CEO Leon Moulder was paid $4,661,000 in fiscal year 2025, ↓ down 76.7% from fiscal year 2024 (SEC filing 0001104659-26-028062 ↗): 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.
$4,661,000 ↓ Leon Moulder total, FY2025 | — CEO pay percentile vs peers | — CEO-to-median pay ratio | — Say-on-pay support, latest vote |
Track this company's pay every filing: join the Pro seat waitlist
Velarion Pro: every company page, peer tools and exports, one seat — $1,200/year
Ask our research desk — $99, 24h, every figure cited to its filing.
ZBIO's next annual pay disclosure, estimated February 1, 2027.est. Filing ↗
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Leon Moulder | $520,000 | $0 | $0 | $3,769,200 | $371,800 | $0 | $0 | $4,661,000 |
| Founder, Chief Executive Officer and Chairman | ||||||||
| Lisa von Moltke | 411,667 | 347,900 | — | 2,739,880 | — | — | — | 3,499,447 |
| Head of Research and Development and Chief Medical Officer | ||||||||
| Joseph Farmer | 520,000 | 0 | 0 | 1,649,025 | 336,700 | 0 | 20,800 | 2,526,525 |
| President and 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 |
|---|---|---|---|---|
| Leon Moulder | $4,661,000 | $19,998,016 | — | ↓ −15,337,016 |
| Lisa von Moltke | 3,499,447 | — | — | — |
| Joseph Farmer | 2,526,525 | 6,004,454 | — | ↓ −3,477,929 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
You have just read Zenas BioPharma's Summary Compensation Table. The whole free brief as a PDF, sent in 2 minutes, with every figure cited — then a few short notes on the deeper ZBIO reports.
We send the PDF within 2 minutes, then up to three short notes. Reply “unsubscribe” to any of them, any time.
How we handle your data → Privacy
Each company listed discloses ZBIO 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 ZBIO 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 officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.
| Executive | Role | FY2025 total |
|---|---|---|
| Joseph Farmer | President | $2,526,525 |
| Leon Moulder | CEO | $4,661,000 |
| Lisa von Moltke | Executive | $3,499,447 |
One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2025 total |
|---|---|---|
| Hongbo Lu, Ph.D | Independent Director | $216,949 |
| Jake Nunn | Independent Director | $219,023 |
| James Boylan | Lead Independent Director | $241,873 |
| John Orloff, M.D | Independent Director | $226,875 |
| Patricia Allen | Independent Director | $229,023 |
| Patrick Enright | Independent Director | $225,023 |
| Ting (Tim) Xiao | Former director (through FY2025) | $17,644 |
| Tomas Kiselak | Independent Director | $216,949 |
No insider equity transactions reported since the proxy statement.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Orloff | RSU | 10,213,290 | — | $13 |
| Leon Moulder | Option | 115,526 | 9.3 | — |
| Leon Moulder | Option | 1,021,625 | 17 | — |
| Leon Moulder | Option | 400,000 | 11.94 | — |
| Joseph Farmer | Option | 40,308 | 9.3 | — |
| Joseph Farmer | Option | 30,772 | 9.3 | — |
| Joseph Farmer | Option | 189,605 | 9.99 | — |
| Joseph Farmer | Option | 141,625 | 17 | — |
| Joseph Farmer | Option | 175,000 | 11.94 | — |
| Lisa von Moltke | Option | 400,000 | 8.72 | — |
Our executive compensation program is intended to align executive compensation with our business objectives and to enable us to attract, retain and reward executive officers who contribute to our long-term success. The compensation paid or awarded to our executive officers is generally based on a qualitative assessment of each individual’s performance compared against the business objectives established for the fiscal year as well as market peer group data and our historical compensation practices.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Alpine |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | false |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| James BoylanIndependent · Lead Independent Director · Audit Committee · Compensation Committee | $72,849 | — | $169,023 | — | $1 | $241,873 |
| Patricia AllenIndependent · Audit Committee (Chair) | 60,000 | — | 169,023 | — | — | 229,023 |
| John Orloff, M.DIndependent · Compensation (Chair) · Science and Technology (Chair) | 57,852 | — | 169,023 | — | — | 226,875 |
| Patrick EnrightIndependent · Audit Committee · Compensation Committee | 56,000 | — | 169,023 | — | — | 225,023 |
| Jake NunnIndependent · Nominating Committee** (Chair) | 50,000 | — | 169,023 | — | — | 219,023 |
| Hongbo Lu, Ph.DIndependent · Nominating and Corporate Governance · Science and Technology | 47,926 | — | 169,023 | — | — | 216,949 |
| Tomas KiselakIndependent · Nominating Committee** · Science Committee** · Not standing for re-election | 47,926 | — | 169,023 | — | — | 216,949 |
| Ting (Tim) XiaoIndependent · Not standing for re-election · Departed during FY | 17,644 | — | 0 | — | — | 17,644 |
| Leon O. Moulder JrEmployee 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 | $410,197 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $1 |
| Total cost of the board | $410,198 |
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 | Zenas BioPharma | 2025 | Leon Moulder | $520,000 | $0 | $3,769,200 | $371,800 | $4,661,000 |
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.
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, Leon Moulder | DEF 14A | 2026-03-16 | 0001104659-26-028062 | Section “Executive Compensation”. As printed: 4,661,000. Filing ↗machine: r1 · c41 · span 360346–360355 |
| 2 | Section 01, Lisa von Moltke | DEF 14A | 2026-03-16 | 0001104659-26-028062 | Section “Executive Compensation”. As printed: 3,499,447. Filing ↗ |
| 3 | Section 01, Joseph Farmer | DEF 14A | 2026-03-16 | 0001104659-26-028062 | Section “Executive Compensation”. As printed: 2,526,525. Filing ↗machine: r3 · c41 · span 368782–368791 |
| 4 | Section 08, James Boylan | DEF 14A | 2026-03-16 | 0001104659-26-028062 | Section “Director Compensation”. As printed: 241,873. Filing ↗machine: span 263582–263589 |
| 5 | Section 08, Patricia Allen | DEF 14A | 2026-03-16 | 0001104659-26-028062 | Section “Director Compensation”. As printed: 229,023. Filing ↗machine: span 261501–261508 |
| 6 | Section 08, John Orloff, M.D | DEF 14A | 2026-03-16 | 0001104659-26-028062 | Section “Director Compensation”. As printed: 226,875. Filing ↗machine: span 274072–274079 |
| 7 | Section 08, Patrick Enright | DEF 14A | 2026-03-16 | 0001104659-26-028062 | Section “Director Compensation”. As printed: 225,023. Filing ↗machine: span 265691–265698 |
| 8 | Section 08, Jake Nunn | DEF 14A | 2026-03-16 | 0001104659-26-028062 | Section “Director Compensation”. As printed: 219,023. Filing ↗machine: span 271961–271968 |
| 9 | Section 08, Hongbo Lu, Ph.D | DEF 14A | 2026-03-16 | 0001104659-26-028062 | Section “Director Compensation”. As printed: 216,949. Filing ↗machine: span 269883–269890 |
| 10 | Section 08, Tomas Kiselak | DEF 14A | 2026-03-16 | 0001104659-26-028062 | Section “Director Compensation”. As printed: 216,949. Filing ↗machine: span 267773–267780 |
| 11 | Section 08, Ting (Tim) Xiao | DEF 14A | 2026-03-16 | 0001104659-26-028062 | Section “Director Compensation”. As printed: 17,644. Filing ↗machine: span 275244–275250 |
| 12 | Section 08, Leon O. Moulder Jr | DEF 14A | 2026-03-16 | 0001104659-26-028062 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 13 | 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) |
| 14 | Section 09b board cost (computed) | Computed | — | — | Cash 410,197 + equity 0 + all other 1 = 410,198, summed across the director compensation table rows.machine: formula: Σ = 410,198 |
| 15 | Zenas BioPharma (subject), Section 10b CEO total | DEF 14A | 2026-03-16 | 0001104659-26-028062 | CEO total compensation as printed in Zenas BioPharma's own proxy. As printed: 4,661,000. Filing ↗machine: r1 · c41 · span 360346–360355 |