ROCKVILLE, MD — The chief executive officer of Casi Pharmaceuticals saw a 71.6 percent increase in total compensation to $920,888 in 2016, according to the proxy filed with the Securities and Exchange Commission.
Dr. Ken Ren’s total compensation in 2015 was $536,750.
Ren’s base salary remained at $300,000 in 2016, the same as 2015. His total compensation for the year was drastically higher than the year prior because of $612,938 option awards he received in 2016.
Ren received his medical degree at the Shandong University School of Medicine in China in 1986 and a Ph.D. from State University of New York at Buffalo in 1990. Ren was a research fellow at Rockefeller University from 1990–1993 and was a research scientist at Pfizer from 1993–1995.
In April 2012, Ren joined the company as interim chief executive officer, and after successful completion of the one-year interim period, was appointed CEO in April 2013. He was elected to the board of directors in December 2014.
Both the chief operating officer and vice president saw slight decreases in total compensation for 2016.
Chief operation officer Cynthia Hu’s total compensation decreased to $476,274 in 2016, from $486,250 in 2015.
Vice President Sara Capitelli’s total compensation decreased to $222,191 in 2016, from $246,653 in 2015.
Casi is a biopharmaceutical company focused on the acquisition, development, and commercialization of innovative therapeutics addressing cancer and other unmet medical needs for the global market, with a focus on China and the U.S.
The company’s stock closed at $1.22 per share on Thursday, up 5 percent from the $1.16 close on Wednesday.
This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism