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 LRMR 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 LRMR 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 |
|---|---|---|---|---|---|---|---|---|
| Carole Ben-Maimon | $650,000 | $307,450 | $660,860 | $1,889,160 | $0 | $0 | $18,953 | $3,526,423 |
| President and Chief Executive Officer | ||||||||
| Michael Celano | 505,000 | 173,720 | 291,280 | 709,684 | 0 | 0 | 18,276 | 1,697,960 |
| Chief Financial Officer and Secretary | ||||||||
| Gopi Shankar | 466,003 | 160,305 | 167,139 | 483,839 | 0 | 0 | 16,043 | 1,293,329 |
| Chief Development 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 |
|---|---|---|---|---|
| Carole Ben-Maimon | $3,526,423 | $2,511,649 | — | +1,014,774 |
| Michael Celano | 1,697,960 | 1,384,705 | — | +313,255 |
| Gopi Shankar | 1,293,329 | 1,165,126 | — | +128,203 |
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 |
|---|---|---|---|---|---|---|---|---|
| Frank Thomas | Director | 2026-05-19 | A | 55,150 | $0 | $0 | Derivative, Class A Common | Form 4 ↗ |
| Jeffrey W. Sherman | Director | 2026-05-19 | A | 55,150 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Thomas E. Hamilton | Director | 2026-05-19 | A | 55,150 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Joseph Truitt | Director | 2026-05-19 | A | 55,150 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| James E. Flynn | Director | 2026-05-19 | A | 55,150 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Jonathan Leff | Director | 2026-05-19 | A | 55,150 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Thomas E. Hamilton | Director | 2026-07-06 | A | 50,000 | 3 | 166,890 | 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 |
|---|---|---|---|---|---|---|---|
| Carole Ben-Maimon | OPTION | — | — | — | — | — | $1,889,160 |
| Michael Celano | PRSU | — | — | — | — | — | 291,280 |
| Gopi Shankar | PRSU | — | — | — | — | — | 167,139 |
| Carole Ben-Maimon | PRSU | — | — | — | — | — | 660,860 |
| Michael Celano | OPTION | — | — | — | — | — | 709,684 |
| Gopi Shankar | OPTION | — | — | — | — | — | 483,839 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Carole Ben-Maimon | $0 | $0 | $1,889,160 | 0.0% |
| Michael Celano | 0 | 0 | 709,684 | 0.0% |
| Gopi Shankar | 0 | 0 | 483,839 | 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 |
|---|---|---|---|---|
| Gopi Shankar | Option | 139,838 | 3.46 | — |
| Carole Ben-Maimon | PSU | 102,500 | — | 390,525 |
| Gopi Shankar | PSU | 16,875 | — | 64,294 |
| Michael Celano | Option | 2,084 | 2.92 | — |
| Carole Ben-Maimon | Option | 88,021 | 4.94 | — |
| Gopi Shankar | Option | 52,500 | 5.88 | — |
| Michael Celano | PSU | 23,437 | — | 89,295 |
| Gopi Shankar | Option | 36,871 | 4.21 | — |
| Carole Ben-Maimon | PSU | 100,000 | — | 381,000 |
| Michael Celano | PSU | 38,000 | — | 144,780 |
| Michael Celano | PSU | 50,000 | — | 190,500 |
| Michael Celano | Option | 97,657 | 4.21 | — |
| Carole Ben-Maimon | PSU | 91,000 | — | 346,710 |
| Carole Ben-Maimon | Option | 206,641 | 4.21 | — |
| Carole Ben-Maimon | Option | 546,000 | 3.46 | — |
| Michael Celano | Option | 205,111 | 3.46 | — |
| Carole Ben-Maimon | Option | 3,792 | 8.75 | — |
| Michael Celano | Option | 32,500 | 4.94 | — |
| Michael Celano | Option | 1,667 | 8.75 | — |
| Carole Ben-Maimon | PSU | 16,532 | — | 62,987 |
| Gopi Shankar | PSU | 23,306 | — | 88,796 |
| Michael Celano | PSU | 34,185 | — | 130,245 |
| Gopi Shankar | PSU | 25,000 | — | 95,250 |
| Carole Ben-Maimon | Option | 4,167 | 2.92 | — |
Consistent with what we believe to be the prevailing market practice for companies in our industry at our stage of development, we have historically used stock options and RSUs to compensate our NEOs in the form of initial new hire grants in connection with the commencement of employment, and thereafter on an annual basis in connection with our annual executive compensation reviews.
| CEO STI target (% of salary) | 55% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Aon |
| Clawback policy | True |
| Anti-hedging | True |
| Anti-pledging | True |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-19 | 73,822,237 | 1,498,429 | 76,010 | 98.01% | Passed |
| 2025 | 2025-05-13 | 49,187,132 | 1,445,631 | 172,688 | 97.14% | Passed |
| 2024 | 2024-05-29 | 48,754,088 | 2,352,496 | 122,896 | 95.4% | Passed |
| 2023 | 2023-05-09 | 35,507,612 | 337,895 | 55,741 | 99.06% | Passed |
| 2022 | 2022-05-10 | 13,936,241 | 49,830 | 774,980 | 99.64% | Passed |
| 2021 | 2021-05-12 | 11,569,538 | 29,764 | 1,125 | 99.74% | 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 | 2026-05-19 | 98.01%a |
| 2025 | 2025-05-13 | 97.14%b |
| 2024 | 2024-05-29 | 95.4%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 |
|---|---|---|---|---|---|---|
| Joseph TruittIndependent · Board Chair · Audit · Compensation (Chair) | $82,500 | $0 | $27,400 | $0 | $0 | $109,900 |
| Frank ThomasIndependent · Audit (Chair) · Compensation | 55,000 | 0 | 27,400 | 0 | 0 | 82,400 |
| Jonathan LeffIndependent · Compensation · Nominating/Governance (Chair) | 47,500 | 0 | 27,400 | 0 | 0 | 74,900 |
| Thomas E. HamiltonIndependent · Audit · Nominating/Governance | 46,250 | 0 | 27,400 | 0 | 0 | 73,650 |
| Jeffrey W. Sherman, M.D., FACPIndependent · Nominating/Governance | 38,750 | 0 | 27,400 | 0 | 0 | 66,150 |
| Carole S. Ben-Maimon, M.DEmployee director | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | $35,000 |
|---|---|
| Annual equity retainer | $27,400 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 15,000 / 10,000 / 7,500 |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $270,000 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $0 |
| Total cost of the board | $270,000 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
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 | Larimar Therapeutics | 2025 | Carole Ben-Maimon | $650,000 | $660,860 | $1,889,160 | $0 | $3,526,423 |
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.
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, Carole Ben-Maimon | DEF 14A | 2026-04-20 | 0001193125-26-163942 | Section “2025 SUMMARY COMPENSATION TABLE” · page 24. As printed: 3,526,423. Filing ↗machine: t90 · r3 · c39 · span 812416–812425 |
| 2 | Section 01, Michael Celano | DEF 14A | 2026-04-20 | 0001193125-26-163942 | Section “2025 SUMMARY COMPENSATION TABLE” · page 24. As printed: 1,697,960. Filing ↗machine: t90 · r5 · c39 · span 845230–845239 |
| 3 | Section 01, Gopi Shankar | DEF 14A | 2026-04-20 | 0001193125-26-163942 | Section “2025 SUMMARY COMPENSATION TABLE” · page 24. As printed: 1,293,329. Filing ↗machine: t90 · r7 · c39 · span 878057–878066 |
| 4 | Section 03, Carole Ben-Maimon OPTION | DEF 14A | 2026-04-20 | 0001193125-26-163942 | Section “SUMMARY COMPENSATION TABLE” · grants of plan-based awards table. Filing ↗machine: t90 · r3 · c28 · span 808163–808172 |
| 5 | Section 03, Michael Celano PRSU | DEF 14A | — | — | Section “Executive Compensation” · grants of plan-based awards table. |
| 6 | Section 03, Gopi Shankar PRSU | DEF 14A | — | 0001193125-26-163942 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗ |
| 7 | Section 03, Carole Ben-Maimon PRSU | DEF 14A | — | 0001193125-26-163942 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗ |
| 8 | Section 03, Michael Celano OPTION | DEF 14A | 2026-04-20 | 0001193125-26-163942 | Section “SUMMARY COMPENSATION TABLE” · grants of plan-based awards table. Filing ↗machine: t90 · r5 · c28 · span 840979–840986 |
| 9 | Section 03, Gopi Shankar OPTION | DEF 14A | 2026-04-20 | 0001193125-26-163942 | Section “SUMMARY COMPENSATION TABLE” · grants of plan-based awards table. Filing ↗machine: t90 · r7 · c28 · span 873806–873813 |
| 10 | Section 07, pay ratio | 10-K | 2026-03-19 | 0001193125-26-115878 | Section “CEO Pay Ratio”. As printed: —. Filing ↗ |
| 11 | Section 08, Joseph Truitt | DEF 14A | 2026-04-20 | 0001193125-26-163942 | Section “Director Compensation”. As printed: 109,900. Filing ↗machine: t73 · r6 · c8 · span 653982–653989 |
| 12 | Section 08, Frank Thomas | DEF 14A | 2026-04-20 | 0001193125-26-163942 | Section “Director Compensation”. As printed: 82,400. Filing ↗machine: t73 · r5 · c8 · span 650017–650023 |
| 13 | Section 08, Jonathan Leff | DEF 14A | 2026-04-20 | 0001193125-26-163942 | Section “Director Compensation”. As printed: 74,900. Filing ↗machine: t73 · r4 · c8 · span 646053–646059 |
| 14 | Section 08, Thomas E. Hamilton | DEF 14A | 2026-04-20 | 0001193125-26-163942 | Section “Director Compensation”. As printed: 73,650. Filing ↗machine: t73 · r3 · c8 · span 642088–642094 |
| 15 | Section 08, Jeffrey W. Sherman, M.D., FACP | DEF 14A | 2026-04-20 | 0001193125-26-163942 | Section “Director Compensation”. As printed: 66,150. Filing ↗machine: t73 · r7 · c8 · span 657965–657971 |
| 16 | Section 08, Carole S. Ben-Maimon, M.D | DEF 14A | 2026-04-20 | 0001193125-26-163942 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 17 | Section 02, Frank Thomas 2026-05-19 | Form 4 | 2026-05-20 | 0001193125-26-232657 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 18 | Section 02, Jeffrey W. Sherman 2026-05-19 | Form 4 | 2026-05-20 | 0001193125-26-232705 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 19 | Section 02, Thomas E. Hamilton 2026-05-19 | Form 4 | 2026-05-20 | 0001193125-26-232644 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 20 | Section 02, Joseph Truitt 2026-05-19 | Form 4 | 2026-05-20 | 0001193125-26-232667 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 21 | Section 02, James E. Flynn 2026-05-19 | Form 4 | 2026-05-20 | 0001193805-26-000669 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 22 | Section 02, Jonathan Leff 2026-05-19 | Form 4 | 2026-05-20 | 0001193125-26-232933 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 23 | Section 02, Thomas E. Hamilton 2026-07-06 | Form 4 | 2026-07-08 | 0001193125-26-298523 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 24 | Section 06, 2026 vote | Form 8-K | 2026-05-19 | 0001193125-26-230852 | Item 5.07 · say-on-pay result. As reported: 98.01% (votes for as printed: 73,822,237). Filing ↗ |
| 25 | Section 06, 2025 vote | Form 8-K | 2025-05-13 | 0000950170-25-070287 | Item 5.07 · say-on-pay result. As reported: 97.14% (votes for as printed: 49,187,132). Filing ↗ |
| 26 | Section 06, 2024 vote | Form 8-K | 2024-05-31 | 0000950170-24-067306 | Item 5.07 · say-on-pay result. As reported: 95.4% (votes for as printed: 48,754,088). Filing ↗ |
| 27 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 28 | 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 |
| 29 | Section 09b board cost (computed) | Computed | — | computed | Cash 270,000 + equity 0 + all other 0 = 270,000, summed across the director compensation table rows.machine: formula: Σ = 270,000 |
| 30 | Larimar Therapeutics (subject), Section 10b CEO total | DEF 14A | 2026-04-20 | 0001193125-26-163942 | CEO total compensation as printed in Larimar Therapeutics's own proxy. As printed: 3,526,423. Filing ↗machine: t90 · r3 · c39 · span 812416–812425 |