DURHAM – Biopharmaceutical company Chimerix Inc. will give raises to four executive officers, including its CEO and chief medical officer, for 2018, along with bonuses for the previous year’s performance.
The salary-increases and bonuses were approved by the board of directors on the basis of improved achievement of corporate goals in 2017. Chimerix said its achieved those goals at a 90 percent level in the past year, compared to a 73 percent level of achievement in the 2016 fiscal year.
M. Michelle Berrey, CEO and president, will receive a base salary of $557,971 this year. That is a 3 percent increase on her 2017 salary of $541,719. Berrey also was given a bonus based on last year’s performance of $243,774. This is nearly a 28 percent increase in the bonus she received at the start of the 2017 fiscal year.
W. Garrett Nichols, chief medical officer, will receive a salary of $439,906, a 3 percent improvement on the $427,093 he was paid last year. Nichols was given a performance-based bonus of $147,988, which is 40 percent more than the bonus he received last year.
Linda M. Richardson, chief strategy and commercial officer, was given a new salary of $391,774 that improves on her salary last year by more than $11,000. Her end-of-year bonus came out to $119,814, an increase of 28 percent from her 2017 bonus.
Timothy W. Trost, chief financial officer and senior vice president, will receive a salary of $382,819, an improvement on the $371,669 he received in the 2017 fiscal year. Trost was given a bonus of $122,930, a 34 percent boost to the bonus he earned last year.
Chimerix develops and commercializes medicines for patients with impaired immune systems. Itsantiviral medicines are intended to reduce the risk of these patients contrasting other damaging infections, including the norovirus.
The Durham-based company’s shares closed at $4.79 on Tuesday, up slightly from the day’s opening.
This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism
