Moderna (MRNA) executive compensation, 2026 proxy

Stéphane Bancel, Chief Executive Officer, was paid $19.9M in 2025, flat from $19.9M the year before. The CEO-to-median-employee pay ratio was 89:1, on median employee pay of $225,053.

Filed
March 16, 2026
Annual meeting
May 6, 2026
Pay year
2025
Named executives
4
CEO total pay
$19.9Mflat vs prior year
CEO to median employee
89:1median $225,053
CEO pay in equity
69%$13.8M in awards
Prior say-on-pay support
77%of votes cast
Total Revenue
$1.9BFell short of internal targets
Bonus Multiplier
170%Uniform overall bonus multiplier
Say-on-Pay Support
77%Prior year shareholder support
Cost Reduction
$2.0BReduced cash costs by over 30%

How Bancel was paid

$19.9M 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.

Salary8%Stock awards35%Option awards35%Non-equity incentive22%All other compensation1%

Named executive officers

ExecutiveTotal
Stéphane BancelChief Executive Officer$19,932,217
James MockChief Financial Officer$5,857,761
Stephen Hoge, M.D.President$18,054,133
Shannon Thyme KlingerChief Legal Officer and Corporate Secretary$5,397,914

What changed and why

  • $19.9MCEO total compensation was $19,932,217 in fiscal year 2025.
  • 170%Bonus payout multiplier was set at 170% for all named executive officers based on performance.
  • $2.0BCash costs were reduced by approximately $2.0 billion, exceeding internal targets.
  • $1.9BTotal revenue reached $1.9 billion for the year 2025.
  • No retention or special equity awards were granted to named executive officers in 2025.

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.