Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-08-11

Anaptysbio (ANAB)

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.

$6,133,943
Daniel Faga total, FY2025
50th
CEO pay percentile vs peers
1:1
CEO-to-median pay ratio
97.21%
Say-on-pay support, latest vote
Companies that benchmark against ANAB
14 companies name ANAB as a compensation peer

Each company listed discloses ANAB 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 ANAB 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
Daniel Faga$706,011$0$1,592,001$3,345,653$465,968$0$24,310$6,133,943
President and Chief Executive Officer and Director
Paul Lizzul545,7540505,7031,064,476221,031028,4132,365,377
Chief Medical Officer
Dennis Mulroy510,0700397,444836,687224,431039,2952,007,927
Chief Financial 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
Daniel Faga$6,133,943$13,630,292−7,496,349
Paul Lizzul2,365,3774,583,508−2,218,131
Dennis Mulroy2,007,9273,238,907−1,230,980

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

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Daniel FagaOption$3,345,653
Paul LizzulOption1,064,476
Paul LizzulPSU505,703
Dennis MulroyOption836,687
Daniel FagaPSU1,592,001
Dennis MulroyPSU397,444
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Daniel Faga$0$1,592,001$3,345,65332.2%
Paul Lizzul0505,7031,064,47632.2%
Dennis Mulroy0397,444836,68732.2%

% 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
Daniel FagaRSU107,350$5,204,328
Paul LizzulRSU34,1001,653,168
Daniel FagaOption52,78523.23
Dennis MulroyRSU24,8771,206,037
Dennis MulroyPSU20,000969,600
Paul LizzulOption18,16523.23
Dennis MulroyOption15,50823.23
Dennis MulroyRSU10,490208,331
Daniel FagaOption305,50014.83
Daniel FagaPSU160,0007,756,800
Paul LizzulRSU12,290595,819
Daniel FagaRSU35,7001,730,736
Dennis MulroyOption76,40014.83
Paul LizzulRSU31,6651,535,119
Daniel FagaRSU104,0325,043,471
Paul LizzulOption60,17721.19
Dennis MulroyRSU26,8001,299,264
Paul LizzulPSU50,0002,424,000
Daniel FagaOption197,71921.19
Paul LizzulOption97,20014.83
Dennis MulroyOption47,28121.19
Paul LizzulOption2,91730.44
Dennis MulroyOption2,91730.44
05

Incentive-plan design — the Compensation Discussion & Analysis

The principal objectives of our executive compensation program, policies, and practices are to: offer competitive compensation which enables us to attract and retain high-caliber executives; reward the achievement of our business objectives by directly linking annual bonuses to the achievement of objectives that build long-term stockholder value; recognize both corporate and individual performance by providing opportunities for career advancement and opportunities for above-median short-term and long-term compensation based on measurable corporate and individual performance; and align the interests of our executives with those of our stockholders by incentivizing and rewarding the creation of stockholder value.

CEO STI target (% of salary)60%
CEO LTI target (% of salary)
Independent consultantAlpine Rewards
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-08-1121,274,791609,97933,39497.21%Passed
20252025-06-1717,781,5456,590,1931,304,91372.96%Passed
20242024-06-1219,874,0972,954,9563,39787.06%Passed
20232023-06-1515,221,8697,185,7262,23767.92%Passed
20222022-06-2321,241,1281,166,6957,24594.79%Passed
20212021-06-1720,696,27591,2214,27799.56%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
20262026-08-1197.21%a
20252025-06-1772.96%b
20242024-06-1287.06%c

a. Voting standard not stated in the filing.

b. Approved under the standard stated in the filing — “Abstentions and broker non-votes will have no effect on the outcome of the vote.”.

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.

07

CEO pay ratio

Ratio (CEO : median employee)1 : 1
CEO total compensation$6,133,943
Median employee compensation
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
John OrwinIndependent · Board Chair · Nominating/Governance$80,000$127,776$248,918$0$0$456,694
J. Anthony Ware, M.DIndependent · Audit · Nominating/Governance70,000127,776248,91800446,694
John P. SchmidIndependent · Audit (Chair) · Compensation66,750127,776248,91800443,444
Dennis Fenton, Ph.DIndependent · Compensation (Chair)65,000127,776248,91800441,694
Hollings RentonIndependent · Nominating/Governance (Chair)50,000127,776248,91800426,694
Magda Marquet, Ph.DIndependent · Audit50,000127,776248,91800426,694
Rita Jain, M.DIndependent · Compensation46,750127,776248,91800423,444
Oleg NodelmanIndependent · Nominating/Governance000000
Daniel FagaEmployee director000000
09

Board fee structure and ownership guideline

Annual cash retainer
Annual equity retainer
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$428,500
Equity awards (grant-date value)$894,432
All other compensation$0
Total cost of the board$1,322,932

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 Anaptysbio 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 Anaptysbio.

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
1Arcellx2024Rami Elghandour$653,288$9,342,069$10,850,151$0$21,402,668
2Janux Therapeutics2025David Campbell680,000012,459,031367,20013,506,231
3Kymera Therapeutics2025Nello Mainolfi693,00007,318,859519,7508,545,609
4Astria Therapeutics2024Jill Milne637,86805,637,078318,9346,604,416
5Allogene Therapeutics2025David Chang724,0002,409,5372,588,329400,0106,136,093
6Anaptysbio2025Daniel Faga706,0111,592,0013,345,653465,9686,133,943
7iTeos Therapeutics2024Michel Detheux628,68404,965,264421,0146,085,657
8Replimune Group2026Sushil Patel700,0003,376,0031,448,325315,0005,845,982
9Xencor2025Bassil Dahiyat742,8001,552,8922,727,018490,2485,521,205
10IGM Biosciences2023Fred Schwarzer646,797868,0501,336,743355,7383,207,328
Apogee Therapeuticsnot in coverage universe
Centessa Pharmaceuticalsnot in coverage universe
Jasper Therapeuticsnot in coverage universe
ALX Oncologynot 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
Anaptysbio110%not disclosedNoAlpine Rewards
Allogene Therapeutics85%Options 55 · RSU 25 · PSU 20NoCompensia
ALX Oncologynot disclosednot disclosednot disclosednot disclosed
Apogee Therapeuticsnot disclosednot disclosednot disclosednot disclosed
Arcellx140%not disclosedNoMeridian Compensation Partners, LLC
Astria Therapeuticsnot disclosedOptions 100not disclosedAon
Centessa Pharmaceuticalsnot disclosednot disclosednot disclosednot disclosed
IGM Biosciencesnot disclosednot disclosednot disclosedAon
iTeos Therapeuticsnot disclosednot disclosednot disclosedRadford
Janux Therapeutics90%not disclosednot disclosedFW Cook
Jasper Therapeuticsnot disclosednot disclosednot disclosednot disclosed
Kymera Therapeutics125%not disclosedNoAlpine Rewards
Replimune Groupnot disclosednot disclosedNoPearl Meyer
Xencor110%Options 60 · RSU 40not disclosedAon

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.

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, Daniel FagaDEF 14A2026-06-290001193125-26-288408Section “Summary Compensation Table”. As printed: 6,133,943. Filing ↗machine: span 694406–694415
2Section 01, Paul LizzulDEF 14A2026-06-290001193125-26-288408Section “Summary Compensation Table”. As printed: 2,365,377. Filing ↗machine: span 706985–706994
3Section 01, Dennis MulroyDEF 14A2026-06-290001193125-26-288408Section “Summary Compensation Table”. As printed: 2,007,927. Filing ↗machine: span 719717–719726
4Section 03, Daniel Faga OptionDEF 14A2026-06-290001193125-26-288408Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t18 · r2 · c9 · span 691857–691866
5Section 03, Paul Lizzul OptionDEF 14A2026-06-290001193125-26-288408Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t18 · r4 · c9 · span 704436–704445
6Section 03, Paul Lizzul PSUDEF 14A2026-06-290001193125-26-288408Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t18 · r4 · c6 · span 703360–703367
7Section 03, Dennis Mulroy OptionDEF 14A2026-06-290001193125-26-288408Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t18 · r6 · c9 · span 717170–717177
8Section 03, Daniel Faga PSUDEF 14A2026-06-290001193125-26-288408Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t18 · r2 · c6 · span 690779–690788
9Section 03, Dennis Mulroy PSUDEF 14A2026-06-290001193125-26-288408Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t18 · r6 · c6 · span 716094–716101
10Section 07, pay ratioDEF 14A2026-06-290001193125-26-288408Section “CEO Pay Ratio”. As printed: 1 : 1. Filing ↗
11Section 08, John OrwinDEF 14A2026-06-290001193125-26-288408Section “Director Compensation”. As printed: 456,694. Filing ↗
12Section 08, J. Anthony Ware, M.DDEF 14A2026-06-290001193125-26-288408Section “Director Compensation”. As printed: 446,694. Filing ↗
13Section 08, John P. SchmidDEF 14A2026-06-290001193125-26-288408Section “Director Compensation”. As printed: 443,444. Filing ↗
14Section 08, Dennis Fenton, Ph.DDEF 14A2026-06-290001193125-26-288408Section “Director Compensation”. As printed: 441,694. Filing ↗
15Section 08, Hollings RentonDEF 14A2026-06-290001193125-26-288408Section “Director Compensation”. As printed: 426,694. Filing ↗
16Section 08, Magda Marquet, Ph.DDEF 14A2026-06-290001193125-26-288408Section “Director Compensation”. As printed: 426,694. Filing ↗
17Section 08, Rita Jain, M.DDEF 14A2026-06-290001193125-26-288408Section “Director Compensation”. As printed: 423,444. Filing ↗
18Section 08, Oleg NodelmanDEF 14A2026-06-290001193125-26-288408Section “Director Compensation”. As printed: 0. Filing ↗machine: t8 · r8 · c11 · span 286181–286182
19Section 08, Daniel FagaDEF 14A2026-06-290001193125-26-288408Section “Director Compensation”. As printed: 0. Filing ↗
20Section 06, 2026 voteForm 8-K2026-08-110001193125-26-344583Item 5.07 · say-on-pay result. As reported: 97.21% (votes for as printed: 21,274,791). Filing ↗
21Section 06, 2025 voteForm 8-K2025-06-170001370053-25-000055Item 5.07 · say-on-pay result. As reported: 72.96% (votes for as printed: 17,781,545). Filing ↗
22Section 06, 2024 voteForm 8-K2024-06-120001370053-24-000029Item 5.07 · say-on-pay result. As reported: 87.06% (votes for as printed: 19,874,097). Filing ↗
23Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
24Section 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
25Section 09b board cost (computed)ComputedcomputedCash 428,500 + equity 894,432 + all other 0 = 1,322,932, summed across the director compensation table rows.machine: formula: Σ = 1,322,932
26Arcellx, Section 10b CEO totalDEF 14A2025-04-170001193125-25-084363CEO total compensation as printed in Arcellx's own proxy. As printed: 21,402,668. Filing ↗machine: r2 · c31 · span 471887–471897
27Janux Therapeutics, Section 10b CEO totalDEF 14A2026-04-280001193125-26-187095CEO total compensation as printed in Janux Therapeutics's own proxy. As printed: 13,506,231. Filing ↗machine: r2 · c22 · span 571399–571409
28Kymera Therapeutics, Section 10b CEO totalDEF 14A2026-04-290001193125-26-191495CEO total compensation as printed in Kymera Therapeutics's own proxy. As printed: 8,545,609. Filing ↗machine: r2 · c14 · span 676137–676146
29Astria Therapeutics, Section 10b CEO totalDEF 14A2025-04-280001104659-25-040180CEO total compensation as printed in Astria Therapeutics's own proxy. As printed: 6,604,416. Filing ↗machine: r1 · c35 · span 327451–327460
30Allogene Therapeutics, Section 10b CEO totalDEF 14A2026-04-300001628280-26-028948CEO total compensation as printed in Allogene Therapeutics's own proxy. As printed: 6,136,093. Filing ↗machine: r2 · c54 · span 451014–451023
31Anaptysbio (subject), Section 10b CEO totalDEF 14A2026-06-290001193125-26-288408CEO total compensation as printed in Anaptysbio's own proxy. As printed: 6,133,943. Filing ↗machine: span 694406–694415
32iTeos Therapeutics, Section 10b CEO totalDEF 14A2025-04-240000950170-25-057666CEO total compensation as printed in iTeos Therapeutics's own proxy. As printed: 6,085,657. Filing ↗machine: r2 · c27 · span 499272–499281
33Replimune Group, Section 10b CEO totalDEF 14A2026-07-290001104659-26-087650CEO total compensation as printed in Replimune Group's own proxy. As printed: 5,845,982. Filing ↗machine: r1 · c41 · span 430765–430774
34Xencor, Section 10b CEO totalDEF 14A2026-04-270001326732-26-000031CEO total compensation as printed in Xencor's own proxy. As printed: 5,521,205. Filing ↗machine: t32 · r3 · c19 · span 631325–631334
35IGM Biosciences, Section 10b CEO totalDEF 14A2024-04-260000950170-24-049091CEO total compensation as printed in IGM Biosciences's own proxy. As printed: 3,207,328. Filing ↗machine: r2 · c21 · span 824822–824831
36Section 10a, Arcellx reciprocityDEF 14A0001193125-25-084363Arcellx's most recent proxy was read; its disclosed peer group does not include Anaptysbio. Filing ↗
37Section 10a, Astria Therapeutics reciprocityDEF 14A0001104659-25-040180Astria Therapeutics's most recent proxy was read; its disclosed peer group does not include Anaptysbio. Filing ↗
38Section 10a, Xencor reciprocityDEF 14A0001326732-26-000031Xencor's most recent proxy was read; its disclosed peer group does not include Anaptysbio. Filing ↗
39Section 10a, Allogene Therapeutics reciprocityDEF 14A0001628280-26-028948Allogene Therapeutics's most recent proxy was read; its disclosed peer group does not include Anaptysbio. Filing ↗
40Section 10a, Janux Therapeutics reciprocityDEF 14A0001193125-26-187095Janux Therapeutics's most recent proxy was read; its disclosed peer group does not include Anaptysbio. Filing ↗
41Section 10a, Kymera Therapeutics reciprocityDEF 14A0001193125-26-191495Kymera Therapeutics's most recent proxy was read; its disclosed peer group does not include Anaptysbio. Filing ↗