Companies Cue Biopharma, Inc.
Cue Biopharma (CUE): executive pay, fiscal 2025
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CEO pay, last three years
- $1,185,639FY2025
CEO total pay was $1,185,639 in fiscal 2025; the brief holds no earlier figure for this CEO.
FY2025: salary $143,077 · bonus $0 · stock awards $0 · option awards $1,042,313
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Full detail
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Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Daniel Passeri | $240,504 | $0 | $0 | $336,555 | $0 | $0 | $849,124 | $1,426,183 |
| Former Chief Executive Officer | ||||||||
| Matteo Levisetti | 470,753 | 0 | 0 | 186,975 | 0 | 0 | 561,636 | 1,219,364 |
| Former Chief Medical Officer | ||||||||
| Usman Azam | 143,077 | 0 | 0 | 1,042,313 | 0 | 0 | 249 | 1,185,639 |
| President and Chief Executive Officer | ||||||||
| Lucinda Warren | 469,952 | 0 | 0 | 330,275 | 0 | 0 | 996 | 801,223 |
| Chief Financial and Business Officer | ||||||||
| Colin Sandercock | 448,646 | 0 | 0 | 149,580 | 0 | 0 | 996 | 599,222 |
| SVP, General Counsel and Secretary | ||||||||
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 |
|---|---|---|---|---|
| Daniel Passeri | $1,426,183 | $1,393,921 | $3,015,480 | ↑ +32,262 |
| Matteo Levisetti | 1,219,364 | 1,191,276 | — | ↑ +28,088 |
| Usman Azam | 1,185,639 | — | — | — |
| Lucinda Warren | 801,223 | — | — | — |
| Colin Sandercock | 599,222 | — | — | — |
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
Cue Biopharma aims to offer competitive compensation to attract, retain, and motivate highly skilled management, emphasizing long-term performance-based equity compensation over base salaries and annual bonuses to align management interests with stockholders and conserve cash.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Radford, an AON Hewitt company |
| 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 |
|---|---|---|---|---|
| Colin Sandercock | Option | 2,084 | 5.01 | — |
| Colin Sandercock | Option | 7,500 | 6.91 | — |
| Daniel Passeri | Option | 12,500 | 5.01 | — |
| Colin Sandercock | Option | 37,500 | 1.65 | — |
| Colin Sandercock | Option | 37,500 | 3.21 | — |
| Daniel Passeri | Option | 81,000 | 3.21 | — |
| Colin Sandercock | Option | 109,375 | 1.94 | — |
| Lucinda Warren | Option | 125,000 | 0.72 | — |
| Lucinda Warren | Option | 175,000 | 0.66 | — |
| Colin Sandercock | Option | 175,000 | 0.98 | — |
| Daniel Passeri | Option | 200,000 | 1.94 | — |
| Lucinda Warren | Option | 218,750 | 0.98 | — |
| Daniel Passeri | Option | 337,500 | 0.98 | — |
| Usman Azam | Option | 375,000 | 0.72 | — |
| Daniel Passeri | Option | 375,000 | 0.72 | — |
| Usman Azam | Option | 1,875,000 | 0.72 | — |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Peter A. KienerIndependent · Compensation (Chair) · Corporate Governance and Nominating · Science and Technology Strategy (Chair) | $64,000 | — | $19,381 | — | $110,000 | $193,381 |
| Pasha SarrafIndependent · Board Chair · Corporate Governance and Nominating · Science and Technology Strategy | 50,392 | — | 37,688 | — | 0 | 88,080 |
| Patrick VerheyenIndependent · Audit · Compensation | 57,500 | — | 19,381 | — | 0 | 76,881 |
| Frank MorichIndependent · Audit · Corporate Governance and Nominating (Chair) · Science and Technology Strategy | 57,138 | — | 19,381 | — | 0 | 76,519 |
| Pamela GarzoneIndependent · Compensation · Science and Technology Strategy | 50,000 | — | 19,381 | — | 0 | 69,381 |
| Jill BroadfootIndependent · Audit (Chair) · Corporate Governance and Nominating · Newly elected | 31,500 | — | 22,765 | — | 0 | 54,265 |
| Frederick DriscollIndependent · Not standing for re-election · Departed during FY | 22,800 | — | 19,381 | — | 0 | 42,181 |
| Usman AzamEmployee director | — | — | — | — | — | 0 |
Board fee structure and ownership guideline
| Annual cash retainer | $35,000 |
|---|---|
| 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 | $333,330 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $110,000 |
| Total cost of the board | $443,330 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Cue Biopharma as a peer
Companies that benchmark against CUE
3 companies name CUE as a compensation peer
- Astria Therapeutics, Inc.ATXSFY2024
- Mersana Therapeutics, Inc.MRSNFY2024
- SELLAS Life Sciences Group, Inc.SLSFY2025
Each company listed discloses CUE 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 CUE in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
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 | Cue Biopharma, Inc. | 2025 | Usman Azam | $143,077 | $0 | $1,042,313 | $0 | $1,185,639 |
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 |
|---|---|---|---|---|---|---|
| 2025 | 2025-06-04 | 13,186,558 | 2,634,667 | 138,967 | 83.35% | Passed |
| 2023 | 2023-06-07 | 11,079,655 | 2,042,073 | 897,148 | 84.44% | Passed |
| 2022 | 2022-06-09 | — | — | — | — | — |
| 2021 | 2021-06-09 | — | — | — | — | — |
| 2020 | 2020-07-09 | — | — | — | — | — |
| 2019 | 2019-08-06 | — | — | — | — | — |
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 |
|---|---|---|
| 2025 | 2025-06-04 | 83.35%a |
| 2023 | 2023-06-07 | 84.44%b |
| 2022 | 2022-06-09 | —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.
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (19 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, Daniel Passeri. DEF 14A, filed 2026-03-16. Section “Executive Compensation”. As printed: 1,426,183. View filing ↗
- Section 01, Matteo Levisetti. DEF 14A, filed 2026-03-16. Section “Executive Compensation”. As printed: 1,219,364. View filing ↗
- Section 01, Usman Azam. DEF 14A, filed 2026-03-16. Section “Executive Compensation”. As printed: 1,185,639. View filing ↗
- Section 01, Lucinda Warren. DEF 14A, filed 2026-03-16. Section “Executive Compensation”. As printed: 801,223. View filing ↗
- Section 01, Colin Sandercock. DEF 14A, filed 2026-03-16. Section “Executive Compensation”. As printed: 599,222. View filing ↗
- Section 08, Peter A. Kiener. DEF 14A. Section “Director Compensation”. As printed: 193,381.
- Section 08, Pasha Sarraf. DEF 14A. Section “Director Compensation”. As printed: 88,080.
- Section 08, Patrick Verheyen. DEF 14A. Section “Director Compensation”. As printed: 76,881.
- Section 08, Frank Morich. DEF 14A. Section “Director Compensation”. As printed: 76,519.
- Section 08, Pamela Garzone. DEF 14A. Section “Director Compensation”. As printed: 69,381.
- Section 08, Jill Broadfoot. DEF 14A. Section “Director Compensation”. As printed: 54,265.
- Section 08, Frederick Driscoll. DEF 14A, filed 2026-03-16. Section “Director Compensation”. As printed: 42,181. View filing ↗
- Section 08, Usman Azam. DEF 14A. Section “Director Compensation”. As printed: 0.
- Section 06, 2025 vote. Form 8-K, filed 2025-06-10. Item 5.07 · say-on-pay result. As reported: 83.35% (votes for as printed: 13,186,558). View filing ↗
- Section 06, 2023 vote. Form 8-K, filed 2023-06-09. Item 5.07 · say-on-pay result. As reported: 84.44% (votes for as printed: 11,079,655). View filing ↗
- Section 06, 2022 vote. Form 8-K, filed 2022-06-10. Item 5.07 · say-on-pay result. As reported: —. 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 333,330 + equity 0 + all other 110,000 = 443,330, summed across the director compensation table rows.
- Cue Biopharma, Inc. (subject), Section 10b CEO total. DEF 14A, filed 2026-03-16. CEO total compensation as printed in Cue Biopharma, Inc.'s own proxy. As printed: 1,185,639. View filing ↗