CEO Wesley Kaupinen was paid $3,404,904 in fiscal year 2025, ↓ down 37.4% from fiscal year 2024 (SEC filing 0001104659-26-052875 ↗): 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.
$3,404,904 ↓ Wesley Kaupinen total, FY2025 | — CEO pay percentile vs peers | — CEO-to-median pay ratio | 98.42% 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 |
|---|---|---|---|---|---|---|---|---|
| Wesley Kaupinen | $575,000 | $0 | $0 | $2,469,886 | $359,375 | $0 | $643 | $3,404,904 |
| President and Chief Executive Officer | ||||||||
| Kathleen Goin | 481,300 | 0 | 0 | 1,306,017 | 192,520 | 0 | 0 | 1,979,837 |
| Chief Operating Officer | ||||||||
| Matthew Korenberg | 475,300 | 0 | 0 | 1,306,017 | 190,120 | 0 | 0 | 1,971,437 |
| Chief Financial 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 |
|---|---|---|---|---|
| Wesley Kaupinen | $3,404,904 | $5,436,064 | $585,963 | ↓ −2,031,160 |
| Kathleen Goin | 1,979,837 | 1,124,572 | 1,345,807 | ↑ +855,265 |
| Matthew Korenberg | 1,971,437 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2025 total |
|---|---|---|
| Christopher Kiritsy | Independent Director | $267,255 |
| Elaine J. Heron, Ph.D | Independent Director | $271,255 |
| George M. Jenkins | Chair of the Board | $303,255 |
| John Doux, M.D | Independent Director | — |
| Tadd S. Wessel | Independent Director | $264,755 |
| Todd C. Davis | Independent Director | $269,755 |
No insider equity transactions reported since the proxy statement.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Wesley Kaupinen | Option | 6,252 | 9.79 | — |
| Wesley Kaupinen | Option | 45,821 | 7.53 | — |
| Wesley Kaupinen | Option | 313,355 | 13.6 | — |
| Wesley Kaupinen | Option | 193,033 | 14.76 | — |
| Kathleen Goin | Option | 28,055 | 9.79 | — |
| Kathleen Goin | Option | 16,756 | 7.53 | — |
| Kathleen Goin | Option | 20,883 | 13.6 | — |
| Kathleen Goin | Option | 102,072 | 14.76 | — |
| Matthew Korenberg | Option | 118,363 | 13.6 | — |
| Matthew Korenberg | Option | 102,072 | 14.76 | — |
The company provides base salary, annual performance-based cash bonus opportunities, and other benefits to attract and retain named executive officers.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-04-13 | 10,008,180 | 160,717 | 7,157 | 98.42% | Passed |
| 2025 | 2025-06-10 | 6,550,393 | 61,078 | 36,866 | 99.08% | Passed |
| 2024 | 2024-12-02 | 604,490 | 6,678 | 634 | 98.91% | Passed |
| 2023 | 2023-06-21 | 17,227,404 | 2,828,509 | 5,556,466 | 85.9% | Passed |
| 2022 | 2022-06-22 | 30,353,634 | 1,565,728 | 390,087 | 95.09% | Passed |
| 2021 | 2021-06-25 | 26,115,252 | 2,718,810 | 3,646,312 | 90.57% | 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 | 2026-04-13 | 98.42%a |
| 2025 | 2025-06-10 | 99.08%b |
| 2024 | 2024-12-02 | 98.91%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 — “If a broker does not exercise this authority, such broker non-votes, as well as abstentions, will be counted as present for purposes of determining the presence of a quorum, but will have no effect on the results of this vote.”.
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.
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| George M. JenkinsIndependent · Board Chair · Audit (Chair) · Compensation | $87,500 | $0 | $215,755 | — | $0 | $303,255 |
| Elaine J. Heron, Ph.DIndependent · Audit · Nominating/Governance (Chair) | 55,500 | 0 | 215,755 | — | 0 | 271,255 |
| Todd C. DavisIndependent · Compensation (Chair) · Nominating/Governance | 54,000 | 0 | 215,755 | — | 0 | 269,755 |
| Christopher KiritsyIndependent · Audit · Nominating/Governance | 51,500 | 0 | 215,755 | — | 0 | 267,255 |
| Tadd S. WesselIndependent · Compensation · Nominating/Governance | 49,000 | 0 | 215,755 | — | 0 | 264,755 |
| John Doux, M.DIndependent · Newly elected | 0 | 0 | 0 | — | 0 | 0 |
| Wesley H. KaupinenEmployee director · NCGC | — | — | — | — | — | 0 |
| Annual cash retainer | $40,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 15,000 / 10,000 / 8,000 |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $297,500 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $0 |
| Total cost of the board | $297,500 |
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 | Palvella Therapeutics | 2025 | Wesley Kaupinen | $575,000 | $0 | $2,469,886 | $359,375 | $3,404,904 |
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, Wesley Kaupinen | DEF 14A | 2026-04-30 | 0001104659-26-052875 | Section “SUMMARY COMPENSATION TABLE”. As printed: 3,404,904. Filing ↗machine: r1 · c42 · span 541058–541067 |
| 2 | Section 01, Kathleen Goin | DEF 14A | 2026-04-30 | 0001104659-26-052875 | Section “SUMMARY COMPENSATION TABLE”. As printed: 1,979,837. Filing ↗machine: r3 · c42 · span 552071–552080 |
| 3 | Section 01, Matthew Korenberg | DEF 14A | 2026-04-30 | 0001104659-26-052875 | Section “SUMMARY COMPENSATION TABLE”. As printed: 1,971,437. Filing ↗machine: r5 · c42 · span 563150–563159 |
| 4 | Section 08, George M. Jenkins | DEF 14A | 2026-04-30 | 0001104659-26-052875 | Section “Director Compensation”. As printed: 303,255. Filing ↗machine: span 469396–469403 |
| 5 | Section 08, Elaine J. Heron, Ph.D | DEF 14A | 2026-04-30 | 0001104659-26-052875 | Section “Director Compensation”. As printed: 271,255. Filing ↗machine: span 478585–478592 |
| 6 | Section 08, Todd C. Davis | DEF 14A | 2026-04-30 | 0001104659-26-052875 | Section “Director Compensation”. As printed: 269,755. Filing ↗machine: span 471538–471545 |
| 7 | Section 08, Christopher Kiritsy | DEF 14A | 2026-04-30 | 0001104659-26-052875 | Section “Director Compensation”. As printed: 267,255. Filing ↗machine: span 473995–474002 |
| 8 | Section 08, Tadd S. Wessel | DEF 14A | 2026-04-30 | 0001104659-26-052875 | Section “Director Compensation”. As printed: 264,755. Filing ↗machine: span 476124–476132 |
| 9 | Section 08, John Doux, M.D | DEF 14A | 2026-04-30 | 0001104659-26-052875 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 10 | Section 08, Wesley H. Kaupinen | DEF 14A | 2026-04-30 | 0001104659-26-052875 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 11 | Section 06, 2026 vote | Form 8-K | 2026-06-16 | 0001104659-26-074338 | Item 5.07 · say-on-pay result. As reported: 98.42% (votes for as printed: 10,008,180). Filing ↗ |
| 12 | Section 06, 2025 vote | Form 8-K | 2025-06-11 | 0001104659-25-058532 | Item 5.07 · say-on-pay result. As reported: 99.08% (votes for as printed: 6,550,393). Filing ↗ |
| 13 | Section 06, 2024 vote | Form 8-K | 2024-12-03 | 0001437749-24-036506 | Item 5.07 · say-on-pay result. As reported: 98.91% (votes for as printed: 604,490). Filing ↗ |
| 14 | 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) |
| 15 | Section 09b board cost (computed) | Computed | — | — | Cash 297,500 + equity 0 + all other 0 = 297,500, summed across the director compensation table rows.machine: formula: Σ = 297,500 |
| 16 | Palvella Therapeutics (subject), Section 10b CEO total | DEF 14A | 2026-04-30 | 0001104659-26-052875 | CEO total compensation as printed in Palvella Therapeutics's own proxy. As printed: 3,404,904. Filing ↗machine: r1 · c42 · span 541058–541067 |