Companies IGM Biosciences, Inc.
IGM Biosciences (IGM): executive pay, fiscal 2023
Free brief. Every figure links to the company’s own filing.
IGM Biosciences, Inc. no longer files a proxy statement; its last pay data is FY2023.
CEO pay, last three years
- $5,316,460FY2022
- $3,207,328FY2023
CEO total pay was $3,207,328 in fiscal 2023, down from $5,316,460 in fiscal 2022.
FY2023: salary $646,797 · bonus $0 · stock awards $868,050 · option awards $1,336,743
Frequently asked questions
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 |
|---|---|---|---|---|---|---|---|---|
| Fred Schwarzer | $646,797 | $0 | $868,050 | $1,336,743 | $355,738 | $0 | $0 | $3,207,328 |
| Chief Executive Officer, President and Director | ||||||||
| Bruce Keyt | 492,326 | 0 | 337,575 | 519,845 | 221,458 | 0 | 0 | 1,571,204 |
| Chief Scientific Officer | ||||||||
| Chris Takimoto | 486,492 | — | 337,575 | 519,845 | 218,900 | — | — | 1,562,812 |
| Chief Medical 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 | FY2023 total | FY2022 total | FY2021 total | Δ FY2022→2023 |
|---|---|---|---|---|
| Fred Schwarzer | $3,207,328 | $5,316,460 | — | ↓ −2,109,132 |
| Bruce Keyt | 1,571,204 | 1,839,300 | — | ↓ −268,096 |
| Chris Takimoto | 1,562,812 | 1,827,118 | — | ↓ −264,306 |
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 aims to ensure that the compensation offered to executive officers is competitive and fair by using a peer group to determine appropriate levels. Compensation decisions are based on company results, individual contributions, and performance toward individual goal achievement.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Aon |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | false |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2023
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Bruce Keyt | RSU | — | — | — | 21,126 | — | — |
| Bruce Keyt | RSU | — | — | — | 24,019 | — | — |
| Fred Schwarzer | RSU | — | — | — | 38,583 | — | — |
| Fred Schwarzer | RSU | — | — | — | 34,200 | — | — |
Vehicle mix — grant-date fair value by award type
Grant-level vehicle detail not disclosed.
% 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 2023
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Bruce Keyt | Option | 3,125 | 40.27 | — |
| Fred Schwarzer | Option | 6,250 | 40.27 | — |
| Bruce Keyt | RSU | 9,375 | — | 77,906 |
| Chris Takimoto | RSU | 9,375 | — | 77,906 |
| Bruce Keyt | Option | 14,584 | 91.5 | — |
| Bruce Keyt | RSU | 26,250 | — | 218,138 |
| Chris Takimoto | RSU | 26,250 | — | 218,138 |
| Fred Schwarzer | Option | 36,459 | 91.5 | — |
| Bruce Keyt | Option | 42,188 | 17.11 | — |
| Chris Takimoto | Option | 42,188 | 17.11 | — |
| Bruce Keyt | Option | 42,657 | 12.86 | — |
| Chris Takimoto | Option | 42,657 | 12.86 | — |
| Chris Takimoto | Option | 59,375 | 68.01 | — |
| Fred Schwarzer | RSU | 67,500 | — | 560,925 |
| Fred Schwarzer | Option | 109,688 | 12.86 | — |
| Fred Schwarzer | Option | 196,875 | 17.11 | — |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| William StrohlIndependent | $90,000 | $0 | $146,594 | — | — | $236,594 |
| Julie Hambleton, M.DIndependent · Audit · Compensation · Corporate Governance · Research and Clinical Development | 57,500 | 0 | 146,594 | — | — | 204,094 |
| Michael Loberg, Ph.DIndependent · Board Chair · Audit · Compensation · Corporate Governance · Departed during FY | 0 | 35,950 | 146,594 | — | — | 182,544 |
| M. Kathleen Behrens, Ph.DIndependent · Audit (Chair) · Compensation · Corporate Governance | 0 | 31,704 | 146,594 | — | — | 178,298 |
| Christina Teng TopsøeIndependent · Audit · Compensation (Chair) · Corporate Governance (Chair) · Research and Clinical Development | 0 | 29,247 | 146,594 | — | — | 175,841 |
| Felix J. Baker, Ph.DIndependent · Audit · Compensation · Corporate Governance · Research and Clinical Development | 0 | 21,955 | 146,594 | — | — | 168,549 |
| Elizabeth H.Z. ThompsonIndependent | 15,285 | 0 | 152,250 | — | — | 167,535 |
| Jakob Haldor TopsøeIndependent · Audit · Compensation · Corporate Governance | 0 | 19,498 | 146,594 | — | — | 166,092 |
| Michael LeeIndependent · Audit · Compensation · Corporate Governance | 0 | 19,498 | 146,594 | — | — | 166,092 |
| Fred SchwarzerEmployee director | — | — | — | — | — | 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 / 10,000 |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2023 |
|---|---|
| Cash retainers and fees | $162,785 |
| Equity awards (grant-date value) | $157,852 |
| All other compensation | $0 |
| Total cost of the board | $320,637 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names IGM Biosciences as a peer
Companies that benchmark against IGM
The list of companies that name IGM as a peer is temporarily unavailable — recheck shortly.
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 | IGM Biosciences, Inc. | 2023 | Fred Schwarzer | $646,797 | $868,050 | $1,336,743 | $355,738 | $3,207,328 |
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
No say-on-pay vote is on file for this company.
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (20 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, Fred Schwarzer. DEF 14A, filed 2024-04-26. Section “Summary Compensation Table” · page 34. As printed: 3,207,328. View filing ↗
- Section 01, Bruce Keyt. DEF 14A, filed 2024-04-26. Section “Summary Compensation Table” · page 34. As printed: 1,571,204. View filing ↗
- Section 01, Chris Takimoto. DEF 14A, filed 2024-04-26. Section “Summary Compensation Table” · page 34. As printed: 1,562,812. View filing ↗
- Section 03, Bruce Keyt RSU. DEF 14A, filed 2024-04-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Bruce Keyt RSU. DEF 14A, filed 2024-04-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Fred Schwarzer RSU. DEF 14A, filed 2024-04-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Fred Schwarzer RSU. DEF 14A, filed 2024-04-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 08, William Strohl. DEF 14A, filed 2024-04-26. Section “Director Compensation”. As printed: 236,594. View filing ↗
- Section 08, Julie Hambleton, M.D. DEF 14A, filed 2024-04-26. Section “Director Compensation”. As printed: 204,094. View filing ↗
- Section 08, Michael Loberg, Ph.D. DEF 14A, filed 2024-04-26. Section “Director Compensation”. As printed: 182,544. View filing ↗
- Section 08, M. Kathleen Behrens, Ph.D. DEF 14A, filed 2024-04-26. Section “Director Compensation”. As printed: 178,298. View filing ↗
- Section 08, Christina Teng Topsøe. DEF 14A, filed 2024-04-26. Section “Director Compensation”. As printed: 175,841. View filing ↗
- Section 08, Felix J. Baker, Ph.D. DEF 14A, filed 2024-04-26. Section “Director Compensation”. As printed: 168,549. View filing ↗
- Section 08, Elizabeth H.Z. Thompson. DEF 14A, filed 2024-04-26. Section “Director Compensation”. As printed: 167,535. View filing ↗
- Section 08, Jakob Haldor Topsøe. DEF 14A, filed 2024-04-26. Section “Director Compensation”. As printed: 166,092. View filing ↗
- Section 08, Michael Lee. DEF 14A, filed 2024-04-26. Section “Director Compensation”. As printed: 166,092. View filing ↗
- Section 08, Fred Schwarzer. DEF 14A, filed 2024-04-26. Section “Director Compensation”. As printed: 0. 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 162,785 + equity 157,852 + all other 0 = 320,637, summed across the director compensation table rows.
- IGM Biosciences, Inc. (subject), Section 10b CEO total. DEF 14A, filed 2024-04-26. CEO total compensation as printed in IGM Biosciences, Inc.'s own proxy. As printed: 3,207,328. View filing ↗