Alnylam Pharmaceuticals issued a proxy filing ahead of its May 18, 2022, Annual Meeting of Stockholders to inform stockholders of several items they can vote on at the end of the meeting.
Alnylam CEO Yvonne Greenstreet, Courtesy of Alnylam Pharmaceuticals
Alnylam Pharmaceuticals issued a proxy filing ahead of its May 18, 2022, Annual Meeting of Stockholders. The filing is to inform stockholders of several items they can vote on at the end of the meeting, including re-electing three members to the board of directors deciding on the company’s amended and restated 2018 Stock Incentive Plan and choosing the compensation of their named executive officers.
In terms of the executive compensation, John Maraganore, Ph.D., who retired as CEO at the end of 2021, received $10.18 million in total compensation last year, which was a 30% rise from the previous year, largely thanks to $2.12 million in stock options.
Yvonne Greenstreet is Maraganore’s replacement, and her compensation for 2021 was $8.58 million, approximately three times what she made the year before, largely due to stock options. Her equity awards for 2020 were $1.7 million, which rocketed to $7.34 million in 2021. Nonetheless, cash bonuses for both dropped about 1.3% from 2020 to 2021, to $1.1 million for Maraganore and $429,000 for Greenstreet.
On April 5, board member Dr. Steven Paul, M.D. announced his retirement effective April 16. He has been on the board since September 2010.
“For more than a decade, Steve has played an instrumental role on our Board of Directors, and has helped guide our transformation into a multi-product, global commercial company,” Greenstreet stated. “Steve’s contributions to Alnylam have been significant and meaningful. His extensive knowledge and experience in all facets of drug development have been invaluable to enable the company to launch three products in the past three years and develop a rich and sustainable product engine for future growth.”
The board has nominated three Class III directors that stockholders will be able to vote on. They are Dr. Margaret A. Hamburg, MD, Colleen F. Reitan, and Amy W. Schulman. All three are currently serving as Class III directors.
Hamburg currently serves as interim vice president, global biological policy and programs at the Nuclear Threat Initiative and chair of the Commonwealth Fund Commission on a National Public Health System.
Reitan was president of plan operations for Health Care Service Corporation, the largest customer-owned health insurer in the U.S., from October 2015 to April 2018.
Schulman is a managing partner at venture capital firm Polaris Partners, as well as chair of the board of SQZ Biotech, executive chair of Lyndra Therapeutics, and manages the LS Polaris Innovation Fund.
Earlier this week, Alnylam announced the Food and Drug Administration had added three months to its timeline for its New Drug Application (NDA) for vutrisiran for transthyretin-mediated (ATTR) amyloidosis. This is related to additional information about a secondary packaging and labeling facility. The inspection issues were not related to the drug. The company has identified a new facility to pack and label vutrisiran and submitted an amendment to the FDA. The new PDUFA date is July 14, 2022. No new clinical data was requested.
The drug is also under review in Europe, Brazil and Japan.
“We are committed to working with the FDA and the new facility to bring this important treatment option as quickly as possible to patients living with the polyneuropathy of hATTR amyloidosis, an inherited, progressively debilitating, and fatal disease,” stated Dr. Pushkal Garg, M.D., chief medical officer and executive vice president, development and medical affairs at Alnylam. “We are confident in our regulatory application and the body of data supporting the efficacy and safety of vutrisiran.”
