Companies MoonLake Immunotherapeutics
MoonLake Immunotherapeutics (MLTX): executive pay, fiscal 2025
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CEO pay, last three years
- $1,198,215FY2023
- $1,406,038FY2024
- $4,943,209FY2025
CEO total pay was $4,943,209 in fiscal 2025, up from $1,406,038 in fiscal 2024.
FY2025: salary $762,386 · bonus $0 · stock awards $4,000,021 · option awards $0
Executives and directors
Frequently asked questions
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.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Jorge Santos da Silva | $762,386 | $0 | $4,000,021 | $0 | $0 | $155,880 | $24,922 | $4,943,209 |
| Chief Executive Officer; Interim Chair of the Board | ||||||||
| Kristian Reich | 762,386 | 0 | 0 | 4,000,021 | 0 | 0 | 33,086 | 4,795,493 |
| Chief Scientific Officer | ||||||||
| Matthias Bodenstedt | 603,555 | 0 | 4,000,021 | 0 | 0 | 66,023 | 22,977 | 4,692,576 |
| Chief Financial 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 officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Jorge Santos da Silva | $4,943,209 | $1,406,038 | $1,198,215 | ↑ +3,537,171 |
| Kristian Reich | 4,795,493 | 1,302,939 | 1,230,904 | ↑ +3,492,554 |
| Matthias Bodenstedt | 4,692,576 | 1,032,555 | 891,597 | ↑ +3,660,021 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
Our executive officer compensation program focuses on attracting, retaining and rewarding executive officers in order to promote our long-term success. In setting compensation levels and designing the elements of our program, we seek to establish overall compensation levels that are internally equitable and competitive with the talent market.
| CEO STI target (% of salary) | 55% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Deloitte |
| Clawback policy | True |
| Anti-hedging | True |
| Anti-pledging | True |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Dr. Jorge Santos da Silva | RSU | 2025-02-27 | — | — | 95,763 | — | $4,000,021 |
| Matthias Bodenstedt | RSU | 2025-02-27 | — | — | 95,763 | — | 4,000,021 |
| Kristian Reich | OPTION | 2025-02-27 | — | — | 139,273 | — | 4,000,021 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Dr. Jorge Santos da Silva | $4,000,021 | $0 | $0 | 0.0% |
| Matthias Bodenstedt | 4,000,021 | 0 | 0 | 0.0% |
| Kristian Reich | 0 | 0 | 4,000,021 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Santos da Silva | RSU | 7,401 | — | $97,545 |
| Kristian Reich | RSU | 7,401 | — | 97,545 |
| Matthias Bodenstedt | RSU | 11,101 | — | 146,311 |
| Santos da Silva | RSU | 95,763 | — | 1,262,156 |
| Matthias Bodenstedt | RSU | 95,763 | — | 1,262,156 |
| Kristian Reich | Option | 139,273 | 41.77 | — |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Simon SturgeIndependent · Not standing for re-election · Departed during FY | $90,500 | $0 | $224,349 | — | $0 | $314,849 |
| Dr. Ramnik XavierIndependent | 75,000 | 0 | 224,349 | — | 0 | 299,349 |
| Catherine MoukheibirIndependent · Audit (Chair) · Compensation | 62,500 | 0 | 224,349 | — | 0 | 286,849 |
| Dr. Andrew PhillipsIndependent · Audit · Compensation (Chair) · Nominating/Governance (Chair) | 56,000 | 0 | 224,349 | — | 0 | 280,349 |
| Spike LoyIndependent · Lead Independent Director · Audit · Compensation · Nominating/Governance | 52,500 | 0 | 224,349 | — | 0 | 276,849 |
| Dr. Jorge Santos da SilvaEmployee director · Board Chair | 0 | 0 | 0 | — | 0 | 0 |
Board fee structure and ownership guideline
| Annual cash retainer | $40,000 |
|---|---|
| Annual equity retainer | $224,349 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 17,500 / 12,000 / 8,000 |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $336,500 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $0 |
| Total cost of the board | $336,500 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names MoonLake Immunotherapeutics as a peer
Companies that benchmark against MLTX
2 companies name MLTX as a compensation peer
- LIGAND PHARMACEUTICALS INCLGNDFY2025
- Roivant Sciences Ltd.ROIVFY2025
Each company listed discloses MLTX 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 MLTX in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
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.
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.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Summit Therapeutics | 2025 | Mahkam Zanganeh | $616,500 | $0 | $245,021,384 | $0 | $246,047,279 |
| 2 | Immunovant | 2026 | Eric Venker | 636,618 | 0 | 19,010,639 | 0 | 20,158,767 |
| 3 | Protagonist Therapeutics | 2025 | Dinesh Patel | 715,500 | 5,839,204 | 5,618,010 | 686,880 | 12,871,506 |
| 4 | Vera Therapeutics | 2025 | Marshall Fordyce | 660,000 | 2,356,285 | 3,415,725 | 554,400 | 6,986,410 |
| 5 | Bicycle Therapeutics | 2025 | Kevin Lee | 862,339 | 1,724,800 | 2,961,297 | 543,642 | 6,341,473 |
| 6 | MoonLake Immunotherapeutics | 2025 | Jorge Santos da Silva | 762,386 | 4,000,021 | 0 | 0 | 4,943,209 |
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.
Incentive design against the same peers
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| MoonLake Immunotherapeutics | not disclosed | not disclosed | not disclosed | Deloitte |
| Bicycle Therapeutics | 97% | not disclosed | not disclosed | not disclosed |
| Immunovant | 110% | not disclosed | No | Compensia |
| Protagonist Therapeutics | 160% | Options 50 · RSU 50 | not disclosed | Aon Human Capital Solutions |
| Summit Therapeutics | 105% | Options 100 | not disclosed | not disclosed |
| Vera Therapeutics | not disclosed | RSU 50 · Options 50 | not disclosed | Alpine Rewards |
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.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-09 | 50,365,168 | 731,158 | 15,038 | 98.57% | Passed |
| 2025 | 2025-06-05 | 53,464,199 | 109,913 | 8,983 | 99.79% | Passed |
| 2024 | 2024-06-05 | 54,721,123 | 5,234 | 7,988 | 99.99% | 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 year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2026 | 2026-06-09 | 98.57%a |
| 2025 | 2025-06-05 | 99.79%b |
| 2024 | 2024-06-05 | 99.99%c |
a. Approved under the standard stated in the filing — “Broker non-votes, if any, and abstentions will not be counted as votes cast on these matters and will have no effect on the outcome of these matters.”.
b. Approved under the standard stated in the filing — “Broker non-votes, if any, and abstentions will not be counted as votes cast on these matters and will have no effect on the outcome of these matters.”.
c. Approved under the standard stated in the filing — “Broker non-votes, if any, and abstentions will not be counted as votes cast on these matters and will have no effect on the outcome of these matters.”.
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.
CEO pay ratio
| Ratio (CEO : median employee) | 20.8 : 1 |
|---|---|
| CEO total compensation | $4,943,209 |
| Median employee compensation | $237,155 |
Insider trades since the proxy
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 |
|---|---|---|---|---|---|---|---|---|
| Matthias Bodenstedt | Chief Financial Officer | 2026-05-11 | D | 13,653 | $20 | $273,333 | Common, open-market sale | Form 4 ↗ |
| Kristian Reich | Chief Scientific Officer | 2026-06-15 | D | 50,000 | 19 | 944,500 | Common, open-market sale | Form 4 ↗ |
| Kristian Reich | Chief Scientific Officer | 2026-06-16 | D | 50,000 | 19 | 935,000 | Common, open-market sale | Form 4 ↗ |
| Dr. Ramnik Xavier | Director | 2026-06-17 | A | 22,195 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Kristian Reich | Chief Scientific Officer | 2026-06-17 | D | 50,000 | 19 | 971,500 | Common, open-market sale | Form 4 ↗ |
| Matthias Bodenstedt | Chief Financial Officer | 2026-06-17 | D | 15,082 | 20 | 296,814 | Common, open-market sale | Form 4 ↗ |
| Dr. Andrew Phillips | Director | 2026-06-17 | A | 22,195 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| BVF PARTNERS L P/IL | Director | 2026-06-17 | A | 22,195 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Catherine Moukheibir | Director | 2026-06-17 | A | 22,195 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Spike Loy | Director | 2026-06-17 | A | 22,195 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Matthias Bodenstedt | Chief Financial Officer | 2026-06-18 | D | 2,794 | 20 | 54,762 | Common, open-market sale | Form 4 ↗ |
| Matthias Bodenstedt | Chief Financial Officer | 2026-06-22 | D | 39,120 | 22 | 862,205 | Common, open-market sale | Form 4 ↗ |
| Santos da Silva Jorge | Director | 2026-07-01 | D | 47,775 | 20 | 956,933 | Common, open-market sale | Form 4 ↗ |
| Santos da Silva Jorge | Director | 2026-07-09 | D | 33,936 | 20 | 679,059 | Common, open-market sale | Form 4 ↗ |
| Santos da Silva Jorge | Director | 2026-07-10 | D | 68,289 | 20 | 1,367,146 | Common, open-market sale | Form 4 ↗ |
| Kristian Reich | Chief Scientific Officer | 2026-07-15 | D | 16,105 | 20 | 322,261 | Common, open-market sale | Form 4 ↗ |
| Kristian Reich | Chief Scientific Officer | 2026-07-20 | D | 43,700 | 20 | 877,933 | Common, open-market sale | Form 4 ↗ |
| Kristian Reich | Chief Scientific Officer | 2026-07-21 | D | 50,000 | 20 | 1,001,000 | Common, open-market sale | Form 4 ↗ |
| Kristian Reich | Chief Scientific Officer | 2026-07-22 | D | 2,448 | 20 | 48,960 | Common | Form 4 ↗ |
| Kristian Reich | Chief Scientific Officer | 2026-07-27 | D | 1,100 | 20 | 22,000 | 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.
Sources (45 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Jorge Santos da Silva. DEF 14A, filed 2026-04-21. Section “2025 Summary Compensation Table” · page 30. As printed: 4,943,209. View filing ↗
- Section 01, Kristian Reich. DEF 14A, filed 2026-04-21. Section “2025 Summary Compensation Table” · page 30. As printed: 4,795,493. View filing ↗
- Section 01, Matthias Bodenstedt. DEF 14A, filed 2026-04-21. Section “2025 Summary Compensation Table” · page 30. As printed: 4,692,576. View filing ↗
- Section 03, Dr. Jorge Santos da Silva RSU. DEF 14A, filed 2026-04-21. Section “TABLE OF CONTENTS EXECUTIVE COMPENSATION COMPENSATION DISCUSSION AND ANALYSIS” · grants of plan-based awards table. View filing ↗
- Section 03, Matthias Bodenstedt RSU. DEF 14A, filed 2026-04-21. Section “2025 Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, Kristian Reich OPTION. DEF 14A, filed 2026-04-21. Section “TABLE OF CONTENTS EXECUTIVE COMPENSATION COMPENSATION DISCUSSION AND ANALYSIS” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-04-21. Section “CEO Pay Ratio”. As printed: 20.8 : 1. View filing ↗
- Section 08, Simon Sturge. DEF 14A, filed 2026-04-21. Section “Director Compensation”. As printed: 314,849. View filing ↗
- Section 08, Dr. Ramnik Xavier. DEF 14A, filed 2026-04-21. Section “Director Compensation”. As printed: 299,349. View filing ↗
- Section 08, Catherine Moukheibir. DEF 14A, filed 2026-04-21. Section “Director Compensation”. As printed: 286,849. View filing ↗
- Section 08, Dr. Andrew Phillips. DEF 14A, filed 2026-04-21. Section “Director Compensation”. As printed: 280,349. View filing ↗
- Section 08, Spike Loy. DEF 14A, filed 2026-04-21. Section “Director Compensation”. As printed: 276,849. View filing ↗
- Section 08, Dr. Jorge Santos da Silva. DEF 14A, filed 2026-04-21. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 02, Matthias Bodenstedt 2026-05-11. Form 4, filed 2026-05-13. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Kristian Reich 2026-06-15. Form 4, filed 2026-06-17. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Kristian Reich 2026-06-16. Form 4, filed 2026-06-17. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Dr. Ramnik Xavier 2026-06-17. Form 4, filed 2026-06-18. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Kristian Reich 2026-06-17. Form 4, filed 2026-06-17. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Matthias Bodenstedt 2026-06-17. Form 4, filed 2026-06-18. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Dr. Andrew Phillips 2026-06-17. Form 4, filed 2026-06-18. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, BVF PARTNERS L P/IL 2026-06-17. Form 4, filed 2026-06-22. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Catherine Moukheibir 2026-06-17. Form 4, filed 2026-06-18. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Spike Loy 2026-06-17. Form 4, filed 2026-06-18. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Matthias Bodenstedt 2026-06-18. Form 4, filed 2026-06-18. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Matthias Bodenstedt 2026-06-22. Form 4, filed 2026-06-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Santos da Silva Jorge 2026-07-01. Form 4, filed 2026-07-02. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Santos da Silva Jorge 2026-07-09. Form 4, filed 2026-07-13. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Santos da Silva Jorge 2026-07-10. Form 4, filed 2026-07-13. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Kristian Reich 2026-07-15. Form 4, filed 2026-07-20. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Kristian Reich 2026-07-20. Form 4, filed 2026-07-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Kristian Reich 2026-07-21. Form 4, filed 2026-07-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Kristian Reich 2026-07-22. Form 4, filed 2026-07-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Kristian Reich 2026-07-27. Form 4, filed 2026-07-29. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-06-09. Item 5.07 · say-on-pay result. As reported: 98.57% (votes for as printed: 50,365,168). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-06-06. Item 5.07 · say-on-pay result. As reported: 99.79% (votes for as printed: 53,464,199). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-06-06. Item 5.07 · say-on-pay result. As reported: 99.99% (votes for as printed: 54,721,123). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- 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).
- Section 09b board cost (computed). Computed. Cash 336,500 + equity 0 + all other 0 = 336,500, summed across the director compensation table rows.
- Summit Therapeutics, Section 10b CEO total. DEF 14A, filed 2026-04-17. CEO total compensation as printed in Summit Therapeutics's own proxy. As printed: 246,047,279. View filing ↗
- Immunovant, Section 10b CEO total. DEF 14A, filed 2026-07-22. CEO total compensation as printed in Immunovant's own proxy. As printed: 20,158,767. View filing ↗
- Protagonist Therapeutics, Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in Protagonist Therapeutics's own proxy. As printed: 12,871,506. View filing ↗
- Vera Therapeutics, Section 10b CEO total. DEF 14A, filed 2026-04-09. CEO total compensation as printed in Vera Therapeutics's own proxy. As printed: 6,986,410. View filing ↗
- Bicycle Therapeutics, Section 10b CEO total. DEF 14A, filed 2026-04-22. CEO total compensation as printed in Bicycle Therapeutics's own proxy. As printed: 6,341,473. View filing ↗
- MoonLake Immunotherapeutics (subject), Section 10b CEO total. DEF 14A, filed 2026-04-21. CEO total compensation as printed in MoonLake Immunotherapeutics's own proxy. As printed: 4,943,209. View filing ↗