Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-14

4D Molecular Therapeutics (FDMT)

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.

$3,990,903
Kristian Humer total, FY2025
Chief Financial Officerhighest-paid officer; CEO David Kirn: $2,051,343
CEO (David Kirn) pay percentile vs peers
CEO-to-median pay ratio
97.46%
Say-on-pay support, latest vote
Companies that benchmark against FDMT
2 companies name FDMT as a compensation peer

Each company listed discloses FDMT 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 FDMT 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
Kristian Humer$66,000$50,000$0$3,874,656$0$0$247$3,990,903
Chief Financial Officer
David Kirn667,25200822,750560,59707442,051,343
President and Chief Executive Officer
Fariborz Kamal551,74300548,705339,51301,6121,441,573
Former Chief Operating Officer & President

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
Kristian Humer$3,990,903
David Kirn2,051,3431,009,004+1,042,339
Fariborz Kamal1,441,573734,607+706,966

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
David KirnDirector2026-06-01D1,922$10$19,258Common, open-market saleForm 4 ↗
Glenn SblendorioDirector2026-06-17A50,00000Derivative, Class A CommonForm 4 ↗
Jacob ChackoDirector2026-06-17A50,00000Derivative, Class A CommonForm 4 ↗
Shawn TomaselloDirector2026-06-17A50,00000Derivative, Class A CommonForm 4 ↗
John F. MilliganDirector2026-06-17A75,00000Derivative, Class A CommonForm 4 ↗
Nancy Miller-RichDirector2026-06-17A50,00000Derivative, Class A CommonForm 4 ↗
Charles TheuerDirector2026-06-17A50,00000Derivative, Class A CommonForm 4 ↗
Susannah GrayDirector2026-06-17A50,00000Derivative, Class A CommonForm 4 ↗
David KirnDirector2026-06-22D114,746101,200,851Common, open-market saleForm 4 ↗
Scott BizilyChief Legal Officer2026-06-23A9,810440,613CommonForm 4 ↗
Scott BizilyChief Legal Officer2026-06-23D9,81012117,720CommonForm 4 ↗
Scott BizilyChief Legal Officer2026-06-23D9,81000Derivative, Class A CommonForm 4 ↗
Scott BizilyChief Legal Officer2026-06-30A81443,370CommonForm 4 ↗
Scott BizilyChief Legal Officer2026-06-30D6,5661491,924CommonForm 4 ↗
Dividend-equivalent accruals2026-06-308141 insider, 1 accrual row
Scott BizilyChief Legal Officer2026-06-30D5,75200Derivative, Class A CommonForm 4 ↗
Scott BizilyChief Legal Officer2026-06-30A5,752637,330CommonForm 4 ↗
David KirnDirector2026-07-09D15,28312183,560Common, open-market saleForm 4 ↗
David KirnDirector2026-07-09D42,60813548,177Common, open-market saleForm 4 ↗
David KirnDirector2026-07-09D442135,673Common, open-market saleForm 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.

View all 20 transactions
InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
David KirnDirector2026-06-01D1,922$10$19,258Common, open-market saleForm 4 ↗
Glenn SblendorioDirector2026-06-17A50,00000Derivative, Class A CommonForm 4 ↗
Jacob ChackoDirector2026-06-17A50,00000Derivative, Class A CommonForm 4 ↗
Shawn TomaselloDirector2026-06-17A50,00000Derivative, Class A CommonForm 4 ↗
John F. MilliganDirector2026-06-17A75,00000Derivative, Class A CommonForm 4 ↗
Nancy Miller-RichDirector2026-06-17A50,00000Derivative, Class A CommonForm 4 ↗
Charles TheuerDirector2026-06-17A50,00000Derivative, Class A CommonForm 4 ↗
Susannah GrayDirector2026-06-17A50,00000Derivative, Class A CommonForm 4 ↗
David KirnDirector2026-06-22D114,746101,200,851Common, open-market saleForm 4 ↗
Scott BizilyChief Legal Officer2026-06-23A9,810440,613CommonForm 4 ↗
Scott BizilyChief Legal Officer2026-06-23D9,81012117,720CommonForm 4 ↗
Scott BizilyChief Legal Officer2026-06-23D9,81000Derivative, Class A CommonForm 4 ↗
Scott BizilyChief Legal Officer2026-06-30A81443,370CommonForm 4 ↗
Scott BizilyChief Legal Officer2026-06-30D6,5661491,924CommonForm 4 ↗
Scott BizilyChief Legal Officer2026-06-30D81400Derivative, Class A CommonForm 4 ↗
Scott BizilyChief Legal Officer2026-06-30D5,75200Derivative, Class A CommonForm 4 ↗
Scott BizilyChief Legal Officer2026-06-30A5,752637,330CommonForm 4 ↗
David KirnDirector2026-07-09D15,28312183,560Common, open-market saleForm 4 ↗
David KirnDirector2026-07-09D42,60813548,177Common, open-market saleForm 4 ↗
David KirnDirector2026-07-09D442135,673Common, open-market saleForm 4 ↗
03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
David KirnOption$822,750
Fariborz KamalOption548,705
Kristian HumerOption3,874,656
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
David Kirn$0$0$822,7500.0%
Fariborz Kamal00548,7050.0%
Kristian Humer003,874,6560.0%

% 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
David KirnOption6,25015.78
Fariborz KamalOption2,91715.78
Fariborz KamalOption11,2508.04
Fariborz KamalOption2,8138.06
Fariborz KamalOption130,00014.42
Kristian HumerOption480,00010.51
David KirnOption217,3444.14
Fariborz KamalOption144,9504.14
David KirnOption64,75020.24
David KirnOption295,00014.42
Fariborz KamalOption21,87520.24
05

Incentive-plan design — the Compensation Discussion & Analysis

We seek to ensure that the total compensation paid to our executive officers is reasonable and competitive. Compensation of our executives is structured around the achievement of individual performance and near-term corporate targets as well as long-term business objectives.

CEO STI target (% of salary)60%
CEO LTI target (% of salary)
Independent consultantRadford (part of the Rewards Solutions practice at Aon plc)
Clawback policyTrue
Anti-hedgingtrue
Anti-pledgingfalse
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-1736,065,437940,41467,37997.46%Passed
20252025-06-1731,841,967394,00235,44698.78%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
20262026-06-1797.46%a
20252025-06-1798.78%b

a. Approved under the standard stated in the filing — “Abstentions and broker non-votes will also have no effect on Proposal 3.”.

b. Approved under the standard stated in the filing — “Abstentions and broker non-votes will also have no effect on Proposal 3 and Proposal 4.”.

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
John F. Milligan, Ph.DNot independent · Board Chair$150,000$0$105,000$0$255,000
Charles Theuer, M.D., Ph.DIndependent · Audit · Nominating/Governance · Science and Technology (Chair)65,000070,0000135,000
Susannah Gray, MBAIndependent · Audit · Compensation (Chair)65,000070,0000135,000
Jacob Chacko, M.D., MBAIndependent · Audit (Chair) · Nominating/Governance65,000070,0000135,000
Shawn Cline Tomasello, MBAIndependent · Compensation · Nominating/Governance (Chair) · Science and Technology62,500070,0000132,500
Nancy Miller-RichIndependent · Compensation · Science and Technology52,500070,0000122,500
David Kirn, M.DEmployee director00000
Glenn SblendorioIndependent · Compensation · Science and Technology · Newly elected00000
09

Board fee structure and ownership guideline

Annual cash retainer$40,000
Annual equity retainer$70,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)10,000 / 20,000 / 5,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$460,000
Equity awards (grant-date value)$0
All other compensation$0
Total cost of the board$460,000

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
14D Molecular Therapeutics2025David Kirn$667,252$0$822,750$560,597$2,051,343

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, Kristian HumerDEF 14A2026-04-280001140361-26-017427Section “2025 Summary Compensation Table”. As printed: 3,990,903. Filing ↗machine: r4 · c21 · span 364041–364050
2Section 01, David KirnDEF 14A2026-04-280001140361-26-017427Section “2025 Summary Compensation Table”. As printed: 2,051,343. Filing ↗machine: r2 · c21 · span 356185–356194
3Section 01, Fariborz KamalDEF 14A2026-04-280001140361-26-017427Section “2025 Summary Compensation Table”. As printed: 1,441,573. Filing ↗machine: r5 · c21 · span 368780–368789
4Section 03, David Kirn OptionDEF 14A2026-04-280001140361-26-017427Section “TABLE OF CONTENTS EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t85 · r2 · c12 · span 354422–354429
5Section 03, Fariborz Kamal OptionDEF 14A2026-04-280001140361-26-017427Section “TABLE OF CONTENTS EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t85 · r5 · c12 · span 367012–367019
6Section 03, Kristian Humer OptionDEF 14A2026-04-280001140361-26-017427Section “TABLE OF CONTENTS EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t85 · r4 · c12 · span 362526–362535
7Section 07, pay ratio10-K2026-03-180001193125-26-114075Section “CEO Pay Ratio”. As printed: —. Filing ↗
8Section 08, John F. Milligan, Ph.DDEF 14A2026-04-280001140361-26-017427Section “Director Compensation”. As printed: 255,000. Filing ↗machine: r2 · c12 · span 300389–300396
9Section 08, Charles Theuer, M.D., Ph.DDEF 14A2026-04-280001140361-26-017427Section “Director Compensation”. As printed: 135,000. Filing ↗machine: t76 · r3 · c12 · span 302683–302690
10Section 08, Susannah Gray, MBADEF 14A2026-04-280001140361-26-017427Section “Director Compensation”. As printed: 135,000. Filing ↗machine: t76 · r5 · c12 · span 307609–307616
11Section 08, Jacob Chacko, M.D., MBADEF 14A2026-04-280001140361-26-017427Section “Director Compensation”. As printed: 135,000. Filing ↗machine: t76 · r4 · c12 · span 305324–305331
12Section 08, Shawn Cline Tomasello, MBADEF 14A2026-04-280001140361-26-017427Section “Director Compensation”. As printed: 132,500. Filing ↗machine: r7 · c12 · span 312411–312418
13Section 08, Nancy Miller-RichDEF 14A2026-04-280001140361-26-017427Section “Director Compensation”. As printed: 122,500. Filing ↗machine: t76 · r6 · c12 · span 310244–310251
14Section 08, David Kirn, M.DDEF 14A2026-04-280001140361-26-017427Section “Director Compensation”. As printed: 0. Filing ↗
15Section 08, Glenn SblendorioDEF 14A2026-04-280001140361-26-017427Section “Director Compensation”. As printed: 0. Filing ↗
16Section 02, David Kirn 2026-06-01Form 42026-06-020001193125-26-253740Insider equity transaction reported since the proxy statement. Filing ↗
17Section 02, Glenn Sblendorio 2026-06-17Form 42026-06-180001193125-26-276144Insider equity transaction reported since the proxy statement. Filing ↗
18Section 02, Jacob Chacko 2026-06-17Form 42026-06-180001193125-26-276138Insider equity transaction reported since the proxy statement. Filing ↗
19Section 02, Shawn Tomasello 2026-06-17Form 42026-06-180001193125-26-276168Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, John F. Milligan 2026-06-17Form 42026-06-180001193125-26-276149Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, Nancy Miller-Rich 2026-06-17Form 42026-06-180001193125-26-276163Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Charles Theuer 2026-06-17Form 42026-06-180001193125-26-276166Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Susannah Gray 2026-06-17Form 42026-06-180001193125-26-276160Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, David Kirn 2026-06-22Form 42026-06-230001834021-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Scott Bizily 2026-06-23Form 42026-06-250001920738-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Scott Bizily 2026-06-23Form 42026-06-250001920738-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Scott Bizily 2026-06-23Form 42026-06-250001920738-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Scott Bizily 2026-06-30Form 42026-07-020001920738-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Scott Bizily 2026-06-30Form 42026-07-020001920738-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Scott Bizily 2026-06-30Form 42026-07-020001920738-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Scott Bizily 2026-06-30Form 42026-07-020001920738-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Scott Bizily 2026-06-30Form 42026-07-020001920738-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, David Kirn 2026-07-09Form 42026-07-140001834021-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, David Kirn 2026-07-09Form 42026-07-140001834021-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, David Kirn 2026-07-09Form 42026-07-140001834021-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
36Section 06, 2026 voteForm 8-K2026-06-220001193125-26-277563Item 5.07 · say-on-pay result. As reported: 97.46% (votes for as printed: 36,065,437). Filing ↗
37Section 06, 2025 voteForm 8-K2025-06-200000950170-25-088482Item 5.07 · say-on-pay result. As reported: 98.78% (votes for as printed: 31,841,967). Filing ↗
38Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
39Section 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
40Section 09b board cost (computed)ComputedcomputedCash 460,000 + equity 0 + all other 0 = 460,000, summed across the director compensation table rows.machine: formula: Σ = 460,000
414D Molecular Therapeutics (subject), Section 10b CEO totalDEF 14A2026-04-280001140361-26-017427CEO total compensation as printed in 4D Molecular Therapeutics's own proxy. As printed: 2,051,343. Filing ↗machine: r2 · c21 · span 356185–356194