Velarion · Company Intelligence
Compensation Brief
Fiscal year 2022 · Filings through 2026-06-08

Horizon Therapeutics Public Ltd (HZNP)

Fiscal year 2022 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.

$20,103,869
Timothy Walbert total, FY2022
CEO pay percentile vs peers
76:1
CEO-to-median pay ratio
Say-on-pay support, latest vote
Companies that benchmark against HZNP
1 company names HZNP as a compensation peer

Each company listed discloses HZNP 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 HZNP 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 2022

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Timothy Walbert$1,292,727$1,681,324$16,601,305$0$0$0$528,513$20,103,869
Chairman, President and Chief Executive Officer
Sean Clayton547,6856,382,6993,839,414000102,40910,872,207
Executive Vice President, General Counsel
Elizabeth Thompson594,1672,915,9984,819,700000151,1558,481,020
Executive Vice President, Research and Development
Aaron Cox640,667448,5545,817,498000267,8247,174,543
Executive Vice President, Chief Financial Officer
Andy Pasternak719,506503,7525,355,203000174,3336,752,794
Executive Vice President, Chief Strategy Officer
Paul Hoelscher249,792172,142928,871000471,7761,822,581
Former Executive Vice President, 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 officerFY2022 totalFY2021 totalFY2020 totalΔ FY20212022
Timothy Walbert$20,103,869$21,353,458−1,249,589
Sean Clayton10,872,207
Elizabeth Thompson8,481,020
Aaron Cox7,174,543
Andy Pasternak6,752,794
Paul Hoelscher1,822,5817,343,6565,915,146−5,521,075

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.

03

Grants of plan-based awards — fiscal year 2022

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Elizabeth ThompsonPSU$4,819,700
Andy PasternakPSU5,355,203
Aaron CoxPSU5,817,498
Timothy WalbertPSU16,601,305
Paul HoelscherPSU928,871
Sean ClaytonPSU3,839,414
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Elizabeth Thompson$0$4,819,700$0100.0%
Andy Pasternak05,355,2030100.0%
Aaron Cox05,817,4980100.0%
Timothy Walbert016,601,3050100.0%
Paul Hoelscher0928,8710100.0%
Sean Clayton03,839,4140100.0%

% 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 2022

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Timothy WalbertPSU48,486,539$5,517,768,138
Paul HoelscherRSU102,78711,697,161
Timothy WalbertRSU73,7968,397,985
Timothy WalbertRSU69,8577,949,727
Timothy WalbertRSU58,0556,606,659
Andy PasternakPSU50,0015,690,114
Paul HoelscherRSU42,9934,892,603
Sean ClaytonRSU42,3874,823,641
Aaron CoxRSU29,8382,865,939
Paul HoelscherRSU23,2862,649,947
Paul HoelscherRSU9,5221,083,604
Elizabeth ThompsonRSU4,657529,967
Andy PasternakPSU26,1962,981,105
Andy PasternakPSU23,8052,709,009
Andy PasternakRSU15,8701,806,006
Aaron CoxPSU23,8052,709,009
Paul HoelscherPSU26,1962,981,105
Elizabeth ThompsonPSU21,4252,438,165
Andy PasternakRSU11,6431,324,973
Aaron CoxRSU15,8701,806,006
Aaron CoxRSU4,654529,625
Aaron CoxPSU44,7625,093,916
Aaron CoxRSU9,3141,059,933
Andy PasternakRSU33,3293,792,840
Timothy WalbertPSU73,7978,398,099
Timothy WalbertRSU52,3925,962,210
Timothy WalbertRSU2,392,565272,273,897
Timothy WalbertRSU171,96819,569,958
Timothy WalbertPSU78,5898,943,428
Elizabeth ThompsonRSU18,9402,155,372
Paul HoelscherRSU17,4641,987,403
Elizabeth ThompsonRSU14,2831,625,405
Andy PasternakRSU5,816661,861
05

Incentive-plan design — the Compensation Discussion & Analysis

We believe in providing a competitive total compensation package to our executive management team through a combination of base salary, short-term performance-based cash incentives, long-term performance-based equity incentives, and severance and change-in-control benefits.

CEO STI target (% of salary)130%
CEO LTI target (% of salary)
Independent consultantAon plc (Human Capital Solutions practice)
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
07

CEO pay ratio

Ratio (CEO : median employee)76 : 1
CEO total compensation$20,103,869
Median employee compensation$264,751
08

Director compensation — fiscal year 2022

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Michael GreyIndependent · Lead Independent Director · Audit$151,250$399,987$0$551,237
William F. DanielIndependent · Audit · Compensation112,500399,987010,000522,487
Susan Mahony, Ph.DIndependent · Compensation (Chair) · Scientific114,375399,9870514,362
James Shannon, M.DIndependent · Scientific (Chair) · Transaction110,625399,9870510,612
H. Thomas WatkinsIndependent · Audit (Chair) · Nominating and Corporate Governance106,250399,9870506,237
Jeff Himawan, Ph.DIndependent · Compensation · Transaction104,375399,9870504,362
Pascale WitzIndependent · Audit · Nominating and Corporate Governance (Chair) · Transaction (Chair)96,250399,9870496,237
Gino SantiniIndependent · Compensation · Nominating and Corporate Governance95,000399,9870494,987
Timothy P. WalbertEmployee director · Board Chair00000
09

Board fee structure and ownership guideline

Annual cash retainer$75,000
Annual equity retainer$400,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)115,000 / 15,000 / 115,000
Stock ownership guideline5x annual cash retainer ($375,000)
09b

Total cost of the board

ComponentFY2022
Cash retainers and fees$890,625
Equity awards (grant-date value)$3,199,896
All other compensation$10,000
Total cost of the board$4,100,521

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

10

Disclosed peer group — fiscal year 2022

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 Horizon Therapeutics Public Ltd 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 Horizon Therapeutics Public Ltd.

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
1Seagen, Inc.2022David Epstein$190,385$14,815,386$42,381,246$0$57,460,546
2Exelixis, Inc.2025Michael Morrissey1,306,04030,539,55201,382,59133,239,183
3Incyte Corporation2025William Meury647,26027,509,6572,573,9981,300,00032,085,952
4Biogen, Inc.2025Christopher Viehbacher1,727,88518,368,87503,190,87523,646,004
5BioMarin Pharmaceutical Inc.2025Alexander Hardy1,130,76916,833,6291,909,3101,644,50021,927,563
6Vertex Pharmaceuticals Inc.2025Reshma Kewalramani1,600,00015,002,27004,118,64021,144,261
7Horizon Therapeutics Public Ltd2022Timothy Walbert1,292,72716,601,3050020,103,869
8Jazz Pharmaceuticals plc2025Renee Gala1,003,26916,138,43301,980,00019,151,558
9United Therapeutics Corporation2025Martine Rothblatt1,545,0056,067,9906,075,8044,281,87518,038,972
10Alnylam Pharmaceuticals, Inc.2025Yvonne Greenstreet1,404,2005,512,5004,363,3803,562,50014,867,600
11Neurocrine Biosciences, Inc.2025Kyle Gano920,0005,750,0235,750,006013,448,935
12Ionis Pharmaceuticals, Inc.2025Brett Monia1,051,7768,444,8381,438,105013,350,777
13Regeneron Pharmaceuticals, Inc.2025Leonard Schleifer1,979,922003,682,6557,280,549

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
Horizon Therapeutics Public Ltd100%RSU 50 · PSU 50Yes — Relative TSRAon plc (Human Capital Solutions practice)
Alnylam Pharmaceuticals, Inc.200%PSU 50 · RSU 25 · Options 25NoPay Governance
Biogen, Inc.127%PSU 60 · RSU 40YesPay Governance
BioMarin Pharmaceutical Inc.130%PSU 66 · RSU 21 · Options 13Yes — Relative TSRAon Human Capital Solutions
Exelixis, Inc.105%PSU 50 · RSU 50Yes — 2025 Relative TSR GoalAon
Incyte Corporation138.6%PSU 60 · Options 20 · RSU 20Yes — relative total shareholder return (TSR)Aon
Ionis Pharmaceuticals, Inc.228%RSU 67 · PSU 33Yes — Relative TSRAon Human Capital Solutions
Jazz Pharmaceuticals plc150%PSU 50 · RSU 50Yes — Relative TSRAon
Neurocrine Biosciences, Inc.105%Options 50 · PSU 30 · RSU 20NoFrederic W. Cook & Co., Inc.
Regeneron Pharmaceuticals, Inc.155%Options 60 · RSA 40not disclosedPay Governance LLC
Seagen, Inc.130%RSU 60 · PSU 40Yes — Relative TSRAon
United Therapeutics Corporation221%Options 50 · PSU 50NoAon Human Capital Solutions
Vertex Pharmaceuticals Inc.not disclosedPSU 55 · RSU 45Nonot disclosed

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, Timothy WalbertDEF 14A2023-06-300001193125-23-180318Section “Summary Compensation Table” · page 44. As printed: 20,103,869. Filing ↗machine: t304 · r4 · c27 · span 746414–746424
2Section 01, Sean ClaytonDEF 14A2023-06-300001193125-23-180318Section “Summary Compensation Table” · page 44. As printed: 10,872,207. Filing ↗machine: r16 · c26 · span 764829–764839
3Section 01, Elizabeth ThompsonDEF 14A2023-06-300001193125-23-180318Section “Summary Compensation Table” · page 44. As printed: 8,481,020. Filing ↗machine: r20 · c26 · span 770531–770540
4Section 01, Aaron CoxDEF 14A2023-06-300001193125-23-180318Section “Summary Compensation Table” · page 44. As printed: 7,174,543. Filing ↗machine: span 752715–752724
5Section 01, Andy PasternakDEF 14A2023-06-300001193125-23-180318Section “Summary Compensation Table” · page 44. As printed: 6,752,794. Filing ↗machine: span 776187–776196
6Section 01, Paul HoelscherDEF 14A2023-06-300001193125-23-180318Section “Summary Compensation Table” · page 44. As printed: 1,822,581. Filing ↗machine: span 758407–758416
7Section 03, Elizabeth Thompson PSUDEF 14A2023-06-300001193125-23-180318Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t304 · r20 · c15 · span 769834–769843
8Section 03, Andy Pasternak PSUDEF 14A2023-06-300001193125-23-180318Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t304 · r24 · c15 · span 775490–775499
9Section 03, Aaron Cox PSUDEF 14A2023-06-300001193125-23-180318Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t304 · r8 · c15 · span 752018–752027
10Section 03, Timothy Walbert PSUDEF 14A2023-06-300001193125-23-180318Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t304 · r4 · c15 · span 745716–745726
11Section 03, Paul Hoelscher PSUDEF 14A2023-06-300001193125-23-180318Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t304 · r12 · c15 · span 757712–757719
12Section 03, Sean Clayton PSUDEF 14A2023-06-300001193125-23-180318Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t304 · r16 · c15 · span 764132–764141
13Section 07, pay ratioDEF 14A2023-06-300001193125-23-180318Section “CEO Pay Ratio”. As printed: 76 : 1. Filing ↗machine: t342 · r0 · c3 · span 930385–930387
14Section 08, Michael GreyDEF 14A2023-06-300001193125-23-180318Section “Director Compensation”. As printed: 551,237. Filing ↗machine: t162 · r4 · c15 · span 417697–417704
15Section 08, William F. DanielDEF 14A2023-06-300001193125-23-180318Section “Director Compensation”. As printed: 522,487. Filing ↗machine: t162 · r3 · c15 · span 416180–416187
16Section 08, Susan Mahony, Ph.DDEF 14A2023-06-300001193125-23-180318Section “Director Compensation”. As printed: 514,362. Filing ↗machine: t162 · r6 · c15 · span 420770–420777
17Section 08, James Shannon, M.DDEF 14A2023-06-300001193125-23-180318Section “Director Compensation”. As printed: 510,612. Filing ↗machine: t162 · r8 · c15 · span 423835–423842
18Section 08, H. Thomas WatkinsDEF 14A2023-06-300001193125-23-180318Section “Director Compensation”. As printed: 506,237. Filing ↗machine: t162 · r9 · c15 · span 425382–425389
19Section 08, Jeff Himawan, Ph.DDEF 14A2023-06-300001193125-23-180318Section “Director Compensation”. As printed: 504,362. Filing ↗machine: t162 · r5 · c15 · span 419246–419253
20Section 08, Pascale WitzDEF 14A2023-06-300001193125-23-180318Section “Director Compensation”. As printed: 496,237. Filing ↗machine: t162 · r10 · c15 · span 427463–427470
21Section 08, Gino SantiniDEF 14A2023-06-300001193125-23-180318Section “Director Compensation”. As printed: 494,987. Filing ↗machine: t162 · r7 · c15 · span 422311–422318
22Section 08, Timothy P. WalbertDEF 14A2023-06-300001193125-23-180318Section “Director Compensation”. As printed: 0. Filing ↗
23Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
24Section 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
25Section 09b board cost (computed)ComputedcomputedCash 890,625 + equity 3,199,896 + all other 10,000 = 4,100,521, summed across the director compensation table rows.machine: formula: Σ = 4,100,521
26Seagen, Inc., Section 10b CEO totalDEF 14A2023-04-180001060736-23-000019CEO total compensation as printed in Seagen, Inc.'s own proxy. As printed: 57,460,546. Filing ↗machine: r2 · c36 · span 1339226–1339236
27Exelixis, Inc., Section 10b CEO totalDEF 14A2026-04-150000939767-26-000046CEO total compensation as printed in Exelixis, Inc.'s own proxy. As printed: 33,239,183. Filing ↗machine: r2 · c10 · span 2655516–2655526
28Incyte Corporation, Section 10b CEO totalDEF 14A2026-04-280000879169-26-000031CEO total compensation as printed in Incyte Corporation's own proxy. As printed: 32,085,952. Filing ↗machine: t91 · r2 · c16 · span 637817–637827
29Biogen, Inc., Section 10b CEO totalDEF 14A2026-04-280001193125-26-187303CEO total compensation as printed in Biogen, Inc.'s own proxy. As printed: 23,646,004. Filing ↗machine: r2 · c16 · span 1174380–1174391
30BioMarin Pharmaceutical Inc., Section 10b CEO totalDEF 14A2026-04-210001628280-26-026290CEO total compensation as printed in BioMarin Pharmaceutical Inc.'s own proxy. As printed: 21,927,563. Filing ↗machine: span 1384905–1384915
31Vertex Pharmaceuticals Inc., Section 10b CEO totalDEF 14A2026-04-020000875320-26-000153CEO total compensation as printed in Vertex Pharmaceuticals Inc.'s own proxy. As printed: 21,144,261. Filing ↗machine: r2 · c13 · span 2942799–2942809
32Horizon Therapeutics Public Ltd (subject), Section 10b CEO totalDEF 14A2023-06-300001193125-23-180318CEO total compensation as printed in Horizon Therapeutics Public Ltd's own proxy. As printed: 20,103,869. Filing ↗machine: t304 · r4 · c27 · span 746414–746424
33Jazz Pharmaceuticals plc, Section 10b CEO totalDEF 14A2026-06-080001232524-26-000029CEO total compensation as printed in Jazz Pharmaceuticals plc's own proxy. As printed: 19,151,558. Filing ↗machine: r3 · c27 · span 1437369–1437379
34United Therapeutics Corporation, Section 10b CEO totalDEF 14A2026-04-290001082554-26-000009CEO total compensation as printed in United Therapeutics Corporation's own proxy. As printed: 18,038,972. Filing ↗machine: span 1993726–1993736
35Alnylam Pharmaceuticals, Inc., Section 10b CEO totalDEF 14A2026-04-060001628280-26-023923CEO total compensation as printed in Alnylam Pharmaceuticals, Inc.'s own proxy. As printed: 14,867,600. Filing ↗machine: span 1294691–1294701
36Neurocrine Biosciences, Inc., Section 10b CEO totalDEF 14A2026-04-150000914475-26-000015CEO total compensation as printed in Neurocrine Biosciences, Inc.'s own proxy. As printed: 13,448,935. Filing ↗machine: t50 · r4 · c7 · span 847947–847957
37Ionis Pharmaceuticals, Inc., Section 10b CEO totalDEF 14A2026-04-230001140361-26-016388CEO total compensation as printed in Ionis Pharmaceuticals, Inc.'s own proxy. As printed: 13,350,777. Filing ↗machine: t325 · r3 · c25 · span 1543650–1543661
38Regeneron Pharmaceuticals, Inc., Section 10b CEO totalDEF 14A2026-04-240001308179-26-000340CEO total compensation as printed in Regeneron Pharmaceuticals, Inc.'s own proxy. As printed: 7,280,549. Filing ↗machine: r3 · c10 · span 3335980–3335989
39Section 10a, BioMarin Pharmaceutical Inc. reciprocityDEF 14A0001628280-26-026290BioMarin Pharmaceutical Inc.'s most recent proxy was read; its disclosed peer group does not include Horizon Therapeutics Public Ltd. Filing ↗
40Section 10a, Ionis Pharmaceuticals, Inc. reciprocityDEF 14A0001140361-26-016388Ionis Pharmaceuticals, Inc.'s most recent proxy was read; its disclosed peer group does not include Horizon Therapeutics Public Ltd. Filing ↗
41Section 10a, Neurocrine Biosciences, Inc. reciprocityDEF 14A0000914475-26-000015Neurocrine Biosciences, Inc.'s most recent proxy was read; its disclosed peer group does not include Horizon Therapeutics Public Ltd. Filing ↗
42Section 10a, Regeneron Pharmaceuticals, Inc. reciprocityDEF 14A0001308179-26-000340Regeneron Pharmaceuticals, Inc.'s most recent proxy was read; its disclosed peer group does not include Horizon Therapeutics Public Ltd. Filing ↗
43Section 10a, Vertex Pharmaceuticals Inc. reciprocityDEF 14A0000875320-26-000153Vertex Pharmaceuticals Inc.'s most recent proxy was read; its disclosed peer group does not include Horizon Therapeutics Public Ltd. Filing ↗
44Section 10a, Alnylam Pharmaceuticals, Inc. reciprocityDEF 14A0001628280-26-023923Alnylam Pharmaceuticals, Inc.'s most recent proxy was read; its disclosed peer group does not include Horizon Therapeutics Public Ltd. Filing ↗
45Section 10a, Seagen, Inc. reciprocityDEF 14A0001060736-23-000019Seagen, Inc. names Horizon Therapeutics Public Ltd in its own disclosed peer group (read from its most recent proxy). Filing ↗
46Section 10a, United Therapeutics Corporation reciprocityDEF 14A0001082554-26-000009United Therapeutics Corporation's most recent proxy was read; its disclosed peer group does not include Horizon Therapeutics Public Ltd. Filing ↗
47Section 10a, Exelixis, Inc. reciprocityDEF 14A0000939767-26-000046Exelixis, Inc.'s most recent proxy was read; its disclosed peer group does not include Horizon Therapeutics Public Ltd. Filing ↗
48Section 10a, Jazz Pharmaceuticals plc reciprocityDEF 14A0001232524-26-000029Jazz Pharmaceuticals plc's most recent proxy was read; its disclosed peer group does not include Horizon Therapeutics Public Ltd. Filing ↗