Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-16

Cardiff Oncology (CRDF)

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.

$3,023,344
Mark Erlander total, FY2025
1st
CEO pay percentile vs peers
CEO-to-median pay ratio
90.62%
Say-on-pay support, latest vote
Companies that benchmark against CRDF
1 company names CRDF as a compensation peer

Each company listed discloses CRDF 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 CRDF 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
Mark Erlander$635,000$0$0$2,266,106$122,238$0$0$3,023,344
Chief Executive Officer
Roger Sidhu279,370001,920,27574,160002,273,805
Chief Medical Officer
James Levine490,00000993,87561,740001,545,615
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
Mark Erlander$3,023,344$2,401,376+621,968
Roger Sidhu2,273,805
James Levine1,545,6151,266,364+279,251

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

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
Ajay AggarwalChief Operating Officer2026-04-27A400,000$0$0Derivative, Class A CommonForm 4 ↗
Lale WhiteDirector2026-06-11A40,56500Derivative, Class A CommonForm 4 ↗
James O. ArmitageDirector2026-06-11A40,56500Derivative, Class A CommonForm 4 ↗
Renee P. TannenbaumDirector2026-06-11A40,56500Derivative, Class A CommonForm 4 ↗
Rodney S. MarkinDirector2026-06-11A40,56500Derivative, Class A CommonForm 4 ↗
Gary W. PaceDirector2026-06-11A40,56500Derivative, Class A CommonForm 4 ↗
Gary W. PaceDirector2026-06-18A30,000136,600CommonForm 4 ↗
Mani MohindruDirector2026-06-18A24,703129,891CommonForm 4 ↗
Gary W. PaceDirector2026-07-14A687,28500Derivative, Class A CommonForm 4 ↗
Mani MohindruDirector2026-07-14A34,364150,000CommonForm 4 ↗
Mani MohindruDirector2026-07-14A34,36400Derivative, Class A CommonForm 4 ↗
Gary W. PaceDirector2026-07-14A687,28511,000,000CommonForm 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
Mark ErlanderOption$2,266,106
James LevineOption993,875
Roger SidhuOption1,920,275
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Mark Erlander$0$0$2,266,1060.0%
James Levine00993,8750.0%
Roger Sidhu001,920,2750.0%

% 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
James LevineOption61,7101.72
Mark ErlanderOption150,6451.72
Mark ErlanderOption286,8753.51
James LevineOption10,6262.5
Mark ErlanderOption23,1332.5
James LevineOption332,6213.58
Mark ErlanderOption758,4003.58
James LevineOption115,3173.51
Roger SidhuOption600,0003.86
05

Incentive-plan design — the Compensation Discussion & Analysis

Our compensation philosophy is to offer our employees compensation and benefits that are competitive and that meet our goals of attracting, retaining and motivating highly skilled employees so that we can achieve our financial and strategic objectives.

CEO STI target (% of salary)55%
CEO LTI target (% of salary)
Independent consultantAon
Clawback policyTrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-1117,120,1761,772,185437,04990.62%Passed
20252025-06-2618,881,8172,576,465539,75587.99%Passed
20242024-06-2013,280,9192,131,944410,74786.17%Passed
20232023-06-1511,916,2102,419,195292,66583.12%Passed
20222022-06-097,931,0267,356,1862,020,45245.82%Failed
20192019-06-06827,83687,82249,87190.41%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
20262026-06-1190.62%a
20252025-06-2687.99%b
20242024-06-2086.17%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
Rodney S. MarkinIndependent · Audit · Compensation$119,000$0$106,670$0$225,670
Lale WhiteIndependent · Audit (Chair) · Compensation82,5000106,6700189,170
Gary W. PaceIndependent · Nominating/Governance (Chair)77,5000106,6700184,170
Mani MohindruEmployee director77,0000106,6700183,670
Renee P. TannenbaumIndependent · Compensation (Chair) · Nominating/Governance75,0000106,6700181,670
James O. ArmitageIndependent · Audit · Nominating/Governance69,0000106,6700175,670
09

Board fee structure and ownership guideline

Annual cash retainer$65,000
Annual equity retainer
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)16,000 / 10,000 / 8,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$500,000
Equity awards (grant-date value)$0
All other compensation$0
Total cost of the board$500,000

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

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Cardiff Oncology names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Cardiff Oncology.

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
1Structure2025Raymond Stevens$672,094$2,387,996$4,846,926$508,871$8,429,887
2Cardiff Oncology2025Mark Erlander635,00002,266,106122,2383,023,344

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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Cardiff Oncology35%Options 100not disclosedAon
Structure125%Options 67 · RSU 33NoAon

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

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, Mark ErlanderDEF 14A2026-04-230001213037-26-000006Section “Summary Compensation Table”. As printed: 3,023,344. Filing ↗machine: r2 · c16 · span 873925–873934
2Section 01, Roger SidhuDEF 14A2026-04-230001213037-26-000006Section “Summary Compensation Table”. As printed: 2,273,805. Filing ↗machine: r6 · c15 · span 899373–899382
3Section 01, James LevineDEF 14A2026-04-230001213037-26-000006Section “Summary Compensation Table”. As printed: 1,545,615. Filing ↗machine: r4 · c16 · span 886617–886626
4Section 03, Mark Erlander OptionDEF 14A2026-04-230001213037-26-000006Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t22 · r2 · c9 · span 838863–838872
5Section 03, James Levine OptionDEF 14A2026-04-230001213037-26-000006Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t22 · r3 · c9 · span 843159–843166
6Section 03, Roger Sidhu OptionDEF 14A2026-04-230001213037-26-000006Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t22 · r4 · c9 · span 847447–847456
7Section 07, pay ratio10-K2026-02-240001193125-26-067464Section “CEO Pay Ratio”. As printed: —. Filing ↗
8Section 08, Rodney S. MarkinDEF 14A2026-04-230001213037-26-000006Section “Director Compensation”. As printed: 225,670. Filing ↗
9Section 08, Lale WhiteDEF 14A2026-04-230001213037-26-000006Section “Director Compensation”. As printed: 189,170. Filing ↗machine: t8 · r7 · c11 · span 414880–414887
10Section 08, Gary W. PaceDEF 14A2026-04-230001213037-26-000006Section “Director Compensation”. As printed: 184,170. Filing ↗
11Section 08, Mani MohindruDEF 14A2026-04-230001213037-26-000006Section “Director Compensation”. As printed: 183,670. Filing ↗
12Section 08, Renee P. TannenbaumDEF 14A2026-04-230001213037-26-000006Section “Director Compensation”. As printed: 181,670. Filing ↗
13Section 08, James O. ArmitageDEF 14A2026-04-230001213037-26-000006Section “Director Compensation”. As printed: 175,670. Filing ↗
14Section 02, Ajay Aggarwal 2026-04-27Form 42026-04-280002132312-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
15Section 02, Lale White 2026-06-11Form 42026-06-150001635493-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
16Section 02, James O. Armitage 2026-06-11Form 42026-06-150001370087-26-000005Insider equity transaction reported since the proxy statement. Filing ↗
17Section 02, Renee P. Tannenbaum 2026-06-11Form 42026-06-150001543174-26-000005Insider equity transaction reported since the proxy statement. Filing ↗
18Section 02, Rodney S. Markin 2026-06-11Form 42026-06-150001393415-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
19Section 02, Gary W. Pace 2026-06-11Form 42026-06-150001184778-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, Gary W. Pace 2026-06-18Form 42026-06-220001184778-26-000009Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, Mani Mohindru 2026-06-18Form 42026-06-220001664708-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Gary W. Pace 2026-07-14Form 42026-07-160001193125-26-306083Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Mani Mohindru 2026-07-14Form 42026-07-160001193125-26-306072Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Mani Mohindru 2026-07-14Form 42026-07-160001193125-26-306072Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Gary W. Pace 2026-07-14Form 42026-07-160001193125-26-306083Insider equity transaction reported since the proxy statement. Filing ↗
26Section 06, 2026 voteForm 8-K2026-06-110001193125-26-267563Item 5.07 · say-on-pay result. As reported: 90.62% (votes for as printed: 17,120,176). Filing ↗
27Section 06, 2025 voteForm 8-K2025-06-260001641172-25-016659Item 5.07 · say-on-pay result. As reported: 87.99% (votes for as printed: 18,881,817). Filing ↗
28Section 06, 2024 voteForm 8-K2024-06-200001628280-24-029108Item 5.07 · say-on-pay result. As reported: 86.17% (votes for as printed: 13,280,919). Filing ↗
29Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
30Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
31Section 09b board cost (computed)ComputedcomputedCash 500,000 + equity 0 + all other 0 = 500,000, summed across the director compensation table rows.machine: formula: Σ = 500,000
32Structure, Section 10b CEO totalDEF 14A2026-04-230001104659-26-047740CEO total compensation as printed in Structure's own proxy. As printed: 8,429,887. Filing ↗machine: r1 · c47 · span 552927–552936
33Cardiff Oncology (subject), Section 10b CEO totalDEF 14A2026-04-230001213037-26-000006CEO total compensation as printed in Cardiff Oncology's own proxy. As printed: 3,023,344. Filing ↗machine: r2 · c16 · span 873925–873934
34Section 10a, Structure reciprocityDEF 14A0001104659-26-047740Structure's most recent proxy was read; its disclosed peer group does not include Cardiff Oncology. Filing ↗