Michael E. Castagna

CEO of Mannkind

Education

PharmD from Albany College of Pharmacy

Field of Expertise

Healthcare & Life Sciences - Pharmaceuticals

Born

January 1, 1976 - 49 years ago

Economy Sector

Healthcare

Current Tenure

7 years 10 months (May 2017 - Present)

Previous Experience

Chief Commercial Officer at MannKind Corporation

Michael E. Castagna is the CEO of MannKind Corporation, a pharmaceutical company known for its innovative diabetes treatments. He became CEO in May 2017 after previously serving as the Chief Commercial Officer. With a PharmD from Albany College of Pharmacy and significant experience in the industry, he has worked with big names like Amgen and Bristol-Myers Squibb. Castagna stepped into leadership at MannKind during a pivotal time when the company was launching its flagship product, Afrezza.

Year

2023

Total Compensation

$9.59M

Salary

$701.55K

Board Justification

The compensation philosophy is to provide a competitive compensation package that aligns with the company's performance and market benchmarks, focusing on attracting and retaining qualified executives while promoting long-term stockholder value.

Bonus

$808.18K

Board Justification

The annual cash incentive awards under the STI plan are based on individual performance in the achievement of corporate objectives. Performance is compared to these objectives annually, with the company achieving 144% of its corporate goals for 2023.

Other

$21.84K

Board Justification

Includes employer contributions to the 401(k) plan and medical benefits.

Restricted Stock

$8.06M(1.71M RSU)

Board Justification

The stock awards that vested in 2023 were primarily from restricted stock units, which are tied to the company's performance and vesting schedules.

Performance Metrics

The performance metrics for 2023 included total revenue, total shareholder return, and specific operational goals related to production and business development.

Matthew J. Pfeffer

Ex-CEO of Mannkind

January 2016 - May 2017