Gain Therapeutics has appointed Jeanette Weidner as vice president of finance, effective October 28. She will also become the biotechnology company’s principal financial officer and principal accounting officer.
Weidner brings 18 years of finance and accounting experience, including more than a decade in life sciences. Her employment package includes a $275,000 annual base salary, a target annual cash bonus and an option to buy 130,000 shares.
Key details
- Weidner most recently worked as a financial consultant to Senseonics Holdings, focusing on financial reporting and operational accounting. Before that, she was vice president of finance at OncoC4, where she built the company’s finance and accounting function as it advanced through Phase III clinical trials. She has also held controller and assistant controller roles at other life sciences companies and maintains an active CPA license.
- Her annual cash bonus target is 35% of base salary—$96,250 at the stated salary—but any bonus is subject to the board’s discretion.
- The stock option will have an exercise price equal to the fair market value of Gain Therapeutics stock on the grant date. It is scheduled to vest over four years: 25% after one year, with the remainder vesting in equal monthly installments, provided she remains employed through the applicable vesting dates. The company may also award her additional equity incentives at the board’s discretion.
- If, at least three months after her start date, the company ends her employment without cause, she leaves for good reason, or her employment ends because of death or disability, she may receive six months of base salary as severance and up to six months of health-coverage continuation costs. These benefits are subject to signing and not revoking a release of claims.
- If a qualifying termination occurs at the time of a change in control or within the following 12 months, the package instead provides 12 months of base salary, up to 12 months of health-coverage continuation costs, a prorated bonus for the year of termination based on actual performance, and a target bonus for the following 12-month period. Any unvested stock awards would also vest in full.
What changes
Weidner will take responsibility for Gain Therapeutics’ finance leadership and serve as both its principal financial officer and principal accounting officer. The disclosed package also provides for enhanced severance and full vesting of unvested stock awards if a qualifying termination follows a change in control.