Chief Financial Officer and Chief Operating Officer · Upstream Bio, Inc. (UPB)

Michael Paul Gray

A named executive officer of Upstream Bio in every fiscal year CompBrief holds from FY2024 to FY2025. Every figure below is printed as the company filed it and cited to the filing it came from.

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Total disclosed compensation, FY2025

$1,993,437

FY2024: $2,938,577

2nd of 3 named executive officers at Upstream Bio by FY2025 total.

3 named officers on file for Upstream Bio, FY2025

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What this number hides

The filing gives the total. Upstream Bio’s full Executive Compensation Report gives every award, the disclosed peer set and what the total leaves out — the pair adds the board’s.

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Compensation figures as of the proxy filed April 16, 2026 (DEF 14A).

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Michael Paul Gray compensation by year

Upstream Bio Summary Compensation Table · all 2 fiscal years held
In US dollars, as Upstream Bio reports it. Most recent year shaded. Totals are the company’s disclosed totals.
ComponentFY2024FY2025
Salary$352,667$490,000
Bonus$0$0
Stock awards$0$0
Option awards$2,401,910$1,287,137
Non-equity incentive$184,000$205,800
Pension and deferred compensation$0$0
All other$0$10,500
Total$2,938,577$1,993,437

Each year as stated in that year's proxy. A dash means the company reported no figure in that column. Source: Upstream Bio, Inc. DEF 14A filed April 16, 2026, accession 0001193125-26-158966, and prior-year filings. Open the filing on EDGAR.

How this page was built: the Upstream Bio, Inc. filed document, accession 0001193125-26-158966. Every figure is read from that document and cited to the page and table it appears in. Filed April 16, 2026.

$2.9M
$2.0M
FY24
FY25
SalaryNon-equity incentiveOption awardsAll other

Equity holdings

unvested awards at FY2025 year-end
TypeUnvested unitsValue at year-endExercise price
Option250,335—$5.69
Option154,375—$8.53
Option88,930—$5.69

Per the Outstanding Equity Awards at Fiscal Year-End table in Upstream Bio, Inc.'s FY2025 proxy; value at the fiscal year-end close, as the company printed it.

Upstream Bio’s named executive officers, FY2025

as the company reported each
Named executive officerRoleFY2025 total
E. Rand SutherlandChief Executive Officer$4,302,100
Michael Paul Gray · this pageChief Financial Officer and Chief Operating Officer$1,993,437
Aaron DeykinChief Medical Officer and Head of Research and Development$1,830,916

Michael Paul Gray's compensation dossier, Upstream Bio

You have read Michael Paul Gray's totals and holdings. The dossier adds each equity grant Upstream Bio disclosed for Michael Paul Gray and Upstream Bio's own disclosed peer group, where the company discloses them, with every row in a PDF and a CSV cited to its filing.

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The full Upstream Bio compensation record

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This page is one person within Upstream Bio's record. The company brief lists every named executive, each linking to their own page.

Compensation, the day it’s disclosed

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How this record is built

Every figure on this page is one figure from a public SEC filing, printed as the filing states it and cited to the document. Compensation totals are Upstream Bio's own disclosed totals, not summed by Velarion. Insider transactions are read from Form 4 filings and cover every line filed since the most recent proxy. Nothing is estimated by Velarion; where the company does not disclose a value the cell reads "—", and a section appears only where the company discloses the data. Corrections: records@velarion.ai.

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Michael Paul Gray's compensation dossier