Pay Versus Performance
The information below is provided in accordance with the SEC pay versus performance disclosure requirements set forth in Item 402(v) of Regulation S-K under the Exchange Act (“Pay Versus Performance Rules”). These Pay Versus Performance Rules require companies to disclose certain information about the relationship between the compensation of our principal executive officer (“PEO”) and non-PEO Named Executive Officers (“Non-PEO NEOs”) (as a group) and certain financial performance measures. The Company does not use any financial performance measures to link compensation actually paid (“CAP”) to Company performance. Consequently, no “Company Selected Measure” is included in the table below.
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Arthur Kuan |
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Fiscal Year |
Summary Compensation Table Total for PEO |
Compensation Actually Paid to PEO |
Average Summary Compensation Table Total for Non-PEO NEOs |
Average Compensation Actually Paid to Non-PEO NEOs |
Total Shareholder Return |
Peer Group Total Shareholder Return |
Net Income ($M) |
(a) |
(b) |
(c) |
(d) |
(e) |
(f) |
(g) |
(h) |
2025 |
$11,928,401 |
$28,624,473 |
$2,329,451 |
$3,729,253 |
$111.70 |
$131.07 |
($161.00) |
2024 |
$11,172,212 |
$23,438,065 |
$7,543,355 |
$14,943,187 |
$77.16 |
$98.23 |
($88.04) |
1 The dollar amounts reported in column (b) are the amounts of total compensation reported for our PEO (Arthur Kuan) for each corresponding year in the “Total” column of the Summary Compensation Table.
2 The dollar amounts reported in column (c) and (e) represent the amount of CAP, as computed in accordance with SEC rules. “Compensation actually paid” does not necessarily represent cash and/or equity value transferred to the applicable NEO without restriction, but rather is a value calculated under applicable SEC rules. We do not have a defined benefit plan so no adjustment for pension benefits is included in the table below. The following table details these adjustments:
Compensation Actually Paid to PEO (Arthur Kuan) |
FY 2024 |
FY 2025 |
Summary Compensation Table Total |
$11,172,212 |
$11,928,401 |
- Grant date fair value of option awards and stock awards granted in fiscal year |
($10,135,228) |
($10,802,398) |
+ Year-end fair value of outstanding and unvested equity awards granted in the fiscal year |
$6,994,711 |
$18,001,454 |
+ Year over year change in fair value of outstanding and unvested equity awards granted in prior fiscal years |
$10,302,049 |
$6,806,161 |
+ Fair value as of the vesting date of vested awards granted in current fiscal year |
$411,133 |
$2,158,573 |
+ Year over year change in fair value of equity awards granted in prior fiscal years that vested in the fiscal year |
$4,693,189 |
$532,282 |
- Prior fiscal year end value of any equity awards granted in prior fiscal years that failed to meet vesting conditions during the covered fiscal year |
$0 |
$0 |
Compensation Actually Paid |
$23,438,065 |
$28,624,473 |
Compensation Actually Paid to Non-PEO NEOs |
FY 2024 |
FY 2025 |
Summary Compensation Table Total |
$7,543,355 |
$2,329,451 |
- Grant date fair value of option awards and stock awards granted in fiscal year |
($6,814,699) |
($1,819,484) |
+ Year-end fair value of outstanding and unvested equity awards granted in the fiscal year |
$7,586,363 |
$2,705,248 |
+ Year over year change in fair value of outstanding and unvested equity awards granted in prior fiscal years |
$2,923,728 |
$1,351,086 |
+ Fair value as of the vesting date of vested awards granted in current fiscal year |
$139,049 |
$454,883 |
+ Year over year change in fair value of equity awards granted in prior fiscal years that vested in the fiscal year |
$3,565,390 |
$69,497 |
- Prior fiscal year end value of any equity awards granted in prior fiscal years that failed to meet vesting conditions during the covered fiscal year |
$0 |
($1,361,429) |
Compensation Actually Paid |
$14,943,187 |
$3,729,253 |
3 The dollar amounts reported in column (d) represent the average of the amounts reported for our Non-PEO NEOs as a group in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of our Non-PEO NEOs included for purposes of calculating the average amounts in each applicable year are as follows:
Fiscal Year |
Non-PEO NEOs |
2025 |
Ambaw Bellete, Corleen Roche, Vijay Kasturi, Robert Lapetina, Joshua F. Patterson, and Jim DeTore |
2024 |
Ambaw Bellete and Corleen Roche |
4 TSR determined in Column (f) is based on the value of an initial fixed investment of $100 in CGON as of January 25, 2024 (CGON’s IPO date). TSR determined in Column (g) is based on the value of an initial fixed investment of $100 in the Nasdaq Biotechnology Index as of January 25, 2024.
5 The dollar amounts in Column (h) are CGON’s GAAP Net Income for each fiscal year (in millions).
Fiscal Year |
Non-PEO NEOs |
2025 |
Ambaw Bellete, Corleen Roche, Vijay Kasturi, Robert Lapetina, Joshua F. Patterson, and Jim DeTore |
2024 |
Ambaw Bellete and Corleen Roche |
Compensation Actually Paid to PEO (Arthur Kuan) |
FY 2024 |
FY 2025 |
Summary Compensation Table Total |
$11,172,212 |
$11,928,401 |
- Grant date fair value of option awards and stock awards granted in fiscal year |
($10,135,228) |
($10,802,398) |
+ Year-end fair value of outstanding and unvested equity awards granted in the fiscal year |
$6,994,711 |
$18,001,454 |
+ Year over year change in fair value of outstanding and unvested equity awards granted in prior fiscal years |
$10,302,049 |
$6,806,161 |
+ Fair value as of the vesting date of vested awards granted in current fiscal year |
$411,133 |
$2,158,573 |
+ Year over year change in fair value of equity awards granted in prior fiscal years that vested in the fiscal year |
$4,693,189 |
$532,282 |
- Prior fiscal year end value of any equity awards granted in prior fiscal years that failed to meet vesting conditions during the covered fiscal year |
$0 |
$0 |
Compensation Actually Paid |
$23,438,065 |
$28,624,473 |
Compensation Actually Paid to Non-PEO NEOs |
FY 2024 |
FY 2025 |
Summary Compensation Table Total |
$7,543,355 |
$2,329,451 |
- Grant date fair value of option awards and stock awards granted in fiscal year |
($6,814,699) |
($1,819,484) |
+ Year-end fair value of outstanding and unvested equity awards granted in the fiscal year |
$7,586,363 |
$2,705,248 |
+ Year over year change in fair value of outstanding and unvested equity awards granted in prior fiscal years |
$2,923,728 |
$1,351,086 |
+ Fair value as of the vesting date of vested awards granted in current fiscal year |
$139,049 |
$454,883 |
+ Year over year change in fair value of equity awards granted in prior fiscal years that vested in the fiscal year |
$3,565,390 |
$69,497 |
- Prior fiscal year end value of any equity awards granted in prior fiscal years that failed to meet vesting conditions during the covered fiscal year |
$0 |
($1,361,429) |
Compensation Actually Paid |
$14,943,187 |
$3,729,253 |
The graph below (i) sets forth the relationship between the amount of Compensation Actually Paid to our PEO, the average amount of Compensation Actually Paid to our Non-PEO NEOs, and the Company’s cumulative TSR over the two most recently completed fiscal years; and (ii) compares our cumulative TSR over the two most recently completed fiscal years to that of the Nasdaq Biotechnology Index over the same period.
The graph below sets forth the amount of Compensation Actually Paid to our PEO, the average amount of Compensation Actually Paid to our Non-PEO NEOs, and our net income during the two most recently completed fiscal years.
The graph below (i) sets forth the relationship between the amount of Compensation Actually Paid to our PEO, the average amount of Compensation Actually Paid to our Non-PEO NEOs, and the Company’s cumulative TSR over the two most recently completed fiscal years; and (ii) compares our cumulative TSR over the two most recently completed fiscal years to that of the Nasdaq Biotechnology Index over the same period.
Tabular List of Performance Measures
The Company's executive compensation program is designed to incentivize our NEOs to advance the Company's clinical and operational priorities and increase the long-term value of our enterprise for our stockholders. As a clinical-stage biopharmaceutical company, the Company does not currently use any financial performance measures to link compensation actually paid to our NEOs to the Company's performance. However, the most important performance measures used by the Company to link compensation actually paid to our NEOs, for the most recently completed fiscal year, to the Company's performance are as follows:
Most Important Performance Measures |
Regulatory Advancement |
Commercial Readiness |
Pipeline Development |