Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-01

Akebia Therapeutics, Inc. (AKBA)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$5,652,339
John Butler total, FY2025
84th
CEO pay percentile vs peers
21:1
CEO-to-median pay ratio
63.73%
Say-on-pay support, latest vote
Companies that benchmark against AKBA
6 companies name AKBA as a compensation peer

Each company listed discloses AKBA 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 AKBA in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
John Butler$864,010$0$2,164,338$2,024,798$580,973$0$18,220$5,652,339
President and Chief Executive Officer
Steven Burke600,5380436,576562,915242,286017,5001,859,815
Senior Vice President, Chief Research & Development and Medical Officer
Erik Ostrowski552,9190436,576562,915223,074016,8771,792,361
Senior Vice President, Chief Financial Officer, Chief Business Officer and Treasurer
Nicholas Grund506,7420436,576562,915204,672017,5001,728,405
Senior Vice President, Chief Commercial 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 officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
John Butler$5,652,339$4,260,114$2,775,123+1,392,225
Steven Burke1,859,8151,811,0271,213,048+48,788
Erik Ostrowski1,792,3611,215,122+577,239
Nicholas Grund1,728,4051,854,631−126,226

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

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.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Myles WolfDirector2026-06-17A53,600$0$0Derivative, Class A CommonForm 4 ↗
Michael RogersDirector2026-06-17A35,70000RSUForm 4 ↗
LeAnne M. ZumwaltDirector2026-06-17A53,60000Derivative, Class A CommonForm 4 ↗
Adrian AdamsDirector2026-06-17A35,70000RSUForm 4 ↗
Cynthia SmithDirector2026-06-17A53,60000Derivative, Class A CommonForm 4 ↗
Ronald E. FriesonDirector2026-06-17A35,70000RSUForm 4 ↗
LeAnne M. ZumwaltDirector2026-06-17A35,70000RSUForm 4 ↗
Myles WolfDirector2026-06-17A35,70000RSUForm 4 ↗
Cynthia SmithDirector2026-06-17A35,70000RSUForm 4 ↗
Michael RogersDirector2026-06-17A53,60000Derivative, Class A CommonForm 4 ↗
Ronald E. FriesonDirector2026-06-17A53,60000Derivative, Class A CommonForm 4 ↗
Adrian AdamsDirector2026-06-17A53,60000Derivative, Class A CommonForm 4 ↗
Erik OstrowskiSVP, CFO, CBO & Treasurer2026-06-29D56,019162,181CommonForm 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.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Erik OstrowskiRSU2025-01-31194,900$436,576
Steven BurkeRSU2025-01-31194,900436,576
Nicholas GrundRSU2025-01-31194,900436,576
John ButlerRSU2025-01-31701,0001,570,240
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Erik Ostrowski$436,576$0$00.0%
Steven Burke436,576000.0%
Nicholas Grund436,576000.0%
John Butler1,570,240000.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Erik OstrowskiRSU428,234$689,457
Steven BurkeOption292,3002.24
Steven BurkeOption14,0682.16
John ButlerOption46,2342.16
Erik OstrowskiOption292,3002.24
Steven BurkeOption170,6071.68
John ButlerOption471,9770.63
John ButlerRSU1,201,0431,933,679
Nicholas GrundRSU397,100639,331
Steven BurkeRSU395,100636,111
John ButlerRSU175,250282,153
Erik OstrowskiOption312,5001.02
Nicholas GrundOption292,3002.24
John ButlerPSU175,250282,153
John ButlerOption509,1751.68
John ButlerOption1,051,4002.24
Steven BurkeOption91,9740.63
Nicholas GrundOption255,9111.68
05

Incentive-plan design — the Compensation Discussion & Analysis

Our named executive officer compensation policies and programs were designed to pay for performance that reflects the Company's mission and core values. Within this overarching principle, there are a number of key objectives underpinning our 2025 named executive officer compensation program: Attract and retain individuals who we believe best represent our core values and can make significant contributions towards achieving our purpose of bettering the life of each person impacted by kidney disease; Motivate and reward individuals for attaining corporate performance goals that support our purpose; and Foster long-term alignment of executive officer, stockholder and other stakeholder interests.

CEO STI target (% of salary)75%
CEO LTI target (% of salary)
Independent consultantPearl Meyer
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-1789,838,83351,140,0102,374,05763.73%Passed
20252025-06-10110,676,71839,006,9901,447,25173.94%Passed
20242024-06-0648,857,95947,361,8772,223,56750.78%Passed
20232023-06-0859,695,03824,230,548589,01371.13%Passed
20222022-06-0854,224,14110,859,388362,44983.31%Passed
20212021-06-0254,907,22619,769,560494,90473.53%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 yearMeeting dateApproval — company's computation
20262026-06-1763.73%a
20252025-06-1073.94%b
20242024-06-0650.78%c

a. Approved under the standard stated in the filing — “3 How many votes are required for approval of different matters and what are the Board of Directors' recommendations on how to vote my shares? Proposal Voting Options Votes Required Effect of Abstentions Effect of Broker Non-Votes Board Recommendations Election of Three Class III Directors (Proposal 1) For All/ Withhold All/ For All Except Plurality of votes cast (1) No effect No effect FOR ALL Approval of an amendment to the Restated Certificate of Incorporation to (i) increase the number of authorized shares of capital stock from 375,000,000 to 525,000,000 and (ii) increase the number of authorized shares of Common Stock from 350,000,000 to 500,000,000 (Proposal 2) For/Against/ Abstain Majority of votes cast No effect No effect (4) FOR Advisory Vote on Compensation of Named Executive Officers (Proposal 3) (2) For/Against/ Abstain Majority of votes cast No effect No effect FOR Advisory Vote on the Frequency of the Advisory Vote on Executive Compensation (Proposal 4) (2) One Year/Two Years/Three Years/Abstain Majority of votes cast (3) No effect No effect One Year Ratification of Selection of Independent Registered Public Accounting Firm (Proposal 5) For/Against/Abstain Majority of votes cast No effect No effect (4) FOR (1) A vote to withhold will have no effect on the outcome of Proposal 1.”.

b. Approved under the standard stated in the filing — “3 How many votes are required for approval of different matters and what are the Board of Directors' recommendations on how to vote my shares? Proposal Voting Options Votes Required Effect of Abstentions Effect of Broker Non-Votes Board Recommendations Election of Two Class II Directors (Proposal 1) For All/ Withhold All/ For All Except Plurality of votes cast (1) No effect No effect FOR ALL Approval of an amendment to the Akebia Therapeutics, Inc.”.

c. Approved under the standard stated in the filing — “3 How many votes are required for approval of different matters and what are the Board of Directors' recommendations on how to vote my shares? Proposal Voting Options Votes Required Effect of Abstentions Effect of Broker Non-Votes Board Recommendations Election of Three Class I Directors (Proposal 1) For All/ Withhold All/ For All Except Plurality of votes cast (1) No effect No effect FOR ALL Approval of an amendment to the Akebia Therapeutics, Inc.”.

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.

07

CEO pay ratio

Ratio (CEO : median employee)21 : 1
CEO total compensation$5,652,339
Median employee compensation$270,410
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Adrian AdamsIndependent · Board Chair · Compensation$92,500$139,944$182,582$0$415,026
Cynthia SmithIndependent · Compensation (Chair) · Research & Development70,000139,944182,5820392,526
Michael RogersIndependent · Audit (Chair)70,000139,944182,5820392,526
Ronald E. FriesonIndependent · Audit · Nominating and Corporate Governance (Chair)70,000139,944182,5820392,526
Myles WolfIndependent · Nominating and Corporate Governance · Research & Development (Chair)65,000139,944182,5820387,526
LeAnne M. ZumwaltIndependent · Audit · Nominating and Corporate Governance65,000139,944182,5820387,526
Steven C. GilmanIndependent · Compensation · Research & Development · Departed during FY62,500139,944182,5820385,026
John P. ButlerEmployee director00000
Philip J. VickersIndependent · Compensation · Research & Development · Newly elected00000
09

Board fee structure and ownership guideline

Annual cash retainer$50,000
Annual equity retainer$322,526
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)20,000 / 15,000 / 10,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$495,000
Equity awards (grant-date value)$979,608
All other compensation$0
Total cost of the board$1,474,608

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Akebia Therapeutics, Inc. names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Akebia Therapeutics, Inc..

10b

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.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Ocular Therapeutix, Inc.2025Pravin Dugel$819,200$18,608,000$15,567,000$0$35,946,958
2Ardelyx, Inc.2025Michael Raab797,0002,953,7243,413,948627,6387,796,171
3Evolus, Inc.2025David Moatazedi775,0003,886,5691,296,697429,0006,412,214
4Akebia Therapeutics, Inc.2025John Butler864,0102,164,3382,024,798580,9735,652,339
5Xeris Biopharma Holdings, Inc.2025John Shannon742,3342,848,000838,615607,9715,042,584
6Rigel Pharmaceuticals, Inc.2025Raul Rodriguez787,405951,3272,241,570634,6494,658,805
7Y-mAbs Therapeutics, Inc.2024Michael Rossi705,6001,170,7322,288,662392,5964,557,590
8UroGen Pharma Ltd.2025Elizabeth Barrett855,5902,122,2110516,2634,310,624
9Vanda Pharmaceuticals Inc.2025Mihael Polymeropoulos965,6552,007,0000834,3263,851,468
10Esperion Therapeutics, Inc.2025Sheldon Koenig770,8331,260,000847,929639,3753,535,512
11Heron Therapeutics, Inc.2025Craig Collard689,431946,2541,352,917517,1893,516,291
12uniQure N.V.2025Matthew Kapusta676,1701,079,1001,155,960345,1173,287,434
13Puma Biotechnology, Inc.2025Alan Auerbach931,333551,549535,5131,027,3073,062,337
14Enanta Pharmaceuticals, Inc.2025Jay Luly803,300128,5501,223,975591,6652,769,548
15Coherus BioSciences, Inc.2025Dennis Lanfear1,026,5450828,130869,2952,736,874
16OptiNose, Inc.2023Ramy Mahmoud646,994637,075656,245454,7402,414,265
17Karyopharm Therapeutics Inc.2025Richard Paulson770,000838,996241,544350,3502,320,902
18MacroGenics, Inc.2025Eric Risser561,56852,0001,049,386251,9002,078,854
19Collegium Pharmaceutical, Inc.2025Vikram Karnani875,00000835,4061,715,846
20Theravance Biopharma, Inc.2025Rick Winningham1,047,43100419,1821,472,019
Marinus Pharmaceuticals, Inc.not in coverage universe

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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Akebia Therapeutics, Inc.90%Options 50 · RSU 25 · MSU 25NoPearl Meyer
Ardelyx, Inc.105%Options 50 · RSU 50not disclosedPearl Meyer
Coherus BioSciences, Inc.not disclosedOptions 100not disclosedAon
Collegium Pharmaceutical, Inc.127.3%RSU 70 · PSU 30Yes — relative ranking of the total shareholder return (TSR) of the Company's common stock in 2025, 2026, 2027 and the cumulative three-year performance period (2025-2027) return relative to the TSR of peer companies within the S&P Pharmaceutical Select Industry IndexAlpine Rewards, LLC
Enanta Pharmaceuticals, Inc.not disclosedOptions 80 · PSU 10 · MSU 10NoAlpine Rewards LLC
Esperion Therapeutics, Inc.110%not disclosednot disclosednot disclosed
Evolus, Inc.55%not disclosedNoRadford, an Aon Company
Heron Therapeutics, Inc.100%Options 67 · RSU 33not disclosedCompensia, Inc.
Karyopharm Therapeutics Inc.90%not disclosedYes — Relative TSRAlpine Rewards, LLC (through September 2025); Willis Towers Watson (beginning August 2025)
MacroGenics, Inc.85%not disclosednot disclosedAlpine Rewards, LLC
Marinus Pharmaceuticals, Inc.not disclosednot disclosednot disclosednot disclosed
Ocular Therapeutix, Inc.145%not disclosedNoAon
OptiNose, Inc.not disclosednot disclosednot disclosedPearl Meyer & Partners, LLC
Puma Biotechnology, Inc.169.7%Options 50 · RSU 50not disclosedCompensia
Rigel Pharmaceuticals, Inc.124%Options 75 · RSU 25NoPearl Meyer
Theravance Biopharma, Inc.not disclosedRSU 100not disclosedFrederic W. Cook & Co. (FW Cook)
uniQure N.V.not disclosedOptions 50 · RSU 50NoWTW (Willis Towers Watson)
UroGen Pharma Ltd.80%RSU 50 · PSU 50NoCompensia, Inc.
Vanda Pharmaceuticals Inc.108%not disclosedYes — Relative TSRWillis Towers Watson
Xeris Biopharma Holdings, Inc.125%not disclosednot disclosedAon Consulting, Inc.
Y-mAbs Therapeutics, Inc.85.6%PSU 34 · Options 33 · RSU 33NoAon's Human Capital Solutions practice (division of Aon plc)

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

FAQ

Frequently asked questions

Who was the highest-paid executive at Akebia Therapeutics, Inc. in fiscal 2025?
The highest-paid executive at Akebia Therapeutics, Inc. in fiscal 2025 was John Butler, who served as President and Chief Executive Officer with total compensation of $5,652,339.
How does Akebia Therapeutics, Inc.'s chief executive pay compare to its disclosed peer group?
As disclosed, the CEO pay percentile of disclosed peers was 84th.
What is Akebia Therapeutics, Inc.'s CEO-to-median employee pay ratio?
The CEO-to-median employee pay ratio was 21:1.
How did shareholders vote on Akebia Therapeutics, Inc.'s executive compensation?
Shareholders voted 63.73% in support of the latest executive compensation proposal.
How much does Akebia Therapeutics, Inc. spend in total on board compensation for fiscal 2025?
The total board compensation for fiscal 2025 was $1,474,608.

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.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, John ButlerDEF 14A2026-04-280001517022-26-000034Section “2025 Summary Compensation Table”. As printed: 5,652,339. Filing ↗machine: r3 · c39 · span 516847–516856
2Section 01, Steven BurkeDEF 14A2026-04-280001517022-26-000034Section “2025 Summary Compensation Table”. As printed: 1,859,815. Filing ↗machine: r12 · c39 · span 531406–531415
3Section 01, Erik OstrowskiDEF 14A2026-04-280001517022-26-000034Section “2025 Summary Compensation Table”. As printed: 1,792,361. Filing ↗machine: r9 · c39 · span 526292–526301
4Section 01, Nicholas GrundDEF 14A2026-04-280001517022-26-000034Section “2025 Summary Compensation Table”. As printed: 1,728,405. Filing ↗machine: r17 · c39 · span 539899–539908
5Section 03, Erik Ostrowski RSUDEF 14A2026-04-280001517022-26-000034Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t18 · r9 · c6 · span 525348–525355
6Section 03, Steven Burke RSUDEF 14A2026-04-280001517022-26-000034Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t18 · r12 · c6 · span 530287–530294
7Section 03, Nicholas Grund RSUDEF 14A2026-04-280001517022-26-000034Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t18 · r17 · c6 · span 538955–538962
8Section 03, John Butler RSUDEF 14A2026-04-280001517022-26-000034Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t17 · r2 · c2 · span 490264–490271
9Section 07, pay ratioDEF 14A2026-04-280001517022-26-000034Section “CEO Pay Ratio”. As printed: 21 : 1. Filing ↗machine: span 797140–797142
10Section 08, Adrian AdamsDEF 14A2026-04-280001517022-26-000034Section “Director Compensation”. As printed: 415,026. Filing ↗machine: t9 · r2 · c5 · span 310432–310439
11Section 08, Cynthia SmithDEF 14A2026-04-280001517022-26-000034Section “Director Compensation”. As printed: 392,526. Filing ↗machine: t9 · r6 · c5 · span 316324–316331
12Section 08, Michael RogersDEF 14A2026-04-280001517022-26-000034Section “Director Compensation”. As printed: 392,526. Filing ↗machine: t9 · r5 · c5 · span 314846–314853
13Section 08, Ronald E. FriesonDEF 14A2026-04-280001517022-26-000034Section “Director Compensation”. As printed: 392,526. Filing ↗machine: t9 · r3 · c5 · span 311914–311921
14Section 08, Myles WolfDEF 14A2026-04-280001517022-26-000034Section “Director Compensation”. As printed: 387,526. Filing ↗machine: t9 · r7 · c5 · span 317835–317842
15Section 08, LeAnne M. ZumwaltDEF 14A2026-04-280001517022-26-000034Section “Director Compensation”. As printed: 387,526. Filing ↗machine: t9 · r8 · c5 · span 319317–319324
16Section 08, Steven C. GilmanDEF 14A2026-04-280001517022-26-000034Section “Director Compensation”. As printed: 385,026. Filing ↗machine: t9 · r4 · c5 · span 313402–313409
17Section 08, John P. ButlerDEF 14A2026-04-280001517022-26-000034Section “Director Compensation”. As printed: 0. Filing ↗
18Section 08, Philip J. VickersDEF 14A2026-04-280001517022-26-000034Section “Director Compensation”. As printed: 0. Filing ↗
19Section 02, Myles Wolf 2026-06-17Form 42026-06-220001808317-26-000001Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, Michael Rogers 2026-06-17Form 42026-06-220001244159-26-000001Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, LeAnne M. Zumwalt 2026-06-17Form 42026-06-220001204946-26-000001Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Adrian Adams 2026-06-17Form 42026-06-220001248144-26-000001Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Cynthia Smith 2026-06-17Form 42026-06-220001609480-26-000003Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Ronald E. Frieson 2026-06-17Form 42026-06-220001890219-26-000001Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, LeAnne M. Zumwalt 2026-06-17Form 42026-06-220001204946-26-000001Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Myles Wolf 2026-06-17Form 42026-06-220001808317-26-000001Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Cynthia Smith 2026-06-17Form 42026-06-220001609480-26-000003Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Michael Rogers 2026-06-17Form 42026-06-220001244159-26-000001Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Ronald E. Frieson 2026-06-17Form 42026-06-220001890219-26-000001Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Adrian Adams 2026-06-17Form 42026-06-220001248144-26-000001Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Erik Ostrowski 2026-06-29Form 42026-07-010001762507-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
32Section 06, 2026 voteForm 8-K2026-06-220001517022-26-000043Item 5.07 · say-on-pay result. As reported: 63.73% (votes for as printed: 89,838,833). Filing ↗
33Section 06, 2025 voteForm 8-K2025-06-130001517022-25-000030Item 5.07 · say-on-pay result. As reported: 73.94% (votes for as printed: 110,676,718). Filing ↗
34Section 06, 2024 voteForm 8-K2024-06-100001517022-24-000057Item 5.07 · say-on-pay result. As reported: 50.78% (votes for as printed: 48,857,959). Filing ↗
35Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
36Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
37Section 09b board cost (computed)ComputedcomputedCash 495,000 + equity 979,608 + all other 0 = 1,474,608, summed across the director compensation table rows.machine: formula: Σ = 1,474,608
38Ocular Therapeutix, Inc., Section 10b CEO totalDEF 14A2026-04-300001104659-26-053176CEO total compensation as printed in Ocular Therapeutix, Inc.'s own proxy. As printed: 35,946,958. Filing ↗machine: t128 · r3 · c15 · span 574379–574389
39Ardelyx, Inc., Section 10b CEO totalDEF 14A2026-04-290001140361-26-017800CEO total compensation as printed in Ardelyx, Inc.'s own proxy. As printed: 7,796,171. Filing ↗machine: r2 · c25 · span 677112–677121
40Evolus, Inc., Section 10b CEO totalDEF 14A2026-04-290001570562-26-000059CEO total compensation as printed in Evolus, Inc.'s own proxy. As printed: 6,412,214. Filing ↗machine: span 499358–499367
41Akebia Therapeutics, Inc. (subject), Section 10b CEO totalDEF 14A2026-04-280001517022-26-000034CEO total compensation as printed in Akebia Therapeutics, Inc.'s own proxy. As printed: 5,652,339. Filing ↗machine: r3 · c39 · span 516847–516856
42Xeris Biopharma Holdings, Inc., Section 10b CEO totalDEF 14A2026-04-230001867096-26-000021CEO total compensation as printed in Xeris Biopharma Holdings, Inc.'s own proxy. As printed: 5,042,584. Filing ↗machine: r3 · c42 · span 463532–463541
43Rigel Pharmaceuticals, Inc., Section 10b CEO totalDEF 14A2026-04-030001034842-26-000023CEO total compensation as printed in Rigel Pharmaceuticals, Inc.'s own proxy. As printed: 4,658,805. Filing ↗machine: t120 · r3 · c22 · span 886059–886068
44Y-mAbs Therapeutics, Inc., Section 10b CEO totalDEF 14A2025-05-300001558370-25-008299CEO total compensation as printed in Y-mAbs Therapeutics, Inc.'s own proxy. As printed: 4,557,590. Filing ↗machine: t100 · r5 · c23 · span 597595–597604
45UroGen Pharma Ltd., Section 10b CEO totalDEF 14A2026-04-300001437749-26-014237CEO total compensation as printed in UroGen Pharma Ltd.'s own proxy. As printed: 4,310,624. Filing ↗machine: r1 · c29 · span 562926–562935
46Vanda Pharmaceuticals Inc., Section 10b CEO totalDEF 14A2026-04-230001628280-26-026893CEO total compensation as printed in Vanda Pharmaceuticals Inc.'s own proxy. As printed: 3,851,468. Filing ↗machine: span 563696–563705
47Esperion Therapeutics, Inc., Section 10b CEO totalDEF 14A2026-04-160001628280-26-025499CEO total compensation as printed in Esperion Therapeutics, Inc.'s own proxy. As printed: 3,535,512. Filing ↗machine: span 423838–423847
48Heron Therapeutics, Inc., Section 10b CEO totalDEF 14A2026-04-300001193125-26-196306CEO total compensation as printed in Heron Therapeutics, Inc.'s own proxy. As printed: 3,516,291. Filing ↗machine: span 728212–728221
49uniQure N.V., Section 10b CEO totalDEF 14A2026-04-270001104659-26-048969CEO total compensation as printed in uniQure N.V.'s own proxy. As printed: 3,287,434. Filing ↗machine: t139 · r2 · c16 · span 1000603–1000612
50Puma Biotechnology, Inc., Section 10b CEO totalDEF 14A2026-04-280001437749-26-013671CEO total compensation as printed in Puma Biotechnology, Inc.'s own proxy. As printed: 3,062,337. Filing ↗machine: t56 · r1 · c29 · span 540970–540979
51Enanta Pharmaceuticals, Inc., Section 10b CEO totalDEF 14A2026-01-260001193125-26-022558CEO total compensation as printed in Enanta Pharmaceuticals, Inc.'s own proxy. As printed: 2,769,548. Filing ↗machine: r2 · c16 · span 830357–830366
52Coherus BioSciences, Inc., Section 10b CEO totalDEF 14A2026-04-200001104659-26-045251CEO total compensation as printed in Coherus BioSciences, Inc.'s own proxy. As printed: 2,736,874. Filing ↗machine: t112 · r5 · c14 · span 540087–540096
53OptiNose, Inc., Section 10b CEO totalDEF 14A2024-04-260001494650-24-000047CEO total compensation as printed in OptiNose, Inc.'s own proxy. As printed: 2,414,265. Filing ↗machine: r2 · c48 · span 415104–415113
54Karyopharm Therapeutics Inc., Section 10b CEO totalDEF 14A2026-04-130001503802-26-000023CEO total compensation as printed in Karyopharm Therapeutics Inc.'s own proxy. As printed: 2,320,902. Filing ↗machine: r2 · c29 · span 1192339–1192348
55MacroGenics, Inc., Section 10b CEO totalDEF 14A2026-04-080001125345-26-000021CEO total compensation as printed in MacroGenics, Inc.'s own proxy. As printed: 2,078,854. Filing ↗machine: r2 · c57 · span 494189–494198
56Collegium Pharmaceutical, Inc., Section 10b CEO totalDEF 14A2026-04-070001628280-26-024063CEO total compensation as printed in Collegium Pharmaceutical, Inc.'s own proxy. As printed: 1,715,846. Filing ↗machine: r2 · c48 · span 779394–779403
57Theravance Biopharma, Inc., Section 10b CEO totalDEF 14A2026-04-280001104659-26-050454CEO total compensation as printed in Theravance Biopharma, Inc.'s own proxy. As printed: 1,472,019. Filing ↗machine: r1 · c41 · span 475558–475567
58Section 10a, Xeris Biopharma Holdings, Inc. reciprocityDEF 14A0001867096-26-000021Xeris Biopharma Holdings, Inc.'s most recent proxy was read; its disclosed peer group does not include Akebia Therapeutics, Inc.. Filing ↗
59Section 10a, MacroGenics, Inc. reciprocityDEF 14A0001125345-26-000021MacroGenics, Inc.'s most recent proxy was read; its disclosed peer group does not include Akebia Therapeutics, Inc.. Filing ↗
60Section 10a, Collegium Pharmaceutical, Inc. reciprocityDEF 14A0001628280-26-024063Collegium Pharmaceutical, Inc.'s most recent proxy was read; its disclosed peer group does not include Akebia Therapeutics, Inc.. Filing ↗
61Section 10a, Vanda Pharmaceuticals Inc. reciprocityDEF 14A0001628280-26-026893Vanda Pharmaceuticals Inc. names Akebia Therapeutics, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
62Section 10a, Rigel Pharmaceuticals, Inc. reciprocityDEF 14A0001034842-26-000023Rigel Pharmaceuticals, Inc. names Akebia Therapeutics, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
63Section 10a, Y-mAbs Therapeutics, Inc. reciprocityDEF 14A0001558370-25-008299Y-mAbs Therapeutics, Inc.'s most recent proxy was read; its disclosed peer group does not include Akebia Therapeutics, Inc.. Filing ↗
64Section 10a, UroGen Pharma Ltd. reciprocityDEF 14A0001437749-26-014237UroGen Pharma Ltd.'s most recent proxy was read; its disclosed peer group does not include Akebia Therapeutics, Inc.. Filing ↗
65Section 10a, Enanta Pharmaceuticals, Inc. reciprocityDEF 14A0001193125-26-022558Enanta Pharmaceuticals, Inc.'s most recent proxy was read; its disclosed peer group does not include Akebia Therapeutics, Inc.. Filing ↗
66Section 10a, Ardelyx, Inc. reciprocityDEF 14A0001140361-26-017800Ardelyx, Inc.'s most recent proxy was read; its disclosed peer group does not include Akebia Therapeutics, Inc.. Filing ↗
67Section 10a, Coherus BioSciences, Inc. reciprocityDEF 14A0001104659-26-045251Coherus BioSciences, Inc.'s most recent proxy was read; its disclosed peer group does not include Akebia Therapeutics, Inc.. Filing ↗
68Section 10a, Heron Therapeutics, Inc. reciprocityDEF 14A0001193125-26-196306Heron Therapeutics, Inc. names Akebia Therapeutics, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
69Section 10a, uniQure N.V. reciprocityDEF 14A0001104659-26-048969uniQure N.V.'s most recent proxy was read; its disclosed peer group does not include Akebia Therapeutics, Inc.. Filing ↗
70Section 10a, Evolus, Inc. reciprocityDEF 14A0001570562-26-000059Evolus, Inc.'s most recent proxy was read; its disclosed peer group does not include Akebia Therapeutics, Inc.. Filing ↗
71Section 10a, Ocular Therapeutix, Inc. reciprocityDEF 14A0001104659-26-053176Ocular Therapeutix, Inc.'s most recent proxy was read; its disclosed peer group does not include Akebia Therapeutics, Inc.. Filing ↗
72Section 10a, Puma Biotechnology, Inc. reciprocityDEF 14A0001437749-26-013671Puma Biotechnology, Inc. names Akebia Therapeutics, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗