Companies Larimar Therapeutics
Larimar Therapeutics (LRMR): executive pay, fiscal 2025
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CEO pay, last three years
- $3,137,431FY2023
- $2,511,649FY2024
- $3,526,423FY2025
CEO total pay was $3,526,423 in fiscal 2025, up from $2,511,649 in fiscal 2024.
FY2025: salary $650,000 · bonus $307,450 · stock awards $660,860 · option awards $1,889,160
Executives and directors
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 |
|---|---|---|---|---|---|---|---|---|
| Carole Ben-Maimon | $650,000 | $307,450 | $660,860 | $1,889,160 | $0 | $0 | $18,953 | $3,526,423 |
| President and Chief Executive Officer | ||||||||
| Michael Celano | 505,000 | 173,720 | 291,280 | 709,684 | 0 | 0 | 18,276 | 1,697,960 |
| Chief Financial Officer and Secretary | ||||||||
| Gopi Shankar | 466,003 | 160,305 | 167,139 | 483,839 | 0 | 0 | 16,043 | 1,293,329 |
| Chief Development 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 |
|---|---|---|---|---|
| Carole Ben-Maimon | $3,526,423 | $2,511,649 | $3,137,431 | ↑ +1,014,774 |
| Michael Celano | 1,697,960 | 1,384,705 | 1,418,152 | ↑ +313,255 |
| Gopi Shankar | 1,293,329 | 1,165,126 | — | ↑ +128,203 |
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's compensation philosophy focuses on aligning executive interests with stockholders by making a substantial majority of CEO compensation (approximately 81%) variable and at-risk, linked to the achievement of rigorous, pre-set research, clinical, and regulatory milestones. The program utilizes a mix of stock options, RSUs, and PSUs to incentivize long-term stock price appreciation and retention, ensuring that executives are rewarded only for performance based on key corporate goals.
| CEO STI target (% of salary) | 55% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Aon |
| 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 |
|---|---|---|---|---|---|---|---|
| Gopi Shankar | PRSU | — | — | — | — | — | $167,139 |
| Carole Ben-Maimon | PRSU | — | — | — | — | — | 660,860 |
| Michael Celano | OPTION | — | — | — | — | — | 709,684 |
| Michael Celano | PRSU | — | — | — | — | — | 291,280 |
| Carole Ben-Maimon | OPTION | — | — | — | — | — | 1,889,160 |
| Gopi Shankar | OPTION | — | — | — | — | — | 483,839 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Gopi Shankar | $0 | $0 | $483,839 | 0.0% |
| Carole Ben-Maimon | 0 | 0 | 1,889,160 | 0.0% |
| Michael Celano | 0 | 0 | 709,684 | 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 |
|---|---|---|---|---|
| Michael Celano | Option | 1,667 | 8.75 | — |
| Michael Celano | Option | 2,084 | 2.92 | — |
| Carole Ben-Maimon | Option | 3,792 | 8.75 | — |
| Carole Ben-Maimon | Option | 4,167 | 2.92 | — |
| Carole Ben-Maimon | PSU | 16,532 | — | 62,987 |
| Gopi Shankar | PSU | 16,875 | — | 64,294 |
| Gopi Shankar | PSU | 23,306 | — | 88,796 |
| Michael Celano | PSU | 23,437 | — | 89,295 |
| Gopi Shankar | RSU | 25,000 | — | 95,250 |
| Michael Celano | Option | 32,500 | 4.94 | — |
| Michael Celano | PSU | 34,185 | — | 130,245 |
| Gopi Shankar | Option | 36,871 | 4.21 | — |
| Michael Celano | PSU | 38,000 | — | 144,780 |
| Michael Celano | RSU | 50,000 | — | 190,500 |
| Gopi Shankar | Option | 52,500 | 5.88 | — |
| Carole Ben-Maimon | Option | 88,021 | 4.94 | — |
| Carole Ben-Maimon | PSU | 91,000 | — | 346,710 |
| Michael Celano | Option | 97,657 | 4.21 | — |
| Carole Ben-Maimon | RSU | 100,000 | — | 381,000 |
| Carole Ben-Maimon | PSU | 102,500 | — | 390,525 |
| Gopi Shankar | Option | 139,838 | 3.46 | — |
| Michael Celano | Option | 205,111 | 3.46 | — |
| Carole Ben-Maimon | Option | 206,641 | 4.21 | — |
| Carole Ben-Maimon | Option | 546,000 | 3.46 | — |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Joseph TruittIndependent · Board Chair | $82,500 | — | $27,400 | — | — | $109,900 |
| Frank ThomasIndependent | 55,000 | — | 27,400 | — | — | 82,400 |
| Jonathan LeffIndependent · Compensation · Nominating/Governance (Chair) | 47,500 | — | 27,400 | — | — | 74,900 |
| Thomas E. HamiltonIndependent · Audit | 46,250 | — | 27,400 | — | — | 73,650 |
| Jeffrey W. Sherman, M.D., FACPIndependent · B OARD · NCGC | 38,750 | — | 27,400 | — | — | 66,150 |
| Carole S. Ben-Maimon, M.DEmployee 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 / 7,500 |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $270,000 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $0 |
| Total cost of the board | $270,000 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Larimar Therapeutics as a peer
Companies that benchmark against LRMR
2 companies name LRMR as a compensation peer
- Astria Therapeutics, Inc.ATXSFY2024
- Seres Therapeutics, Inc.MCRBFY2025
Each company listed discloses LRMR 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 LRMR 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 | Larimar Therapeutics | 2025 | Carole Ben-Maimon | $650,000 | $660,860 | $1,889,160 | $0 | $3,526,423 |
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 | 2026-05-19 | 73,822,237 | 1,498,429 | 76,010 | 98.01% | Passed |
| 2025 | 2025-05-13 | 49,187,132 | 1,445,631 | 172,688 | 97.14% | Passed |
| 2024 | 2024-05-29 | 48,754,088 | 2,352,496 | 122,896 | 95.4% | Passed |
| 2023 | 2023-05-09 | 35,507,612 | 337,895 | 55,741 | 99.06% | Passed |
| 2022 | 2022-05-10 | 13,936,241 | 49,830 | 774,980 | 99.64% | Passed |
| 2021 | 2021-05-12 | 11,569,538 | 29,764 | 1,125 | 99.74% | 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 | 2026-05-19 | 98.01%a |
| 2025 | 2025-05-13 | 97.14%b |
| 2024 | 2024-05-29 | 95.4%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) | — |
|---|---|
| CEO total compensation | — |
| Median employee compensation | — |
Insider trades since the proxy
Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Frank Thomas | Director | 2026-05-19 | A | 55,150 | $0 | $0 | Derivative, Class A Common | Form 4 ↗ |
| Jonathan Leff | Director | 2026-05-19 | A | 55,150 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Thomas E. Hamilton | Director | 2026-05-19 | A | 55,150 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Joseph Truitt | Director | 2026-05-19 | A | 55,150 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| James E. Flynn | Director | 2026-05-19 | A | 55,150 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Jeffrey W. Sherman | Director | 2026-05-19 | A | 55,150 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Thomas E. Hamilton | Director | 2026-07-06 | A | 50,000 | 3 | 166,890 | Common | Form 4 ↗ |
| John B. Harlow Jr. | President and COO | 2026-09-29 | A | 800,000 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| John B. Harlow Jr. | President and COO | 2026-09-29 | A | 50,000 | 0 | 0 | Common | Form 4 ↗ |
Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.
Sources (32 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, Carole Ben-Maimon. DEF 14A, filed 2026-04-20. Section “2025 SUMMARY COMPENSATION TABLE” · page 24. As printed: 3,526,423. View filing ↗
- Section 01, Michael Celano. DEF 14A, filed 2026-04-20. Section “2025 SUMMARY COMPENSATION TABLE” · page 24. As printed: 1,697,960. View filing ↗
- Section 01, Gopi Shankar. DEF 14A, filed 2026-04-20. Section “2025 SUMMARY COMPENSATION TABLE” · page 24. As printed: 1,293,329. View filing ↗
- Section 03, Gopi Shankar PRSU. DEF 14A. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Carole Ben-Maimon PRSU. DEF 14A. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Michael Celano OPTION. DEF 14A, filed 2026-04-20. Section “SUMMARY COMPENSATION TABLE” · grants of plan-based awards table. View filing ↗
- Section 03, Michael Celano PRSU. DEF 14A. Section “Executive Compensation” · grants of plan-based awards table.
- Section 03, Carole Ben-Maimon OPTION. DEF 14A, filed 2026-04-20. Section “SUMMARY COMPENSATION TABLE” · grants of plan-based awards table. View filing ↗
- Section 03, Gopi Shankar OPTION. DEF 14A, filed 2026-04-20. Section “SUMMARY COMPENSATION TABLE” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. 10-K, filed 2026-03-19. Section “CEO Pay Ratio”. As printed: —. View filing ↗
- Section 08, Joseph Truitt. DEF 14A, filed 2026-04-20. Section “Director Compensation”. As printed: 109,900. View filing ↗
- Section 08, Frank Thomas. DEF 14A, filed 2026-04-20. Section “Director Compensation”. As printed: 82,400. View filing ↗
- Section 08, Jonathan Leff. DEF 14A, filed 2026-04-20. Section “Director Compensation”. As printed: 74,900. View filing ↗
- Section 08, Thomas E. Hamilton. DEF 14A, filed 2026-04-20. Section “Director Compensation”. As printed: 73,650. View filing ↗
- Section 08, Jeffrey W. Sherman, M.D., FACP. DEF 14A, filed 2026-04-20. Section “Director Compensation”. As printed: 66,150. View filing ↗
- Section 08, Carole S. Ben-Maimon, M.D. DEF 14A, filed 2026-04-20. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 02, Frank Thomas 2026-05-19. Form 4, filed 2026-05-20. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Jonathan Leff 2026-05-19. Form 4, filed 2026-05-20. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Thomas E. Hamilton 2026-05-19. Form 4, filed 2026-05-20. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Joseph Truitt 2026-05-19. Form 4, filed 2026-05-20. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, James E. Flynn 2026-05-19. Form 4, filed 2026-05-20. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Jeffrey W. Sherman 2026-05-19. Form 4, filed 2026-05-20. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Thomas E. Hamilton 2026-07-06. Form 4, filed 2026-07-08. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, John B. Harlow Jr. 2026-09-29. Form 4, filed 2026-10-01. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, John B. Harlow Jr. 2026-09-29. Form 4, filed 2026-10-01. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-05-19. Item 5.07 · say-on-pay result. As reported: 98.01% (votes for as printed: 73,822,237). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-05-13. Item 5.07 · say-on-pay result. As reported: 97.14% (votes for as printed: 49,187,132). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-05-31. Item 5.07 · say-on-pay result. As reported: 95.4% (votes for as printed: 48,754,088). 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 270,000 + equity 0 + all other 0 = 270,000, summed across the director compensation table rows.
- Larimar Therapeutics (subject), Section 10b CEO total. DEF 14A, filed 2026-04-20. CEO total compensation as printed in Larimar Therapeutics's own proxy. As printed: 3,526,423. View filing ↗