XML 50 R2.htm IDEA: XBRL DOCUMENT v3.25.1
Pay vs Performance Disclosure - USD ($)
8 Months Ended 10 Months Ended 12 Months Ended 42 Months Ended
Feb. 20, 2024
Dec. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Jun. 23, 2023
Pay vs Performance Disclosure                
Pay vs Performance Disclosure, Table    
Fiscal Year
Summary
Compensation
Table Total
for PEO
(Miller)
($)(1)
Summary
Compensation
Table Total
for PEO (Papa)
($)(1)
Compensation
Actually Paid
to PEO
(Miller)
($)(1)(2)
Compensation
Actually Paid
to PEO (Papa)
($)(1)(2)
Average
Summary
Compensation
Table Total
for Non-PEO
NEOs
($)(3)
Average
Compensation
Actually Paid
to Non-PEO
NEOs
($)(2)(3)
Value of Initial Fixed $100
Investment Based on
Net Income
(Loss) (in millions)
($)(5)
Total
Revenues (in millions)
($)(5)
Total
Shareholder
Return
($)
Peer Group
Total
Shareholder
Return
($)(4)
2024218,750 5,862,562 218,750 19,531,513 1,788,883 2,945,103 17.72 147.24 (190.6)1,043.6 
2023766,667 5,103,858 766,667 393,077 1,813,193 462,669 4.45 146.27 (760.5)1,049.3 
2022— 7,578,573 — 508,270 3,393,116 951,561 21.89 140.85 (211.6)1,117.5 
2021— 6,932,076 — 532,388 2,469,172 192,682 80.57 121.8 219.5 1,773.6 
2020— 5,569,978 — 10,223,966 2,457,336 5,035,083 166.08 108.63 305.8 1,577.3 
         
Company Selected Measure Name     Total Revenues          
Named Executive Officers, Footnote     Mr. Kramer was our principal executive officer (PEO) for each of 2020, 2021, 2022 and until June 24, 2023. Mr. Miller was the Company’s Interim CEO from June 24, 2023 until February 21, 2024. Mr. Papa is the Company’s current CEO starting February 21, 2024.The non-PEO NEOs for 2024 are Mr. Lindahl, Ms. Glessner, Mr. Williams, Mr. Hartzel and Ms. Fox, our former EVP, General Counsel, Legal Affairs and Corporate Secretary. The 2023 non-PEO NEOs are Mr. Lindahl, Mr. Havey, our former Chief Operating Officer, Ms. Fox, Ms. Glessner and Mr. Williams. For 2022, the non-PEO NEOS were Mr. Lindahl, Mr. Havey, Ms. Fox and Mr. Saran, our former Chief Strategy and Development Officer, and for each of 2021 and 2020 the non-PEO NEOs were Mr. El-Hibri, Mr. Lindahl, Mr. Havey and Mr. Saran. Supplemental tables reconciling compensation reported in our summary compensation table to CAP for the average of our non-PEO NEOs is provided below.          
Peer Group Issuers, Footnote     Peer Group reflects published data for the S&P 500 Biotechnology Index.          
Adjustment To PEO Compensation, Footnote    
PEO SCT to CAP Reconciliation
Fiscal
Year
Reported Summary
Compensation Table Total for
PEO (Miller)
($)
Reported Summary
Compensation Table Total for
PEO (Papa)
($)
Reported Value
of Equity Awards
in the Summary Compensation Table(1)
($)
Equity Award Adjustments(1)
($)
Compensation
Actually Paid to PEO (Miller)
($)
Compensation
Actually Paid to PEO
($)
     
2024218,750 5,862,562 (2,489,050)16,158,000 218,750 19,531,513 
2023766,667 5,103,858 (3,398,039)(1,312,741)766,667 393,077 
2022N/A7,578,573 (6,231,882)(838,421)N/A508,270 
2021N/A6,932,076 (4,998,767)(1,400,921)N/A532,388 
2020N/A5,569,978 (3,442,423)8,096,411 N/A10,223,966 
1.Mr. Miller was not eligible to receive equity in his role as Interim CEO and did not receive equity awards from the Company prior to his service as Interim CEO. Accordingly, the equity award columns apply only to Mr. Papa in 2024 and Mr. Kramer for years 2020 through 2023.
PEO Equity Award Adjustment Reconciliation(1)  
Fiscal
Year
Year-End Fair Value of Awards Granted During Year That Remain Unvested as of Year End
($)
Year-over-Year Change in Fair Value of Outstanding and Unvested Equity Awards
($)
Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Covered Year
($)
Year-over-Year Change in Fair Value of
Equity Awards Granted in Prior Years that 
Vested in the Covered Year
($)
Year-end Fair Value of Equity Awards that Failed to Meet Vesting Conditions
in the
Covered Year
($)
Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation
($)
Total Equity
Award
Adjustments
($)
        
202416,158,000 — — — — — 16,158,000 
2023— — — 80,295 (1,393,036)— (1,312,741)
20221,391,610 (1,603,115)— (626,916)— — (838,421)
20211,869,759 (3,301,247)— 30,567 — — (1,400,921)
20205,854,355 1,898,642 — 343,414 — — 8,096,411 
1.Mr. Miller was not eligible to receive equity in his role as Interim CEO. Accordingly, this table applies only to Mr. Kramer for years 2020 through 2023 and Mr. Papa for 2024.
         
Non-PEO NEO Average Total Compensation Amount     $ 1,788,883 $ 1,813,193 $ 3,393,116 $ 2,469,172 $ 2,457,336  
Non-PEO NEO Average Compensation Actually Paid Amount     $ 2,945,103 462,669 951,561 192,682 5,035,083  
Adjustment to Non-PEO NEO Compensation Footnote    
Average non-PEO NEO SCT to CAP Reconciliation
Fiscal Year
Average Reported Summary Compensation Table Total for
non-PEO NEOs
($)
Average Reported Value of Equity Awards in the Summary Compensation Table
($)
Total
Average Equity
Award Adjustments
($)
Average Compensation Actually Paid to
non-PEO NEOs
($)
     
20241,788,883 (269,975)1,426,196 2,945,103 
20231,813,193 (881,054)(469,470)462,669 
20223,393,116 (2,640,104)198,549 951,561 
20212,469,172 (1,539,799)(736,691)192,682 
20202,457,336 (1,406,360)3,984,107 5,035,083 
Average non-PEO NEO Equity Award Adjustment Reconciliation
Fiscal Year
Average Year-End Fair Value of Awards Granted During Year That Remain Unvested as of Year End
($)
Year-over-Year
Average Change
in Fair Value of
Outstanding
and Unvested
Equity Awards
($)
Average Fair
Value as of
Vesting Date
of Equity
Awards
Granted and
Vested in the
Covered Year
($)
Year-over-Year Average Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Covered Year
($)
Average Year-End Fair Value of Equity Awards that Failed to
Meet Vesting Conditions
 in the Covered Year
($)
Average Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation
($)
Total Average
Equity Award
Adjustments
($)
2024894,360 333,544 — 198,291 — — 1,416,195 
2023147,810 (604,648)— (12,632)— — (469,470)
2022764,901 (389,222)— (177,130)— — 198,549 
2021575,964 (1,417,932)— 105,276 — — (736,691)
20202,391,709 1,136,285 — 456,113 — — 3,984,107 
         
Compensation Actually Paid vs. Total Shareholder Return    
(1) Relationship between compensation “actually paid” to each PEO and average actual compensation paid to the Company’s non-PEO NEOs and the Company’s cumulative total shareholder return (“TSR”) and comparison of company TSR and peer group TSR. PEO CAP applies to Mr. Kramer for years 2020 through 2023 and Mr. Papa for 2024.
3298535028155
         
Compensation Actually Paid vs. Net Income    
(2) Relationship between compensation “actually paid” to each PEO and average actual compensation paid to the Company’s non-PEO NEOs and the Company’s net income (loss). PEO CAP applies to Mr. Kramer for years 2020 through 2023 and Mr. Papa for 2024.
2199023401804
         
Compensation Actually Paid vs. Company Selected Measure    
(3) Relationship between compensation “actually paid” to each PEO and average actual compensation paid to non-PEO NEOs and Total Revenues. PEO CAP applies to Mr. Kramer for years 2020 through 2023 and Mr. Papa for 2024.
2199023401825
         
Total Shareholder Return Vs Peer Group    
(1) Relationship between compensation “actually paid” to each PEO and average actual compensation paid to the Company’s non-PEO NEOs and the Company’s cumulative total shareholder return (“TSR”) and comparison of company TSR and peer group TSR. PEO CAP applies to Mr. Kramer for years 2020 through 2023 and Mr. Papa for 2024.
3298535028155
         
Tabular List, Table    
Measure 1
Total Revenues (Company Selected Measure)
Measure 2Adjusted EBITDA Margin
Measure 3Adjusted Net Income (Loss)
         
Total Shareholder Return Amount     $ 17.72 4.45 21.89 80.57 166.08  
Peer Group Total Shareholder Return Amount     147.24 146.27 140.85 121.8 108.63  
Net Income (Loss)     $ (190,600,000) $ (760,500,000) $ (211,600,000) $ 219,500,000 $ 305,800,000  
Company Selected Measure Amount     1,043,600,000 1,049,300,000 1,117,500,000 1,773,600,000 1,577,300,000  
PEO Name Mr. Miller Mr. Papa           Mr. Kramer
Additional 402(v) Disclosure     The dollar amounts reported in the “Compensation Actually Paid to PEO” column, the “Compensation Actually paid to CEO (Miller)” column and the “Average Compensation Actually Paid to Non-PEO Named Executive Officers” column represent the amount of “compensation actually paid” (“CAP”) to each of our PEOs and the “average compensation actually paid” to our non-PEO NEOs, respectively, as computed in accordance with Item 402(v) of Regulation S-K. While SEC rules require us to disclose these amounts, they do not correlate to actual amounts that will or may be paid to our NEOs. The actual amounts that will or may be paid to each NEO will be determined following the completion of the applicable service and/or performance period based upon the actual achievement over such service and/or performance period. Supplemental tables reconciling compensation reported in our summary compensation table to CAP for our PEOs is provided below. Net income (loss) and Total Revenues for each year shown, as disclosed in the Company’s annual report on Form 10-K for the corresponding year. Total Revenues is our “Company-Selected Measure” as set forth in Regulation S-K 402(v). Note that the restatement identified in the Company’s Form 10-K/A filed on December 11, 2023 did not require a recovery in connection with the Company’s Executive Compensation Recovery Policy.          
Measure:: 1                
Pay vs Performance Disclosure                
Name     Total Revenues (Company Selected Measure)          
Measure:: 2                
Pay vs Performance Disclosure                
Name     Adjusted EBITDA Margin          
Measure:: 3                
Pay vs Performance Disclosure                
Name     Adjusted Net Income (Loss)          
Miller [Member]                
Pay vs Performance Disclosure                
PEO Total Compensation Amount     $ 218,750 $ 766,667        
PEO Actually Paid Compensation Amount     218,750 766,667        
Papa [Member]                
Pay vs Performance Disclosure                
PEO Total Compensation Amount     5,862,562 5,103,858 $ 7,578,573 $ 6,932,076 $ 5,569,978  
PEO Actually Paid Compensation Amount     19,531,513 393,077 508,270 532,388 10,223,966  
PEO [Member] | Equity Awards Adjustments                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount     16,158,000 (1,312,741) (838,421) (1,400,921) 8,096,411  
PEO [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount     (2,489,050) (3,398,039) (6,231,882) (4,998,767) (3,442,423)  
Non-PEO NEO [Member] | Equity Awards Adjustments                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount     1,426,196 (469,470) 198,549 (736,691) 3,984,107  
Non-PEO NEO [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount     (269,975) (881,054) (2,640,104) (1,539,799) (1,406,360)  
Equity Awards Adjustments | PEO [Member]                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount     16,158,000 (1,312,741) (838,421) (1,400,921) 8,096,411  
Equity Awards Adjustments | Non-PEO NEO [Member]                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount     1,416,195 (469,470) 198,549 (736,691) 3,984,107  
Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested | PEO [Member]                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount     16,158,000 0 1,391,610 1,869,759 5,854,355  
Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested | Non-PEO NEO [Member]                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount     894,360 147,810 764,901 575,964 2,391,709  
Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested | PEO [Member]                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount     0 0 (1,603,115) (3,301,247) 1,898,642  
Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested | Non-PEO NEO [Member]                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount     333,544 (604,648) (389,222) (1,417,932) 1,136,285  
Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year | PEO [Member]                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount     0 0 0 0 0  
Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year | Non-PEO NEO [Member]                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount     0 0 0 0 0  
Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year | PEO [Member]                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount     0 80,295 (626,916) 30,567 343,414  
Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year | Non-PEO NEO [Member]                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount     198,291 (12,632) (177,130) 105,276 456,113  
Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year | PEO [Member]                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount     0 (1,393,036) 0 0 0  
Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year | Non-PEO NEO [Member]                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount     0 0 0 0 0  
Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year | PEO [Member]                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount     0 0 0 0 0  
Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year | Non-PEO NEO [Member]                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount     $ 0 $ 0 $ 0 $ 0 $ 0