Companies Lifecore Biomedical, Inc

Lifecore Biomedical (LFCR): executive pay, fiscal 2025

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CEO total pay$1,115,305CEO Paul Josephs · source

Say-on-pay support99.23%Latest vote · source

CEO vs. named peers1st pct.Of 12 peer CEOs

CEO pay ratio12:1To the median employee · source

CEO pay, last three years

$10,247,057FY2024
$1,115,305FY2025

CEO total pay was $1,115,305 in fiscal 2025, down from $10,247,057 in fiscal 2024.

FY2025: salary $550,000 · bonus $275,000 · stock awards $274,996

Executives and directors

Paul Josephs · CEO Ryan Lake · CFO Thomas Salus · General Counsel Christopher S. Kiper · Independent Director Humberto C. Antunes · Independent Director Jason Aryeh · Independent Director Joshua E. Schechter · Independent Director Katrina L. Houde · Independent Director Matthew E. Korenberg · Independent Director Nelson Obus · Independent Director Paul H. Johnson · Independent Director

Frequently asked questions

Who was the highest-paid executive at Lifecore Biomedical, Inc in fiscal 2025?

As disclosed, Ryan Lake (Executive Vice President, Chief Financial Officer) was the highest-paid executive at Lifecore Biomedical, Inc in fiscal 2025, with total compensation of $4,302,439.

How does Lifecore Biomedical, Inc's chief executive pay compare to its disclosed peer group?

As disclosed, Paul Josephs's total compensation ranked at the 1st percentile of Lifecore Biomedical, Inc's disclosed peer group.

What is Lifecore Biomedical, Inc's CEO-to-median employee pay ratio?

As disclosed, Lifecore Biomedical, Inc's CEO-to-median employee pay ratio was 12:1.

How did shareholders vote on Lifecore Biomedical, Inc's executive compensation?

As disclosed, 99.23% of shareholders supported Lifecore Biomedical, Inc's executive compensation in the latest say-on-pay vote.

How much does Lifecore Biomedical, Inc spend in total on board compensation for fiscal 2025?

As disclosed, Lifecore Biomedical, Inc reported total board compensation of $1,611,675 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

Full detail

Every table from the filing. Open any section.

Summary compensation table

Named executive officer	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension / NQDC	All other	Total
Ryan Lake	$332,615	$141,000	$3,805,873	—	—	—	$22,951	$4,302,439
Executive Vice President, Chief Financial Officer
Thomas Salus	44,231	—	3,199,120	854,511	—	—	692	4,098,554
Chief Legal and Administrative Officer
Paul Josephs	550,000	275,000	274,996	—	—	—	15,309	1,115,305
President and Chief Executive Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officer	FY2025 total	FY2024 total	FY2023 total	Δ FY2024→2025
Ryan Lake	$4,302,439	—	—	—
Thomas Salus	4,098,554	—	—	—
Paul Josephs	1,115,305	10,247,057	—	↓ −9,131,752

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

Incentive-plan design — the Compensation Discussion & Analysis

The executive compensation program is designed to attract, reward and retain talented officers and embodies a pay-for-performance philosophy.

CEO STI target (% of salary)	—
CEO LTI target (% of salary)	—
Independent consultant	Frederic W. Cook & Co.
Clawback policy	true
Anti-hedging	true
Anti-pledging	true

Equity grants and outstanding awards

Grants of plan-based awards — fiscal year 2025

Executive	Award	Grant date	Threshold	Target	Granted	Maximum	Grant-date fair value
Ryan Lake	RSU	2025-09-22	—	—	170,800	—	$341,600
Paul Josephs	RSU	2025-09-22	—	—	344,167	—	688,333
Thomas Salus	RSU	2025-09-22	—	—	134,167	—	268,333

Vehicle mix — grant-date fair value by award type

Named executive officer	Time-vested (RSU)	Performance-vested (PSU)	Options / SARs	% performance-vested
Ryan Lake	$341,600	$0	$0	0.0%
Paul Josephs	688,333	0	0	0.0%
Thomas Salus	268,333	0	0	0.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

Outstanding equity awards at fiscal year-end 2025

Executive	Award	Shares unvested	Exercise price	Market value unvested
Thomas Salus	RSU	45,000	—	$368,100
Thomas Salus	RSU	170,000	—	1,390,600
Ryan Lake	RSU	210,000	—	1,717,800
Thomas Salus	Option	210,000	6.17	—
Thomas Salus	RSU	333,000	—	2,723,940
Paul Josephs	RSU	400,000	—	3,272,000
Ryan Lake	RSU	600,000	—	4,908,000
Paul Josephs	RSU	1,350,000	—	11,043,000

Director compensation

Director	Cash fees	Stock awards	Option awards	Non-equity incentive	All other	Total
Katrina L. HoudeIndependent · Audit · Nominating and Corporate Governance	$102,917	$150,001	$0	—	$0	$252,918
Paul H. JohnsonIndependent · Compensation (Chair)	53,333	150,001	0	—	0	203,334
Joshua E. SchechterIndependent · Audit · Nominating and Corporate Governance	53,333	150,001	0	—	0	203,334
Humberto C. AntunesIndependent · Compensation · Nominating and Corporate Governance	50,417	150,001	0	—	0	200,418
Matthew E. KorenbergIndependent · Audit (Chair)	40,833	150,001	0	—	0	190,834
Jason AryehIndependent · Audit · Nominating and Corporate Governance	37,917	150,001	0	—	0	187,918
Nelson ObusIndependent · Compensation · Nominating and Corporate Governance	37,917	150,001	0	—	0	187,918
Christopher S. KiperIndependent · Compensation	35,000	150,001	0	—	0	185,001
Paul JosephsEmployee director	—	—	—	—	—	0

Board fee structure and ownership guideline

Annual cash retainer	$50,000
Annual equity retainer	$150,000
Per board meeting fee	—
Committee chair fees (audit / comp / nom-gov)	20,000 / 20,000 / 10,000
Stock ownership guideline	$3

Total cost of the board

Component	FY2025
Cash retainers and fees	$411,667
Equity awards (grant-date value)	$1,200,008
All other compensation	$0
Total cost of the board	$1,611,675

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

Peer group, and who names Lifecore Biomedical as a peer

Companies that benchmark against LFCR

5 companies name LFCR as a compensation peer

Each company listed discloses LFCR in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named LFCR in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

PRPH ProPhase LabsACRS Aclaris TherapeuticsRGNX ReGenXBioSRDX SurmodicsNAII Natural Alternatives InternationalOSUR OraSure Tech InotivAORT ArtivionCDXS CodexisCERS CerusDLHC DLH HoldingsANIP ANI Pharma

Peer reciprocity

Of the companies Lifecore Biomedical, Inc names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

ProPhase Labs (PRPH)— Aclaris Therapeutics (ACRS)³³— ReGenXBio (RGNX)³⁴— Surmodics (SRDX)³⁵ Natural Alternatives International (NAII)✓ OraSure Tech (OSUR)³⁶— Artivion (AORT)³⁷— Codexis (CDXS)³⁸— Cerus (CERS)³⁹— DLH Holdings (DLHC)⁴⁰— ANI Pharma (ANIP)⁴¹

Reciprocity shown where the peer’s own current proxy has been read — each mark is cited in the register to that peer’s filing. A dash means the peer’s current proxy was read and names no reciprocal group including Lifecore Biomedical, Inc.

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.

Rank	Company	FY	Chief executive	Salary	Stock awards	Option awards	Non-equity incentive	Total
1	ANI Pharma	2025	Nikhil Lalwani	$837,409	$7,848,711	$0	$1,572,500	$10,278,620
2	Artivion	2025	J. Patrick Mackin	835,145	5,006,990	0	991,368	6,883,108
3	OraSure Tech	2025	Carrie Eglinton Manner	721,000	3,394,188	0	173,040	4,292,228
4	ReGenXBio	2025	Curran Simpson	665,510	777,448	2,350,302	387,327	4,200,712
5	Cerus	2025	William Greenman	793,750	2,242,585	0	756,000	3,794,657
6	Surmodics	2024	Gary Maharaj	647,481	940,000	1,410,000	654,215	3,665,496
7	Aclaris Therapeutics	2025	Neal Walker	615,000	828,426	1,581,615	350,550	3,375,591
8	Codexis	2025	Alison Moore	524,732	255,994	1,065,223	463,125	2,323,279
9	DLH Holdings	2025	Zachary Parker	750,000	1,079,282	0	270,266	2,122,468
10	Lifecore Biomedical, Inc	2025	Paul Josephs	550,000	274,996	—	—	1,115,305
—	ProPhase Labs	—	—	—	—	—	—	not in coverage universe
—	Natural Alternatives International	—	—	—	—	—	—	not in coverage universe

Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

Incentive design against the same peers

Company	Annual incentive payout	Long-term vehicle mix	PSU measures include TSR	Compensation consultant
Lifecore Biomedical, Inc	not disclosed	not disclosed	not disclosed	Frederic W. Cook & Co.
Aclaris Therapeutics	not disclosed	not disclosed	not disclosed	Pearl Meyer
ANI Pharma	185%	RSU 75 · PSU 25	Yes — relative TSR against the constituents of the S&P 600 Pharmaceuticals, Biotechnology and Life Sciences Index	Pearl Meyer & Partners, LLC
Artivion	118.7%	PSU 50 · RSU 50	No	Willis Towers Watson
Cerus	126%	not disclosed	No	Alpine
Codexis	95%	not disclosed	not disclosed	Pearl Meyer
DLH Holdings	not disclosed	RSU 50 · PRSU 50	not disclosed	Korn Ferry International
Natural Alternatives International	not disclosed	not disclosed	not disclosed	not disclosed
OraSure Tech	24.0%	RSU 50 · PSU 50	Yes — Relative TSR performance vs peer group	Pay Governance
ProPhase Labs	not disclosed	not disclosed	not disclosed	not disclosed
ReGenXBio	97%	Options 75 · RSU 25	not disclosed	Willis Towers Watson
Surmodics	126.3%	Option 60 · Restricted Shares 40	not disclosed	Pay Governance LLC

Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.

Say-on-pay history and pay ratio

Meeting year	Meeting date	For	Against	Abstain	Support	Outcome
2026	2026-06-04	22,938,684	178,868	12,851	99.23%	Passed
2025	2025-10-29	24,642,130	238,354	80,394	99.04%	Passed
2024	2024-11-07	23,645,284	163,003	41,099	99.32%	Passed
2022	2022-09-12	20,189,411	1,086,858	324,090	94.89%	Passed
2021	2021-10-20	20,155,216	1,465,183	491,818	93.22%	Passed
2020	2020-10-14	23,788,131	349,277	564,720	96.3%	Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.

Say-on-pay — history, company’s computation

Meeting year	Meeting date	Approval — company’s computation
2026	2026-06-04	99.23%^a
2025	2025-10-29	99.04%^b
2024	2024-11-07	99.32%^c

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

c. Voting standard not stated in the filing.

Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

CEO pay ratio

Ratio (CEO : median employee)	12 : 1
CEO total compensation	$545,635
Median employee compensation	$46,724

Insider trades since the proxy

No insider equity transactions reported since the proxy statement.

Sources (41 citations)

Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.

Section 01, Ryan Lake. DEF 14A, filed 2026-04-24. Section “Executive Compensation”. As printed: 4,302,439. View filing ↗
Section 01, Thomas Salus. DEF 14A, filed 2026-04-24. Section “Executive Compensation”. As printed: 4,098,554. View filing ↗
Section 01, Paul Josephs. DEF 14A, filed 2026-04-24. Section “Executive Compensation” · page 57. As printed: 1,115,305. View filing ↗
Section 03, Ryan Lake RSU. DEF 14A, filed 2026-04-24. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
Section 03, Paul Josephs RSU. DEF 14A, filed 2026-04-24. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
Section 03, Thomas Salus RSU. DEF 14A, filed 2026-04-24. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
Section 07, pay ratio. DEF 14A, filed 2026-04-24. Section “CEO Pay Ratio”. As printed: 12 : 1. View filing ↗
Section 08, Katrina L. Houde. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 252,918. View filing ↗
Section 08, Paul H. Johnson. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 203,334. View filing ↗
Section 08, Joshua E. Schechter. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 203,334. View filing ↗
Section 08, Humberto C. Antunes. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 200,418. View filing ↗
Section 08, Matthew E. Korenberg. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 190,834. View filing ↗
Section 08, Jason Aryeh. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 187,918. View filing ↗
Section 08, Nelson Obus. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 187,918. View filing ↗
Section 08, Christopher S. Kiper. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 185,001. View filing ↗
Section 08, Paul Josephs. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 0. View filing ↗
Section 06, 2026 vote. Form 8-K, filed 2026-06-05. Item 5.07 · say-on-pay result. As reported: 99.23% (votes for as printed: 22,938,684). View filing ↗
Section 06, 2025 vote. Form 8-K, filed 2025-10-31. Item 5.07 · say-on-pay result. As reported: 99.04% (votes for as printed: 24,642,130). View filing ↗
Section 06, 2024 vote. Form 8-K, filed 2024-11-08. Item 5.07 · say-on-pay result. As reported: 99.32% (votes for as printed: 23,645,284). View filing ↗
Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
Section 09b board cost (computed). Computed. Cash 411,667 + equity 1,200,008 + all other 0 = 1,611,675, summed across the director compensation table rows.
ANI Pharma, Section 10b CEO total. DEF 14A, filed 2026-04-09. CEO total compensation as printed in ANI Pharma's own proxy. As printed: 10,278,620. View filing ↗
Artivion, Section 10b CEO total. DEF 14A, filed 2026-04-01. CEO total compensation as printed in Artivion's own proxy. As printed: 6,883,108. View filing ↗
OraSure Tech, Section 10b CEO total. DEF 14A, filed 2026-04-30. CEO total compensation as printed in OraSure Tech's own proxy. As printed: 4,292,228. View filing ↗
ReGenXBio, Section 10b CEO total. DEF 14A, filed 2026-04-14. CEO total compensation as printed in ReGenXBio's own proxy. As printed: 4,200,712. View filing ↗
Cerus, Section 10b CEO total. DEF 14A, filed 2026-04-22. CEO total compensation as printed in Cerus's own proxy. As printed: 3,794,657. View filing ↗
Surmodics, Section 10b CEO total. DEF 14A, filed 2024-12-19. CEO total compensation as printed in Surmodics's own proxy. As printed: 3,665,496. View filing ↗
Aclaris Therapeutics, Section 10b CEO total. DEF 14A, filed 2026-04-23. CEO total compensation as printed in Aclaris Therapeutics's own proxy. As printed: 3,375,591. View filing ↗
Codexis, Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in Codexis's own proxy. As printed: 2,323,279. View filing ↗
DLH Holdings, Section 10b CEO total. DEF 14A, filed 2026-01-28. CEO total compensation as printed in DLH Holdings's own proxy. As printed: 2,122,468. View filing ↗
Lifecore Biomedical, Inc (subject), Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in Lifecore Biomedical, Inc's own proxy. As printed: 1,115,305. View filing ↗
Section 10a, Aclaris Therapeutics reciprocity. DEF 14A. Aclaris Therapeutics's most recent proxy was read; its disclosed peer group does not include Lifecore Biomedical, Inc. View filing ↗
Section 10a, ReGenXBio reciprocity. DEF 14A. ReGenXBio's most recent proxy was read; its disclosed peer group does not include Lifecore Biomedical, Inc. View filing ↗
Section 10a, Surmodics reciprocity. DEF 14A. Surmodics's most recent proxy was read; its disclosed peer group does not include Lifecore Biomedical, Inc. View filing ↗
Section 10a, OraSure Tech reciprocity. DEF 14A. OraSure Tech names Lifecore Biomedical, Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
Section 10a, Artivion reciprocity. DEF 14A. Artivion's most recent proxy was read; its disclosed peer group does not include Lifecore Biomedical, Inc. View filing ↗
Section 10a, Codexis reciprocity. DEF 14A. Codexis's most recent proxy was read; its disclosed peer group does not include Lifecore Biomedical, Inc. View filing ↗
Section 10a, Cerus reciprocity. DEF 14A. Cerus's most recent proxy was read; its disclosed peer group does not include Lifecore Biomedical, Inc. View filing ↗
Section 10a, DLH Holdings reciprocity. DEF 14A. DLH Holdings's most recent proxy was read; its disclosed peer group does not include Lifecore Biomedical, Inc. View filing ↗
Section 10a, ANI Pharma reciprocity. DEF 14A. ANI Pharma's most recent proxy was read; its disclosed peer group does not include Lifecore Biomedical, Inc. View filing ↗