Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-29

Lineage Cell Therapeutics (LCTX)

CEO Brian Culley was paid $2,111,170 in fiscal year 2025, ↓ down 16.7% from fiscal year 2024, the 29th percentile of its disclosed peer group (SEC filing 0001193125-26-191556 ↗): 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.

$2,111,170 ↓
Brian Culley total, FY2025
29th
CEO pay percentile vs peers
—
CEO-to-median pay ratio
97.14%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Brian Culley (Chief Executive Officer), FY2025 total compensation $2,111,170 (base salary $691,800) [exec_comp, SEC accession 0001193125-26-191556, filed 2026-04-29]

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LCTX's next annual pay disclosure, estimated April 29, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Brian Culley$691,800$0$0$882,970$518,900$0$17,500$2,111,170
Chief Executive Officer
Jill Howe467,00000287,925233,500017,5001,005,925
Chief Financial Officer
George Samuel III448,50000287,925224,300017,500978,225
General Counsel and Corporate 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.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Brian Culley$2,111,170$2,534,450$2,905,130↓ −423,280
Jill Howe1,005,9251,114,100738,855↓ −108,175
George Samuel III978,2251,113,6001,210,813↓ −135,375

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

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Companies that benchmark against LCTX
6 companies name LCTX as a compensation peer

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

01b

Executives — the named officers

One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.

ExecutiveRoleFY2025 total
Brian CulleyCEO$2,111,170
Jill HoweCFO$1,005,925
George Samuel IIIGeneral Counsel$978,225
01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Angus C. RussellIndependent Director$120,990
Anula JayasuriyaIndependent Director$103,490
Deborah AndrewsIndependent Director$123,490
Dipti AminIndependent Director$103,490
Michael H. MulroyIndependent Director$160,990
Neal C. BradsherIndependent Director$118,490
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 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Brian CulleyOPTION2025-03-10——2,300,000—$882,970
Jill HoweOPTION2025-03-10——750,000—287,925
George Samuel IIIOPTION2025-03-10——750,000—287,925
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Brian Culley$0$0$882,9700.0%
Jill Howe00287,9250.0%
George Samuel III00287,9250.0%

% 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 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Brian CulleyRSU147,320—$52,186
George Samuel IIIRSU28,646—10,147
Brian CulleyOption78,1251.4—
Brian CulleyOption593,7501.46—
Brian CulleyOption1,068,7501.13—
Brian CulleyOption2,300,0000.53—
George Samuel IIIOption40,6251.4—
George Samuel IIIOption203,1251.46—
George Samuel IIIOption365,6251.13—
George Samuel IIIOption750,0000.53—
Jill HoweOption229,1671.36—
Jill HoweOption46,8751.46—
Jill HoweOption750,0000.53—
Jill HoweOption365,6251.13—
05

Incentive-plan design — the Compensation Discussion & Analysis

The Compensation Committee aims to be competitive in executive hiring and retention by targeting market pay percentiles based on peer group data.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantAnderson
Clawback policy—
Anti-hedging—
Anti-pledging—
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-1088,328,1682,600,932655,68597.14%Passed
20252025-06-2696,071,1623,804,451611,81496.19%Passed
20242024-06-1187,812,5983,704,495746,59695.95%Passed
20232023-09-0670,271,6984,542,895561,80793.23%Passed
20222022-06-1670,879,4741,813,6191,802,35697.51%Passed
20212021-09-1370,898,4733,204,251616,94895.68%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
20262026-06-1097.14%a
20252025-06-2696.19%b
20242024-06-1195.95%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.

08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Michael H. MulroyIndependent · Audit$115,000$0$45,990—$0$160,990
Deborah AndrewsIndependent · Audit (Chair) · Compensation77,500045,990—0123,490
Angus C. RussellIndependent · Audit75,000045,990—0120,990
Neal C. BradsherIndependent · Nominating & Corporate Governance (Chair) · Financial Strategy72,500045,990—0118,490
Dipti AminIndependent · Compensation57,500045,990—0103,490
Anula JayasuriyaIndependent · Nominating CorporateGovernance57,500045,990—0103,490
Brian M. CulleyEmployee director · Financial Strategy (Chair)—————0
09

Board fee structure and ownership guideline

Annual cash retainer—
Annual equity retainer—
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)—
Stock ownership guidelineUnder these guidelines, our directors are required to hold at least 10,000 common shares three years following the date of their election to our Board.
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$455,000
Equity awards (grant-date value)$0
All other compensation$0
Total cost of the board$455,000

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

10

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.

10a

Peer reciprocity

Of the companies Lineage Cell Therapeutics 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 Lineage Cell Therapeutics.

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
1Vor Biopharma Inc.2025Jean-Paul Kress$344,615$0$64,013,465$251,425$65,027,569
2Allogene Therapeutics, Inc.2025David Chang724,0002,409,5372,588,329400,0106,136,093
3AnaptysBio, Inc.2025Daniel Faga706,0111,592,0013,345,653465,9686,133,943
4Cartesian Therapeutics, Inc.2025Carsten Brunn674,000973,4752,314,320363,9604,329,868
5Adverum Biotechnologies, Inc.2024Laurent Fischer691,795171,3632,839,252415,0804,131,290
6Capricor Therapeutics, Inc2025Linda Marbán300,00002,940,92003,521,565
7Nkarta, Inc.2025Paul Hastings674,384236,2501,711,957344,9472,978,038
8Sana Biotechnology, Inc.2025Steven Harr696,140425,0011,327,500450,3692,903,010
9Verastem, Inc.2025Daniel Paterson674,0001,161,6610489,3242,349,975
10Fate Therapeutics, Inc.2025Bahram Valamehr600,00001,283,868360,0002,248,568
11Lineage Cell Therapeutics2025Brian Culley691,8000882,970518,9002,111,170
12Kyverna Therapeutics Inc2025Warner Biddle625,0000543,804468,7501,814,980
13Agenus Inc.2025Garo Armen715,2600141,00001,350,325
14Chimerix Inc2023Mike Andriole528,47393,135399,282280,5001,312,421
15Century Therapeutics, Inc.2025Gregory Russotti559,65071,12051,240226,658912,320
—BioAtla, 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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Lineage Cell Therapeuticsnot disclosednot disclosednot disclosedAnderson
Adverum Biotechnologies, Inc.not disclosednot disclosednot disclosedAon
Agenus Inc.125%Options 100not disclosedAon Radford
Allogene Therapeutics, Inc.not disclosedOption 55 · RSU 25 · PSU 20not disclosedCompensia
AnaptysBio, Inc.110%not disclosedNoAlpine Rewards
BioAtla, Inc.not disclosednot disclosednot disclosednot disclosed
Capricor Therapeutics, Inc25% to 90% of base salary%not disclosednot disclosedPay Governance LLC
Cartesian Therapeutics, Inc.not disclosednot disclosednot disclosedCompensia
Century Therapeutics, Inc.not disclosednot disclosednot disclosednot disclosed
Chimerix Inc85%Option 86 · RSU 14not disclosedAon
Fate Therapeutics, Inc.100%Options 100NoAon's Human Capital Solutions practice (Radford)
Kyverna Therapeutics Incnot disclosedOption 100not disclosedAon plc
Nkarta, Inc.not disclosednot disclosednot disclosedAon Consulting, Inc.
Sana Biotechnology, Inc.107.5%not disclosednot disclosedAon plc (Human Capital Solutions practice)
Verastem, Inc.not disclosednot disclosednot disclosedPearl Meyer
Vor Biopharma Inc.not disclosednot disclosednot disclosedAlpine Rewards, LLC

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.

10d

Frequently asked questions

Who was the highest-paid executive at Lineage Cell Therapeutics in fiscal 2025?
As disclosed, Brian Culley (Chief Executive Officer) was the highest-paid executive at Lineage Cell Therapeutics in fiscal 2025, with total compensation of $2,111,170.
How does Lineage Cell Therapeutics's chief executive pay compare to its disclosed peer group?
As disclosed, Brian Culley's total compensation ranked at the 29th percentile of Lineage Cell Therapeutics's disclosed peer group.
How did shareholders vote on Lineage Cell Therapeutics's executive compensation?
As disclosed, 97.14% of shareholders supported Lineage Cell Therapeutics's executive compensation in the latest say-on-pay vote.
How much does Lineage Cell Therapeutics spend in total on board compensation for fiscal 2025?
As disclosed, Lineage Cell Therapeutics reported total board compensation of $455,000 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.

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, Brian CulleyDEF 14A2026-04-290001193125-26-191556Section “Executive Compensation”. As printed: 2,111,170. Filing ↗machine: span 377951–377960
2Section 01, Jill HoweDEF 14A2026-04-290001193125-26-191556Section “Executive Compensation”. As printed: 1,005,925. Filing ↗machine: span 400305–400314
3Section 01, George Samuel IIIDEF 14A2026-04-290001193125-26-191556Section “Executive Compensation”. As printed: 978,225. Filing ↗machine: span 422665–422672
4Section 03, Brian Culley OPTIONDEF 14A2026-04-290001193125-26-191556Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 758962–758969
5Section 03, Jill Howe OPTIONDEF 14A2026-04-290001193125-26-191556Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 766275–766282
6Section 03, George Samuel III OPTIONDEF 14A2026-04-290001193125-26-191556Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 773596–773603
7Section 08, Michael H. MulroyDEF 14A2026-04-290001193125-26-191556Section “Director Compensation”. As printed: 160,990. Filing ↗machine: span 208279–208488
8Section 08, Deborah AndrewsDEF 14A2026-04-290001193125-26-191556Section “Director Compensation”. As printed: 123,490. Filing ↗machine: span 189783–189992
9Section 08, Angus C. RussellDEF 14A2026-04-290001193125-26-191556Section “Director Compensation”. As printed: 120,990. Filing ↗machine: span 212904–213113
10Section 08, Neal C. BradsherDEF 14A2026-04-290001193125-26-191556Section “Director Compensation”. As printed: 118,490. Filing ↗machine: span 199027–199236
11Section 08, Dipti AminDEF 14A2026-04-290001193125-26-191556Section “Director Compensation”. As printed: 103,490. Filing ↗machine: span 194402–194611
12Section 08, Anula JayasuriyaDEF 14A2026-04-290001193125-26-191556Section “Director Compensation”. As printed: 103,490. Filing ↗machine: span 203652–203861
13Section 08, Brian M. CulleyDEF 14A2026-04-290001193125-26-191556Section “Director Compensation”. As printed: 0. Filing ↗
14Section 06, 2026 voteForm 8-K2026-06-120001193125-26-269557Item 5.07 · say-on-pay result. As reported: 97.14% (votes for as printed: 88,328,168). Filing ↗
15Section 06, 2025 voteForm 8-K2025-07-020000950170-25-093007Item 5.07 · say-on-pay result. As reported: 96.19% (votes for as printed: 96,071,162). Filing ↗
16Section 06, 2024 voteForm 8-K2024-06-130000950170-24-073072Item 5.07 · say-on-pay result. As reported: 95.95% (votes for as printed: 87,812,598). Filing ↗
17Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
18Section 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).machine: formula: sums + PSU ratio
19Section 09b board cost (computed)Computed——Cash 455,000 + equity 0 + all other 0 = 455,000, summed across the director compensation table rows.machine: formula: Σ = 455,000
20Vor Biopharma Inc., Section 10b CEO totalDEF 14A2026-04-270001193125-26-181883CEO total compensation as printed in Vor Biopharma Inc.'s own proxy. As printed: 65,027,569. Filing ↗machine: r2 · c28 · span 644794–644804
21Allogene Therapeutics, Inc., Section 10b CEO totalDEF 14A2026-04-300001628280-26-028948CEO total compensation as printed in Allogene Therapeutics, Inc.'s own proxy. As printed: 6,136,093. Filing ↗machine: r2 · c54 · span 451014–451023
22AnaptysBio, Inc., Section 10b CEO totalDEF 14A2026-06-290001193125-26-288408CEO total compensation as printed in AnaptysBio, Inc.'s own proxy. As printed: 6,133,943. Filing ↗machine: span 694406–694415
23Cartesian Therapeutics, Inc., Section 10b CEO totalDEF 14A2026-04-280001453687-26-000072CEO total compensation as printed in Cartesian Therapeutics, Inc.'s own proxy. As printed: 4,329,868. Filing ↗machine: r2 · c45 · span 520739–520748
24Adverum Biotechnologies, Inc., Section 10b CEO totalDEF 14A2025-04-280001140361-25-016005CEO total compensation as printed in Adverum Biotechnologies, Inc.'s own proxy. As printed: 4,131,290. Filing ↗machine: r2 · c24 · span 929707–929716
25Capricor Therapeutics, Inc, Section 10b CEO totalDEF 14A2026-04-100001104659-26-042070CEO total compensation as printed in Capricor Therapeutics, Inc's own proxy. As printed: 3,521,565. Filing ↗
26Nkarta, Inc., Section 10b CEO totalDEF 14A2026-04-230001140361-26-016403CEO total compensation as printed in Nkarta, Inc.'s own proxy. As printed: 2,978,038. Filing ↗machine: r2 · c27 · span 344226–344235
27Sana Biotechnology, Inc., Section 10b CEO totalDEF 14A2026-04-240001193125-26-174883CEO total compensation as printed in Sana Biotechnology, Inc.'s own proxy. As printed: 2,903,010. Filing ↗machine: t69 · r3 · c27 · span 235773–235782
28Verastem, Inc., Section 10b CEO totalDEF 14A2026-04-090001104659-26-041506CEO total compensation as printed in Verastem, Inc.'s own proxy. As printed: 2,349,975. Filing ↗
29Fate Therapeutics, Inc., Section 10b CEO totalDEF 14A2026-04-240001193125-26-177094CEO total compensation as printed in Fate Therapeutics, Inc.'s own proxy. As printed: 2,248,568. Filing ↗machine: r2 · c31 · span 391551–391560
30Lineage Cell Therapeutics (subject), Section 10b CEO totalDEF 14A2026-04-290001193125-26-191556CEO total compensation as printed in Lineage Cell Therapeutics's own proxy. As printed: 2,111,170. Filing ↗machine: span 377951–377960
31Kyverna Therapeutics Inc, Section 10b CEO totalDEF 14A2026-04-130001193125-26-152835CEO total compensation as printed in Kyverna Therapeutics Inc's own proxy. As printed: 1,814,980. Filing ↗machine: r2 · c26 · span 547940–547949
32Agenus Inc., Section 10b CEO totalDEF 14A2026-04-300001193125-26-197536CEO total compensation as printed in Agenus Inc.'s own proxy. As printed: 1,350,325. Filing ↗machine: r2 · c21 · span 404620–404629
33Chimerix Inc, Section 10b CEO totalDEF 14A2024-04-260001117480-24-000010CEO total compensation as printed in Chimerix Inc's own proxy. As printed: 1,312,421. Filing ↗
34Century Therapeutics, Inc., Section 10b CEO totalDEF 14A2026-04-270001104659-26-049489CEO total compensation as printed in Century Therapeutics, Inc.'s own proxy. As printed: 912,320. Filing ↗machine: r3 · c26 · span 521444–521451
35Section 10a, Capricor Therapeutics, Inc reciprocityDEF 14A—0001104659-26-042070Capricor Therapeutics, Inc's most recent proxy was read; its disclosed peer group does not include Lineage Cell Therapeutics. Filing ↗
36Section 10a, Verastem, Inc. reciprocityDEF 14A—0001104659-26-041506Verastem, Inc.'s most recent proxy was read; its disclosed peer group does not include Lineage Cell Therapeutics. Filing ↗
37Section 10a, Adverum Biotechnologies, Inc. reciprocityDEF 14A—0001140361-25-016005Adverum Biotechnologies, Inc. names Lineage Cell Therapeutics in its own disclosed peer group (read from its most recent proxy). Filing ↗
38Section 10a, Chimerix Inc reciprocityDEF 14A—0001117480-24-000010Chimerix Inc's most recent proxy was read; its disclosed peer group does not include Lineage Cell Therapeutics. Filing ↗
39Section 10a, Agenus Inc. reciprocityDEF 14A—0001193125-26-197536Agenus Inc.'s most recent proxy was read; its disclosed peer group does not include Lineage Cell Therapeutics. Filing ↗
40Section 10a, Allogene Therapeutics, Inc. reciprocityDEF 14A—0001628280-26-028948Allogene Therapeutics, Inc.'s most recent proxy was read; its disclosed peer group does not include Lineage Cell Therapeutics. Filing ↗
41Section 10a, Cartesian Therapeutics, Inc. reciprocityDEF 14A—0001453687-26-000072Cartesian Therapeutics, Inc. names Lineage Cell Therapeutics in its own disclosed peer group (read from its most recent proxy). Filing ↗
42Section 10a, AnaptysBio, Inc. reciprocityDEF 14A—0001193125-26-288408AnaptysBio, Inc.'s most recent proxy was read; its disclosed peer group does not include Lineage Cell Therapeutics. Filing ↗

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