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ADMA Biologics (NASDAQ:ADMA), Inc., a Delaware-incorporated biopharmaceutical company, has disclosed changes in executive compensation and director retainers on February 19, 2025, as per a recent SEC filing. The company, trading on the Nasdaq Global Market under the ticker ADMA, has adjusted salaries, bonuses, and equity awards for its top executives. The compensation changes come as ADMA demonstrates strong financial performance, with InvestingPro data showing profitability over the last twelve months and expectations for continued net income growth this year.
The Board of Directors, acting on the Compensation Committee’s advice, approved the 2025 base salary and 2024 performance-related cash bonuses for President and CEO Adam S. Grossman, COO and Senior VP of Compliance Kaitlin Kestenberg, and CFO and Treasurer Brad Tade. Grossman’s base salary is set at $925,000 with a cash bonus of $1,020,000. Kestenberg will receive a $575,000 salary and a $293,625 bonus, while Tade’s salary is $500,000 with a $254,475 bonus. These compensation packages reflect ADMA’s impressive performance, with InvestingPro analysis showing strong returns over both the last year and the past five years. For deeper insights into ADMA’s financial health and valuation metrics, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
Additionally, the executives were granted restricted stock units (RSUs) and stock options. Grossman was awarded 252,022 RSUs and 376,744 options, Kestenberg received 77,784 RSUs and 116,279 options, and Tade was given 62,227 RSUs and 93,023 options. The stock options have an exercise price of $16.07, equal to the closing price of ADMA’s common stock on the grant date, and will vest over four years. According to InvestingPro analysis, ADMA maintains strong liquidity with liquid assets exceeding short-term obligations, while operating with a moderate level of debt.
The Compensation Committee also recommended changes in director compensation. Non-employee directors will now receive annual equity grants valued at $350,000, split evenly between RSUs and stock options. Committee chair and member retainers have been increased, with the Audit Committee chair now receiving $25,000, the Compensation Committee chair $20,000, and the Governance and Nominations Committee chair $12,500. Committee members will also see increases in their retainers.
These compensation adjustments were made following a performance evaluation of the executives, considering the achievement of the company’s 2024 corporate goals and milestones. The changes are effective as of January 1, 2025, and the cash bonuses are scheduled to be paid in early March 2025. This information is based on a press release statement filed with the SEC.
In other recent news, ADMA Biologics has reported significant developments that are drawing investor attention. Mizuho (NYSE:MFG) Securities has upgraded its price target for ADMA Biologics to $28, up from $24, while maintaining an Outperform rating. This adjustment is attributed to the strong performance of its products ASCENIV and BIVIGAM, which have shown continued momentum and profitability. Revenue projections for the company have been increased to over $415 million for 2024 and $465 million for 2025, with expectations of an operating margin of at least 40% by 2025. In addition, ADMA Biologics announced changes to its Board of Directors, including the appointment of Young T. Kwon, PhD, as the new Chairman of the Audit Committee. Eduardo Rene Salas has also joined the Board as a Class I director, bringing extensive financial expertise to the role. These board changes reflect the company’s commitment to enhancing its corporate governance and strategic oversight. Mizuho’s analysis remains optimistic about ADMA Biologics, citing its potential for continued growth and profitability.
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