Adaptive Biotechnologies Corp
For the period ended Jun 10, 2025. Filed Apr 29, 2025.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Jun 10, 2025 · Filed Apr 29, 2025
Contents
Pay-Versus-Performance
The following table reports the compensation of our Principal Executive Officer (“PEO”) and the average compensation of the
non-PEO
named executive officers (“NEOs”) as reported in the “
Summary Compensation Table
” table (“SCT”) in our proxy statements for the past five fiscal years, as well as Compensation Actually Paid (“CAP”) as calculated under SEC
Pay-Versus-Performance
(“PVP”) rules and certain performance measures required by the rules. The disclosure covers our five most-recent fiscal years. Dollar amounts reported as CAP are computed in accordance with Item 402(v) of Regulation
S-K,
and these amounts do not reflect the actual amount of compensation earned by or paid to our PEO and other NEOs during the applicable years.
| Year(1) · SCT Total for PEO ($) · Compensation Actually Paid to PEO(2) ($) · Average SCT Total for Non- PEO NEOs ($) · Average Compensation Actually Paid to Non-PEO NEOs(2) ($) · Value of Initial Fixed $100 Investment Based on: · Net Income (in thousands) ($) · Revenue(4) (in thousands) ($) | ||||||||
|---|---|---|---|---|---|---|---|---|
| Total Shareholder Return ($) · Peer Group Total Shareholder Return(3) ($) | ||||||||
| (a) | (b) | (c) | (d) | (e) | (f) | (g) | (h) | (i) |
| 2024 | 4,973,301 | 8,354,482 | 2,387,776 | 569,712 | 20 | 118 | (159,595) | 178,957 |
| 2023 | 8,904,267 | 2,745,457 | 4,257,240 | 1,361,275 | 16 | 119 | (225,304) | 170,276 |
| 2022 | 8,853,328 | (1,144,530) | 4,316,929 | (2,584,615) | 26 | 114 | (200,368) | 185,308 |
| 2021 | 8,751,617 | (6,175,537) | 5,865,883 | (3,112,380) | 94 | 126 | (207,298) | 154,344 |
| 2020 | 7,131,118 | 24,866,836 | 4,133,719 | 14,493,980 | 198 | 126 | (146,227) | 98,382 |
| (1) | Mr. Robins served as our PEO in each year shown. The non-PEO NEOs reflected in columns (d) and (e) above represent the following individuals for each of the years shown: |
| • | 2024 – Mr. Peterson (until his resignation in April 2024), Mr. Piskel (Mr. Piskel became Chief Financial Officer in April 2024), Dr. Benzeno, Dr. Robins and Ms. Rubinstein; |
| • | 2023 – Mr. Peterson, Dr. Benzeno, Dr. Robins and Ms. Rubinstein; |
| • | 2022 – Mr. Peterson (Mr. Peterson joined the Company in 2022), Dr. Benzeno, Dr. Robins, Ms. Rubinstein, Chad Cohen (until his resignation in February 2022) and Mr. Piskel (Mr. Piskel served as interim Chief Financial Officer until June 2022); |
| • | 2021 – Mr. Cohen, Dr. Robins, Ms. Rubinstein and Nitin Sood (Mr. Sood joined the Company in 2021); and |
| • | 2020 – Mr. Cohen, Dr. Robins, Ms. Rubinstein and Mark Adams, PhD (Mr. Adams joined the Company in 2020). |
Biographical information for each of these individuals and their positions can be found above, or in the proxy for the year upon which compensation was reported, under the heading “
Executive Officers
.”
| (2) | The “Summary Compensation Table” table totals reported for the PEO and the average of the non-PEO NEOs for each year were subject to the following adjustments per Item 402(v)(2)(iii) of Regulation S-K to calculate “Compensation Actually Paid”: |
| 2024 · 2023 · 2022 · 2021 · 2020 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| PEO($) | Average for non-PEO NEOs ($) | PEO ($) | Average for non-PEO NEOs ($) | PEO ($) | Average for non-PEO NEOs ($) | PEO ($) | Average for non-PEO NEOs ($) | PEO ($) | Average for non-PEO NEOs ($) | |
| Summary Compensation Table | 4,973,301 | 2,387,776 | 8,904,267 | 4,257,240 | 8,853,328 | 4,316,929 | 8,751,617 | 5,865,883 | 7,131,118 | 4,133,719 |
| Adjustments | ||||||||||
| Deduction for Amounts Reported Under the “Stock Awards” and “Option Awards” Columns of the Summary Compensation Table(a) | (3,716,313) | (1,791,706) | (7,900,711) | (3,600,176) | (7,668,040) | (3,816,562) | (7,592,784) | (5,261,470) | (6,013,620) | (3,505,789) |
| Increase (Decrease) for the Inclusion of Item 402(v) Equity Values | ||||||||||
| Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year | 5,928,967 | 2,924,160 | 3,859,556 | 1,929,580 | 4,260,108 | 3,475,247 | 4,773,662 | 3,685,849 | 11,996,993 | 7,112,321 |
| Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards | 1,345,301 | 466,245 | (2,116,270) | (1,152,972) | (3,341,668) | (1,728,734) | (7,548,036) | (4,771,395) | 9,842,095 | 5,682,430 |
| Change in Fair Value of Prior Years’ Equity Awards that Vested During the Year | (176,774) | (139,436) | (1,385) | (72,397) | (3,248,258) | (1,519,418) | (4,559,996) | (2,631,247) | 1,910,250 | 1,071,299 |
| Change in Value of Prior Years’ Equity Awards that Forfeited During the Year | — | (3,277,327) | — | — | — | (3,312,077) | — | — | — | — |
| Compensation Actually Paid | 8,354,482 | 569,712 | 2,745,457 | 1,361,275 | (1,144,530) | (2,584,615) | (6,175,537) | (3,112,380) | 24,866,836 | 14,493,980 |
| (a) | Amounts in this row reflect the aggregate grant date fair value of RSUs, PSUs and options computed in accordance with ASC 718, rather than the amounts paid or realized by the named individual. We |
provide information regarding the assumptions used to calculate the grant date fair value of our RSUs, PSUs and options in Note 14 to our audited consolidated financial statements filed with our Annual Report on Form 10-K for the year ended December 31, 2024.
| (3) | Peer group total shareholder return reflects the Nasdaq Biotechnology Index for all five fiscal years disclosed, which aligns with the peer group used in our Annual Report on Form 10-K for each of these years. |
| (4) | Revenue was chosen from the following three most important financial performance measures used by us to link compensation actually paid to the PEO and non-PEO NEOs in 2024 to the Company’s performance: |
| Performance Metrics | |
|---|---|
| Revenue | Refer to “Incentive Compensation and 2024 Goals Achievement” under “Compensation Discussion and Analysis-Elements of Executive Compensation” |
| Operating Expenses | Refer to “Incentive Compensation and 2024 Goals Achievement” under “Compensation Discussion and Analysis-Elements of Executive Compensation” |
| TSR | Refer to “Establishing Target Equity Values and Equity Structure for our Executives” under “Compensation Discussion and Analysis-Executive Compensation Design and Philosophy” |
Supplemental Graphs & Narratives
Our compensation philosophy is to pay named executive officers for performance. To encourage our named executive officers to drive stock price performance, we pay more than 50% of total compensation in equity.
The Compensation Actually Paid versus the TSR chart shows how compensation and our stock price have moved the same directionally over the past five years. The alignment between the compensation actually paid and TSR demonstrate that our compensation program is operating as intended. We believe consistent long-term growth in net income and revenue positively impacts our TSR performance over time and the value our named executive officers realize from their equity awards which can be seen in the growth from 2023 to 2024.
Company TSR vs Peer Group TSR and CAP
CAP vs Company Net Income and Revenue
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.