Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-10-07

Bicycle Therapeutics (BCYC)

CEO Kevin Lee was paid $6,341,473 in fiscal year 2025, ↑ up 30.6% from fiscal year 2024, the 37th percentile of its disclosed peer group (SEC filing 0001104659-26-046806 ↗): 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.

$6,341,473 ↑
Kevin Lee total, FY2025
37th
CEO pay percentile vs peers
—
CEO-to-median pay ratio
98.42%
Say-on-pay support, latest vote

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BCYC's next annual pay disclosure, estimated April 21, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Kevin Lee$862,339$0$1,724,800$2,961,297$543,642$0$249,395$6,341,473
Chief Executive Officer
Michael Skynner612,4710490,000836,470319,355068,7142,327,010
Chief Technology Officer (2025); Chief Scientific Officer (effective January 1, 2026)
Alistair Milnes578,1890490,000836,470322,520065,2452,292,424
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.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Kevin Lee$6,341,473$4,857,218$5,540,400↑ +1,484,255
Michael Skynner2,327,010———
Alistair Milnes2,292,4242,591,5732,084,264↓ −299,149

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 BCYC
9 companies name BCYC as a compensation peer

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.

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
Alessandro Riva, M.DIndependent Director$322,657
Charles Swanton, M.D., Ph.D., FRS, FMedSci, FRCPIndependent Director$280,948
Felix J. Baker, Ph.DChair of the Board$234,929
Herve HoppenotIndependent Director$229,236
Janice Bourque, MBAFormer director (through FY2025)$304,661
Jose-Carlos Gutierrez-Ramos, Ph.DIndependent Director$370,578
Pierre Legault, MBA, CPAFormer director (through FY2025)$546,875
Richard Kender, MBAFormer director (through FY2025)$265,200
Roger Dansey, M.DIndependent Director$246,859
Sir Gregory Winter, FRSFormer director (through FY2025)$272,683
Stephen Sands, MBAIndependent Director$273,174
02

Equity transactions since the proxy statement was filed

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.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Jennifer Scott PerryChief Operating Officer2026-07-02D1,036$4$4,424CommonForm 4 ↗
Travis Alvin ThompsonChief Financial Officer2026-07-02D81943,497CommonForm 4 ↗
Kevin LeeDirector2026-07-02D5,905425,214CommonForm 4 ↗
Michael SkynnerCHIEF SCIENTIFIC OFFICER2026-07-02D1,85947,938CommonForm 4 ↗
Hannay Michael Charles FergusonCHIEF PROD & SUPPLY CHAIN OFF2026-07-02D1,50646,431CommonForm 4 ↗
Michael SkynnerCHIEF SCIENTIFIC OFFICER2026-07-06D53242,293CommonForm 4 ↗
Kevin LeeDirector2026-07-06D1,73747,486CommonForm 4 ↗
Jennifer Scott PerryChief Operating Officer2026-07-06D33341,445CommonForm 4 ↗
Jennifer Scott PerryChief Operating Officer2026-07-06D434185CommonForm 4 ↗
Travis Alvin ThompsonChief Financial Officer2026-07-06D1044448CommonForm 4 ↗
Hannay Michael Charles FergusonCHIEF PROD & SUPPLY CHAIN OFF2026-07-06D25541,099CommonForm 4 ↗
Jennifer Scott PerryChief Operating Officer2026-07-15A60,00000Derivative, Class A CommonForm 4 ↗
Hannay Michael Charles FergusonCHIEF PROD & SUPPLY CHAIN OFF2026-07-15A60,00000Derivative, Class A CommonForm 4 ↗
Travis Alvin ThompsonChief Financial Officer2026-07-15A60,00000Derivative, Class A CommonForm 4 ↗
Michael SkynnerCHIEF SCIENTIFIC OFFICER2026-07-15A60,00000Derivative, Class A CommonForm 4 ↗
Kevin LeeDirector2026-10-02D6,167321,399CommonForm 4 ↗
Michael SkynnerCHIEF SCIENTIFIC OFFICER2026-10-02D1,94236,739CommonForm 4 ↗
Jennifer Scott PerryChief Operating Officer2026-10-02D1,09433,796CommonForm 4 ↗
Robert Charles SwantonDirector2026-10-02D3,431311,906CommonForm 4 ↗
Hannay Michael Charles FergusonCHIEF PROD & SUPPLY CHAIN OFF2026-10-02D1,57235,455CommonForm 4 ↗
Travis Alvin ThompsonChief Financial Officer2026-10-02D89333,099CommonForm 4 ↗
Jennifer Scott PerryChief Operating Officer2026-10-05D32641,232CommonForm 4 ↗
Jennifer Scott PerryChief Operating Officer2026-10-05D304107CommonForm 4 ↗
Kevin LeeDirector2026-10-05D1,63845,848CommonForm 4 ↗
Michael SkynnerCHIEF SCIENTIFIC OFFICER2026-10-05D50341,796CommonForm 4 ↗
Jennifer Scott PerryChief Operating Officer2026-10-05D32641,232CommonForm 4 ↗
Jennifer Scott PerryChief Operating Officer2026-10-05D804285CommonForm 4 ↗
Hannay Michael Charles FergusonCHIEF PROD & SUPPLY CHAIN OFF2026-10-05D2424864CommonForm 4 ↗
Travis Alvin ThompsonChief Financial Officer2026-10-05D794282CommonForm 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.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Michael SkynnerOPTION—————$836,470
Alistair MilnesRSU—————490,000
Kevin LeeRSU—————1,724,800
Michael SkynnerRSU—————490,000
Kevin LeeOPTION—————2,961,297
Alistair MilnesOPTION—————836,470
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Michael Skynner$490,000$0$836,4700.0%
Alistair Milnes490,0000836,4700.0%
Kevin Lee1,724,80002,961,2970.0%

% 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
Alistair MilnesRSU938—$6,641
Michael SkynnerOption87,00014—
Alistair MilnesOption2,08460.87—
Kevin LeeRSU123,200—872,256
Kevin LeeRSU43,313—306,656
Kevin LeeRSU3,125—22,125
Michael SkynnerOption62560.87—
Kevin LeeOption308,00014—
Michael SkynnerRSU15,750—111,510
Michael SkynnerOption29,16718.08—
Alistair MilnesRSU35,000—247,800
Michael SkynnerRSU5,469—38,721
Michael SkynnerRSU938—6,641
Michael SkynnerOption9,48029.6—
Alistair MilnesRSU5,469—38,721
Michael SkynnerRSU35,000—247,800
Kevin LeeOption2,08460.87—
Kevin LeeOption80,73018.08—
Alistair MilnesOption87,00014—
Alistair MilnesOption9,48029.6—
Alistair MilnesRSU21,938—155,321
Kevin LeeOption31,14629.6—
Alistair MilnesOption40,10518.08—
Kevin LeeRSU17,969—127,221
05

Incentive-plan design — the Compensation Discussion & Analysis

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 policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-1748,748,743785,032163,13398.42%Passed
20252025-06-1747,287,4281,743,008104,62396.45%Passed
20242024-05-1636,186,1151,202,4779,51596.78%Passed
20232023-06-1326,083,0841,965,0198,81892.99%Passed
20222022-06-2723,466,799276,7551,801,17998.83%Passed
20212021-06-2819,098,902556,5511,969,18497.17%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.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-06-1798.42%a
20252025-06-1796.45%b
20242024-05-1696.78%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.

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
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 Governance90,00087,500120,183072,895370,578
Alessandro Riva, M.DIndependent · Audit · Compensation · Newly elected54,173115,000153,48400322,657
Janice Bourque, MBAIndependent · Audit · Compensation (Chair) · Not standing for re-election · Departed during FY95,00087,500120,18301,978304,661
Charles Swanton, M.D., Ph.D., FRS, FMedSci, FRCPIndependent · Nominating and Corporate Governance · Newly elected24,71593,250121,733041,250280,948
Stephen Sands, MBAIndependent · Audit (Chair)91,98175,502103,71301,978273,174
Sir Gregory Winter, FRSIndependent · Nominating and Corporate Governance · Not standing for re-election · Departed during FY65,00087,500120,18300272,683
Richard Kender, MBAIndependent · Compensation · Nominating and Corporate Governance · Not standing for re-election · Departed during FY55,53987,500120,18301,978265,200
Roger Dansey, M.DIndependent · Audit · Newly elected22,07789,500116,082019,200246,859
Felix J. Baker, Ph.DIndependent · Board Chair · Nominating and Corporate Governance88,71161,60084,61800234,929
Herve HoppenotIndependent · Audit · Newly elected23,65489,500116,08200229,236
Kevin Lee, Ph.D., MBAEmployee director000—00
09

Board fee structure and ownership guideline

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$135,000
09b

Total cost of the board

ComponentFY2025
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.

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
1Bicycle Therapeutics2025Kevin 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.

10d

Frequently asked questions

Who was the highest-paid executive at Bicycle Therapeutics in fiscal 2025?
As disclosed, Kevin Lee (Chief Executive Officer) was the highest-paid executive at Bicycle Therapeutics in fiscal 2025, with total compensation of $6,341,473.
How does Bicycle Therapeutics's chief executive pay compare to its disclosed peer group?
As disclosed, Kevin Lee's total compensation ranked at the 37th percentile of Bicycle Therapeutics's disclosed peer group.
How did shareholders vote on Bicycle Therapeutics's executive compensation?
As disclosed, 98.42% of shareholders supported Bicycle Therapeutics's executive compensation in the latest say-on-pay vote.
How much does Bicycle Therapeutics spend in total on board compensation for fiscal 2025?
As disclosed, Bicycle Therapeutics reported total board compensation of $1,930,991 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, Kevin LeeDEF 14A2026-04-220001104659-26-046806Section “Summary Compensation Table”. As printed: 6,341,473. Filing ↗machine: t83 · r5 · c14 · span 491024–491033
2Section 01, Michael SkynnerDEF 14A2026-04-220001104659-26-046806Section “Summary Compensation Table”. As printed: 2,327,010. Filing ↗machine: t83 · r7 · c14 · span 499366–499375
3Section 01, Alistair MilnesDEF 14A2026-04-220001104659-26-046806Section “Summary Compensation Table”. As printed: 2,292,424. Filing ↗machine: t83 · r9 · c14 · span 507821–507830
4Section 03, Michael Skynner OPTIONDEF 14A2026-04-220001104659-26-046806Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t83 · r7 · c6 · span 496956–496963
5Section 03, Alistair Milnes RSUDEF 14A2026-04-220001104659-26-046806Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t83 · r9 · c8 · span 505971–505978
6Section 03, Kevin Lee RSUDEF 14A2026-04-220001104659-26-046806Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t83 · r5 · c8 · span 489171–489180
7Section 03, Michael Skynner RSUDEF 14A2026-04-220001104659-26-046806Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t83 · r7 · c8 · span 497516–497523
8Section 03, Kevin Lee OPTIONDEF 14A2026-04-220001104659-26-046806Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t83 · r5 · c6 · span 488609–488618
9Section 03, Alistair Milnes OPTIONDEF 14A2026-04-220001104659-26-046806Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t83 · r9 · c6 · span 505411–505418
10Section 07, pay ratioDEF 14A2026-04-220001104659-26-046806Section “CEO Pay Ratio”. As printed: —. Filing ↗
11Section 08, Pierre Legault, MBA, CPADEF 14A2026-04-220001104659-26-046806Section “Director Compensation”. As printed: 546,875. Filing ↗machine: t65 · r10 · c10 · span 394040–394213
12Section 08, Jose-Carlos Gutierrez-Ramos, Ph.DDEF 14A2026-04-220001104659-26-046806Section “Director Compensation”. As printed: 370,578. Filing ↗machine: t65 · r7 · c10 · span 385120–385293
13Section 08, Alessandro Riva, M.DDEF 14A2026-04-220001104659-26-046806Section “Director Compensation”. As printed: 322,657. Filing ↗machine: t65 · r11 · c10 · span 396916–397089
14Section 08, Janice Bourque, MBADEF 14A2026-04-220001104659-26-046806Section “Director Compensation”. As printed: 304,661. Filing ↗machine: t65 · r5 · c10 · span 379068–379241
15Section 08, Charles Swanton, M.D., Ph.D., FRS, FMedSci, FRCPDEF 14A2026-04-220001104659-26-046806Section “Director Compensation”. As printed: 280,948. Filing ↗machine: t65 · r13 · c10 · span 403018–403191
16Section 08, Stephen Sands, MBADEF 14A2026-04-220001104659-26-046806Section “Director Compensation”. As printed: 273,174. Filing ↗machine: t65 · r12 · c10 · span 399995–400168
17Section 08, Sir Gregory Winter, FRSDEF 14A2026-04-220001104659-26-046806Section “Director Compensation”. As printed: 272,683. Filing ↗machine: t65 · r14 · c10 · span 406041–406214
18Section 08, Richard Kender, MBADEF 14A2026-04-220001104659-26-046806Section “Director Compensation”. As printed: 265,200. Filing ↗machine: t65 · r9 · c10 · span 390992–391165
19Section 08, Roger Dansey, M.DDEF 14A2026-04-220001104659-26-046806Section “Director Compensation”. As printed: 246,859. Filing ↗machine: t65 · r6 · c10 · span 382232–382405
20Section 08, Felix J. Baker, Ph.DDEF 14A2026-04-220001104659-26-046806Section “Director Compensation”. As printed: 234,929. Filing ↗machine: t65 · r4 · c10 · span 376320–376493
21Section 08, Herve HoppenotDEF 14A2026-04-220001104659-26-046806Section “Director Compensation”. As printed: 229,236. Filing ↗machine: t65 · r8 · c10 · span 388120–388293
22Section 08, Kevin Lee, Ph.D., MBADEF 14A2026-04-220001104659-26-046806Section “Director Compensation”. As printed: 0. Filing ↗
23Section 02, Jennifer Scott Perry 2026-07-02Form 42026-07-070002119908-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Travis Alvin Thompson 2026-07-02Form 42026-07-070001983944-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Kevin Lee 2026-07-02Form 42026-07-070001776938-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Michael Skynner 2026-07-02Form 42026-07-070001776582-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Hannay Michael Charles Ferguson 2026-07-02Form 42026-07-070002015378-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Michael Skynner 2026-07-06Form 42026-07-070001776582-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Kevin Lee 2026-07-06Form 42026-07-070001776938-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Jennifer Scott Perry 2026-07-06Form 42026-07-070002119908-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Jennifer Scott Perry 2026-07-06Form 42026-07-070002119908-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Travis Alvin Thompson 2026-07-06Form 42026-07-070001983944-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Hannay Michael Charles Ferguson 2026-07-06Form 42026-07-070002015378-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Jennifer Scott Perry 2026-07-15Form 42026-07-170002119908-26-000009Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Hannay Michael Charles Ferguson 2026-07-15Form 42026-07-170002015378-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Travis Alvin Thompson 2026-07-15Form 42026-07-170001983944-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Michael Skynner 2026-07-15Form 42026-07-170001776582-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Kevin Lee 2026-10-02Form 42026-10-060001776938-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Michael Skynner 2026-10-02Form 42026-10-060001776582-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Jennifer Scott Perry 2026-10-02Form 42026-10-060002119908-26-000011Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Robert Charles Swanton 2026-10-02Form 42026-10-060002079922-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Hannay Michael Charles Ferguson 2026-10-02Form 42026-10-060002015378-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, Travis Alvin Thompson 2026-10-02Form 42026-10-060001983944-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
44Section 02, Jennifer Scott Perry 2026-10-05Form 42026-10-070002119908-26-000013Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, Jennifer Scott Perry 2026-10-05Form 42026-10-070002119908-26-000013Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, Kevin Lee 2026-10-05Form 42026-10-060001776938-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
47Section 02, Michael Skynner 2026-10-05Form 42026-10-060001776582-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
48Section 02, Jennifer Scott Perry 2026-10-05Form 42026-10-060002119908-26-000011Insider equity transaction reported since the proxy statement. Filing ↗
49Section 02, Jennifer Scott Perry 2026-10-05Form 42026-10-060002119908-26-000011Insider equity transaction reported since the proxy statement. Filing ↗
50Section 02, Hannay Michael Charles Ferguson 2026-10-05Form 42026-10-060002015378-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
51Section 02, Travis Alvin Thompson 2026-10-05Form 42026-10-060001983944-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
52Section 06, 2026 voteForm 8-K2026-06-180001104659-26-075451Item 5.07 · say-on-pay result. As reported: 98.42% (votes for as printed: 48,748,743). Filing ↗
53Section 06, 2025 voteForm 8-K2025-06-170001104659-25-060316Item 5.07 · say-on-pay result. As reported: 96.45% (votes for as printed: 47,287,428). Filing ↗
54Section 06, 2024 voteForm 8-K2024-05-160001104659-24-062503Item 5.07 · say-on-pay result. As reported: 96.78% (votes for as printed: 36,186,115). Filing ↗
55Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
56Section 03b vehicle mix (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
57Section 09b board cost (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
58Bicycle Therapeutics (subject), Section 10b CEO totalDEF 14A2026-04-220001104659-26-046806CEO total compensation as printed in Bicycle Therapeutics's own proxy. As printed: 6,341,473. Filing ↗machine: t83 · r5 · c14 · span 491024–491033

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