REGENERON PHARMACEUTICALS, INC.
For the period ended Jun 12, 2026. Filed Apr 24, 2026.
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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 12, 2026 · Filed Apr 24, 2026
Contents
Compensation Program Objectives and Principles
Regeneron’s executive compensation program is designed to pay for performance, drive the creation of long-term,
sustainable shareholder value, deliver compensation that is competitively positioned amongst Regeneron’s peers,
encourage a shareholder mindset, and align with the pursuit and achievement of both our short-term and long-term
strategic goals. Managing our business for the long term is core to our culture, as demonstrated by our history of growing
through innovation and through a pipeline of internally developed medicines. A key objective of the pay program at
Regeneron is to attract and retain talented leaders who can innovate and execute effectively. The compensation program
must further support the board’s and management’s broader objectives, such as those relating to research and product
development; access to our medicines; quality and compliance; and human capital management.
We strive to achieve these objectives by following the core principles of compensation design set out below:
| Drive innovation through ownership cultureOur objective is to create and reinforce a culture where employees think and act like owners, are empowered to pursue fulfilling careers, and focus on our mission of drug discovery and development. We believe a broad-based equity program that incentivizes long-term performance and promotes employee retention is a key ingredient in achieving this culture of ownership and innovation. Every one of the more than 15,000 Regeneron full-time employees has an ownership interest in Regeneron. | Prioritize design simplicity and long-term orientationTying compensation to long-term, Company-wide success and straightforward Company goals has enabled us to encourage decision-making that we believe is consistent with the long-term sustainability of our Company and our reputation. Our objective is to remain nimble, to encourage evolutionary ideas when strategies need to change, and to have the ability to pivot quickly if needed, without being hindered by overly complex compensation structures. |
| Provide at-risk, equity-based pay to all employeesA key part of our pay philosophy since our inception has been to award equity-based pay to all employees, not just senior executives, to ensure that when we deliver for patients and for shareholders, everyone shares in our success. In line with this goal, approximately 90% of the employee equity grants in each of the last five years were awarded to our employees other than our NEOs. We believe this approach represents one of our competitive advantages and has resulted in an engaged workforce and high retention rates. | Align with shareholder interestsOur objective has always been to ensure close alignment with shareholder interests. All of the direct pay7 of our CEO and CSO, except for base salaries, depends on performance and is “at-risk.” More broadly, the long-term nature of our equity program is consistent with the drug discovery and development cycle, and, therefore, helps drive the creation of long-term shareholder value. Further information about pay-versus-performance alignment is provided in the subsection “Compensation Dashboard—Additional Compensation Information —Pay Versus Performance.” |
7 We define “direct pay” or “direct compensation” as total compensation as reported in the Summary Compensation Table in the applicable proxy
statement, other than the amounts reported as “All other compensation” and (if applicable) amounts reported under “Change in pension value and
nonqualified deferred compensation earnings.”
| 62 | 2026 Proxy Statement and Notice of Annual Shareholder Meeting |
| Introduction | Board of Directors | Corporate Governance | The Company | Compensation-Related Matters | Other Matters |
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