Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-24

Nektar Therapeutics (NKTR)

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.

$6,256,954
Howard Robin total, FY2025
58th
CEO pay percentile vs peers
CEO-to-median pay ratio
99.12%
Say-on-pay support, latest vote
Companies that benchmark against NKTR
5 companies name NKTR as a compensation peer

Each company listed discloses NKTR 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 NKTR in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Howard Robin$1,106,282$0$942,081$2,986,535$1,106,282$0$115,774$6,256,954
President and Chief Executive Officer
Jonathan Zalevsky717,5600271,750861,497452,000017,5512,320,358
Chief Research and Development Officer
Sandra Gardiner000000686,400686,400
Interim Chief Financial Officer
Mark Wilson645,9500000021,951667,901
Former Chief Legal 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 FY20242025
Howard Robin$6,256,954$3,762,693$3,135,576+2,494,261
Jonathan Zalevsky2,320,3581,611,6201,773,364+708,738
Sandra Gardiner686,400460,850376,300+225,550
Mark Wilson667,9011,297,3271,100,468−629,426

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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
Howard W. RobinDirector2026-05-19D444$66$29,086Common, open-market saleForm 4 ↗
Jonathan ZalevskyChief R&D Officer2026-05-19D1996613,036Common, open-market saleForm 4 ↗
Jonathan ZalevskyChief R&D Officer2026-06-15D5,53861336,212Common, open-market saleForm 4 ↗
Howard W. RobinDirector2026-06-16D5,30360318,021Common, open-market saleForm 4 ↗
Howard W. RobinDirector2026-06-16D4,50062277,425Common, open-market saleForm 4 ↗
Howard W. RobinDirector2026-06-16D4,69761285,155Common, open-market saleForm 4 ↗
Howard W. RobinDirector2026-06-16D5,50061334,455Common, open-market saleForm 4 ↗
Jonathan ZalevskyChief R&D Officer2026-06-30D5,68170397,670CommonForm 4 ↗
Jonathan ZalevskyChief R&D Officer2026-07-24A16,50000Derivative, Class A CommonForm 4 ↗
Howard W. RobinDirector2026-07-24A57,20000Derivative, Class A CommonForm 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
Jonathan ZalevskyRSU2025-12-226,250$271,750
Howard RobinRSU2025-12-2221,667942,081
Howard RobinOPTION2025-12-2286,6672,986,535
Jonathan ZalevskyOPTION2025-12-2225,000861,497
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Jonathan Zalevsky$271,750$0$861,4970.0%
Howard Robin942,08102,986,5350.0%

% 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
Jonathan ZalevskyOption5,5687.48
Jonathan ZalevskyRSU6,250264,250
Howard RobinRSU21,667916,081
Jonathan ZalevskyPSU6,250264,250
Mark WilsonOption2,386326.85
Howard RobinPSU21,667916,081
Jonathan ZalevskyOption6,266198.3
Howard RobinOption54,75073.65
Mark WilsonOption4,476198.3
Howard RobinOption86,66615.15
Jonathan ZalevskyPSU3,530149,248
Howard RobinOption2,973326.85
Jonathan ZalevskyOption18,76015.15
Howard RobinOption86,66743.48
Howard RobinPSU8,403355,279
Jonathan ZalevskyOption10,000276.45
Howard RobinOption28,8987.48
Howard RobinOption65,00615.15
Jonathan ZalevskyOption25,00015.15
Mark WilsonOption14,4247.48
Mark WilsonOption5,41215.15
Howard RobinOption11,176326.85
Howard RobinOption12,710281.25
Howard RobinOption14,916198.3
Mark WilsonOption773326.85
Mark WilsonOption3,400281.25
Mark WilsonOption22,12573.65
Jonathan ZalevskyOption4,770326.85
Jonathan ZalevskyOption1,340326.85
Jonathan ZalevskyOption18,00073.64
Jonathan ZalevskyOption25,00043.48
Jonathan ZalevskyOption4,766281.25
05

Incentive-plan design — the Compensation Discussion & Analysis

The objective of our executive compensation program is to deliver compensation above industry median for exceptional performance and deliver compensation below the median in performance periods where the Company does not perform well.

CEO STI target (% of salary)100%
CEO LTI target (% of salary)
Independent consultantAon
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-0418,154,226161,005111,11199.12%Passed
20252025-05-2396,965,6114,097,4491,090,72295.95%Passed
20242024-06-0587,037,1786,730,7486,227,90592.82%Passed
20232023-06-08114,458,62019,391,723787,26985.01%Passed
20222022-06-08130,982,07626,344,578311,57083.09%Passed
20212021-06-10151,749,6995,030,154175,46296.68%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
20262026-06-0499.12%a
20252025-05-2395.95%b
20242024-06-0592.82%c

a. Approved under the standard stated in the filing — “Abstentions and broker non-votes, if any, will have no effect on the outcome of the vote on this proposal.”.

b. Approved under the standard stated in the filing — “Abstentions and broker non-votes, if any, will have no effect on the outcome of the vote on this proposal.”.

c. Approved under the standard stated in the filing — “Abstentions and broker non-votes, if any, will have no effect on the outcome of the vote on this proposal.”.

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
Robert B. ChessIndependent · Board Chair$130,500$0$358,876$0$489,376
Roy A. WhitfieldIndependent · Lead Independent Director · Audit · Nominating and Corporate Governance (Chair)112,0000358,8760470,876
R. Scott GreerIndependent · Audit (Chair) · Organization and Compensation · Nominating and Corporate Governance106,7500358,8760465,626
Diana Brainard, M.DIndependent · Organization and Compensation (Chair) · Nominating and Corporate Governance86,7500358,8760445,626
Jeff AjerIndependent · Audit · Organization and Compensation82,0000358,8760440,876
Howard W. RobinEmployee director000000
09

Board fee structure and ownership guideline

Annual cash retainer$55,000
Annual equity retainer
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)25,000 / 20,000 / 15,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$518,000
Equity awards (grant-date value)$0
All other compensation$0
Total cost of the board$518,000

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

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.

10a

Peer reciprocity

Of the companies Nektar Therapeutics names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Nektar Therapeutics.

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
1Arcus Biosciences2025Terry Rosen$775,000$2,199,450$6,008,860$658,750$9,656,813
2IDEAYA Biosciences2025Yujiro Hata700,00008,418,840378,0009,512,640
3Vera Therapeutics2025Marshall Fordyce660,0002,356,2853,415,725554,4006,986,410
4Viridian Therapeutics2025Stephen Mahoney700,0001,058,0984,381,713630,0006,776,249
5Astria Therapeutics2024Jill Milne637,86805,637,078318,9346,604,416
6Nektar Therapeutics2025Howard Robin1,106,282942,0812,986,5351,106,2826,256,954
7Celldex Therapeutics2025Anthony Marucci785,80404,027,59005,366,709
8Intellia Therapeutics2025John Leonard708,0002,443,9201,356,32005,063,899
9Relay Therapeutics2025Sanjiv Patel707,84603,513,900424,7084,646,454
10Olema Pharmaceuticals2025Sean Bohen699,92002,002,000461,9003,178,990
11Rezolute2025Nevan Charles Elam610,8251,767,204002,851,109
12Amylyx Pharmaceuticals2025Justin Klee686,200650,226817,783548,0982,719,807
13Kodiak Sciences2025Victor Perlroth792,4970923,032772,8242,499,221
Compass Therapeuticsnot in coverage universe
Corvus Pharmaceuticalsnot in coverage universe
Dianthus Therapeuticsnot in coverage universe
Praxis Precision Medicinesnot in coverage universe

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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Nektar Therapeutics100%not disclosedNoAon
Amylyx Pharmaceuticals106.5%not disclosedNoPearl Meyer
Arcus Biosciences100%Options 67 · RSU 33not disclosedRadford
Astria Therapeuticsnot disclosedOptions 100not disclosedAon
Celldex Therapeutics100%Options 100not disclosedAon (Human Capital Solutions practice, a division of Aon plc)
Compass Therapeuticsnot disclosednot disclosednot disclosednot disclosed
Corvus Pharmaceuticalsnot disclosednot disclosednot disclosednot disclosed
Dianthus Therapeuticsnot disclosednot disclosednot disclosednot disclosed
IDEAYA Biosciences90%Options 100not disclosedAon (Aon plc, Talent Solutions practice)
Intellia Therapeutics115%Options 40 · RSU 40 · PSU 20Yes — TSR relative to the Nasdaq Biotechnology IndexAlpine Rewards, LLC
Kodiak Sciences150%Options 100not disclosedCompensia, Inc.
Olema Pharmaceuticals110%Options 100not disclosedAon
Praxis Precision Medicinesnot disclosednot disclosednot disclosednot disclosed
Relay Therapeutics100%Option 100not disclosedAon's Human Capital Solutions practice, a division of Aon plc
Rezolutenot disclosednot disclosednot disclosednot disclosed
Vera Therapeutics140%RSU 50 · Options 50not disclosedAlpine Rewards
Viridian Therapeutics150%Options 75 · RSU 25not disclosedCompensia

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.

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, Howard RobinDEF 14A2026-04-240001140361-26-016708Section “SUMMARY COMPENSATION TABLE—FISCAL 2023-2025” · page 57. As printed: 6,256,954. Filing ↗machine: r2 · c24 · span 738327–738336
2Section 01, Jonathan ZalevskyDEF 14A2026-04-240001140361-26-016708Section “SUMMARY COMPENSATION TABLE—FISCAL 2023-2025” · page 57. As printed: 2,320,358. Filing ↗machine: r14 · c24 · span 791458–791467
3Section 01, Sandra GardinerDEF 14A2026-04-240001140361-26-016708Section “SUMMARY COMPENSATION TABLE—FISCAL 2023-2025” · page 57. As printed: 686,400. Filing ↗machine: r6 · c24 · span 755378–755385
4Section 01, Mark WilsonDEF 14A2026-04-240001140361-26-016708Section “SUMMARY COMPENSATION TABLE—FISCAL 2023-2025” · page 57. As printed: 667,901. Filing ↗machine: r10 · c24 · span 773462–773469
5Section 03, Jonathan Zalevsky RSUDEF 14A2026-04-240001140361-26-016708Section “GRANTS OF PLAN BASED AWARDS IN 2025” · grants of plan-based awards table. Filing ↗machine: t201 · r4 · c6 · span 677155–677160
6Section 03, Howard Robin RSUDEF 14A2026-04-240001140361-26-016708Section “GRANTS OF PLAN BASED AWARDS IN 2025” · grants of plan-based awards table. Filing ↗machine: t201 · r3 · c6 · span 675357–675363
7Section 03, Howard Robin OPTIONDEF 14A2026-04-240001140361-26-016708Section “GRANTS OF PLAN BASED AWARDS IN 2025” · grants of plan-based awards table. Filing ↗machine: t201 · r3 · c3 · span 674805–674811
8Section 03, Jonathan Zalevsky OPTIONDEF 14A2026-04-240001140361-26-016708Section “GRANTS OF PLAN BASED AWARDS IN 2025” · grants of plan-based awards table. Filing ↗machine: t201 · r4 · c3 · span 676675–676681
9Section 07, pay ratio10-K2026-03-130001193125-26-104547Section “CEO Pay Ratio”. As printed: —. Filing ↗
10Section 08, Robert B. ChessDEF 14A2026-04-240001140361-26-016708Section “Director Compensation”. As printed: 489,376. Filing ↗machine: t142 · r4 · c15 · span 425764–425771
11Section 08, Roy A. WhitfieldDEF 14A2026-04-240001140361-26-016708Section “Director Compensation”. As printed: 470,876. Filing ↗machine: t142 · r6 · c15 · span 431445–431452
12Section 08, R. Scott GreerDEF 14A2026-04-240001140361-26-016708Section “Director Compensation”. As printed: 465,626. Filing ↗machine: t142 · r5 · c15 · span 428438–428445
13Section 08, Diana Brainard, M.DDEF 14A2026-04-240001140361-26-016708Section “Director Compensation”. As printed: 445,626. Filing ↗machine: t142 · r3 · c15 · span 422660–422667
14Section 08, Jeff AjerDEF 14A2026-04-240001140361-26-016708Section “Director Compensation”. As printed: 440,876. Filing ↗machine: t142 · r2 · c15 · span 419941–419948
15Section 08, Howard W. RobinDEF 14A2026-04-240001140361-26-016708Section “Director Compensation”. As printed: 0. Filing ↗
16Section 02, Howard W. Robin 2026-05-19Form 42026-05-210001193125-26-235027Insider equity transaction reported since the proxy statement. Filing ↗
17Section 02, Jonathan Zalevsky 2026-05-19Form 42026-05-210001193125-26-235030Insider equity transaction reported since the proxy statement. Filing ↗
18Section 02, Jonathan Zalevsky 2026-06-15Form 42026-06-170001193125-26-274534Insider equity transaction reported since the proxy statement. Filing ↗
19Section 02, Howard W. Robin 2026-06-16Form 42026-06-180001193125-26-276236Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, Howard W. Robin 2026-06-16Form 42026-06-180001193125-26-276236Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, Howard W. Robin 2026-06-16Form 42026-06-180001193125-26-276236Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Howard W. Robin 2026-06-16Form 42026-06-180001193125-26-276236Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Jonathan Zalevsky 2026-06-30Form 42026-07-020001193125-26-295112Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Jonathan Zalevsky 2026-07-24Form 42026-07-240001193125-26-316458Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Howard W. Robin 2026-07-24Form 42026-07-240001193125-26-316457Insider equity transaction reported since the proxy statement. Filing ↗
26Section 06, 2026 voteForm 8-K2026-06-050001213900-26-065845Item 5.07 · say-on-pay result. As reported: 99.12% (votes for as printed: 18,154,226). Filing ↗
27Section 06, 2025 voteForm 8-K2025-05-280001213900-25-047890Item 5.07 · say-on-pay result. As reported: 95.95% (votes for as printed: 96,965,611). Filing ↗
28Section 06, 2024 voteForm 8-K2024-06-060001213900-24-050365Item 5.07 · say-on-pay result. As reported: 92.82% (votes for as printed: 87,037,178). Filing ↗
29Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
30Section 03b vehicle mix (computed)ComputedcomputedRSU / 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)ComputedcomputedCash 518,000 + equity 0 + all other 0 = 518,000, summed across the director compensation table rows.machine: formula: Σ = 518,000
32Arcus Biosciences, Section 10b CEO totalDEF 14A2026-04-210001724521-26-000025CEO total compensation as printed in Arcus Biosciences's own proxy. As printed: 9,656,813. Filing ↗machine: r2 · c48 · span 403740–403749
33IDEAYA Biosciences, Section 10b CEO totalDEF 14A2026-04-290001193125-26-191501CEO total compensation as printed in IDEAYA Biosciences's own proxy. As printed: 9,512,640. Filing ↗machine: r2 · c14 · span 627310–627319
34Vera Therapeutics, Section 10b CEO totalDEF 14A2026-04-090001140361-26-014002CEO total compensation as printed in Vera Therapeutics's own proxy. As printed: 6,986,410. Filing ↗machine: r2 · c24 · span 581040–581049
35Viridian Therapeutics, Section 10b CEO totalDEF 14A2026-04-170001193125-26-160344CEO total compensation as printed in Viridian Therapeutics's own proxy. As printed: 6,776,249. Filing ↗machine: r2 · c35 · span 371769–371778
36Astria Therapeutics, Section 10b CEO totalDEF 14A2025-04-280001104659-25-040180CEO total compensation as printed in Astria Therapeutics's own proxy. As printed: 6,604,416. Filing ↗machine: r1 · c35 · span 327451–327460
37Nektar Therapeutics (subject), Section 10b CEO totalDEF 14A2026-04-240001140361-26-016708CEO total compensation as printed in Nektar Therapeutics's own proxy. As printed: 6,256,954. Filing ↗machine: r2 · c24 · span 738327–738336
38Celldex Therapeutics, Section 10b CEO totalDEF 14A2026-04-290001104659-26-050884CEO total compensation as printed in Celldex Therapeutics's own proxy. As printed: 5,366,709. Filing ↗machine: r1 · c54 · span 1024857–1024866
39Intellia Therapeutics, Section 10b CEO totalDEF 14A2026-04-300001193125-26-197283CEO total compensation as printed in Intellia Therapeutics's own proxy. As printed: 5,063,899. Filing ↗machine: r2 · c25 · span 749290–749299
40Relay Therapeutics, Section 10b CEO totalDEF 14A2026-04-280001193125-26-186929CEO total compensation as printed in Relay Therapeutics's own proxy. As printed: 4,646,454. Filing ↗machine: r2 · c29 · span 660153–660162
41Olema Pharmaceuticals, Section 10b CEO totalDEF 14A2026-04-290001193125-26-191956CEO total compensation as printed in Olema Pharmaceuticals's own proxy. As printed: 3,178,990. Filing ↗machine: t29 · r5 · c16 · span 612371–612380
42Rezolute, Section 10b CEO totalDEF 14A2025-10-070001104659-25-097509CEO total compensation as printed in Rezolute's own proxy. As printed: 2,851,109. Filing ↗machine: t83 · r3 · c17 · span 413905–413914
43Amylyx Pharmaceuticals, Section 10b CEO totalDEF 14A2026-04-230001193125-26-171800CEO total compensation as printed in Amylyx Pharmaceuticals's own proxy. As printed: 2,719,807. Filing ↗machine: r4 · c29 · span 597623–597632
44Kodiak Sciences, Section 10b CEO totalDEF 14A2026-04-220001193125-26-170429CEO total compensation as printed in Kodiak Sciences's own proxy. As printed: 2,499,221. Filing ↗machine: r4 · c14 · span 905058–905068
45Section 10a, Celldex Therapeutics reciprocityDEF 14A0001104659-26-050884Celldex Therapeutics's most recent proxy was read; its disclosed peer group does not include Nektar Therapeutics. Filing ↗
46Section 10a, Amylyx Pharmaceuticals reciprocityDEF 14A0001193125-26-171800Amylyx Pharmaceuticals's most recent proxy was read; its disclosed peer group does not include Nektar Therapeutics. Filing ↗
47Section 10a, Relay Therapeutics reciprocityDEF 14A0001193125-26-186929Relay Therapeutics's most recent proxy was read; its disclosed peer group does not include Nektar Therapeutics. Filing ↗
48Section 10a, Vera Therapeutics reciprocityDEF 14A0001140361-26-014002Vera Therapeutics's most recent proxy was read; its disclosed peer group does not include Nektar Therapeutics. Filing ↗
49Section 10a, Intellia Therapeutics reciprocityDEF 14A0001193125-26-197283Intellia Therapeutics's most recent proxy was read; its disclosed peer group does not include Nektar Therapeutics. Filing ↗
50Section 10a, Viridian Therapeutics reciprocityDEF 14A0001193125-26-160344Viridian Therapeutics's most recent proxy was read; its disclosed peer group does not include Nektar Therapeutics. Filing ↗
51Section 10a, Astria Therapeutics reciprocityDEF 14A0001104659-25-040180Astria Therapeutics's most recent proxy was read; its disclosed peer group does not include Nektar Therapeutics. Filing ↗
52Section 10a, Olema Pharmaceuticals reciprocityDEF 14A0001193125-26-191956Olema Pharmaceuticals's most recent proxy was read; its disclosed peer group does not include Nektar Therapeutics. Filing ↗
53Section 10a, IDEAYA Biosciences reciprocityDEF 14A0001193125-26-191501IDEAYA Biosciences's most recent proxy was read; its disclosed peer group does not include Nektar Therapeutics. Filing ↗
54Section 10a, Kodiak Sciences reciprocityDEF 14A0001193125-26-170429Kodiak Sciences names Nektar Therapeutics in its own disclosed peer group (read from its most recent proxy). Filing ↗