Velarion · Company Intelligence
Compensation Brief
Fiscal year 2023 · Filings through 2025-01-15

Virpax Pharmaceuticals, Inc. (VRPX)

CEO Gerald Bruce was paid $128,000 in fiscal year 2023 (SEC filing 0001213900-24-052146 ↗): 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.

$1,216,000
Anthony Mack total, FY2023
Former Chief Executive Officer, Chairman (3) — highest-paid officer; CEO Gerald Bruce: $128,000
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CEO (Gerald Bruce) pay percentile vs peers
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CEO-to-median pay ratio
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Say-on-pay support, latest vote
01

Summary Compensation Table — fiscal year 2023

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Anthony Mack$445,000$0$0$60,000$0$0$711,000$1,216,000
Former Chief Executive Officer, Chairman (3)
Sheila Mathias308,000115,000075,000000498,000
Chief Scientific Officer
Christopher Chipman169,0000075,00000247,000491,000
Former Chief Financial Officer (5)
Vinay Shah123,000115,000086,000000324,000
Chief Financial Officer
Gerald Bruce38,00029,000061,000000128,000
Chief Executive 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 officerFY2023 totalFY2022 totalFY2021 totalΔ FY2022→2023
Anthony Mack$1,216,000$784,000—↑ +432,000
Sheila Mathias498,000———
Christopher Chipman491,000467,000—↑ +24,000
Vinay Shah324,000———
Gerald Bruce128,000———

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 VRPX
No companies currently name VRPX as a compensation peer in their most recent disclosure.

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

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

04

Outstanding equity awards at fiscal year-end 2023

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Sheila MathiasOption11,2007.88—
Sheila MathiasOption83346.2—
Vinay ShahOption10,0009.9—
Sheila MathiasOption4,04521.3—
05

Incentive-plan design — the Compensation Discussion & Analysis

The Board and Compensation Committee annually review executive compensation to align pay practices with companies of similar size and development stage. Compensation is designed to be commensurate with the Company's and management's performance, utilizing a mix of base salary, discretionary annual cash bonuses, and equity awards.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultant—
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingfalse
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20252025-01-15—————
20242024-07-29—————
20232023-12-28—————
20222022-07-25—————

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
20252025-01-15—a
20242024-07-29—b
20232023-12-28—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.

08

Director compensation — fiscal year 2023

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Jeffrey Gudin, MDEmployee director$158,000—$34,000——$192,000
Eric Floyd, PhDIndependent · Board Chair · Compensation (Chair) · Nominating and Corporate Governance · Science and Technology (Chair)55,000—23,850——78,850
Thani Jambulingam, PhDIndependent · Audit · Compensation · Nominating and Corporate Governance (Chair) · Science and Technology55,000—21,200——76,200
Jerrold Sendrow, CFPIndependent · Audit (Chair) · Compensation · Nominating and Corporate Governance55,000—18,550——73,550
Michael F. DubinIndependent · Audit55,000—10,600——65,600
Barbara A. Ruskin, PhD, J.DIndependent · Audit · Nominating and Corporate Governance · Science and Technology46,000—17,750——63,750
Vanila M. Singh, MDIndependent · Science and Technology55,000—7,950——62,950
Gerald BruceEmployee director—————0
09

Board fee structure and ownership guideline

Annual cash retainer$60,000
Annual equity retainer—
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)—
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2023
Cash retainers and fees$479,000
Equity awards (grant-date value)$0
All other compensation$0
Total cost of the board$479,000

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
1Virpax Pharmaceuticals, Inc.2023Gerald Bruce$38,000$0$61,000$0$128,000

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 Virpax Pharmaceuticals, Inc. in fiscal 2023?
As disclosed, Anthony Mack (Former Chief Executive Officer, Chairman (3)) was the highest-paid executive at Virpax Pharmaceuticals, Inc. in fiscal 2023, with total compensation of $1,216,000.
How much does Virpax Pharmaceuticals, Inc. spend in total on board compensation for fiscal 2023?
As disclosed, Virpax Pharmaceuticals, Inc. reported total board compensation of $479,000 for fiscal 2023.

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, Anthony Mack10-K2024-06-120001213900-24-052146Section “Summary Compensation Table” · page 21. As printed: 1,216,000. Filing ↗machine: r4 · c17 · span 517191–517200
2Section 01, Sheila Mathias10-K2024-06-120001213900-24-052146Section “Summary Compensation Table” · page 21. As printed: 498,000. Filing ↗machine: r7 · c17 · span 548737–548744
3Section 01, Christopher Chipman10-K2024-06-120001213900-24-052146Section “Summary Compensation Table” · page 21. As printed: 491,000. Filing ↗machine: r13 · c17 · span 607095–607102
4Section 01, Vinay Shah10-K2024-06-120001213900-24-052146Section “Summary Compensation Table” · page 21. As printed: 324,000. Filing ↗machine: r10 · c17 · span 577952–577959
5Section 01, Gerald Bruce10-K2024-06-120001213900-24-052146Section “Summary Compensation Table” · page 21. As printed: 128,000. Filing ↗machine: r1 · c17 · span 488567–488574
6Section 08, Jeffrey Gudin, MD10-K2024-06-120001213900-24-052146Section “Director Compensation”. As printed: 192,000. Filing ↗machine: span 838773–839154
7Section 08, Eric Floyd, PhD10-K2024-06-120001213900-24-052146Section “Director Compensation”. As printed: 78,850. Filing ↗machine: span 801716–802096
8Section 08, Thani Jambulingam, PhD10-K2024-06-120001213900-24-052146Section “Director Compensation”. As printed: 76,200. Filing ↗machine: span 814036–814416
9Section 08, Jerrold Sendrow, CFP10-K2024-06-120001213900-24-052146Section “Director Compensation”. As printed: 73,550. Filing ↗machine: span 807865–808245
10Section 08, Michael F. Dubin10-K2024-06-120001213900-24-052146Section “Director Compensation”. As printed: 65,600. Filing ↗machine: span 826362–826742
11Section 08, Barbara A. Ruskin, PhD, J.D10-K2024-06-120001213900-24-052146Section “Director Compensation”. As printed: 63,750. Filing ↗machine: span 832526–832906
12Section 08, Vanila M. Singh, MD10-K2024-06-120001213900-24-052146Section “Director Compensation”. As printed: 62,950. Filing ↗machine: span 820190–820570
13Section 08, Gerald Bruce10-K2024-06-120001213900-24-052146Section “Director Compensation”. As printed: 0. Filing ↗
14Section 06, 2025 voteForm 8-K2025-01-150001731122-25-000076Item 5.07 · say-on-pay result. As reported: —. Filing ↗
15Section 06, 2024 voteForm 8-K2024-07-300001013762-24-002775Item 5.07 · say-on-pay result. As reported: —. Filing ↗
16Section 06, 2023 voteForm 8-K2023-12-290001213900-23-099431Item 5.07 · say-on-pay result. As reported: —. Filing ↗
17Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
18Section 09b board cost (computed)Computed——Cash 479,000 + equity 0 + all other 0 = 479,000, summed across the director compensation table rows.machine: formula: Σ = 479,000
19Virpax Pharmaceuticals, Inc. (subject), Section 10b CEO total10-K2024-06-120001213900-24-052146CEO total compensation as printed in Virpax Pharmaceuticals, Inc.'s own proxy. As printed: 128,000. Filing ↗machine: r1 · c17 · span 488567–488574

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