Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-05-26

Spruce Biosciences (SPRB)

CEO Javier Szwarcberg was paid $2,910,573 in fiscal year 2025, ↑ up 90.0% from fiscal year 2024 (SEC filing 0001193125-26-149821 ↗): 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.

$2,910,573 ↑
Javier Szwarcberg total, FY2025
—
CEO pay percentile vs peers
—
CEO-to-median pay ratio
62.7%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Javier Szwarcberg (Chief Executive Officer), FY2025 total compensation $2,910,573 (base salary $610,000) [exec_comp, SEC accession 0001193125-26-149821, filed 2026-04-09]

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SPRB's next annual pay disclosure, estimated April 9, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Javier Szwarcberg$610,000$503,250$1,750,518$41,805$0$0$5,000$2,910,573
Chief Executive Officer
Samir Gharib465,100313,943671,91617,252005,0001,473,211
President and Chief Financial Officer
Kirk Ways00442,0505,52900596,8331,044,412
Interim Chief Medical 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 FY2024→2025
Javier Szwarcberg$2,910,573$1,532,187—↑ +1,378,386
Samir Gharib1,473,211929,690—↑ +543,521
Kirk Ways1,044,412———

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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Companies that benchmark against SPRB
No companies currently name SPRB as a compensation peer in their most recent disclosure.

This is the complete answer, not a partial one — the list is never padded.

01b

Executives — the named officers

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.

ExecutiveRoleFY2025 total
Javier SzwarcbergCEO$2,910,573
Kirk WaysInterim Chief Medical Officer$1,044,412
Samir GharibPresident$1,473,211
02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Samir GharibRSU2025-12-11——7,600——
Javier SzwarcbergRSU2025-12-11——19,800——
Kirk WaysRSU2025-12-11——5,000——
Javier Szwarcberg, M.D., MPHOPTION2025-12-11——10,000—836,421
Javier Szwarcberg, M.D., MPHOPTION2025-12-11——1,666—139,348
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Javier Szwarcberg, M.D., MPH$0$0$975,7690.0%

% 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
Samir GharibRSU1,933—$167,561
Javier SzwarcbergRSU9,791—852,894
Samir GharibRSU1,026—89,375
Kirk WaysRSU266—23,058
Samir GharibRSU5,700—496,527
Samir GharibRSU1,579—136,875
Javier SzwarcbergRSU1,666—145,125
Kirk WaysRSU3,750—326,663
Samir GharibRSU953—82,610
Javier SzwarcbergRSU3,588—312,551
Javier SzwarcbergRSU2,392—208,367
Javier SzwarcbergRSU14,850—1,293,584
Javier SzwarcbergRSU1,480—128,293
Samir GharibRSU913—79,143
Kirk WaysRSU400—34,674
Samir GharibRSU1,539—134,062
Samir GharibRSU733—63,540
Samir GharibRSU496—43,207
Kirk WaysOption4009.26—
05

Incentive-plan design — the Compensation Discussion & Analysis

We have a pay-for-performance focused executive compensation philosophy designed to drive company performance aimed at increasing stockholder value. We seek to achieve this by using a market-based approach to attract, retain, and motivate a high-performing team of executive officers and by aligning most of the compensation of each of our executives with the Company’s short- and long-term performance, as well as each such executive’s individual contributions.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantAon Consulting, Inc.
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-21187,027111,2741,57362.7%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
20262026-05-2162.7%a

a. 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.

08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Keli WalbertIndependent · Compensation$2,540$0$292,464—$0$295,004
Michael GreyNot independent · Board Chair70,00009,940—079,940
Daniel SpiegelmanIndependent · Audit (Chair) · Nominating and Corporate Governance59,00007,043—066,043
Camilla V. Simpson, M.ScIndependent59,55205,802—065,354
Percival Barretto-KoIndependent · Audit · Compensation (Chair)48,06503,991—052,056
Tiba AynechiIndependent · Departed during FY47,31203,126—050,438
Bali Muralidhar, Ph.DIndependent · Compensation · Departed during FY35,56503,126—038,691
Javier Szwarcberg, M.D., MPHEmployee director—————0
Kirk Ways, M.D., Ph.DEmployee director—————0
09

Board fee structure and ownership guideline

Annual cash retainer$40,000
Annual equity retainer—
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)15,000 / 11,000 / 10,000
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$322,034
Equity awards (grant-date value)$0
All other compensation$0
Total cost of the board$322,034

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
1Spruce Biosciences2025Javier Szwarcberg$610,000$1,750,518$41,805$0$2,910,573

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.

10d

Frequently asked questions

Who was the highest-paid executive at Spruce Biosciences in fiscal 2025?
As disclosed, Javier Szwarcberg (Chief Executive Officer) was the highest-paid executive at Spruce Biosciences in fiscal 2025, with total compensation of $2,910,573.
How did shareholders vote on Spruce Biosciences's executive compensation?
As disclosed, 62.7% of shareholders supported Spruce Biosciences's executive compensation in the latest say-on-pay vote.
How much does Spruce Biosciences spend in total on board compensation for fiscal 2025?
As disclosed, Spruce Biosciences reported total board compensation of $322,034 for fiscal 2025.

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, Javier SzwarcbergDEF 14A2026-04-090001193125-26-149821Section “Executive Compensation”. As printed: 2,910,573. Filing ↗machine: r2 · c8 · span 441735–441744
2Section 01, Samir GharibDEF 14A2026-04-090001193125-26-149821Section “Executive Compensation”. As printed: 1,473,211. Filing ↗machine: r4 · c8 · span 448000–448009
3Section 01, Kirk WaysDEF 14A2026-04-090001193125-26-149821Section “Executive Compensation”. As printed: 1,044,412. Filing ↗machine: r6 · c8 · span 454691–454700
4Section 03, Samir Gharib RSUDEF 14A2026-04-090001193125-26-149821Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 478399–478404
5Section 03, Javier Szwarcberg RSUDEF 14A2026-04-090001193125-26-149821Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 478391–478397
6Section 03, Kirk Ways RSUDEF 14A2026-04-090001193125-26-149821Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
7Section 03, Javier Szwarcberg, M.D., MPH OPTIONDEF 14A2026-04-090001193125-26-149821Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 624140–624147
8Section 03, Javier Szwarcberg, M.D., MPH OPTIONDEF 14A2026-04-090001193125-26-149821Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 617516–617523
9Section 08, Keli WalbertDEF 14A2026-04-090001193125-26-149821Section “Director Compensation”. As printed: 295,004. Filing ↗machine: span 710089–710318
10Section 08, Michael GreyDEF 14A2026-04-090001193125-26-149821Section “Director Compensation”. As printed: 79,940. Filing ↗machine: span 705282–705510
11Section 08, Daniel SpiegelmanDEF 14A2026-04-090001193125-26-149821Section “Director Compensation”. As printed: 66,043. Filing ↗machine: span 712413–712641
12Section 08, Camilla V. Simpson, M.ScDEF 14A2026-04-090001193125-26-149821Section “Director Compensation”. As printed: 65,354. Filing ↗machine: span 714741–714969
13Section 08, Percival Barretto-KoDEF 14A2026-04-090001193125-26-149821Section “Director Compensation”. As printed: 52,056. Filing ↗machine: span 702964–703192
14Section 08, Tiba AynechiDEF 14A2026-04-090001193125-26-149821Section “Director Compensation”. As printed: 50,438. Filing ↗machine: span 700644–700872
15Section 08, Bali Muralidhar, Ph.DDEF 14A2026-04-090001193125-26-149821Section “Director Compensation”. As printed: 38,691. Filing ↗machine: span 707770–707998
16Section 08, Javier Szwarcberg, M.D., MPHDEF 14A2026-04-090001193125-26-149821Section “Director Compensation”. As printed: 0. Filing ↗
17Section 08, Kirk Ways, M.D., Ph.DDEF 14A2026-04-090001193125-26-149821Section “Director Compensation”. As printed: 0. Filing ↗
18Section 06, 2026 voteForm 8-K2026-05-260001193125-26-239230Item 5.07 · say-on-pay result. As reported: 62.7% (votes for as printed: 187,027). Filing ↗
19Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
20Section 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).machine: formula: sums + PSU ratio
21Section 09b board cost (computed)Computed——Cash 322,034 + equity 0 + all other 0 = 322,034, summed across the director compensation table rows.machine: formula: Σ = 322,034
22Spruce Biosciences (subject), Section 10b CEO totalDEF 14A2026-04-090001193125-26-149821CEO total compensation as printed in Spruce Biosciences's own proxy. As printed: 2,910,573. Filing ↗machine: r2 · c8 · span 441735–441744

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