Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-12

Harvard Bioscience Inc (HBIO)

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.

$905,208
John Duke total, FY2025
33rd
CEO pay percentile vs peers
CEO-to-median pay ratio
96.87%
Say-on-pay support, latest vote
Companies that benchmark against HBIO
4 companies name HBIO as a compensation peer

Each company listed discloses HBIO 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 HBIO 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
John Duke$203,077$100,000$598,900$0$0$0$3,231$905,208
President and Chief Executive Officer
James Green336,9230000018,900355,823
Former Chairman, President & Chief Executive Officer
Mark Frost201,846100,00035,2100006,462343,518
Chief Financial Officer and Treasurer
Jennifer Cote118,846000004,160123,006
Former Chief Financial Officer and Treasurer

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
John Duke$905,208
James Green355,8232,336,5762,392,240−1,980,753
Mark Frost343,518
Jennifer Cote123,006602,601571,272−479,595

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
Seth BensonDirector2026-06-09A16,556$0$0CommonForm 4 ↗
Katherine A. EadeDirector2026-06-09A16,55600CommonForm 4 ↗
Stephen DeNelskyDirector2026-06-09A16,55600CommonForm 4 ↗
Robert GagnonDirector2026-06-09A16,55600CommonForm 4 ↗
William SniderDirector2026-06-09A16,55600CommonForm 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.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
James GreenPSU10,143$67,959
05

Incentive-plan design — the Compensation Discussion & Analysis

As a general guideline, the Compensation Committee seeks to establish the target compensation of our executive officers at approximately the median of similarly situated executives, assuming that our Company meets the performance targets established for incentive-based programs.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantFrederic W. Cook & Co., Inc.
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-021,768,69557,1113,18596.87%Passed
20252025-06-0223,840,8922,542,426368,87890.36%Passed
20242024-05-1427,472,149903,6082,208,31496.82%Passed
20232023-05-1526,568,836531,70834,94398.04%Passed
20212021-05-1829,916,663261,38230,99599.13%Passed
20202020-06-1126,819,6122,588,41540,52791.2%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
20262026-06-0296.87%a
20252025-06-0290.36%b
20242024-05-1496.82%c

a. Voting standard not stated in the filing.

b. Approved under the standard stated in the filing — “Abstentions and broker non-votes are not included in the number of votes cast for and against a matter and therefore have no effect on the vote on such matter.”.

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
Katherine A. EadeIndependent · Lead Independent Director · Audit · Nominating and Governance (Chair)$112,250$44,600$0$0$156,850
Robert GagnonIndependent · Audit (Chair) · Compensation · Partial-year service60,00044,60000104,600
Seth BensonIndependent · Audit · Partial-year service51,75044,6000096,350
William SniderIndependent · Compensation · Partial-year service86,6000086,600
Stephen DeNelskyIndependent · Compensation (Chair) · Nominating and Governance · Partial-year service32,00052,6000084,600
Alan EdrickIndependent · Audit (Chair) · Compensation · Departed during FY20,3750020,375
Thomas LoewaldIndependent · Compensation (Chair) · Nominating and Governance · Departed during FY15,7500015,750
Bertrand LoyIndependent · Audit · Nominating and Governance · Departed during FY14,3750014,375
John DukeEmployee director · Partial-year service00000
James W. GreenEmployee director · Departed during FY00000
09

Board fee structure and ownership guideline

Annual cash retainer$35,000
Annual equity retainer$100,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)20,000 / 9,000 / 6,500
Stock ownership guideline3x annual cash retainer
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$306,500
Equity awards (grant-date value)$273,000
All other compensation$0
Total cost of the board$579,500

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
1Harvard Bioscience Inc2025John Duke$203,077$598,900$0$0$905,208

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, John DukeDEF 14A2026-04-210001171843-26-002617Section “2025 SUMMARY COMPENSATION TABLE” · page 20. As printed: 905,208. Filing ↗machine: r2 · c25 · span 341394–341401
2Section 01, James GreenDEF 14A2026-04-210001171843-26-002617Section “2025 SUMMARY COMPENSATION TABLE” · page 20. As printed: 355,823. Filing ↗machine: span 362943–362950
3Section 01, Mark FrostDEF 14A2026-04-210001171843-26-002617Section “2025 SUMMARY COMPENSATION TABLE” · page 20. As printed: 343,518. Filing ↗machine: r4 · c25 · span 349017–349024
4Section 01, Jennifer CoteDEF 14A2026-04-210001171843-26-002617Section “2025 SUMMARY COMPENSATION TABLE” · page 20. As printed: 123,006. Filing ↗machine: r10 · c25 · span 370599–370606
5Section 07, pay ratio10-K2026-03-130001171843-26-001548Section “CEO Pay Ratio”. As printed: —. Filing ↗
6Section 08, Katherine A. EadeDEF 14A2026-04-210001171843-26-002617Section “Director Compensation”. As printed: 156,850. Filing ↗machine: t53 · r3 · c15 · span 219997–220004
7Section 08, Robert GagnonDEF 14A2026-04-210001171843-26-002617Section “Director Compensation”. As printed: 104,600. Filing ↗machine: t53 · r4 · c15 · span 222404–222411
8Section 08, Seth BensonDEF 14A2026-04-210001171843-26-002617Section “Director Compensation”. As printed: 96,350. Filing ↗machine: t53 · r5 · c15 · span 224809–224815
9Section 08, William SniderDEF 14A2026-04-210001171843-26-002617Section “Director Compensation”. As printed: 86,600. Filing ↗machine: t53 · r7 · c7 · span 228627–228633
10Section 08, Stephen DeNelskyDEF 14A2026-04-210001171843-26-002617Section “Director Compensation”. As printed: 84,600. Filing ↗machine: t53 · r6 · c15 · span 227218–227224
11Section 08, Alan EdrickDEF 14A2026-04-210001171843-26-002617Section “Director Compensation”. As printed: 20,375. Filing ↗machine: t53 · r8 · c3 · span 230532–230538
12Section 08, Thomas LoewaldDEF 14A2026-04-210001171843-26-002617Section “Director Compensation”. As printed: 15,750. Filing ↗machine: t53 · r10 · c3 · span 235334–235340
13Section 08, Bertrand LoyDEF 14A2026-04-210001171843-26-002617Section “Director Compensation”. As printed: 14,375. Filing ↗machine: t53 · r9 · c3 · span 232932–232938
14Section 08, John DukeDEF 14A2026-04-210001171843-26-002617Section “Director Compensation”. As printed: 0. Filing ↗
15Section 08, James W. GreenDEF 14A2026-04-210001171843-26-002617Section “Director Compensation”. As printed: 0. Filing ↗
16Section 02, Seth Benson 2026-06-09Form 42026-06-110001171843-26-004056Insider equity transaction reported since the proxy statement. Filing ↗
17Section 02, Katherine A. Eade 2026-06-09Form 42026-06-120001171843-26-004082Insider equity transaction reported since the proxy statement. Filing ↗
18Section 02, Stephen DeNelsky 2026-06-09Form 42026-06-110001171843-26-004058Insider equity transaction reported since the proxy statement. Filing ↗
19Section 02, Robert Gagnon 2026-06-09Form 42026-06-110001171843-26-004057Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, William Snider 2026-06-09Form 42026-06-110001171843-26-004060Insider equity transaction reported since the proxy statement. Filing ↗
21Section 06, 2026 voteForm 8-K2026-06-020001171843-26-003877Item 5.07 · say-on-pay result. As reported: 96.87% (votes for as printed: 1,768,695). Filing ↗
22Section 06, 2025 voteForm 8-K2025-06-020001171843-25-003574Item 5.07 · say-on-pay result. As reported: 90.36% (votes for as printed: 23,840,892). Filing ↗
23Section 06, 2024 voteForm 8-K2024-05-140001171843-24-002878Item 5.07 · say-on-pay result. As reported: 96.82% (votes for as printed: 27,472,149). Filing ↗
24Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
25Section 09b board cost (computed)ComputedcomputedCash 306,500 + equity 273,000 + all other 0 = 579,500, summed across the director compensation table rows.machine: formula: Σ = 579,500
26Harvard Bioscience Inc (subject), Section 10b CEO totalDEF 14A2026-04-210001171843-26-002617CEO total compensation as printed in Harvard Bioscience Inc's own proxy. As printed: 905,208. Filing ↗machine: r2 · c25 · span 341394–341401