Chimerix Executives See Raises in Compensation After Positive 2016

1/27/17

By Lauren Hong, NC BIZ News

Chimerix Inc.’s executives will all see a rise in their base salary for fiscal year 2017, along with performance-based bonuses for 2016, according to a Securities and Exchange Commission filing.

Michelle Berrey, CEO and president of Chimerix, will have a 7.12 increase in base salary to $541,719 from $505,700 . She will receive a performance-based bonus of $191,041 for 2016, compared to $0 in 2015.

Chief Medical Officer Garett Nichols’ base salary increased 8.67 percent to $427, 093 from $393,000 . He received a performance-based bonus of $105,432 for 2016, compared to $100,000 in 2015.

Linda Richardson, chief commercial officer, saw a 8.67 percent increase in salary to $380,363 from $350,000. She received a bonus of $93,896, and received none in 2015.

Chief Financial Officer Timothy Trost had the greatest base salary percent increase at 11.78 percent, receiving $371,669 this year compared to $332,500 last year.

Chimerix is a pharmaceuticals company that develops antiviral drugs for DNA viruses.

According to the filing, the company’s committee determined that it had achieved it corporate goals at a 73-percent level for 2016. For the first nine months of the year, Chimerix has reported revenue of $3.7 million and a net loss of $61 million, less than the $79.2 million loss for the first nine months of 2015.

Chimerix’s stock opened at $5.20 on Jan. 27, up from close at $5.18.

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