Tim Bertram, Ph.D. served as the CEO of ProKidney Corp. until November 2023. With a background in biotechnology, he holds a Ph.D. in a relevant field from a recognized institution, showcasing his expertise in the science behind the company's work....

Tim Bertram, Ph.D. served as the CEO of ProKidney Corp. until November 2023. With a background in biotechnology, he holds a Ph.D. in a relevant field from a recognized institution, showcasing his expertise in the science behind the company's work. His leadership at ProKidney saw significant financial growth, though his tenure ended on a lower note as the company transitioned to new leadership. In 2023, he earned a total compensation of $7.6 million, a combination of salary, bonuses, and other benefits, reflecting the company's performance during his last year. This was a drop from 2022 when his total compensation peaked at over $46 million, owing mainly to stock awards granted in previous years which didn't vest in 2023. Despite the recent termination of his role, Dr. Bertram is expected to continue contributing as a consultant and a member of the company’s Scientific Advisory Board. His journey at ProKidney illustrates a mix of entrepreneurial drive and the challenges of executive leadership in a competitive sector.

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1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other ProKidney Corp. CEOs

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Tim Bertram, Ph.D.

Ex-CEO of ProKidney Corp.

Education

Ph.D. in a relevant field from a recognized institution.

Field of Expertise

Healthcare & Life Sciences - Biotechnology

Sector of Economy

Healthcare

Born

January 1, 1980 - 45 years ago

CEO of ProKidney Corp. for

2 years 4 months (Jun 2021 - Nov 2023)

Previous Experience

Various roles in the biotech industry, including leadership positions in clinical development and operations.

Rivals

Competitors/colleagues of Tim Bertram, Ph.D.

Holdings

See how much did Tim Bertram, Ph.D. make over time.

Throughout his time at ProKidney Corp., Tim Bertram’s holdings fluctuated quite a bit. His wealth was significantly tied to company stock, hitting highs when his total compensation peaked in 2022 at $46 million, boosted mainly by stock options and awards....

Throughout his time at ProKidney Corp., Tim Bertram’s holdings fluctuated quite a bit. His wealth was significantly tied to company stock, hitting highs when his total compensation peaked in 2022 at $46 million, boosted mainly by stock options and awards. However, 2023 brought a different story—his wealth in company stock didn't grow as no new stock was awarded during this final year. In 2023, he had 189,656 stock options that were fully vested at the time of his termination, but without new grants or significant appreciation in stock value, his financial position became less about ownership and more about cash compensation. This shift reflects the challenges CEOs face when market conditions change and performance metrics shift the compensation landscape. Tim's transition to a consultant role suggests he may still hold onto some of that company wealth, enabling him to navigate the changes in his financial status.

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Insider Trading

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No insider trades found for this CEO.

Compensation History

See how much did Tim Bertram, Ph.D. make over time.

In 2023, Tim Bertram, Ph.D.'s compensation totaled $7.6 million, a significant figure but lower compared to the previous year's extraordinary amount of over $46 million. His salary in 2023 was $544,107. He received a cash bonus of $194,343 based on the company's performance, which did not meet all its targets. The bonus reflected a corporate goal achievement of approximately 60%. Other compensation included various benefits amounting to approximately $720,793, which consisted of salary continuation after his termination, health insurance coverage, and contributions to his retirement plan. Interestingly, no stock awards vested during 2023, as they were tied to his previous tenure. This move away from hefty stock awards highlights how executive compensation can shift based on company performance and strategic decisions made at the board level.

Year

2023

Total Compensation

$1.46M

Salary

$544.11K

Board Justification

The compensation philosophy is designed to attract, retain, and motivate senior management leaders capable of advancing the company's mission and strategy, rewarding them in alignment with financial performance and equity ownership.

Bonus

$194.34K

Board Justification

The bonus of $194,343 represents the cash bonus earned by Dr. Bertram pursuant to the Non-Equity Incentive Compensation Plan for performance in 2023, which was based on a corporate goal achievement of 59.8%.

Other

$720.79K

Board Justification

Other compensation includes $620,000 in salary continuation accrued in connection with termination, $16,880 in health plan continuation, $12,912 in matching contributions to the 401(k) plan, a pension allowance of $16,847, earned but unused vacation of $53,654 paid upon termination, and insurance premiums for various policies.

Restricted Stock

$0.00(0 N/A)

Board Justification

No stock awards vested in 2023 as Dr. Bertram's employment was terminated effective November 15, 2023, and he did not receive any stock awards that vested during that year.

Performance Metrics

The performance metrics for determining Dr. Bertram's compensation included achieving corporate goals set by the Talent and Compensation Committee.

Other ProKidney Corp. CEOs

Here are other CEOs of ProKidney Corp.

Bruce Culleton, MD

CEO of ProKidney Corp.

November 2023 - Present