How M.D. was paid
$5.1M 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 |
|---|---|---|---|---|---|---|
| John M. Leonard, M.D.President, Chief Executive Officer | $708,000 | $529,230 | $2,443,920 | $1,356,320 | $26,429 | $5,063,899 |
| Edward J. Dulac IIIExecutive Vice President, Chief Financial Officer and Treasurer | $526,000 | $270,996 | $848,184 | $466,609 | $56,716 | $2,168,505 |
| James Basta, J.D.Executive Vice President, General Counsel and Corporate Secretary | $494,000 | $227,240 | $718,800 | $395,430 | $11,127 | $1,846,597 |
| David Lebwohl, M.D.Executive Vice President, Chief Medical Officer | $536,000 | $234,232 | $776,304 | $427,061 | $11,127 | $1,984,724 |
| Birgit Schultes, Ph.D.Executive Vice President, Chief Scientific Officer | $475,000 | $207,575 | $675,672 | $371,701 | $10,135 | $1,740,083 |
What changed and why
- $5.1MCEO total compensation decreased to $5,063,899 in 2025 from $15,330,547 in 2024.
- Stock and option awards for the CEO decreased following stockholder feedback on dilution and burn rate.
- 71.1%The 2025 say-on-pay proposal received approximately 71.1% support at the annual meeting.
- 62%The company engaged in outreach to stockholders representing 62% of ownership regarding executive pay.
- $301KMedian employee compensation for 2025 was determined to be $301,044 resulting in a pay ratio of 17:1.
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.