CEO P. Kent Hawryluk was paid $2,990,867 in fiscal year 2025, ↑ up 33.8% from fiscal year 2024 (SEC filing 0001193125-26-168536 ↗): 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.
$2,990,867 ↑ P. Kent Hawryluk total, FY2025 | — CEO pay percentile vs peers | — CEO-to-median pay ratio | — Say-on-pay support, latest vote |
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MBX's next annual pay disclosure, estimated April 21, 2027.est. Filing ↗
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| P. Kent Hawryluk | $625,000 | $0 | $0 | $1,998,092 | $359,375 | $0 | $8,400 | $2,990,867 |
| President and Chief Executive Officer | ||||||||
| Richard Bartram | 484,000 | 0 | 0 | 781,147 | 222,640 | 0 | 8,488 | 1,496,275 |
| Former Chief Financial Officer | ||||||||
| Salomon Azoulay | 488,500 | 0 | 0 | 740,034 | 235,946 | 0 | 10,498 | 1,474,978 |
| Chief Medical 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 |
|---|---|---|---|---|
| P. Kent Hawryluk | $2,990,867 | $2,235,317 | $4,862,064 | ↑ +755,550 |
| Richard Bartram | 1,496,275 | 1,153,568 | 1,051,106 | ↑ +342,707 |
| Salomon Azoulay | 1,474,978 | 3,095,920 | — | ↓ −1,620,942 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2025 total |
|---|---|---|
| Carl L. Gordon | Former director (through FY2025) | $22,213 |
| Edward T. Mathers | Independent Director | $196,190 |
| James M. Cornelius | Former director (through FY2025) | $197,001 |
| Laurie Stelzer | Independent Director | — |
| Ora Pescovitz | Independent Director | $198,947 |
| Patrick J. Heron | Independent Director | $220,947 |
| Steven L. Hoerter | Chair of the Board | $999,986 |
| Steven Ryder | Independent Director | $194,947 |
| Tiba Aynechi | Independent Director | $200,690 |
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 |
|---|---|---|---|---|---|---|---|---|
| Steven L. Hoerter | Director | 2026-05-01 | A | 74,249 | $0 | $0 | Derivative, Class A Common | Form 4 ↗ |
| Steven L. Hoerter | Director | 2026-05-01 | A | 11,938 | 0 | 0 | RSU | Form 4 ↗ |
| P. Kent Hawryluk | Director | 2026-05-06 | D | 607 | 30 | 17,931 | Common | Form 4 ↗ |
| Salomon Azoulay | Chief Medical Officer | 2026-05-06 | D | 231 | 30 | 6,824 | Common | Form 4 ↗ |
| Salomon Azoulay | Chief Medical Officer | 2026-05-08 | A | 55,000 | 10 | 575,300 | Common | Form 4 ↗ |
| Salomon Azoulay | Chief Medical Officer | 2026-05-08 | D | 15,003 | 38 | 574,615 | Common | Form 4 ↗ |
| Salomon Azoulay | Chief Medical Officer | 2026-05-08 | D | 55,000 | 38 | 2,110,900 | Common | Form 4 ↗ |
| Salomon Azoulay | Chief Medical Officer | 2026-05-08 | A | 15,003 | 16 | 240,048 | Common | Form 4 ↗ |
| Salomon Azoulay | Chief Medical Officer | 2026-05-08 | A | 15,003 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Salomon Azoulay | Chief Medical Officer | 2026-05-08 | A | 55,000 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Tiba Aynechi | Director | 2026-06-04 | A | 12,500 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Steven Ryder | Director | 2026-06-04 | A | 12,500 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Steven L. Hoerter | Director | 2026-06-04 | A | 12,500 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Patrick J. Heron | Director | 2026-06-04 | A | 12,500 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Laurie Stelzer | Director | 2026-06-04 | A | 12,500 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Ora Pescovitz | Director | 2026-06-04 | A | 12,500 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Edward T. Mathers | Director | 2026-06-04 | A | 12,500 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Steven L. Hoerter | Director | 2026-08-03 | A | 331,000 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| John W. Smither | Chief Financial Officer | 2026-08-03 | A | 28,000 | 0 | 0 | Common | Form 4 ↗ |
| Steven L. Hoerter | Director | 2026-08-03 | A | 71,000 | 0 | 0 | Common | Form 4 ↗ |
| John W. Smither | Chief Financial Officer | 2026-08-03 | A | 130,000 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Salomon Azoulay | Chief Medical Officer | 2026-08-04 | D | 370 | 66 | 24,335 | 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 |
|---|---|---|---|---|---|---|---|
| Richard Bartram | OPTION | — | — | — | — | — | $781,147 |
| Salomon Azoulay | OPTION | — | — | — | — | — | 740,034 |
| P. Kent Hawryluk | OPTION | — | — | — | — | — | 1,998,092 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Richard Bartram | $0 | $0 | $781,147 | 0.0% |
| Salomon Azoulay | 0 | 0 | 740,034 | 0.0% |
| P. Kent Hawryluk | 0 | 0 | 1,998,092 | 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 |
|---|---|---|---|---|
| Salomon Azoulay | Option | 30,946 | 16 | — |
| Richard Bartram | Option | 29,273 | 16 | — |
| P. Kent Hawryluk | Option | 82,800 | 16 | — |
| Salomon Azoulay | Option | 155,963 | 10.46 | — |
| Richard Bartram | Option | 95,000 | 10.49 | — |
| P. Kent Hawryluk | Option | 243,000 | 10.49 | — |
| Salomon Azoulay | Option | 90,000 | 10.49 | — |
our compensation programs are designed to encourage our executive officers and other employees to remain focused on both short-term and long-term strategic goals, in particular in connection with our pay-for-performance compensation philosophy
| CEO STI target (% of salary) | 50% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Alpine Rewards |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-04 | — | — | — | — | — |
| 2025 | 2025-06-05 | — | — | — | — | — |
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 | 2026-06-04 | —a |
| 2025 | 2025-06-05 | —b |
a. Voting standard not stated in the filing.
b. 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 |
|---|---|---|---|---|---|---|
| Steven L. HoerterIndependent · Board Chair · Audit · Science and Medicine · Newly elected | $40,477 | $0 | $959,509 | $0 | $0 | $999,986 |
| Patrick J. HeronIndependent · Compensation (Chair) · Nominating and Corporate Governance | 74,000 | 0 | 146,947 | 0 | 0 | 220,947 |
| Tiba AynechiIndependent · Audit · Compensation | 53,743 | 0 | 146,947 | 0 | 0 | 200,690 |
| Ora PescovitzIndependent · Nominating and Corporate Governance (Chair) · Science and Medicine | 52,000 | 0 | 146,947 | 0 | 0 | 198,947 |
| James M. CorneliusIndependent · Audit · Compensation · Not standing for re-election · Departed during FY | 50,054 | 0 | 146,947 | 0 | 0 | 197,001 |
| Edward T. MathersIndependent · Nominating and Corporate Governance · Science and Medicine | 49,243 | 0 | 146,947 | 0 | 0 | 196,190 |
| Steven RyderIndependent · Science and Medicine (Chair) | 48,000 | 0 | 146,947 | 0 | 0 | 194,947 |
| Carl L. GordonIndependent · Audit · Not standing for re-election · Departed during FY | 22,213 | 0 | — | 0 | 0 | 22,213 |
| Laurie StelzerIndependent · Audit (Chair) · Compensation · Newly elected | 0 | 0 | 0 | 0 | 0 | 0 |
| P. Kent HawrylukEmployee director | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | — |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 15,000 / 10,000 |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $389,730 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $0 |
| Total cost of the board | $389,730 |
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 | MBX Biosciences | 2025 | P. Kent Hawryluk | $625,000 | $0 | $1,998,092 | $359,375 | $2,990,867 |
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.
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, P. Kent Hawryluk | DEF 14A | 2026-04-22 | 0001193125-26-168536 | Section “2025 summary compensation table”. As printed: 2,990,867. Filing ↗machine: r2 · c25 · span 347871–347880 |
| 2 | Section 01, Richard Bartram | DEF 14A | 2026-04-22 | 0001193125-26-168536 | Section “2025 summary compensation table”. As printed: 1,496,275. Filing ↗machine: r4 · c25 · span 366793–366802 |
| 3 | Section 01, Salomon Azoulay | DEF 14A | 2026-04-22 | 0001193125-26-168536 | Section “2025 summary compensation table”. As printed: 1,474,978. Filing ↗machine: r6 · c25 · span 385717–385726 |
| 4 | Section 03, Richard Bartram OPTION | DEF 14A | 2026-04-22 | 0001193125-26-168536 | Section “EXECUTI VE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t6 · r4 · c13 · span 362667–362674 |
| 5 | Section 03, Salomon Azoulay OPTION | DEF 14A | 2026-04-22 | 0001193125-26-168536 | Section “EXECUTI VE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t6 · r6 · c13 · span 381590–381597 |
| 6 | Section 03, P. Kent Hawryluk OPTION | DEF 14A | 2026-04-22 | 0001193125-26-168536 | Section “EXECUTI VE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t6 · r2 · c13 · span 343743–343752 |
| 7 | Section 07, pay ratio | 10-K | 2026-03-12 | 0001193125-26-103121 | Section “CEO Pay Ratio”. As printed: —. Filing ↗ |
| 8 | Section 08, Steven L. Hoerter | DEF 14A | 2026-04-22 | 0001193125-26-168536 | Section “Director Compensation”. As printed: 999,986. Filing ↗machine: t10 · r6 · c15 · span 673077–673286 |
| 9 | Section 08, Patrick J. Heron | DEF 14A | 2026-04-22 | 0001193125-26-168536 | Section “Director Compensation”. As printed: 220,947. Filing ↗machine: t10 · r5 · c15 · span 667087–667296 |
| 10 | Section 08, Tiba Aynechi | DEF 14A | 2026-04-22 | 0001193125-26-168536 | Section “Director Compensation”. As printed: 200,690. Filing ↗machine: t10 · r2 · c15 · span 649125–649334 |
| 11 | Section 08, Ora Pescovitz | DEF 14A | 2026-04-22 | 0001193125-26-168536 | Section “Director Compensation”. As printed: 198,947. Filing ↗machine: t10 · r8 · c15 · span 685045–685254 |
| 12 | Section 08, James M. Cornelius | DEF 14A | 2026-04-22 | 0001193125-26-168536 | Section “Director Compensation”. As printed: 197,001. Filing ↗machine: t10 · r3 · c15 · span 655116–655325 |
| 13 | Section 08, Edward T. Mathers | DEF 14A | 2026-04-22 | 0001193125-26-168536 | Section “Director Compensation”. As printed: 196,190. Filing ↗machine: t10 · r7 · c15 · span 679063–679272 |
| 14 | Section 08, Steven Ryder | DEF 14A | 2026-04-22 | 0001193125-26-168536 | Section “Director Compensation”. As printed: 194,947. Filing ↗machine: t10 · r9 · c15 · span 691026–691235 |
| 15 | Section 08, Carl L. Gordon | DEF 14A | 2026-04-22 | 0001193125-26-168536 | Section “Director Compensation”. As printed: 22,213. Filing ↗machine: t10 · r4 · c3 · span 656955–657163 |
| 16 | Section 08, Laurie Stelzer | DEF 14A | 2026-04-22 | 0001193125-26-168536 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 17 | Section 08, P. Kent Hawryluk | DEF 14A | 2026-04-22 | 0001193125-26-168536 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 18 | Section 02, Steven L. Hoerter 2026-05-01 | Form 4 | 2026-05-04 | 0001193125-26-202615 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 19 | Section 02, Steven L. Hoerter 2026-05-01 | Form 4 | 2026-05-04 | 0001193125-26-202615 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 20 | Section 02, P. Kent Hawryluk 2026-05-06 | Form 4 | 2026-05-08 | 0001193125-26-214574 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 21 | Section 02, Salomon Azoulay 2026-05-06 | Form 4 | 2026-05-08 | 0001193125-26-214582 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 22 | Section 02, Salomon Azoulay 2026-05-08 | Form 4 | 2026-05-11 | 0001193125-26-216704 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 23 | Section 02, Salomon Azoulay 2026-05-08 | Form 4 | 2026-05-11 | 0001193125-26-216704 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 24 | Section 02, Salomon Azoulay 2026-05-08 | Form 4 | 2026-05-11 | 0001193125-26-216704 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 25 | Section 02, Salomon Azoulay 2026-05-08 | Form 4 | 2026-05-11 | 0001193125-26-216704 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 26 | Section 02, Salomon Azoulay 2026-05-08 | Form 4 | 2026-05-11 | 0001193125-26-216704 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 27 | Section 02, Salomon Azoulay 2026-05-08 | Form 4 | 2026-05-11 | 0001193125-26-216704 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 28 | Section 02, Tiba Aynechi 2026-06-04 | Form 4 | 2026-06-05 | 0001193125-26-258420 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 29 | Section 02, Steven Ryder 2026-06-04 | Form 4 | 2026-06-05 | 0001193125-26-258422 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 30 | Section 02, Steven L. Hoerter 2026-06-04 | Form 4 | 2026-06-05 | 0001193125-26-258429 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 31 | Section 02, Patrick J. Heron 2026-06-04 | Form 4 | 2026-06-05 | 0001193125-26-258435 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 32 | Section 02, Laurie Stelzer 2026-06-04 | Form 4 | 2026-06-05 | 0001193125-26-258432 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 33 | Section 02, Ora Pescovitz 2026-06-04 | Form 4 | 2026-06-05 | 0001193125-26-258436 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 34 | Section 02, Edward T. Mathers 2026-06-04 | Form 4 | 2026-06-05 | 0001193125-26-259236 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 35 | Section 02, Steven L. Hoerter 2026-08-03 | Form 4 | 2026-08-04 | 0001193125-26-331639 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 36 | Section 02, John W. Smither 2026-08-03 | Form 4 | 2026-08-04 | 0001193125-26-331642 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 37 | Section 02, Steven L. Hoerter 2026-08-03 | Form 4 | 2026-08-04 | 0001193125-26-331639 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 38 | Section 02, John W. Smither 2026-08-03 | Form 4 | 2026-08-04 | 0001193125-26-331642 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 39 | Section 02, Salomon Azoulay 2026-08-04 | Form 4 | 2026-08-05 | 0001193125-26-335373 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 40 | Section 06, 2026 vote | Form 8-K | 2026-06-05 | 0001193125-26-258417 | Item 5.07 · say-on-pay result. As reported: —. Filing ↗ |
| 41 | Section 06, 2025 vote | Form 8-K | 2025-06-06 | 0000950170-25-082697 | Item 5.07 · say-on-pay result. As reported: —. Filing ↗ |
| 42 | 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) |
| 43 | Section 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 |
| 44 | Section 09b board cost (computed) | Computed | — | — | Cash 389,730 + equity 0 + all other 0 = 389,730, summed across the director compensation table rows.machine: formula: Σ = 389,730 |
| 45 | MBX Biosciences (subject), Section 10b CEO total | DEF 14A | 2026-04-22 | 0001193125-26-168536 | CEO total compensation as printed in MBX Biosciences's own proxy. As printed: 2,990,867. Filing ↗machine: r2 · c25 · span 347871–347880 |
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