CEO Esther Rajavelu was paid $2,061,496 in fiscal year 2025, ↑ up 140.7% from fiscal year 2024 (SEC filing 0001193125-26-182201 ↗): 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.
$2,061,496 ↑ Esther Rajavelu total, FY2025 | — CEO pay percentile vs peers | — CEO-to-median pay ratio | 96.53% Say-on-pay support, latest vote |
SPRO's next annual pay disclosure, estimated April 27, 2027.est. Filing ↗
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Esther Rajavelu | $577,179 | $687,479 | $413,705 | $0 | $372,000 | $0 | $11,134 | $2,061,496 |
| President and Chief Executive Officer, Chief Financial Officer, Chief Business Officer and Treasurer(5) | ||||||||
| Satyavrat Shukla | 244,153 | 452,813 | 603,380 | 0 | 307,912 | 0 | 416,919 | 2,025,178 |
| Former President and Chief Executive Officer(6) | ||||||||
| Tim Keutzer | 484,566 | 498,818 | 213,710 | 0 | 232,592 | 0 | 11,134 | 1,440,820 |
| Chief Operating 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 |
|---|---|---|---|---|
| Esther Rajavelu | $2,061,496 | $856,479 | — | ↑ +1,205,017 |
| Satyavrat Shukla | 2,025,178 | 1,953,237 | — | ↑ +71,941 |
| Tim Keutzer | 1,440,820 | 1,033,450 | — | ↑ +407,370 |
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 SPRO 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 SPRO in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
No insider equity transactions reported since the proxy statement.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Esther Rajavelu | RSU | 185,000 | — | $431,050 |
| Esther Rajavelu | RSU | 150,000 | — | 349,500 |
| Tim Keutzer | Option | 2,216 | 11.18 | — |
| Tim Keutzer | RSU | 179,798 | — | 418,929 |
| Esther Rajavelu | RSU | 366,139 | — | 853,104 |
| Tim Keutzer | RSU | 266,139 | — | 620,104 |
| Tim Keutzer | RSU | 132,978 | — | 309,839 |
| Esther Rajavelu | RSU | 89,899 | — | 209,465 |
| Tim Keutzer | RSU | 9,503 | — | 22,142 |
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Meridian Compensation Partners, LLC |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | false |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-23 | 27,890,254 | 1,002,982 | 107,174 | 96.53% | Passed |
| 2025 | 2025-06-12 | 25,178,672 | 638,744 | 354,784 | 97.53% | Passed |
| 2024 | 2024-05-29 | 23,890,281 | 442,014 | 404,371 | 98.18% | Passed |
| 2023 | 2023-10-05 | 20,123,647 | 1,145,027 | 259,285 | 94.62% | Passed |
| 2022 | 2022-09-15 | — | — | — | — | — |
| 2021 | 2021-08-17 | — | — | — | — | — |
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 | 2026-06-23 | 96.53%a |
| 2025 | 2025-06-12 | 97.53%b |
| 2024 | 2024-05-29 | 98.18%c |
a. Voting standard not stated in the filing.
b. Voting standard not stated in the filing.
c. 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.
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| John C. Pottage Jr., M.DNot independent · Development (Chair) | $50,000 | $57,800 | — | — | $225,000 | $332,800 |
| Frank E. ThomasIndependent · Board Chair | 130,000 | 57,800 | — | — | 0 | 187,800 |
| Patrick Vink, M.DIndependent · Nominating and Corporate Governance (Chair) · Compensation | 83,750 | 57,800 | — | — | 0 | 141,550 |
| Milind Deshpande, Ph.DIndependent · Audit · Nominating and Corporate Governance · Development | 62,500 | 57,800 | — | — | 0 | 120,300 |
| Cynthia SmithIndependent · Compensation (Chair) | 60,000 | 57,800 | — | — | 0 | 117,800 |
| Scott JacksonIndependent · Audit · Nominating and Corporate Governance | 57,500 | 57,800 | — | — | 0 | 115,300 |
| Kathleen TregoningIndependent · Compensation | 50,000 | 57,800 | — | — | 0 | 107,800 |
| Ankit Mahadevia, M.DNot independent · Development | 45,000 | 57,800 | — | — | 0 | 102,800 |
| Esther RajaveluEmployee director | — | — | — | — | — | 0 |
| Annual cash retainer | $40,000 |
|---|---|
| Annual equity retainer | $20,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 20,000 / 15,000 |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $538,750 |
| Equity awards (grant-date value) | $462,400 |
| All other compensation | $225,000 |
| Total cost of the board | $1,226,150 |
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 | Spero Therapeutics, Inc. | 2025 | Esther Rajavelu | $577,179 | $413,705 | $0 | $372,000 | $2,061,496 |
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, Esther Rajavelu | DEF 14A | 2026-04-27 | 0001193125-26-182201 | Section “Executive Compensation”. As printed: 2,061,496. Filing ↗machine: r2 · c27 · span 236942–236951 |
| 2 | Section 01, Satyavrat Shukla | DEF 14A | 2026-04-27 | 0001193125-26-182201 | Section “Executive Compensation”. As printed: 2,025,178. Filing ↗machine: r6 · c27 · span 245546–245555 |
| 3 | Section 01, Tim Keutzer | DEF 14A | 2026-04-27 | 0001193125-26-182201 | Section “Executive Compensation”. As printed: 1,440,820. Filing ↗machine: r4 · c27 · span 241280–241289 |
| 4 | Section 08, John C. Pottage Jr., M.D | DEF 14A | 2026-04-27 | 0001193125-26-182201 | Section “Director Compensation”. As printed: 332,800. Filing ↗machine: span 331454–331461 |
| 5 | Section 08, Frank E. Thomas | DEF 14A | 2026-04-27 | 0001193125-26-182201 | Section “Director Compensation”. As printed: 187,800. Filing ↗machine: span 334170–334177 |
| 6 | Section 08, Patrick Vink, M.D | DEF 14A | 2026-04-27 | 0001193125-26-182201 | Section “Director Compensation”. As printed: 141,550. Filing ↗machine: span 336893–336900 |
| 7 | Section 08, Milind Deshpande, Ph.D | DEF 14A | 2026-04-27 | 0001193125-26-182201 | Section “Director Compensation”. As printed: 120,300. Filing ↗machine: span 327380–327387 |
| 8 | Section 08, Cynthia Smith | DEF 14A | 2026-04-27 | 0001193125-26-182201 | Section “Director Compensation”. As printed: 117,800. Filing ↗machine: span 332823–332830 |
| 9 | Section 08, Scott Jackson | DEF 14A | 2026-04-27 | 0001193125-26-182201 | Section “Director Compensation”. As printed: 115,300. Filing ↗machine: span 328724–328731 |
| 10 | Section 08, Kathleen Tregoning | DEF 14A | 2026-04-27 | 0001193125-26-182201 | Section “Director Compensation”. As printed: 107,800. Filing ↗machine: span 335544–335551 |
| 11 | Section 08, Ankit Mahadevia, M.D | DEF 14A | 2026-04-27 | 0001193125-26-182201 | Section “Director Compensation”. As printed: 102,800. Filing ↗machine: span 330104–330111 |
| 12 | Section 08, Esther Rajavelu | DEF 14A | 2026-04-27 | 0001193125-26-182201 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 13 | Section 06, 2026 vote | Form 8-K | 2026-06-25 | 0001193125-26-283033 | Item 5.07 · say-on-pay result. As reported: 96.53% (votes for as printed: 27,890,254). Filing ↗ |
| 14 | Section 06, 2025 vote | Form 8-K | 2025-06-18 | 0001193125-25-142807 | Item 5.07 · say-on-pay result. As reported: 97.53% (votes for as printed: 25,178,672). Filing ↗ |
| 15 | Section 06, 2024 vote | Form 8-K | 2024-06-03 | 0001193125-24-153034 | Item 5.07 · say-on-pay result. As reported: 98.18% (votes for as printed: 23,890,281). Filing ↗ |
| 16 | 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) |
| 17 | Section 09b board cost (computed) | Computed | — | — | Cash 538,750 + equity 462,400 + all other 225,000 = 1,226,150, summed across the director compensation table rows.machine: formula: Σ = 1,226,150 |
| 18 | Spero Therapeutics, Inc. (subject), Section 10b CEO total | DEF 14A | 2026-04-27 | 0001193125-26-182201 | CEO total compensation as printed in Spero Therapeutics, Inc.'s own proxy. As printed: 2,061,496. Filing ↗machine: r2 · c27 · span 236942–236951 |
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