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    Reshma Kewalramani

    President, CEO, and Director at Vertex Pharmaceuticals Inc
    Board
    Since April 2020
    Age
    52 years
    Education
    Earned a B.A. and M.D. from Boston University School of Medicine and completed the General Management Program at Harvard Business School.
    Tenure
    Joined Vertex in February 2017 as Senior Vice President, Late Development, was promoted to Executive Vice President and Chief Medical Officer in April 2018, and advanced to President, CEO, and Director in April 2020.

    Also at Vertex Pharmaceuticals Inc

    JML
    Jeffrey M. Leiden
    Executive Chairman
    CFWJ
    Charles F. Wagner, Jr.
    Executive Vice President and CFO
    DJM
    Duncan J. McKechnie
    Senior Vice President, Head of North America Commercial

    About

    Dr. Reshma Kewalramani holds a strong academic foundation with a B.A. and M.D. from Boston University School of Medicine, complemented by the completion of the General Management Program at Harvard Business School. She also completed her internship, residency, and fellowship at prestigious institutions including Massachusetts General Hospital and Brigham and Women’s Hospital.

    Starting her tenure at Vertex in February 2017 as Senior Vice President, Late Development, she quickly ascended the leadership ladder by assuming the roles of Executive Vice President and Chief Medical Officer in April 2018 and ultimately becoming the President, CEO, and Director in April 2020. During her time at Vertex, she has played an instrumental role in driving innovation and expanding the company’s pipeline.

    Prior to her contributions at Vertex, she built a robust career at Amgen Inc., where she held increasing roles of responsibility, culminating in senior leadership positions. Additionally, her experience as an industry representative to the FDA’s Endocrine and Metabolic Drug Advisory Committee further underscores her influence and commitment in the biotechnology sector.

    $VRTX Performance Under Reshma Kewalramani

    Past Roles

    OrganizationRoleDate RangeDetails
    Ginkgo Bioworks Holdings, Inc. Board Member September 2021 - June 2024 Former board membership.
    Vertex Pharmaceuticals Incorporated Executive Vice President and Chief Medical Officer 2018 - March 2020 Position ended upon her promotion to CEO in April 2020.
    Vertex Pharmaceuticals Incorporated Senior Vice President, Late Development 2017 - 2018 Preceded her EVP/CMO role.
    Amgen Inc. Vice President and Head of U.S. Medical Organization 2004 - 2017 Held roles of increasing responsibility culminating in her leadership role.

    Fixed Compensation

    Data from  FY 2023
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$1,500,000 Annual (2023)Fixed base salary component
    401(k) Match$14,850 As applicablePart of All Other Compensation
    Life Insurance Premiums$2,697 As applicableIncluded in All Other Compensation
    Matching Gift Program$25,000 As applicableIncluded in All Other Compensation
    Other$0 N/ANo additional fixed components reported

    Performance Compensation

    Data from  FY 2023

    Annual Cash Bonus

    The Annual Cash Bonus for 2023 is calculated based on several performance metrics and targets. Below is a detailed breakdown:

    MetricValue
    Base Salary$1,500,000
    Individual Incentive Target120% of Base Salary
    Target Bonus$1,800,000
    Company Performance Factor150%
    Individual Performance Factor150%
    Calculated Bonus Amount$4,050,000
    Payment SchedulePaid in Q1 2024 for 2023 performance

    Calculation: $1,800,000 × 150% × 150% = $4,050,000.

    Stock Awards

    Reshma Kewalramani’s stock awards for 2023 comprise both Performance Stock Units (PSUs) and Time-Based Restricted Stock Units (RSUs). The details are as follows:

    Performance Stock Units (PSUs)

    MetricDetails
    Target Shares13,486 shares
    Maximum Shares26,972 shares
    Vesting ConditionVest upon achieving performance objectives (specific thresholds not detailed)

    Time-Based Restricted Stock Units (RSUs)

    MetricDetails
    Grant DateFebruary 1, 2023
    Grant-date Fair Value$8,572,511
    Grant Date Stock PriceNot provided
    Vesting ScheduleVests annually over three years

    Additionally, Reshma Kewalramani received a performance rating of "Leading Exemplary" which coupled with the maximum individual performance factor (150%) contributed to the bonus calculation.

    These performance compensation components encompass both cash and share-based awards that are contingent upon the achievement of prescribed corporate and individual performance metrics.