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 MBX 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 MBX 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 |
|---|---|---|---|---|---|---|---|---|
| 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 | — | — | — |
| Richard Bartram | 1,496,275 | — | — | — |
| Salomon Azoulay | 1,474,978 | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| 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 | 0 | 0 | Derivative, Class A 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 | D | 55,000 | 38 | 2,110,900 | 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 | A | 15,003 | 16 | 240,048 | Common | Form 4 ↗ |
| Salomon Azoulay | Chief Medical Officer | 2026-05-08 | A | 55,000 | 10 | 575,300 | Common | Form 4 ↗ |
| Steven Ryder | 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 ↗ |
| Patrick J. Heron | 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 | 2026-06-04 | A | 12,500 | 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 ↗ |
| Ora Pescovitz | Director | 2026-06-04 | A | 12,500 | 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 |
|---|---|---|---|---|---|---|---|
| Richard Bartram | OPTION | — | — | — | — | — | $781,147 |
| P. Kent Hawryluk | OPTION | — | — | — | — | — | 1,998,092 |
| Salomon Azoulay | OPTION | — | — | — | — | — | 740,034 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Richard Bartram | $0 | $0 | $781,147 | 0.0% |
| P. Kent Hawryluk | 0 | 0 | 1,998,092 | 0.0% |
| Salomon Azoulay | 0 | 0 | 740,034 | 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 |
| 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.
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, 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 |
| 6 | 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 |
| 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 673268–673275 |
| 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 667278–667285 |
| 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 649316–649323 |
| 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 685236–685243 |
| 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 655307–655314 |
| 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 679254–679261 |
| 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 691217–691224 |
| 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 657146–657152 |
| 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, Steven Ryder 2026-06-04 | Form 4 | 2026-06-05 | 0001193125-26-258422 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 29 | Section 02, Laurie Stelzer 2026-06-04 | Form 4 | 2026-06-05 | 0001193125-26-258432 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 30 | 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 ↗ |
| 31 | 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 ↗ |
| 32 | 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 ↗ |
| 33 | Section 02, Tiba Aynechi 2026-06-04 | Form 4 | 2026-06-05 | 0001193125-26-258420 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 34 | Section 02, Ora Pescovitz 2026-06-04 | Form 4 | 2026-06-05 | 0001193125-26-258436 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 35 | 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 |
| 36 | Section 09b board cost (computed) | Computed | — | computed | Cash 389,730 + equity 0 + all other 0 = 389,730, summed across the director compensation table rows.machine: formula: Σ = 389,730 |
| 37 | 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 |