Robert More
Vir BiotechnologyAbout Robert More
Robert More (age 57) is an independent director of Vir Biotechnology and has served on the Board since September 2016. He is Managing Director at Alta Partners and brings deep venture investing and public company board experience; he is designated an “Audit Committee Financial Expert” and currently chairs Vir’s Compensation Committee, indicating strong finance and pay-governance expertise .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Alta Partners | Managing Director | 2016–present | Life sciences investing; governance oversight for portfolio companies |
| Bill & Melinda Gates Foundation | Senior Advisor; led Global Health Venture Initiative | 2013–2015 | Strategic capital deployment for global health |
| Frazier Healthcare Ventures | General Partner | 2008–2013 | Growth-stage biotech investing |
| Domain Associates | General Partner | 1996–2008 | Early-stage therapeutics and medtech investing |
External Roles
| Organization | Public/Private | Role | Tenure | Notes |
|---|---|---|---|---|
| Tyra Biosciences, Inc. | Public | Director (Chairman since 2019) | 2018–present | Oncology focus; potential industry adjacency to Vir’s oncology pivot |
| Amplitude Therapeutics, eGenesis, Kelonia Therapeutics, MBrace Therapeutics, Variant Bio | Private | Director | Current | Multiple private biotech boards |
| LiquiGlide | Private | Advisor | Current | Materials/biotech interfaces |
| Prior public boards: Achaogen; Neothetics; Glaukos; IntraLase; Sienna Biopharmaceuticals | Public | Director | Prior service (years not specified) | Broad medtech/biopharma exposure |
Board Governance
- Committee assignments: Audit Committee member (and designated “Audit Committee Financial Expert”); Compensation Committee Chair .
- Independence: The Board determined he is independent under Nasdaq rules; post-Annual Meeting, 8/9 directors are independent .
- Attendance: Board met 9 times in 2024; all directors (except Robert Nelsen) attended at least 75% of Board and committee meetings—implying More met the threshold .
- Engagement: As Compensation Committee Chair, he attended several investor meetings during the 2024–2025 engagement cycle, indicating active shareholder outreach on pay and governance .
- Structure and oversight: Independent Chair; executive sessions of independent directors; robust risk oversight via committees; multiple clawback policies; stock ownership guidelines .
Fixed Compensation
| Component (FY 2024) | Amount ($) | Detail |
|---|---|---|
| Board retainer | 50,000 | Annual cash retainer for non-employee directors |
| Audit Committee member retainer | 10,000 | Member retainer (non-chair) |
| Compensation Committee chair retainer | 15,000 | Chair retainer (inclusive of member fee) |
| Total cash fees paid | 75,000 | Reported in director compensation table |
Performance Compensation
| Item | Quantity/Detail | Valuation/Terms |
|---|---|---|
| Stock awards (FY 2024) | Grant date fair value | $83,120 |
| Option awards (FY 2024) | Grant date fair value | $124,963 |
| Annual option grant (post-2024 AGM) | 16,000 options | Exercise price $10.39; GD fair value $7.81/share |
| RSUs outstanding at YE 2024 | 8,000 RSUs | Subject to rights at year-end |
| Options outstanding at YE 2024 | 62,613 options | Outstanding as of 12/31/2024 |
| Vesting (Annual Grants) | RSUs and options vest in full at 1-year | Annual Grants vest 1-year; full vest on Change in Control |
| Vesting (Initial Grants) | Options vest 1/3 at 1-year, remainder monthly over 2 years; RSUs vest in 3 equal annual tranches | Full vest on Change in Control |
- Equity grant constraints and settlement history: In July 2024, multiple directors (including More) voluntarily forfeited portions of 2020 options per a settlement agreement; Vir subsequently capped director annual equity at $385,000 for 2025–2027 and limited new director awards to ≤2× annual grants, enhancing governance discipline .
Other Directorships & Interlocks
| Company | Relationship to VIR (supplier/customer/competitor) | Interlock Risk |
|---|---|---|
| Tyra Biosciences (Chairman) | No disclosed related-party transactions with Vir | Low; industry adjacency only |
| Prior public boards (Achaogen, Neothetics, Glaukos, IntraLase, Sienna) | No disclosed related-party transactions with Vir | Low based on disclosures |
Expertise & Qualifications
- Audit Committee Financial Expert designation, based on education and executive finance experience .
- Extensive venture and board experience across clinical-stage biotech and medtech; deep governance exposure .
- Education: B.S. Biology (Middlebury); MBA (Darden School, University of Virginia) .
Equity Ownership
| Category | Shares |
|---|---|
| Direct ownership | 38,683 |
| RSUs/options exercisable within 60 days | 70,613 |
| Indirect ownership via Alta Partners NextGen Fund I, L.P. | 495,890 |
| Total beneficial ownership | 605,186 |
| Shares outstanding (Record Date) | 138,063,698 |
- Approximate ownership percentage: 605,186 / 138,063,698 ≈ 0.44%, indicating sub-1% beneficial ownership (under 1% as denoted in the table) .
- Hedging/pledging: Company policy prohibits hedging or pledging of company stock by directors and employees .
- Ownership guidelines: Non-employee directors must hold the lesser of 3× cash retainer or 5,000 shares by June 30, 2027; options do not count (shares and vested RSUs count). Individual compliance status not disclosed .
Governance Assessment
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Strengths:
- Independent director with dual roles: Audit Committee financial expert and Compensation Committee Chair, supporting board effectiveness in financial oversight and pay governance .
- Active shareholder engagement on compensation; Compensation Committee uses an independent consultant (Semler Brossy), assessed annually for independence .
- Robust governance policies: multiple clawbacks beyond Dodd-Frank, ownership guidelines, independent chair, executive sessions, and clear risk oversight allocations .
- Attendance at or above 75% threshold; Board met 9 times, reflecting responsiveness during strategic pivot .
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Potential conflicts and mitigants:
- Alta Partners NextGen Fund I beneficially holds 495,890 Vir shares attributed to management by fund GPs (including More) but with standard disclaimers of beneficial ownership beyond pecuniary interest; no related-party transactions disclosed with entities affiliated with More in 2024–2025 .
- Dual committee workload (Audit member + Compensation Chair) requires careful time management; Board reviews other commitments for adequacy and independence annually .
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Signals affecting investor confidence:
- Director equity award settlement and subsequent policy caps reduce perceived excess and align with shareholder feedback—positive governance signal .
- 2024 say-on-pay support of ~79% indicates moderate shareholder approval of pay practices; ongoing enhancements and engagement suggest continued responsiveness .
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RED FLAGS:
- Historical need for option forfeitures tied to a settlement underscores prior concerns on director equity sizing; mitigated by 2025–2027 policy caps and clearer award structures .
- No pledging/hedging allowed; no related-party transactions disclosed—no current alignment red flags .