Sundar PichaiSundar Pichai earned $164M in 2023

Frank McCormick served as a significant leader in Olema Pharmaceuticals Inc. from 2022 until October 2023. With a Doctorate of Science from the prestigious University of Cambridge, he brings a wealth of scientific knowledge to the table. His background in...

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Frank McCormick

Ex-CEO of Olema Pharmaceuticals, Inc.

Education

D.Sc. (Hon) from University of Cambridge

Field of Expertise

Other - Science

Sector of Economy

Healthcare

Born

May 1, 1958 - 66 years ago

CEO of Olema Pharmaceuticals, Inc. for

1 year 6 months (Apr 2022 - Oct 2023)

Previous Experience

Director at Olema Pharmaceuticals, Inc.

Rivals

Competitors/colleagues of Frank McCormick

Holdings

See how much did Frank McCormick make over time.

Frank McCormick has had an interesting journey with his stock holdings in Olema Pharmaceuticals. His wealth shown through insider trading peaked at $92.41 million in February 2021, a reflection of his strong confidence in the company's direction. After this peak,...

Total Stock Sold

$12.21M

BBIO

$12.21M

300,000 BBIO shares

What if they kept their stock?

If Frank McCormick didn't sell their stock, today they would have:
Extra BBIO300,000 shares worth $8.71M.
This is -28.65% and $3.50M less than what they got when they sold the stock.

Insider Trading

See recent insider trades of Frank McCormick.

BBIO

$4.21M

BBIO at $42.06/share

Dec 26, 2023

Sale

BBIO

$4.29M

BBIO at $42.90/share

Nov 13, 2020

Sale

BBIO

39,042 shares

BBIO

May 19, 2020

Received

BBIO

$3.90M

BBIO at $38.98/share

Dec 27, 2019

Sale

Compensation History

See how much did Frank McCormick make over time.

In terms of compensation, Frank McCormick earned a substantial sum while leading Olema Pharmaceuticals, with his total pay reaching approximately $3.15 million in 2022. This included a base salary of $647,000 and a significant performance bonus of $489,000, reflecting his commitment to achieving corporate objectives. Interestingly, he did not have any vested stock options or stock grants during this period, indicating a potential shift in the company’s compensation structure during his tenure. His other compensation, which included retirement contributions and life insurance benefits, totaled about $14,370. With the right balance of high-value performance bonuses and strategic input, McCormick's compensation package was designed to align his interests with those of shareholders, emphasizing performance-driven results.

Year

2022

Total Compensation

$1.15M

Salary

$647.00K

Board Justification

The compensation policies and decisions are designed to attract and retain talented executives by paying for performance and aligning compensation with stockholder interests.

Bonus

$489.00K

Board Justification

Annual performance-based cash bonuses based on the achievement of certain corporate performance objectives and individual performance during 2023.

Other

$14.37K

Board Justification

Consists of $13,200 employer matching 401(k) contributions and $1,170 life insurance premium paid as an employee benefit.

Restricted Stock

$0.00(0 N/A)

Board Justification

No specific vested stock amount provided for 2023 in the summary compensation table.

Performance Metrics

Performance-based bonuses based on corporate goals including clinical development milestones and financial objectives.