Intercept Pharmaceuticals releases salary data. CEO received compensation of $Jerome Durso, our Chie

Intercept Pharmaceuticals just filed its annual proxy statement, which details the salary information of its key executives. In 2021, the company's CEO made Jerome Durso, our Chief Executive Officer since January 1, 2021, has over 25 years of life sciences experience, including in operational, managerial, marketing, and sales positions. He has been with Intercept since 2017, and was previously our Chief Operating Officer. Mr. Durso’s compensation is designed to be highly aligned with creation of stockholder value.


Mr. Durso succeeds as our Chief Executive Officer our founder Dr. Pruzanski, who retired effective December 31, 2020. Dr. Pruzanski remains a consultant for the Company. The terms of his Retirement and Consulting Agreement are discussed below under “Executive Compensa tion—Retirement and Consulting Agreement..

The table is included below:





































































































CEO Compensation Highlights













Our CEO

















Jerome Durso, our Chief Executive Officer since January 1, 2021, has over 25 years of life sciences experience, including in operational, managerial, marketing, and sales positions. He has been with Intercept since 2017, and was previously our Chief Operating Officer. Mr. Durso’s compensation is designed to be highly aligned with creation of stockholder value.




Mr. Durso succeeds as our Chief Executive Officer our founder Dr. Pruzanski, who retired effective December 31, 2020. Dr. Pruzanski remains a consultant for the Company. The terms of his Retirement and Consulting Agreement are discussed below under “Executive Compensation—Retirement and Consulting Agreement.










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Market-Based Compensation.


For 2021, we determined total Chief Executive Officer compensation (including annual equity awards) with reference to the 50th percentile of the competitive market based on our compensation peer group.























Significant Performance Elements.


For 2021, we incorporated significant performance elements into our Chief Executive Officer’s annual and long-term incentive compensation arrangements, including TSR PSUs. These variable compensation elements are dependent on our achievement of corporate performance goals and on stock price performance. With effect from the date of his promotion to the role of President and Chief Executive Officer, Mr. Durso’s entire cash incentive bonus, targeted at 70% of his base salary, is based on the achievement of corporate goals.























Equity Awards Geared Towards Performance.


100% of Mr. Durso’s long-term incentive compensation for 2021 is in the form of equity awards granted under our annual equity award program. Approximately 60% of the total grant date fair value of our Chief Executive Officer’s 2021 annual equity grant was in the form of TSR PSUs, which vest based on stock performance both in absolute terms and relative to our TSR Peer Group. Another 20% was in the form of stock options, which can be exercised for value only if the stock price exceeds the strike price. The remaining 20% was granted in the form of RSUs.























Executive Leadership.


Our Chief Executive Officer leads a highly experienced executive team with years of relevant industry experience.













Stockholder Outreach













Overview.


We are committed to establishing and maintaining an open and transparent dialogue with our stockholders with respect to executive compensation and important governance matters. Each year, we engage with our stockholders to request feedback regarding our executive compensation program and other governance matters of importance to our stockholders. Stockholder feedback is then reported to our Compensation Committee and Nominating and Governance Committee and to the full Board for consideration.













Stockholder Advisory Vote on Executive Compensation.


Each year, our stockholders are provided the opportunity to cast an advisory vote on the compensation of our named executive officers (a “say-on-pay” vote), and our Compensation Committee considers the outcome of the prior year’s say-on-pay vote when making decisions relating to the compensation of our named executive officers and our executive compensation program. Our 2020 advisory say-on-pay proposal was approved by approximately 94.5% of the votes cast on the proposal. We continue to work to understand our stockholders’ perspectives concerning our executive compensation program, and remain committed to







The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

Intercept Pharmaceuticals's Chief Qual. Officer & SVP Ops. just disposed of 2,455 shares - Jan. 13, 2022
Departure of Directors or Certain - Jan. 10, 2022
Statement of changes in beneficial ownership of securities - Jan. 4, 2022
SVP of Intercept Pharmaceuticals just disposed of 2,455 shares - Jan. 4, 2022
Intercept Pharmaceuticals's Chief Human Resources Officer just disposed of 1,712 shares - Jan. 4, 2022

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