How Ph.D. was paid
$7.4M 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 | Stock | Options | Incentive | Other | Total |
|---|---|---|---|---|---|---|
| Kevin Koch, Ph.D.President and Chief Executive Officer | $670,000 | $1,171,625 | $5,041,621 | $462,300 | $14,000 | $7,359,546 |
| Michael P. NofiChief Financial Officer | $67,813 | $799,750 | $3,387,209 | $29,887 | — | $4,284,659 |
| Robert Blaustein, M.D., Ph.D.Former Chief Development Officer | $525,000 | $999,475 | $2,801,305 | $227,605 | $14,000 | $4,567,385 |
| R. Michael CarruthersFormer Chief Financial Officer | $465,694 | $392,707 | $1,500,845 | $214,219 | $14,000 | $2,587,465 |
| Behrad Derakhshan, Ph.D.Chief Operating Officer | $520,000 | $401,700 | $1,728,428 | $269,100 | $14,000 | $2,933,228 |
| Joanne M. Donovan, M.D., Ph.D.Chief Medical Officer | $530,358 | $376,594 | $1,620,389 | $243,965 | $14,000 | $2,785,306 |
| Alan Russell, Ph.D.Co-Founder and Chief Scientific Officer | $499,580 | $376,594 | $1,620,389 | $229,807 | $8,479 | $2,734,849 |
What changed and why
- $7.4MCEO Kevin Koch received total compensation of $7,359,546 in fiscal year 2025.
- 55%CEO base salary was increased to $670,000 and target bonus was increased from 55% to 60%.
- 115%The board approved corporate goal achievement for 2025 at 115% based on pipeline and clinical progress.
- Long-term incentives were delivered through stock options and restricted stock units vesting over four years.
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.