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PRE 14A
Moleculin Biotech, Inc.
true
<div style="font-size:10pt">
<div style="font-family:"Times New Roman", Times, serif">
<p style="font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 16pt; text-align: left; text-indent: 0pt;"><b>Pay Versus Performance Disclosure</b></p>
<p style="font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 16pt; text-align: left; text-indent: 0pt;"> </p>
<p style="font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 16pt; text-indent: 0pt; text-align: justify;">The following tables and related disclosures provide information about (i) the "total compensation" of our PEO, and our other named executive officer's (the "Non-PEO NEOs") as presented in the Summary Compensation Table of this proxy statement, (ii) the "compensation actually paid" to our NEO and non-PEO NEO's, as calculated pursuant to the SEC's pay-versus-performance rules, (iii) certain financial performance measures, and (iv) the relationship of the "compensation actually paid" to those financial performance measures.</p>
<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"> </p>
<p style="font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 16pt; text-indent: 0pt; text-align: justify;">The disclosure has been prepared in accordance with Item 402(v) of Regulation S-K under the Securities and Exchange Act of 1934, as amended, and does not necessarily reflect value actually realized by the executives or how our compensation committee evaluates compensation decisions in light of company or individual performance.</p>
</div>
</div>
<p style="font-size: 10pt; font-family: "Times New Roman"; margin: 0pt;"> </p>
<div>
<table cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; margin-left: 0pt; margin-right: 0pt;">
<tbody><tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;">
<td style="width: 16%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b> </b></td>
<td style="text-align: center; width: 8%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b> </b></td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b> </b></td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b> </b></td>
<td style="text-align: center; width: 9%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b> </b></td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b> </b></td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b> </b></td>
<td style="text-align: center; width: 9%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b> </b></td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b> </b></td>
<td style="width: 9%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td colspan="2" style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0); width: 10%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b>Value of Initial Fixed $100 Investment Based On:</b></td>
<td style="width: 9%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
</tr>
<tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;">
<td style="width: 16%; border-bottom: 1px solid rgb(0, 0, 0); font-family: "Times New Roman", Times, serif; font-size: 10pt;">
<p style="margin: 0pt; font-size: 10pt; font-family: "Times New Roman", Times, serif;"> </p>
<div style="font-size:10pt">
<div style="font-family:Times New Roman">
<div style="font-variant: normal; margin: 0pt;"><b>Year</b></div>
</div>
</div>
</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td colspan="2" style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;">
<p style="text-align: center; margin: 0pt; font-size: 10pt; font-family: "Times New Roman", Times, serif;"> </p>
<div style="font-size:10pt">
<div style="font-family:Times New Roman">
<div style="font-variant: normal; margin: 0pt;"><b><b>Summary Compensation Table Total for PEO (1)</b></b></div>
</div>
</div>
</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td colspan="2" style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;">
<p style="text-align: center; margin: 0pt; font-size: 10pt; font-family: "Times New Roman", Times, serif;"> </p>
<div style="font-size:10pt">
<div style="font-family:Times New Roman">
<div style="font-variant: normal; margin: 0pt;"><b><b>Compensation Actually Paid to PEO (2) (3)</b></b></div>
</div>
</div>
</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td colspan="2" style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;">
<p style="text-align: center; margin: 0pt; font-size: 10pt; font-family: "Times New Roman", Times, serif;"> </p>
<div style="font-size:10pt">
<div style="font-family:Times New Roman">
<div style="font-variant: normal; margin: 0pt;"><b><b>Average Summary Compensation Table Total for Non-PEO NEOs (1)</b></b></div>
</div>
</div>
</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="text-align: center; width: 9%; border-bottom: 1px solid rgb(0, 0, 0); font-family: "Times New Roman", Times, serif; font-size: 10pt;">
<p style="text-align: center; margin: 0pt; font-size: 10pt; font-family: "Times New Roman", Times, serif;"> </p>
<div style="font-size:10pt">
<div style="font-family:Times New Roman">
<div style="font-variant: normal; margin: 0pt;"><b>Average Compensation Actually Paid to Non-PEO NEOs (2) (3)</b></div>
</div>
</div>
</td>
<td style="text-align: center; width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="text-align: center; width: 9%; border-bottom: 1px solid rgb(0, 0, 0); font-family: "Times New Roman", Times, serif; font-size: 10pt;">
<p style="text-align: center; margin: 0pt; font-size: 10pt; font-family: "Times New Roman", Times, serif;"> </p>
<div style="font-size:10pt">
<div style="font-family:Times New Roman">
<div style="font-variant: normal; margin: 0pt;"><b>Total Shareholder Return (4)</b></div>
</div>
</div>
</td>
<td style="text-align: center; width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="text-align: center; width: 9%; border-bottom: 1px solid rgb(0, 0, 0); font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b>Net Loss (5)</b></td>
</tr>
<tr style="background-color: rgb(204, 238, 255);">
<td style="width: 16%; font-family: "Times New Roman", Times, serif; font-size: 10pt;">2025</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$</td>
<td style="text-align: right; width: 8%; font-family: "Times New Roman", Times, serif; font-size: 10pt;">1,345,958</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$</td>
<td style="text-align: right; width: 9%; font-family: "Times New Roman", Times, serif; font-size: 10pt;">722,258</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$</td>
<td style="text-align: right; width: 9%; font-family: "Times New Roman", Times, serif; font-size: 10pt;">765,094</td>
<td style="width: 1%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$</td>
<td style="width: 9%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">472,221</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 9%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">0.83</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 9%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">(33,560,000)</td>
</tr>
<tr style="background-color: rgb(255, 255, 255);">
<td style="width: 16%; font-family: "Times New Roman", Times, serif; font-size: 10pt;">2024</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$</td>
<td style="text-align: right; width: 8%; font-family: "Times New Roman", Times, serif; font-size: 10pt;">1,458,759</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$</td>
<td style="text-align: right; width: 9%; font-family: "Times New Roman", Times, serif; font-size: 10pt;">339,595</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$</td>
<td style="text-align: right; width: 9%; font-family: "Times New Roman", Times, serif; font-size: 10pt;">841,851</td>
<td style="width: 1%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$</td>
<td style="width: 9%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">239,920</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 9%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">10.69</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 9%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">(26,048,000)</td>
</tr>
<tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
<td style="width: 16%; font-family: "Times New Roman", Times, serif; font-size: 10pt;">2023</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$</td>
<td style="text-align: right; width: 8%; font-family: "Times New Roman", Times, serif; font-size: 10pt;">1,414,599</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$</td>
<td style="text-align: right; width: 9%; font-family: "Times New Roman", Times, serif; font-size: 10pt;">1,437,125</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$</td>
<td style="text-align: right; width: 9%; font-family: "Times New Roman", Times, serif; font-size: 10pt;">719,874</td>
<td style="width: 1%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$</td>
<td style="width: 9%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">705,677</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 9%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">80.98</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 9%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">(29,769,000)</td>
</tr>
</tbody></table>
</div>
<p style="text-align: left; text-indent: 16pt; margin: 0pt; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </p>
<p style="text-align: justify; text-indent: 0pt; margin: 0pt 0pt 0pt 16pt; font-family: "Times New Roman", Times, serif; font-size: 10pt;">(1) The principal executive officer (PEO) is Walter V. Klemp, our chairman, president and chief executive officer. The Non-PEO NEOs are Jonathan P. Foster, our chief financial officer and executive vice president; and Donald Picker, our chief scientific officer. </p>
<p style="text-align: justify; text-indent: 0pt; margin: 0pt 0pt 0pt 16pt; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </p>
<p style="text-align: justify; text-indent: 0pt; margin: 0pt 0pt 0pt 16pt; font-family: "Times New Roman", Times, serif; font-size: 10pt;">(2) The amounts shown as <i>Compensation</i> <i>Actually</i> <i>Paid</i> have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually realized or received by the Company’s NEOs. These amounts reflect total compensation as set forth in the Summary Compensation Table for each year, adjusted as described in footnote 3 below.</p>
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722258
765094
472221
0.83
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1458759
339595
841851
239920
10.69
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1414599
1437125
719874
705677
80.98
-29769000
<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 16pt; text-indent: 0pt;">(3) Compensation Actually Paid reflects the exclusions and inclusions for the PEO (Mr. Klemp) and the Non-PEO NEOs (Mr. Foster and Dr. Picker) set forth below. Amounts excluded, which are set forth in the “Minus Stock and Option Awards from Summ. Comp. Table” columns below, represent the Stock Awards and Option Awards reported in the Stock Awards and Option Awards columns of the Summary Compensation Table for each applicable year. Amounts added back to determine <i>Compensation</i> <i>Actually</i> <i>Paid</i> are made up of the following components which are set forth in the table below, as applicable: (i) the fair value as of the end of the fiscal year of outstanding and unvested equity awards granted in that year; (ii) the change in fair value during the year of equity awards granted in prior years that remained outstanding and unvested at the end of the year; (iii) the fair value as of the vesting date of equity awards that were granted and vested in that year; and (iv) the change in fair value as of the vesting date of equity awards granted in prior years that vested during that year. In 2023 through 2025, we did not have any awards granted in any prior year that failed to meet applicable vesting conditions during the covered year. Equity values are calculated in accordance with ASC Topic 718. The valuation approach is not materially different from the approach used for equity grant date valuations.</p>
<p style="margin: 0pt; font-family: "Times New Roman"; font-size: 10pt;"> </p>
<div>
<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; margin-left: 0pt; margin-right: 0pt;">
<tbody><tr style="font-family: "Times New Roman", Times, serif; font-size: 10pt;">
<td style="width: 12%; text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b>Year</b></td>
<td style="width: 12%; text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b>Summary Comp. Table Total for CEO</b></td>
<td style="width: 12%; text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b><i>Minus</i> Stock and Option Awards from Summ. Comp. Table</b></td>
<td style="width: 12%; text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b><i>Plus</i> Year-End Equity Value of Unvested Awards Granted During Year</b></td>
<td style="width: 12%; text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b><i>Plus</i> Change in Value of Unvested Awards Granted in Prior Years</b></td>
<td style="width: 12%; text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b><i>Plus</i> Value of Awards Granted and Vested During Year</b></td>
<td style="width: 12%; text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b><i>Plus</i> Change in Value of Prior Years' Awards Vested During Year</b></td>
<td style="width: 12%; text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b>Comp. Actually Paid to CEO</b></td>
</tr>
<tr style="background-color: rgb(204, 238, 255);">
<td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;">2025</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$1,345,958</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$324,893</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$131,168</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$(343,670)</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">-</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$(86,305)</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$722,258</td>
</tr>
<tr style="background-color: rgb(255, 255, 255);">
<td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;">2024</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$1,458,759</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$479,231</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$386,372</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$(743,573)</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">-</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$(282,731)</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$339,595</td>
</tr>
<tr style="font-family: "Times New Roman", Times, serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
<td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;">2023</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$1,414,599</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$520,056</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$781,556</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$(116,067)</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">-</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$(122,907)</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$1,437,125</td>
</tr>
</tbody></table>
</div>
1345958
324893
131168
-343670
0
-86305
722258
1458759
479231
386372
-743573
0
-282731
339595
1414599
520056
781556
-116067
0
-122907
1437125
<div>
<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; margin-left: 0pt; margin-right: 0pt;">
<tbody><tr style="font-family: "Times New Roman", Times, serif; font-size: 10pt;">
<td style="width: 12%; text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b>Year</b></td>
<td style="width: 12%; text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b>Avg. Summary Comp. Table Total for Non-PEO NEOs</b></td>
<td style="width: 12%; text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b><i>Minus</i> Stock and Option Awards from Summ. Comp. Table</b></td>
<td style="width: 12%; text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b><i>Plus</i> Year-End Equity Value of Unvested Awards Granted During Year</b></td>
<td style="width: 12%; text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b><i>Plus</i> Change in Value of Unvested Awards Granted in Prior Years</b></td>
<td style="width: 12%; text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b><i>Plus</i> Value of Awards Granted and Vested During Year</b></td>
<td style="width: 12%; text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b><i>Plus</i> Change in Value of Prior Years' Awards Vested During Year</b></td>
<td style="width: 12%; text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b>Average Comp. Actually Paid to Non-PEO NEOs</b></td>
</tr>
<tr style="background-color: rgb(204, 238, 255);">
<td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;">2025</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$765,094</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$156,546</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$59,146</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$(154,653)</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">-</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$(40,820)</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$472,221</td>
</tr>
<tr style="background-color: rgb(255, 255, 255);">
<td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;">2024</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$841,851</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$247,615</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$372,456</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$(544,242)</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">-</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$(182,529)</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$239,920</td>
</tr>
<tr style="font-family: "Times New Roman", Times, serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
<td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;">2023</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$719,874</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$171,073</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$256,517</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$(51,180)</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">-</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$(48,461)</td>
<td style="text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt;">$705,677</td>
</tr>
</tbody></table>
</div>
<p style="text-align: left; text-indent: 16pt; margin: 0pt; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </p>
<p style="text-align: left; text-indent: 16pt; margin: 0pt; font-family: "Times New Roman", Times, serif; font-size: 10pt;">(4) Total Shareholder Return illustrates the value, as of the last day of the indicated fiscal year, of an investment of $100 in our common stock on December 31, 2022.</p>
<p style="text-align: left; text-indent: 16pt; margin: 0pt; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </p>
<p style="text-align: left; text-indent: 0pt; margin: 0pt 0pt 0pt 16pt; font-family: "Times New Roman", Times, serif; font-size: 10pt;">(5) The amounts presented for 2024 and 2025 are as reported in the audited financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2025. The amount presented for 2023 is as reported in the audited financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2023, which have not been restated. During 2025 we changed our accounting policy for the classification of certain warrants from liability classification to equity classification and applied the change retrospectively. As a result, the net loss for the year ended December 31, 2024 reported in our Annual Report on Form 10-K for the year ended December 31, 2025 differs from the net loss for that year as originally reported, which was $21.8 million.</p>
<p style="text-align: left; text-indent: 16pt; margin: 0pt; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </p>
<p style="text-align: left; text-indent: 16pt; margin: 0pt; font-family: "Times New Roman", Times, serif; font-size: 10pt;"><b>Relationship Between Compensation Actually Paid and Performance</b></p>
765094
156546
59146
-154653
0
-40820
472221
841851
247615
372456
-544242
0
-182529
239920
719874
171073
256517
-51180
0
-48461
705677
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 16pt; text-align: justify; text-indent: 0pt;">Compensation Actually Paid has been below the total compensation reported in the Summary Compensation Table in each of the last two fiscal years, reflecting the decline in the market price of our common stock. The value of a fixed $100 investment made on December 31, 2022 fell to $80.98 at the end of 2023, $10.69 at the end of 2024 and $0.83 at the end of 2025. Over the same period, Compensation Actually Paid to our PEO moved from $1,437,125 in 2023 to $339,595 in 2024 and $722,258 in 2025, and the average Compensation Actually Paid to our other named executive officers moved from $705,677 to $239,920 and then to $472,221. The decrease from 2023 to 2024 tracked the decline in total shareholder return, as the fair value of outstanding equity awards fell with the share price. Compensation Actually Paid increased in 2025 even though total shareholder return declined further, because the options and performance stock units granted in November 2025 carried fair value at December 31, 2025, while the reductions in the fair value of awards granted in prior years were smaller in 2025 than in 2024, those awards having already been written down to low values at the end of 2024. Our net loss was $29.8 million in 2023, $26.0 million in 2024 and $33.6 million in 2025. Because we are a clinical-stage company with no product revenue, our net loss reflects the cost of advancing our clinical programs rather than commercial performance, and the Compensation Committee does not use net loss to determine compensation. Accordingly, we do not consider there to be a meaningful relationship between our net loss and Compensation Actually Paid.</p>
<p style="font-size: 10pt; font-family: "Times New Roman", Times, serif; margin: 0pt;"> </p>
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 16pt;"><b>Recoupment Policy</b></p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 16pt;">We adopted the Moleculin Biotech, Inc. Dodd-Frank Restatement Recoupment Policy effective as of October 2, 2023. In the event that we are required to prepare a financial restatement, the Committee will recoup all erroneously awarded incentive-based compensation calculated on a pre-tax basis received after October 2, 2023, by a person (i) after beginning service as an executive officer, (ii) who served as an executive officer at any time during the performance period for that incentive-based compensation, and (iii) during the three completed fiscal years immediately preceding the date that the Company is required to prepare a restatement, and any transition period (that results from a change in the Company’s fiscal year) of less than nine months within or immediately following those three completed fiscal years. “Clawback” or recoupment policy in our executive compensation program contributes to creating and maintaining a culture that emphasizes integrity and accountability and reinforces the performance-based principles underlying our executive compensation program.</p>
2023-10-02
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 16pt;"><b>Granting of Certain Equity Awards Close in Time to the Release of Material Nonpublic Information</b></p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 16pt;">We do not grant equity awards in anticipation of the release of material nonpublic information, and do not time the public release of such information based on award grant dates. During the last completed fiscal year, we have not made awards to any named executive officer during the period beginning four business days before and ending one business day after the filing of a period report on Form 10-Q or Form 10-K or the filing or furnishing of a current report on Form 8-K, and we have not timed the disclosure of material nonpublic information for the purpose of affecting the value of executive compensation.</p>
<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"> </p>
We do not grant equity awards in anticipation of the release of material nonpublic information, and do not time the public release of such information based on award grant dates. During the last completed fiscal year, we have not made awards to any named executive officer during the period beginning four business days before and ending one business day after the filing of a period report on Form 10-Q or Form 10-K or the filing or furnishing of a current report on Form 8-K, and we have not timed the disclosure of material nonpublic information for the purpose of affecting the value of executive compensation.
false
false
false