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.
Each company listed discloses KOD 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 KOD in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Victor Perlroth | $792,497 | $0 | $0 | $923,032 | $772,824 | $0 | $10,868 | $2,499,221 |
| Chief Executive Officer and Chairman of the Board | ||||||||
| John Borgeson | 552,968 | 0 | 0 | 678,700 | 373,321 | 0 | 10,868 | 1,615,857 |
| Executive Vice President, Chief Financial Officer and Secretary | ||||||||
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 |
|---|---|---|---|---|
| Victor Perlroth | $2,499,221 | — | — | — |
| John Borgeson | 1,615,857 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| John Borgeson | Chief Financial Officer | 2026-06-04 | D | 25,896 | $34 | $880,723 | Common | Form 4 ↗ |
| John Borgeson | Chief Financial Officer | 2026-06-04 | D | 4,104 | 35 | 142,286 | Common | Form 4 ↗ |
| John Borgeson | Chief Financial Officer | 2026-06-04 | A | 30,000 | 1 | 31,200 | Common | Form 4 ↗ |
| John Borgeson | Chief Financial Officer | 2026-06-04 | D | 30,000 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Richard S. Levy | Director | 2026-06-30 | A | 17,731 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| BAKER BROS. ADVISORS LP | Director | 2026-06-30 | A | 17,731 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Charles A. Bancroft | Director | 2026-06-30 | A | 17,731 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| BAKER BROS. ADVISORS LP | Director | 2026-06-30 | A | 17,731 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Taiyin Yang | Director | 2026-06-30 | A | 17,731 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Robert Profusek | Director | 2026-06-30 | A | 17,731 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Bassil I. Dahiyat | Director | 2026-06-30 | A | 17,731 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| John Borgeson | Chief Financial Officer | 2026-07-15 | A | 66,500 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Victor Perlroth | Director | 2026-07-15 | A | 100,000 | 0 | 0 | Derivative, Class A Common | Form 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.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| John Borgeson | OPTION | — | — | — | — | — | $678,700 |
| Victor Perlroth | OPTION | — | — | — | — | — | 923,032 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| John Borgeson | $0 | $0 | $678,700 | 0.0% |
| Victor Perlroth | 0 | 0 | 923,032 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| John Borgeson | Option | 82,136 | 7.24 | — |
| Victor Perlroth | Option | 47,396 | 8.15 | — |
| Victor Perlroth | Option | 262,209 | 2.49 | — |
| John Borgeson | Option | 216,032 | 2.49 | — |
| John Borgeson | Option | 20,782 | 8.15 | — |
| Victor Perlroth | Option | 223,959 | 3.95 | — |
| Victor Perlroth | Option | 132,605 | 7.24 | — |
We focus on providing a competitive compensation package which provides significant short-term and long-term incentives for the achievement of measurable corporate objectives. We believe that this approach provides an appropriate blend of short-term and long-term incentives to maximize stockholder value.
| CEO STI target (% of salary) | 65% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Compensia, Inc. |
| Clawback policy | True |
| Anti-hedging | True |
| Anti-pledging | False |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-02 | 49,157,143 | 323,196 | 21,005 | 99.35% | Passed |
| 2025 | 2025-06-02 | 35,200,864 | 2,365,796 | 49,473 | 93.7% | Passed |
| 2024 | 2024-06-04 | 36,430,878 | 4,405,093 | 39,312 | 89.21% | Passed |
| 2023 | 2023-06-06 | 32,457,916 | 5,299,673 | 43,642 | 85.96% | Passed |
| 2022 | 2022-06-07 | 32,519,426 | 3,748,425 | 31,564 | 89.66% | 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 | 2026-06-02 | 99.35%a |
| 2025 | 2025-06-02 | 93.7%b |
| 2024 | 2024-06-04 | 89.21%c |
a. Voting standard not stated in the filing.
b. Voting standard not stated in the filing.
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.
| Ratio (CEO : median employee) | — |
|---|---|
| CEO total compensation | — |
| Median employee compensation | — |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Robert A. Profusek, J.DIndependent · Lead Independent Director · Compensation (Chair) · Nominating and Governance (Chair) | $86,500 | $0 | $92,800 | $0 | $0 | $179,300 |
| Charles A. BancroftIndependent · Audit (Chair) · Compensation · Nominating and Governance | 77,500 | 0 | 92,800 | 0 | 0 | 170,300 |
| Bassil I. Dahiyat, Ph.DIndependent · Audit | 55,000 | 0 | 92,800 | 0 | 0 | 147,800 |
| Taiyin Yang, Ph.DIndependent · Audit | 55,000 | 0 | 92,800 | 0 | 0 | 147,800 |
| Richard S. Levy, M.DIndependent · Compensation · Nominating and Governance | 50,000 | 0 | 92,800 | 0 | 0 | 142,800 |
| Felix J. Baker, Ph.DIndependent · Compensation · Nominating and Governance | — | 0 | 92,800 | 0 | 0 | 92,800 |
| Victor Perlroth, M.DEmployee director · Board Chair | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | $45,000 |
|---|---|
| Annual equity retainer | $92,800 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | — |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $324,000 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $0 |
| Total cost of the board | $324,000 |
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 Kodiak Sciences 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 Kodiak Sciences.
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 | RAPT Therapeutics | 2024 | Brian Wong | $630,000 | $0 | $5,927,297 | $416,000 | $6,979,539 |
| 2 | Viridian Therapeutics | 2025 | Stephen Mahoney | 700,000 | 1,058,098 | 4,381,713 | 630,000 | 6,776,249 |
| 3 | AbCellera Biologics | 2025 | Carl Hansen | 550,000 | 0 | 5,361,934 | 0 | 6,293,085 |
| 4 | Nektar Therapeutics | 2025 | Howard Robin | 1,106,282 | 942,081 | 2,986,535 | 1,106,282 | 6,256,954 |
| 5 | Allogene Therapeutics | 2025 | David Chang | 724,000 | 2,409,537 | 2,588,329 | 400,010 | 6,136,093 |
| 6 | Heron Therapeutics | 2025 | Craig Collard | 689,431 | 946,254 | 1,352,917 | 517,189 | 3,516,291 |
| 7 | Kodiak Sciences | 2025 | Victor Perlroth | 792,497 | 0 | 923,032 | 772,824 | 2,499,221 |
| 8 | Fate Therapeutics | 2025 | Bahram Valamehr | 600,000 | 0 | 1,283,868 | 360,000 | 2,248,568 |
| 9 | 4D Molecular Therapeutics | 2025 | David Kirn | 667,252 | 0 | 822,750 | 560,597 | 2,051,343 |
| 10 | Mersana Therapeutics | 2024 | Michael Huber | 632,500 | 133,635 | 518,044 | 322,575 | 1,613,754 |
| — | EyePoint Pharmaceuticals | — | — | — | — | — | — | 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 |
|---|---|---|---|---|
| Kodiak Sciences | 150% | Options 100 | not disclosed | Compensia, Inc. |
| 4D Molecular Therapeutics | 140% | Options 100 | not disclosed | Radford (part of the Rewards Solutions practice at Aon plc) |
| AbCellera Biologics | not disclosed | Option 100 | not disclosed | Alpine Rewards |
| Allogene Therapeutics | 85% | Options 55 · RSU 25 · PSU 20 | No | Compensia |
| EyePoint Pharmaceuticals | not disclosed | not disclosed | not disclosed | not disclosed |
| Fate Therapeutics | 100% | Options 100 | No | Aon's Human Capital Solutions practice (Radford) |
| Heron Therapeutics | 100% | Options 67 · RSU 33 | not disclosed | Compensia, Inc. |
| Mersana Therapeutics | 85% | Options 75 · RSU 25 | not disclosed | Pearl Meyer & Partners, LLC |
| Nektar Therapeutics | 100% | not disclosed | No | Aon |
| RAPT Therapeutics | 120% | Options 100 | not disclosed | Aon plc/Radford |
| Viridian Therapeutics | 150% | Options 75 · RSU 25 | not disclosed | Compensia |
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.
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, Victor Perlroth | DEF 14A | 2026-04-22 | 0001193125-26-170429 | Section “2025 Summary Compensation Table”. As printed: 2,499,221. Filing ↗machine: r4 · c14 · span 905058–905068 |
| 2 | Section 01, John Borgeson | DEF 14A | 2026-04-22 | 0001193125-26-170429 | Section “2025 Summary Compensation Table”. As printed: 1,615,857. Filing ↗machine: r7 · c14 · span 926659–926668 |
| 3 | Section 03, John Borgeson OPTION | DEF 14A | 2026-04-22 | 0001193125-26-170429 | Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t62 · r7 · c8 · span 923787–923794 |
| 4 | Section 03, Victor Perlroth OPTION | DEF 14A | 2026-04-22 | 0001193125-26-170429 | Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t62 · r4 · c8 · span 902183–902190 |
| 5 | Section 07, pay ratio | 10-K | 2026-03-31 | 0001193125-26-134887 | Section “CEO Pay Ratio”. As printed: —. Filing ↗ |
| 6 | Section 08, Robert A. Profusek, J.D | DEF 14A | 2026-04-22 | 0001193125-26-170429 | Section “Director Compensation”. As printed: 179,300. Filing ↗machine: t35 · r8 · c12 · span 520504–520511 |
| 7 | Section 08, Charles A. Bancroft | DEF 14A | 2026-04-22 | 0001193125-26-170429 | Section “Director Compensation”. As printed: 170,300. Filing ↗machine: t35 · r5 · c12 · span 500683–500690 |
| 8 | Section 08, Bassil I. Dahiyat, Ph.D | DEF 14A | 2026-04-22 | 0001193125-26-170429 | Section “Director Compensation”. As printed: 147,800. Filing ↗machine: t35 · r6 · c12 · span 507291–507298 |
| 9 | Section 08, Taiyin Yang, Ph.D | DEF 14A | 2026-04-22 | 0001193125-26-170429 | Section “Director Compensation”. As printed: 147,800. Filing ↗machine: t35 · r9 · c12 · span 527106–527113 |
| 10 | Section 08, Richard S. Levy, M.D | DEF 14A | 2026-04-22 | 0001193125-26-170429 | Section “Director Compensation”. As printed: 142,800. Filing ↗machine: t35 · r7 · c12 · span 513896–513903 |
| 11 | Section 08, Felix J. Baker, Ph.D | DEF 14A | 2026-04-22 | 0001193125-26-170429 | Section “Director Compensation”. As printed: 92,800. Filing ↗machine: t35 · r4 · c8 · span 492311–492317 |
| 12 | Section 08, Victor Perlroth, M.D | DEF 14A | 2026-04-22 | 0001193125-26-170429 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 13 | Section 02, John Borgeson 2026-06-04 | Form 4 | 2026-06-05 | 0001754045-26-000006 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 14 | Section 02, John Borgeson 2026-06-04 | Form 4 | 2026-06-05 | 0001754045-26-000006 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 15 | Section 02, John Borgeson 2026-06-04 | Form 4 | 2026-06-05 | 0001754045-26-000006 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 16 | Section 02, John Borgeson 2026-06-04 | Form 4 | 2026-06-05 | 0001754045-26-000006 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 17 | Section 02, Richard S. Levy 2026-06-30 | Form 4 | 2026-07-02 | 0001454983-26-000006 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 18 | Section 02, BAKER BROS. ADVISORS LP 2026-06-30 | Form 4 | 2026-07-02 | 0001193125-26-294724 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 19 | Section 02, Charles A. Bancroft 2026-06-30 | Form 4 | 2026-07-02 | 0001480250-26-000003 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 20 | Section 02, BAKER BROS. ADVISORS LP 2026-06-30 | Form 4 | 2026-07-02 | 0001193125-26-294724 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 21 | Section 02, Taiyin Yang 2026-06-30 | Form 4 | 2026-07-02 | 0001334505-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 22 | Section 02, Robert Profusek 2026-06-30 | Form 4 | 2026-07-02 | 0001143732-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 23 | Section 02, Bassil I. Dahiyat 2026-06-30 | Form 4 | 2026-07-02 | 0001591312-26-000006 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 24 | Section 02, John Borgeson 2026-07-15 | Form 4 | 2026-07-17 | 0001754045-26-000008 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 25 | Section 02, Victor Perlroth 2026-07-15 | Form 4 | 2026-07-17 | 0001754181-26-000011 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 26 | Section 06, 2026 vote | Form 8-K | 2026-06-04 | 0001193125-26-257766 | Item 5.07 · say-on-pay result. As reported: 99.35% (votes for as printed: 49,157,143). Filing ↗ |
| 27 | Section 06, 2025 vote | Form 8-K | 2025-06-03 | 0001193125-25-134149 | Item 5.07 · say-on-pay result. As reported: 93.7% (votes for as printed: 35,200,864). Filing ↗ |
| 28 | Section 06, 2024 vote | Form 8-K | 2024-06-06 | 0001193125-24-156056 | Item 5.07 · say-on-pay result. As reported: 89.21% (votes for as printed: 36,430,878). Filing ↗ |
| 29 | Section 03b vehicle mix (computed) | Computed | — | computed | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 30 | Section 09b board cost (computed) | Computed | — | computed | Cash 324,000 + equity 0 + all other 0 = 324,000, summed across the director compensation table rows.machine: formula: Σ = 324,000 |
| 31 | RAPT Therapeutics, Section 10b CEO total | DEF 14A | 2025-04-14 | 0000950170-25-053517 | CEO total compensation as printed in RAPT Therapeutics's own proxy. As printed: 6,979,539. Filing ↗machine: r2 · c23 · span 816852–816861 |
| 32 | Viridian Therapeutics, Section 10b CEO total | DEF 14A | 2026-04-17 | 0001193125-26-160344 | CEO total compensation as printed in Viridian Therapeutics's own proxy. As printed: 6,776,249. Filing ↗machine: r2 · c35 · span 371769–371778 |
| 33 | AbCellera Biologics, Section 10b CEO total | DEF 14A | 2026-04-29 | 0001703057-26-000020 | CEO total compensation as printed in AbCellera Biologics's own proxy. As printed: 6,293,085. Filing ↗machine: r2 · c36 · span 392248–392257 |
| 34 | Nektar Therapeutics, Section 10b CEO total | DEF 14A | 2026-04-24 | 0001140361-26-016708 | CEO total compensation as printed in Nektar Therapeutics's own proxy. As printed: 6,256,954. Filing ↗machine: r2 · c24 · span 738327–738336 |
| 35 | Allogene Therapeutics, Section 10b CEO total | DEF 14A | 2026-04-30 | 0001628280-26-028948 | CEO total compensation as printed in Allogene Therapeutics's own proxy. As printed: 6,136,093. Filing ↗machine: r2 · c54 · span 451014–451023 |
| 36 | Heron Therapeutics, Section 10b CEO total | DEF 14A | 2026-04-30 | 0001193125-26-196306 | CEO total compensation as printed in Heron Therapeutics's own proxy. As printed: 3,516,291. Filing ↗machine: span 728212–728221 |
| 37 | Kodiak Sciences (subject), Section 10b CEO total | DEF 14A | 2026-04-22 | 0001193125-26-170429 | CEO total compensation as printed in Kodiak Sciences's own proxy. As printed: 2,499,221. Filing ↗machine: r4 · c14 · span 905058–905068 |
| 38 | Fate Therapeutics, Section 10b CEO total | DEF 14A | 2026-04-24 | 0001193125-26-177094 | CEO total compensation as printed in Fate Therapeutics's own proxy. As printed: 2,248,568. Filing ↗machine: r2 · c31 · span 391551–391560 |
| 39 | 4D Molecular Therapeutics, Section 10b CEO total | DEF 14A | 2026-04-28 | 0001140361-26-017427 | CEO total compensation as printed in 4D Molecular Therapeutics's own proxy. As printed: 2,051,343. Filing ↗machine: r2 · c21 · span 356185–356194 |
| 40 | Mersana Therapeutics, Section 10b CEO total | DEF 14A | 2025-04-29 | 0001104659-25-040448 | CEO total compensation as printed in Mersana Therapeutics's own proxy. As printed: 1,613,754. Filing ↗machine: t16 · r1 · c41 · span 608188–608197 |
| 41 | Section 10a, AbCellera Biologics reciprocity | DEF 14A | — | 0001703057-26-000020 | AbCellera Biologics's most recent proxy was read; its disclosed peer group does not include Kodiak Sciences. Filing ↗ |
| 42 | Section 10a, Viridian Therapeutics reciprocity | DEF 14A | — | 0001193125-26-160344 | Viridian Therapeutics's most recent proxy was read; its disclosed peer group does not include Kodiak Sciences. Filing ↗ |
| 43 | Section 10a, Nektar Therapeutics reciprocity | DEF 14A | — | 0001140361-26-016708 | Nektar Therapeutics names Kodiak Sciences in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 44 | Section 10a, Allogene Therapeutics reciprocity | DEF 14A | — | 0001628280-26-028948 | Allogene Therapeutics's most recent proxy was read; its disclosed peer group does not include Kodiak Sciences. Filing ↗ |
| 45 | Section 10a, Heron Therapeutics reciprocity | DEF 14A | — | 0001193125-26-196306 | Heron Therapeutics's most recent proxy was read; its disclosed peer group does not include Kodiak Sciences. Filing ↗ |
| 46 | Section 10a, Mersana Therapeutics reciprocity | DEF 14A | — | 0001104659-25-040448 | Mersana Therapeutics's most recent proxy was read; its disclosed peer group does not include Kodiak Sciences. Filing ↗ |