Pay vs Performance Disclosure - USD ($)

12 Months Ended

Dec. 31, 2025

Dec. 31, 2024

Dec. 31, 2023

The following table sets forth information concerning the compensation of our PEO and

non-PEO

NEOs for the fiscal years ended December 31, 2025, 2024 and 2023, and our financial performance for each such fiscal year:


											Value of Initial $100 Fixed Investment Based on (3)
Year	Summary Compens- ation Table Total for PEO ($)		Compensation Actually Paid to PEO ($) (1)(2)		Average Summary Compensation Table Total for non-PEO NEOs		Average Compensation Actually Paid to non-PEO NEOs (1)(2)		Total Shareholder Return ($)		Peer Group Total Sharehol-der Return ($)		Net Income (in thousands) ($)		Net Product Revenue (in thousands) ($)
2025		8,177,496		10,022,355		3,471,813		3,946,293		699		176		214,326		588,807
2024		7,774,160		12,896,544		3,723,348		5,024,539		557		88		163,889		489,327
2023		2,146,499		1,007,034		2,256,711		1,952,842		448		54		71,410		396,502

(1)	Amounts represent compensation actually paid (“CAP”) to our PEO and the average compensation actually paid to our non-PEO NEOs for the relevant fiscal year, as determined under SEC rules (and described below).

(2)

Fair value or change in fair value, as applicable, of stock options in the “Compensation Actually Paid” columns was estimated using a Black-Scholes option pricing model for the purposes of this disclosure in accordance with SEC rules and do not reflect compensation actually earned, realized or received during each applicable year. The calculation of CAP for purposes of this table includes

point-in-time

fair values of equity awards and those values will fluctuate based on our stock price and various accounting valuation assumptions. See the Summary Compensation Table for certain other compensation of our PEO and our

non-PEO

NEOs for each applicable fiscal year.

(3)

For the relevant fiscal year, represents our cumulative TSR or the cumulative TSR of the Nasdaq Biotechnology Index, in each case assuming an initial investment of $100 as described under the Narrative Disclosure to Pay Versus Performance heading below. We have never declared or paid a dividend on our common stock and do not anticipate doing so in the foreseeable future.

In the table immediately above, the columns “Compensation Actually Paid to PEO” and “Average Compensation Actually Paid to

non-PEO

NEOs” reflect the Total Compensation reported in the 2025 Summary Compensation Table (“SCT”), as adjusted based on the following:


	SCT Total ($)		Minus SCT Equity Awards ($)		Plus Value of New Unvested Awards as of 12/31 ($)		Plus Annual Change in Value of Prior Year Awards that Remain Unvested ($)			Plus Value of Awards Vested and Granted During Year ($)		Plus Change in Value of Prior Year Awards that Vest During Year ($)			Total CAP ($)
PEO
2025		8,177,496		6,562,685		7,301,200		1,573,761			—		(467,417	)		10,022,355
2024		7,774,160		6,338,431		6,922,548		4,488,419			—		49,848			12,896,544
2023		2,146,499		749,999		943,365		(736,903	)		—		(595,928	)		1,007,034
Average Non-PEO NEOs
2025		3,471,813		2,603,498		2,800,296		197,829			—		79,853			3,946,293
2024		3,723,348		2,838,396		3,237,565		572,615			—		329,407			5,024,539
2023		2,256,711		1,446,560		1,819,515		(326,149	)		—		(350,675	)		1,952,842

The following tables illustrate the valuation assumptions as of the vesting date for awards that vested in each of 2025, 2024 and 2023.


	For Stock Options Vesting in
	2025	2024	2023
Risk-free interest rate	3.66% – 4.33 %	3.85% – 4.52%	3.75% – 4.65%
Expected term	0.4 – 4.8 years	1.6 – 5.0 years	4.5 years
Expected volatility	49.9% – 52.5%	54.1% – 60.4%	68.0% – 71.0%
Expected dividend yield	—	—	—
Expected forfeiture rate	—	—	—


	Weighted Average Fair Value of Full Value Awards Vesting in
	2025		2024		2023
For Restricted Stock Units	$	14.87	$	11.19	$	11.25

Company Selected Measure Name

Net Product Revenue

Named Executive Officers, Footnote

The Company’s principal executive officer (“PEO”) and our

non-PEO

named executive officers (“NEOs”) were as follows for the fiscal years ended December 31, 2025, 2024 and 2023:


Year	PEO	Non-PEO NEOs

2025	Richard J. Daly	Michael W. Kalb, Steven R. Miller, Jeffrey Del Carmen, William T. Andrews

2024	Richard J. Daly	Michael W. Kalb, Steven R. Miller, Jeffrey Del Carmen, Preethi Sundaram

2023	Patrick J. McEnany	Alicia Grande, Steven R. Miller, Gary Ingenito, Jeffrey Del Carmen

Peer Group Issuers, Footnote

PEO Total Compensation Amount

$ 8,177,496

$ 7,774,160

$ 2,146,499

PEO Actually Paid Compensation Amount

$ 10,022,355

12,896,544

1,007,034

Adjustment To PEO Compensation, Footnote

In the table immediately above, the columns “Compensation Actually Paid to PEO” and “Average Compensation Actually Paid to

non-PEO

NEOs” reflect the Total Compensation reported in the 2025 Summary Compensation Table (“SCT”), as adjusted based on the following:


	SCT Total ($)		Minus SCT Equity Awards ($)		Plus Value of New Unvested Awards as of 12/31 ($)		Plus Annual Change in Value of Prior Year Awards that Remain Unvested ($)			Plus Value of Awards Vested and Granted During Year ($)		Plus Change in Value of Prior Year Awards that Vest During Year ($)			Total CAP ($)
PEO
2025		8,177,496		6,562,685		7,301,200		1,573,761			—		(467,417	)		10,022,355
2024		7,774,160		6,338,431		6,922,548		4,488,419			—		49,848			12,896,544
2023		2,146,499		749,999		943,365		(736,903	)		—		(595,928	)		1,007,034
Average Non-PEO NEOs
2025		3,471,813		2,603,498		2,800,296		197,829			—		79,853			3,946,293
2024		3,723,348		2,838,396		3,237,565		572,615			—		329,407			5,024,539
2023		2,256,711		1,446,560		1,819,515		(326,149	)		—		(350,675	)		1,952,842

Non-PEO NEO Average Total Compensation Amount

$ 3,471,813

3,723,348

2,256,711

Non-PEO NEO Average Compensation Actually Paid Amount

$ 3,946,293

5,024,539

1,952,842

Adjustment to Non-PEO NEO Compensation Footnote

In the table immediately above, the columns “Compensation Actually Paid to PEO” and “Average Compensation Actually Paid to

non-PEO

NEOs” reflect the Total Compensation reported in the 2025 Summary Compensation Table (“SCT”), as adjusted based on the following:


	SCT Total ($)		Minus SCT Equity Awards ($)		Plus Value of New Unvested Awards as of 12/31 ($)		Plus Annual Change in Value of Prior Year Awards that Remain Unvested ($)			Plus Value of Awards Vested and Granted During Year ($)		Plus Change in Value of Prior Year Awards that Vest During Year ($)			Total CAP ($)
PEO
2025		8,177,496		6,562,685		7,301,200		1,573,761			—		(467,417	)		10,022,355
2024		7,774,160		6,338,431		6,922,548		4,488,419			—		49,848			12,896,544
2023		2,146,499		749,999		943,365		(736,903	)		—		(595,928	)		1,007,034
Average Non-PEO NEOs
2025		3,471,813		2,603,498		2,800,296		197,829			—		79,853			3,946,293
2024		3,723,348		2,838,396		3,237,565		572,615			—		329,407			5,024,539
2023		2,256,711		1,446,560		1,819,515		(326,149	)		—		(350,675	)		1,952,842

Compensation Actually Paid vs. Total Shareholder Return

Compensation Actually Paid vs. Net Income

Compensation Actually Paid vs. Company Selected Measure

Total Shareholder Return Vs Peer Group

Tabular List, Table

2025 Performance Measures

The following list represents the financial and

non-financial

performance measures that we consider to have been the most important in linking Compensation Actually Paid to our PEO and

non-PEO

NEOs to company performance. The measures in this list are not ranked. Of these measures, we have identified Net Product Revenue as our most important of our financial performance measures used to link Compensation Actually Paid to our PEO and

non-PEO

NEOs to company performance:

Net Product Revenue

Net Income

Completion of a transformational acquisition

Quality and Compliance

Total Shareholder Return Amount

$ 699

557

448

Peer Group Total Shareholder Return Amount

176

CATALYST PHARMACEUTICALS, INC. 10-K/A