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10-K
SERES THERAPEUTICS, INC. filed this Form 10-K on 03/16/2017
Entire Document
 

Item 11. Executive Compensation

 

Executive and Director Compensation

 

Executive Compensation

 

This section discusses the material components of the executive compensation program offered to our named executive officers, or NEOs, identified below. For 2016, our NEOs were:

 

 

 

Roger J. Pomerantz, M.D., President and Chief Executive Officer;

 

 

Thomas DesRosier, Executive Vice President, Chief Legal Officer and Secretary; and

 

 

Wael Hashad, Executive Vice President and Chief Commercial Officer.

We are an “emerging growth company” as that term is used in the Jumpstart Our Business Startups Act of 2012, or JOBS Act, and have elected to comply with the reduced compensation disclosure requirements available to emerging growth companies under the JOBS Act.

2016 Summary Compensation Table

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Name and Principal Position

 

Year

 

 

Salary
($)

 

 

Option
Awards
($)(4)

 

 

Non-Equity
Incentive Plan Compensation ($)(5)

 

 

All Other
Compensation ($)

 

 

Total ($)

 

Roger J. Pomerantz, M.D.(1)

 

 

2016

 

 

 

564,500

 

 

 

3,289,572

 

 

 

225,800

 

 

 

176,835 (6)

 

 

$

4,256,707

  

President and Chief Executive Officer

 

 

2015

  

 

 

455,646

  

 

 

  

 

 

348,100

  

 

 

74,424

  

 

 

878,170

  

 

 

 

 

 

 

 

Thomas DesRosier (2)

 

 

2016

 

 

 

243,750

 

 

 

2,202,230

 

 

 

125,600

 

 

 

5,850 (7)

 

 

 

2,577,430

  

Executive Vice President, Chief
Legal Officer and Secretary

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

Wael Hashad (3)

 

 

2016

 

 

 

338,910

 

 

 

2,433,730

 

 

 

109,500

 

 

 

29,646

(8)

 

 

2,911,786

  

Executive Vice President and Chief
Commercial Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

Dr. Pomerantz also serves as Chairman of our board of directors but receives no additional compensation for this service.

(2)

Mr. DesRosier commenced employment with us on May 16, 2016.

(3)

Mr. Hashad commenced employment with us on January 4, 2016.

Represents the aggregate grant date fair value of the option awards computed in accordance with FASB ASC Topic 718. For a description of the assumptions used in valuing these awards, see Note 2 to our audited consolidated financial statements included in this Annual Report.

(5)

Represents amounts paid under our annual cash bonus program. For additional information regarding these amounts, refer to “—Narrative Disclosure to Summary Compensation Table—Annual Cash Bonuses.”

(6)

Consists of $9,000 in company matching contributions under our 401(k) plan, $100,701 in reimbursements of travel and lodging expenses associated with working in the Cambridge, Massachusetts area and $67,134 in reimbursements of taxes relating to the travel and lodging expense reimbursements. For additional information, refer to “—Employment Agreements” below.

(7)

Consists of company matching contributions under our 401(k) plan.

(8)

Consists of $7,650 in company matching contributions under our 401(k) and $13,693 in reimbursements of expenses associated with Mr. Hashad’s relocation to the Cambridge, Massachusetts area and $8,304 in reimbursements of taxes relating to the relocation expense reimbursements. For additional information, refer to “—Employment Agreements” below.

 

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