Former CEO Paula Ragan was paid $2,640,569 in fiscal year 2025, ↑ up 23.1% from fiscal year 2024 (SEC filing 0001501697-26-000031 ↗): 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.
$6,705,205 Adam Craig total, FY2025 Executive Chairman — highest-paid officer; CEO Paula Ragan: $2,640,569 | — CEO (Paula Ragan) pay percentile vs peers | — CEO-to-median pay ratio | 92.9% Say-on-pay support, latest vote |
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XFOR's next annual pay disclosure, estimated February 12, 2027.est. Filing ↗
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Adam Craig | $179,629 | $0 | $0 | $6,410,958 | $114,479 | $0 | $139 | $6,705,205 |
| Executive Chairman | ||||||||
| John Volpone | 176,538 | 0 | 0 | 6,410,958 | 75,006 | 0 | 4,985 | 6,667,487 |
| President and Chief Operating Officer | ||||||||
| David Kirske | 194,192 | 120,000 | 0 | 4,181,040 | 103,133 | 0 | 901 | 4,599,266 |
| Chief Financial Officer, Treasurer and Corporate Secretary | ||||||||
| Paula Ragan | 420,170 | 0 | 1,081,575 | 0 | 0 | 0 | 1,138,824 | 2,640,569 |
| Former President and 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.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Adam Craig | $6,705,205 | — | — | — |
| John Volpone | 6,667,487 | — | — | — |
| David Kirske | 4,599,266 | — | — | — |
| Paula Ragan | 2,640,569 | 2,145,041 | — | ↑ +495,528 |
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 XFOR 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 XFOR in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2025 total |
|---|---|---|
| Alison Lawton | Former director (through FY2025) | $24,423 |
| David McGirr, M.B.A | Former director (through FY2025) | $48,071 |
| Françoise De Craecker | Independent Director | $57,101 |
| Gary J. Bridger, Ph.D | Independent Director | $64,770 |
| Keith Woods | Former director (through FY2025) | $41,716 |
| Michael S. Wyzga | Lead Independent Director | $89,147 |
| Murray W. Stewart, M.D | Independent Director | $62,710 |
| William E. Aliski, MPA | Former director (through FY2025) | $27,423 |
No insider equity transactions reported since the proxy statement.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| David Kirske | Option | 1,073,249 | 1.42 | — |
| David Kirske | Option | 1,552,769 | 1.42 | — |
| John Volpone | Option | 2,329,154 | 1.42 | — |
| Adam Craig | Option | 1,609,873 | 1.42 | — |
| Adam Craig | Option | 2,329,154 | 1.42 | — |
| Adam Craig | Option | 529,201 | 3.14 | — |
| John Volpone | Option | 1,609,873 | 1.42 | — |
| John Volpone | Option | 529,201 | 3.14 | — |
| David Kirske | Option | 352,800 | 3.14 | — |
The Company's compensation program is intended to reward NEOs for individual and Company-wide performance over the calendar year and to align the interests of NEOs with those of stockholders by motivating them to make important contributions to performance.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-11 | 70,932,142 | 5,420,569 | 20,692 | 92.9% | Passed |
| 2025 | 2025-06-09 | 67,793,970 | 12,234,847 | 2,034,279 | 84.71% | Passed |
| 2024 | 2024-06-10 | 89,159,259 | 4,443,024 | 644,785 | 94.6% | Passed |
| 2023 | 2023-06-13 | 59,263,769 | 7,988,869 | 175,031 | 87.89% | 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 |
|---|---|---|
| 2026 | 2026-05-11 | 92.9%a |
| 2025 | 2025-06-09 | 84.71%b |
| 2024 | 2024-06-10 | 94.6%c |
a. Voting standard not stated in the filing.
b. Voting standard not stated in the filing.
c. Approved under the standard stated in the filing — “" FOR " votes from the holders of shares representing a majority of the voting power of the shares of common stock of the Company, either present at the meeting or represented by proxy, and entitled to vote on the matter. | Abstentions: No effect”.
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) | — |
|---|---|
| CEO total compensation | — |
| Median employee compensation | — |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Michael S. WyzgaIndependent · Lead Independent Director · Audit (Chair) · Nominating and Corporate Governance | $82,937 | $6,210 | — | — | $0 | $89,147 |
| Gary J. Bridger, Ph.DIndependent · Audit · Compensation | 58,560 | 6,210 | — | — | 0 | 64,770 |
| Murray W. Stewart, M.DIndependent · Compensation (Chair) | 56,500 | 6,210 | — | — | 0 | 62,710 |
| Françoise De CraeckerIndependent · Audit · Nominating and Corporate Governance · Compensation | 50,891 | 6,210 | — | — | 0 | 57,101 |
| David McGirr, M.B.AIndependent · Departed during FY | 41,861 | 6,210 | — | — | 0 | 48,071 |
| Keith WoodsIndependent · Departed during FY | 35,506 | 6,210 | — | — | 0 | 41,716 |
| William E. Aliski, MPAIndependent · Departed during FY | 27,423 | 0 | — | — | 0 | 27,423 |
| Alison LawtonIndependent · Departed during FY | 24,423 | 0 | — | — | 0 | 24,423 |
| Adam R. Craig, M.D., Ph.D., M.B.AEmployee director · Board Chair | — | — | — | — | — | 0 |
| Annual cash retainer | $40,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 12,000 / 10,000 |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $378,101 |
| Equity awards (grant-date value) | $37,260 |
| All other compensation | $0 |
| Total cost of the board | $415,361 |
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 | X4 Pharmaceuticals | 2025 | Paula Ragan | $420,170 | $1,081,575 | $0 | $0 | $2,640,569 |
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, Adam Craig | DEF 14A | 2026-03-20 | 0001501697-26-000031 | Section “Summary Compensation Table” · page 30. As printed: 6,705,205. Filing ↗machine: span 515755–515764 |
| 2 | Section 01, John Volpone | DEF 14A | 2026-03-20 | 0001501697-26-000031 | Section “Summary Compensation Table” · page 30. As printed: 6,667,487. Filing ↗machine: span 530823–530832 |
| 3 | Section 01, David Kirske | DEF 14A | 2026-03-20 | 0001501697-26-000031 | Section “Summary Compensation Table” · page 30. As printed: 4,599,266. Filing ↗machine: span 537527–537536 |
| 4 | Section 01, Paula Ragan | DEF 14A | 2026-03-20 | 0001501697-26-000031 | Section “Summary Compensation Table” · page 30. As printed: 2,640,569. Filing ↗machine: span 520865–520874 |
| 5 | Section 07, pay ratio | 10-K | 2026-03-17 | 0001501697-26-000018 | Section “CEO Pay Ratio”. As printed: —. Filing ↗ |
| 6 | Section 08, Michael S. Wyzga | DEF 14A | 2026-03-20 | 0001501697-26-000031 | Section “Director Compensation”. As printed: 89,147. Filing ↗machine: span 768375–768563 |
| 7 | Section 08, Gary J. Bridger, Ph.D | DEF 14A | 2026-03-20 | 0001501697-26-000031 | Section “Director Compensation”. As printed: 64,770. Filing ↗machine: span 747332–747520 |
| 8 | Section 08, Murray W. Stewart, M.D | DEF 14A | 2026-03-20 | 0001501697-26-000031 | Section “Director Compensation”. As printed: 62,710. Filing ↗machine: span 761392–761580 |
| 9 | Section 08, Françoise De Craecker | DEF 14A | 2026-03-20 | 0001501697-26-000031 | Section “Director Compensation”. As printed: 57,101. Filing ↗machine: span 750748–750936 |
| 10 | Section 08, David McGirr, M.B.A | DEF 14A | 2026-03-20 | 0001501697-26-000031 | Section “Director Compensation”. As printed: 48,071. Filing ↗machine: span 757917–758105 |
| 11 | Section 08, Keith Woods | DEF 14A | 2026-03-20 | 0001501697-26-000031 | Section “Director Compensation”. As printed: 41,716. Filing ↗machine: span 764970–765158 |
| 12 | Section 08, William E. Aliski, MPA | DEF 14A | 2026-03-20 | 0001501697-26-000031 | Section “Director Compensation”. As printed: 27,423. Filing ↗machine: span 741277–741465 |
| 13 | Section 08, Alison Lawton | DEF 14A | 2026-03-20 | 0001501697-26-000031 | Section “Director Compensation”. As printed: 24,423. Filing ↗machine: span 751946–752134 |
| 14 | Section 08, Adam R. Craig, M.D., Ph.D., M.B.A | DEF 14A | 2026-03-20 | 0001501697-26-000031 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 15 | Section 06, 2026 vote | Form 8-K | 2026-05-12 | 0001501697-26-000047 | Item 5.07 · say-on-pay result. As reported: 92.9% (votes for as printed: 70,932,142). Filing ↗ |
| 16 | Section 06, 2025 vote | Form 8-K | 2025-06-11 | 0001628280-25-030743 | Item 5.07 · say-on-pay result. As reported: 84.71% (votes for as printed: 67,793,970). Filing ↗ |
| 17 | Section 06, 2024 vote | Form 8-K | 2024-06-11 | 0001628280-24-027680 | Item 5.07 · say-on-pay result. As reported: 94.6% (votes for as printed: 89,159,259). Filing ↗ |
| 18 | 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) |
| 19 | Section 09b board cost (computed) | Computed | — | — | Cash 378,101 + equity 37,260 + all other 0 = 415,361, summed across the director compensation table rows.machine: formula: Σ = 415,361 |
| 20 | X4 Pharmaceuticals (subject), Section 10b CEO total | DEF 14A | 2026-03-20 | 0001501697-26-000031 | CEO total compensation as printed in X4 Pharmaceuticals's own proxy. As printed: 2,640,569. Filing ↗machine: span 520865–520874 |
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