How Phares was paid
$622,000 in total for fiscal Year 2024, 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 | Other | Total |
|---|---|---|---|
| Dr. Denis PharesChief Executive Officer, Interim Chief Financial Officer, President | $622,000 | — | $622,000 |
| Wade SeaburgChief Commercial Officer | $340,000 | — | $340,000 |
| Tyler BournsChief Marketing Officer | $280,000 | — | $280,000 |
| John MarchettiFormer Senior Vice President, Operations, Former Chief Financial Officer | $127,202 | $6,727 | $133,929 |
What changed and why
- $622K$622,000 was Dr. Phares’s 2024 total compensation, down from $877,333 in 2023.
- $340K$340,000 was Wade Seaburg’s 2024 total compensation, with no bonus or equity awards reported.
- $280K$280,000 was Tyler Bourns’s 2024 total compensation, with no bonus or equity awards reported.
- $1.5M$1,532,000 was Dr. Phares’s specified annual equity compensation amount under his amended employment agreement.
- $30M$510,666.67 was Dr. Phares’s contingent cash award for 2023 services, payable only after achieving a $30 million cash balance.
- April 19, 2024 was the date John Marchetti’s employment terminated, resulting in forfeiture of his RSUs and contingent cash award.
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.