Patrick Enright
About Patrick Enright
Patrick G. Enright (age 63) has served as an independent director of Zenas BioPharma since November 2022. He co-founded Longitude Capital and has been Managing Director since 2006; previously Managing Director at Pequot Ventures (2002–2007), with operating roles at Valentis, Boehringer Mannheim (Roche), and Sandoz (Novartis). He holds a B.S. in Biological Sciences from Stanford and an MBA from Wharton. Current public boards include BioAge Labs (Nasdaq: BIOA), Jazz Pharmaceuticals (Nasdaq: JAZZ), and Vera Therapeutics (Nasdaq: VERA) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Pequot Ventures (FirstMark Capital) | Managing Director (co-led life sciences investing) | 2002–2007 | Built life sciences investment practice |
| Valentis Inc. | Senior executive roles | Not disclosed | Life sciences operations experience |
| Boehringer Mannheim (Roche) | Senior executive roles | Not disclosed | Life sciences operations experience |
| Sandoz (Novartis) | Senior executive roles | Not disclosed | Life sciences operations experience |
| Aimmune Therapeutics (Nestlé acquisition) | Director | 2013–2020 | Board service at successful exit |
| Corcept Therapeutics | Director | 2008–2017 | Board service |
| Vaxcyte | Director | 2015–2020 | Board service |
External Roles
| Company | Role | Tenure | Notes |
|---|---|---|---|
| BioAge Labs, Inc. (Nasdaq: BIOA) | Director | Current | Public company directorship |
| Jazz Pharmaceuticals PLC (Nasdaq: JAZZ) | Director | Current | Public company directorship |
| Vera Therapeutics, Inc. (Nasdaq: VERA) | Director | Current | Public company directorship |
| Several private healthcare companies | Director | Current | Venture-backed boards |
Board Governance
| Governance Element | Status | Evidence |
|---|---|---|
| Independence | Independent director under Nasdaq rules; all non-CEO directors deemed independent | Board determined all directors except CEO are independent; Audit and Compensation committees fully independent |
| Committees | Audit Committee member; Compensation Committee member | Committee matrix lists Enright on Audit and Compensation (not chair) |
| Attendance | ≥75% of board/committee meetings attended in 2024 | Company states each director met ≥75% attendance; board met 6 times in 2024 |
| Meeting cadence | Board: 6 meetings (2024); Audit Committee: 5 meetings (2024) | Audit Committee met five times in 2024 ; board met six times |
| Risk oversight | Audit: accounting/financial/cyber; Comp: pay risk; Nominating: independence/conflicts | Committee responsibilities detailed |
| Executive sessions | Non-employee director executive sessions within CEO/exec evaluations (Comp Committee) | Compensation Committee charter references executive sessions |
| Lead Independent Director | Not disclosed | Fee provision exists but no individual designated in proxy |
Fixed Compensation
| Component | 2024 | 2025 (Policy Effective Jan 1) |
|---|---|---|
| Board annual cash retainer | $40,000 (policy) | $40,000 |
| Audit Committee member fee | $7,500 (policy) | $10,000 |
| Compensation Committee member fee | $5,000 (policy) | $6,000 |
| Nominating Committee member fee | $4,000 (policy) | $5,000 |
| Committee chair fees (if applicable) | Audit $15,000; Comp $10,000; Nominating $8,000 | Audit $20,000; Comp $12,000; Nominating $10,000 |
| Lead Independent Director add’l fee | $30,000 (if applicable) | $30,000 |
| Actual cash received (Enright, 2024) | $15,313 | — |
| 2024 Cash received source | $15,313 (Fees Earned or Paid in Cash) | — |
Notes:
- Cash retainer increases approved based on peer review by Alpine Rewards and Compensation Committee discussion, effective January 1, 2025 .
Performance Compensation
| Award | Grant Date | Number of Options | Exercise Price | Vesting | Outstanding at 12/31/2024 |
|---|---|---|---|---|---|
| Initial director option grant (IPO-related) | Sept 2024 | 37,000 | $17.00 | Annual vesting over 3 years | 37,000 |
| Annual director option grant (policy) | Annual (from 2024 policy) | 18,500 | Closing price on grant date | Vests on earlier of 1-year anniversary or pre-AGM date | Policy framework |
- Equity award timing protocol and pricing set at closing price; committee states no MNPI timing; non-employee directors receive awards per policy .
- No performance metrics (TSR/EBITDA/ESG) disclosed for director equity; awards are service-based per the policy .
Other Directorships & Interlocks
| Affiliation | Detail | Potential Interlock/Influence |
|---|---|---|
| Longitude Capital | Entities affiliated with Longitude Capital beneficially own 6.0% of Zenas common stock; Enright is Managing Director and co-founder | Board representative of a >5% holder; affiliation disclosed |
| Series C financing (May 2024) | Entities affiliated with Longitude purchased 11,619,057 Series C preferred; aggregate purchase price $19,999,999 | Significant pre-IPO capital participation by affiliated fund; audit/related party oversight applies |
| Director affiliations summary | Company lists Enright as a representative of Longitude Venture Partners IV, L.P. | Formal recognition of affiliation |
Expertise & Qualifications
- Venture investing and board leadership across >20 biotech companies; deep domain and operational experience in life sciences .
- Education: Stanford BS (Biological Sciences); Wharton MBA .
- Committee-relevant finance and governance oversight via Audit and Compensation membership .
Equity Ownership
| Holder | Shares Beneficially Owned | % Outstanding | Composition/Notes |
|---|---|---|---|
| Patrick Enright (aggregated with affiliated entities) | 2,501,934 | 6.0% | Shares held of record by LVPIV (1,727,404) and LPF (774,530); general partners LCPIV and LPP; Enright and Bakker as managing members; beneficial ownership disclaimed except for pecuniary interest |
| Policy Element | Status |
|---|---|
| Anti-hedging | Prohibited for directors/officers/employees |
| Anti-pledging | Prohibited; limited exception only with prior approval and demonstrated capacity |
| Trading windows/preclearance | Required, with blackout periods and preclearance protocols |
Governance Assessment
- Strengths: Independent status; dual committee membership (Audit, Compensation) enhances oversight; ≥75% attendance; robust anti-hedging/anti-pledging policy; formal Clawback Policy and independent compensation consultant (Alpine) with no conflicts identified .
- Alignment signals: High equity-to-cash mix in 2024 (option grant date fair value $479,668 vs. cash $15,313), with service-based vesting, supporting long-term alignment .
- Potential RED FLAGS/monitoring:
- Affiliation with a >5% stockholder (Longitude) and participation in the Series C financing increase related-party exposure; however, company discloses affiliations and applies Audit Committee review under its Related Person Transactions Policy .
- EGC status exempts the company from say-on-pay voting, reducing direct shareholder feedback on compensation; monitor future governance disclosures as exemptions phase out .
- Process quality: Audit Committee met five times in 2024 and issued its report; clear risk oversight delineation across committees; Nominating Committee addresses conflicts and independence annually .
Appendix Tables
Committee Assignments
| Committee | Membership |
|---|---|
| Audit Committee | Member (Enright) |
| Compensation Committee | Member (Enright) |
| Nominating & Corporate Governance | Not listed for Enright |
Director Compensation (2024 actuals)
| Metric | Amount |
|---|---|
| Fees Earned or Paid in Cash | $15,313 |
| Option Awards (grant date fair value) | $479,668 |
| Total | $494,981 |
Option Awards Outstanding (as of 12/31/2024)
| Award | Options Outstanding |
|---|---|
| Stock Options | 37,000 |
Non-Employee Director Compensation Policy (Key Terms)
| Item | 2024 Policy | 2025 Policy |
|---|---|---|
| Annual Board Cash Retainer | $40,000 | $40,000 |
| Audit Committee Member Fee | $7,500 | $10,000 |
| Compensation Committee Member Fee | $5,000 | $6,000 |
| Nominating Committee Member Fee | $4,000 | $5,000 |
| Audit Chair Fee | $15,000 | $20,000 |
| Compensation Chair Fee | $10,000 | $12,000 |
| Nominating Chair Fee | $8,000 | $10,000 |
| Lead Independent Director Fee | $30,000 | $30,000 |
| Initial Equity Grant | 37,000 options; 3-year annual vest | Same framework |
| Annual Equity Grant | 18,500 options; 1-year vest or pre-AGM | Same framework |
Beneficial Ownership Snapshot (as of 4/14/2025)
| Holder | Shares | % |
|---|---|---|
| Patrick Enright (and affiliated entities) | 2,501,934 | 6.0% |
Annual Meeting Voting (Context)
| Proposal | For | Against | Abstain | Broker Non-Votes |
|---|---|---|---|---|
| Class I Director: Leon O. Moulder, Jr. | 34,077,048 | 320,261 | 14 | 1,467,979 |
| Class I Director: Hongbo Lu, Ph.D. | 33,266,315 | 1,129,869 | 1,139 | 1,467,979 |
Related Person Transactions Policy (Oversight)
| Policy Aspect | Oversight |
|---|---|
| Review/approval of related person transactions over threshold | Audit Committee; arm’s-length assessment |
Notes on independence and affiliations: The board assessed independence including beneficial ownership and related transactions; Enright’s affiliation with Longitude is disclosed, with beneficial ownership disclaimed except for pecuniary interest and subject to Audit Committee oversight .