Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-16

Phathom Pharmaceuticals, Inc. (PHAT)

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.

$6,968,070
Steven Basta total, FY2025
44th
CEO pay percentile vs peers
CEO-to-median pay ratio
94.61%
Say-on-pay support, latest vote
Companies that benchmark against PHAT
4 companies name PHAT as a compensation peer

Each company listed discloses PHAT 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 PHAT 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
Steven Basta$525,000$0$1,986,600$3,983,144$455,701$0$17,625$6,968,070
President and Chief Executive Officer
Terrie Curran184,0000473,4721,445,213002,834,1064,936,791
Former President and Chief Executive Officer
Sanjeev Narula131,44201,671,8401,726,00081,49407,1863,617,962
Chief Financial and Business Officer
Azmi Nabulsi219,7500532,224232,078001,730,2622,714,314
Former Chief Operating Officer
Anne Marie Cook261,4940199,9201,475,943145,914016,7312,100,002
Chief Legal Officer and Secretary

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
Steven Basta$6,968,070
Terrie Curran4,936,7913,564,8833,411,022+1,371,908
Sanjeev Narula3,617,962
Azmi Nabulsi2,714,3141,566,5412,035,913+1,147,773
Anne Marie Cook2,100,002

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
Mark StenhouseDirector2026-05-19A24,122$0$0CommonForm 4 ↗
James TopperDirector2026-05-19A24,12200CommonForm 4 ↗
Michael F. ColaDirector2026-05-19A24,12200CommonForm 4 ↗
Heidi FieldsDirector2026-05-19A24,12200CommonForm 4 ↗
Asit ParikhDirector2026-05-19A24,12200CommonForm 4 ↗
Asit ParikhDirector2026-05-19A17,500586,625CommonForm 4 ↗
Frank KarbeDirector2026-05-19A24,12200CommonForm 4 ↗
Theodore R. SchroederDirector2026-05-19A24,12200CommonForm 4 ↗
Asit ParikhDirector2026-05-19D17,50000Derivative, Class A CommonForm 4 ↗
Asit ParikhDirector2026-05-22A28,00000CommonForm 4 ↗
Asit ParikhDirector2026-05-22D28,00000CommonForm 4 ↗
Robert Charles BreedlovePrincipal Accounting Officer2026-07-14D1,5551117,159CommonForm 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
Steven BastaPSU2025-04-01180,000
Anne Marie CookPSU2025-06-0150,400
Sanjeev NarulaRSU2025-10-01144,0001,769,760
Terrie CurranPSU2025-02-01246,600
Azmi NabulsiRSU2025-02-27
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Sanjeev Narula$1,769,760$0$00.0%

% 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
Sanjeev NarulaOption200,00011.61
Terrie CurranOption2,03215.21
Terrie CurranOption67,7097.6
Terrie CurranOption20,3138.35
Steven BastaPSU132,3622,195,886
Terrie CurranRSU2,50041,475
Terrie CurranRSU79,2001,313,928
Terrie CurranRSU15,000248,850
Terrie CurranOption55,0005.76
Steven BastaOption1,085,0005.01
Sanjeev NarulaRSU144,0002,388,960
Terrie CurranRSU36,667608,306
Steven BastaPSU180,0002,986,200
Anne Marie CookOption210,0009.47
Anne Marie CookPSU37,061614,842
05

Incentive-plan design — the Compensation Discussion & Analysis

maintain an executive compensation program designed to attract, retain and motivate individuals with superior ability, experience and leadership capability to deliver on our annual and long-term business objectives important to create stockholder value

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantPay Governance LLC
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-1944,449,7612,532,145165,67594.61%Passed
20252025-06-0324,584,7818,704,7391,185,04673.85%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
20262026-05-1994.61%a
20252025-06-0373.85%b

a. Approved under the standard stated in the filing — “Abstentions are not an affirmative or negative vote on a proposal, so abstaining does not count as a vote cast and has no effect for purposes of determining whether our stockholders have ratified the appointment of Ernst & Young LLP, our independent registered public accounting firm, or whether our stockholders have approved the compensation of the named executive officers on a non-binding 4 advisory basis.”.

b. Approved under the standard stated in the filing — “Abstentions will not be counted toward the tabulation of votes cast on this proposal and will have no effect on the 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
Theodore R. SchroederIndependent · Audit · Partial-year service · Newly elected$44,863$88,725$108,721$0$0$242,309
Michael F. ColaIndependent · Board Chair · Compensation (Chair) · Nominating/Governance · Partial-year service110,00051,97562,77800224,753
Heidi KunzIndependent · Audit (Chair) · Partial-year service71,66751,97562,77800186,420
Asit ParikhIndependent · Compensation · Nominating/Governance (Chair) · Partial-year service67,50051,97562,77800182,253
Frank KarbeIndependent · Audit · Partial-year service61,66751,97562,77800176,420
Mark StenhouseIndependent · Compensation · Partial-year service59,16751,97562,77800173,920
James TopperIndependent · Nominating/Governance · Partial-year service55,00051,97562,77800169,753
David SocksNot independent · Compensation · Not standing for re-election28,3330028,333
Steven BastaEmployee director · Partial-year service · Newly elected000000
09

Board fee structure and ownership guideline

Annual cash retainer$50,000
Annual equity retainer$229,430
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)20,000 / 15,000 / 10,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$498,197
Equity awards (grant-date value)$400,575
All other compensation$0
Total cost of the board$898,772

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 Phathom Pharmaceuticals, Inc. 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 Phathom Pharmaceuticals, Inc..

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
1Cogent Biosciences, Inc.2025Andrew Robbins$724,554$12,993,250$13,447,680$561,600$27,762,684
2Rhythm Pharmaceuticals, Inc.2025David Meeker807,6928,274,7857,688,560759,48817,544,525
3Biohaven Ltd.2025Vlad Coric920,4002,202,4809,900,043013,500,438
4Protagonist Therapeutics, Inc.2025Dinesh Patel715,5005,839,2045,618,010686,88012,871,506
5Crinetics Pharmaceuticals, Inc.2025R. Scott Struthers718,5003,280,5407,160,564462,35511,628,959
6Mirum Pharmaceuticals, Inc.2025Christopher Peetz755,0003,683,9044,931,3201,057,00010,441,224
7Revance Therapeutics, Inc.2023Mark Foley720,0008,810,7310522,72010,068,915
8Arcus Biosciences, Inc.2025Terry Rosen775,0002,199,4506,008,860658,7509,656,813
9Travere Therapeutics, Inc.2025Eric Dube854,2503,314,5203,309,384964,1258,457,151
10Ardelyx, Inc.2025Michael Raab797,0002,953,7243,413,948627,6387,796,171
11Arcutis Biotherapeutics, Inc.2025Todd Franklin Watanabe713,3332,067,1903,848,958579,5847,223,065
12Syndax Pharmaceuticals, Inc.2025Michael Metzger754,3002,021,9653,454,360848,5887,089,213
13Phathom Pharmaceuticals, Inc.2025Steven Basta525,0001,986,6003,983,144455,7016,968,070
14KalVista Pharmaceuticals, Inc.2024Benjamin Palleiko580,4415,486,659302,46806,772,197
15Tarsus Pharmaceuticals, Inc.2025Bobak Azamian726,3332,648,2842,651,487555,7006,617,979
16Evolus, Inc.2025David Moatazedi775,0003,886,5691,296,697429,0006,412,214
17Deciphera Pharmaceuticals, Inc.2023Steven Hoerter738,2001,935,0002,837,100487,2126,010,712
18Humacyte, Inc.2025Laura Niklason633,60604,332,72505,234,908
19Xeris Biopharma Holdings, Inc.2025John Shannon742,3342,848,000838,615607,9715,042,584
20Kura Oncology, Inc.2025Troy Wilson700,00003,297,250630,0004,735,016
21UroGen Pharma Ltd.2025Elizabeth Barrett855,5902,122,2110516,2634,310,624
22REGENXBIO Inc.2025Curran Simpson665,510777,4482,350,302387,3274,200,712
23Nuvation Bio Inc.2025David Hung650,01602,674,636536,2503,876,736
24Esperion Therapeutics, Inc.2025Sheldon Koenig770,8331,260,000847,929639,3753,535,512
25Rocket Pharmaceuticals, Inc.2025Gaurav Shah671,076806,7511,613,377403,0483,510,241
26Aclaris Therapeutics, Inc.2025Neal Walker615,000828,4261,581,615350,5503,375,591
27Coherus Biosciences, Inc.2025Dennis Lanfear1,026,5450828,130869,2952,736,874
28Ironwood Pharmaceuticals, Inc.2025Thomas McCourt867,568411,6960650,6761,948,390
29Seres Therapeutics, Inc.2025Eric Shaff408,33301,338,87001,775,549
30Collegium Pharmaceuticals, Inc.2025Vikram Karnani875,00000835,4061,715,846
Intercept Pharmaceuticals, Inc.not 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
Phathom Pharmaceuticals, Inc.124%not disclosedNoPay Governance LLC
Aclaris Therapeutics, Inc.not disclosednot disclosednot disclosedPearl Meyer
Arcus Biosciences, Inc.100%Options 67 · RSU 33not disclosedRadford
Arcutis Biotherapeutics, Inc.125%not disclosedNoPay Governance
Ardelyx, Inc.105%Options 50 · RSU 50not disclosedPearl Meyer
Biohaven Ltd.67%not disclosednot disclosedAon Human Capital Solutions
Cogent Biosciences, Inc.135%not disclosedNoCompensia
Coherus Biosciences, Inc.not disclosedOptions 100not disclosedAon
Collegium Pharmaceuticals, Inc.127.3%RSU 70 · PSU 30Yes — relative ranking of the total shareholder return (TSR) of the Company's common stock in 2025, 2026, 2027 and the cumulative three-year performance period (2025-2027) return relative to the TSR of peer companies within the S&P Pharmaceutical Select Industry IndexAlpine Rewards, LLC
Crinetics Pharmaceuticals, Inc.not disclosedOptions 70 · RSU 30not disclosedPearl Meyer
Deciphera Pharmaceuticals, Inc.110%Options 50 · PSU 50NoPearl Meyer & Partners, LLC
Esperion Therapeutics, Inc.110%not disclosednot disclosednot disclosed
Evolus, Inc.55%not disclosedNoRadford, an Aon Company
Humacyte, Inc.80%not disclosednot disclosedAon plc
Intercept Pharmaceuticals, Inc.not disclosednot disclosednot disclosednot disclosed
Ironwood Pharmaceuticals, Inc.100%PSU 50 · RSU 50Yes — relative total stockholder return (rTSR)Alpine Rewards LLC
KalVista Pharmaceuticals, Inc.not disclosednot disclosedNoAon
Kura Oncology, Inc.150%not disclosedNoAlpine Rewards
Mirum Pharmaceuticals, Inc.200%not disclosedNoAlpine Rewards
Nuvation Bio Inc.not disclosedOptions 100not disclosedFW Cook
Protagonist Therapeutics, Inc.160%Options 50 · RSU 50not disclosedAon Human Capital Solutions
REGENXBIO Inc.97%Options 75 · RSU 25not disclosedWillis Towers Watson
Revance Therapeutics, Inc.96.8%PSU 100NoFW Cook
Rhythm Pharmaceuticals, Inc.120%Options 50 · RSU 50NoPay Governance LLC
Rocket Pharmaceuticals, Inc.not disclosednot disclosednot disclosedSemler Brossy
Seres Therapeutics, Inc.not disclosedOptions 100not disclosedAlpine Rewards, LLC
Syndax Pharmaceuticals, Inc.150%Options 34 · PSU 33 · RSU 33Yes — Company's three-year total shareholder return (TSR) as measured against the Nasdaq Biotechnology Index components TSRsAon
Tarsus Pharmaceuticals, Inc.108%Options 50 · RSU 50NoPay Governance
Travere Therapeutics, Inc.150%not disclosedNoAon
UroGen Pharma Ltd.80%RSU 50 · PSU 50NoCompensia, Inc.
Xeris Biopharma Holdings, Inc.125%not disclosednot disclosedAon Consulting, Inc.

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.

FAQ

Frequently asked questions

Who was the highest-paid executive at Phathom Pharmaceuticals, Inc. in fiscal 2025?
Steven Basta, President and Chief Executive Officer, was the highest-paid executive at Phathom Pharmaceuticals, Inc. in fiscal 2025 with total compensation of $6,968,070.
How does Phathom Pharmaceuticals, Inc.'s chief executive pay compare to its disclosed peer group?
The company reported that the CEO's pay fell in the 44th percentile of the disclosed peer group.
What is Phathom Pharmaceuticals, Inc.'s CEO-to-median employee pay ratio?
The CEO-to-median employee pay ratio was not disclosed in this extract.
How did shareholders vote on Phathom Pharmaceuticals, Inc.'s executive compensation?
Shareholders voted 94.61% in support of the executive compensation plan.
How much does Phathom Pharmaceuticals, Inc. spend in total on board compensation for fiscal 2025?
Total board compensation for fiscal 2025 was $898,772.

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, Steven BastaDEF 14A2026-04-070001193125-26-144570Section “Summary Compensation Table”. As printed: 6,968,070. Filing ↗machine: r2 · c21 · span 619155–619164
2Section 01, Terrie CurranDEF 14A2026-04-070001193125-26-144570Section “Summary Compensation Table”. As printed: 4,936,791. Filing ↗machine: r11 · c21 · span 675346–675355
3Section 01, Sanjeev NarulaDEF 14A2026-04-070001193125-26-144570Section “Summary Compensation Table”. As printed: 3,617,962. Filing ↗machine: r5 · c21 · span 637886–637895
4Section 01, Azmi NabulsiDEF 14A2026-04-070001193125-26-144570Section “Summary Compensation Table”. As printed: 2,714,314. Filing ↗machine: t15 · r14 · c21 · span 697070–697079
5Section 01, Anne Marie CookDEF 14A2026-04-070001193125-26-144570Section “Summary Compensation Table”. As printed: 2,100,002. Filing ↗machine: r8 · c21 · span 656617–656626
6Section 03, Steven Basta PSUDEF 14A2026-04-070001193125-26-144570Section “LOSED IN THIS PROXY STATEMENT PURSUANT TO THE COMPENSATION DISCLOSURE RULES OF THE SEC. &” · grants of plan-based awards table. Filing ↗machine: span 856694–856701
7Section 03, Anne Marie Cook PSUDEF 14A2026-04-070001193125-26-144570Section “LOSED IN THIS PROXY STATEMENT PURSUANT TO THE COMPENSATION DISCLOSURE RULES OF THE SEC. &” · grants of plan-based awards table. Filing ↗machine: span 856820–856826
8Section 03, Sanjeev Narula RSUDEF 14A2026-04-070001193125-26-144570Section “LOSED IN THIS PROXY STATEMENT PURSUANT TO THE COMPENSATION DISCLOSURE RULES OF THE SEC. &” · grants of plan-based awards table. Filing ↗machine: span 855358–855365
9Section 03, Terrie Curran PSUDEF 14A2026-04-070001193125-26-144570Section “LOSED IN THIS PROXY STATEMENT PURSUANT TO THE COMPENSATION DISCLOSURE RULES OF THE SEC. &” · grants of plan-based awards table. Filing ↗machine: span 856536–856543
10Section 03, Azmi Nabulsi RSUDEF 14ASection “Executive Compensation” · grants of plan-based awards table.
11Section 07, pay ratio10-K2026-02-260001193125-26-073379Section “CEO Pay Ratio”. As printed: —. Filing ↗
12Section 08, Theodore R. SchroederDEF 14A2026-04-060001193125-26-144570Section “Director Compensation”. As printed: 242,309. Filing ↗machine: t9 · r9 · c19 · span 380700–380707
13Section 08, Michael F. ColaDEF 14A2026-04-060001193125-26-144570Section “Director Compensation”. As printed: 224,753. Filing ↗machine: t9 · r2 · c19 · span 328902–328909
14Section 08, Heidi KunzDEF 14A2026-04-060001193125-26-144570Section “Director Compensation”. As printed: 186,420. Filing ↗machine: t9 · r4 · c19 · span 343611–343618
15Section 08, Asit ParikhDEF 14A2026-04-060001193125-26-144570Section “Director Compensation”. As printed: 182,253. Filing ↗
16Section 08, Frank KarbeDEF 14A2026-04-060001193125-26-144570Section “Director Compensation”. As printed: 176,420. Filing ↗machine: t9 · r3 · c19 · span 336257–336264
17Section 08, Mark StenhouseDEF 14A2026-04-060001193125-26-144570Section “Director Compensation”. As printed: 173,920. Filing ↗machine: t9 · r7 · c19 · span 365691–365698
18Section 08, James TopperDEF 14A2026-04-060001193125-26-144570Section “Director Compensation”. As printed: 169,753. Filing ↗
19Section 08, David SocksDEF 14A2026-04-060001193125-26-144570Section “Director Compensation”. As printed: 28,333. Filing ↗machine: t9 · r6 · c3 · span 352817–352823
20Section 08, Steven BastaDEF 14A2026-04-060001193125-26-144570Section “Director Compensation”. As printed: 0. Filing ↗
21Section 02, Mark Stenhouse 2026-05-19Form 42026-05-210001193125-26-234568Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, James Topper 2026-05-19Form 42026-05-210001193125-26-234572Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Michael F. Cola 2026-05-19Form 42026-05-210001193125-26-234566Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Heidi Fields 2026-05-19Form 42026-05-210001193125-26-234567Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Asit Parikh 2026-05-19Form 42026-05-210001193125-26-234891Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Asit Parikh 2026-05-19Form 42026-05-210001193125-26-234891Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Frank Karbe 2026-05-19Form 42026-05-210001193125-26-234564Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Theodore R. Schroeder 2026-05-19Form 42026-05-210001193125-26-234563Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Asit Parikh 2026-05-19Form 42026-05-210001193125-26-234891Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Asit Parikh 2026-05-22Form 42026-05-270001193125-26-241984Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Asit Parikh 2026-05-22Form 42026-05-270001193125-26-241984Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Robert Charles Breedlove 2026-07-14Form 42026-07-160001193125-26-306165Insider equity transaction reported since the proxy statement. Filing ↗
33Section 06, 2026 voteForm 8-K2026-05-210001193125-26-234379Item 5.07 · say-on-pay result. As reported: 94.61% (votes for as printed: 44,449,761). Filing ↗
34Section 06, 2025 voteForm 8-K2025-06-090001193125-25-137800Item 5.07 · say-on-pay result. As reported: 73.85% (votes for as printed: 24,584,781). Filing ↗
35Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
36Section 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
37Section 09b board cost (computed)ComputedcomputedCash 498,197 + equity 400,575 + all other 0 = 898,772, summed across the director compensation table rows.machine: formula: Σ = 898,772
38Cogent Biosciences, Inc., Section 10b CEO totalDEF 14A2026-04-230001193125-26-173834CEO total compensation as printed in Cogent Biosciences, Inc.'s own proxy. As printed: 27,762,684. Filing ↗machine: r2 · c39 · span 369353–369363
39Rhythm Pharmaceuticals, Inc., Section 10b CEO totalDEF 14A2026-04-290001628280-26-028375CEO total compensation as printed in Rhythm Pharmaceuticals, Inc.'s own proxy. As printed: 17,544,525. Filing ↗machine: r2 · c42 · span 513064–513074
40Biohaven Ltd., Section 10b CEO totalDEF 14A2026-03-130001935979-26-000028CEO total compensation as printed in Biohaven Ltd.'s own proxy. As printed: 13,500,438. Filing ↗machine: t25 · r3 · c7 · span 423429–423439
41Protagonist Therapeutics, Inc., Section 10b CEO totalDEF 14A2026-04-280001104659-26-050429CEO total compensation as printed in Protagonist Therapeutics, Inc.'s own proxy. As printed: 12,871,506. Filing ↗machine: r1 · c47 · span 613195–613205
42Crinetics Pharmaceuticals, Inc., Section 10b CEO totalDEF 14A2026-04-290001658247-26-000030CEO total compensation as printed in Crinetics Pharmaceuticals, Inc.'s own proxy. As printed: 11,628,959. Filing ↗machine: r2 · c48 · span 589450–589460
43Mirum Pharmaceuticals, Inc., Section 10b CEO totalDEF 14A2026-04-230001759425-26-000027CEO total compensation as printed in Mirum Pharmaceuticals, Inc.'s own proxy. As printed: 10,441,224. Filing ↗machine: r2 · c21 · span 580200–580210
44Revance Therapeutics, Inc., Section 10b CEO totalDEF 14A2024-03-210001479290-24-000071CEO total compensation as printed in Revance Therapeutics, Inc.'s own proxy. As printed: 10,068,915. Filing ↗machine: span 884809–884819
45Arcus Biosciences, Inc., Section 10b CEO totalDEF 14A2026-04-210001724521-26-000025CEO total compensation as printed in Arcus Biosciences, Inc.'s own proxy. As printed: 9,656,813. Filing ↗machine: r2 · c48 · span 403740–403749
46Travere Therapeutics, Inc., Section 10b CEO totalDEF 14A2026-04-060001438533-26-000027CEO total compensation as printed in Travere Therapeutics, Inc.'s own proxy. As printed: 8,457,151. Filing ↗machine: span 558514–558523
47Ardelyx, Inc., Section 10b CEO totalDEF 14A2026-04-290001140361-26-017800CEO total compensation as printed in Ardelyx, Inc.'s own proxy. As printed: 7,796,171. Filing ↗machine: r2 · c25 · span 677112–677121
48Arcutis Biotherapeutics, Inc., Section 10b CEO totalDEF 14A2026-04-210001787306-26-000028CEO total compensation as printed in Arcutis Biotherapeutics, Inc.'s own proxy. As printed: 7,223,065. Filing ↗machine: r2 · c42 · span 646815–646824
49Syndax Pharmaceuticals, Inc., Section 10b CEO totalDEF 14A2026-04-300001193125-26-197859CEO total compensation as printed in Syndax Pharmaceuticals, Inc.'s own proxy. As printed: 7,089,213. Filing ↗machine: span 936322–936331
50Phathom Pharmaceuticals, Inc. (subject), Section 10b CEO totalDEF 14A2026-04-070001193125-26-144570CEO total compensation as printed in Phathom Pharmaceuticals, Inc.'s own proxy. As printed: 6,968,070. Filing ↗machine: r2 · c21 · span 619155–619164
51KalVista Pharmaceuticals, Inc., Section 10b CEO totalDEF 14A2025-08-210001193125-25-185353CEO total compensation as printed in KalVista Pharmaceuticals, Inc.'s own proxy. As printed: 6,772,197. Filing ↗machine: span 291290–291299
52Tarsus Pharmaceuticals, Inc., Section 10b CEO totalDEF 14A2026-04-280001819790-26-000028CEO total compensation as printed in Tarsus Pharmaceuticals, Inc.'s own proxy. As printed: 6,617,979. Filing ↗machine: span 448592–448601
53Evolus, Inc., Section 10b CEO totalDEF 14A2026-04-290001570562-26-000059CEO total compensation as printed in Evolus, Inc.'s own proxy. As printed: 6,412,214. Filing ↗machine: span 499358–499367
54Deciphera Pharmaceuticals, Inc., Section 10b CEO totalDEF 14A2024-04-250001654151-24-000012CEO total compensation as printed in Deciphera Pharmaceuticals, Inc.'s own proxy. As printed: 6,010,712. Filing ↗machine: span 605886–605895
55Humacyte, Inc., Section 10b CEO totalDEF 14A2026-04-280001193125-26-187449CEO total compensation as printed in Humacyte, Inc.'s own proxy. As printed: 5,234,908. Filing ↗machine: span 346967–346976
56Xeris Biopharma Holdings, Inc., Section 10b CEO totalDEF 14A2026-04-230001867096-26-000021CEO total compensation as printed in Xeris Biopharma Holdings, Inc.'s own proxy. As printed: 5,042,584. Filing ↗machine: r3 · c42 · span 463532–463541
57Kura Oncology, Inc., Section 10b CEO totalDEF 14A2026-04-100001193125-26-151335CEO total compensation as printed in Kura Oncology, Inc.'s own proxy. As printed: 4,735,016. Filing ↗machine: t27 · r2 · c14 · span 1018180–1018189
58UroGen Pharma Ltd., Section 10b CEO totalDEF 14A2026-04-300001437749-26-014237CEO total compensation as printed in UroGen Pharma Ltd.'s own proxy. As printed: 4,310,624. Filing ↗machine: r1 · c29 · span 562926–562935
59REGENXBIO Inc., Section 10b CEO totalDEF 14A2026-04-140001193125-26-155058CEO total compensation as printed in REGENXBIO Inc.'s own proxy. As printed: 4,200,712. Filing ↗machine: r2 · c16 · span 436444–436453
60Nuvation Bio Inc., Section 10b CEO totalDEF 14A2026-04-100001140361-26-014157CEO total compensation as printed in Nuvation Bio Inc.'s own proxy. As printed: 3,876,736. Filing ↗machine: r2 · c21 · span 357089–357099
61Esperion Therapeutics, Inc., Section 10b CEO totalDEF 14A2026-04-160001628280-26-025499CEO total compensation as printed in Esperion Therapeutics, Inc.'s own proxy. As printed: 3,535,512. Filing ↗machine: span 423838–423847
62Rocket Pharmaceuticals, Inc., Section 10b CEO totalDEF 14A2026-04-060001140361-26-013335CEO total compensation as printed in Rocket Pharmaceuticals, Inc.'s own proxy. As printed: 3,510,241. Filing ↗machine: r2 · c24 · span 348766–348775
63Aclaris Therapeutics, Inc., Section 10b CEO totalDEF 14A2026-04-230001104659-26-047262CEO total compensation as printed in Aclaris Therapeutics, Inc.'s own proxy. As printed: 3,375,591. Filing ↗machine: r2 · c14 · span 317880–317889
64Coherus Biosciences, Inc., Section 10b CEO totalDEF 14A2026-04-200001104659-26-045251CEO total compensation as printed in Coherus Biosciences, Inc.'s own proxy. As printed: 2,736,874. Filing ↗machine: t112 · r5 · c14 · span 540087–540096
65Ironwood Pharmaceuticals, Inc., Section 10b CEO totalDEF 14A2026-04-280001104659-26-050325CEO total compensation as printed in Ironwood Pharmaceuticals, Inc.'s own proxy. As printed: 1,948,390. Filing ↗machine: t29 · r1 · c48 · span 584182–584191
66Seres Therapeutics, Inc., Section 10b CEO totalDEF 14A2026-04-270001193125-26-182036CEO total compensation as printed in Seres Therapeutics, Inc.'s own proxy. As printed: 1,775,549. Filing ↗machine: r2 · c29 · span 928055–928064
67Collegium Pharmaceuticals, Inc., Section 10b CEO totalDEF 14A2026-04-070001628280-26-024063CEO total compensation as printed in Collegium Pharmaceuticals, Inc.'s own proxy. As printed: 1,715,846. Filing ↗machine: r2 · c48 · span 779394–779403
68Section 10a, Travere Therapeutics, Inc. reciprocityDEF 14A0001438533-26-000027Travere Therapeutics, Inc. names Phathom Pharmaceuticals, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
69Section 10a, Mirum Pharmaceuticals, Inc. reciprocityDEF 14A0001759425-26-000027Mirum Pharmaceuticals, Inc.'s most recent proxy was read; its disclosed peer group does not include Phathom Pharmaceuticals, Inc.. Filing ↗
70Section 10a, Deciphera Pharmaceuticals, Inc. reciprocityDEF 14A0001654151-24-000012Deciphera Pharmaceuticals, Inc.'s most recent proxy was read; its disclosed peer group does not include Phathom Pharmaceuticals, Inc.. Filing ↗
71Section 10a, Syndax Pharmaceuticals, Inc. reciprocityDEF 14A0001193125-26-197859Syndax Pharmaceuticals, Inc.'s most recent proxy was read; its disclosed peer group does not include Phathom Pharmaceuticals, Inc.. Filing ↗
72Section 10a, Protagonist Therapeutics, Inc. reciprocityDEF 14A0001104659-26-050429Protagonist Therapeutics, Inc.'s most recent proxy was read; its disclosed peer group does not include Phathom Pharmaceuticals, Inc.. Filing ↗
73Section 10a, Collegium Pharmaceuticals, Inc. reciprocityDEF 14A0001628280-26-024063Collegium Pharmaceuticals, Inc.'s most recent proxy was read; its disclosed peer group does not include Phathom Pharmaceuticals, Inc.. Filing ↗
74Section 10a, Kura Oncology, Inc. reciprocityDEF 14A0001193125-26-151335Kura Oncology, Inc.'s most recent proxy was read; its disclosed peer group does not include Phathom Pharmaceuticals, Inc.. Filing ↗
75Section 10a, Rhythm Pharmaceuticals, Inc. reciprocityDEF 14A0001628280-26-028375Rhythm Pharmaceuticals, Inc.'s most recent proxy was read; its disclosed peer group does not include Phathom Pharmaceuticals, Inc.. Filing ↗
76Section 10a, Xeris Biopharma Holdings, Inc. reciprocityDEF 14A0001867096-26-000021Xeris Biopharma Holdings, Inc.'s most recent proxy was read; its disclosed peer group does not include Phathom Pharmaceuticals, Inc.. Filing ↗
77Section 10a, Biohaven Ltd. reciprocityDEF 14A0001935979-26-000028Biohaven Ltd.'s most recent proxy was read; its disclosed peer group does not include Phathom Pharmaceuticals, Inc.. Filing ↗
78Section 10a, Cogent Biosciences, Inc. reciprocityDEF 14A0001193125-26-173834Cogent Biosciences, Inc.'s most recent proxy was read; its disclosed peer group does not include Phathom Pharmaceuticals, Inc.. Filing ↗
79Section 10a, Humacyte, Inc. reciprocityDEF 14A0001193125-26-187449Humacyte, Inc.'s most recent proxy was read; its disclosed peer group does not include Phathom Pharmaceuticals, Inc.. Filing ↗
80Section 10a, UroGen Pharma Ltd. reciprocityDEF 14A0001437749-26-014237UroGen Pharma Ltd.'s most recent proxy was read; its disclosed peer group does not include Phathom Pharmaceuticals, Inc.. Filing ↗
81Section 10a, Ardelyx, Inc. reciprocityDEF 14A0001140361-26-017800Ardelyx, Inc.'s most recent proxy was read; its disclosed peer group does not include Phathom Pharmaceuticals, Inc.. Filing ↗
82Section 10a, Revance Therapeutics, Inc. reciprocityDEF 14A0001479290-24-000071Revance Therapeutics, Inc.'s most recent proxy was read; its disclosed peer group does not include Phathom Pharmaceuticals, Inc.. Filing ↗
83Section 10a, Evolus, Inc. reciprocityDEF 14A0001570562-26-000059Evolus, Inc.'s most recent proxy was read; its disclosed peer group does not include Phathom Pharmaceuticals, Inc.. Filing ↗
84Section 10a, Tarsus Pharmaceuticals, Inc. reciprocityDEF 14A0001819790-26-000028Tarsus Pharmaceuticals, Inc.'s most recent proxy was read; its disclosed peer group does not include Phathom Pharmaceuticals, Inc.. Filing ↗
85Section 10a, Arcutis Biotherapeutics, Inc. reciprocityDEF 14A0001787306-26-000028Arcutis Biotherapeutics, Inc. names Phathom Pharmaceuticals, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
86Section 10a, Coherus Biosciences, Inc. reciprocityDEF 14A0001104659-26-045251Coherus Biosciences, Inc.'s most recent proxy was read; its disclosed peer group does not include Phathom Pharmaceuticals, Inc.. Filing ↗
87Section 10a, Seres Therapeutics, Inc. reciprocityDEF 14A0001193125-26-182036Seres Therapeutics, Inc.'s most recent proxy was read; its disclosed peer group does not include Phathom Pharmaceuticals, Inc.. Filing ↗
88Section 10a, Crinetics Pharmaceuticals, Inc. reciprocityDEF 14A0001658247-26-000030Crinetics Pharmaceuticals, Inc.'s most recent proxy was read; its disclosed peer group does not include Phathom Pharmaceuticals, Inc.. Filing ↗