Daniel Bensen
About Daniel Bensen
Daniel Bensen, age 50, is Chief Operating Officer of Tyra Biosciences and has served in this role since November 2018 after co-founding the company with CEO Todd Harris . He holds a B.A. in Biology from Point Loma Nazarene University and an MBA from USC Marshall . Pay-for-performance indicators include a 2024 bonus paid at 137% of target based on corporate goals tied to clinical and operational milestones, and ongoing multi-year option vesting designed to align with sustained execution .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Cidara Therapeutics | Head of Immunology & Protein Chemistry | 2014–2018 | Led immunology and protein chemistry functions supporting drug R&D |
| Trius Therapeutics | Principal Scientist, Protein Chemistry & Structural Biology | 2007–2014 | Advanced protein chemistry and structural biology for anti-infective programs |
External Roles
No external board or listed roles disclosed for Bensen .
Fixed Compensation
| Component | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | 457,600 | 475,900 |
| Target Bonus (%) | 40% of base | 40% of base |
| Actual Bonus Paid ($) | 274,560 | 260,793 |
| Other Compensation ($) | 950 (phone and life insurance) | 950 (phone and life insurance) |
Notes:
- 2024 base salaries were increased effective January 1, 2024; Bensen’s rate rose 4% to $475,900 .
- 2024 corporate bonus pool paid at 137% of target based on clinical and operational milestones; Bensen’s award was $260,793 .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout ($) | Vesting/Timing |
|---|---|---|---|---|---|
| Annual corporate goals (clinical milestones & operational development) | Not disclosed | Target bonus 40% of base | 137% corporate achievement | 260,793 (paid Feb 2025) | Cash bonus; no vesting |
Equity Ownership & Alignment
| Measure | Amount |
|---|---|
| Total Beneficial Ownership (shares) | 1,097,967 |
| Ownership as % of Shares Outstanding | 2.0% |
| Directly Owned Shares | 427,981 |
| Options Exercisable within 60 days (Mar 31, 2025) | 669,986 |
| Unexercisable Options Outstanding (Dec 31, 2024) | 312,379 |
| Shares Pledged as Collateral | Prohibited by Insider Trading Policy |
| Hedging, Margin, Derivatives | Prohibited (hedging, short sales, puts/calls, margin) |
| Executive Stock Ownership Guidelines | Not disclosed |
Insider trading policy prohibits pledging, hedging, short sales, options or other derivatives, and margin accounts, reducing alignment risks from collateralization or hedging .
Equity Awards and Vesting Schedule
Outstanding equity awards (as of Dec 31, 2024):
| Grant Date | Exercisable (#) | Unexercisable (#) | Strike ($) | Expiration | Vesting Terms |
|---|---|---|---|---|---|
| 01/27/2020 | 90,129 | — | 0.61 | 01/26/2030 | Fully vested/exercisable |
| 03/10/2021 | 126,503 | 8,434 | 2.25 | 03/09/2031 | 4-year monthly from 03/05/2021 |
| 11/02/2021 (time-based) | 64,461 | 19,165 | 24.15 | 11/01/2031 | 4-year monthly |
| 11/02/2021 (performance-based) | 7,964 | — | 24.15 | 11/01/2031 | Vested upon TYRA-300 IND filing on 06/24/2022 |
| 09/06/2022 (time-based) | 59,062 | 45,938 | 7.14 | 09/05/2032 | 4-year monthly |
| 09/06/2022 (3-year monthly) | 187,149 | 62,383 | 7.14 | 09/05/2032 | 3-year monthly (completes around 09/2025) |
| 07/28/2023 | 38,958 | 71,042 | 14.35 | 07/27/2033 | 4-year monthly |
| 08/14/2024 | 9,583 | 105,417 | 21.57 | 08/13/2034 | 4-year monthly from grant date |
Key vesting dynamics that may influence supply:
- 03/10/2021 options complete vesting around March 2025 on a 4-year schedule .
- 09/06/2022 “3-year monthly” tranche completes vesting around September 2025, increasing fully vested inventory .
- 07/28/2023 and 08/14/2024 grants continue monthly vesting through 2027–2028 .
Employment Terms
| Provision | Terms |
|---|---|
| Role & Start | Chief Operating Officer since Nov 2018 |
| Severance (Outside CIC Period) | Cash lump sum equal to 12 months base salary + pro-rated target bonus for year-to-date; accelerate 50% of unvested equity; up to 12 months COBRA premiums or equivalent cash until earlier of 12 months or new employer coverage |
| Severance (Within CIC Period: 3 months pre to 18 months post) | Cash lump sum equal to 18 months base salary + then target annual bonus; accelerate 100% of unvested equity on later of termination date or CIC effective date; up to 12 months COBRA premiums or equivalent cash until earlier of 12 months or new employer coverage |
| Single-Trigger CIC Equity | Upon CIC, 50% of unvested awards accelerate immediately; remaining 50% continues vesting, with any remaining unvested portion vesting in full on first anniversary of CIC subject to continued employment |
| Restrictive Covenants | One-year post-termination non-solicitation; non-compete not disclosed |
| Clawback | Company-wide clawback policy for incentive compensation adopted Oct 2023 to recoup excess incentive pay over past 3 fiscal years in case of accounting restatement |
Compensation Structure Analysis
- Mix shift toward equity: Option grant-date fair value increased from $1,186,823 in 2023 to $1,917,556 in 2024, while cash bonus declined modestly from $274,560 to $260,793; base salary rose 4% to $475,900 .
- Performance orientation: Annual cash bonus based solely on corporate clinical/operational goals with a 137% achievement factor in 2024; no TSR/financial metrics disclosed, consistent with clinical-stage biotech priorities .
Risk Indicators & Alignment
- Alignment: 2.0% beneficial ownership including substantial vested options; ongoing monthly vesting promotes multi-year retention .
- Governance safeguards: Prohibitions on pledging/hedging/margin/derivatives and an adopted clawback policy mitigate misalignment and recovery risks .
- Change-of-control economics: Partial single-trigger acceleration (50%) at close and full acceleration on double-trigger termination in CIC period; cash severance of 18 months salary plus target bonus in CIC enhances retention through M&A transitions .
Investment Implications
- Retention risk appears contained near term given monthly vesting cadence, sizable unexercisable inventory (312K at 12/31/24), and robust CIC protections; 2021/2022 tranches completing by March/September 2025 will increase fully vested option supply and could modestly raise liquidity-related selling potential depending on market/pricing .
- Pay-for-performance is oriented to clinical execution rather than financial outcomes; the 137% bonus payout underscores progress against development milestones, and ongoing multi-year options align incentives with long-duration value creation .
- Governance and clawback structures, plus prohibitions on pledging/hedging, reduce alignment red flags; absence of disclosed executive stock ownership guidelines is a minor gap versus some peers .