Beth Seidenberg
About Beth Seidenberg
Beth Seidenberg, M.D., 68, has served on Vera Therapeutics’ Board since June 2016 and is currently an independent director. She is Founding Managing Director of Westlake Village BioPartners (since September 2018) and a Managing Member of certain funds advised by Kleiner Perkins (since May 2005). Previously, she was SVP, Head of Global Development and Chief Medical Officer at Amgen, and held senior R&D executive roles at Bristol Myers Squibb and Merck. She holds a B.S. from Barnard College and an M.D. from the University of Miami School of Medicine, with post-graduate training at Johns Hopkins, George Washington University, and NIH .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Amgen | SVP, Head of Global Development; Chief Medical Officer | Not disclosed | Led global development as CMO; senior executive in R&D |
| Bristol Myers Squibb | Senior executive in R&D | Not disclosed | R&D leadership |
| Merck | Senior executive in R&D | Not disclosed | R&D leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| ACELYRIN, INC. (SLRN) | Director | Since Oct 2020 | Current public company board |
| Sagimet Biosciences (SGMT) | Director | Since Apr 2007 | Current public company board |
| Kyverna Therapeutics (KYTX) | Director | Since Sep 2018 | Current public company board |
| Atara Biotherapeutics (ATRA) | Director | Aug 2012–Jun 2023 | Prior public company board |
| Progyny (PGNY) | Director | May 2010–Nov 2024 | Prior public company board |
| Kleiner Perkins | Managing Member (funds) | Since May 2005 | Venture investing focus on life sciences |
| Westlake Village BioPartners | Founding Managing Director | Since Sep 2018 | Venture capital leadership |
Board Governance
- Independence: The Board affirmatively determined Dr. Seidenberg is independent under Nasdaq rules .
- Board Chair: Michael Morrissey, Ph.D.; Chair and CEO roles are separated .
- Attendance: The Board met 5 times in 2024; each director attended at least 75% of Board and applicable committee meetings; independent directors held 5 executive sessions; five of eight directors attended the 2024 Annual Meeting .
- Committee memberships (2024): Audit Committee member; Audit met 4 times in 2024; Audit Committee members: Scott Morrison (Chair), Michael Morrissey, and Beth Seidenberg .
| Committee | Role | 2024 Meetings | Notes |
|---|---|---|---|
| Audit | Member | 4 | Committee includes Morrison (Chair), Morrissey, Seidenberg |
| Compensation | None | 4 | Not a member |
| Nominating & Corporate Governance | None | 1 | Not a member |
Fixed Compensation
| Component | Amount (2024) | Notes |
|---|---|---|
| Cash fees | $50,000 | Director received $40,000 Board retainer plus $10,000 Audit Committee member retainer in 2024 |
| Option awards (grant-date fair value) | $386,589 | Annual director option grant under policy (see Performance Compensation) |
- 2024 Non-Employee Director Compensation Policy: Annual Board retainer $40,000; Committee member retainers: Audit $10,000, Compensation $6,000 (raised to $7,500 effective 1/1/2025), Nominating $5,000; Committee chair retainers: Audit $10,000, Compensation $6,000 (raised to $7,500 effective 1/1/2025), Nominating $5,000; Board Chair retainer $30,000 (raised to $35,000 effective 1/1/2025) .
Performance Compensation
| Equity Vehicle | Grant Size Policy | Vesting | Change-in-Control Treatment |
|---|---|---|---|
| Initial option grant (new directors) | Lesser of 25,000 shares or $700,000 grant-date fair value (amended May 2, 2024) | Monthly over 3 years, subject to continuous service | 100% acceleration upon change in control, subject to continuous service through change |
| Annual option grant | Lesser of 14,000 shares or $400,000 grant-date fair value (amended May 2, 2024) | Through earlier of first anniversary of grant or next annual meeting, subject to continuous service | 100% acceleration upon change in control, subject to continuous service through change |
| Dr. Seidenberg outstanding options | 122,893 shares | As of 12/31/2024; outstanding director options count |
Other Directorships & Interlocks
| Entity | Category | Relationship/Notes |
|---|---|---|
| KPCB Holdings, Inc. (Kleiner Perkins affiliate) | Investor/rights | Party to Vera’s Second Amended and Restated Investors’ Rights Agreement (Oct 2020), along with other >5% holders and director-affiliated entities |
| Sofinnova Venture Partners X, L.P. | Investor/board ties | Director Dr. Katabi is GP; Sofinnova participated in 2024 offerings; not related to Dr. Seidenberg; included for network context |
- No specific related-party transactions disclosed involving Dr. Seidenberg beyond her association with Kleiner Perkins as an advisor to certain funds; the Board’s related-party policy requires Audit Committee or Board approval for any related-party transactions over $120,000 .
Expertise & Qualifications
- Physician with extensive life sciences operating experience (former Amgen CMO) and senior R&D roles at BMS and Merck .
- Deep venture investing background (Kleiner Perkins; Founding MD at Westlake Village BioPartners) and multiple biopharma board seats, supporting governance and clinical/commercial oversight .
- Education: B.S. Barnard; M.D. University of Miami; post-graduate training at Johns Hopkins, George Washington University, NIH .
Equity Ownership
| Item | Amount | Detail |
|---|---|---|
| Total beneficial ownership | 258,458 shares | Includes direct and indirect holdings |
| Directly held shares | 131,553 | Direct ownership |
| Trust-held shares | 4,012 | Samuel B. Seidenberg Irrevocable Trust; trustee with shared voting/dispositive power |
| Options exercisable within 60 days | 122,893 | Counted in beneficial ownership |
| Ownership as % of outstanding | <1% | Company denotes less than one percent |
| Pledging/hedging | Prohibited | Insider trading policy prohibits hedging, short sales, and pledging by directors |
Governance Assessment
- Board effectiveness: Independent director with Audit Committee service; Board met five times and each director met at least 75% attendance; independent directors held five executive sessions, signaling active governance oversight .
- Alignment: Receives standard cash retainer plus equity options; total 2024 director compensation $436,589 with a material equity component; outstanding options further align incentives with long-term shareholder value .
- Independence and conflicts: Affirmatively independent under Nasdaq rules; while affiliated with Kleiner Perkins (a party to the 2020 Investors’ Rights Agreement among legacy holders), no 2023–2024 related-party transactions were disclosed involving Dr. Seidenberg personally; related-party transactions require Audit Committee/Board review under formal policy .
- Attendance and engagement: Audit Committee met four times in 2024; her Audit membership places her in financial reporting and cybersecurity oversight, bolstering risk oversight .
- RED FLAGS: None explicitly disclosed regarding low attendance, hedging/pledging, or personal related-party transactions; no delinquent Section 16 filings cited for Dr. Seidenberg in 2024 (late filings involved other executives) .
Overall signal: Strong governance profile with independent status, meaningful committee work, and equity-linked compensation; monitor potential venture interlocks for any future related-party exposure, but current disclosures show compliance with related-party policies .