Financial records made public show the CEO of biotech company Moderna last year earned roughly $393 million from stock options he exercised and got a 50% raise.
CEO Stephane Bancel received $1.5 million in 2022, an increase of 50% from the previous year, and Moderna increased his target cash bonus, according to securities and exchange commission filing filed in March.
The National Institutes of Health gave $1.7 billion in taxpayer funding to Moderna to develop the COVID vaccine, putting the CEO’s salary and stock options under scrutiny.
After the Securities an Exchange Commission report was published, Bancel said he and his wife generated $393 million from the sale of stock options and they donated $176 million in after-tax proceeds to charity in 2022.