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 BCYC 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 BCYC 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 |
|---|---|---|---|---|---|---|---|---|
| Kevin Lee | $862,339 | $0 | $1,724,800 | $2,961,297 | $543,642 | $0 | $249,395 | $6,341,473 |
| Chief Executive Officer | ||||||||
| Michael Skynner | 612,471 | 0 | 490,000 | 836,470 | 319,355 | 0 | 68,714 | 2,327,010 |
| Chief Technology Officer (2025); Chief Scientific Officer (effective January 1, 2026) | ||||||||
| Alistair Milnes | 578,189 | 0 | 490,000 | 836,470 | 322,520 | 0 | 65,245 | 2,292,424 |
| Chief Operating Officer (2025); Chief Corporate Development Officer (effective March 17, 2026) | ||||||||
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 |
|---|---|---|---|---|
| Kevin Lee | $6,341,473 | — | — | — |
| Michael Skynner | 2,327,010 | — | — | — |
| Alistair Milnes | 2,292,424 | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| Michael Skynner | CHIEF SCIENTIFIC OFFICER | 2026-07-02 | D | 1,859 | $4 | $7,938 | Common | Form 4 ↗ |
| Jennifer Scott Perry | Chief Operating Officer | 2026-07-02 | D | 333 | 4 | 1,445 | Common | Form 4 ↗ |
| Jennifer Scott Perry | Chief Operating Officer | 2026-07-02 | D | 1,036 | 4 | 4,424 | Common | Form 4 ↗ |
| Kevin Lee | Director | 2026-07-02 | D | 5,905 | 4 | 25,214 | Common | Form 4 ↗ |
| Michael Skynner | CHIEF SCIENTIFIC OFFICER | 2026-07-02 | D | 532 | 4 | 2,293 | Common | Form 4 ↗ |
| Hannay Michael Charles Ferguson | CHIEF PROD & SUPPLY CHAIN OFF | 2026-07-02 | D | 1,506 | 4 | 6,431 | Common | Form 4 ↗ |
| Kevin Lee | Director | 2026-07-02 | D | 1,737 | 4 | 7,486 | Common | Form 4 ↗ |
| Hannay Michael Charles Ferguson | CHIEF PROD & SUPPLY CHAIN OFF | 2026-07-02 | D | 255 | 4 | 1,099 | Common | Form 4 ↗ |
| Travis Alvin Thompson | Chief Financial Officer | 2026-07-02 | D | 819 | 4 | 3,497 | Common | Form 4 ↗ |
| Travis Alvin Thompson | Chief Financial Officer | 2026-07-02 | D | 104 | 4 | 448 | Common | Form 4 ↗ |
| Jennifer Scott Perry | Chief Operating Officer | 2026-07-02 | D | 43 | 4 | 185 | Common | Form 4 ↗ |
| Travis Alvin Thompson | Chief Financial Officer | 2026-07-15 | A | 60,000 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Hannay Michael Charles Ferguson | CHIEF PROD & SUPPLY CHAIN OFF | 2026-07-15 | A | 60,000 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Michael Skynner | CHIEF SCIENTIFIC OFFICER | 2026-07-15 | A | 60,000 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Jennifer Scott Perry | Chief Operating Officer | 2026-07-15 | A | 60,000 | 0 | 0 | Derivative, Class A 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 |
|---|---|---|---|---|---|---|---|
| Kevin Lee | RSU | — | — | — | — | — | $1,724,800 |
| Michael Skynner | RSU | — | — | — | — | — | 490,000 |
| Kevin Lee | OPTION | — | — | — | — | — | 2,961,297 |
| Michael Skynner | OPTION | — | — | — | — | — | 836,470 |
| Alistair Milnes | OPTION | — | — | — | — | — | 836,470 |
| Alistair Milnes | RSU | — | — | — | — | — | 490,000 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Kevin Lee | $1,724,800 | $0 | $2,961,297 | 0.0% |
| Michael Skynner | 490,000 | 0 | 836,470 | 0.0% |
| Alistair Milnes | 490,000 | 0 | 836,470 | 0.0% |
% 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 |
|---|---|---|---|---|
| Alistair Milnes | RSU | 938 | — | $6,641 |
| Michael Skynner | Option | 87,000 | 14 | — |
| Alistair Milnes | Option | 2,084 | 60.87 | — |
| Kevin Lee | RSU | 123,200 | — | 872,256 |
| Kevin Lee | RSU | 43,313 | — | 306,656 |
| Kevin Lee | RSU | 3,125 | — | 22,125 |
| Michael Skynner | Option | 625 | 60.87 | — |
| Kevin Lee | Option | 308,000 | 14 | — |
| Michael Skynner | RSU | 15,750 | — | 111,510 |
| Michael Skynner | Option | 29,167 | 18.08 | — |
| Alistair Milnes | RSU | 35,000 | — | 247,800 |
| Michael Skynner | RSU | 5,469 | — | 38,721 |
| Michael Skynner | RSU | 938 | — | 6,641 |
| Michael Skynner | Option | 9,480 | 29.6 | — |
| Alistair Milnes | RSU | 5,469 | — | 38,721 |
| Michael Skynner | RSU | 35,000 | — | 247,800 |
| Kevin Lee | Option | 2,084 | 60.87 | — |
| Kevin Lee | Option | 80,730 | 18.08 | — |
| Alistair Milnes | Option | 87,000 | 14 | — |
| Alistair Milnes | Option | 9,480 | 29.6 | — |
| Alistair Milnes | RSU | 21,938 | — | 155,321 |
| Kevin Lee | Option | 31,146 | 29.6 | — |
| Alistair Milnes | Option | 40,105 | 18.08 | — |
| Kevin Lee | RSU | 17,969 | — | 127,221 |
The Compensation Committee believes that the most effective compensation program is one that rewards sustainable value creation for our shareholders, by delivering strong company performance, as well as tangible progress towards achieving our mission.
| CEO STI target (% of salary) | 65% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | True |
| Anti-hedging | True |
| Anti-pledging | True |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-17 | 48,748,743 | 785,032 | 163,133 | 98.42% | Passed |
| 2025 | 2025-06-17 | 47,287,428 | 1,743,008 | 104,623 | 96.45% | Passed |
| 2024 | 2024-05-16 | 36,186,115 | 1,202,477 | 9,515 | 96.78% | Passed |
| 2023 | 2023-06-13 | 26,083,084 | 1,965,019 | 8,818 | 92.99% | Passed |
| 2022 | 2022-06-27 | 23,466,799 | 276,755 | 1,801,179 | 98.83% | Passed |
| 2021 | 2021-06-28 | 19,098,902 | 556,551 | 1,969,184 | 97.17% | 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 | 2026-06-17 | 98.42%a |
| 2025 | 2025-06-17 | 96.45%b |
| 2024 | 2024-05-16 | 96.78%c |
a. Approved under the standard stated in the filing — “6 Table of Contents What is an "abstention" and how would it affect the vote? An abstention is not a vote in law and will not be counted in the calculation of the proportion of the votes for or against a particular resolution.”.
b. Approved under the standard stated in the filing — “6 Table of Contents What is an "abstention" and how would it affect the vote? An abstention is not a vote in law and will not be counted in the calculation of the proportion of the votes for or against a particular resolution.”.
c. Approved under the standard stated in the filing — “What is an "abstention" and how would it affect the vote? An abstention is not a vote in law and will not be counted in the calculation of the proportion of the votes for or against a particular resolution.”.
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 |
|---|---|---|---|---|---|---|
| Pierre Legault, MBA, CPANot independent · Not standing for re-election · Departed during FY | $28,695 | $175,000 | $240,365 | $0 | $102,815 | $546,875 |
| Jose-Carlos Gutierrez-Ramos, Ph.DIndependent · Nominating and Corporate Governance | 90,000 | 87,500 | 120,183 | 0 | 72,895 | 370,578 |
| Alessandro Riva, M.DIndependent · Audit · Compensation · Newly elected | 54,173 | 115,000 | 153,484 | 0 | 0 | 322,657 |
| Janice Bourque, MBAIndependent · Audit · Compensation (Chair) · Not standing for re-election · Departed during FY | 95,000 | 87,500 | 120,183 | 0 | 1,978 | 304,661 |
| Charles Swanton, M.D., Ph.D., FRS, FMedSci, FRCPIndependent · Nominating and Corporate Governance · Newly elected | 24,715 | 93,250 | 121,733 | 0 | 41,250 | 280,948 |
| Stephen Sands, MBAIndependent · Audit (Chair) | 91,981 | 75,502 | 103,713 | 0 | 1,978 | 273,174 |
| Sir Gregory Winter, FRSIndependent · Nominating and Corporate Governance · Not standing for re-election · Departed during FY | 65,000 | 87,500 | 120,183 | 0 | 0 | 272,683 |
| Richard Kender, MBAIndependent · Compensation · Nominating and Corporate Governance · Not standing for re-election · Departed during FY | 55,539 | 87,500 | 120,183 | 0 | 1,978 | 265,200 |
| Roger Dansey, M.DIndependent · Audit · Newly elected | 22,077 | 89,500 | 116,082 | 0 | 19,200 | 246,859 |
| Felix J. Baker, Ph.DIndependent · Board Chair · Nominating and Corporate Governance | 88,711 | 61,600 | 84,618 | 0 | 0 | 234,929 |
| Herve HoppenotIndependent · Audit · Newly elected | 23,654 | 89,500 | 116,082 | 0 | 0 | 229,236 |
| Kevin Lee, Ph.D., MBAEmployee director | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | $45,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 15,000 / 10,000 |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $639,545 |
| Equity awards (grant-date value) | $1,049,352 |
| All other compensation | $242,094 |
| Total cost of the board | $1,930,991 |
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 | Bicycle Therapeutics | 2025 | Kevin Lee | $862,339 | $1,724,800 | $2,961,297 | $543,642 | $6,341,473 |
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, Kevin Lee | DEF 14A | 2026-04-22 | 0001104659-26-046806 | Section “Summary Compensation Table”. As printed: 6,341,473. Filing ↗machine: t83 · r5 · c14 · span 491024–491033 |
| 2 | Section 01, Michael Skynner | DEF 14A | 2026-04-22 | 0001104659-26-046806 | Section “Summary Compensation Table”. As printed: 2,327,010. Filing ↗machine: t83 · r7 · c14 · span 499366–499375 |
| 3 | Section 01, Alistair Milnes | DEF 14A | 2026-04-22 | 0001104659-26-046806 | Section “Summary Compensation Table”. As printed: 2,292,424. Filing ↗machine: t83 · r9 · c14 · span 507821–507830 |
| 4 | Section 03, Kevin Lee RSU | DEF 14A | 2026-04-22 | 0001104659-26-046806 | Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t83 · r5 · c8 · span 489171–489180 |
| 5 | Section 03, Michael Skynner RSU | DEF 14A | 2026-04-22 | 0001104659-26-046806 | Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t83 · r7 · c8 · span 497516–497523 |
| 6 | Section 03, Kevin Lee OPTION | DEF 14A | 2026-04-22 | 0001104659-26-046806 | Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t83 · r5 · c6 · span 488609–488618 |
| 7 | Section 03, Michael Skynner OPTION | DEF 14A | 2026-04-22 | 0001104659-26-046806 | Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t83 · r7 · c6 · span 496956–496963 |
| 8 | Section 03, Alistair Milnes OPTION | DEF 14A | 2026-04-22 | 0001104659-26-046806 | Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t83 · r9 · c6 · span 505411–505418 |
| 9 | Section 03, Alistair Milnes RSU | DEF 14A | 2026-04-22 | 0001104659-26-046806 | Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t83 · r9 · c8 · span 505971–505978 |
| 10 | Section 07, pay ratio | DEF 14A | 2026-04-22 | 0001104659-26-046806 | Section “CEO Pay Ratio”. As printed: —. Filing ↗ |
| 11 | Section 08, Pierre Legault, MBA, CPA | DEF 14A | 2026-04-22 | 0001104659-26-046806 | Section “Director Compensation”. As printed: 546,875. Filing ↗machine: t65 · r10 · c10 · span 394195–394202 |
| 12 | Section 08, Jose-Carlos Gutierrez-Ramos, Ph.D | DEF 14A | 2026-04-22 | 0001104659-26-046806 | Section “Director Compensation”. As printed: 370,578. Filing ↗machine: t65 · r7 · c10 · span 385275–385282 |
| 13 | Section 08, Alessandro Riva, M.D | DEF 14A | 2026-04-22 | 0001104659-26-046806 | Section “Director Compensation”. As printed: 322,657. Filing ↗machine: t65 · r11 · c10 · span 397071–397078 |
| 14 | Section 08, Janice Bourque, MBA | DEF 14A | 2026-04-22 | 0001104659-26-046806 | Section “Director Compensation”. As printed: 304,661. Filing ↗machine: t65 · r5 · c10 · span 379223–379230 |
| 15 | Section 08, Charles Swanton, M.D., Ph.D., FRS, FMedSci, FRCP | DEF 14A | 2026-04-22 | 0001104659-26-046806 | Section “Director Compensation”. As printed: 280,948. Filing ↗machine: t65 · r13 · c10 · span 403173–403180 |
| 16 | Section 08, Stephen Sands, MBA | DEF 14A | 2026-04-22 | 0001104659-26-046806 | Section “Director Compensation”. As printed: 273,174. Filing ↗machine: t65 · r12 · c10 · span 400150–400157 |
| 17 | Section 08, Sir Gregory Winter, FRS | DEF 14A | 2026-04-22 | 0001104659-26-046806 | Section “Director Compensation”. As printed: 272,683. Filing ↗machine: t65 · r14 · c10 · span 406196–406203 |
| 18 | Section 08, Richard Kender, MBA | DEF 14A | 2026-04-22 | 0001104659-26-046806 | Section “Director Compensation”. As printed: 265,200. Filing ↗machine: t65 · r9 · c10 · span 391147–391154 |
| 19 | Section 08, Roger Dansey, M.D | DEF 14A | 2026-04-22 | 0001104659-26-046806 | Section “Director Compensation”. As printed: 246,859. Filing ↗machine: t65 · r6 · c10 · span 382387–382394 |
| 20 | Section 08, Felix J. Baker, Ph.D | DEF 14A | 2026-04-22 | 0001104659-26-046806 | Section “Director Compensation”. As printed: 234,929. Filing ↗machine: t65 · r4 · c10 · span 376475–376482 |
| 21 | Section 08, Herve Hoppenot | DEF 14A | 2026-04-22 | 0001104659-26-046806 | Section “Director Compensation”. As printed: 229,236. Filing ↗machine: t65 · r8 · c10 · span 388275–388282 |
| 22 | Section 08, Kevin Lee, Ph.D., MBA | DEF 14A | 2026-04-22 | 0001104659-26-046806 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 23 | Section 02, Michael Skynner 2026-07-02 | Form 4 | 2026-07-07 | 0001776582-26-000006 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 24 | Section 02, Jennifer Scott Perry 2026-07-02 | Form 4 | 2026-07-07 | 0002119908-26-000007 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 25 | Section 02, Jennifer Scott Perry 2026-07-02 | Form 4 | 2026-07-07 | 0002119908-26-000007 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 26 | Section 02, Kevin Lee 2026-07-02 | Form 4 | 2026-07-07 | 0001776938-26-000006 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 27 | Section 02, Michael Skynner 2026-07-02 | Form 4 | 2026-07-07 | 0001776582-26-000006 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 28 | Section 02, Hannay Michael Charles Ferguson 2026-07-02 | Form 4 | 2026-07-07 | 0002015378-26-000006 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 29 | Section 02, Kevin Lee 2026-07-02 | Form 4 | 2026-07-07 | 0001776938-26-000006 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 30 | Section 02, Hannay Michael Charles Ferguson 2026-07-02 | Form 4 | 2026-07-07 | 0002015378-26-000006 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 31 | Section 02, Travis Alvin Thompson 2026-07-02 | Form 4 | 2026-07-07 | 0001983944-26-000008 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 32 | Section 02, Travis Alvin Thompson 2026-07-02 | Form 4 | 2026-07-07 | 0001983944-26-000008 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 33 | Section 02, Jennifer Scott Perry 2026-07-02 | Form 4 | 2026-07-07 | 0002119908-26-000007 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 34 | Section 02, Travis Alvin Thompson 2026-07-15 | Form 4 | 2026-07-17 | 0001983944-26-000010 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 35 | Section 02, Hannay Michael Charles Ferguson 2026-07-15 | Form 4 | 2026-07-17 | 0002015378-26-000008 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 36 | Section 02, Michael Skynner 2026-07-15 | Form 4 | 2026-07-17 | 0001776582-26-000008 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 37 | Section 02, Jennifer Scott Perry 2026-07-15 | Form 4 | 2026-07-17 | 0002119908-26-000009 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 38 | Section 06, 2026 vote | Form 8-K | 2026-06-18 | 0001104659-26-075451 | Item 5.07 · say-on-pay result. As reported: 98.42% (votes for as printed: 48,748,743). Filing ↗ |
| 39 | Section 06, 2025 vote | Form 8-K | 2025-06-17 | 0001104659-25-060316 | Item 5.07 · say-on-pay result. As reported: 96.45% (votes for as printed: 47,287,428). Filing ↗ |
| 40 | Section 06, 2024 vote | Form 8-K | 2024-05-16 | 0001104659-24-062503 | Item 5.07 · say-on-pay result. As reported: 96.78% (votes for as printed: 36,186,115). Filing ↗ |
| 41 | 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 |
| 42 | Section 09b board cost (computed) | Computed | — | computed | Cash 639,545 + equity 1,049,352 + all other 242,094 = 1,930,991, summed across the director compensation table rows.machine: formula: Σ = 1,930,991 |
| 43 | Bicycle Therapeutics (subject), Section 10b CEO total | DEF 14A | 2026-04-22 | 0001104659-26-046806 | CEO total compensation as printed in Bicycle Therapeutics's own proxy. As printed: 6,341,473. Filing ↗machine: t83 · r5 · c14 · span 491024–491033 |