Companies Vanda Pharmaceuticals Inc.
Vanda Pharmaceuticals (VANDA): executive pay, fiscal 2025
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CEO vs. named peers29th pct.Of 14 peer CEOs
CEO pay, last three years
- $3,720,215FY2023
- $3,896,241FY2024
- $3,851,468FY2025
CEO total pay was $3,851,468 in fiscal 2025, down from $3,896,241 in fiscal 2024.
FY2025: salary $965,655 · bonus $0 · stock awards $2,007,000 · option awards $0
Frequently asked questions
Who was the highest-paid executive at Vanda Pharmaceuticals Inc. in fiscal 2025?
As disclosed, Mihael Polymeropoulos (President, Chief Executive Officer and Chairman of the Board) was the highest-paid executive at Vanda Pharmaceuticals Inc. in fiscal 2025, with total compensation of $3,851,468.
How does Vanda Pharmaceuticals Inc.'s chief executive pay compare to its disclosed peer group?
As disclosed, Mihael Polymeropoulos's total compensation ranked at the 29th percentile of Vanda Pharmaceuticals Inc.'s disclosed peer group.
What is Vanda Pharmaceuticals Inc.'s CEO-to-median employee pay ratio?
As disclosed, Vanda Pharmaceuticals Inc.'s CEO-to-median employee pay ratio was 23.1:1.
How much does Vanda Pharmaceuticals Inc. spend in total on board compensation for fiscal 2025?
As disclosed, Vanda Pharmaceuticals Inc. reported total board compensation of $1,704,990 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.
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 |
|---|---|---|---|---|---|---|---|---|
| Mihael Polymeropoulos | $965,655 | $0 | $2,007,000 | $0 | $834,326 | $0 | $44,487 | $3,851,468 |
| President, Chief Executive Officer and Chairman of the Board | ||||||||
| Joakim Wijkstrom | 579,600 | 0 | 557,500 | 0 | 281,686 | 0 | 38,742 | 1,457,528 |
| Senior Vice President, Chief Marketing Officer | ||||||||
| Timothy Williams | 559,935 | 0 | 557,500 | 0 | 272,129 | 0 | 55,405 | 1,444,969 |
| Senior Vice President, General Counsel and Secretary | ||||||||
| Kevin Moran | 559,935 | 0 | 557,500 | 0 | 272,129 | 0 | 50,096 | 1,439,660 |
| Senior Vice President, Chief Financial Officer and Treasurer | ||||||||
| Gunther Birznieks | 559,935 | 0 | 557,500 | 0 | 272,129 | 0 | 25,907 | 1,415,471 |
| Senior Vice President, Business Development | ||||||||
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 |
|---|---|---|---|---|
| Mihael Polymeropoulos | $3,851,468 | $3,896,241 | $3,720,215 | ↓ −44,773 |
| Joakim Wijkstrom | 1,457,528 | 1,061,306 | 1,355,478 | ↑ +396,222 |
| Timothy Williams | 1,444,969 | 1,453,114 | 1,399,802 | ↓ −8,145 |
| Kevin Moran | 1,439,660 | 1,447,627 | 1,324,684 | ↓ −7,967 |
| Gunther Birznieks | 1,415,471 | 1,423,438 | 1,373,008 | ↓ −7,967 |
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
Vanda's executive compensation program is designed to attract, retain, and motivate superior executive talent by aligning their interests with those of stockholders through a pay-for-performance approach. The majority of executive compensation is variable and at-risk, contingent on Company, individual, and stock price performance, with long-term incentives delivered primarily through equity awards.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Willis Towers Watson |
| 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 |
|---|---|---|---|---|---|---|---|
| Gunther Birznieks | RSU | 2025-02-18 | — | — | 125,000 | — | $557,500 |
| Kevin Moran | RSU | 2025-02-18 | — | — | 125,000 | — | 557,500 |
| Mihael Polymeropoulos | RSU | 2025-02-18 | — | — | 450,000 | — | 2,007,000 |
| Joakim Wijkstrom | RSU | 2025-02-18 | — | — | 125,000 | — | 557,500 |
| Timothy Williams | RSU | 2025-02-18 | — | — | 125,000 | — | 557,500 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Gunther Birznieks | $557,500 | $0 | $0 | 0.0% |
| Kevin Moran | 557,500 | 0 | 0 | 0.0% |
| Mihael Polymeropoulos | 2,007,000 | 0 | 0 | 0.0% |
| Joakim Wijkstrom | 557,500 | 0 | 0 | 0.0% |
| Timothy Williams | 557,500 | 0 | 0 | 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 |
|---|---|---|---|---|
| Kevin Moran | Option | 3,231 | 11.36 | — |
| Gunther Birznieks | Option | 3,231 | 11.36 | — |
| Joakim Wijkstrom | Option | 3,231 | 11.36 | — |
| Timothy Williams | Option | 3,231 | 11.36 | — |
| Kevin Moran | RSU | 8,175 | — | 72,104 |
| Gunther Birznieks | RSU | 8,175 | — | 72,104 |
| Joakim Wijkstrom | RSU | 8,175 | — | 72,104 |
| Timothy Williams | RSU | 8,175 | — | 72,104 |
| Mihael Polymeropoulos | Option | 11,462 | 11.36 | — |
| Kevin Moran | RSU | 16,350 | — | 144,207 |
| Gunther Birznieks | RSU | 16,350 | — | 144,207 |
| Joakim Wijkstrom | RSU | 16,350 | — | 144,207 |
| Timothy Williams | RSU | 16,350 | — | 144,207 |
| Kevin Moran | Option | 22,605 | 7.05 | — |
| Gunther Birznieks | Option | 22,605 | 7.05 | — |
| Joakim Wijkstrom | Option | 22,605 | 7.05 | — |
| Timothy Williams | Option | 22,605 | 7.05 | — |
| Joakim Wijkstrom | RSU | 24,525 | — | 216,311 |
| Mihael Polymeropoulos | RSU | 28,750 | — | 253,575 |
| Mihael Polymeropoulos | RSU | 57,500 | — | 507,150 |
| Mihael Polymeropoulos | Option | 80,211 | 7.05 | — |
| Timothy Williams | RSU | 93,700 | — | 826,434 |
| Kevin Moran | RSU | 93,750 | — | 826,875 |
| Gunther Birznieks | RSU | 93,750 | — | 826,875 |
| Kevin Moran | RSU | 125,000 | — | 1,102,500 |
| Gunther Birznieks | RSU | 125,000 | — | 1,102,500 |
| Joakim Wijkstrom | RSU | 125,000 | — | 1,102,500 |
| Timothy Williams | RSU | 125,000 | — | 1,102,500 |
| Mihael Polymeropoulos | RSU | 337,500 | — | 2,976,750 |
| Mihael Polymeropoulos | RSU | 450,000 | — | 3,969,000 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Richard W. DuganIndependent · Lead Independent Director · Audit (Chair) · Compensation | $115,000 | $259,998 | — | — | — | $374,998 |
| Anne Sempowski WardIndependent · Audit · Compensation (Chair) | 85,000 | 259,998 | — | — | — | 344,998 |
| Phaedra S. ChrousosIndependent · Audit · Not standing for re-election | 80,000 | 259,998 | — | — | — | 339,998 |
| Tage Honoré, Ph.D., D.ScIndependent · Not standing for re-election | 67,500 | 259,998 | — | — | — | 327,498 |
| Stephen Ray Mitchell, M.DIndependent · Not standing for re-election | 57,500 | 259,998 | — | — | — | 317,498 |
Board fee structure and ownership guideline
| Annual cash retainer | $50,000 |
|---|---|
| Annual equity retainer | $260,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 25,000 / 20,000 / 15,000 |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $405,000 |
| Equity awards (grant-date value) | $1,299,990 |
| All other compensation | $0 |
| Total cost of the board | $1,704,990 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Vanda Pharmaceuticals as a peer
Companies that benchmark against VANDA
No companies currently name VANDA as a compensation peer in their most recent disclosure.
This is the complete answer, not a partial one — the list is never padded.
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.
ACAD ACADIA PharmaceuticalsAGIO Agios PharmaceuticalsAMRN Amarin CorporationFOLD Amicus TherapeuticsCORT Corcept TherapeuticsENTA Enanta PharmaceuticalsITCI Intra-Cellular TherapiesIRWD Ironwood PharmaceuticalsLXRX Lexicon PharmaceuticalsOMER Omeros CorporationPCRX Pacira BioSciencesSUPN Supernus PharmaceuticalsTVTX Travere TherapeuticsSAGE Sage Therapeutics
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 | Supernus Pharmaceuticals | 2025 | Joe Ciaffoni | $680,114 | $15,319,404 | $0 | $2,100,000 | $18,501,214 |
| 2 | Corcept Therapeutics | 2025 | Joseph Belanoff | 1,182,333 | 0 | 12,907,718 | 0 | 15,303,551 |
| 3 | Pacira BioSciences | 2025 | Frank Lee | 935,308 | 9,215,500 | 0 | 738,810 | 11,636,917 |
| 4 | Intra-Cellular Therapies | 2023 | Sharon Mates | 891,653 | 7,749,984 | 0 | 0 | 10,086,413 |
| 5 | Amicus Therapeutics | 2024 | Bradley Campbell | 767,308 | 4,990,365 | 2,105,627 | 0 | 8,526,943 |
| 6 | Travere Therapeutics | 2025 | Eric Dube | 854,250 | 3,314,520 | 3,309,384 | 964,125 | 8,457,151 |
| 7 | Acadia Pharmaceuticals | 2025 | Catherine Owen Adams | 930,000 | 3,240,558 | 3,234,797 | 818,559 | 8,256,518 |
| 8 | Sage Therapeutics | 2024 | Barry Greene | 830,712 | 3,164,364 | 2,669,263 | 431,970 | 7,112,589 |
| 9 | Agios Pharmaceuticals | 2025 | Brian Goff | 846,864 | 1,291,680 | 2,627,252 | 592,804 | 5,370,389 |
| 10 | Omeros Corporation | 2025 | Gregory Demopulos | 972,525 | 0 | 2,207,974 | 0 | 4,178,008 |
| 11 | Vanda Pharmaceuticals Inc. | 2025 | Mihael Polymeropoulos | 965,655 | 2,007,000 | 0 | 834,326 | 3,851,468 |
| 12 | Lexicon Pharmaceuticals | 2025 | Michael Exton | 650,576 | 1,049,304 | 1,355,231 | 0 | 3,553,953 |
| 13 | Amarin Corporation | 2025 | Aaron Berg | 725,667 | 1,391,250 | 493,975 | 588,300 | 3,540,366 |
| 14 | Enanta Pharmaceuticals | 2025 | Jay Luly | 803,300 | 128,550 | 1,223,975 | 591,665 | 2,769,548 |
| 15 | Ironwood Pharmaceuticals | 2025 | Thomas McCourt | 867,568 | 411,696 | 0 | 650,676 | 1,948,390 |
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 |
|---|---|---|---|---|
| Vanda Pharmaceuticals Inc. | not disclosed | not disclosed | not disclosed | Willis Towers Watson |
| Acadia Pharmaceuticals | 110% | Options 50 · PSU 25 · RSU 25 | Yes | Frederic W. Cook & Co., Inc. (FW Cook) |
| Agios Pharmaceuticals | 100% | Option 40 · PSU 40 · RSU 20 | No | Aon |
| Amarin Corporation | 107.75% | Options 75 · RSU 25 | not disclosed | Pearl Meyer |
| Amicus Therapeutics | not disclosed | Option 33 · RSU 33 · PRSU 33 | Yes — TSR Goal | Pay Governance |
| Corcept Therapeutics | Dr. Belanoff: 100%; Dr. Guyer: 120%; Mr. Maduck: 80%; Mr. Mokari: 100%; Mr. Robb: 100%% | Stock Options 100 | not disclosed | not disclosed |
| Enanta Pharmaceuticals | not disclosed | Options 80 · PSU 10 · MSU 10 | No | Alpine Rewards LLC |
| Intra-Cellular Therapies | not disclosed | RSU 75 · PRSU 25 | Yes — Total Stockholder Return (TSR) of Company stock relative to the TSR of companies in the Nasdaq Biotechnology Index | Aon Consulting, Inc. |
| Ironwood Pharmaceuticals | 100% | RSU 50 · PSU 50 | not disclosed | Alpine Rewards LLC |
| Lexicon Pharmaceuticals | not disclosed | not disclosed | not disclosed | Pearl Meyer & Partners, LLC |
| Omeros Corporation | not disclosed | Option 100 | not disclosed | Compensia |
| Pacira BioSciences | 90% | RSU 80 · PSU 20 | No | Aon |
| Sage Therapeutics | 80% | not disclosed | Yes — TSR milestones / Relative TSR vs. Nasdaq Biotechnology Index | Alpine Rewards |
| Supernus Pharmaceuticals | not disclosed | not disclosed | No | Aon |
| Travere Therapeutics | 150% | not disclosed | No | Aon |
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) | 23.1 : 1 |
|---|---|
| CEO total compensation | $3,851,468 |
| Median employee compensation | $166,623 |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (34 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, Mihael Polymeropoulos. DEF 14A, filed 2026-04-23. Section “Executive Compensation” · page 38. As printed: 3,851,468. View filing ↗
- Section 01, Joakim Wijkstrom. DEF 14A, filed 2026-04-23. Section “Executive Compensation” · page 38. As printed: 1,457,528. View filing ↗
- Section 01, Timothy Williams. DEF 14A, filed 2026-04-23. Section “Executive Compensation” · page 38. As printed: 1,444,969. View filing ↗
- Section 01, Kevin Moran. DEF 14A, filed 2026-04-23. Section “Executive Compensation” · page 38. As printed: 1,439,660. View filing ↗
- Section 01, Gunther Birznieks. DEF 14A, filed 2026-04-23. Section “Executive Compensation” · page 38. As printed: 1,415,471. View filing ↗
- Section 03, Gunther Birznieks RSU. DEF 14A, filed 2026-04-23. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Kevin Moran RSU. DEF 14A, filed 2026-04-23. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Mihael Polymeropoulos RSU. DEF 14A, filed 2026-04-23. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Joakim Wijkstrom RSU. DEF 14A, filed 2026-04-23. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Timothy Williams RSU. DEF 14A, filed 2026-04-23. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-04-23. Section “CEO Pay Ratio”. As printed: 23.1 : 1. View filing ↗
- Section 08, Richard W. Dugan. DEF 14A, filed 2026-04-23. Section “Director Compensation”. As printed: 374,998. View filing ↗
- Section 08, Anne Sempowski Ward. DEF 14A, filed 2026-04-23. Section “Director Compensation”. As printed: 344,998. View filing ↗
- Section 08, Phaedra S. Chrousos. DEF 14A, filed 2026-04-23. Section “Director Compensation”. As printed: 339,998. View filing ↗
- Section 08, Tage Honoré, Ph.D., D.Sc. DEF 14A, filed 2026-04-23. Section “Director Compensation”. As printed: 327,498. View filing ↗
- Section 08, Stephen Ray Mitchell, M.D. DEF 14A, filed 2026-04-23. Section “Director Compensation”. As printed: 317,498. 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 405,000 + equity 1,299,990 + all other 0 = 1,704,990, summed across the director compensation table rows.
- Supernus Pharmaceuticals, Section 10b CEO total. DEF 14A, filed 2026-03-27. CEO total compensation as printed in Supernus Pharmaceuticals's own proxy. As printed: 18,501,214. View filing ↗
- Corcept Therapeutics, Section 10b CEO total. DEF 14A, filed 2026-04-17. CEO total compensation as printed in Corcept Therapeutics's own proxy. As printed: 15,303,551. View filing ↗
- Pacira BioSciences, Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in Pacira BioSciences's own proxy. As printed: 11,636,917. View filing ↗
- Intra-Cellular Therapies, Section 10b CEO total. DEF 14A, filed 2024-04-29. CEO total compensation as printed in Intra-Cellular Therapies's own proxy. As printed: 10,086,413. View filing ↗
- Amicus Therapeutics, Section 10b CEO total. DEF 14A, filed 2025-04-24. CEO total compensation as printed in Amicus Therapeutics's own proxy. As printed: 8,526,943. View filing ↗
- Travere Therapeutics, Section 10b CEO total. DEF 14A, filed 2026-04-06. CEO total compensation as printed in Travere Therapeutics's own proxy. As printed: 8,457,151. View filing ↗
- Acadia Pharmaceuticals, Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in Acadia Pharmaceuticals's own proxy. As printed: 8,256,518. View filing ↗
- Sage Therapeutics, Section 10b CEO total. DEF 14A, filed 2025-04-24. CEO total compensation as printed in Sage Therapeutics's own proxy. As printed: 7,112,589. View filing ↗
- Agios Pharmaceuticals, Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in Agios Pharmaceuticals's own proxy. As printed: 5,370,389. View filing ↗
- Omeros Corporation, Section 10b CEO total. DEF 14A, filed 2026-04-30. CEO total compensation as printed in Omeros Corporation's own proxy. As printed: 4,178,008. View filing ↗
- Vanda Pharmaceuticals Inc. (subject), Section 10b CEO total. DEF 14A, filed 2026-04-23. CEO total compensation as printed in Vanda Pharmaceuticals Inc.'s own proxy. As printed: 3,851,468. View filing ↗
- Lexicon Pharmaceuticals, Section 10b CEO total. DEF 14A, filed 2026-03-16. CEO total compensation as printed in Lexicon Pharmaceuticals's own proxy. As printed: 3,553,953. View filing ↗
- Amarin Corporation, Section 10b CEO total. DEF 14A, filed 2026-04-10. CEO total compensation as printed in Amarin Corporation's own proxy. As printed: 3,540,366. View filing ↗
- Enanta Pharmaceuticals, Section 10b CEO total. DEF 14A, filed 2026-01-26. CEO total compensation as printed in Enanta Pharmaceuticals's own proxy. As printed: 2,769,548. View filing ↗
- Ironwood Pharmaceuticals, Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in Ironwood Pharmaceuticals's own proxy. As printed: 1,948,390. View filing ↗