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.
Each company listed discloses AQST 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 AQST in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Daniel Barber | $659,885 | $0 | $1,547,342 | $877,200 | $409,132 | $0 | $0 | $3,493,559 |
| President and Chief Executive Officer | ||||||||
| Lori Braender | 457,962 | 0 | 524,150 | 129,000 | 237,126 | 0 | 0 | 1,348,238 |
| Corporate Secretary, Former Chief Legal Officer and Chief Compliance Officer | ||||||||
| A. Ernest Toth, Jr. | 442,599 | 0 | 524,150 | 129,000 | 227,798 | 0 | 0 | 1,323,547 |
| 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.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Daniel Barber | $3,493,559 | — | — | — |
| Lori Braender | 1,348,238 | — | — | — |
| A. Ernest Toth, Jr. | 1,323,547 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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 |
|---|---|---|---|---|---|---|---|---|
| Cassie Jung | Chief Operating Officer | 2026-05-05 | D | 72,734 | $4 | $304,028 | Common | Form 4 ↗ |
| Daniel Barber | President and CEO | 2026-05-05 | D | 335,922 | 4 | 1,404,154 | Common | Form 4 ↗ |
| A. Ernest Toth, Jr. | Chief Financial Officer | 2026-05-05 | D | 92,652 | 4 | 387,285 | Common | Form 4 ↗ |
| Peter E. Boyd | Chief People Officer | 2026-05-05 | D | 56,778 | 4 | 237,332 | Common | Form 4 ↗ |
| Lori Braender | Corporate Secretary | 2026-05-05 | D | 76,147 | 4 | 318,294 | Common | Form 4 ↗ |
| Lori Braender | Corporate Secretary | 2026-05-07 | D | 135,690 | 4 | 573,969 | Common | Form 4 ↗ |
| Melina Cioffi | SVP, Regulatory Affairs | 2026-05-15 | D | 1,667 | 4 | 6,951 | Common | Form 4 ↗ |
| Daniel Barber | President and CEO | 2026-05-15 | D | 8,257 | 4 | 35,413 | Common | Form 4 ↗ |
| Thomas A. Zalewski | Chief Legal Officer | 2026-05-18 | A | 100,000 | 0 | 0 | Common | Form 4 ↗ |
| Thomas A. Zalewski | Chief Legal Officer | 2026-05-18 | A | 75,000 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Sherry Korczynski | Chief Commercial Officer | 2026-06-08 | D | 2,714 | 0 | 0 | Common | Form 4 ↗ |
| Julie Krop | Director | 2026-06-10 | A | 50,500 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Gregory B. Brown | Director | 2026-06-10 | A | 50,500 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Timothy E. Morris | Director | 2026-06-10 | A | 50,500 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Abigail L. Jenkins | Director | 2026-06-10 | D | 50,500 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| John S. Cochran | Director | 2026-06-10 | A | 50,500 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Marco Taglietti | Director | 2026-06-10 | A | 50,500 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Daniel Barber | President and CEO | 2026-06-15 | D | 25,000 | 4 | 104,010 | Common | Form 4 ↗ |
| Julie Krop | Director | 2026-06-23 | D | 25,000 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Julie Krop | Director | 2026-06-23 | D | 25,000 | 5 | 125,393 | Common | Form 4 ↗ |
| Julie Krop | Director | 2026-06-23 | A | 25,000 | 1 | 17,830 | Common | Form 4 ↗ |
| Daniel Barber | President and CEO | 2026-07-15 | D | 4,631 | 4 | 18,683 | Common | Form 4 ↗ |
| Daniel Barber | President and CEO | 2026-07-15 | D | 20,369 | 4 | 81,509 | 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.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Lori Braender | OPTION | — | — | — | — | — | $129,000 |
| Daniel Barber | OPTION | — | — | — | — | — | 877,200 |
| Lori Braender | PSU | — | — | — | — | — | 524,150 |
| A. Ernest Toth, Jr. | PSU | — | — | — | — | — | 524,150 |
| A. Ernest Toth, Jr. | OPTION | — | — | — | — | — | 129,000 |
| Daniel Barber | PSU | — | — | — | — | — | 1,547,342 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Lori Braender | $0 | $524,150 | $129,000 | 80.2% |
| Daniel Barber | 0 | 1,547,342 | 877,200 | 63.8% |
| A. Ernest Toth, Jr. | 0 | 524,150 | 129,000 | 80.2% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Lori Braender | PSU | 75,000 | — | $183,000 |
| Lori Braender | Option | 60,000 | 2.65 | — |
| Lori Braender | RSU | 101,250 | — | 575,100 |
| Daniel Barber | PSU | 293,100 | — | 826,542 |
| Lori Braender | PSU | 82,500 | — | 232,650 |
| Daniel Barber | PSU | 223,500 | — | 545,340 |
| Daniel Barber | RSU | 293,100 | — | 826,542 |
| A. Ernest Toth, Jr. | Option | 60,000 | 2.65 | — |
| Lori Braender | Option | 40,000 | 0.88 | — |
| A. Ernest Toth, Jr. | PSU | 70,000 | — | 170,800 |
| A. Ernest Toth, Jr. | RSU | 90,000 | — | 511,200 |
| A. Ernest Toth, Jr. | RSU | — | — | 291,500 |
| A. Ernest Toth, Jr. | PSU | — | — | 232,650 |
| A. Ernest Toth, Jr. | Option | 70,000 | 2.55 | — |
| Lori Braender | Option | 160,000 | 2.55 | — |
| Daniel Barber | Option | 96,507 | 15 | — |
| Daniel Barber | Option | 25,997 | 6.54 | — |
| Lori Braender | Option | 85,000 | 18.67 | — |
| Daniel Barber | RSU | 181,950 | — | 1,033,476 |
| Daniel Barber | Option | 50,000 | 4.83 | — |
| Daniel Barber | Option | 100,000 | 0.88 | — |
| Lori Braender | RSU | 110,000 | — | 291,500 |
| Daniel Barber | Option | 408,000 | 2.65 | — |
| Daniel Barber | Option | 225,000 | 2.55 | — |
| Daniel Barber | Option | 110,000 | 1.54 | — |
| A. Ernest Toth, Jr. | Option | 40,000 | 0.88 | — |
| Lori Braender | Option | 60,000 | 1.54 | — |
| Daniel Barber | Option | 272,925 | 5.68 | — |
| Lori Braender | Option | 75,000 | 5.3 | — |
| Daniel Barber | Option | 70,000 | 8.05 | — |
| Lori Braender | Option | 100,000 | 8.05 | — |
| Daniel Barber | Option | 100,000 | 5.3 | — |
| A. Ernest Toth, Jr. | Option | 120,000 | 4.04 | — |
| Lori Braender | Option | 50,625 | 5.68 | — |
| A. Ernest Toth, Jr. | Option | 2,500 | 5.3 | — |
| A. Ernest Toth, Jr. | Option | 45,000 | 5.68 | — |
Our goal is to provide compensation that emphasizes pay-for-performance, rewarding those who achieve or exceed their goals, and seeking to drive long-term value for our stockholders through the use of both short-term and long-term incentive programs.
| CEO STI target (% of salary) | 60% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Aon |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-10 | 37,798,609 | 3,192,381 | 1,604,754 | 92.21% | Passed |
| 2025 | 2025-06-11 | 32,454,278 | 6,694,084 | 459,188 | 82.9% | 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.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-06-10 | 92.21%a |
| 2025 | 2025-06-11 | 82.9%b |
a. Approved under the standard stated in the filing — “Abstentions and broker non-votes will not be treated as votes cast for this purpose and, therefore, will not affect the outcome of this vote.”.
b. Approved under the standard stated in the filing — “Abstentions and broker non-votes will not be treated as votes cast for this purpose and, therefore, will not affect the outcome of this vote.”.
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.
| Ratio (CEO : median employee) | — |
|---|---|
| CEO total compensation | — |
| Median employee compensation | — |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Gregory B. Brown, M.DIndependent · Board Chair · Nominating/Governance · Compensation · Audit | $127,500 | $0 | $143,220 | $0 | $3,921 | $274,641 |
| John S. CochranIndependent · Nominating/Governance (Chair) · Compensation (Chair) | 91,250 | 0 | 143,220 | 0 | 6,449 | 240,919 |
| Timothy E. MorrisIndependent · Compensation · Audit (Chair) | 88,750 | 0 | 143,220 | 0 | 5,642 | 237,612 |
| Julie Krop, M.DIndependent · Compensation · Audit · Science & Technology (Chair) | 90,000 | 0 | 143,220 | 0 | 0 | 233,220 |
| Marco Taglietti, M.DIndependent · Audit · Science & Technology | 68,750 | 0 | 143,220 | 0 | 1,442 | 213,412 |
| Abigail L. JenkinsIndependent · Nominating/Governance | 55,000 | 0 | 143,220 | 0 | 2,697 | 200,917 |
| Daniel BarberEmployee director | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | $50,000 |
|---|---|
| Annual equity retainer | $143,220 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 17,500 / 10,000 |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $521,250 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $20,151 |
| Total cost of the board | $541,401 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
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 | Aquestive Therapeutics | 2025 | Daniel Barber | $659,885 | $1,547,342 | $877,200 | $409,132 | $3,493,559 |
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.
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.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Daniel Barber | DEF 14A | 2026-04-24 | 0001140361-26-016757 | Section “Summary Compensation Table” · page 25. As printed: 3,493,559. Filing ↗machine: r2 · c21 · span 397882–397891 |
| 2 | Section 01, Lori Braender | DEF 14A | 2026-04-24 | 0001140361-26-016757 | Section “Summary Compensation Table” · page 25. As printed: 1,348,238. Filing ↗machine: r4 · c21 · span 405751–405760 |
| 3 | Section 01, A. Ernest Toth, Jr. | DEF 14A | 2026-04-24 | 0001140361-26-016757 | Section “Summary Compensation Table” · page 25. As printed: 1,323,547. Filing ↗machine: t62 · r6 · c21 · span 413315–413324 |
| 4 | Section 03, Lori Braender OPTION | DEF 14A | 2026-04-24 | 0001140361-26-016757 | Section “TABLE OF CONTENTS EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t62 · r4 · c12 · span 404253–404260 |
| 5 | Section 03, Daniel Barber OPTION | DEF 14A | 2026-04-24 | 0001140361-26-016757 | Section “TABLE OF CONTENTS EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t62 · r2 · c12 · span 396150–396157 |
| 6 | Section 03, Lori Braender PSU | DEF 14A | 2026-04-24 | 0001140361-26-016757 | Section “TABLE OF CONTENTS EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t62 · r4 · c9 · span 403730–403737 |
| 7 | Section 03, A. Ernest Toth, Jr. PSU | DEF 14A | 2026-04-24 | 0001140361-26-016757 | Section “TABLE OF CONTENTS EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t62 · r6 · c9 · span 411134–411141 |
| 8 | Section 03, A. Ernest Toth, Jr. OPTION | DEF 14A | 2026-04-24 | 0001140361-26-016757 | Section “TABLE OF CONTENTS EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t62 · r6 · c12 · span 411697–411704 |
| 9 | Section 03, Daniel Barber PSU | DEF 14A | 2026-04-24 | 0001140361-26-016757 | Section “TABLE OF CONTENTS EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t62 · r2 · c9 · span 395554–395563 |
| 10 | Section 07, pay ratio | 10-K | 2026-03-04 | 0001398733-26-000018 | Section “CEO Pay Ratio”. As printed: —. Filing ↗ |
| 11 | Section 08, Gregory B. Brown, M.D | DEF 14A | 2026-04-24 | 0001140361-26-016757 | Section “Director Compensation”. As printed: 274,641. Filing ↗machine: t23 · r2 · c12 · span 206630–206638 |
| 12 | Section 08, John S. Cochran | DEF 14A | 2026-04-24 | 0001140361-26-016757 | Section “Director Compensation”. As printed: 240,919. Filing ↗machine: t23 · r3 · c12 · span 208948–208955 |
| 13 | Section 08, Timothy E. Morris | DEF 14A | 2026-04-24 | 0001140361-26-016757 | Section “Director Compensation”. As printed: 237,612. Filing ↗machine: t23 · r6 · c12 · span 216633–216640 |
| 14 | Section 08, Julie Krop, M.D | DEF 14A | 2026-04-24 | 0001140361-26-016757 | Section “Director Compensation”. As printed: 233,220. Filing ↗machine: t23 · r5 · c12 · span 213955–213962 |
| 15 | Section 08, Marco Taglietti, M.D | DEF 14A | 2026-04-24 | 0001140361-26-016757 | Section “Director Compensation”. As printed: 213,412. Filing ↗machine: t23 · r7 · c12 · span 218844–218851 |
| 16 | Section 08, Abigail L. Jenkins | DEF 14A | 2026-04-24 | 0001140361-26-016757 | Section “Director Compensation”. As printed: 200,917. Filing ↗machine: t23 · r4 · c12 · span 211626–211633 |
| 17 | Section 08, Daniel Barber | DEF 14A | 2026-04-24 | 0001140361-26-016757 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 18 | Section 02, Cassie Jung 2026-05-05 | Form 4 | 2026-05-07 | 0001214659-26-005748 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 19 | Section 02, Daniel Barber 2026-05-05 | Form 4 | 2026-05-07 | 0001214659-26-005750 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 20 | Section 02, A. Ernest Toth, Jr. 2026-05-05 | Form 4 | 2026-05-07 | 0001214659-26-005749 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 21 | Section 02, Peter E. Boyd 2026-05-05 | Form 4 | 2026-05-07 | 0001214659-26-005751 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 22 | Section 02, Lori Braender 2026-05-05 | Form 4 | 2026-05-07 | 0001214659-26-005747 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 23 | Section 02, Lori Braender 2026-05-07 | Form 4 | 2026-05-11 | 0001214659-26-005932 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 24 | Section 02, Melina Cioffi 2026-05-15 | Form 4 | 2026-05-18 | 0001214659-26-006527 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 25 | Section 02, Daniel Barber 2026-05-15 | Form 4 | 2026-05-18 | 0001214659-26-006532 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 26 | Section 02, Thomas A. Zalewski 2026-05-18 | Form 4 | 2026-05-19 | 0001214659-26-006554 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 27 | Section 02, Thomas A. Zalewski 2026-05-18 | Form 4 | 2026-05-19 | 0001214659-26-006554 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 28 | Section 02, Sherry Korczynski 2026-06-08 | Form 4 | 2026-06-09 | 0001214659-26-007262 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 29 | Section 02, Julie Krop 2026-06-10 | Form 4 | 2026-06-12 | 0001214659-26-007398 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 30 | Section 02, Gregory B. Brown 2026-06-10 | Form 4 | 2026-06-12 | 0001214659-26-007395 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 31 | Section 02, Timothy E. Morris 2026-06-10 | Form 4 | 2026-06-12 | 0001214659-26-007399 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 32 | Section 02, Abigail L. Jenkins 2026-06-10 | Form 4 | 2026-06-12 | 0001214659-26-007397 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 33 | Section 02, John S. Cochran 2026-06-10 | Form 4 | 2026-06-12 | 0001214659-26-007396 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 34 | Section 02, Marco Taglietti 2026-06-10 | Form 4 | 2026-06-12 | 0001214659-26-007394 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 35 | Section 02, Daniel Barber 2026-06-15 | Form 4 | 2026-06-16 | 0001214659-26-007511 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 36 | Section 02, Julie Krop 2026-06-23 | Form 4 | 2026-06-24 | 0001214659-26-007677 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 37 | Section 02, Julie Krop 2026-06-23 | Form 4 | 2026-06-24 | 0001214659-26-007677 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 38 | Section 02, Julie Krop 2026-06-23 | Form 4 | 2026-06-24 | 0001214659-26-007677 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 39 | Section 02, Daniel Barber 2026-07-15 | Form 4 | 2026-07-17 | 0001214659-26-008663 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 40 | Section 02, Daniel Barber 2026-07-15 | Form 4 | 2026-07-17 | 0001214659-26-008663 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 41 | Section 06, 2026 vote | Form 8-K | 2026-06-10 | 0001398733-26-000033 | Item 5.07 · say-on-pay result. As reported: 92.21% (votes for as printed: 37,798,609). Filing ↗ |
| 42 | Section 06, 2025 vote | Form 8-K | 2025-06-11 | 0001628280-25-030804 | Item 5.07 · say-on-pay result. As reported: 82.9% (votes for as printed: 32,454,278). Filing ↗ |
| 43 | Section 03b vehicle mix (computed) | Computed | — | computed | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 44 | Section 09b board cost (computed) | Computed | — | computed | Cash 521,250 + equity 0 + all other 20,151 = 541,401, summed across the director compensation table rows.machine: formula: Σ = 541,401 |
| 45 | Aquestive Therapeutics (subject), Section 10b CEO total | DEF 14A | 2026-04-24 | 0001140361-26-016757 | CEO total compensation as printed in Aquestive Therapeutics's own proxy. As printed: 3,493,559. Filing ↗machine: r2 · c21 · span 397882–397891 |