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Biopharma & Life Sciences

Vaxcyte Executive Compensation (FY25)

PCVX · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Grant Pickering
Latest say-on-pay support
=
June 15, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of October 20, 2026Latest filing (8-K): June 16, 2026
10 filings cited on this page
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304 figures on this page: 299 cited to the filing that reported them, 5 calculated from figures it prints. See the citations

More on Vaxcyte

Five data products on this company. Each one is requested through the developer setup page.
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Grant Pickering: $39,639,512 → $14,458,937 (63.5% lower)
CEO pay ratio: 123:1 → 48:1 (61.0% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Vaxcyte's chief executive and what were they paid?
Total compensation for Grant Pickering, Chief Executive Officer, came to $14,458,937 in fiscal 2025. Compared with the $39,639,512 reported for fiscal 2024, Pickering's total was 63.5% lower.
What was Vaxcyte's say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 97.7% of votes cast including abstentions in favor at the meeting held June 15, 2026.
Which companies are in Vaxcyte's peer group?
The disclosed peer group names Alnylam Pharmaceuticals, Inc., BeOne Medicines, Ltd., BioMarin Pharmaceutical Inc., Blueprint Medicines Corporation and BridgeBio Pharma, Inc., among others.
What is Vaxcyte's chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 48:1, against median employee compensation of $303,873.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Grant Pickering
Chief Executive Officer
◇◇◇◇◇—◇◇
Jim Wassil
Executive Vice President and Chief Operating Officer
◇◇◇◇◇—◇◇
Andrew Guggenhime
President and Chief Financial Officer
◇◇◇◇◇—◇◇
Mikhail Eydelman
Senior Vice President, General Counsel and Corporate Secretary
◇◇◇◇◇—◇◇
Paul Sauer
Senior Vice President, Process Development and Manufacturing
◇◇◇◇◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Grant Pickering
Chief Executive Officer
◇—◇◇◇—◇◇
Andrew Guggenhime
President and Chief Financial Officer
◇—◇◇◇—◇◇
Jim Wassil
Executive Vice President and Chief Operating Officer
◇—◇◇◇—◇◇
Mikhail Eydelman
Senior Vice President, General Counsel and Corporate Secretary
◇—◇◇◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Grant Pickering
Chief Executive Officer
◇—◇◇◇—◇◇
Andrew Guggenhime
President and Chief Financial Officer
◇—◇◇◇—◇◇
Jim Wassil
Executive Vice President and Chief Operating Officer
◇—◇◇◇—◇◇
Mikhail Eydelman
Senior Vice President, General Counsel, Chief Compliance Officer and Corporate Secretary
◇—◇◇◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Grant Pickering
Chief Executive Officer
◇—◇◇◇—◇◇
Andrew Guggenhime
President and Chief Financial Officer
◇—◇◇◇—◇◇
Jim Wassil
Executive Vice President and Chief Operating Officer
◇—◇◇——◇◇
Mikhail Eydelman
Senior Vice President, General Counsel, Chief Compliance Officer and Corporate Secretary
◇—◇◇◇—◇— not reconciled
Harp Dhaliwal
Chief Technical Operations Officer
◇—◇◇◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Andrew GuggenhimeOPTION◇——◇—◇◇
Andrew GuggenhimeRSU◇——◇——◇
Harp DhaliwalRSU◇——◇——◇
Harp DhaliwalOPTION◇——◇—◇◇
Jim WassilRSU◇——◇——◇
Jim WassilOPTION◇——◇—◇◇
Mikhail EydelmanRSU◇——◇——◇
Mikhail EydelmanOPTION◇——◇—◇◇
Fiscal 2022, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Jim WassilOption◇—◇2/26/2035
RSU◇◇——
Option◇—◇3/1/2033
RSU◇◇——
Option◇—◇3/1/2032
RSU◇◇——
Option◇—◇3/1/2032
Option◇—◇12/30/2032
Option◇—◇2/28/2034
PSU◇◇——
Mikhail EydelmanRSU◇◇——
RSU◇◇——
Option◇—◇5/8/2032
Option◇—◇12/30/2032
Option◇—◇2/28/2034
Option◇—◇3/1/2033
RSU◇◇——
Option◇—◇2/26/2035
RSU◇◇——
Harp DhaliwalRSU◇◇——
PSU◇◇——
Option◇—◇12/30/2032
Option◇—◇3/1/2032
RSU◇◇——
RSU◇◇——
Option◇—◇2/28/2034
Option◇—◇2/26/2035
Option◇—◇3/1/2033
Grant PickeringPSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇3/1/2033
Option◇—◇3/1/2032
Option◇—◇12/30/2032
RSU◇◇——
Option◇—◇2/28/2034
Option◇—◇2/26/2035
Andrew GuggenhimeOption◇—◇3/1/2032
RSU◇◇——
Option◇—◇2/28/2034
Option◇—◇2/26/2035
RSU◇◇——
RSU◇◇——
Option◇—◇3/1/2033
Option◇—◇12/30/2032
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
Andrew Guggenhime
President and Chief Financial Officer · Offer letter
Severance multiple◇
Change-in-control multiple◇
Grant Pickering
Chief Executive Officer · Employment agreement · citing a 2020 filing
Severance multiple◇
Severance base◇
Benefits continuation◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Olivier Brandicourt
◇◇◇———◇
Carlos Paya
Board chair
◇◇◇———◇
Teri Loxam
◇◇◇———◇
Halley Gilbert
◇◇◇———◇
Annie Drapeau
◇◇◇———◇
Jacks Lee
◇◇◇———◇
Heath Lukatch
◇◇◇———◇
John Furey
◇◇◇———◇
Peter Hirth
◇—◇———◇
Grant E. Pickering served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Board chair premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Alnylam Pharmaceuticals, Inc. ALNY
  • BeOne Medicines, Ltd. ONC
  • BioMarin Pharmaceutical Inc. BMRN
  • Blueprint Medicines Corporation BPMC
  • BridgeBio Pharma, Inc. BBIO
  • Cytokinetics, Incorporated CYTK
  • Exelixis, Inc. EXEL
  • Immunovant, Inc. IMVT
  • Incyte Corporation INCY
  • Insmed Incorporated INSM
  • Intra-Cellular Therapies, Inc. ITCI
  • Moderna, Inc. MRNA
  • Neurocrine Biosciences, Inc. NBIX
  • Revolution Medicines, Inc. RVMD
  • Sarepta Therapeutics, Inc. SRPT
  • Summit Therapeutics Inc. SMMT
  • United Therapeutics Corporation UTHR

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025June 15, 2026=◇◇◇
2024June 12, 2025=◇◇◇
2023June 6, 2024=◇◇◇
2022June 13, 2023=◇◇◇
2021June 1, 2022=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

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Sample answer — “What is the CEO’s total compensation?”
- Grant Pickering (Chief Executive Officer), FY2025 total compensation $14,458,937 (base salary $800,000) [exec_comp, SEC accession 0001193125-26-173672, filed 2026-04-23]

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What this page does not include

Everything above is a fact Vaxcyte disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Vaxcyte sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $499
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
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Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
304 figures on this page: 299 cited to the filing that reported them, 5 calculated from figures it prints.
299 cited to the filing
5 calculated from the filing

Documents cited

  1. 0001649094-26-000021
  2. 0001193125-26-173672
    DIRECTOR COMPENSATION · Director Compensation for 2025 · Executive Compensation Tables · Executive Officer Pay Ratio · and 2 more sections
  3. 0001649094-25-000084
  4. 0001193125-25-100425
  5. 0001193125-24-158355
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001193125-24-096192
    Executive Compensation Tables
  7. 0001193125-23-167882
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001193125-23-123940
  9. 0001193125-22-169367
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0001193125-20-150234
    EX-10.7
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Vaxcyte executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/PCVX (accessed 2026).
Short form: data: Velarion

The paid brief for Vaxcyte

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $499 for the board report; $2,400 for both.
Get the executive briefGet the board briefNo account needed.
10 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Biopharma & Life Sciences rankings

Chief executive pay — Biopharma & Life SciencesCEO pay ratio — Biopharma & Life SciencesSay-on-pay support — Biopharma & Life Sciences

Peers Vaxcyte discloses

The companies named in PCVX's own disclosed peer group.

Alnylam Pharmaceuticals, Inc.BeOne Medicines, Ltd.BioMarin Pharmaceutical Inc.Blueprint Medicines CorporationBridgeBio Pharma, Inc.Cytokinetics, IncorporatedExelixis, Inc.Immunovant, Inc.Incyte CorporationInsmed IncorporatedIntra-Cellular Therapies, Inc.Moderna, Inc.Neurocrine Biosciences, Inc.Revolution Medicines, Inc.Sarepta Therapeutics, Inc.Summit Therapeutics Inc.United Therapeutics Corporation

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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