Pay-Versus-Performance |
|
||||||||||||||||||||||||
Year(1) |
|
Summary |
|
|
Compensation |
|
|
|
Average |
|
|
Average |
|
|
Value of |
|
|
Net Income |
|
||||||
2025 |
|
$ |
6,133,943 |
|
|
$ |
41,738,418 |
|
|
|
$ |
2,186,652 |
|
|
$ |
12,471,713 |
|
|
$ |
156 |
|
|
$ |
(13,232,000 |
) |
2024 |
|
$ |
13,630,292 |
|
|
$ |
9,160,362 |
|
|
|
$ |
3,911,208 |
|
|
$ |
1,844,033 |
|
|
$ |
43 |
|
|
$ |
(145,231,000 |
) |
2023 |
|
$ |
7,461,920 |
|
|
$ |
(1,737,869 |
) |
|
|
$ |
2,349,651 |
|
|
$ |
544,250 |
|
|
$ |
69 |
|
|
$ |
(163,619,000 |
) |
Year |
|
PEO 1 |
|
Non-PEO NEOs |
2025 |
|
Daniel Faga |
|
Dennis Mulroy, Paul Lizzul |
2024 |
|
Daniel Faga |
|
Dennis Mulroy, Paul Lizzul |
2023 |
|
Daniel Faga |
|
Eric Loumeau, Paul Lizzul |
|
|
|
|
2025 |
|
|
2025 |
|
||
|
|
Summary Compensation Table - Total Compensation |
|
$ |
6,133,943 |
|
|
$ |
2,186,652 |
|
- |
|
Grant Date Fair Value of Stock Awards and Option Awards Granted in Fiscal Year |
|
$ |
(4,937,654 |
) |
|
$ |
(1,402,155 |
) |
+ |
|
Fair Value at Fiscal Year End of Outstanding and Unvested Stock Awards and Option Awards Granted in Fiscal Year |
|
$ |
20,014,968 |
|
|
$ |
5,684,280 |
|
+ |
|
Change in Fair Value of Outstanding and Unvested Stock Awards and Option Awards Granted in Prior Fiscal Years |
|
$ |
17,158,745 |
|
|
$ |
4,805,546 |
|
+ |
|
Fair Value at Vesting of Stock Awards and Option Awards Granted in Fiscal Year That Vested During Fiscal Year |
|
$ |
— |
|
|
$ |
— |
|
+ |
|
Change in Fair Value as of Vesting Date of Stock Awards and Option Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year |
|
$ |
3,368,416 |
|
|
$ |
1,197,390 |
|
- |
|
Fair Value as of Prior Fiscal Year End of Stock Awards and Option Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year |
|
$ |
— |
|
|
$ |
— |
|
= |
|
Compensation Actually Paid |
|
$ |
41,738,418 |
|
|
$ |
12,471,713 |
|
The fair value or change in fair value, as applicable, of equity awards in the “Compensation Actually Paid” columns has been estimated pursuant to the guidance in ASC Topic 718, and the valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of the grant.
|
|
|
|
2025 |
|
|
2025 |
|
||
|
|
Summary Compensation Table - Total Compensation |
|
$ |
6,133,943 |
|
|
$ |
2,186,652 |
|
- |
|
Grant Date Fair Value of Stock Awards and Option Awards Granted in Fiscal Year |
|
$ |
(4,937,654 |
) |
|
$ |
(1,402,155 |
) |
+ |
|
Fair Value at Fiscal Year End of Outstanding and Unvested Stock Awards and Option Awards Granted in Fiscal Year |
|
$ |
20,014,968 |
|
|
$ |
5,684,280 |
|
+ |
|
Change in Fair Value of Outstanding and Unvested Stock Awards and Option Awards Granted in Prior Fiscal Years |
|
$ |
17,158,745 |
|
|
$ |
4,805,546 |
|
+ |
|
Fair Value at Vesting of Stock Awards and Option Awards Granted in Fiscal Year That Vested During Fiscal Year |
|
$ |
— |
|
|
$ |
— |
|
+ |
|
Change in Fair Value as of Vesting Date of Stock Awards and Option Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year |
|
$ |
3,368,416 |
|
|
$ |
1,197,390 |
|
- |
|
Fair Value as of Prior Fiscal Year End of Stock Awards and Option Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year |
|
$ |
— |
|
|
$ |
— |
|
= |
|
Compensation Actually Paid |
|
$ |
41,738,418 |
|
|
$ |
12,471,713 |
|
The fair value or change in fair value, as applicable, of equity awards in the “Compensation Actually Paid” columns has been estimated pursuant to the guidance in ASC Topic 718, and the valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of the grant.
The following graph displays our compensation actually paid (CAP) vs. our cumulative TSR.
1. Cumulative TSR is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and the difference between the Company’s share price at the end and the beginning of the measurement period by the Company’s share price at the beginning of the measurement period.
The following graph displays our compensation actually paid vs. Net Income. As a pre-commercial biotechnology company, we do not believe Net Income is yet a reasonable metric to measure our financial performance.
1. Net Income is calculated by subtracting expenses, interest, and taxes from revenue. The dollar amounts reported represent the amount of Net Income reflected in the Company’s audited financial statements for the applicable year.