Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-17

Nuvation Bio (NUVB)

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.

$3,876,736
David Hung total, FY2025
CEO pay percentile vs peers
CEO-to-median pay ratio
97.89%
Say-on-pay support, latest vote
Companies that benchmark against NUVB
2 companies name NUVB as a compensation peer

Each company listed discloses NUVB 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 NUVB 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
David Hung$650,016$0$0$2,674,636$536,250$0$15,834$3,876,736
President and Chief Executive Officer
Philippe Sauvage510,00000668,659252,450047,5681,478,677
Chief Financial Officer
Gary Hattersley515,07200668,659254,925035,8061,472,462
Chief Scientific 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
David Hung$3,876,736$3,717,354+159,382
Philippe Sauvage1,478,6771,190,956+287,721
Gary Hattersley1,472,4621,406,750+65,712

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
Kerry WentworthCHIEF REGULATORY OFFICER2026-04-17D36,750$5$184,279CommonForm 4 ↗
Dongfang LiuCHIEF MEDICAL OFFICER2026-04-17D50,0005251,000CommonForm 4 ↗
Kerry WentworthCHIEF REGULATORY OFFICER2026-04-17A36,7503107,678CommonForm 4 ↗
Dongfang LiuCHIEF MEDICAL OFFICER2026-04-17A50,000297,000CommonForm 4 ↗
Dongfang LiuCHIEF MEDICAL OFFICER2026-04-17D50,00000Derivative, Class A CommonForm 4 ↗
Kerry WentworthCHIEF REGULATORY OFFICER2026-04-17D36,75000Derivative, Class A CommonForm 4 ↗
Kathryn E. FalbergDirector2026-05-21A123,39700Derivative, Class A CommonForm 4 ↗
W. Anthony VernonDirector2026-05-21A123,39700Derivative, Class A CommonForm 4 ↗
Robert MashalDirector2026-05-21A123,39700Derivative, Class A CommonForm 4 ↗
Kim BlickenstaffDirector2026-05-21A123,39700Derivative, Class A CommonForm 4 ↗
Robert B. Bazemore JrDirector2026-05-21A123,39700Derivative, Class A CommonForm 4 ↗
Xiangmin CuiDirector2026-05-21A123,39700Derivative, Class A CommonForm 4 ↗
Robert MashalDirector2026-06-09A25,0005118,250CommonForm 4 ↗
Philippe SauvageChief Financial Officer2026-06-23A47,6682103,440CommonForm 4 ↗
Philippe SauvageChief Financial Officer2026-06-23D47,6686286,370CommonForm 4 ↗
Philippe SauvageChief Financial Officer2026-06-23D47,66800Derivative, Class A CommonForm 4 ↗
Stacy MarkelCHIEF PEOPLE OFFICER2026-06-23D90,38000Derivative, Class A CommonForm 4 ↗
Stacy MarkelCHIEF PEOPLE OFFICER2026-06-23D125,0006753,188CommonForm 4 ↗
Stacy MarkelCHIEF PEOPLE OFFICER2026-06-23A34,620260,239CommonForm 4 ↗
Stacy MarkelCHIEF PEOPLE OFFICER2026-06-23A90,3802169,011CommonForm 4 ↗
Kerry WentworthCHIEF REGULATORY OFFICER2026-06-23D63,0006379,191CommonForm 4 ↗
Stacy MarkelCHIEF PEOPLE OFFICER2026-06-23D34,62000Derivative, Class A CommonForm 4 ↗
Kerry WentworthCHIEF REGULATORY OFFICER2026-06-23D63,00000Derivative, Class A CommonForm 4 ↗
Kerry WentworthCHIEF REGULATORY OFFICER2026-06-23A63,0003184,590CommonForm 4 ↗
Philippe SauvageChief Financial Officer2026-07-15D39,99900Derivative, Class A CommonForm 4 ↗
Dividend-equivalent accruals2026-07-1511 insider, 1 accrual row
Philippe SauvageChief Financial Officer2026-07-15A39,999286,798CommonForm 4 ↗
Philippe SauvageChief Financial Officer2026-07-15A122CommonForm 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.

View all 28 transactions
InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Kerry WentworthCHIEF REGULATORY OFFICER2026-04-17D36,750$5$184,279CommonForm 4 ↗
Dongfang LiuCHIEF MEDICAL OFFICER2026-04-17D50,0005251,000CommonForm 4 ↗
Kerry WentworthCHIEF REGULATORY OFFICER2026-04-17A36,7503107,678CommonForm 4 ↗
Dongfang LiuCHIEF MEDICAL OFFICER2026-04-17A50,000297,000CommonForm 4 ↗
Dongfang LiuCHIEF MEDICAL OFFICER2026-04-17D50,00000Derivative, Class A CommonForm 4 ↗
Kerry WentworthCHIEF REGULATORY OFFICER2026-04-17D36,75000Derivative, Class A CommonForm 4 ↗
Kathryn E. FalbergDirector2026-05-21A123,39700Derivative, Class A CommonForm 4 ↗
W. Anthony VernonDirector2026-05-21A123,39700Derivative, Class A CommonForm 4 ↗
Robert MashalDirector2026-05-21A123,39700Derivative, Class A CommonForm 4 ↗
Kim BlickenstaffDirector2026-05-21A123,39700Derivative, Class A CommonForm 4 ↗
Robert B. Bazemore JrDirector2026-05-21A123,39700Derivative, Class A CommonForm 4 ↗
Xiangmin CuiDirector2026-05-21A123,39700Derivative, Class A CommonForm 4 ↗
Robert MashalDirector2026-06-09A25,0005118,250CommonForm 4 ↗
Philippe SauvageChief Financial Officer2026-06-23A47,6682103,440CommonForm 4 ↗
Philippe SauvageChief Financial Officer2026-06-23D47,6686286,370CommonForm 4 ↗
Philippe SauvageChief Financial Officer2026-06-23D47,66800Derivative, Class A CommonForm 4 ↗
Stacy MarkelCHIEF PEOPLE OFFICER2026-06-23D90,38000Derivative, Class A CommonForm 4 ↗
Stacy MarkelCHIEF PEOPLE OFFICER2026-06-23D125,0006753,188CommonForm 4 ↗
Stacy MarkelCHIEF PEOPLE OFFICER2026-06-23A34,620260,239CommonForm 4 ↗
Stacy MarkelCHIEF PEOPLE OFFICER2026-06-23A90,3802169,011CommonForm 4 ↗
Kerry WentworthCHIEF REGULATORY OFFICER2026-06-23D63,0006379,191CommonForm 4 ↗
Stacy MarkelCHIEF PEOPLE OFFICER2026-06-23D34,62000Derivative, Class A CommonForm 4 ↗
Kerry WentworthCHIEF REGULATORY OFFICER2026-06-23D63,00000Derivative, Class A CommonForm 4 ↗
Kerry WentworthCHIEF REGULATORY OFFICER2026-06-23A63,0003184,590CommonForm 4 ↗
Philippe SauvageChief Financial Officer2026-07-15D39,99900Derivative, Class A CommonForm 4 ↗
Philippe SauvageChief Financial Officer2026-07-15D100Derivative, Class A CommonForm 4 ↗
Philippe SauvageChief Financial Officer2026-07-15A39,999286,798CommonForm 4 ↗
Philippe SauvageChief Financial Officer2026-07-15A122CommonForm 4 ↗
03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
David HungOPTION2025-02-2888$2,000,000
Gary HattersleyOPTION2025-02-2888448,182
Colleen SjogrenOPTION2025-02-2888448,182
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
David Hung$0$0$2,000,0000.0%
Gary Hattersley00448,1820.0%
Colleen Sjogren00448,1820.0%

% 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
David HungOption1,086,3341.87
Gary HattersleyOption66,6672.93
Gary HattersleyOption500,0001.97
Philippe SauvageOption500,0001.97
David HungOption2,000,0001.97
David HungOption729,1671.94
Gary HattersleyOption145,8341.94
David HungOption83,3345.06
Gary HattersleyOption20,8345.06
Philippe SauvageOption531,2502.17
Gary HattersleyOption270,8341.87
David HungOption134,85612.66
05

Incentive-plan design — the Compensation Discussion & Analysis

We recognize that our ability to excel as a company depends on the integrity, knowledge, imagination, skill and teamwork of our Named Executive Officers and employees. To this end, we strive to create an environment of mutual respect, encouragement and teamwork that rewards commitment and performance and that is responsive to the needs of our Named Executive Officers and employees.

CEO STI target (% of salary)75%
CEO LTI target (% of salary)
Independent consultantFW Cook
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-21230,050,6444,950,024328,69497.89%Passed
20252025-05-21214,903,0331,601,869143,82199.26%Passed
20242024-09-03208,479,5051,832,719568,55599.13%Passed
20232023-05-15153,714,32938,025,1249,88780.17%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
20262026-05-2197.89%a
20252025-05-2199.26%b
20242024-09-0399.13%c

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

c. 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.

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. Bazemore JrIndependent · Lead Independent Director · Audit · Compensation · Nominating/Governance (Chair)$98,000$0$385,000$0$483,000
W. Anthony VernonIndependent · Compensation (Chair) · Nominating/Governance61,0000385,0000446,000
Kathryn E. FalbergIndependent · Audit (Chair)60,0000385,0000445,000
Kim BlickenstaffIndependent · Audit51,2500385,0000436,250
Robert Mashal, M.DIndependent · Nominating/Governance37,5000385,0000422,500
David Hung, M.DEmployee director · Board Chair00000
Min Cui, Ph.DIndependent · Compensation00000
09

Board fee structure and ownership guideline

Annual cash retainer$45,000
Annual equity retainer$385,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)15,000 / 12,000 / 10,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$307,750
Equity awards (grant-date value)$0
All other compensation$0
Total cost of the board$307,750

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
1Nuvation Bio2025David Hung$650,016$0$2,674,636$536,250$3,876,736

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.

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, David HungDEF 14A2026-04-100001140361-26-014157Section “Summary Compensation Table”. As printed: 3,876,736. Filing ↗machine: r2 · c21 · span 357089–357099
2Section 01, Philippe SauvageDEF 14A2026-04-100001140361-26-014157Section “Summary Compensation Table”. As printed: 1,478,677. Filing ↗machine: r4 · c21 · span 364912–364921
3Section 01, Gary HattersleyDEF 14A2026-04-100001140361-26-014157Section “Summary Compensation Table”. As printed: 1,472,462. Filing ↗machine: t85 · r6 · c21 · span 372876–372886
4Section 03, David Hung OPTIONDEF 14A2026-04-100001140361-26-014157Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t89 · r8 · c10 · span 422293–422302
5Section 03, Gary Hattersley OPTIONDEF 14A2026-04-100001140361-26-014157Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t115 · r4 · c6 · span 650260–650267
6Section 03, Colleen Sjogren OPTIONDEF 14A2026-04-100001140361-26-014157Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t115 · r3 · c6 · span 646651–646658
7Section 07, pay ratio10-K2026-03-020001193125-26-085584Section “CEO Pay Ratio”. As printed: —. Filing ↗
8Section 08, Robert B. Bazemore JrDEF 14A2026-04-100001140361-26-014157Section “Director Compensation”. As printed: 483,000. Filing ↗machine: t77 · r2 · c9 · span 272062–272070
9Section 08, W. Anthony VernonDEF 14A2026-04-100001140361-26-014157Section “Director Compensation”. As printed: 446,000. Filing ↗machine: t77 · r7 · c9 · span 281291–281299
10Section 08, Kathryn E. FalbergDEF 14A2026-04-100001140361-26-014157Section “Director Compensation”. As printed: 445,000. Filing ↗machine: t77 · r5 · c9 · span 277657–277665
11Section 08, Kim BlickenstaffDEF 14A2026-04-100001140361-26-014157Section “Director Compensation”. As printed: 436,250. Filing ↗machine: t77 · r3 · c9 · span 273790–273798
12Section 08, Robert Mashal, M.DDEF 14A2026-04-100001140361-26-014157Section “Director Compensation”. As printed: 422,500. Filing ↗machine: t77 · r6 · c9 · span 279658–279666
13Section 08, David Hung, M.DDEF 14A2026-04-100001140361-26-014157Section “Director Compensation”. As printed: 0. Filing ↗
14Section 08, Min Cui, Ph.DDEF 14A2026-04-100001140361-26-014157Section “Director Compensation”. As printed: 0. Filing ↗machine: t77 · r4 · c9 · span 275719–275721
15Section 02, Kerry Wentworth 2026-04-17Form 42026-04-210001369453-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
16Section 02, Dongfang Liu 2026-04-17Form 42026-04-210001937915-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
17Section 02, Kerry Wentworth 2026-04-17Form 42026-04-210001369453-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
18Section 02, Dongfang Liu 2026-04-17Form 42026-04-210001937915-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
19Section 02, Dongfang Liu 2026-04-17Form 42026-04-210001937915-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, Kerry Wentworth 2026-04-17Form 42026-04-210001369453-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, Kathryn E. Falberg 2026-05-21Form 42026-05-260001206977-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, W. Anthony Vernon 2026-05-21Form 42026-05-260001369091-26-000003Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Robert Mashal 2026-05-21Form 42026-05-260002007102-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Kim Blickenstaff 2026-05-21Form 42026-05-260001238913-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Robert B. Bazemore Jr 2026-05-21Form 42026-05-260001620152-26-000003Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Xiangmin Cui 2026-05-21Form 42026-05-260001487815-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Robert Mashal 2026-06-09Form 42026-06-110002007102-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Philippe Sauvage 2026-06-23Form 42026-06-240002039891-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Philippe Sauvage 2026-06-23Form 42026-06-240002039891-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Philippe Sauvage 2026-06-23Form 42026-06-240002039891-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Stacy Markel 2026-06-23Form 42026-06-240001734780-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Stacy Markel 2026-06-23Form 42026-06-240001734780-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Stacy Markel 2026-06-23Form 42026-06-240001734780-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Stacy Markel 2026-06-23Form 42026-06-240001734780-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Kerry Wentworth 2026-06-23Form 42026-06-240001369453-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Stacy Markel 2026-06-23Form 42026-06-240001734780-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Kerry Wentworth 2026-06-23Form 42026-06-240001369453-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Kerry Wentworth 2026-06-23Form 42026-06-240001369453-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Philippe Sauvage 2026-07-15Form 42026-07-170002039891-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Philippe Sauvage 2026-07-15Form 42026-07-170002039891-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Philippe Sauvage 2026-07-15Form 42026-07-170002039891-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Philippe Sauvage 2026-07-15Form 42026-07-170002039891-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
43Section 06, 2026 voteForm 8-K2026-05-270001193125-26-241922Item 5.07 · say-on-pay result. As reported: 97.89% (votes for as printed: 230,050,644). Filing ↗
44Section 06, 2025 voteForm 8-K2025-05-230001193125-25-125763Item 5.07 · say-on-pay result. As reported: 99.26% (votes for as printed: 214,903,033). Filing ↗
45Section 06, 2024 voteForm 8-K2024-09-050001193125-24-214241Item 5.07 · say-on-pay result. As reported: 99.13% (votes for as printed: 208,479,505). Filing ↗
46Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
47Section 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
48Section 09b board cost (computed)ComputedcomputedCash 307,750 + equity 0 + all other 0 = 307,750, summed across the director compensation table rows.machine: formula: Σ = 307,750
49Nuvation Bio (subject), Section 10b CEO totalDEF 14A2026-04-100001140361-26-014157CEO total compensation as printed in Nuvation Bio's own proxy. As printed: 3,876,736. Filing ↗machine: r2 · c21 · span 357089–357099