CEO Seth Lederman was paid $3,168,830 in fiscal year 2025, ↑ up 75.1% from fiscal year 2024 (SEC filing 0001999371-26-007108 ↗): 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.
$3,168,830 ↑ Seth Lederman total, FY2025 | — CEO pay percentile vs peers | 2:1 CEO-to-median pay ratio | 77.84% Say-on-pay support, latest vote |
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TNXP's next annual pay disclosure, estimated March 29, 2027.est. Filing ↗
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Seth Lederman | $702,000 | $596,700 | $0 | $1,870,130 | $0 | $0 | $0 | $3,168,830 |
| Chief Executive Officer | ||||||||
| Jessica Morris | 522,912 | 261,450 | 0 | 441,907 | 0 | 0 | 0 | 1,226,269 |
| Chief Operations Officer | ||||||||
| Gregory Sullivan | 519,168 | 259,600 | 0 | 437,774 | 0 | 0 | 0 | 1,216,542 |
| Chief Medical Officer | ||||||||
| Bradley Saenger | 502,944 | 251,450 | 0 | 389,119 | 0 | 0 | 0 | 1,143,513 |
| 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 |
|---|---|---|---|---|
| Seth Lederman | $3,168,830 | $1,809,767 | $2,050,065 | ↑ +1,359,063 |
| Jessica Morris | 1,226,269 | 887,741 | 928,599 | ↑ +338,528 |
| Gregory Sullivan | 1,216,542 | 922,444 | 951,998 | ↑ +294,098 |
| Bradley Saenger | 1,143,513 | 849,981 | 904,913 | ↑ +293,532 |
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 |
|---|---|---|
| Adeoye Olukotun | Independent Director | $243,830 |
| Carolyn Taylor | Independent Director | $243,830 |
| David Grange | Independent Director | $243,830 |
| James Hunter | Independent Director | $280,207 |
| James Treco | Lead Independent Director | $263,830 |
| Margaret Smith Bell | Independent Director | $243,830 |
| Newcomb Stillwell | Independent Director | $243,830 |
| Richard Bagger | Independent Director | $243,830 |
No insider equity transactions reported since the proxy statement.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Jessica Morris | OPTION | 2025-02-25 | — | — | 29,291 | — | $220,116 |
| Bradley Saenger | OPTION | 2025-02-25 | — | — | 25,792 | — | 195,297 |
| Gregory Sullivan | OPTION | 2025-02-25 | — | — | 29,017 | — | 219,717 |
| Gregory Sullivan | OPTION | 2025-02-25 | — | — | 29,017 | — | 218,057 |
| Seth Lederman | OPTION | 2025-02-25 | — | — | 123,958 | — | 931,520 |
| Seth Lederman | OPTION | 2025-02-25 | — | — | 123,958 | — | 938,610 |
| Jessica Morris | OPTION | 2025-02-25 | — | — | 29,291 | — | 221,791 |
| Bradley Saenger | OPTION | 2025-02-25 | — | — | 25,792 | — | 193,822 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Jessica Morris | $0 | $0 | $441,907 | 0.0% |
| Bradley Saenger | 0 | 0 | 389,119 | 0.0% |
| Gregory Sullivan | 0 | 0 | 437,774 | 0.0% |
| Seth Lederman | 0 | 0 | 1,870,130 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Seth Lederman | Option | 123,958 | 8.05 | — |
| Seth Lederman | Option | 123,958 | 10.06 | — |
| Jessica Morris | Option | 29,291 | 10.06 | — |
| Jessica Morris | Option | 29,291 | 8.05 | — |
| Bradley Saenger | Option | 25,792 | 8.05 | — |
| Bradley Saenger | Option | 25,792 | 10.06 | — |
| Gregory Sullivan | Option | 29,017 | 8.05 | — |
| Gregory Sullivan | Option | 29,017 | 10.06 | — |
The company's compensation program is designed to enhance shareholder value by attracting, motivating, and retaining qualified individuals. It emphasizes pay-for-performance, linking compensation to individual and corporate performance, and uses equity as a key component to align executive interests with shareholders.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Aon plc |
| Clawback policy | — |
| Anti-hedging | true |
| Anti-pledging | true |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2025 | 2025-05-08 | 1,045,066 | 297,523 | 162,595 | 77.84% | Passed |
| 2019 | 2019-05-03 | 695,330 | 140,894 | 11,727 | 83.15% | 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 |
|---|---|---|
| 2025 | 2025-05-08 | 77.84%a |
| 2019 | 2019-05-03 | 83.15%b |
a. Voting standard not stated in the filing.
b. 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.
| Ratio (CEO : median employee) | 2 : 1 |
|---|---|
| CEO total compensation | $3,168,830 |
| Median employee compensation | — |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| James HunterIndependent | $30,250 | — | $249,957 | — | — | $280,207 |
| James TrecoIndependent · Lead Independent Director · Audit (Chair) · Nominating and Corporate Governance | 75,000 | — | 188,830 | — | — | 263,830 |
| Margaret Smith BellIndependent · Audit · Compensation (Chair) | 55,000 | — | 188,830 | — | — | 243,830 |
| Adeoye OlukotunIndependent · Compensation | 55,000 | — | 188,830 | — | — | 243,830 |
| Newcomb StillwellIndependent · Audit · Nominating and Corporate Governance | 55,000 | — | 188,830 | — | — | 243,830 |
| Richard BaggerIndependent · Audit · Nominating and Corporate Governance (Chair) | 55,000 | — | 188,830 | — | — | 243,830 |
| David GrangeIndependent · Compensation · Nominating and Corporate Governance | 55,000 | — | 188,830 | — | — | 243,830 |
| Carolyn TaylorIndependent · Compensation | 55,000 | — | 188,830 | — | — | 243,830 |
| Seth LedermanEmployee director · Board Chair | — | — | — | — | — | 0 |
| Annual cash retainer | $55,000 |
|---|---|
| Annual equity retainer | $188,830 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | — |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $435,250 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $0 |
| Total cost of the board | $435,250 |
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 | Tonix Pharmaceuticals Holding | 2025 | Seth Lederman | $702,000 | $0 | $1,870,130 | $0 | $3,168,830 |
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, Seth Lederman | DEF 14A | 2026-03-30 | 0001999371-26-007108 | Section “Summary Compensation Table” · page 40. As printed: 3,168,830. Filing ↗machine: r1 · c31 · span 367856–367865 |
| 2 | Section 01, Jessica Morris | DEF 14A | 2026-03-30 | 0001999371-26-007108 | Section “Summary Compensation Table” · page 40. As printed: 1,226,269. Filing ↗machine: r3 · c31 · span 370433–370442 |
| 3 | Section 01, Gregory Sullivan | DEF 14A | 2026-03-30 | 0001999371-26-007108 | Section “Summary Compensation Table” · page 40. As printed: 1,216,542. Filing ↗machine: r7 · c31 · span 375489–375498 |
| 4 | Section 01, Bradley Saenger | DEF 14A | 2026-03-30 | 0001999371-26-007108 | Section “Summary Compensation Table” · page 40. As printed: 1,143,513. Filing ↗machine: r5 · c31 · span 372961–372970 |
| 5 | Section 03, Jessica Morris OPTION | DEF 14A | 2026-03-30 | 0001999371-26-007108 | Section “Grants of Plan-Based Awards in Fiscal 2025” · grants of plan-based awards table. Filing ↗machine: span 384850–384857 |
| 6 | Section 03, Bradley Saenger OPTION | DEF 14A | 2026-03-30 | 0001999371-26-007108 | Section “Grants of Plan-Based Awards in Fiscal 2025” · grants of plan-based awards table. Filing ↗machine: span 382468–382475 |
| 7 | Section 03, Gregory Sullivan OPTION | DEF 14A | 2026-03-30 | 0001999371-26-007108 | Section “Grants of Plan-Based Awards in Fiscal 2025” · grants of plan-based awards table. Filing ↗machine: span 386063–386070 |
| 8 | Section 03, Gregory Sullivan OPTION | DEF 14A | 2026-03-30 | 0001999371-26-007108 | Section “Grants of Plan-Based Awards in Fiscal 2025” · grants of plan-based awards table. Filing ↗machine: span 386661–386668 |
| 9 | Section 03, Seth Lederman OPTION | DEF 14A | 2026-03-30 | 0001999371-26-007108 | Section “Grants of Plan-Based Awards in Fiscal 2025” · grants of plan-based awards table. Filing ↗machine: span 381281–381288 |
| 10 | Section 03, Seth Lederman OPTION | DEF 14A | 2026-03-30 | 0001999371-26-007108 | Section “Grants of Plan-Based Awards in Fiscal 2025” · grants of plan-based awards table. Filing ↗machine: span 380671–380678 |
| 11 | Section 03, Jessica Morris OPTION | DEF 14A | 2026-03-30 | 0001999371-26-007108 | Section “Grants of Plan-Based Awards in Fiscal 2025” · grants of plan-based awards table. Filing ↗machine: span 384252–384259 |
| 12 | Section 03, Bradley Saenger OPTION | DEF 14A | 2026-03-30 | 0001999371-26-007108 | Section “Grants of Plan-Based Awards in Fiscal 2025” · grants of plan-based awards table. Filing ↗machine: span 383066–383073 |
| 13 | Section 07, pay ratio | DEF 14A | 2026-03-30 | 0001999371-26-007108 | Section “CEO Pay Ratio”. As printed: 2 : 1. Filing ↗ |
| 14 | Section 08, James Hunter | DEF 14A | 2026-03-30 | 0001999371-26-007108 | Section “Director Compensation”. As printed: 280,207. Filing ↗machine: span 508061–508068 |
| 15 | Section 08, James Treco | DEF 14A | 2026-03-30 | 0001999371-26-007108 | Section “Director Compensation”. As printed: 263,830. Filing ↗machine: span 510572–510579 |
| 16 | Section 08, Margaret Smith Bell | DEF 14A | 2026-03-30 | 0001999371-26-007108 | Section “Director Compensation”. As printed: 243,830. Filing ↗machine: span 506996–507003 |
| 17 | Section 08, Adeoye Olukotun | DEF 14A | 2026-03-30 | 0001999371-26-007108 | Section “Director Compensation”. As printed: 243,830. Filing ↗machine: span 508602–508609 |
| 18 | Section 08, Newcomb Stillwell | DEF 14A | 2026-03-30 | 0001999371-26-007108 | Section “Director Compensation”. As printed: 243,830. Filing ↗machine: span 509134–509141 |
| 19 | Section 08, Richard Bagger | DEF 14A | 2026-03-30 | 0001999371-26-007108 | Section “Director Compensation”. As printed: 243,830. Filing ↗machine: span 506451–506458 |
| 20 | Section 08, David Grange | DEF 14A | 2026-03-30 | 0001999371-26-007108 | Section “Director Compensation”. As printed: 243,830. Filing ↗machine: span 507534–507541 |
| 21 | Section 08, Carolyn Taylor | DEF 14A | 2026-03-30 | 0001999371-26-007108 | Section “Director Compensation”. As printed: 243,830. Filing ↗machine: span 509674–509681 |
| 22 | Section 08, Seth Lederman | DEF 14A | 2026-03-30 | 0001999371-26-007108 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 23 | Section 06, 2025 vote | Form 8-K | 2025-05-08 | 0001999371-25-005717 | Item 5.07 · say-on-pay result. As reported: 77.84% (votes for as printed: 1,045,066). Filing ↗ |
| 24 | Section 06, 2019 vote | Form 8-K | 2019-05-08 | 0001387131-19-003403 | Item 5.07 · say-on-pay result. As reported: 83.15% (votes for as printed: 695,330). Filing ↗ |
| 25 | 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) |
| 26 | 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).machine: formula: sums + PSU ratio |
| 27 | Section 09b board cost (computed) | Computed | — | — | Cash 435,250 + equity 0 + all other 0 = 435,250, summed across the director compensation table rows.machine: formula: Σ = 435,250 |
| 28 | Tonix Pharmaceuticals Holding (subject), Section 10b CEO total | DEF 14A | 2026-03-30 | 0001999371-26-007108 | CEO total compensation as printed in Tonix Pharmaceuticals Holding's own proxy. As printed: 3,168,830. Filing ↗machine: r1 · c31 · span 367856–367865 |
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