Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-04-22

AN2 Therapeutics (ANTX)

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.

$1,382,985
Eric Easom total, FY2025
CEO pay percentile vs peers
CEO-to-median pay ratio
Say-on-pay support, latest vote
Companies that benchmark against ANTX
1 company names ANTX as a compensation peer

Each company listed discloses ANTX 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 ANTX 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
Eric Easom$603,750$0$164,133$275,539$332,063$0$7,500$1,382,985
President, Chief Executive Officer and Board Chair
Josh Eizen450,000066,105110,975180,00000807,080
Chief Legal Officer and Chief Operating Officer
Lucy Day447,200052,54588,211178,88007,500774,336
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
Eric Easom$1,382,985
Josh Eizen807,080
Lucy Day774,336

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.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Eric EasomRSU145,250$165,585
Eric EasomRSU74,25084,645
Josh EizenRSU58,50066,690
Lucy DayRSU46,50053,010
Josh EizenRSU45,00051,300
Josh EizenRSU23,62526,933
Josh EizenRSU22,50025,650
Lucy DayRSU20,62523,513
Eric EasomOption14,06317.28
Eric EasomOption72,48911.99
Eric EasomOption103,1253
Eric EasomOption223,9281.13
Josh EizenOption17,25017.88
Josh EizenOption13,58314.29
Josh EizenOption31,2513
Josh EizenOption45,9381.08
Josh EizenOption90,1881.13
Lucy DayRSU36,5780
Lucy DayRSU8,8370
Lucy DayRSU22,5880
Lucy DayOption4,12517.28
Lucy DayOption22,29014.29
Lucy DayOption28,6463
Lucy DayOption71,6771.13
05

Incentive-plan design — the Compensation Discussion & Analysis

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantAon
Clawback policytrue
Anti-hedging
Anti-pledging
07

CEO pay ratio

Ratio (CEO : median employee)
CEO total compensation
Median employee compensation
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Margaret FitzPatrickIndependent · Lead Independent Director · Nominating and Corporate Governance · Compensation$69,000$0$20,393$89,393
Stephanie WongIndependent · Nominating and Corporate Governance · Audit (Chair)59,000020,39379,393
Patricia MartinIndependent · Audit · Compensation51,25059720,39372,240
Joseph ZakrzewskiIndependent · Nominating and Corporate Governance · Audit51,500020,39371,893
Rob Readnour, Ph.DIndependent · Nominating and Corporate Governance (Chair)48,000020,39368,393
Melvin Spigelman, M.DIndependent · Compensation47,500020,39367,893
Kabeer AzizIndependent · Audit · Compensation35,6251,88620,39357,904
Gilbert Lynn Marks, M.DIndependent · Nominating and Corporate Governance · Compensation35,6251,88620,39357,904
Eric EasomEmployee director · Board Chair0
09

Board fee structure and ownership guideline

Annual cash retainer$40,000
Annual equity retainer$104,546
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)15,000 / 15,000 / 8,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$397,500
Equity awards (grant-date value)$4,369
All other compensation$0
Total cost of the board$401,869

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

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
1AN2 Therapeutics2025Eric Easom$603,750$164,133$275,539$332,063$1,382,985

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.

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, Eric EasomDEF 14A2026-04-220001193125-26-170314Section “Executive Compensation”. As printed: 1,382,985. Filing ↗machine: r2 · c25 · span 352697–352706
2Section 01, Josh EizenDEF 14A2026-04-220001193125-26-170314Section “Executive Compensation”. As printed: 807,080. Filing ↗machine: r4 · c25 · span 372599–372606
3Section 01, Lucy DayDEF 14A2026-04-220001193125-26-170314Section “Executive Compensation”. As printed: 774,336. Filing ↗machine: r6 · c25 · span 392493–392500
4Section 07, pay ratio10-K2026-03-170001193125-26-110693Section “CEO Pay Ratio”. As printed: —. Filing ↗
5Section 08, Margaret FitzPatrickDEF 14A2026-04-220001193125-26-170314Section “Director Compensation”. As printed: 89,393. Filing ↗machine: span 794030–794036
6Section 08, Stephanie WongDEF 14A2026-04-220001193125-26-170314Section “Director Compensation”. As printed: 79,393. Filing ↗machine: span 825272–825278
7Section 08, Patricia MartinDEF 14A2026-04-220001193125-26-170314Section “Director Compensation”. As printed: 72,240. Filing ↗machine: span 806533–806539
8Section 08, Joseph ZakrzewskiDEF 14A2026-04-220001193125-26-170314Section “Director Compensation”. As printed: 71,893. Filing ↗machine: span 831517–831523
9Section 08, Rob Readnour, Ph.DDEF 14A2026-04-220001193125-26-170314Section “Director Compensation”. As printed: 68,393. Filing ↗machine: span 812780–812786
10Section 08, Melvin Spigelman, M.DDEF 14A2026-04-220001193125-26-170314Section “Director Compensation”. As printed: 67,893. Filing ↗machine: span 819030–819036
11Section 08, Kabeer AzizDEF 14A2026-04-220001193125-26-170314Section “Director Compensation”. As printed: 57,904. Filing ↗machine: span 787782–787788
12Section 08, Gilbert Lynn Marks, M.DDEF 14A2026-04-220001193125-26-170314Section “Director Compensation”. As printed: 57,904. Filing ↗machine: span 800287–800293
13Section 08, Eric EasomDEF 14A2026-04-220001193125-26-170314Section “Director Compensation”. As printed: 0. Filing ↗
14Section 09b board cost (computed)ComputedcomputedCash 397,500 + equity 4,369 + all other 0 = 401,869, summed across the director compensation table rows.machine: formula: Σ = 401,869
15AN2 Therapeutics (subject), Section 10b CEO totalDEF 14A2026-04-220001193125-26-170314CEO total compensation as printed in AN2 Therapeutics's own proxy. As printed: 1,382,985. Filing ↗machine: r2 · c25 · span 352697–352706