New Halozyme (NASDAQ: HALO) CFO lands $7.2M equity and cash package
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Halozyme Therapeutics has appointed Darren Snellgrove as Chief Financial Officer, effective June 8, 2026, succeeding interim CFO David Ramsay, who will move to an advisory role during a brief transition. Snellgrove brings more than 30 years of finance leadership, most recently serving as Vice President, Investor Relations and previously as CFO of Johnson & Johnson’s Pharmaceuticals sector.
His compensation includes a $670,000 annual salary, a target bonus equal to 50% of salary (prorated for 2026), and a minimum $4,000,000 long-term incentive award in 2027. Upon joining, he will receive equity awards with a total grant date value of $7,200,000, split between $3,200,000 in restricted stock units that vest over three years and $4,000,000 in stock options vesting over four years under the 2021 Stock Plan, plus a $350,000 sign-on cash bonus subject to partial repayment if he leaves or is terminated for misconduct within 24 months.
Positive
- None.
Negative
- None.
Insights
Halozyme installs a seasoned J&J finance leader as permanent CFO with a sizable but structured pay package.
The appointment of Darren Snellgrove as CFO gives Halozyme an executive with extensive large-cap healthcare experience, including leading finances for Johnson & Johnson’s Pharmaceuticals business. This strengthens the senior team after a period with an interim CFO and aligns with the company’s growth ambitions.
The compensation structure combines salary, an annual bonus target, time-vested RSUs and stock options. The $3.2M RSU grant is framed as make-whole, while the $4.0M options and future long-term incentives align potential upside with share price performance, consistent with a pay-for-performance philosophy.
The $350,000 sign-on cash bonus includes a 24-month clawback if he departs voluntarily or for misconduct, which adds some protection for shareholders. Overall, this is a standard large-company executive package, with impact on the investment thesis depending on how effectively Snellgrove executes his finance, capital allocation and investor relations responsibilities over time.
8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
CFO base salary: $670,000 per year
Target bonus: 50% of base salary
New-hire equity total: $7,200,000
+5 more
8 metrics
CFO base salary
$670,000 per year
Annual salary for Darren Snellgrove as Halozyme CFO
Target bonus
50% of base salary
Executive incentive bonus target, prorated in 2026
New-hire equity total
$7,200,000
Total grant date value of initial equity awards upon joining
Make-whole RSUs
$3,200,000
Restricted stock units to offset forfeited J&J equity, vesting over 3 years
Stock options grant
$4,000,000
New-hire stock options vesting over 4 years under 2021 Stock Plan
2027 long-term incentive minimum
$4,000,000
Minimum total grant date value of 2027 long-term incentive award
Sign-on cash bonus
$350,000
Sign-on bonus subject to prorated clawback within 24 months
CFO effective date
June 8, 2026
Start date for Darren Snellgrove as Halozyme CFO
Key Terms
restricted stock units, stock options, make-whole equity grant, pay-for-performance philosophy, +2 more
6 terms
restricted stock units financial
"This includes $3,200,000 in restricted stock units (“RSUs”), which is intended to make Mr. Snellgrove whole..."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
stock options financial
"It also includes $4,000,000 in stock options that will vest 25% after one year and then in equal monthly installments..."
Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.
make-whole equity grant financial
"the Compensation Committee provided the make-whole equity grant in RSUs ($3.2 million), while the balance..."
pay-for-performance philosophy financial
"stock options, which will deliver no value to Mr. Snellgrove absent an increase in our share price..., in line with the Company’s pay-for-performance philosophy."
long-term incentive awards financial
"Beginning in 2027, Mr. Snellgrove will be eligible to receive long-term incentive awards in accordance with the Compensation Committee’s equity award grant practices..."
forward-looking statements regulatory
"This press release may include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995..."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________________________________
FORM 8-K
_____________________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
| Date of Report (Date of Earliest Event Reported): | ||||||||
(Exact name of registrant as specified in its charter)
________________________
Commission File Number 001-32335
| (State or other jurisdiction of incorporation) | (I.R.S. Employer Identification No.) | |||||||
| (Zip Code) | ||||||||
| (Address of principal executive offices) | ||||||||
(858 ) 794-8889
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(c) On April 30, 2026, Halozyme Therapeutics, Inc. (the “Company”) announced that Darren Snellgrove has been appointed to serve as the Company’s Chief Financial Officer (“CFO”), effective June 8, 2026. Since May 2025, Mr. Snellgrove (age 52) has served as Vice President, Investor Relations at Johnson & Johnson, a multinational pharmaceutical, biotechnology and medical technologies corporation (“J&J”). From August 2021 to May 2025, he served as the CFO of J&J’s Pharmaceutical sector. Previously he served in other finance leadership positions at J&J, including as CFO, VP Finance and Operations Pharmaceutical R&D from 2017 to August 2021, and as CFO, J&J Innovation from 2013 to 2017. Prior to 2013, Mr. Snellgrove served in other positions of increasing responsibility at J&J, including serving as CFO, Janssen Alzheimer Immunotherapy. Mr. Snellgrove holds a B.A. Honors Degree in Economics and Philosophy from Southampton University, England and an M.B.A. from Villanova University. Effective as of June 8, 2026, David Ramsay, the Company’s current Interim CFO, will assume an advisory role with the Company to assist during a brief transition period.
In his role as CFO, Mr. Snellgrove will be paid an annual salary of $670,000 and he will be eligible to participate in the Company’s executive officer incentive plans, with a bonus target equal to 50% of his base salary, which will be prorated in 2026. Beginning in 2027, Mr. Snellgrove will be eligible to receive long-term incentive awards in accordance with the Compensation Committee’s equity award grant practices for the Company’s executive officers. Mr. Snellgrove’s 2027 long-term incentive award will have a minimum total grant date value of $4,000,000.
Upon joining the Company, Mr. Snellgrove will receive equity awards with a total grant date value of $7,200,000. This includes $3,200,000 in restricted stock units (“RSUs”), which is intended to make Mr. Snellgrove whole for equity value forfeited in connection with his acceptance of employment at Halozyme following 27 years of service at J&J, and vests one-third on each of the first three anniversaries of the date of grant. It also includes $4,000,000 in stock options that will vest 25% after one year and then in equal monthly installments over the next three years in accordance with the Company’s standard equity award practices for the Company’s executive officers. The equity award will be granted under, and be subject to the terms and conditions of, the Company’s 2021 Stock Plan. As is customary and prevalent competitive practice when hiring an experienced executive of Mr. Snellgrove’s caliber, the Compensation Committee provided the make-whole equity grant in RSUs ($3.2 million), while the balance of his new-hire equity awards was provided in stock options, which will deliver no value to Mr. Snellgrove absent an increase in our share price following his start date, in line with the Company’s pay-for-performance philosophy.
Additionally, a sign-on cash bonus of $350,000 will be provided to Mr. Snellgrove upon joining the Company to make him whole for forgone cash compensation at his former employer. A prorated portion of the sign-on cash bonus is subject to repayment if, within 24 months of hire, Mr. Snellgrove voluntarily terminates his employment or is terminated for misconduct.
There are no family relationships between Mr. Snellgrove and any director, executive officer or person nominated or chosen by the Company to become a director or executive officer. Mr. Snellgrove does not have a direct or indirect material interest in any transaction or arrangement in which the Company is a participant.
On April 30, 2026, the Company issued a press release announcing the appointment of Mr. Snellgrove as CFO. A copy of the press release is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
Exhibits
| Exhibit No. | Description | |||||||
99.1 | Press Release of Halozyme Therapeutics, Inc. dated April 30, 2026 | |||||||
| 104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Halozyme Therapeutics, Inc. (Registrant) | |||||||||||||||||
Dated: | April 30, 2026 | By: | /s/ Mark Snyder | ||||||||||||||
| Mark Snyder | |||||||||||||||||
| Senior Vice President, General Counsel and Corporate Secretary | |||||||||||||||||
Exhibit 99.1
Halozyme Appoints Darren Snellgrove as Chief Financial Officer
SAN DIEGO, April 30, 2026 -- Halozyme Therapeutics, Inc. (NASDAQ: HALO) (“Halozyme” or the “Company”) today announced the appointment of Darren Snellgrove as Chief Financial Officer (CFO), effective June 8, 2026.
Mr. Snellgrove will be responsible for leading Halozyme’s financial operations and strategy, including capital allocation, corporate development and investor relations. Darren will report to Helen Torley, President and Chief Executive Officer.
“I am delighted to have a financial leader of Darren’s experience and caliber join Halozyme at this exciting time. He is a highly respected finance leader with deep experience and an expansive skillset, demonstrated by successful leadership across major portfolio investments and a strong, well-established record of investor engagement,” said Dr. Helen Torley, President and Chief Executive Officer of Halozyme. “I look forward to having Darren join our leadership team and contribute to the acceleration of value creation for our shareholders.”
Mr. Snellgrove brings more than 30 years of exceptional financial leadership, strategic insight, and operational excellence across the biopharmaceutical and medtech sectors. Most recently, he led investor relations at Johnson & Johnson, a Fortune 50 healthcare company. In that role, he reshaped corporate messaging and investor engagement strategies, strengthened analyst and shareholder relationships, and supported strong market performance.
Previously, Mr. Snellgrove served as Chief Financial Officer of Johnson & Johnson’s Pharmaceuticals sector, where he provided global financial leadership for a business generating more than $50 billion in annual revenue. During his tenure, he delivered impressive financial results, leading large global teams across commercial operations, R&D, supply chain, and business development, and played a central role in major portfolio investments, restructuring initiatives, and business development transactions.
Earlier in his career, Mr. Snellgrove held CFO and senior finance leadership roles across pharmaceutical R&D, innovation, and M&A at Johnson & Johnson, as well as progressive finance roles at Centocor prior to its acquisition.
“I am thrilled to join Halozyme at such an important time in the Company’s evolution,” said Mr. Snellgrove. “Halozyme’s technology has dramatically improved the delivery of biologics for patients, and the company has built a broad technology portfolio with strong partners, durable
royalty streams, and significant long‑term opportunity. I look forward to working with Helen and the entire team to drive sustainable growth and value creation for shareholders.”
Mr. Snellgrove holds an MBA from Villanova University and a BA Honors degree from the University of Southampton in England.
About Halozyme
Halozyme is a biopharmaceutical company advancing disruptive solutions to improve patient experiences and outcomes for emerging and established therapies. As the innovators of ENHANZE® drug delivery technology with the proprietary enzyme rHuPH20, Halozyme’s commercially-validated solution facilitates the subcutaneous delivery of injected drugs and fluids, reducing treatment burden and improving convenience. ENHANZE® has touched more than one million patient lives through ten commercialized products across over 100 global markets and is licensed to leading pharmaceutical and biotechnology companies including Roche, Takeda, Pfizer, Janssen, AbbVie, Eli Lilly, Bristol-Myers Squibb, argenx, ViiV Healthcare, Chugai Pharmaceutical, Acumen Pharmaceuticals, Merus N.V. and Skye Bioscience.
Halozyme expanded its drug delivery technology portfolio to develop partner products using Hypercon™ and Surf Bio’s hyperconcentration technology. Hypercon™ is an innovative microparticle technology expected to set a new standard in hyperconcentration of drugs and biologics by reducing injection volume for the same dosage and enabling administration in at‑home and healthcare‑provider settings. The addition of Surf Bio’s polymer‑based hyperconcentration technology further broadens the range of biologics that can be delivered subcutaneously, meaningfully expanding the scope of opportunities across therapeutic modalities. Together, Hypercon™ and Surf Bio’s technology complement ENHANZE® by enabling creation and delivery of highly concentrated biologics. The Hypercon™ technology has been licensed to leading biopharmaceutical partners, including Janssen, Eli Lilly, argenx and Vertex Pharmaceuticals.
Halozyme also develops, manufactures and commercializes drug-device combination products using advanced auto-injector technologies designed to improve convenience, reliability and tolerability, enhancing patient comfort and adherence. The Company has two proprietary commercial products, Hylenex® and XYOSTED®, partnered commercial products and ongoing development programs with Teva Pharmaceuticals and McDermott Laboratories Limited, an affiliate of Viatris Inc.
Halozyme is headquartered in San Diego, CA, with offices in Ewing, NJ; Minnetonka, MN; and Boston, MA. Minnetonka is also the site of its operations facility.
For more information, visit www.halozyme.com and connect with us on LinkedIn.
Forward-Looking Statements
This press release may include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts and may include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and expectations with respect to future financial results, events, operations, services, product development and potential and statements regarding Halozyme’s future performance, durability of revenues, shareholder value creation and growth of Halozyme's business. Forward-looking statements are generally identified by the words "expects", "anticipates", "believes", "intends", "estimates", "plans", "will be" and similar expressions. Although Halozyme believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Halozyme, that could cause actual results and developments to differ materially from those expressed in the forward-looking information and statements. Actual results could differ materially from the expectations contained in these forward-looking statements as a result of several factors, including unexpected levels of revenues, expenditures, costs and growth. These and other factors that may result in differences are discussed in greater detail in the Company's most recently filed Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission, including under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”. Halozyme undertakes no obligation to update or revise any forward-looking statements or any other information contained herein.
Contacts:
Tram Bui
VP, Investor Relations and Corporate Communications
609-333-7668
tbui@halozyme.com
Sydney Charlton
Teneo
917-972-8407
sydney.charlton@teneo.com
FAQ
What executive change did Halozyme (HALO) announce in this 8-K filing?
Halozyme appointed Darren Snellgrove as its new Chief Financial Officer, effective June 8, 2026. He replaces interim CFO David Ramsay, who will move into an advisory role to support a short transition, bringing stability and deep large-cap healthcare finance experience to the leadership team.
What is the new Halozyme CFO Darren Snellgrove’s compensation package?
Darren Snellgrove will receive a $670,000 annual salary and a target bonus equal to 50% of salary. He also gets $7.2 million in initial equity, a $4.0 million minimum 2027 long-term incentive award, and a $350,000 sign-on cash bonus with partial clawback provisions.
How is the $7.2 million Halozyme equity grant to the new CFO structured?
The $7.2 million equity grant includes $3.2 million in restricted stock units and $4.0 million in stock options. RSUs vest one-third annually over three years, while options vest 25% after one year and then monthly over the next three years under Halozyme’s 2021 Stock Plan.
Why did Halozyme provide a $3.2 million RSU grant to Darren Snellgrove?
The $3.2 million restricted stock unit grant is intended to make Darren Snellgrove whole for equity value forfeited by leaving Johnson & Johnson after 27 years. It is part of a competitive executive hire package and vests over three years to encourage retention and alignment.
What conditions apply to the $350,000 sign-on cash bonus for Halozyme’s new CFO?
The $350,000 sign-on cash bonus is meant to offset forgone cash compensation from his prior employer. A prorated portion must be repaid if he voluntarily resigns or is terminated for misconduct within 24 months of hire, providing Halozyme with some downside protection on the cash award.
What is Halozyme’s long-term incentive plan for its new CFO starting in 2027?
Beginning in 2027, Darren Snellgrove will be eligible for long-term incentive awards under Halozyme’s executive equity practices. His 2027 award will have a minimum total grant date value of $4,000,000, reinforcing the company’s pay-for-performance approach tied to long-term shareholder value.