Thomas Kündig
XBiotechAbout Thomas Kündig
Thomas Kündig, M.D. (age 62) is an independent director of XBiotech Inc., appointed June 24, 2025, and currently serves on the Compensation Committee . He is Director of Dermatology at University Hospital Zurich and Full Professor of Dermatology and Allergology at the University of Zurich; his governance roles include board positions with the Swiss Society for Dermatology & Venereology and the European Dermatology Forum . The Board has affirmatively determined him to be independent under NASDAQ listing standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| University Hospital Zurich (USZ) | Director, Department of Dermatology | Not disclosed | Led clinical operations; pioneered ILIT and advanced immunodermatology research |
| University of Zurich | Full Professor of Dermatology & Allergology | Not disclosed | Academic leadership; translational research programs |
| Swiss Society for Dermatology & Venereology | Board role | Not disclosed | Professional governance experience |
| European Dermatology Forum | Board role | Not disclosed | Professional governance experience |
External Roles
| Organization | Role | Location | Notes |
|---|---|---|---|
| University Hospital Zurich (USZ) | Director, Dermatology | Zurich, Switzerland | Oversees substantial resources and patient-centered initiatives |
| University of Zurich | Full Professor | Zurich, Switzerland | Research in ILIT, cancer immunotherapy, allergen-specific mAbs |
| Swiss Society for Dermatology & Venereology | Board role | Switzerland | Sector governance |
| European Dermatology Forum | Board role | Europe | Sector governance |
| Awards | — | — | Swiss Technology Award; Georg-Friedrich Götz Prize |
Board Governance
- Independence: Determined independent under NASDAQ standards; current independent directors include Dr. Thomas Kündig .
- Committee assignments: Compensation Committee member; Compensation Committee chaired by Jan‑Paul Waldin; Peter Libby also a member .
- Other committees: Audit Committee (Waldin Chair; Rademaker; Libby) and Nominating & Corporate Governance Committee (Waldin Chair; Libby) .
- Lead Independent Director: Jan‑Paul Waldin .
- Attendance culture: The Board met four times in 2024; all directors serving in 2024 attended all Board and committee meetings .
- Board size/tenure: Kündig appointed June 24, 2025; nominated for election for the new term at the August 29, 2025 AGM .
Fixed Compensation
No specific 2025 director compensation disclosure for Dr. Kündig is provided. XBiotech’s non‑employee director compensation in 2024 consisted of cash fees and option grants under the 2015 Plan; typical amounts are shown below for context.
| Director (2024) | Cash Fees ($) | Option Awards ($) | Notes |
|---|---|---|---|
| W. Thorpe McKenzie | 90,915 | 130,595 | 37,500 options; vest at 6 months and 1 year; 10‑year term |
| Jan‑Paul Waldin | 97,185 | 130,595 | 37,500 options; same vesting |
| Peter Libby | 62,700 | 130,595 | 37,500 options; same vesting |
| Donald H. MacAdam | 87,780 | 130,595 | 37,500 options; same vesting |
Governance constraints under the 2025 Equity Incentive Plan:
- Non‑employee director annual cap: combined cash + equity ≤ $750,000 (grant‑date fair value for equity) .
- No repricing without shareholder approval; no dividends prior to vesting; clawback applies .
Performance Compensation
No director‑specific performance metrics are disclosed for Dr. Kündig. The 2025 Equity Incentive Plan permits performance share awards with objectives set by the Board (company/division/unit/individual goals), with settlement in shares or cash per award agreement . Clawback applies to all awards under Company policy and applicable listing rules .
| Plan Feature | Detail |
|---|---|
| Performance Share Awards | Board‑defined objectives; payout based on achievement; settlement in shares/cash |
| Clawback | Awards subject to Company clawback policy and applicable law |
| Director Equity Limits | ≤ $750k total value per fiscal year for non‑employee directors |
Other Directorships & Interlocks
- Public company boards: None disclosed for Dr. Kündig .
- Sector bodies: Swiss Society for Dermatology & Venereology; European Dermatology Forum .
- Interlocks/related parties: No related party transactions involving Dr. Kündig disclosed for the last two fiscal years; Company policy requires Audit Committee review/approval of any such transactions .
Expertise & Qualifications
- Clinical/scientific: Pioneering ILIT; immunodermatology; preclinical cancer immunotherapy; allergen‑specific monoclonal antibodies .
- Leadership: Department head at USZ; operational excellence; patient‑centric care initiatives .
- Governance: Board roles in dermatology professional societies; recognized by Swiss Technology Award and Georg‑Friedrich Götz Prize .
- Education: M.D., University of Zurich .
Equity Ownership
| Holder | Shares | Ownership % | Notes |
|---|---|---|---|
| Thomas Kündig (incl. family) | 300,000 | <1% | 200,000 held by Dr. Kündig; 100,000 held by his daughters |
| Shares outstanding (reference) | 30,487,731 | — | As of June 27, 2025 record date |
- Hedging/pledging: Company policy prohibits directors/officers (and household members) from hedging or pledging Company securities .
- Insider trading activity: No SEC Form 4 insider transactions for “Thomas Kündig” were identified in the 2024–2025 period in our check (insider‑trades skill run Nov 20, 2025).
Governance Assessment
-
Strengths
- Independent director with deep medical/scientific expertise aligned to XBiotech’s immunology focus .
- Committee role on Compensation with strong governance scaffolding (clawbacks; no repricing; director pay cap) under the 2025 Plan .
- Board culture evidences strong attendance; presence of Lead Independent Director and independent majorities across committees .
-
Watch‑items / potential conflicts
- External leadership at USZ and sector bodies requires ongoing monitoring for any institutional relationships; no related‑party transactions disclosed to date .
- New appointment (June 24, 2025) implies limited observable attendance/engagement history; evaluate 2025/2026 meeting participation when reported .
- Ensure compliance with insider policy (no hedging/pledging) and ownership alignment continues; current beneficial ownership is <1%, including family holdings .
-
Compensation alignment
- Director compensation structure historically mixes cash fees with time‑vested options; absence of director performance‑conditioned equity could be neutral or modestly negative for pay‑for‑performance but is common for small‑cap biopharma . The 2025 Plan enables performance‑based awards if the Board adopts them .
Overall, Dr. Kündig’s appointment enhances scientific oversight on the Board, with independence affirmed and no disclosed conflicts. Continued monitoring of committee decisions (Compensation), attendance, and any institutional ties to USZ is recommended to sustain investor confidence .