How Josephs was paid
$1.1M 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 | Stock | Options | Other | Total |
|---|---|---|---|---|---|---|
| Paul JosephsPresident and Chief Executive Officer | $550,000 | $275,000 | $274,996 | — | $15,309 | $1,115,305 |
| Ryan D. LakeExecutive Vice President, Chief Financial Officer | $332,615 | $141,000 | $3,805,873 | — | $22,951 | $4,302,439 |
| Thomas D. SalusChief Legal and Administrative Officer | $44,231 | — | $3,199,120 | $854,511 | $692 | $4,098,554 |
| John D. MorbergFormer Executive Vice President, Chief Financial Officer | $130,968 | — | — | — | $625,226 | $756,194 |
What changed and why
- $1.1M$1,115,305 CEO total compensation compared with $10,247,057 in fiscal 2024.
- $275K$275,000 discretionary bonus was awarded to CEO Paul Josephs under the 2025 Bonus Plan.
- Adjusted EBITDA was the financial performance goal selected for the 2025 Bonus Plan.
- $584K$584,391 in termination compensation and benefits was included for former CFO John Morberg.
- $3.8M$3,805,873 in stock awards represented Ryan Lake’s largest fiscal 2025 compensation element.
Other Lifecore Biomedical proxy statements
- 2026 proxy statement
Paul Josephs paid $545,635 (-51% on the year), pay ratio 12:1.
Filed Apr 24, 2026
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.