CEO Shankar Musunuri was paid $4,841,822 in fiscal year 2025, ↑ up 149.4% from fiscal year 2024 (SEC filing 0001140361-26-017260 ↗): 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.
$4,841,822 ↑ Shankar Musunuri total, FY2025 | — CEO pay percentile vs peers | 2:1 CEO-to-median pay ratio | 79.05% Say-on-pay support, latest vote |
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| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Shankar Musunuri | $757,900 | $500,214 | $2,194,445 | $1,385,871 | $0 | $0 | $3,392 | $4,841,822 |
| Chief Executive Officer, Chairman and Co-Founder | ||||||||
| Huma Qamar | 448,050 | 190,130 | 1,375,478 | 868,975 | 0 | 0 | 5,847 | 2,888,481 |
| Chief Medical Officer | ||||||||
| Arun Upadhyay | 480,146 | 209,601 | 877,778 | 554,500 | 0 | 0 | 14,004 | 2,136,069 |
| Chief Scientific Officer | ||||||||
| Ramesh Ramachandran | 360,500 | 137,927 | 420,455 | 266,708 | 0 | 0 | 6,498 | 1,192,089 |
| Chief Accounting 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 |
|---|---|---|---|---|
| Shankar Musunuri | $4,841,822 | $1,941,539 | — | ↑ +2,900,283 |
| Huma Qamar | 2,888,481 | 1,725,700 | — | ↑ +1,162,781 |
| Arun Upadhyay | 2,136,069 | 870,869 | — | ↑ +1,265,200 |
| Ramesh Ramachandran | 1,192,089 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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Each company listed discloses OCGN 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 OCGN in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
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.
| Executive | Role | FY2025 total |
|---|---|---|
| Arun Upadhyay | Chief Scientific Officer | $2,136,069 |
| Huma Qamar | Chief Medical Officer | $2,888,481 |
| Ramesh Ramachandran | Chief Accounting Officer | $1,192,089 |
| Shankar Musunuri | CEO | $4,841,822 |
One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2025 total |
|---|---|---|
| Blaise Coleman, MBA | Independent Director | $182,321 |
| Junge Zhang, Ph.D | Independent Director | $196,250 |
| Kirsten Castillo, MBA | Independent Director | $203,750 |
| Marna C. Whittington, Ph.D | Former director (through FY2025) | $29,144 |
| Prabhavathi Fernandes, Ph.D., FIDSA | Former director (through FY2025) | $39,897 |
| Satish Chandran, Ph.D | Independent Director | $205,179 |
| Uday B. Kompella, Ph.D | Independent Director | $211,250 |
No insider equity transactions reported since the proxy statement.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Arun Upadhyay | RSU | 114,754 | — | $154,918 |
| Arun Upadhyay | RSU | 555,556 | — | 750,001 |
| Huma Qamar | Option | 1,034,357 | 0.9 | — |
| Huma Qamar | Option | 199,349 | 0.9 | — |
| Huma Qamar | Option | 150,797 | 0.9 | — |
| Huma Qamar | RSU | 256,885 | — | 346,795 |
| Shankar Musunuri | Option | 1,827,485 | 0.9 | — |
| Huma Qamar | Option | 111,111 | 0.9 | — |
| Shankar Musunuri | Option | 328,084 | 0.66 | — |
| Shankar Musunuri | RSU | 1,388,889 | — | 1,875,000 |
| Shankar Musunuri | RSU | 491,803 | — | 663,934 |
| Huma Qamar | RSU | 266,111 | — | 359,250 |
| Arun Upadhyay | RSU | 105,308 | — | 142,166 |
| Shankar Musunuri | RSU | 529,764 | — | 0 |
| Shankar Musunuri | Option | 590,551 | 1.25 | — |
| Shankar Musunuri | Option | 111,111 | 0.9 | — |
| Shankar Musunuri | Option | 1,716,374 | 0.9 | — |
| Arun Upadhyay | Option | 126,452 | 1.25 | — |
| Arun Upadhyay | Option | 91,863 | 0.66 | — |
| Arun Upadhyay | Option | 730,994 | 0.9 | — |
| Arun Upadhyay | Option | 188,539 | 0.9 | — |
| Arun Upadhyay | Option | 542,455 | 0.9 | — |
| Huma Qamar | Option | 2,056,435 | 1.59 | — |
| Huma Qamar | Option | 103,064 | 1.17 | — |
| Huma Qamar | RSU | 870,556 | — | 1,175,251 |
| Arun Upadhyay | Option | 350,146 | 0.9 | — |
| Huma Qamar | Option | 1,145,468 | 0.9 | — |
The compensation program is designed to attract, motivate, and retain individuals committed to the company's values and goals, aligning pay with performance and supporting the attraction, retention, and motivation of key executive talent.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Pearl Meyer & Partners LLC |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-11 | 49,968,948 | 13,245,090 | 1,505,123 | 79.05% | Passed |
| 2025 | 2025-06-05 | 31,296,206 | 6,759,801 | 2,832,759 | 82.24% | Passed |
| 2024 | 2024-06-28 | 48,751,037 | 10,722,166 | 1,814,502 | 81.97% | Passed |
| 2023 | 2023-06-23 | 45,683,929 | 29,453,107 | 4,616,956 | 60.8% | Passed |
| 2022 | 2022-06-07 | 49,150,676 | 14,207,226 | 2,113,496 | 77.58% | Passed |
| 2021 | 2021-07-02 | 47,559,375 | 16,714,462 | 2,340,271 | 73.99% | 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.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-06-11 | 79.05%a |
| 2025 | 2025-06-05 | 82.24%b |
| 2024 | 2024-06-28 | 81.97%c |
a. Voting standard not stated in the filing.
b. Voting standard not stated in the filing.
c. Approved under the standard stated in the filing — “57.28% of votes cast (% of votes For / For + Against + Abstentions)”.
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.
| Ratio (CEO : median employee) | 2 : 1 |
|---|---|
| CEO total compensation | $4,841,822 |
| Median employee compensation | — |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Uday B. Kompella, Ph.DIndependent · Compensation · Nominating and Corporate Governance · Science and Technology (Chair) · Partial-year service | $67,500 | $0 | $143,750 | — | $0 | $211,250 |
| Satish Chandran, Ph.DIndependent · Compensation (Chair) · Audit · Science and Technology · Partial-year service · Newly elected | 41,429 | 0 | 143,750 | — | 20,000 | 205,179 |
| Kirsten Castillo, MBAIndependent · Audit · Nominating and Corporate Governance (Chair) · Compensation · Partial-year service · Newly elected | 60,000 | 0 | 143,750 | — | 0 | 203,750 |
| Junge Zhang, Ph.DIndependent · Compensation · Nominating and Corporate Governance · Science and Technology · Partial-year service | 52,500 | 0 | 143,750 | — | 0 | 196,250 |
| Blaise Coleman, MBAIndependent · Audit (Chair) · Science and Technology · Partial-year service · Newly elected | 38,571 | 0 | 143,750 | — | 0 | 182,321 |
| Prabhavathi Fernandes, Ph.D., FIDSAIndependent · Compensation · Departed during FY · Partial-year service | 39,897 | 0 | 0 | — | 0 | 39,897 |
| Marna C. Whittington, Ph.DIndependent · Compensation · Not standing for re-election · Departed during FY · Partial-year service | 29,144 | 0 | 0 | — | 0 | 29,144 |
| Shankar Musunuri, Ph.D., MBAEmployee director · Board Chair · Partial-year service | — | — | — | — | — | 0 |
| Annual cash retainer | $40,000 |
|---|---|
| Annual equity retainer | $115,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 15,000 / 10,000 |
| Stock ownership guideline | $5 |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $329,041 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $20,000 |
| Total cost of the board | $349,041 |
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 | Ocugen | 2025 | Shankar Musunuri | $757,900 | $2,194,445 | $1,385,871 | $0 | $4,841,822 |
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.
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.
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, Shankar Musunuri | DEF 14A | 2026-04-28 | 0001140361-26-017260 | Section “2025 EXECUTIVE COMPENSATION TABLES”. As printed: 4,841,822. Filing ↗machine: r2 · c22 · span 505124–505133 |
| 2 | Section 01, Huma Qamar | DEF 14A | 2026-04-28 | 0001140361-26-017260 | Section “2025 EXECUTIVE COMPENSATION TABLES”. As printed: 2,888,481. Filing ↗machine: r7 · c22 · span 528169–528178 |
| 3 | Section 01, Arun Upadhyay | DEF 14A | 2026-04-28 | 0001140361-26-017260 | Section “2025 EXECUTIVE COMPENSATION TABLES”. As printed: 2,136,069. Filing ↗machine: r5 · c22 · span 519205–519214 |
| 4 | Section 01, Ramesh Ramachandran | DEF 14A | 2026-04-28 | 0001140361-26-017260 | Section “2025 EXECUTIVE COMPENSATION TABLES”. As printed: 1,192,089. Filing ↗machine: r4 · c22 · span 514772–514781 |
| 5 | Section 07, pay ratio | DEF 14A | 2026-04-28 | 0001140361-26-017260 | Section “CEO Pay Ratio”. As printed: 2 : 1. Filing ↗ |
| 6 | Section 08, Uday B. Kompella, Ph.D | DEF 14A | 2026-04-28 | 0001140361-26-017260 | Section “Director Compensation”. As printed: 211,250. Filing ↗machine: span 369418–369599 |
| 7 | Section 08, Satish Chandran, Ph.D | DEF 14A | 2026-04-28 | 0001140361-26-017260 | Section “Director Compensation”. As printed: 205,179. Filing ↗machine: span 372320–372501 |
| 8 | Section 08, Kirsten Castillo, MBA | DEF 14A | 2026-04-28 | 0001140361-26-017260 | Section “Director Compensation”. As printed: 203,750. Filing ↗machine: span 381847–382028 |
| 9 | Section 08, Junge Zhang, Ph.D | DEF 14A | 2026-04-28 | 0001140361-26-017260 | Section “Director Compensation”. As printed: 196,250. Filing ↗machine: span 378554–378735 |
| 10 | Section 08, Blaise Coleman, MBA | DEF 14A | 2026-04-28 | 0001140361-26-017260 | Section “Director Compensation”. As printed: 182,321. Filing ↗machine: span 375615–375796 |
| 11 | Section 08, Prabhavathi Fernandes, Ph.D., FIDSA | DEF 14A | 2026-04-28 | 0001140361-26-017260 | Section “Director Compensation”. As printed: 39,897. Filing ↗machine: span 387644–387866 |
| 12 | Section 08, Marna C. Whittington, Ph.D | DEF 14A | 2026-04-28 | 0001140361-26-017260 | Section “Director Compensation”. As printed: 29,144. Filing ↗machine: span 384843–385066 |
| 13 | Section 08, Shankar Musunuri, Ph.D., MBA | DEF 14A | 2026-04-28 | 0001140361-26-017260 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 14 | Section 06, 2026 vote | Form 8-K | 2026-06-11 | 0001104659-26-073015 | Item 5.07 · say-on-pay result. As reported: 79.05% (votes for as printed: 49,968,948). Filing ↗ |
| 15 | Section 06, 2025 vote | Form 8-K | 2025-06-05 | 0001104659-25-056875 | Item 5.07 · say-on-pay result. As reported: 82.24% (votes for as printed: 31,296,206). Filing ↗ |
| 16 | Section 06, 2024 vote | Form 8-K | 2024-06-28 | 0001104659-24-076278 | Item 5.07 · say-on-pay result. As reported: 81.97% (votes for as printed: 48,751,037). Filing ↗ |
| 17 | Section 01 trend, Δ column (computed) | Computed | — | — | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 18 | Section 09b board cost (computed) | Computed | — | — | Cash 329,041 + equity 0 + all other 20,000 = 349,041, summed across the director compensation table rows.machine: formula: Σ = 349,041 |
| 19 | Ocugen (subject), Section 10b CEO total | DEF 14A | 2026-04-28 | 0001140361-26-017260 | CEO total compensation as printed in Ocugen's own proxy. As printed: 4,841,822. Filing ↗machine: r2 · c22 · span 505124–505133 |