Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-10-01

Larimar Therapeutics (LRMR)

CEO Carole Ben-Maimon was paid $3,526,423 in fiscal year 2025, ↑ up 40.4% from fiscal year 2024 (SEC filing 0001193125-26-163942 ↗): 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.

$3,526,423 ↑
Carole Ben-Maimon total, FY2025
—
CEO pay percentile vs peers
—
CEO-to-median pay ratio
98.01%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Carole Ben-Maimon (President and Chief Executive Officer), FY2025 total compensation $3,526,423 (base salary $650,000) [exec_comp, SEC accession 0001193125-26-163942, filed 2026-04-20]

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LRMR'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
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 Celano505,000173,720291,280709,6840018,2761,697,960
Chief Financial Officer and Secretary
Gopi Shankar466,003160,305167,139483,8390016,0431,293,329
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.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Carole Ben-Maimon$3,526,423$2,511,649$3,137,431↑ +1,014,774
Michael Celano1,697,9601,384,7051,418,152↑ +313,255
Gopi Shankar1,293,3291,165,126—↑ +128,203

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 LRMR
2 companies name LRMR as a compensation peer

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.

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
Carole Ben-MaimonCEO$3,526,423
Gopi ShankarChief Development Officer$1,293,329
Michael CelanoCFO$1,697,960
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
Frank ThomasIndependent Director$82,400
Jeffrey W. Sherman, M.D., FACPIndependent Director$66,150
Jonathan LeffIndependent Director$74,900
Joseph TruittChair of the Board$109,900
Thomas E. HamiltonIndependent Director$73,650
02

Equity transactions since the proxy statement was filed

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.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Frank ThomasDirector2026-05-19A55,150$0$0Derivative, Class A CommonForm 4 ↗
Thomas E. HamiltonDirector2026-05-19A55,15000Derivative, Class A CommonForm 4 ↗
Jeffrey W. ShermanDirector2026-05-19A55,15000Derivative, Class A CommonForm 4 ↗
Jonathan LeffDirector2026-05-19A55,15000Derivative, Class A CommonForm 4 ↗
James E. FlynnDirector2026-05-19A55,15000Derivative, Class A CommonForm 4 ↗
Joseph TruittDirector2026-05-19A55,15000Derivative, Class A CommonForm 4 ↗
Thomas E. HamiltonDirector2026-07-06A50,0003166,890CommonForm 4 ↗
John B. Harlow Jr.President and COO2026-09-29A800,00000Derivative, Class A CommonForm 4 ↗
John B. Harlow Jr.President and COO2026-09-29A50,00000CommonForm 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.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Carole Ben-MaimonOPTION—————$1,889,160
Michael CelanoPRSU—————291,280
Gopi ShankarPRSU—————167,139
Carole Ben-MaimonPRSU—————660,860
Michael CelanoOPTION—————709,684
Gopi ShankarOPTION—————483,839
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Carole Ben-Maimon$0$0$1,889,1600.0%
Michael Celano00709,6840.0%
Gopi Shankar00483,8390.0%

% 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
Carole Ben-MaimonPSU16,532—$62,987
Carole Ben-MaimonPSU102,500—390,525
Carole Ben-MaimonRSU100,000—381,000
Carole Ben-MaimonPSU91,000—346,710
Michael CelanoRSU50,000—190,500
Michael CelanoPSU38,000—144,780
Michael CelanoPSU34,185—130,245
Gopi ShankarRSU25,000—95,250
Michael CelanoPSU23,437—89,295
Gopi ShankarPSU23,306—88,796
Gopi ShankarPSU16,875—64,294
Carole Ben-MaimonOption3,7928.75—
Carole Ben-MaimonOption4,1672.92—
Carole Ben-MaimonOption88,0214.94—
Carole Ben-MaimonOption206,6414.21—
Carole Ben-MaimonOption546,0003.46—
Michael CelanoOption1,6678.75—
Michael CelanoOption2,0842.92—
Michael CelanoOption32,5004.94—
Michael CelanoOption97,6574.21—
Michael CelanoOption205,1113.46—
Gopi ShankarOption52,5005.88—
Gopi ShankarOption36,8714.21—
Gopi ShankarOption139,8383.46—
05

Incentive-plan design — the Compensation Discussion & Analysis

The Company's compensation philosophy focuses on aligning executive interests with stockholders by making a substantial majority of CEO compensation (approximately 81%) variable and at-risk, linked to the achievement of rigorous, pre-set research, clinical, and regulatory milestones. The program utilizes a mix of stock options, RSUs, and PSUs to incentivize long-term stock price appreciation and retention, ensuring that executives are rewarded only for performance based on key corporate goals.

CEO STI target (% of salary)55%
CEO LTI target (% of salary)—
Independent consultantAon
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-1973,822,2371,498,42976,01098.01%Passed
20252025-05-1349,187,1321,445,631172,68897.14%Passed
20242024-05-2948,754,0882,352,496122,89695.4%Passed
20232023-05-0935,507,612337,89555,74199.06%Passed
20222022-05-1013,936,24149,830774,98099.64%Passed
20212021-05-1211,569,53829,7641,12599.74%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.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-1998.01%a
20252025-05-1397.14%b
20242024-05-2995.4%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.

07

CEO pay ratio

Ratio (CEO : median employee)—
CEO total compensation—
Median employee compensation—
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Joseph TruittIndependent · Board Chair$82,500—$27,400——$109,900
Frank ThomasIndependent55,000—27,400——82,400
Jonathan LeffIndependent · Compensation · Nominating/Governance (Chair)47,500—27,400——74,900
Thomas E. HamiltonIndependent · Audit46,250—27,400——73,650
Jeffrey W. Sherman, M.D., FACPIndependent · B OARD · NCGC38,750—27,400——66,150
Carole S. Ben-Maimon, M.DEmployee director—————0
09

Board fee structure and ownership guideline

Annual cash retainer$35,000
Annual equity retainer—
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)15,000 / 10,000 / 7,500
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2025
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.

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
1Larimar Therapeutics2025Carole 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.

10d

Frequently asked questions

Who was the highest-paid executive at Larimar Therapeutics in fiscal 2025?
As disclosed, Carole Ben-Maimon (President and Chief Executive Officer) was the highest-paid executive at Larimar Therapeutics in fiscal 2025, with total compensation of $3,526,423.
How did shareholders vote on Larimar Therapeutics's executive compensation?
As disclosed, 98.01% of shareholders supported Larimar Therapeutics's executive compensation in the latest say-on-pay vote.
How much does Larimar Therapeutics spend in total on board compensation for fiscal 2025?
As disclosed, Larimar Therapeutics reported total board compensation of $270,000 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, Carole Ben-MaimonDEF 14A2026-04-200001193125-26-163942Section “2025 SUMMARY COMPENSATION TABLE” · page 24. As printed: 3,526,423. Filing ↗machine: t90 · r3 · c39 · span 812416–812425
2Section 01, Michael CelanoDEF 14A2026-04-200001193125-26-163942Section “2025 SUMMARY COMPENSATION TABLE” · page 24. As printed: 1,697,960. Filing ↗machine: t90 · r5 · c39 · span 845230–845239
3Section 01, Gopi ShankarDEF 14A2026-04-200001193125-26-163942Section “2025 SUMMARY COMPENSATION TABLE” · page 24. As printed: 1,293,329. Filing ↗machine: t90 · r7 · c39 · span 878057–878066
4Section 03, Carole Ben-Maimon OPTIONDEF 14A2026-04-200001193125-26-163942Section “SUMMARY COMPENSATION TABLE” · grants of plan-based awards table. Filing ↗machine: t90 · r3 · c28 · span 808163–808172
5Section 03, Michael Celano PRSUDEF 14A——Section “Executive Compensation” · grants of plan-based awards table.
6Section 03, Gopi Shankar PRSUDEF 14A—0001193125-26-163942Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
7Section 03, Carole Ben-Maimon PRSUDEF 14A—0001193125-26-163942Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
8Section 03, Michael Celano OPTIONDEF 14A2026-04-200001193125-26-163942Section “SUMMARY COMPENSATION TABLE” · grants of plan-based awards table. Filing ↗machine: t90 · r5 · c28 · span 840979–840986
9Section 03, Gopi Shankar OPTIONDEF 14A2026-04-200001193125-26-163942Section “SUMMARY COMPENSATION TABLE” · grants of plan-based awards table. Filing ↗machine: t90 · r7 · c28 · span 873806–873813
10Section 07, pay ratio10-K2026-03-190001193125-26-115878Section “CEO Pay Ratio”. As printed: —. Filing ↗
11Section 08, Joseph TruittDEF 14A2026-04-200001193125-26-163942Section “Director Compensation”. As printed: 109,900. Filing ↗
12Section 08, Frank ThomasDEF 14A2026-04-200001193125-26-163942Section “Director Compensation”. As printed: 82,400. Filing ↗
13Section 08, Jonathan LeffDEF 14A2026-04-200001193125-26-163942Section “Director Compensation”. As printed: 74,900. Filing ↗
14Section 08, Thomas E. HamiltonDEF 14A2026-04-200001193125-26-163942Section “Director Compensation”. As printed: 73,650. Filing ↗
15Section 08, Jeffrey W. Sherman, M.D., FACPDEF 14A2026-04-200001193125-26-163942Section “Director Compensation”. As printed: 66,150. Filing ↗
16Section 08, Carole S. Ben-Maimon, M.DDEF 14A2026-04-200001193125-26-163942Section “Director Compensation”. As printed: 0. Filing ↗
17Section 02, Frank Thomas 2026-05-19Form 42026-05-200001193125-26-232657Insider equity transaction reported since the proxy statement. Filing ↗
18Section 02, Thomas E. Hamilton 2026-05-19Form 42026-05-200001193125-26-232644Insider equity transaction reported since the proxy statement. Filing ↗
19Section 02, Jeffrey W. Sherman 2026-05-19Form 42026-05-200001193125-26-232705Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, Jonathan Leff 2026-05-19Form 42026-05-200001193125-26-232933Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, James E. Flynn 2026-05-19Form 42026-05-200001193805-26-000669Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Joseph Truitt 2026-05-19Form 42026-05-200001193125-26-232667Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Thomas E. Hamilton 2026-07-06Form 42026-07-080001193125-26-298523Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, John B. Harlow Jr. 2026-09-29Form 42026-10-010001193125-26-410719Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, John B. Harlow Jr. 2026-09-29Form 42026-10-010001193125-26-410719Insider equity transaction reported since the proxy statement. Filing ↗
26Section 06, 2026 voteForm 8-K2026-05-190001193125-26-230852Item 5.07 · say-on-pay result. As reported: 98.01% (votes for as printed: 73,822,237). Filing ↗
27Section 06, 2025 voteForm 8-K2025-05-130000950170-25-070287Item 5.07 · say-on-pay result. As reported: 97.14% (votes for as printed: 49,187,132). Filing ↗
28Section 06, 2024 voteForm 8-K2024-05-310000950170-24-067306Item 5.07 · say-on-pay result. As reported: 95.4% (votes for as printed: 48,754,088). Filing ↗
29Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
30Section 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
31Section 09b board cost (computed)Computed——Cash 270,000 + equity 0 + all other 0 = 270,000, summed across the director compensation table rows.machine: formula: Σ = 270,000
32Larimar Therapeutics (subject), Section 10b CEO totalDEF 14A2026-04-200001193125-26-163942CEO total compensation as printed in Larimar Therapeutics's own proxy. As printed: 3,526,423. Filing ↗machine: t90 · r3 · c39 · span 812416–812425

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