Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-04-28

Neuraxis (NRXS)

CEO Brian Carrico was paid $936,439 in fiscal year 2025, ↑ up 61.9% from fiscal year 2024 (SEC filing 0001140361-26-017498 ↗): 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.

$936,439 ↑
Brian Carrico total, FY2025
—
CEO pay percentile vs peers
—
CEO-to-median pay ratio
99.27%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Brian Carrico (President, Chief Executive Officer, and Director), FY2025 total compensation $936,439 (base salary $345,102) [exec_comp, SEC accession 0001140361-26-017498, filed 2026-04-28]

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NRXS's next annual pay disclosure, estimated May 12, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Brian Carrico$345,102$180,960$388,841———$21,536$936,439
President, Chief Executive Officer, and Director
Timothy Henrichs327,336140,551327,922———21,536817,345
Chief Financial Officer
Adrian Miranda300,00077,533171,900———21,536570,969
Chief Medical Officer, Senior Vice President of Science and Technology
Thomas Carrico300,00077,533166,308———23,042566,883
Chief Regulatory Officer, Compliance Officer and Privacy 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
Brian Carrico$936,439$578,376$839,398↑ +358,063
Timothy Henrichs817,345628,877—↑ +188,468
Adrian Miranda570,969382,445323,052↑ +188,524
Thomas Carrico566,883368,914411,097↑ +197,969

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 NRXS
No companies currently name NRXS as a compensation peer in their most recent disclosure.

This is the complete answer, not a partial one — the list is never padded.

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
Adrian MirandaSVP$570,969
Brian CarricoCEO$936,439
Thomas CarricoExecutive$566,883
Timothy HenrichsCFO$817,345
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
Beth KeyserIndependent Director$110,000
Bradley Mitch WatkinsChair of the Board$110,537
Gilad AharonIndependent Director$110,883
Kristin FergeIndependent Director$115,004
02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Adrian MirandaRSU40,000—$181,600
CarricoRSU37,435—169,955
Timothy HenrichsRSU174,037—790,128
Timothy HenrichsRSU67,980—308,629
CarricoRSU100,640—456,906
CarricoRSU70,019—317,886
CarricoRSU35,000—158,900
Adrian MirandaRSU35,000—158,900
05

Incentive-plan design — the Compensation Discussion & Analysis

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultant—
Clawback policy—
Anti-hedging—
Anti-pledging—
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20242024-08-153,609,62126,5785,00099.27%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
20242024-08-1599.27%a

a. Approved under the standard stated in the filing — “Abstentions and broker non-votes 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
Kristin FergeIndependent · Audit (Chair) · Compensation · Nominating and Corporate Governance$65,004$50,000———$115,004
Gilad AharonIndependent · Compensation (Chair)60,88350,000———110,883
Bradley Mitch WatkinsIndependent · Board Chair · Audit · Compensation · Nominating and Corporate Governance60,53750,000———110,537
Beth KeyserIndependent · Audit · Compensation · Nominating and Corporate Governance (Chair)60,00050,000———110,000
Timothy HenrichsNot independent · Departed during FY00———0
Brian CarricoEmployee director—————0
Christopher Robin BrownNot independent · Newly elected——————
09

Board fee structure and ownership guideline

Annual cash retainer—
Annual equity retainer—
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)—
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$246,424
Equity awards (grant-date value)$200,000
All other compensation$0
Total cost of the board$446,424

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
1Neuraxis2025Brian Carrico$345,102$388,841——$936,439

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 Neuraxis in fiscal 2025?
As disclosed, Brian Carrico (President, Chief Executive Officer, and Director) was the highest-paid executive at Neuraxis in fiscal 2025, with total compensation of $936,439.
How did shareholders vote on Neuraxis's executive compensation?
As disclosed, 99.27% of shareholders supported Neuraxis's executive compensation in the latest say-on-pay vote.
How much does Neuraxis spend in total on board compensation for fiscal 2025?
As disclosed, Neuraxis reported total board compensation of $446,424 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, Brian CarricoDEF 14A2026-04-280001140361-26-017498Section “Executive Compensation”. As printed: 936,439. Filing ↗
2Section 01, Timothy HenrichsDEF 14A2026-04-280001140361-26-017498Section “Executive Compensation”. As printed: 817,345. Filing ↗
3Section 01, Adrian MirandaDEF 14A2026-04-280001140361-26-017498Section “Executive Compensation”. As printed: 570,969. Filing ↗
4Section 01, Thomas CarricoDEF 14A2026-04-280001140361-26-017498Section “Executive Compensation”. As printed: 566,883. Filing ↗
5Section 07, pay ratio10-K2026-03-190001493152-26-011505Section “CEO Pay Ratio”. As printed: —. Filing ↗
6Section 08, Kristin FergeDEF 14A2026-04-280001140361-26-017498Section “Director Compensation”. As printed: 115,004. Filing ↗machine: span 173082–173261
7Section 08, Gilad AharonDEF 14A2026-04-280001140361-26-017498Section “Director Compensation”. As printed: 110,883. Filing ↗machine: span 177509–177688
8Section 08, Bradley Mitch WatkinsDEF 14A2026-04-280001140361-26-017498Section “Director Compensation”. As printed: 110,537. Filing ↗machine: span 164266–164445
9Section 08, Beth KeyserDEF 14A2026-04-280001140361-26-017498Section “Director Compensation”. As printed: 110,000. Filing ↗machine: span 168639–168818
10Section 08, Timothy HenrichsDEF 14A2026-04-280001140361-26-017498Section “Director Compensation”. As printed: 0. Filing ↗
11Section 08, Brian CarricoDEF 14A2026-04-280001140361-26-017498Section “Director Compensation”. As printed: 0. Filing ↗
12Section 08, Christopher Robin BrownDEF 14A2026-04-280001140361-26-017498Section “Director Compensation”. As printed: —. Filing ↗
13Section 06, 2024 voteForm 8-K2024-08-210001493152-24-033444Item 5.07 · say-on-pay result. As reported: 99.27% (votes for as printed: 3,609,621). Filing ↗
14Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
15Section 09b board cost (computed)Computed——Cash 246,424 + equity 200,000 + all other 0 = 446,424, summed across the director compensation table rows.machine: formula: Σ = 446,424
16Neuraxis (subject), Section 10b CEO totalDEF 14A2026-04-280001140361-26-017498CEO total compensation as printed in Neuraxis's own proxy. As printed: 936,439. Filing ↗

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