How Ph.D. was paid
$1.4M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.
Named executive officers
| Executive | Salary | Bonus | Options | Other | Total |
|---|---|---|---|---|---|
| Garo H. Armen, Ph.D.Chief Executive Officer | $715,260 | $429,156 | $141,000 | $64,909 | $1,350,325 |
| Steven J. O’Day, M.D.Chief Medical Officer | $594,880 | $297,440 | — | $10,500 | $902,820 |
| Christine M. KlaskinVice President, Finance | $298,224 | — | $27,257 | $6,538 | $332,019 |
What changed and why
- $1.4MGaro H. Armen received a total compensation of $1,350,325 for 2025, representing a decrease from the prior year total of $4,146,777.
- Named executive officer base salaries remained unchanged from 2024 levels.
- 125%Annual incentive bonuses for 2025 were paid in the form of time-based options in lieu of cash with a 125% multiplier.
- Long-term incentives for 2025 consisted entirely of time-vesting stock options.
- $50MOperating burn was reduced to an expected approximately $50 million.
About this page
Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.