Companies Soleno Therapeutics Inc
Soleno Therapeutics (SLNO): executive pay, fiscal 2025
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CEO pay, last three years
- $4,116,434FY2023
- $51,160,430FY2024
- $8,872,611FY2025
CEO total pay was $8,872,611 in fiscal 2025, down from $51,160,430 in fiscal 2024.
FY2025: salary $739,000 · bonus $0 · stock awards $2,650,263 · option awards $4,991,608
Executives and directors
Frequently asked questions
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.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Anish Bhatnagar | $739,000 | $0 | $2,650,263 | $4,991,608 | $487,740 | $0 | $4,000 | $8,872,611 |
| CEO and Chairman of the Board | ||||||||
| Manher Joshi | 72,917 | 0 | 744,248 | 2,904,411 | 0 | 0 | — | 3,721,576 |
| Chief Development Officer | ||||||||
| Kevin Norrett | 59,275 | 0 | 675,014 | 2,633,797 | 0 | 0 | 150 | 3,369,336 |
| Chief Business Officer | ||||||||
| James Mackaness | 511,000 | 0 | 712,965 | 1,338,580 | 218,708 | 0 | 5,200 | 2,786,453 |
| Former Chief Financial Officer | ||||||||
| Meredith Manning | 471,000 | 0 | 668,712 | 1,260,856 | 201,588 | 0 | 4,000 | 2,606,156 |
| Chief Commercial 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 officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Anish Bhatnagar | $8,872,611 | $51,160,430 | $4,116,434 | ↓ −42,287,819 |
| Manher Joshi | 3,721,576 | — | — | — |
| Kevin Norrett | 3,369,336 | — | — | — |
| James Mackaness | 2,786,453 | 8,774,955 | 1,211,636 | ↓ −5,988,502 |
| Meredith Manning | 2,606,156 | 7,783,050 | — | ↓ −5,176,894 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
The company embraces a performance-oriented compensation philosophy focused on creating long-term value, heavily weighting variable, at-risk pay through short-term cash incentives and long-term equity awards to align executive interests with stockholder returns and drive the achievement of primary business goals.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Aon plc |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Anish Bhatnagar | OPTION | 2025-01-21 | — | — | 115,600 | — | $4,991,608 |
| Anish Bhatnagar | RSU | 2025-01-21 | — | — | 53,900 | — | 2,650,263 |
| Manher Joshi | OPTION | 2025-11-10 | — | — | 72,321 | — | 2,904,441 |
| Manher Joshi | RSU | 2025-11-10 | — | — | 16,071 | — | 744,248 |
| James Mackaness | OPTION | 2025-01-21 | — | — | 31,000 | — | 1,338,580 |
| James Mackaness | RSU | 2025-01-21 | — | — | 14,500 | — | 712,965 |
| Meredith Manning | OPTION | 2025-01-21 | — | — | 29,200 | — | 1,260,856 |
| Meredith Manning | RSU | 2025-01-21 | — | — | 13,600 | — | 668,712 |
| Kevin Norrett | OPTION | 2025-11-17 | — | — | 64,286 | — | 2,633,797 |
| Kevin Norrett | RSU | 2025-11-17 | — | — | 14,286 | — | 675,013 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Anish Bhatnagar | $2,650,263 | $0 | $4,991,608 | 0.0% |
| Manher Joshi | 744,248 | 0 | 2,904,441 | 0.0% |
| James Mackaness | 712,965 | 0 | 1,338,580 | 0.0% |
| Meredith Manning | 668,712 | 0 | 1,260,856 | 0.0% |
| Kevin Norrett | 675,013 | 0 | 2,633,797 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| James Mackaness | Option | 271 | 5.1 | — |
| Anish Bhatnagar | Option | 848 | 5.1 | — |
| James Mackaness | Option | 8,125 | 2.41 | — |
| James Mackaness | Option | 10,021 | 36.7 | — |
| Meredith Manning | RSU | 10,200 | — | 472,260 |
| James Mackaness | RSU | 10,875 | — | 503,513 |
| James Mackaness | Option | 12,119 | 5.25 | — |
| Kevin Norrett | RSU | 14,286 | — | 661,442 |
| Manher Joshi | RSU | 16,017 | — | 744,087 |
| Meredith Manning | PSU | 20,000 | — | 926,000 |
| Meredith Manning | Option | 22,509 | 49.17 | — |
| James Mackaness | Option | 23,896 | 49.17 | — |
| Anish Bhatnagar | Option | 27,084 | 36.7 | — |
| Anish Bhatnagar | Option | 31,146 | 2.41 | — |
| Anish Bhatnagar | RSU | 40,425 | — | 1,871,678 |
| Kevin Norrett | Option | 64,286 | 47.25 | — |
| Meredith Manning | Option | 66,667 | 46.31 | — |
| Anish Bhatnagar | Option | 66,918 | 5.25 | — |
| Manher Joshi | Option | 72,321 | 46.31 | — |
| Anish Bhatnagar | Option | 89,109 | 49.17 | — |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Mark HahnAudit · Compensation · Nominating and Corporate Governance · Partial-year service | $11,957 | $645,656 | — | — | — | $657,613 |
| Matthew PaulsIndependent · Lead Independent Director · Compensation (Chair) | 90,136 | 300,203 | — | — | — | 390,339 |
| William G. HarrisAudit · Compensation · Nominating and Corporate Governance | 65,999 | 300,203 | — | — | — | 366,202 |
| Birgitte VolckAudit · Nominating and Corporate Governance · Compensation | 60,272 | 300,203 | — | — | — | 360,475 |
| Dawn BirIndependent · Compensation | 50,408 | 300,203 | — | — | — | 350,611 |
| Andrew SinclairIndependent · Compensation | 0 | 300,203 | — | — | — | 300,203 |
Board fee structure and ownership guideline
| Annual cash retainer | — |
|---|---|
| Annual equity retainer | $300,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 15,000 / 10,000 |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $278,772 |
| Equity awards (grant-date value) | $2,146,671 |
| All other compensation | $0 |
| Total cost of the board | $2,425,443 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Soleno Therapeutics as a peer
Companies that benchmark against SLNO
5 companies name SLNO as a compensation peer
- AGIOS PHARMACEUTICALS, INC.AGIOFY2025
- LIGAND PHARMACEUTICALS INCLGNDFY2025
- Savara IncSVRAFY2025
- Vera Therapeutics, Inc.VERAFY2025
- Viridian Therapeutics, Inc.\DEVRDNFY2025
Each company listed discloses SLNO 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 SLNO in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
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.
Peer reciprocity
The companies Soleno Therapeutics Inc names as compensation peers that name it back in their own disclosed peer groups.
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.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Cogent Communications Holdings Inc. | 2025 | Dave Schaeffer | $0 | $24,836,176 | $0 | $530,243 | $25,372,519 |
| 2 | Rhythm Pharmaceuticals Inc. | 2025 | David Meeker | 807,692 | 8,274,785 | 7,688,560 | 759,488 | 17,544,525 |
| 3 | SpringWorks Therapeutics Inc. | 2024 | Saqib Islam | 760,000 | 7,899,760 | 6,689,100 | 798,000 | 16,153,317 |
| 4 | Protagonist Therapeutics Inc. | 2025 | Dinesh Patel | 715,500 | 5,839,204 | 5,618,010 | 686,880 | 12,871,506 |
| 5 | Crinetics Pharmaceuticals Inc. | 2025 | R. Scott Struthers | 718,500 | 3,280,540 | 7,160,564 | 462,355 | 11,628,959 |
| 6 | Mirum Pharmaceuticals Inc. | 2025 | Christopher Peetz | 755,000 | 3,683,904 | 4,931,320 | 1,057,000 | 10,441,224 |
| 7 | Geron Corporation | 2025 | Harout Semerjian | 321,538 | 0 | 9,695,400 | 203,000 | 10,221,755 |
| 8 | Arcus Biosciences Inc. | 2025 | Terry Rosen | 775,000 | 2,199,450 | 6,008,860 | 658,750 | 9,656,813 |
| 9 | Soleno Therapeutics Inc | 2025 | Anish Bhatnagar | 739,000 | 2,650,263 | 4,991,608 | 487,740 | 8,872,611 |
| 10 | Travere Therapeutics Inc. | 2025 | Eric Dube | 854,250 | 3,314,520 | 3,309,384 | 964,125 | 8,457,151 |
| 11 | Vir Biotechnology Inc. | 2025 | Marianne De Backer | 950,000 | 2,296,800 | 3,507,360 | 1,002,750 | 7,834,045 |
| 12 | Vera Therapeutics Inc. | 2025 | Marshall Fordyce | 660,000 | 2,356,285 | 3,415,725 | 554,400 | 6,986,410 |
| 13 | Viridian Therapeutics Inc. | 2025 | Stephen Mahoney | 700,000 | 1,058,098 | 4,381,713 | 630,000 | 6,776,249 |
| 14 | Pliant Therapeutics Inc. | 2025 | Bernard Coulie | 682,000 | 1,810,250 | 2,713,750 | 204,600 | 5,462,901 |
| 15 | Agios Pharmaceuticals Inc. | 2025 | Brian Goff | 846,864 | 1,291,680 | 2,627,252 | 592,804 | 5,370,389 |
| 16 | KalVista Pharmaceuticals Inc. | 2025 | Benjamin Palleiko | 688,272 | 3,731,160 | 0 | 0 | 5,094,999 |
| 17 | Regenxbio Inc. | 2025 | Curran Simpson | 665,510 | 777,448 | 2,350,302 | 387,327 | 4,200,712 |
| 18 | Alector Inc. | 2025 | Arnon Rosenthal | 678,100 | 422,876 | 558,216 | 325,488 | 1,995,018 |
| 19 | Iovance Biotherapeutics Inc. | 2025 | Frederick Vogt | 800,000 | 759,375 | 0 | 312,000 | 1,888,175 |
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.
Incentive design against the same peers
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Soleno Therapeutics Inc | not disclosed | Option 65 · RSU 35 | not disclosed | Aon plc |
| Agios Pharmaceuticals Inc. | 100% | Option 40 · PSU 40 · RSU 20 | No | Aon |
| Alector Inc. | 80% | not disclosed | not disclosed | Pearl Meyer & Partners, LLC |
| Arcus Biosciences Inc. | 100% | Options 67 · RSU 33 | not disclosed | Radford |
| Cogent Communications Holdings Inc. | 106% | not disclosed | No | Compensia |
| Crinetics Pharmaceuticals Inc. | not disclosed | Options 70 · RSU 30 | not disclosed | Pearl Meyer |
| Geron Corporation | 90% | Options 75 · RSU 25 | not disclosed | Aon |
| Iovance Biotherapeutics Inc. | 60% | not disclosed | No | Haigh & Company |
| KalVista Pharmaceuticals Inc. | not disclosed | not disclosed | not disclosed | Aon |
| Mirum Pharmaceuticals Inc. | 200% | Option 47.2 · PSU 17.6 · RSU 17.6 | No | Alpine Rewards |
| Pliant Therapeutics Inc. | not disclosed | Option 66.67 · RSU 33.33 | not disclosed | Pearl Meyer; Alpine Rewards |
| Protagonist Therapeutics Inc. | 160% | Options 50 · RSU 50 | not disclosed | Aon Human Capital Solutions |
| Regenxbio Inc. | 97% | Options 75 · RSU 25 | not disclosed | Willis Towers Watson |
| Rhythm Pharmaceuticals Inc. | 120% | Options 50 · RSU 50 | No | Pay Governance |
| SpringWorks Therapeutics Inc. | 140% | not disclosed | Yes — Relative Total Shareholder Return (TSR) | Aon |
| Travere Therapeutics Inc. | 150% | not disclosed | No | Aon |
| Vera Therapeutics Inc. | not disclosed | RSU 50 · Options 50 | not disclosed | Alpine Rewards |
| Vir Biotechnology Inc. | 125% | Options 67 · RSU 33 | not disclosed | Semler Brossy |
| Viridian Therapeutics Inc. | 150% | Options 75 · RSU 25 | not disclosed | Compensia |
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.
Say-on-pay history and pay ratio
No say-on-pay vote is on file for this company.
CEO pay ratio
| Ratio (CEO : median employee) | 14.9 : 1 |
|---|---|
| CEO total compensation | $8,872,611 |
| Median employee compensation | $597,225 |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (47 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Anish Bhatnagar. 10-K/A, filed 2026-04-30. Section “Executive Compensation” · page 23. As printed: 8,872,611. View filing ↗
- Section 01, Manher Joshi. 10-K/A, filed 2026-04-30. Section “Executive Compensation” · page 23. As printed: 3,721,576. View filing ↗
- Section 01, Kevin Norrett. 10-K/A, filed 2026-04-30. Section “Executive Compensation” · page 23. As printed: 3,369,336. View filing ↗
- Section 01, James Mackaness. 10-K/A, filed 2026-04-30. Section “Executive Compensation” · page 23. As printed: 2,786,453. View filing ↗
- Section 01, Meredith Manning. 10-K/A, filed 2026-04-30. Section “Executive Compensation” · page 23. As printed: 2,606,156. View filing ↗
- Section 03, Anish Bhatnagar OPTION. DEF 14A, filed 2026-04-30. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Anish Bhatnagar RSU. DEF 14A, filed 2026-04-30. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Manher Joshi OPTION. DEF 14A, filed 2026-04-30. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Manher Joshi RSU. DEF 14A, filed 2026-04-30. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, James Mackaness OPTION. DEF 14A, filed 2026-04-30. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, James Mackaness RSU. DEF 14A, filed 2026-04-30. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Meredith Manning OPTION. DEF 14A, filed 2026-04-30. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Meredith Manning RSU. DEF 14A, filed 2026-04-30. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Kevin Norrett OPTION. DEF 14A, filed 2026-04-30. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Kevin Norrett RSU. DEF 14A, filed 2026-04-30. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-04-30. Section “CEO Pay Ratio”. As printed: 14.9 : 1. View filing ↗
- Section 08, Mark Hahn. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 657,613. View filing ↗
- Section 08, Matthew Pauls. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 390,339. View filing ↗
- Section 08, William G. Harris. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 366,202. View filing ↗
- Section 08, Birgitte Volck. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 360,475. View filing ↗
- Section 08, Dawn Bir. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 350,611. View filing ↗
- Section 08, Andrew Sinclair. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 300,203. View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
- Section 09b board cost (computed). Computed. Cash 278,772 + equity 2,146,671 + all other 0 = 2,425,443, summed across the director compensation table rows.
- Cogent Communications Holdings Inc., Section 10b CEO total. DEF 14A, filed 2026-03-20. CEO total compensation as printed in Cogent Communications Holdings Inc.'s own proxy. As printed: 25,372,519. View filing ↗
- Rhythm Pharmaceuticals Inc., Section 10b CEO total. DEF 14A, filed 2026-04-29. CEO total compensation as printed in Rhythm Pharmaceuticals Inc.'s own proxy. As printed: 17,544,525. View filing ↗
- SpringWorks Therapeutics Inc., Section 10b CEO total. DEF 14A, filed 2025-04-04. CEO total compensation as printed in SpringWorks Therapeutics Inc.'s own proxy. As printed: 16,153,317. View filing ↗
- Protagonist Therapeutics Inc., Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in Protagonist Therapeutics Inc.'s own proxy. As printed: 12,871,506. View filing ↗
- Crinetics Pharmaceuticals Inc., Section 10b CEO total. DEF 14A, filed 2026-04-29. CEO total compensation as printed in Crinetics Pharmaceuticals Inc.'s own proxy. As printed: 11,628,959. View filing ↗
- Mirum Pharmaceuticals Inc., Section 10b CEO total. DEF 14A, filed 2026-04-23. CEO total compensation as printed in Mirum Pharmaceuticals Inc.'s own proxy. As printed: 10,441,224. View filing ↗
- Geron Corporation, Section 10b CEO total. DEF 14A, filed 2026-04-07. CEO total compensation as printed in Geron Corporation's own proxy. As printed: 10,221,755. View filing ↗
- Arcus Biosciences Inc., Section 10b CEO total. DEF 14A, filed 2026-04-21. CEO total compensation as printed in Arcus Biosciences Inc.'s own proxy. As printed: 9,656,813. View filing ↗
- Soleno Therapeutics Inc (subject), Section 10b CEO total. 10-K/A, filed 2026-04-30. CEO total compensation as printed in Soleno Therapeutics Inc's own proxy. As printed: 8,872,611. View filing ↗
- Travere Therapeutics Inc., Section 10b CEO total. DEF 14A, filed 2026-04-06. CEO total compensation as printed in Travere Therapeutics Inc.'s own proxy. As printed: 8,457,151. View filing ↗
- Vir Biotechnology Inc., Section 10b CEO total. DEF 14A, filed 2026-04-16. CEO total compensation as printed in Vir Biotechnology Inc.'s own proxy. As printed: 7,834,045. View filing ↗
- Vera Therapeutics Inc., Section 10b CEO total. DEF 14A, filed 2026-04-09. CEO total compensation as printed in Vera Therapeutics Inc.'s own proxy. As printed: 6,986,410. View filing ↗
- Viridian Therapeutics Inc., Section 10b CEO total. DEF 14A, filed 2026-04-17. CEO total compensation as printed in Viridian Therapeutics Inc.'s own proxy. As printed: 6,776,249. View filing ↗
- Pliant Therapeutics Inc., Section 10b CEO total. DEF 14A, filed 2026-04-22. CEO total compensation as printed in Pliant Therapeutics Inc.'s own proxy. As printed: 5,462,901. View filing ↗
- Agios Pharmaceuticals Inc., Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in Agios Pharmaceuticals Inc.'s own proxy. As printed: 5,370,389. View filing ↗
- KalVista Pharmaceuticals Inc., Section 10b CEO total. 10-KT/A, filed 2026-04-30. CEO total compensation as printed in KalVista Pharmaceuticals Inc.'s own proxy. As printed: 5,094,999. View filing ↗
- Regenxbio Inc., Section 10b CEO total. DEF 14A, filed 2026-04-14. CEO total compensation as printed in Regenxbio Inc.'s own proxy. As printed: 4,200,712. View filing ↗
- Alector Inc., Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in Alector Inc.'s own proxy. As printed: 1,995,018. View filing ↗
- Iovance Biotherapeutics Inc., Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in Iovance Biotherapeutics Inc.'s own proxy. As printed: 1,888,175. View filing ↗
- Section 10a, Agios Pharmaceuticals Inc. reciprocity. DEF 14A. Agios Pharmaceuticals Inc. names Soleno Therapeutics Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Vera Therapeutics Inc. reciprocity. DEF 14A. Vera Therapeutics Inc. names Soleno Therapeutics Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Viridian Therapeutics Inc. reciprocity. DEF 14A. Viridian Therapeutics Inc. names Soleno Therapeutics Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗