Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-02

Forte Biosciences (FBRX)

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.

$7,358,587
Paul Wagner total, FY2025
CEO pay percentile vs peers
CEO-to-median pay ratio
76.33%
Say-on-pay support, latest vote
Companies that benchmark against FBRX
No companies currently name FBRX as a compensation peer in their most recent disclosure.

This is the complete answer, not a partial one — the list is never padded.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Paul Wagner$670,051$0$0$5,951,480$737,056$0$0$7,358,587
Chairman, President and Chief Executive Officer
Antony Riley452,109002,089,487180,844002,722,440
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
Paul Wagner$7,358,587
Antony Riley2,722,440

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

No insider equity transactions reported since the proxy statement.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Antony RileyOption7,87517.25
Paul WagnerRSU6,250525,000
Antony RileyPSU2,976294,984
Paul WagnerPSU3,511294,924
Antony RileyRSU1,875185,852
Paul WagnerOption25043
Paul WagnerOption24,75017.25
Paul WagnerOption638,8897.54
Antony RileyOption224,3067.54
05

Incentive-plan design — the Compensation Discussion & Analysis

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantFrederic W. Cook & Co.
Clawback policytrue
Anti-hedging
Anti-pledging
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-2912,143,1533,764,729352,08976.33%Passed
20232023-09-199,907,98311,751,1115,835,02845.75%Failed

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
20262026-05-2976.33%a
20232023-09-1945.75%b

a. Voting standard not stated in the filing.

b. 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.

08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Barbara K. Finck, M.DNot independent$0$0$186,719$600,000$786,719
Steven KornfeldIndependent · Audit · Nominating and Corporate Governance (Chair) · Compensation87,6140200,5390288,153
Richard VincentIndependent · Audit (Chair)71,2020200,5390271,741
Scott Brun, M.DIndependent54,4800200,5390255,019
David GryskaIndependent · Audit52,0670200,5390252,606
Stephen K. Doberstein, Ph.DIndependent · Compensation49,4800200,5390250,019
Shiv KapoorIndependent · Compensation47,5000200,5390248,039
Paul A. Wagner, Ph.DEmployee director · Board Chair0
09

Board fee structure and ownership guideline

Annual cash retainer$42,500
Annual equity retainer
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)20,000 / 14,000 / 10,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$362,343
Equity awards (grant-date value)$0
All other compensation$600,000
Total cost of the board$962,343

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
1Forte Biosciences2025Paul Wagner$670,051$0$5,951,480$737,056$7,358,587

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.

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, Paul WagnerDEF 14A2026-04-290001193125-26-191515Section “Executive Compensation”. As printed: 7,358,587. Filing ↗machine: r2 · c31 · span 399851–399860
2Section 01, Antony RileyDEF 14A2026-04-290001193125-26-191515Section “Executive Compensation”. As printed: 2,722,440. Filing ↗machine: r5 · c31 · span 405035–405044
3Section 08, Barbara K. Finck, M.DDEF 14A2026-04-290001193125-26-191515Section “Director Compensation”. As printed: 786,719. Filing ↗machine: span 243814–243821
4Section 08, Steven KornfeldDEF 14A2026-04-290001193125-26-191515Section “Director Compensation”. As printed: 288,153. Filing ↗machine: span 239765–239772
5Section 08, Richard VincentDEF 14A2026-04-290001193125-26-191515Section “Director Compensation”. As printed: 271,741. Filing ↗machine: span 246500–246507
6Section 08, Scott Brun, M.DDEF 14A2026-04-290001193125-26-191515Section “Director Compensation”. As printed: 255,019. Filing ↗machine: span 241098–241105
7Section 08, David GryskaDEF 14A2026-04-290001193125-26-191515Section “Director Compensation”. As printed: 252,606. Filing ↗machine: span 245168–245175
8Section 08, Stephen K. Doberstein, Ph.DDEF 14A2026-04-290001193125-26-191515Section “Director Compensation”. As printed: 250,019. Filing ↗machine: span 242468–242475
9Section 08, Shiv KapoorDEF 14A2026-04-290001193125-26-191515Section “Director Compensation”. As printed: 248,039. Filing ↗machine: span 247853–247860
10Section 08, Paul A. Wagner, Ph.DDEF 14A2026-04-290001193125-26-191515Section “Director Compensation”. As printed: 0. Filing ↗
11Section 06, 2026 voteForm 8-K2026-06-020001193125-26-253436Item 5.07 · say-on-pay result. As reported: 76.33% (votes for as printed: 12,143,153). Filing ↗
12Section 06, 2023 voteForm 8-K2023-09-200001193125-23-238588Item 5.07 · say-on-pay result. As reported: 45.75% (votes for as printed: 9,907,983). Filing ↗
13Section 09b board cost (computed)ComputedcomputedCash 362,343 + equity 0 + all other 600,000 = 962,343, summed across the director compensation table rows.machine: formula: Σ = 962,343
14Forte Biosciences (subject), Section 10b CEO totalDEF 14A2026-04-290001193125-26-191515CEO total compensation as printed in Forte Biosciences's own proxy. As printed: 7,358,587. Filing ↗machine: r2 · c31 · span 399851–399860