Alan Fuhrman
About Alan Fuhrman
Alan Fuhrman is Chief Financial Officer of Tyra Biosciences, serving since January 2023; he is 68 years old as of April 4, 2025 and holds B.S. degrees in business administration and agricultural economics from Montana State University; he previously practiced as a CPA with Coopers & Lybrand . Prior roles include CFO positions at Amplyx Pharmaceuticals (2017–2020), Mirna Therapeutics (2015–2017), and Ambit Biosciences (2010–2014), with public-company board experience at SpringWorks Therapeutics (audit chair), Esperion Therapeutics, Loxo Oncology (former audit chair), and interim CEO of Checkmate Pharmaceuticals (2021–2022) . He co-signs board and officer appointment 8-Ks for TYRA in his capacity as CFO, evidencing governance involvement in reporting processes . Tyra prohibits pledging and hedging of company stock; a clawback policy adopted in October 2023 requires recovery of excess incentive pay after restatements, aligning incentives with financial reporting integrity .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Amplyx Pharmaceuticals | Chief Financial Officer | 2017–2020 | Led finance through growth; retired June 2020 |
| Mirna Therapeutics | Chief Financial Officer | 2015–2017 | Public microRNA therapeutics; finance leadership |
| Ambit Biosciences | Chief Financial Officer | 2010–2014 | Oncology biotech; CFO through public-company phase |
| Checkmate Pharmaceuticals | Director; Interim President & CEO | 2019–2022 | Guided transition and leadership during interim period |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| SpringWorks Therapeutics | Director; Audit Committee Chair | Since 2019 | Financial expert oversight |
| Esperion Therapeutics | Director | Since 2020 | Board service |
| Loxo Oncology | Director; Audit Committee Chair | 2015–2019 | Governance at oncology company |
Fixed Compensation
| Year | Base Salary ($) | Target Bonus (%) | Actual Bonus Paid ($) | All Other Compensation ($) |
|---|---|---|---|---|
| 2023 | 457,600 | 40% (of base) | 274,560 | 30,933 (includes $75/month phone and life insurance; plus $5,000/month housing allowance for first six months) |
Performance Compensation
| Metric/Plan | Weighting | Target | Actual | Payout | Vesting/Timing |
|---|---|---|---|---|---|
| Annual cash bonus (Bonus Plan) | Corporate performance (clinical milestones and operational development) | Target bonus = 40% of base | Corporate goals achieved at 150% | $274,560 | Paid for FY2023 performance (awarded Feb 2024) |
| 2023 Options (Annual grant, 7/28/2023) | Equity | 62,685 options | — | Grant-date fair value in 2023: part of $2,767,712 total options | 25% vest on first anniversary; remainder in equal monthly installments; $14.35 strike; expire 7/27/2033 |
| 2023 Options (Commencement grants, 1/1/2023) | Equity | 328,000 options | — | Included in $2,767,712 total option award value | 25% vest on 1/1/2024; monthly thereafter; $7.60 strike; expire 12/31/2032 |
| 2023 Performance-conditioned options (1/1/2023) | Equity; performance conditions | 32,800 options | Conditions satisfied in 2023 (3–5 year financial plan; 12 months reporting compliance) | Included in total option award value | 25% vest on 1/1/2024; monthly thereafter; $7.60 strike; expire 12/31/2032 |
Equity Ownership & Alignment
| Metric | March 26, 2024 | March 31, 2025 |
|---|---|---|
| Shares owned directly | 2,395 | 14,087 |
| Options exercisable within 60 days | 109,333 | 260,758 |
| Ownership as % of shares outstanding | <1% | <1% |
| Hedging/Pledging | Company policy prohibits pledging and hedging; margin accounts, short sales, and derivatives also prohibited | Company policy prohibits pledging and hedging; filed as 10-K exhibit |
| Clawback policy | Adopted Oct 2023; recovery of excess incentive comp over last 3 completed fiscal years upon restatement (pre-tax) | Adopted Oct 2023; same terms |
Employment Terms
| Provision | Outside Change-in-Control Period | Within Change-in-Control Period (3 months prior to/18 months after) |
|---|---|---|
| Severance cash | 12 months current base salary + pro-rated target annual bonus | 18 months current base salary + target annual bonus |
| Equity vesting | 50% of unvested equity accelerates at termination | 100% of unvested equity accelerates on the later of termination or effective date of change in control |
| Health benefits | Company-paid/reimbursed COBRA premiums (or equivalent cash) for up to 12 months or until eligible for comparable coverage | Company-paid/reimbursed COBRA premiums (or equivalent cash) for up to 12 months or until eligible for comparable coverage |
| Change-in-control equity (at deal close) | 50% of unvested equity accelerates immediately prior to change in control; remainder continues vesting on original schedule | — |
| Restrictive covenants | One-year post-termination non-solicitation | One-year post-termination non-solicitation |
Definitions: “Cause,” “Good Reason,” “Change in Control,” “Disability,” and “Change in Control Period” as in the employment agreements; terms mirror CEO definitions in the 2021 Incentive Award Plan framework .
Investment Implications
- High equity exposure and multi-year vesting (commencement and annual option grants vesting 25% at one year, then monthly) align Fuhrman with long-term value creation but create steady incremental unlocks that can translate into regular liquidity windows; insider hedging/pledging is prohibited, reducing misalignment risk .
- Pay-for-performance: 2023 bonus paid at 150% of target tied to clinical and operational milestones suggests a results-driven framework; combined with a formal clawback policy, this strengthens compensation governance and reduces restatement-risk asymmetry .
- Retention/change-of-control economics: Double-trigger protection (18 months salary + target bonus and full acceleration) within change-of-control period is competitive but not excessive, while single-trigger 50% acceleration at deal close may modestly increase transaction-time retention risk if future employment is uncertain; overall terms are standard for emerging-growth biopharma CFOs .
- Governance and network: Ongoing audit leadership on external boards (SpringWorks) reinforces financial rigor; 8-K signatory role indicates central involvement in disclosure controls at TYRA, supporting investor confidence in reporting .