Updated April 2026 · SEC DEF 14A data
Amgen vs Moderna, CEO Pay Comparison
Robert Bradway, Amgen's CEO, earns $2.3M more in reported total compensation than Stephane Bancel at Moderna, based on the most recent SEC DEF 14A proxy filings. Amgen earns a Pay-for-Performance Grade of B; Moderna earns a A.
Robert Bradway at Amgen ($12.0M) and Stephane Bancel at Moderna ($9.7M) are close on total compensation. With pay close, the more interesting comparison is on performance: TSR ran 8.3% versus 584.1% over the three-year window.
CEO compensation comparisons require peer-group context. Compensation committees explicitly select peer groups for setting CEO pay; two companies may use different peer groups even when they appear in similar industries. The full per-company pages surface the disclosed peer-group context.
Side-by-Side Comparison
| Metric | AmgenAMGN | ModernaMRNA |
|---|---|---|
| CEO | Robert Bradway | Stephane Bancel |
| Industry | Biotechnology | Biotechnology |
| Total Compensation | $12.0M | $9.7M |
| Base Salary | $1.2M | $966K |
| Stock Awards | $6.0M | $4.8M |
| Option Awards | $1.4M | $1.2M |
| Non-Equity Incentive | $1.8M | $1.4M |
| Pay-for-Performance Grade | B (70/100) | A (96/100) |
| CEO-Worker Pay Ratio | 96:1 | 77:1 |
| Median Worker Pay | $125K | $125K |
| Say-on-Pay Approval | 95.8% | 85.6% |
| 3yr Total Shareholder Return | +8.3% | +584.1% |
| Revenue | $28.2B | $6.7B |
| Market Cap | $160.0B | $35.0B |
| Employees | 27,000 | 5,700 |
Reading the Comparison
Robert Bradway (Amgen) earns $2.3M more than Stephane Bancel (Moderna) — a modest gap typical of CEOs running roughly comparable companies in the same sector tier.
On Pay-for-Performance Grade, Moderna is markedly better aligned: 96/100 (A) versus Amgen's 70/100 (B). The gap of 26 composite points typically reflects multiple factors moving in the same direction — relative TSR, say-on-pay, and revenue-versus-compensation growth all favoring one side.
CEO-to-worker pay ratios are similar: 96:1 at Amgen versus 77:1 at Moderna. Both companies have median worker pay structures that produce comparable Item 402(u) ratios. Amgen's pay package received 95.8% shareholder approval, ahead of Moderna's 85.6%. Both votes are above the 70% scrutiny threshold but the 10.1-point gap indicates somewhat different shareholder views on pay structure.
How These Numbers Are Sourced
Every metric in the comparison table comes from a primary public source. Total compensation, salary, stock awards, option awards, and non-equity incentive figures come from the Summary Compensation Table of each company's most recent DEF 14A — the table the SEC requires every U.S. public company to file annually under Regulation S-K Item 402. CEO-to-worker pay ratio comes from the Item 402(u) disclosure required since 2018. Say-on-pay vote share comes from the 8-K filed within four business days of each annual meeting. 3-year total shareholder return is computed from split-adjusted, dividend-reinvested price data over the most recent 36 months.
The Pay-for-Performance Grade is the four-factor composite documented at methodology: relative TSR (35%), revenue versus compensation growth (25%), say-on-pay vote (25%), and pay ratio versus peers (15%). Authoritative governance frameworks come from Institutional Shareholder Services (ISS) and Glass Lewis. Underlying SEC filings for both Amgen and Moderna are available on the EDGAR system.
Frequently Asked Questions
How much do the CEOs of Amgen and Moderna earn?
Robert Bradway, CEO of Amgen, earned $12.0M in reported total compensation in the most recently disclosed fiscal year. Stephane Bancel at Moderna earned $9.7M. Both figures come from the Summary Compensation Table inside each company's most recent DEF 14A proxy statement.
Which company has better Pay-for-Performance alignment?
On Pay-for-Performance Grade, Moderna is markedly better aligned: 96/100 (A) versus Amgen's 70/100 (B). The gap of 26 composite points typically reflects multiple factors moving in the same direction — relative TSR, say-on-pay, and revenue-versus-compensation growth all favoring one side. The grade is computed from a four-factor composite: 3-year relative TSR (35%), revenue versus compensation growth (25%), say-on-pay vote (25%), and CEO-to-worker pay ratio versus peers (15%).
How do CEO-to-worker pay ratios compare?
Amgen reports a CEO-to-median-worker pay ratio of 96:1 on its most recent Item 402(u) disclosure; Moderna reports 77:1. CEO-to-worker pay ratios are similar: 96:1 at Amgen versus 77:1 at Moderna. Both companies have median worker pay structures that produce comparable Item 402(u) ratios.
Did shareholders approve each pay package?
Amgen's pay package received 95.8% shareholder approval, ahead of Moderna's 85.6%. Both votes are above the 70% scrutiny threshold but the 10.1-point gap indicates somewhat different shareholder views on pay structure. Say-on-pay is an advisory vote required by Section 951 of the Dodd-Frank Act and conducted at each annual shareholder meeting.
Where does this comparison data come from?
Every figure on this page is sourced from public SEC filings: the DEF 14A proxy statement for compensation under Regulation S-K Item 402, the same proxy's Item 402(u) disclosure for pay ratio, the 8-K filed within four business days of each annual meeting for say-on-pay vote share, and the 10-K for revenue, market cap, and employee count. All filings are available on the SEC EDGAR system at https://www.sec.gov/edgar.shtml.
Amgen CEO Pay Details
Full compensation breakdown, history, and peer comparison
Moderna CEO Pay Details
Full compensation breakdown, history, and peer comparison
Source: U.S. Securities and Exchange Commission, DEF 14A and 8-K filings via EDGAR. Public domain.
Last updated 2026-04-06 · comparing Amgen (AMGN) and Moderna (MRNA).