Merus Management

Management criteria checks 3/4

Merus' CEO is Bill Lundberg, appointed in Dec 2019, has a tenure of 4.33 years. total yearly compensation is $4.67M, comprised of 13.9% salary and 86.1% bonuses, including company stock and options. directly owns 0.26% of the company’s shares, worth €6.40M. The average tenure of the management team and the board of directors is 4 years and 5.7 years respectively.

Key information

Bill Lundberg

Chief executive officer

US$4.7m

Total compensation

CEO salary percentage	13.9%
CEO tenure	4.3yrs
CEO ownership	0.3%
Management average tenure	4yrs
Board average tenure	5.7yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Bill Lundberg's remuneration changed compared to Merus's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	US$5m	US$650k	-US$155m
Sep 30 2023	n/a	n/a	-US$177m
Jun 30 2023	n/a	n/a	-US$178m
Mar 31 2023	n/a	n/a	-US$152m
Dec 31 2022	US$6m	US$599k	-US$131m
Sep 30 2022	n/a	n/a	-US$64m
Jun 30 2022	n/a	n/a	-US$54m
Mar 31 2022	n/a	n/a	-US$76m
Dec 31 2021	US$8m	US$582k	-US$67m
Sep 30 2021	n/a	n/a	-US$80m
Jun 30 2021	n/a	n/a	-US$89m
Mar 31 2021	n/a	n/a	-US$79m
Dec 31 2020	US$5m	US$565k	-US$86m
Sep 30 2020	n/a	n/a	-US$83m
Jun 30 2020	n/a	n/a	-US$69m
Mar 31 2020	n/a	n/a	-US$65m
Dec 31 2019	US$162k	n/a	-US$55m

Compensation vs Market: Bill's total compensation ($USD4.67M) is above average for companies of similar size in the German market ($USD2.56M).

Compensation vs Earnings: Bill's compensation has been consistent with company performance over the past year.

CEO

Bill Lundberg (60 yo)

4.3yrs

Tenure

US$4,671,327

Compensation

Dr. Sven Ante Lundberg, also known as Bill, M.D. is Venture Advisor of Forge Life Science Partners. He serves as Chief Executive Officer, President and Executive Director of Merus N.V. since December 31, 2...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Sven Lundberg	CEO, President & Executive Director	4.3yrs	US$4.67m	0.26% $ 6.4m
Gregory Perry	Chief Financial Officer	less than a year	US$6.21m	0% $ 0
Peter Silverman	EVP, Company Secretary	6.2yrs	US$1.95m	0% $ 0
Hui Liu	Chief Business Officer	8.3yrs	US$1.69m	0.27% $ 6.6m
Andrew Joe	Chief Medical Officer & Senior VP	3.8yrs	US$1.66m	0% $ 0
Hennie Hoogenboom	Co-Founder and Scientific Advisor	no data	no data	no data
Harry Shuman	Chief Accounting Officer	no data	no data	0.012% $ 294.8k
Cornelis de Kruif	CTO & Executive VP	11.3yrs	US$609.22k	no data
Cecilia Anna Geuijen	Chief Scientific Officer & Senior VP	2.9yrs	no data	no data
Kathleen Farren	IR & Corporate Communications Officer	no data	no data	no data
Alexander Berthold Bakker	Executive VP	no data	US$647.63k	no data
Shannon Campbell	Executive VP & Chief Commercial Officer	2.2yrs	no data	no data

4.0yrs

Average Tenure

57yo

Average Age

Experienced Management: 2GH's management team is considered experienced (4 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Sven Lundberg	CEO, President & Executive Director	4.8yrs	US$4.67m	0.26% $ 6.4m
Elaine Jones	Board Observer	14.3yrs	no data	no data
Maxine Gowen	Independent Non-Executive Director	2.9yrs	US$305.06k	0% $ 0
Anand Mehra	Independent Chairman	8.7yrs	US$417.56k	0% $ 0
Paolo Pucci	Independent Non-Executive Director	3.8yrs	US$309.56k	0% $ 0
Mark Iwicki	Independent Non Executive Director	8.8yrs	US$311.06k	0.13% $ 3.1m
Antoni Ribas	Member of Scientific Advisory Board	5.7yrs	no data	no data
Victor Sandor	Independent Non-Executive Director	4.8yrs	US$292.48k	0% $ 0
Josep Tabernero	Member of Scientific Advisory Board	5.7yrs	no data	no data
Antonius Schumacher	Member of Scientific Advisory Board	5.7yrs	no data	no data
Len Kanavy	Independent Non-Executive Director	5.8yrs	US$303.56k	0% $ 0

5.7yrs

Average Tenure

60yo

Average Age

Experienced Board: 2GH's board of directors are considered experienced (5.7 years average tenure).

Merus Management

Management criteria checks 3/4

Key information

Recent management updates

Merus N.V., Annual General Meeting, May 07, 2024

Merus Appoints Greg Perry as Chief Financial Officer

Merus N.V. Announces Executive Changes

Merus N.V., Annual General Meeting, May 31, 2022

Recent updates

Merus N.V., Annual General Meeting, May 07, 2024

Merus N.V. announced that it has received $25.000035 million in funding from Gilead Sciences, Inc.

Full year 2023 earnings released: US$3.00 loss per share (vs US$2.92 loss in FY 2022)

Merus N.V. has filed a Follow-on Equity Offering in the amount of $300 million.

Third quarter 2023 earnings released: US$0.43 loss per share (vs US$0.53 loss in 3Q 2022)

Merus N.V. Announces Interim Data Continues to Demonstrate Robust and Durable Responses in NRG1+ Cancer

Second quarter 2023 earnings released: US$0.66 loss per share (vs US$0.13 loss in 2Q 2022)

U.S. Food and Drug Administration Grants Second Breakthrough Therapy Designation for zenocutuzumab (Zeno) of Merus N.V

Merus Appoints Greg Perry as Chief Financial Officer

First quarter 2023 earnings released: US$0.86 loss per share (vs US$0.43 loss in 1Q 2022)

Full year 2022 earnings released: US$2.92 loss per share (vs US$1.73 loss in FY 2021)

Merus N.V. Announces Executive Changes

Third quarter 2022 earnings released: US$0.53 loss per share (vs US$0.39 loss in 3Q 2021)

Merus N.V. Presents First in Human Data on MCLA-129 at the 34th EORTC/NCI/AACR (ENA) Symposium on Molecular Targets and Cancer Therapeutics

Second quarter 2022 earnings released: US$0.13 loss per share (vs US$0.71 loss in 2Q 2021)

Merus N.V. Presents Clinical Data on Zenocutuzumab in NRG1-Fusion Cancer at the 2022 American Society of Clinical Oncology Annual Meeting

First quarter 2022 earnings released: US$0.43 loss per share (vs US$0.28 loss in 1Q 2021)

Merus N.V., Annual General Meeting, May 31, 2022

Merus N.V. Announces Publication of Abstract on MCLA-129 At the American Association for Cancer Research 2022 Annual Meeting

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Merus N.V. Presents Updated Analysis of Zenocutuzumab, Trastuzumab, and Vinorelbine in Patients with HER2+ Metastatic Breast Cancer at San Antonio Breast Cancer Symposium

Third quarter 2021 earnings released: US$0.39 loss per share (vs US$0.79 loss in 3Q 2020)

Second quarter 2021 earnings released: US$0.71 loss per share (vs US$0.62 loss in 2Q 2020)

Forecast to breakeven in 2024

Forecast to breakeven in 2024

Forecast to breakeven in 2024

Merus N.V. Presents Clinical Data on Zenocutuzumab in Nrg1-Fusion (Nrg1+) Cancers At the American Society of Clinical Oncology (Asco) 2021 Annual Meeting

Forecast to breakeven in 2024

Forecast to breakeven in 2024

Forecast to breakeven in 2024

Forecast to breakeven in 2024

Forecast to breakeven in 2024

Merus N.V. Announces Publication of Abstract on Zenocutuzumab in NRG1-fusion (NRG1+) Cancers at the American Society of Clinical Oncology (ASCO) 2021 Annual Meeting

Forecast to breakeven in 2024

Forecast to breakeven in 2024

Forecast to breakeven in 2024

Forecast to breakeven in 2024

Merus Announces Collaborations in Israel, Italy and Spain to Increase Screening and Identification of Cancer Patients with NRG1 Fusion Tumors and to Raise Awareness of the Phase 1/2 eNRGy Clinical Trial

First quarter 2021 earnings released: US$0.28 loss per share (vs US$0.57 loss in 1Q 2020)

Merus Announces First Patient Treated in Phase 1/2 Clinical Trial of MCLA-129 in Advanced Lung Cancer and Other Solid Tumors

Full year 2020 earnings released: US$2.92 loss per share (vs US$2.28 loss in FY 2019)

Loxo Oncology at Lilly and Merus N.V. Announce Collaboration to Discover Novel T-Cell Re-Directing Bispecific Antibodies

Merus N.V. Announces Collaborations with Nationwide Medical Organizations in the Netherlands and Japan to Enhance Screening and Identification of Cancer Patients with NRG1 Fusion Tumors and to Raise Awareness of the eNRGy Clinical Trial

Merus N.V. Announces Presentation of Phase 1 Clinical Data for MCLA-158 at the American Society of Clinical Oncology (ASCO) 2021 Gastrointestinal Cancers Symposium

New 90-day high: €16.00

U.S. Food and Drug Administration Grants Merus N.V. Fast Track Designation of Zenocutuzumab for the Treatment of Patients with Neuregulin 1 Fusion Cancers

New 90-day high: €14.70

New 90-day high: €11.40

New 90-day low - €10.50

New 90-day low - €11.10

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age