Vanda Pharmaceuticals Announces Changes to Executive Compensation Structure

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) recently disseminated key information regarding executive compensation adjustments for the year 2025. According to a form 8-K filed with the Securities and Exchange Commission (SEC), Vanda Pharmaceuticals’ Board of Directors, specifically the Compensation Committee, has approved changes to the annual bonuses, base salaries, and bonus target amounts of its top-level executives.

The Compensation Committee undertook a meticulous review of the Company’s executive compensation vis-a-vis its peer group. The analysis was facilitated by Willis Towers Watson, a global advisory, broking and solutions firm specializing in risk, health and human capital strategies.

A detailed examination reveals that bonuses for performance for the year ended on December 31, 2024, have been granted to named executive officers. President and CEO, and Chairman of the Board, Mihael Polymeropoulos, M.D., received a bonus of $947,928. The Senior Vice Presidents, namely Kevin Moran (CFO and Treasurer), Gunther Birznieks (Business Development), Timothy Williams (General Counsel and Secretary) each received a bonus of $309,181. Joakim Wijkstrom, Chief Marketing Officer, was awarded a bonus of $320,040.

Furthermore, the Compensation Committee approved increases for 2025 annual base salaries and target bonus amounts. CEO Polymeropoulos will have a base salary of $965,655, with an 80% target bonus. The aforementioned Senior Vice Presidents will all have a base salary of $559,935, each with a 45% target bonus, with the exception of Joakim Wijkstrom, who got a salary of $579,600 and a 45% target bonus.

On another note, all named executive officers have been awarded restricted stock unit (RSU) awards as part of the Company’s Amended and Restated 2016 Equity Incentive Plan. The RSUs are set to vest in four equal annual installments starting from March 1, 2026.

This important development in Vanda Pharmaceuticals maintains the thrust of the company in associating executive compensation with performance. This is in line with fostering improved performance of executives and driving the achievement of the company’s overall objectives.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Vanda Pharmaceuticals’s 8K filing here.

Vanda Pharmaceuticals Company Profile

Vanda Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of therapies to address high unmet medical needs worldwide. The company’s marketed products include HETLIOZ to treat non-24-hour sleep-wake disorders; and Fanapt oral tablets for the treatment of schizophrenia.