Average | Average | Value of Initial | ||||||||||
Summary | Compensation | Fixed $100 | ||||||||||
Summary | Compensation | Actually | Investment | |||||||||
Compensation | Compensation | Table Total for | Paid to | Based on Total | Net | |||||||
Table Total for | Actually | Non-PEO | Non-PEO | Shareholder | Income (Loss) | |||||||
PEO | Paid to PEO | NEOs | NEOs | Return | (thousands) | |||||||
Year | | ($) | | ($)(1)(2) | | ($) | | ($)(1)(2) | | ($)(3) | | ($) |
2025 |
| 1,344,284 | (1,214,123) | 717,865 | 162,616 | 69.30 | 53,380 | |||||
2024 | 4,536,157 | 5,085,866 | 1,703,558 | 1,797,913 | 173.15 | (53,949) |
| (1) | Amounts represent compensation actually paid to C. Randal Mills, Ph.D., our PEO, and the average compensation actually paid to our non-PEO NEOs for each of the relevant years, as determined under Securities Exchange Commission rules (and described below). Our non-PEO NEOs for 2025 and 2024 were Matthew Ferguson and Michelle Williams, Ph.D. |
Compensation actually paid to our NEOs represents the “Total” compensation reported in the Summary Compensation Table for the applicable fiscal year, as adjusted as follows:
2025 | 2024 | ||||||||
Average | Average | ||||||||
Non-PEO | Non-PEO | ||||||||
PEO | NEOs | PEO | NEOs | ||||||
Adjustments | | ($) | | ($) | | ($) | | ($) | |
Summary Compensation Table - Total Compensation Reported |
| 1,344,284 | 717,865 | 4,536,157 | 1,703,558 | ||||
Deduction for Amounts Reported under the "Stock Awards" and "Option Awards" Columns in the Summary Compensation Table | - | - | (3,928,529) | (1,330,955) | |||||
Increase based on ASC 718 Fair Value of Awards Granted during Applicable Year that Remain Unvested, determined as of applicable year-end | - | - | 2,467,353 | 744,575 | |||||
Increase/deduction for Awards Granted during Prior Year that were Outstanding and Unvested as of Applicable Year-end, determined based on change in ASC 718 Fair Value from Prior Year-end to Applicable Year-end | (2,035,934) | (322,513) | 402,314 | 36,513 | |||||
Increase based on ASC 718 Fair Value of Awards Granted during Applicable Year that Vested during Applicable Year, determined as of Vesting Date | - | - | 1,514,728 | 609,469 | |||||
Increase/deduction for Awards Granted during Prior Year that Vested during Applicable Year, determined based on change in ASC 718 Fair Value from Prior Year-end to Vesting Date | (522,473) | (232,736) | 93,843 | 34,754 | |||||
Compensation Actually Paid | (1,214,123) | 162,616 | 5,085,866 | 1,797,913 | |||||
| (2) | Fair value or change in fair value, as applicable, of equity awards in the “Compensation Actually Paid” columns was determined by reference to a Black Scholes value as of the applicable year-end or vesting date(s), determined based on the same methodology as used to determine grant date fair value but using the closing stock price on the applicable revaluation date as the current market price and with an expected life calculated as of the revaluation date, and in all cases based on volatility and risk free rates determined as of the revaluation date based on the expected life period and based on an expected dividend rate of 0%. For additional information on the assumptions used to calculate the valuation of the awards, see the Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2025 and prior years. |
| (3) | Assumes $100 was invested for the period starting December 31, 2023, through the end of the listed year. Historical stock performance is not necessarily indicative of future stock performance. |
| (1) | Amounts represent compensation actually paid to C. Randal Mills, Ph.D., our PEO, and the average compensation actually paid to our non-PEO NEOs for each of the relevant years, as determined under Securities Exchange Commission rules (and described below). Our non-PEO NEOs for 2025 and 2024 were Matthew Ferguson and Michelle Williams, Ph.D. |
2025 | 2024 | ||||||||
Average | Average | ||||||||
Non-PEO | Non-PEO | ||||||||
PEO | NEOs | PEO | NEOs | ||||||
Adjustments | | ($) | | ($) | | ($) | | ($) | |
Summary Compensation Table - Total Compensation Reported |
| 1,344,284 | 717,865 | 4,536,157 | 1,703,558 | ||||
Deduction for Amounts Reported under the "Stock Awards" and "Option Awards" Columns in the Summary Compensation Table | - | - | (3,928,529) | (1,330,955) | |||||
Increase based on ASC 718 Fair Value of Awards Granted during Applicable Year that Remain Unvested, determined as of applicable year-end | - | - | 2,467,353 | 744,575 | |||||
Increase/deduction for Awards Granted during Prior Year that were Outstanding and Unvested as of Applicable Year-end, determined based on change in ASC 718 Fair Value from Prior Year-end to Applicable Year-end | (2,035,934) | (322,513) | 402,314 | 36,513 | |||||
Increase based on ASC 718 Fair Value of Awards Granted during Applicable Year that Vested during Applicable Year, determined as of Vesting Date | - | - | 1,514,728 | 609,469 | |||||
Increase/deduction for Awards Granted during Prior Year that Vested during Applicable Year, determined based on change in ASC 718 Fair Value from Prior Year-end to Vesting Date | (522,473) | (232,736) | 93,843 | 34,754 | |||||
Compensation Actually Paid | (1,214,123) | 162,616 | 5,085,866 | 1,797,913 | |||||
2025 | 2024 | ||||||||
Average | Average | ||||||||
Non-PEO | Non-PEO | ||||||||
PEO | NEOs | PEO | NEOs | ||||||
Adjustments | | ($) | | ($) | | ($) | | ($) | |
Summary Compensation Table - Total Compensation Reported |
| 1,344,284 | 717,865 | 4,536,157 | 1,703,558 | ||||
Deduction for Amounts Reported under the "Stock Awards" and "Option Awards" Columns in the Summary Compensation Table | - | - | (3,928,529) | (1,330,955) | |||||
Increase based on ASC 718 Fair Value of Awards Granted during Applicable Year that Remain Unvested, determined as of applicable year-end | - | - | 2,467,353 | 744,575 | |||||
Increase/deduction for Awards Granted during Prior Year that were Outstanding and Unvested as of Applicable Year-end, determined based on change in ASC 718 Fair Value from Prior Year-end to Applicable Year-end | (2,035,934) | (322,513) | 402,314 | 36,513 | |||||
Increase based on ASC 718 Fair Value of Awards Granted during Applicable Year that Vested during Applicable Year, determined as of Vesting Date | - | - | 1,514,728 | 609,469 | |||||
Increase/deduction for Awards Granted during Prior Year that Vested during Applicable Year, determined based on change in ASC 718 Fair Value from Prior Year-end to Vesting Date | (522,473) | (232,736) | 93,843 | 34,754 | |||||
Compensation Actually Paid | (1,214,123) | 162,616 | 5,085,866 | 1,797,913 | |||||
