Companies Arbutus Biopharma Corp
Arbutus Biopharma (ABUS): executive pay, fiscal 2025
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CEO pay, last three years
- $1,369,013FY2025
CEO total pay was $1,369,013 in fiscal 2025; the brief holds no earlier figure for this CEO.
FY2025: salary $437,750 · bonus $0 · stock awards $0 · option awards $714,751
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 |
|---|---|---|---|---|---|---|---|---|
| Michael McElhaugh | $109,658 | $0 | $582,330 | $1,855,495 | $0 | $0 | $1,030,667 | $3,578,150 |
| Former Interim President and Chief Executive Officer | ||||||||
| Tuan Nguyen | 359,849 | 0 | 0 | 1,879,890 | 159,756 | 0 | 17,500 | 2,416,995 |
| Chief Financial Officer | ||||||||
| David Hastings | 138,613 | 0 | 296,429 | 944,268 | 0 | 0 | 839,052 | 2,218,362 |
| Former Chief Financial Officer | ||||||||
| Lindsay Androski | 437,750 | 0 | 0 | 714,751 | 216,512 | 0 | 0 | 1,369,013 |
| 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 |
|---|---|---|---|---|
| Michael McElhaugh | $3,578,150 | $2,110,083 | $1,620,485 | ↑ +1,468,067 |
| Tuan Nguyen | 2,416,995 | — | — | — |
| David Hastings | 2,218,362 | 1,825,846 | 1,556,806 | ↑ +392,516 |
| Lindsay Androski | 1,369,013 | — | — | — |
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 and motivate executive officers by incentivizing the creation of sustainable long-term shareholder value through the clinical development of drug candidates and the protection of intellectual property. The program does not utilize the Company's financial results as the primary indicator for executive compensation, instead focusing on milestones for lead product candidates and other business objectives.
| CEO STI target (% of salary) | NaN% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Radford (Aon) |
| Clawback policy | The Board adopted the Incentive Compensation Recovery Policy on October 18, 2023, which requires the recovery of erroneously awarded incentive compensation in the event of an accounting restatement. |
| Anti-hedging | Directors, officers, and employees are prohibited from engaging in any hedging or monetization transactions involving the Company's securities. |
| Anti-pledging | Directors, officers, and employees are prohibited from holding the Company's securities in a margin account or pledging them as collateral for a loan. |
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 |
|---|---|---|---|---|---|---|---|
| David Hastings | OPTION | — | — | — | — | — | $944,268 |
| Michael McElhaugh | OPTION | — | — | — | — | — | 1,855,495 |
| David Hastings | RSU | — | — | — | — | — | 296,429 |
| Tuan Nguyen | OPTION | — | — | — | — | — | 1,879,890 |
| Lindsay Androski | OPTION | — | — | — | — | — | 714,751 |
| Michael McElhaugh | RSU | — | — | — | — | — | 582,330 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| David Hastings | $296,429 | $0 | $944,268 | 0.0% |
| Michael McElhaugh | 582,330 | 0 | 1,855,495 | 0.0% |
| Tuan Nguyen | 0 | 0 | 1,879,890 | 0.0% |
| Lindsay Androski | 0 | 0 | 714,751 | 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 |
|---|---|---|---|---|
| Lindsay Androski | Option | 310,422 | 3.2 | — |
| Tuan Nguyen | Option | 750,000 | 3.49 | — |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Robert Alan BeardsleyIndependent · Nominating/Governance · Compensation (Chair) · Audit | $55,098 | — | $362,876 | — | $0 | $417,974 |
| Roger SawhneyIndependent · Nominating/Governance · Audit | 22,559 | — | 365,402 | — | 0 | 387,961 |
| Anuj HasijaIndependent · Departed during FY | 24,277 | — | 362,876 | — | 0 | 387,153 |
| Frank TortiIndependent · Departed during FY | 12,568 | — | 0 | — | 0 | 12,568 |
| James MeyersIndependent · Departed during FY | 10,664 | — | 0 | — | 0 | 10,664 |
| Richard C. HenriquesIndependent · Departed during FY | 10,283 | — | 0 | — | 0 | 10,283 |
| Daniel BurgessIndependent · Departed during FY | 8,379 | — | 0 | — | 0 | 8,379 |
| Keith ManchesterIndependent · Departed during FY | 7,617 | — | 0 | — | 0 | 7,617 |
| Melissa V. RewolinskiIndependent · Departed during FY | 7,236 | — | 0 | — | 0 | 7,236 |
| Joseph BishopIndependent · Nominating/Governance · Audit (Chair) · Compensation | 0 | — | 0 | — | 0 | 0 |
| Michael J. McElhaughEmployee director · Departed during FY | 0 | 0 | 0 | — | 0 | 0 |
| Matthew GlineIndependent · Nominating/Governance (Chair) · Compensation | 0 | — | 0 | — | 0 | 0 |
| Lindsay AndroskiEmployee director · Board Chair | — | — | — | — | — | 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) | 20,000 / 15,000 / 10,000 |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $158,681 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $0 |
| Total cost of the board | $158,681 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Arbutus Biopharma as a peer
Companies that benchmark against ABUS
4 companies name ABUS as a compensation peer
- Altimmune, Inc.ALTFY2025
- ASSEMBLY BIOSCIENCES, INC.ASMBFY2025
- Atea Pharmaceuticals, Inc.AVIRFY2025
- LEXICON PHARMACEUTICALS, INC.LXRXFY2025
Each company listed discloses ABUS 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 ABUS 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 | Arbutus Biopharma Corp | 2025 | Lindsay Androski | $437,750 | $0 | $714,751 | $216,512 | $1,369,013 |
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 | 2026-05-26 | 137,629,207 | 8,331,760 | 512,660 | 94.29% | Passed |
| 2025 | 2025-05-21 | 122,791,749 | 6,976,561 | 347,547 | 94.62% | Passed |
| 2024 | 2024-05-22 | 99,284,557 | 13,548,318 | 9,771,548 | 87.99% | Passed |
| 2023 | 2023-05-24 | 85,552,303 | 8,211,196 | 1,055,983 | 91.24% | Passed |
| 2022 | 2022-05-25 | 71,034,911 | 5,946,818 | 461,310 | 92.28% | Passed |
| 2021 | 2021-05-26 | 34,997,409 | 2,754,917 | 368,089 | 92.7% | 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 | 2026-05-26 | 94.29%a |
| 2025 | 2025-05-21 | 94.62%b |
| 2024 | 2024-05-22 | 87.99%c |
a. Approved under the standard stated in the filing — “Broker non-votes and abstentions will have no effect on the outcome of this Proposal No.”.
b. Approved under the standard stated in the filing — “Broker non-votes and abstentions will have no effect on the outcome of this Proposal No.”.
c. Approved under the standard stated in the filing — “" Broker non-votes and abstentions will have no effect on the outcome of this Proposal No.”.
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 |
|---|---|---|---|---|---|---|---|---|
| Roger Sawhney | Director | 2026-06-08 | A | 78,800 | $0 | $0 | Derivative, Class A Common | Form 4 ↗ |
| Robert Alan Beardsley | Director | 2026-06-08 | A | 78,800 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Roger Sawhney | Director | 2026-09-18 | D | 78,800 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Roger Sawhney | Director | 2026-09-18 | D | 52,533 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Roger Sawhney | Director | 2026-09-18 | D | 100,508 | 5 | 509,576 | Common | Form 4 ↗ |
| Tuan Nguyen | Chief Financial Officer | 2026-09-18 | D | 27,475 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Lindsay Androski | Director | 2026-09-18 | A | 10,456 | 4 | 45,902 | Common | Form 4 ↗ |
| Roger Sawhney | Director | 2026-09-18 | A | 52,533 | 3 | 175,460 | Common | Form 4 ↗ |
| Tuan Nguyen | Chief Financial Officer | 2026-09-18 | D | 206,637 | 5 | 1,047,650 | Common | Form 4 ↗ |
| Robert Alan Beardsley | Director | 2026-09-18 | D | 78,800 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Tuan Nguyen | Chief Financial Officer | 2026-09-18 | A | 265,625 | 3 | 927,031 | Common | Form 4 ↗ |
| Tuan Nguyen | Chief Financial Officer | 2026-09-18 | A | 27,475 | 4 | 120,615 | Common | Form 4 ↗ |
| Robert Alan Beardsley | Director | 2026-09-18 | D | 52,533 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Robert Alan Beardsley | Director | 2026-09-18 | D | 99,057 | 5 | 502,219 | Common | Form 4 ↗ |
| Robert Alan Beardsley | Director | 2026-09-18 | A | 78,800 | 4 | 334,112 | Common | Form 4 ↗ |
| Robert Alan Beardsley | Director | 2026-09-18 | A | 52,533 | 3 | 168,106 | Common | Form 4 ↗ |
| Lindsay Androski | Director | 2026-09-18 | D | 116,408 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Lindsay Androski | Director | 2026-09-18 | D | 82,527 | 5 | 418,412 | Common | Form 4 ↗ |
| Lindsay Androski | Director | 2026-09-18 | A | 116,408 | 3 | 372,506 | Common | Form 4 ↗ |
| Roger Sawhney | Director | 2026-09-18 | A | 78,800 | 4 | 334,112 | Common | Form 4 ↗ |
| Tuan Nguyen | Chief Financial Officer | 2026-09-18 | D | 265,625 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Lindsay Androski | Director | 2026-09-18 | D | 10,456 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Roger Sawhney | Director | 2026-10-01 | D | 17,142 | 5 | 85,710 | Common | Form 4 ↗ |
| Tuan Nguyen | Chief Financial Officer | 2026-10-01 | D | 48,081 | 5 | 240,405 | Common | Form 4 ↗ |
| Lindsay Androski | Director | 2026-10-01 | D | 24,655 | 5 | 123,275 | Common | Form 4 ↗ |
| Robert Alan Beardsley | Director | 2026-10-01 | D | 17,948 | 5 | 89,740 | Common | Form 4 ↗ |
| Roivant Sciences Ltd. | Director | 2026-10-01 | D | 8,967,383 | 5 | 44,836,915 | 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 (58 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, Michael McElhaugh. DEF 14A, filed 2026-04-14. Section “Executive Compensation” · page 31. As printed: 3,578,150. View filing ↗
- Section 01, Tuan Nguyen. DEF 14A, filed 2026-04-14. Section “Executive Compensation”. As printed: 2,416,995. View filing ↗
- Section 01, David Hastings. DEF 14A, filed 2026-04-14. Section “Executive Compensation”. As printed: 2,218,362. View filing ↗
- Section 01, Lindsay Androski. DEF 14A, filed 2026-04-14. Section “Executive Compensation”. As printed: 1,369,013. View filing ↗
- Section 03, David Hastings OPTION. DEF 14A, filed 2026-04-14. Section “TABLE OF CONTENTS EXECUTIVE COMPENSATION” · grants of plan-based awards table. View filing ↗
- Section 03, Michael McElhaugh OPTION. DEF 14A, filed 2026-04-14. Section “TABLE OF CONTENTS EXECUTIVE COMPENSATION” · grants of plan-based awards table. View filing ↗
- Section 03, David Hastings RSU. DEF 14A, filed 2026-04-14. Section “TABLE OF CONTENTS EXECUTIVE COMPENSATION” · grants of plan-based awards table. View filing ↗
- Section 03, Tuan Nguyen OPTION. DEF 14A, filed 2026-04-14. Section “TABLE OF CONTENTS EXECUTIVE COMPENSATION” · grants of plan-based awards table. View filing ↗
- Section 03, Lindsay Androski OPTION. DEF 14A, filed 2026-04-14. Section “TABLE OF CONTENTS EXECUTIVE COMPENSATION” · grants of plan-based awards table. View filing ↗
- Section 03, Michael McElhaugh RSU. DEF 14A, filed 2026-04-14. Section “TABLE OF CONTENTS EXECUTIVE COMPENSATION” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. 10-K, filed 2026-03-23. Section “CEO Pay Ratio”. As printed: —. View filing ↗
- Section 08, Robert Alan Beardsley. DEF 14A, filed 2026-04-14. Section “Director Compensation”. As printed: 417,974. View filing ↗
- Section 08, Roger Sawhney. DEF 14A, filed 2026-04-14. Section “Director Compensation”. As printed: 387,961. View filing ↗
- Section 08, Anuj Hasija. DEF 14A, filed 2026-04-14. Section “Director Compensation”. As printed: 387,153. View filing ↗
- Section 08, Frank Torti. DEF 14A, filed 2026-04-14. Section “Director Compensation”. As printed: 12,568. View filing ↗
- Section 08, James Meyers. DEF 14A, filed 2026-04-14. Section “Director Compensation”. As printed: 10,664. View filing ↗
- Section 08, Richard C. Henriques. DEF 14A, filed 2026-04-14. Section “Director Compensation”. As printed: 10,283. View filing ↗
- Section 08, Daniel Burgess. DEF 14A, filed 2026-04-14. Section “Director Compensation”. As printed: 8,379. View filing ↗
- Section 08, Keith Manchester. DEF 14A, filed 2026-04-14. Section “Director Compensation”. As printed: 7,617. View filing ↗
- Section 08, Melissa V. Rewolinski. DEF 14A, filed 2026-04-14. Section “Director Compensation”. As printed: 7,236. View filing ↗
- Section 08, Joseph Bishop. DEF 14A, filed 2026-04-14. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, Michael J. McElhaugh. DEF 14A, filed 2026-04-14. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, Matthew Gline. DEF 14A, filed 2026-04-14. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, Lindsay Androski. DEF 14A, filed 2026-04-14. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 02, Roger Sawhney 2026-06-08. Form 4, filed 2026-06-10. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Robert Alan Beardsley 2026-06-08. Form 4, filed 2026-06-10. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Roger Sawhney 2026-09-18. Form 4, filed 2026-09-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Roger Sawhney 2026-09-18. Form 4, filed 2026-09-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Roger Sawhney 2026-09-18. Form 4, filed 2026-09-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Tuan Nguyen 2026-09-18. Form 4, filed 2026-09-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Lindsay Androski 2026-09-18. Form 4, filed 2026-09-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Roger Sawhney 2026-09-18. Form 4, filed 2026-09-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Tuan Nguyen 2026-09-18. Form 4, filed 2026-09-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Robert Alan Beardsley 2026-09-18. Form 4, filed 2026-09-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Tuan Nguyen 2026-09-18. Form 4, filed 2026-09-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Tuan Nguyen 2026-09-18. Form 4, filed 2026-09-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Robert Alan Beardsley 2026-09-18. Form 4, filed 2026-09-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Robert Alan Beardsley 2026-09-18. Form 4, filed 2026-09-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Robert Alan Beardsley 2026-09-18. Form 4, filed 2026-09-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Robert Alan Beardsley 2026-09-18. Form 4, filed 2026-09-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Lindsay Androski 2026-09-18. Form 4, filed 2026-09-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Lindsay Androski 2026-09-18. Form 4, filed 2026-09-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Lindsay Androski 2026-09-18. Form 4, filed 2026-09-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Roger Sawhney 2026-09-18. Form 4, filed 2026-09-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Tuan Nguyen 2026-09-18. Form 4, filed 2026-09-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Lindsay Androski 2026-09-18. Form 4, filed 2026-09-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Roger Sawhney 2026-10-01. Form 4, filed 2026-10-07. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Tuan Nguyen 2026-10-01. Form 4, filed 2026-10-07. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Lindsay Androski 2026-10-01. Form 4, filed 2026-10-07. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Robert Alan Beardsley 2026-10-01. Form 4, filed 2026-10-07. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Roivant Sciences Ltd. 2026-10-01. Form 4, filed 2026-10-05. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-05-27. Item 5.07 · say-on-pay result. As reported: 94.29% (votes for as printed: 137,629,207). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-05-23. Item 5.07 · say-on-pay result. As reported: 94.62% (votes for as printed: 122,791,749). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-05-28. Item 5.07 · say-on-pay result. As reported: 87.99% (votes for as printed: 99,284,557). 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 158,681 + equity 0 + all other 0 = 158,681, summed across the director compensation table rows.
- Arbutus Biopharma Corp (subject), Section 10b CEO total. DEF 14A, filed 2026-04-14. CEO total compensation as printed in Arbutus Biopharma Corp's own proxy. As printed: 1,369,013. View filing ↗