,000 |
- Director compensation limit: Aggregate annual cash + equity value capped at $500,000 per director (equity valued at grant‑date fair value under U.S. GAAP) .
- Performance metrics: None disclosed for director equity; director options are time‑based per Outside Director Compensation Policy .
Other Directorships & Interlocks
| Item | Detail |
|---|---|
| Other public company boards (current) | None disclosed for Dr. Srivastava in Tenaya’s proxy |
| Internal interlocks | Board includes David Goeddel (Managing Partner, The Column Group), and Column Group funds were large purchasers in 2024–2025 financings; however, these are disclosed investor transactions, not attributed to Dr. Srivastava . |
| Governance safeguards | Related‑party transactions reviewed/approved by Audit Committee; formal RPT policy in place . |
Expertise & Qualifications
- Scientific leadership in cardiovascular biology and stem cells; co‑founder of Tenaya; recognized by American Academy of Arts and Sciences and National Academy of Medicine .
- Prior leadership of ISSCR; deep academic/clinical training (UCSF, Harvard) .
- 2024 proxy explicitly cites his expertise in direct in vivo reprogramming and iPS‑derived cardiomyocytes for drug discovery as Tenaya co‑founder .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Components/Notes |
|---|---|---|---|
| Deepak Srivastava, M.D. | 670,860 | <1% | Includes 372,435 shares held by The J. David Gladstone Institute (he is President) and 106,759 options exercisable within 60 days of March 31, 2025 |
| Options held (all outstanding, 12/31/2024) | 140,759 | — | Aggregate options reported as of FY2024 year‑end for Dr. Srivastava |
- Hedging/pledging: Company policy prohibits hedging, short sales, options trading, and pledging/margin accounts by directors and employees .
Insider Trades
| Year | Section 16(a) Compliance | Notes |
|---|---|---|
| 2024 | Company states all directors, officers, and >10% holders complied with Section 16(a) filing requirements | No delinquent filings reported; specific Form 4 transactions not detailed in proxy |
Related‑Party & Conflicts Review
- Consulting relationship: Dr. Srivastava received $75,000 in each of 2023 and 2024 under a consulting agreement (linked to his SAB/consulting role). Despite this, the Board deemed him independent under Nasdaq rules after considering relationships and related‑party disclosures .
- Large shareholder transactions: 2024–2025 financings involved funds affiliated with The Column Group, whose Managing Partner (David Goeddel) serves on the board; these transactions are disclosed and subject to Audit Committee oversight and RPT policy .
- No specific related‑party transactions are disclosed involving Dr. Srivastava beyond consulting fees .
Governance Assessment
-
Strengths:
- Independent status affirmed; chairs Corporate Governance & Nominating and sits on Science & Technology, aligning expertise with oversight mandates .
- Attendance threshold met in 2024; active committee cadence, including governance and R&D oversight .
- Meaningful scientific credibility and co‑founder context enhances pipeline oversight and strategy .
- Ownership alignment via options and beneficial holdings; anti‑hedging/pledging policy reduces misalignment risk .
-
Watch items / RED FLAGS:
- Ongoing consulting arrangement ($75,000 in 2024 and 2023) alongside board service poses a perceived independence/overboarding risk; mitigated by full board independence determination and disclosure, but investors should monitor scope and renewal terms .
- Board interlocks with a major investor (Column Group) through another director; while common in biotech, continued RPT oversight remains critical given 2024–2025 financings’ scale .
-
Compensation structure signals:
- Director equity shifted notably lower in 2024 versus 2023 ($50,823 vs. $159,889 in option grant‑date value), increasing cash mix via fees and consulting; may reflect market conditions and award sizing within policy caps .
-
Overall view: Srivastava brings high technical depth and governance influence (as CG&N Chair), with disclosed consulting a key independence consideration. RPT controls and committee oversight are in place; continued transparency on consulting scope and any Gladstone‑related dealings would further bolster investor confidence .