Biopharma & Life Sciences
Upstream Bio Executive Compensation (FY25)
UPB · Executive and director compensation, fiscal 2024 to 2025
Data as of September 7, 2026Latest filing (DEF 14A): April 16, 2026
73 figures on this page, cited to the filing that reported them. See the citations
The fiscal 2025 disclosure covers 3 named executive officers, and disclosures span fiscal 2024 through fiscal 2025. E. Rand Sutherland, Chief Executive Officer, received $4,302,100 in total compensation for fiscal 2025, while compared with the $9,108,953 reported for fiscal 2024, Sutherland's total was 52.8% lower. As an emerging growth company, the company is exempt from the advisory say-on-pay vote.
This company is not required to report a chief executive pay ratio.
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 — E. Rand Sutherland: $9,108,953 → $4,302,100 (52.8% lower)
Frequently asked questions
Answers drawn from the data on this page.
Who is Upstream Bio's chief executive and what were they paid?
E. Rand Sutherland, Chief Executive Officer, received $4,302,100 in total compensation for fiscal 2025. Compared with the $9,108,953 reported for fiscal 2024, Sutherland's total was 52.8% lower.
What was Upstream Bio's say-on-pay result?
As an emerging growth company, the company is exempt from the advisory say-on-pay vote.
Executive compensation
Every element reported for each named executive officer, by fiscal year.
Fiscal 2024
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
E. Rand Sutherland Chief Executive Officer | ◇ | — | — | ◇ | ◇ | — | ◇ | ◇ |
Michael Paul Gray Chief Financial Officer and Chief Operating Officer | ◇ | — | — | ◇ | ◇ | — | — | ◇ |
Fiscal 2025
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
E. Rand Sutherland Chief Executive Officer | ◇ | — | — | ◇ | ◇ | — | ◇ | ◇ |
Michael Paul Gray Chief Financial Officer and Chief Operating Officer | ◇ | — | — | ◇ | ◇ | — | ◇ | ◇ |
Aaron Deykin Chief Medical Officer and Head of Research and Development | ◇ | — | — | ◇ | ◇ | — | ◇ | ◇ |
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
| Officer | Award | Grant date | Threshold units | Target units | Units granted | Maximum units | Exercise price | Grant date fair value |
|---|---|---|---|---|---|---|---|---|
| E. Rand Sutherland | OPTION | ◇ | — | — | ◇ | — | ◇ | ◇ |
Fiscal 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
| Officer | Award | Unvested units | Market value of unvested units | Exercise price | Expires |
|---|---|---|---|---|---|
| Aaron Deykin | Option | ◇ | — | ◇ | 02/05/2035 |
| Option | ◇ | — | ◇ | 05/01/2034 | |
| Option | ◇ | — | ◇ | — | |
| Option | ◇ | — | ◇ | 06/03/2032 | |
| Option | ◇ | — | ◇ | 08/09/2033 | |
| Option | ◇ | — | ◇ | 03/02/2033 | |
| Option | ◇ | — | ◇ | 06/03/2032 | |
| E. Sutherland | Option | ◇ | — | ◇ | 04/24/2034 |
| Option | ◇ | — | ◇ | 04/03/2034 | |
| Option | ◇ | — | ◇ | 02/05/2035 | |
| Michael Gray | Option | ◇ | — | ◇ | 03/26/2034 |
| Option | ◇ | — | ◇ | 03/26/2034 | |
| Option | ◇ | — | ◇ | 02/05/2035 |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director compensation
What each non-employee director was paid.
Fiscal 2025
| Director | Fees earned in cash | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|
Ronald C. Renaud, Jr Board chair | ◇ | — | ◇ | — | — | — | ◇ |
H. Edward Fleming, Jr | ◇ | — | ◇ | — | — | — | ◇ |
Marcella Kuhlman Ruddy | ◇ | — | ◇ | — | — | — | ◇ |
Erez Chimovits, Daniella Beckman, E. Rand Sutherland and Liam Ratcliffe 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.
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 | ◇ |
Equity is delivered as Stock Options.
Disclosed peer group
The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Say-on-pay history
Shareholder support for the compensation program, by year.
This company is an emerging growth company and is exempt from the advisory vote on executive compensation. There is no vote to report.
What this page does not include
Everything above is a fact Upstream Bio disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
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 — $1,500Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200Realizable 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.
Velarion IntelligenceAdviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
Enquire about accessMultiple companies at once
Cross-company views, cohort screens, and data export across the industries we cover. This page is one company; the platform is all of them.
Velarion IntelligenceCitations
Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
73 figures on this page, cited to the filing that reported them.
73 cited to the filing
Documents cited
- 0001193125-26-1589662025 Director Compensation Table · 2025 Summary Compensation Table · EXE CUTIVE COMPENSATION · Non-Employee Director Compensation · and 1 more section
- 0000950170-25-0553722024 Summary Compensation Table
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Upstream Bio executive compensation, FY2024–FY2025.” https://intel.velarion.ai/comp/UPB (accessed 2026).
Short form: data: Velarion
Embed this data
A small, cited view of this data for your own page or newsletter. Every embed carries a visible link back here, so the attribution travels with it.
The headline figures, each with its citation.
Connect an AI assistant
Ask your own assistant about Upstream Bio and roughly 3,000 other US public companies, and get back the same figures on this page with the same citations. Free read access, no account. Add this to your assistant's connector settings.
Biopharma & Life Sciences rankings
Terms on this page
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}
}