CEO George Magrath was paid $1,493,383 in fiscal year 2025, ↑ up 67.9% from fiscal year 2024, the 1st percentile of its disclosed peer group (SEC filing 0001140361-26-010757 ↗): 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.
$1,493,383 ↑ George Magrath total, FY2025 | 1st CEO pay percentile vs peers | — CEO-to-median pay ratio | 99.26% Say-on-pay support, latest vote |
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| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| George Magrath | $598,000 | $0 | $307,548 | $212,045 | $361,790 | $0 | $14,000 | $1,493,383 |
| Chief Executive Officer | ||||||||
| Ashwath Jayagopal | 416,000 | 50,000 | 48,825 | 33,663 | 205,920 | 0 | 10,440 | 764,848 |
| Chief Scientific and Development Officer | ||||||||
| Joseph Schachle | 416,000 | 0 | 48,825 | 33,663 | 205,920 | 0 | 14,000 | 718,408 |
| Chief Operating 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.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| George Magrath | $1,493,383 | $889,238 | $2,667,353 | ↑ +604,145 |
| Ashwath Jayagopal | 764,848 | 1,242,154 | — | ↓ −477,306 |
| Joseph Schachle | 718,408 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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This is the complete answer, not a partial one — the list is never padded.
One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2025 total |
|---|---|---|
| Cam Gallagher | Chair of the Board | $295,967 |
| Dr. Adrienne Graves | Independent Director | $171,443 |
| Dr. Benjamin R. Yerxa | Director | — |
| Dr. James S. Manuso | Independent Director | $188,917 |
| Dr. Jean Bennett | Director | $168,503 |
| Richard Rodgers | Independent Director | $189,450 |
| Sean Ainsworth | Independent Director | $210,137 |
| Susan K. Benton | Independent Director | $180,137 |
No insider equity transactions reported since the proxy statement.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Magrath | RSU | 330,697 | — | $664,701 |
| Magrath | RSU | 200,000 | — | 402,000 |
| Joseph Schachle | RSU | 52,500 | — | 105,525 |
| Magrath | Option | 275,000 | 2.87 | — |
| Magrath | Option | 330,697 | 0.93 | — |
| Joseph Schachle | Option | 137,500 | 2.79 | — |
| Joseph Schachle | Option | 52,500 | 0.93 | — |
Our current executive compensation program is intended to align executive compensation with our business objectives and to enable us to attract, retain and reward executive officers who contribute to our long-term success.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Anderson Pay Advisors, LLC |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | false |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-04-20 | 34,862,743 | 259,749 | 110,779 | 99.26% | Passed |
| 2025 | 2025-04-30 | 20,400,277 | 3,330,593 | 507,116 | 85.97% | Passed |
| 2024 | 2024-06-11 | 5,557,319 | 3,310,180 | 165,621 | 61.52% | Passed |
| 2021 | 2021-06-07 | 4,054,791 | 95,027 | 57,312 | 97.71% | Passed |
| 2017 | 2017-04-11 | 82,573,930 | 12,908,813 | 8,988,524 | 86.48% | 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.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-04-20 | 99.26%a |
| 2025 | 2025-04-30 | 85.97%b |
| 2024 | 2024-06-11 | 61.52%c |
a. Voting standard not stated in the filing.
b. Voting standard not stated in the filing.
c. Approved under the standard stated in the filing — “ An abstention has the same effect as a vote "against" 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.
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Cam GallagherIndependent · Board Chair · Compensation Committee (Chair) · Nominating and Corporate Governance Committee | $104,000 | $141,859 | $50,108 | — | $0 | $295,967 |
| Sean AinsworthIndependent · Audit Committee · Compensation Committee | 84,500 | 75,529 | 50,108 | — | 0 | 210,137 |
| Richard RodgersIndependent · Audit Committee (Chair) | 63,813 | 75,529 | 50,108 | — | 0 | 189,450 |
| Dr. James S. ManusoIndependent · Audit Committee · Nominating and Corporate Governance Committee (Chair) | 62,000 | 76,809 | 50,108 | — | 0 | 188,917 |
| Susan K. BentonIndependent · Compensation Committee · Nominating and Corporate Governance Committee | 54,500 | 75,529 | 50,108 | — | 0 | 180,137 |
| Dr. Adrienne GravesIndependent · Nominating and Corporate Governance Committee | 45,806 | 75,529 | 50,108 | — | 0 | 171,443 |
| Dr. Jean BennettNot independent · Governance | 42,000 | 76,395 | 50,108 | — | 0 | 168,503 |
| Dr. George MagrathEmployee director · Governance | — | — | — | — | — | 0 |
| Dr. Benjamin R. YerxaEmployee director · Governance | — | — | — | — | — | 0 |
| Annual cash retainer | $42,000 |
|---|---|
| Annual equity retainer | $120,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 10,000 / 7,500 / 5,000 |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $456,619 |
| Equity awards (grant-date value) | $597,179 |
| All other compensation | $0 |
| Total cost of the board | $1,053,798 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Of the companies Opus Genetics 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 Opus Genetics.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Ocugen, Inc. | 2025 | Shankar Musunuri | $757,900 | $2,194,445 | $1,385,871 | $0 | $4,841,822 |
| 2 | Aldeyra Therapeutics, Inc. | 2025 | Todd Brady | 700,000 | 0 | 3,801,379 | 189,000 | 4,704,179 |
| 3 | Adverum Biotechnologies, Inc. | 2024 | Laurent Fischer | 691,795 | 171,363 | 2,839,252 | 415,080 | 4,131,290 |
| 4 | Aura Biosciences, Inc. | 2025 | Elisabet de los Pinos | 645,483 | 1,492,378 | 1,513,293 | 284,013 | 3,956,167 |
| 5 | Annexon, Inc. | 2025 | Douglas Love | 670,833 | 0 | 2,522,260 | 371,250 | 3,579,202 |
| 6 | Lineage Cell Therapeutics, Inc. | 2025 | Brian Culley | 691,800 | 0 | 882,970 | 518,900 | 2,111,170 |
| 7 | 4D Molecular Therapeutics, Inc. | 2025 | David Kirn | 667,252 | 0 | 822,750 | 560,597 | 2,051,343 |
| 8 | Opus Genetics | 2025 | George Magrath | 598,000 | 307,548 | 212,045 | 361,790 | 1,493,383 |
| — | Outlook Therapeutics, Inc. | — | — | — | — | — | — | not in coverage universe |
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.
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Opus Genetics | not disclosed | not disclosed | not disclosed | Anderson Pay Advisors, LLC |
| 4D Molecular Therapeutics, Inc. | 140% | Options 100 | not disclosed | Radford (part of the Rewards Solutions practice at Aon plc) |
| Adverum Biotechnologies, Inc. | not disclosed | not disclosed | not disclosed | Aon |
| Aldeyra Therapeutics, Inc. | not disclosed | Option 100 | not disclosed | Pearl Meyer & Partners, LLC |
| Annexon, Inc. | 100% of target% | not disclosed | not disclosed | Alpine Rewards |
| Aura Biosciences, Inc. | not disclosed | not disclosed | not disclosed | Pay Governance |
| Lineage Cell Therapeutics, Inc. | not disclosed | not disclosed | not disclosed | Anderson |
| Ocugen, Inc. | not disclosed | not disclosed | not disclosed | Pearl Meyer & Partners LLC |
| Outlook Therapeutics, Inc. | not disclosed | not disclosed | not disclosed | not 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.
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.
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.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, George Magrath | DEF 14A | 2026-03-23 | 0001140361-26-010757 | Section “Executive Compensation”. As printed: 1,493,383. Filing ↗machine: r2 · c25 · span 782488–782497 |
| 2 | Section 01, Ashwath Jayagopal | DEF 14A | 2026-03-23 | 0001140361-26-010757 | Section “Executive Compensation”. As printed: 764,848. Filing ↗machine: r5 · c25 · span 798268–798275 |
| 3 | Section 01, Joseph Schachle | DEF 14A | 2026-03-23 | 0001140361-26-010757 | Section “Executive Compensation”. As printed: 718,408. Filing ↗machine: r4 · c25 · span 792709–792716 |
| 4 | Section 08, Cam Gallagher | DEF 14A | 2026-03-23 | 0001140361-26-010757 | Section “Director Compensation”. As printed: 295,967. Filing ↗machine: span 674874–675049 |
| 5 | Section 08, Sean Ainsworth | DEF 14A | 2026-03-23 | 0001140361-26-010757 | Section “Director Compensation”. As printed: 210,137. Filing ↗machine: span 664478–664653 |
| 6 | Section 08, Richard Rodgers | DEF 14A | 2026-03-23 | 0001140361-26-010757 | Section “Director Compensation”. As printed: 189,450. Filing ↗machine: span 684740–684914 |
| 7 | Section 08, Dr. James S. Manuso | DEF 14A | 2026-03-23 | 0001140361-26-010757 | Section “Director Compensation”. As printed: 188,917. Filing ↗machine: span 681923–682098 |
| 8 | Section 08, Susan K. Benton | DEF 14A | 2026-03-23 | 0001140361-26-010757 | Section “Director Compensation”. As printed: 180,137. Filing ↗machine: span 671468–671643 |
| 9 | Section 08, Dr. Adrienne Graves | DEF 14A | 2026-03-23 | 0001140361-26-010757 | Section “Director Compensation”. As printed: 171,443. Filing ↗machine: span 678422–678597 |
| 10 | Section 08, Dr. Jean Bennett | DEF 14A | 2026-03-23 | 0001140361-26-010757 | Section “Director Compensation”. As printed: 168,503. Filing ↗machine: span 667976–668151 |
| 11 | Section 08, Dr. George Magrath | DEF 14A | 2026-03-23 | 0001140361-26-010757 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 12 | Section 08, Dr. Benjamin R. Yerxa | DEF 14A | 2026-03-23 | 0001140361-26-010757 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 13 | Section 06, 2026 vote | Form 8-K | 2026-04-22 | 0001140361-26-015990 | Item 5.07 · say-on-pay result. As reported: 99.26% (votes for as printed: 34,862,743). Filing ↗ |
| 14 | Section 06, 2025 vote | Form 8-K | 2025-05-01 | 0001140361-25-016948 | Item 5.07 · say-on-pay result. As reported: 85.97% (votes for as printed: 20,400,277). Filing ↗ |
| 15 | Section 06, 2024 vote | Form 8-K | 2024-06-13 | 0001140361-24-030012 | Item 5.07 · say-on-pay result. As reported: 61.52% (votes for as printed: 5,557,319). Filing ↗ |
| 16 | Section 01 trend, Δ column (computed) | Computed | — | — | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 17 | Section 09b board cost (computed) | Computed | — | — | Cash 456,619 + equity 597,179 + all other 0 = 1,053,798, summed across the director compensation table rows.machine: formula: Σ = 1,053,798 |
| 18 | Ocugen, Inc., Section 10b CEO total | DEF 14A | 2026-04-28 | 0001140361-26-017260 | CEO total compensation as printed in Ocugen, Inc.'s own proxy. As printed: 4,841,822. Filing ↗machine: r2 · c22 · span 505124–505133 |
| 19 | Aldeyra Therapeutics, Inc., Section 10b CEO total | DEF 14A | 2026-04-27 | 0001193125-26-182099 | CEO total compensation as printed in Aldeyra Therapeutics, Inc.'s own proxy. As printed: 4,704,179. Filing ↗machine: span 302788–302797 |
| 20 | Adverum Biotechnologies, Inc., Section 10b CEO total | DEF 14A | 2025-04-28 | 0001140361-25-016005 | CEO total compensation as printed in Adverum Biotechnologies, Inc.'s own proxy. As printed: 4,131,290. Filing ↗machine: r2 · c24 · span 929707–929716 |
| 21 | Aura Biosciences, Inc., Section 10b CEO total | DEF 14A | 2026-04-20 | 0001193125-26-163933 | CEO total compensation as printed in Aura Biosciences, Inc.'s own proxy. As printed: 3,956,167. Filing ↗machine: t10 · r2 · c29 · span 480151–480160 |
| 22 | Annexon, Inc., Section 10b CEO total | DEF 14A | 2026-04-27 | 0001140361-26-017085 | CEO total compensation as printed in Annexon, Inc.'s own proxy. As printed: 3,579,202. Filing ↗machine: r2 · c24 · span 356205–356214 |
| 23 | Lineage Cell Therapeutics, Inc., Section 10b CEO total | DEF 14A | 2026-04-29 | 0001193125-26-191556 | CEO total compensation as printed in Lineage Cell Therapeutics, Inc.'s own proxy. As printed: 2,111,170. Filing ↗machine: span 377951–377960 |
| 24 | 4D Molecular Therapeutics, Inc., Section 10b CEO total | DEF 14A | 2026-04-28 | 0001140361-26-017427 | CEO total compensation as printed in 4D Molecular Therapeutics, Inc.'s own proxy. As printed: 2,051,343. Filing ↗machine: r2 · c21 · span 356185–356194 |
| 25 | Opus Genetics (subject), Section 10b CEO total | DEF 14A | 2026-03-23 | 0001140361-26-010757 | CEO total compensation as printed in Opus Genetics's own proxy. As printed: 1,493,383. Filing ↗machine: r2 · c25 · span 782488–782497 |
| 26 | Section 10a, Lineage Cell Therapeutics, Inc. reciprocity | DEF 14A | — | 0001193125-26-191556 | Lineage Cell Therapeutics, Inc.'s most recent proxy was read; its disclosed peer group does not include Opus Genetics. Filing ↗ |
| 27 | Section 10a, Adverum Biotechnologies, Inc. reciprocity | DEF 14A | — | 0001140361-25-016005 | Adverum Biotechnologies, Inc.'s most recent proxy was read; its disclosed peer group does not include Opus Genetics. Filing ↗ |