Companies PALVELLA THERAPEUTICS, INC.
PALVELLA THERAPEUTICS (PVLA): executive pay, fiscal 2025
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CEO pay, last three years
- $585,963FY2023
- $5,436,064FY2024
- $3,404,904FY2025
CEO total pay was $3,404,904 in fiscal 2025, down from $5,436,064 in fiscal 2024.
FY2025: salary $575,000 · bonus $0 · stock awards $0 · option awards $2,469,886
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Executives and directors
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 |
|---|---|---|---|---|---|---|---|---|
| Wesley Kaupinen | $575,000 | $0 | $0 | $2,469,886 | $359,375 | $0 | $643 | $3,404,904 |
| President and Chief Executive Officer | ||||||||
| Kathleen Goin | 481,300 | 0 | 0 | 1,306,017 | 192,520 | 0 | 0 | 1,979,837 |
| Chief Operating Officer | ||||||||
| Matthew Korenberg | 475,300 | 0 | 0 | 1,306,017 | 190,120 | 0 | 0 | 1,971,437 |
| Chief Financial 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 |
|---|---|---|---|---|
| Wesley Kaupinen | $3,404,904 | $5,436,064 | $585,963 | ↓ −2,031,160 |
| Kathleen Goin | 1,979,837 | 1,124,572 | 1,345,807 | ↑ +855,265 |
| Matthew Korenberg | 1,971,437 | — | — | — |
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 company provides base salary, annual performance-based cash bonus opportunities, and other benefits to attract and retain named executive officers.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
Equity grants and outstanding awards
No plan-based awards are on file for this fiscal year.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Wesley Kaupinen | Option | 6,252 | 9.79 | — |
| Kathleen Goin | Option | 16,756 | 7.53 | — |
| Kathleen Goin | Option | 20,883 | 13.6 | — |
| Kathleen Goin | Option | 28,055 | 9.79 | — |
| Wesley Kaupinen | Option | 45,821 | 7.53 | — |
| Kathleen Goin | Option | 102,072 | 14.76 | — |
| Matthew Korenberg | Option | 102,072 | 14.76 | — |
| Matthew Korenberg | Option | 118,363 | 13.6 | — |
| Wesley Kaupinen | Option | 193,033 | 14.76 | — |
| Wesley Kaupinen | Option | 313,355 | 13.6 | — |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| George M. JenkinsIndependent · Board Chair · Audit (Chair) · Compensation | $87,500 | $0 | $215,755 | — | $0 | $303,255 |
| Elaine J. Heron, Ph.DIndependent · Audit · Nominating/Governance (Chair) | 55,500 | 0 | 215,755 | — | 0 | 271,255 |
| Todd C. DavisIndependent · Compensation (Chair) · Nominating/Governance | 54,000 | 0 | 215,755 | — | 0 | 269,755 |
| Christopher KiritsyIndependent · Audit · Nominating/Governance | 51,500 | 0 | 215,755 | — | 0 | 267,255 |
| Tadd S. WesselIndependent · Compensation · Nominating/Governance | 49,000 | 0 | 215,755 | — | 0 | 264,755 |
| John Doux, M.DIndependent · Newly elected | 0 | 0 | 0 | — | 0 | 0 |
| Wesley H. KaupinenEmployee director · NCGC | — | — | — | — | — | 0 |
Board fee structure and ownership guideline
| Annual cash retainer | $40,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 15,000 / 10,000 / 8,000 |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $297,500 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $0 |
| Total cost of the board | $297,500 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names PALVELLA THERAPEUTICS as a peer
Companies that benchmark against PVLA
No companies currently name PVLA as a compensation peer in their most recent disclosure.
This is the complete answer, not a partial one — the list is never padded.
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 | PALVELLA THERAPEUTICS, INC. | 2025 | Wesley Kaupinen | $575,000 | $0 | $2,469,886 | $359,375 | $3,404,904 |
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.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-04-13 | 10,008,180 | 160,717 | 7,157 | 98.42% | Passed |
| 2025 | 2025-06-10 | 6,550,393 | 61,078 | 36,866 | 99.08% | Passed |
| 2024 | 2024-12-02 | 604,490 | 6,678 | 634 | 98.91% | Passed |
| 2023 | 2023-06-21 | 17,227,404 | 2,828,509 | 5,556,466 | 85.9% | Passed |
| 2022 | 2022-06-22 | 30,353,634 | 1,565,728 | 390,087 | 95.09% | Passed |
| 2021 | 2021-06-25 | 26,115,252 | 2,718,810 | 3,646,312 | 90.57% | 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 | 2026-04-13 | 98.42%a |
| 2025 | 2025-06-10 | 99.08%b |
| 2024 | 2024-12-02 | 98.91%c |
a. Voting standard not stated in the filing.
b. Voting standard not stated in the filing.
c. Approved under the standard stated in the filing — “If a broker does not exercise this authority, such broker non-votes, as well as abstentions, will be counted as present for purposes of determining the presence of a quorum, but will have no effect on the results of this vote.”.
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.
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (16 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, Wesley Kaupinen. DEF 14A, filed 2026-04-30. Section “SUMMARY COMPENSATION TABLE”. As printed: 3,404,904. View filing ↗
- Section 01, Kathleen Goin. DEF 14A, filed 2026-04-30. Section “SUMMARY COMPENSATION TABLE”. As printed: 1,979,837. View filing ↗
- Section 01, Matthew Korenberg. DEF 14A, filed 2026-04-30. Section “SUMMARY COMPENSATION TABLE”. As printed: 1,971,437. View filing ↗
- Section 08, George M. Jenkins. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 303,255. View filing ↗
- Section 08, Elaine J. Heron, Ph.D. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 271,255. View filing ↗
- Section 08, Todd C. Davis. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 269,755. View filing ↗
- Section 08, Christopher Kiritsy. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 267,255. View filing ↗
- Section 08, Tadd S. Wessel. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 264,755. View filing ↗
- Section 08, John Doux, M.D. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, Wesley H. Kaupinen. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-06-16. Item 5.07 · say-on-pay result. As reported: 98.42% (votes for as printed: 10,008,180). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-06-11. Item 5.07 · say-on-pay result. As reported: 99.08% (votes for as printed: 6,550,393). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-12-03. Item 5.07 · say-on-pay result. As reported: 98.91% (votes for as printed: 604,490). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 09b board cost (computed). Computed. Cash 297,500 + equity 0 + all other 0 = 297,500, summed across the director compensation table rows.
- PALVELLA THERAPEUTICS, INC. (subject), Section 10b CEO total. DEF 14A, filed 2026-04-30. CEO total compensation as printed in PALVELLA THERAPEUTICS, INC.'s own proxy. As printed: 3,404,904. View filing ↗