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Companies Harrow, Inc

Harrow (HROW): executive pay, fiscal 2025

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CEO total pay$23,606,274CEO Mark Baum · source
Say-on-pay support88.29%Latest vote · source
CEO vs. named peers99th pct.Of 12 peer CEOs
CEO pay ratio263:1To the median employee · source

CEO pay, last three years

  • $15,256,463FY2023
  • $1,358,490FY2024
  • $23,606,274FY2025

CEO total pay was $23,606,274 in fiscal 2025, up from $1,358,490 in fiscal 2024.

FY2025: salary $754,910 · bonus $0 · stock awards $22,294,873 · option awards $0

Executives and directors

Frequently asked questions

Who was the highest-paid executive at Harrow, Inc in fiscal 2025?
As disclosed, Mark Baum (Chief Executive Officer and Chairman of the Board of Directors) was the highest-paid executive at Harrow, Inc in fiscal 2025, with total compensation of $23,606,274.
How does Harrow, Inc's chief executive pay compare to its disclosed peer group?
As disclosed, Mark Baum's total compensation ranked at the 99th percentile of Harrow, Inc's disclosed peer group.
What is Harrow, Inc's CEO-to-median employee pay ratio?
As disclosed, Harrow, Inc's CEO-to-median employee pay ratio was 263:1.
How did shareholders vote on Harrow, Inc's executive compensation?
As disclosed, 88.29% of shareholders supported Harrow, Inc's executive compensation in the latest say-on-pay vote.
How much does Harrow, Inc spend in total on board compensation for fiscal 2025?
As disclosed, Harrow, Inc reported total board compensation of $943,792 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.

Full detail

Every table from the filing. Open any section.

Summary compensation table
Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Mark Baum$754,910$0$22,294,873$0$542,491$0$14,000$23,606,274
Chief Executive Officer and Chairman of the Board of Directors
Andrew Boll505,259010,169,9240258,258014,00010,947,441
President, Chief Financial Officer and Corporate Secretary
Amir Shojaei441,34600670,569225,00005,7121,342,627
Chief Scientific Officer
Francis Mullery129,808001,054,62453,260001,237,692
President and Chief Executive Officer, ImprimisRx Division
John Saharek475,614000237,807014,000727,421
Former President and Chief Executive Officer, ImprimisRx Division

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
Mark Baum$23,606,274$1,358,490$15,256,463↑ +22,247,784
Andrew Boll10,947,441849,2017,130,409↑ +10,098,240
Amir Shojaei1,342,627———
Francis Mullery1,237,692———
John Saharek727,421743,4675,815,154↓ −16,046

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

Incentive-plan design — the Compensation Discussion & Analysis

The Compensation Committee believes that executive compensation should be directly linked both to continuous improvements in corporate performance (pay for performance) and the achievement of objectives that are expected to increase stockholder value.

CEO STI target (% of salary)70%
CEO LTI target (% of salary)—
Independent consultantMercer, Inc.
Clawback policyTrue
Anti-hedgingFalse
Anti-pledgingTrue
Equity grants and outstanding awards

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Andrew BollPSU2025-07-01———405,750$10,169,924
Mark BaumPSU2025-07-01———889,50022,294,873
Amir ShojaeiOPTION2025-01-06——30,000—670,569
Francis MulleryOPTION2025-09-30——33,000—1,054,624

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Andrew Boll$0$10,169,924$0100.0%
Mark Baum022,294,8730100.0%
Amir Shojaei00670,5690.0%
Francis Mullery001,054,6240.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Amir ShojaeiOption30,00035.96—
Francis MulleryOption33,00048.18—
Andrew BollPSU405,750—19,881,750
Mark BaumPSU889,500—43,585,500
Director compensation
DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Perry J. SternbergIndependent · Lead Independent Director · Audit · Compensation · Nominating/Governance$102,500$225,014$0$0$0$327,514
Adrienne L. GravesIndependent · Audit · Compensation (Chair) · Nominating/Governance (Chair)83,750225,014000308,764
Lauren P. SilvernailIndependent · Audit (Chair) · Compensation · Nominating/Governance82,500225,014000307,514
Martin A. MakaryIndependent · Audit · Compensation · Nominating and Corporate Governance · Not standing for re-election · Departed during FY000000
Mark L. BaumEmployee director · Board Chair000—00

Board fee structure and ownership guideline

Annual cash retainer$50,000
Annual equity retainer$225,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)20,000 / 15,000 / 10,000
Stock ownership guideline—

Total cost of the board

ComponentFY2025
Cash retainers and fees$268,750
Equity awards (grant-date value)$675,042
All other compensation$0
Total cost of the board$943,792

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

Peer group, and who names Harrow as a peer

Companies that benchmark against HROW

5 companies name HROW as a compensation peer

Each company listed discloses HROW 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 HROW in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

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.

Peer reciprocity

The companies Harrow, Inc names as compensation peers that name it back in their own disclosed peer groups.

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
1Harrow, Inc2025Mark Baum$754,910$22,294,873$0$542,491$23,606,274
2Mirum Pharmaceuticals2025Christopher Peetz755,0003,683,9044,931,3201,057,00010,441,224
3ANI Pharmaceuticals2025Nikhil Lalwani837,4097,848,71101,572,50010,278,620
4Arrowhead Pharmaceuticals2025Christopher Anzalone981,0466,810,29201,236,0009,029,861
5Dynavax Technologies2024Ryan Spencer835,0014,902,1501,824,299641,9078,210,775
6Ardelyx2025Michael Raab797,0002,953,7243,413,948627,6387,796,171
7Staar Surgical2025Stephen Farrell580,0006,836,000007,522,385
8Tarsus Pharmaceuticals2025Bobak Azamian726,3332,648,2842,651,487555,7006,617,979
9Eyepoint Pharmaceuticals2025Jay Duker696,2511,610,7002,604,113632,7005,568,352
10Agios Pharmaceuticals2025Brian Goff846,8641,291,6802,627,252592,8045,370,389
11RxSight2025Ron Kurtz630,62503,816,530202,9354,650,661
12Heron Therapeutics2025Craig Collard689,431946,2541,352,917517,1893,516,291
13Ironwood Pharmaceuticals2025Thomas McCourt867,568411,6960650,6761,948,390

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.

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Harrow, Inc100%not disclosedNoMercer, Inc.
Agios Pharmaceuticals100%Option 40 · PSU 40 · RSU 20NoAon
ANI Pharmaceuticals185%RSU 75 · PSU 25Yes — relative TSR against the constituents of the S&P 600 Pharmaceuticals, Biotechnology and Life Sciences IndexPearl Meyer & Partners, LLC
Ardelyx105%Options 50 · RSU 50not disclosedPearl Meyer
Arrowhead Pharmaceuticals125%PRSU 70 · RSU 30not disclosedCompensia
Dynavax Technologies102.5%Options 34 · RSU 33 · PSU 33Yes — Relative Total Stockholder Return (rTSR) ranking vs. Nasdaq Biotechnology IndexAlpine
Eyepoint Pharmaceuticalsnot disclosednot disclosednot disclosedAon
Heron Therapeuticsnot disclosedOption 66.67 · RSU 33.33not disclosedCompensia, Inc.
Ironwood Pharmaceuticals100%RSU 50 · PSU 50not disclosedAlpine Rewards LLC
Mirum Pharmaceuticals200%Option 47.2 · PSU 17.6 · RSU 17.6NoAlpine Rewards
RxSight32.18%Option 100not disclosedAon
Staar Surgical135%RSU 50 · PSU 50NoSemler Brossy
Tarsus Pharmaceuticals108%Options 50 · RSU 50NoPay Governance

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.

Say-on-pay history and pay ratio
Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-1818,065,8562,395,240502,67988.29%Passed
20252025-06-1822,496,427971,206448,77795.86%Passed
20242024-06-1414,877,1981,709,038133,73689.7%Passed
20232023-06-2119,733,427849,799288,21395.87%Passed
20222022-06-0913,569,789284,58040,15797.95%Passed
20212021-06-0314,781,072600,632583,32796.1%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
20262026-06-1888.29%a
20252025-06-1895.86%b
20242024-06-1489.7%c

a. Approved under the standard stated in the filing — “Because directors are elected by a plurality of the votes cast, abstentions and broker non-votes will not be counted in determining which nominees receive the largest number of votes cast and, therefore, will have no effect on the outcome of the vote on this proposal.”.

b. Approved under the standard stated in the filing — “Because directors are elected by a plurality of the votes cast, abstentions and broker non-votes will not be counted in determining which nominees receive the largest number of votes cast and, therefore, will have no effect on the outcome of the vote on this proposal.”.

c. Approved under the standard stated in the filing — “Because directors are elected by a plurality of the votes cast, abstentions and broker non-votes will not be counted in determining which nominees receive the largest number of votes cast and, therefore, will have no effect on the outcome of the vote on this proposal.”.

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.

CEO pay ratio

Ratio (CEO : median employee)263 : 1
CEO total compensation$23,606,274
Median employee compensation$89,719
Insider trades since the proxy

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
Mark L. BaumDirector2026-05-14A10,000$30$302,000CommonForm 4 ↗
Andrew BollPresident and CFO2026-05-14A3,50030104,650CommonForm 4 ↗
Amir ShojaeiChief Scientific Officer2026-05-15A10,00000Derivative, Class A CommonForm 4 ↗
Adrienne L. GravesDirector2026-05-18A1,0003131,070CommonForm 4 ↗
Lauren P. SilvernailDirector2026-05-18A1,0003131,000CommonForm 4 ↗
Adrienne L. GravesDirector2026-06-18A5,24800Derivative, Class A CommonForm 4 ↗
Lauren P. SilvernailDirector2026-06-18A5,24800Derivative, Class A CommonForm 4 ↗
Perry J. SternbergDirector2026-06-18A5,24800Derivative, Class A CommonForm 4 ↗
Amir ShojaeiChief Scientific Officer2026-08-14D11,25036404,550Derivative, Class A CommonForm 4 ↗
Amir ShojaeiChief Scientific Officer2026-08-14D11,25040450,000CommonForm 4 ↗
Amir ShojaeiChief Scientific Officer2026-08-14A11,25036404,550CommonForm 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.

Sources (47 citations)

Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.

  • Section 01, Mark Baum. DEF 14A, filed 2026-04-24. Section “Summary Compensation Table” · page 22. As printed: 23,606,274. View filing ↗
  • Section 01, Andrew Boll. DEF 14A, filed 2026-04-24. Section “Summary Compensation Table”. As printed: 10,947,441. View filing ↗
  • Section 01, Amir Shojaei. DEF 14A, filed 2026-04-24. Section “Summary Compensation Table”. As printed: 1,342,627. View filing ↗
  • Section 01, Francis Mullery. DEF 14A, filed 2026-04-24. Section “Summary Compensation Table”. As printed: 1,237,692. View filing ↗
  • Section 01, John Saharek. DEF 14A, filed 2026-04-24. Section “Summary Compensation Table”. As printed: 727,421. View filing ↗
  • Section 03, Andrew Boll PSU. DEF 14A, filed 2026-04-24. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Mark Baum PSU. DEF 14A, filed 2026-04-24. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Amir Shojaei OPTION. DEF 14A, filed 2026-04-24. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Francis Mullery OPTION. DEF 14A, filed 2026-04-24. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 07, pay ratio. DEF 14A, filed 2026-04-24. Section “CEO Pay Ratio”. As printed: 263 : 1. View filing ↗
  • Section 08, Perry J. Sternberg. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 327,514. View filing ↗
  • Section 08, Adrienne L. Graves. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 308,764. View filing ↗
  • Section 08, Lauren P. Silvernail. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 307,514. View filing ↗
  • Section 08, Martin A. Makary. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 08, Mark L. Baum. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 02, Mark L. Baum 2026-05-14. Form 4, filed 2026-05-15. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Andrew Boll 2026-05-14. Form 4, filed 2026-05-15. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Amir Shojaei 2026-05-15. Form 4, filed 2026-05-18. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Adrienne L. Graves 2026-05-18. Form 4, filed 2026-05-19. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Lauren P. Silvernail 2026-05-18. Form 4, filed 2026-05-19. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Adrienne L. Graves 2026-06-18. Form 4, filed 2026-06-22. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Lauren P. Silvernail 2026-06-18. Form 4, filed 2026-06-22. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Perry J. Sternberg 2026-06-18. Form 4, filed 2026-06-22. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Amir Shojaei 2026-08-14. Form 4, filed 2026-08-17. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Amir Shojaei 2026-08-14. Form 4, filed 2026-08-17. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Amir Shojaei 2026-08-14. Form 4, filed 2026-08-17. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 06, 2026 vote. Form 8-K, filed 2026-06-22. Item 5.07 · say-on-pay result. As reported: 88.29% (votes for as printed: 18,065,856). View filing ↗
  • Section 06, 2025 vote. Form 8-K, filed 2025-06-20. Item 5.07 · say-on-pay result. As reported: 95.86% (votes for as printed: 22,496,427). View filing ↗
  • Section 06, 2024 vote. Form 8-K, filed 2024-06-17. Item 5.07 · say-on-pay result. As reported: 89.7% (votes for as printed: 14,877,198). View filing ↗
  • Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
  • Section 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).
  • Section 09b board cost (computed). Computed. Cash 268,750 + equity 675,042 + all other 0 = 943,792, summed across the director compensation table rows.
  • Harrow, Inc (subject), Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in Harrow, Inc's own proxy. As printed: 23,606,274. View filing ↗
  • Mirum Pharmaceuticals, Section 10b CEO total. DEF 14A, filed 2026-04-23. CEO total compensation as printed in Mirum Pharmaceuticals's own proxy. As printed: 10,441,224. View filing ↗
  • ANI Pharmaceuticals, Section 10b CEO total. DEF 14A, filed 2026-04-09. CEO total compensation as printed in ANI Pharmaceuticals's own proxy. As printed: 10,278,620. View filing ↗
  • Arrowhead Pharmaceuticals, Section 10b CEO total. DEF 14A, filed 2026-01-27. CEO total compensation as printed in Arrowhead Pharmaceuticals's own proxy. As printed: 9,029,861. View filing ↗
  • Dynavax Technologies, Section 10b CEO total. DEF 14A, filed 2025-04-17. CEO total compensation as printed in Dynavax Technologies's own proxy. As printed: 8,210,775. View filing ↗
  • Ardelyx, Section 10b CEO total. DEF 14A, filed 2026-04-29. CEO total compensation as printed in Ardelyx's own proxy. As printed: 7,796,171. View filing ↗
  • Staar Surgical, Section 10b CEO total. DEF 14A, filed 2026-05-04. CEO total compensation as printed in Staar Surgical's own proxy. As printed: 7,522,385. View filing ↗
  • Tarsus Pharmaceuticals, Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in Tarsus Pharmaceuticals's own proxy. As printed: 6,617,979. View filing ↗
  • Eyepoint Pharmaceuticals, Section 10b CEO total. DEF 14A, filed 2026-04-27. CEO total compensation as printed in Eyepoint Pharmaceuticals's own proxy. As printed: 5,568,352. View filing ↗
  • Agios Pharmaceuticals, Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in Agios Pharmaceuticals's own proxy. As printed: 5,370,389. View filing ↗
  • RxSight, Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in RxSight's own proxy. As printed: 4,650,661. View filing ↗
  • Heron Therapeutics, Section 10b CEO total. DEF 14A, filed 2026-04-30. CEO total compensation as printed in Heron Therapeutics's own proxy. As printed: 3,516,291. View filing ↗
  • Ironwood Pharmaceuticals, Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in Ironwood Pharmaceuticals's own proxy. As printed: 1,948,390. View filing ↗
  • Section 10a, Heron Therapeutics reciprocity. DEF 14A. Heron Therapeutics names Harrow, Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Tarsus Pharmaceuticals reciprocity. DEF 14A. Tarsus Pharmaceuticals names Harrow, Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
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