Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-09

AN2 Therapeutics (ANTX)

CEO Eric Easom was paid $1,382,985 in fiscal year 2025, ↓ down 17.0% from fiscal year 2024 (SEC filing 0001193125-26-170314 ↗): 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
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CEO pay percentile vs peers
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CEO-to-median pay ratio
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Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Eric Easom (President, Chief Executive Officer and Board Chair), FY2025 total compensation $1,382,985 (base salary $603,750) [exec_comp, SEC accession 0001193125-26-170314, filed 2026-04-22]

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ANTX's next annual pay disclosure, estimated May 4, 2027.est. Filing ↗

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 FY2024→2025
Eric Easom$1,382,985$1,666,117$3,342,848↓ −283,132
Josh Eizen807,0801,057,3501,147,944↓ −250,270
Lucy Day774,336812,6991,524,458↓ −38,363

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

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Companies that benchmark against ANTX
3 companies name 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.

01b

Executives — the named officers

One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.

ExecutiveRoleFY2025 total
Eric EasomCEO$1,382,985
Josh EizenCOO$807,080
Lucy DayCFO$774,336
01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Gilbert Lynn Marks, M.DIndependent Director$57,904
Joseph ZakrzewskiIndependent Director$71,893
Kabeer AzizIndependent Director$57,904
Margaret FitzPatrickLead Independent Director$89,393
Melvin Spigelman, M.DIndependent Director$67,893
Patricia MartinIndependent Director$72,240
Rob Readnour, Ph.DIndependent Director$68,393
Stephanie WongIndependent Director$79,393
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
Lucy DayRSU46,500—$53,010
Eric EasomOption223,9281.13—
Josh EizenRSU45,000—51,300
Josh EizenRSU58,500—66,690
Eric EasomOption72,48911.99—
Josh EizenOption31,2513—
Lucy DayOption71,6771.13—
Eric EasomOption103,1253—
Eric EasomOption14,06317.28—
Eric EasomRSU74,250—84,645
Josh EizenOption45,9381.08—
Lucy DayRSU36,578—0
Eric EasomRSU145,250—165,585
Josh EizenRSU23,625—26,933
Josh EizenRSU22,500—25,650
Lucy DayRSU20,625—23,513
Josh EizenOption17,25017.88—
Josh EizenOption13,58314.29—
Josh EizenOption90,1881.13—
Lucy DayRSU8,837—0
Lucy DayRSU22,588—0
Lucy DayOption4,12517.28—
Lucy DayOption22,29014.29—
Lucy DayOption28,6463—
05

Incentive-plan design — the Compensation Discussion & Analysis

Compensation is designed to align executive interests with stockholders, motivate short- and long-term results, and reflect market practices for comparable positions.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantAon
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-03—————
20252025-05-22—————
20242024-06-19—————
20232023-06-07—————

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
20262026-06-03—a
20252025-05-22—b
20242024-06-19—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.

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$69,000$0$20,393——$89,393
Stephanie WongIndependent · Audit (Chair) · Nominating and Corporate Governance59,000020,393——79,393
Patricia MartinIndependent · Compensation (Chair)51,25059720,393——72,240
Joseph ZakrzewskiIndependent · Audit · Nominating and Corporate Governance51,500020,393——71,893
Rob Readnour, Ph.DIndependent · Nominating and Corporate Governance (Chair)48,000020,393——68,393
Melvin Spigelman, M.DIndependent · Compensation47,500020,393——67,893
Kabeer AzizIndependent · Audit35,6251,88620,393——57,904
Gilbert Lynn Marks, M.DIndependent · Compensation35,6251,88620,393——57,904
Eric EasomEmployee director · Board Chair—————0
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.

10d

Frequently asked questions

Who was the highest-paid executive at AN2 Therapeutics in fiscal 2025?
As disclosed, Eric Easom (President, Chief Executive Officer and Board Chair) was the highest-paid executive at AN2 Therapeutics in fiscal 2025, with total compensation of $1,382,985.
How much does AN2 Therapeutics spend in total on board compensation for fiscal 2025?
As disclosed, AN2 Therapeutics reported total board compensation of $401,869 for fiscal 2025.

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, 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 793821–794047
6Section 08, Stephanie WongDEF 14A2026-04-220001193125-26-170314Section “Director Compensation”. As printed: 79,393. Filing ↗machine: span 825063–825289
7Section 08, Patricia MartinDEF 14A2026-04-220001193125-26-170314Section “Director Compensation”. As printed: 72,240. Filing ↗machine: span 806324–806550
8Section 08, Joseph ZakrzewskiDEF 14A2026-04-220001193125-26-170314Section “Director Compensation”. As printed: 71,893. Filing ↗machine: span 831308–831534
9Section 08, Rob Readnour, Ph.DDEF 14A2026-04-220001193125-26-170314Section “Director Compensation”. As printed: 68,393. Filing ↗machine: span 812571–812797
10Section 08, Melvin Spigelman, M.DDEF 14A2026-04-220001193125-26-170314Section “Director Compensation”. As printed: 67,893. Filing ↗machine: span 818821–819047
11Section 08, Kabeer AzizDEF 14A2026-04-220001193125-26-170314Section “Director Compensation”. As printed: 57,904. Filing ↗machine: span 787573–787799
12Section 08, Gilbert Lynn Marks, M.DDEF 14A2026-04-220001193125-26-170314Section “Director Compensation”. As printed: 57,904. Filing ↗machine: span 800078–800304
13Section 08, Eric EasomDEF 14A2026-04-220001193125-26-170314Section “Director Compensation”. As printed: 0. Filing ↗
14Section 06, 2026 voteForm 8-K2026-06-090001193125-26-262264Item 5.07 · say-on-pay result. As reported: —. Filing ↗
15Section 06, 2025 voteForm 8-K2025-05-270001193125-25-127595Item 5.07 · say-on-pay result. As reported: —. Filing ↗
16Section 06, 2024 voteForm 8-K2024-06-240001193125-24-166938Item 5.07 · say-on-pay result. As reported: —. Filing ↗
17Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
18Section 09b board cost (computed)Computed——Cash 397,500 + equity 4,369 + all other 0 = 401,869, summed across the director compensation table rows.machine: formula: Σ = 401,869
19AN2 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

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