Ironwood Names Tammi Gaskins CEO; McCourt Retires After 17 Years
IRWD has more than doubled off its 52-week low of $1.43.
Summary
Ironwood promoted Chief Commercial Officer Tammi Gaskins to CEO effective January 1, 2027, with Tom McCourt retiring after 17 years and staying on the board. The 8-K details her $775,000 salary, $4 million target equity grant, and severance terms.
Key Events · Executive and Board Changes · IRWD
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Gaskins Named CEO Effective Jan 1, 2027
Board appointed Chief Commercial Officer Tammi Gaskins as CEO and a director effective January 1, 2027; she has led the LINZESS commercial turnaround and apraglutide commercial development.
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McCourt Retires After 17 Years
Tom McCourt notified the board on October 12, 2026 of his retirement as CEO effective December 31, 2026; he will remain a director and serve as a consultant at $10,000 per month.
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New CEO Pay Package Disclosed
Gaskins receives a $775,000 annual base salary, a 75% bonus target, and target grants of $2 million in RSUs (four-year vest) and $2 million in PSUs, with PSU terms to be set in 2027.
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Severance Terms Set for CEO Role
Amended severance agreement provides 18 months of base salary (24 months on a change-of-control termination), 1.5x target bonus (2.0x on change of control), and up to 18 months of COBRA.
Analysis · IRWD · Life Sciences
Ironwood is handing the CEO role to its Chief Commercial Officer, Tammi Gaskins, effective January 1, 2027, while Tom McCourt retires after five years as CEO and 17 years at the company. Gaskins ran the commercial organization that returned LINZESS to blockbuster status and has led commercial development for apraglutide, the Phase 3 GLP-2 asset in short bowel syndrome — so the succession keeps the two pillars of the thesis (LINZESS cash flow, apraglutide pipeline) under the person who has been running one of them. The filing also puts hard numbers on the transition: a $775,000 base salary, 75% bonus target, $4 million in target equity grants, and a severance package of up to 24 months of salary plus 2.0x target bonus on a change of control. McCourt staying on the board and as a $10,000-a-month consultant limits the loss of continuity. The change is planned and orderly, but it lands as the company is guiding to a strong 2026 and advancing the apraglutide confirmatory trial, so execution under new leadership is the thing to track.
How filings like this one have moved
In the 30 days to Oct 31, 2026, 32% of the 2040 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, IRWD was trading at $3.78 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $623M. The 52-week trading range was $1.43 to $5.78. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.