Greg Pyszczymuka
AYTU BIOPHARMAAbout Greg Pyszczymuka
Greg Pyszczymuka is Chief Commercial Officer (CCO) of Aytu BioPharma, serving in the role since January 2022; he joined Aytu at the closing of its merger with Neos Therapeutics in March 2021 after holding multiple senior commercial roles at Neos (VP, Commercial; VP, Commercial Strategy & Market Access) . He holds a B.S. from Rutgers University and an M.B.A. from Argosy University; age 46 in 2025 per Aytu’s proxy named executive officer table . Company performance context over his tenure: FY 2023–FY 2025 revenues were $73.8M, $65.2M, and $66.4M, while EBITDA improved from $2.49M to $7.91M; see table below (EBITDA from S&P Global) .
Past Roles
| Organization | Role | Years | Strategic impact / scope |
|---|---|---|---|
| Neos Therapeutics | VP, Commercial | Jun 2020 – Mar 2021 | Led commercial execution ahead of Aytu merger . |
| Neos Therapeutics | VP, Commercial Strategy & Market Access | Nov 2018 – Jun 2020 | Drove market access and commercial strategy across portfolio . |
| Aqua Pharmaceuticals (Almirall), Iroko, Zogenix, Endo | Various commercial leadership roles | Not disclosed | Broad experience in sales, marketing, channel strategy, managed markets, and new product planning . |
External Roles
| Organization | Role | Start | Committees / Notes |
|---|---|---|---|
| Evoke Pharma (EVOK) | Director (Class I) | Feb 20, 2025 | Appointed to Compensation Committee (member) and Nominating & Corporate Governance (member); option grant 5,833 shares vesting annually over 3 years . |
Fixed Compensation
| Metric | FY 2024 | FY 2025 |
|---|---|---|
| Base salary | $389,423 | $401,403 |
| Target bonus % | Not disclosed | Not disclosed |
| Actual cash/non‑equity bonus paid | $115,875 | $112,176 (portion paid in cash; some executives elected stock, Greg not listed among those electing stock) . |
| Option awards (grant‑date fair value) | $11,003 | $8,497 |
| Total compensation | $516,301 | $522,076 |
Performance Compensation
| Metric category | Weighting | Target | Actual | Payout | Notes |
|---|---|---|---|---|---|
| Commercial & financial goals (ADHD & Pediatric portfolios), liquidity, operational/cost improvements (incl. Consumer Health wind‑down, Grand Prairie exit), compliance & HR goals (FY2024) | Not disclosed | Not disclosed | Committee determined achievements merited payout | 80% of eligible bonus (FY2024) | Company cited strategic goals to increase enterprise and stockholder value . |
| Same categories updated for FY2025 | Not disclosed | Not disclosed | Committee determined achievements merited payout | 75% of eligible bonus (FY2025) | CEO/CFO/CBO elected partial bonus in stock; program remains discretionary . |
Equity Awards (structure, vesting, and potential selling pressure)
| Grant date | Type | Shares / Options | Exercise price | Vesting schedule | Expiration | Source |
|---|---|---|---|---|---|---|
| Oct 3, 2025 | Restricted Stock | 12,500 shares | — | 1/3 vests 10/3/2026; remaining 2/3 in 8 equal quarterly installments beginning 1/3/2027 | — | |
| Nov 6, 2024 | Stock Options | 7,000 options | $1.84 | Vests over 3 years: 1/3 at first anniversary (11/6/2025), remainder monthly thereafter (service‑based) | 11/6/2034 | |
| Oct 1, 2032 (outstanding) | Stock Options | 6,249 ex / 782 unex | $4.00 | Service‑based vesting (legacy) | 10/1/2032 | |
| Aug 11, 2033 (outstanding) | Stock Options | 4,264 ex / 2,736 unex | $1.73 | Service‑based vesting (legacy) | 8/11/2033 |
- Implication: The 12,500 RS grant creates a vesting over 2026–2028 that can translate to incremental stock supply as tranches vest; options carry mixed strike prices ($1.73, $1.84, $4.00), influencing exercise economics and potential selling after exercise .
Equity Ownership & Alignment
| Date | Total beneficial ownership | Breakdown | % of shares outstanding | Pledging/Hedging | Source |
|---|---|---|---|---|---|
| Mar 24, 2025 | 33,725 shares | 23,393 common; 209 RSUs vesting within 60 days; 10,123 vested options | <1% (asterisked) | Company prohibits hedging, holding on margin, and pledging for all Section 16 officers; Company states all are in compliance | |
| Oct 13, 2025 | 51,075 shares | 23,602 common; 12,500 unvested restricted stock; 14,973 vested options | <1% (asterisked) | Same prohibition and compliance as above |
- Insider transactions highlights: Award of 12,500 restricted shares on 10/3/2025 as part of annual equity program . Historical Form 4s show routine option exercises and one open‑market purchase of 12,000 shares on 6/16/2023 (price $1.869) .
Employment Terms
| Term | Details |
|---|---|
| Role and agreement | Amended & Restated Employment Agreement effective March 21, 2023; CCO since January 2022 . |
| Severance (without Cause / Good Reason) | Lump‑sum equal to 1x base salary; immediate vesting of all stock‑based awards; Company‑paid COBRA up to 12 months; pro‑rata portion of target bonus for the year of termination . |
| Change‑in‑Control (termination within 12 months; double‑trigger) | Immediate vesting of all equity; Company‑paid COBRA up to 12 months; cash payment equal to 1x base salary and pro‑rata portion of target bonus for year of termination . |
| Definitions | “Cause” and “Good Reason” definitions specified (e.g., willful malfeasance/misconduct; material reductions; relocation beyond defined threshold) . |
| Clawback | Dodd‑Frank compliant clawback policy adopted Dec 1, 2023 covering incentive‑based compensation for three‑year lookback upon financial restatement . |
| Anti‑hedging/pledging | Section 16 officers prohibited from hedging, margin, pledging; Company states current compliance . |
Company Performance Context (during tenure)
| Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Revenues ($) | $73.80M | $65.18M | $66.38M |
| EBITDA ($) | $2.49M* | $7.29M* | $7.91M* |
Values retrieved from S&P Global.*
Compensation Program Structure and Governance
- Peer group and consultant: Compensation Committee uses Alvarez & Marsal Taxand (A&M) and a 15‑company peer set (e.g., Aquestive, Assertio, Avadel, Esperion, Eton, G1, Heron, Iterum, Journey, Karyopharm, OptiNose, SCYNEXIS, VYNE, Zevra) to calibrate pay levels and mix .
- Equity program shift: FY2024 annual equity was in options (e.g., 7,000 options to Greg in Nov 2024) while October 2025 grants shifted to restricted stock (12,500 shares to Greg) with three‑year vesting—lower‑risk equity relative to options (potentially signaling retention emphasis) .
- Say‑on‑pay support: At the June 26, 2024 annual meeting, say‑on‑pay received 1,978,765 “For”, 659,394 “Against”, 69,978 “Abstain” (broker non‑votes 1,329,025) .
Expertise & Qualifications
- 20+ years in commercial functions across pharma: sales, marketing, channel strategy, commercial operations, managed markets, market access, new product planning .
- Education: B.S. Rutgers University; M.B.A. Argosy University .
- External board experience: Evoke Pharma director with committee roles since 2025 .
Investment Implications
- Pay–performance alignment: Cash bonuses paid at 80% (FY2024) and 75% (FY2025) of targets against multi‑faceted operational and financial goals; equity is now a mix of options and time‑vested RS—recent shift to RS suggests a stronger retention/line‑of‑sight component in incentive design .
- Retention and potential selling pressure: The October 2025 grant vests 1/3 in Oct 2026 with quarterly vesting thereafter through 2028; coupled with legacy options (mix of $1.73, $1.84 and $4.00 strikes), monitor post‑vesting/exercise activity for selling pressure signals .
- Alignment/skin‑in‑the‑game: Beneficial ownership remains <1% (51,075 shares as of Oct 2025), indicating modest direct alignment by share count; anti‑hedging/pledging and clawback policies reduce governance risk .
- Contract risk: Severance is moderate (1x salary plus immediate vesting and benefits), with double‑trigger CoC protection (also 1x salary) that could incentivize continuity through strategic events but is not excessively dilutive .
- Execution watch‑items: Revenue stabilized in FY2025 and EBITDA expanded vs FY2023; sustained commercial execution in ADHD and pediatrics and liquidity/cost goals are central to incentive outcomes and investor confidence .