How Ph.D. was paid
$2.6M 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 |
|---|---|---|---|---|---|
| Michael J.M. Hitchcock, Ph.D.Interim Chief Executive Officer and Principal Executive Officer | $486,739 | $220,076 | $1,848,576 | $14,125 | $2,569,516 |
| Rainer (Ramses) ErdtmannChief Operating Officer, President, Principal Financial Officer and Principal Accounting Officer | $489,604 | $146,881 | $1,574,199 | — | $2,210,684 |
| Thomas ButlerFormer Chief Executive Officer and Former Chairman of the Board | $148,801 | — | $513,162 | — | $661,963 |
| Juan Pablo Frias, M.D.Former Chief Medical Officer | $325,000 | — | $158,711 | $65,326 | $549,037 |
What changed and why
- Michael J.M. Hitchcock was appointed as Interim Chief Executive Officer effective March 25, 2025.
- Thomas Butler stepped down as Chief Executive Officer and was succeeded by Dr. Hitchcock.
- $2.6MDr. Hitchcock received total compensation of $2,569,516 for fiscal year 2025.
- $2.2MRainer Erdtmann received total compensation of $2,210,684 for fiscal year 2025.
- Annual bonuses were awarded based on discretionary performance assessments rather than formulaic targets.
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.