How Ph.D. was paid
$7.4M in total for fiscal 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 | Options | Incentive | Total |
|---|---|---|---|---|
| Paul A. Wagner, Ph.D.Chairman, President and Chief Executive Officer | $670,051 | $5,951,480 | $737,056 | $7,358,587 |
| Antony A. RileyChief Financial Officer | $452,109 | $2,089,487 | $180,844 | $2,722,440 |
What changed and why
- $7.4MPaul A. Wagner received total compensation of $7,358,587 in fiscal 2025, representing an increase from the prior year.
- Option awards comprised the largest portion of executive compensation following grants designed to provide retention value.
- $737KNon-equity incentive compensation of $737,056 was earned based on clinical, financial, and corporate development goals.
- Executives received larger option grants in 2025 because existing holdings lacked retention value and fell below market data.
- $700KAnnual base salaries effective January 1, 2026 were set at $700,000 for Dr. Wagner and $490,000 for Mr. Riley.
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.