ProKidney's top executive gains nearly threefold hike in 2025 compensation

Total compensation for ProKidney Corp. chief executive Dr. Bruce Culleton jumped nearly threefold during fiscal 2025 as the Winston-Salem biopharmaceutical manufacturer nears a potential breakthrough drug therapy.

ProKidney, located at 2000 Frontis Plaza, Suite 250, is a late clinical-stage cellular therapeutics company focused on patients experiencing advanced chronic kidney disease.

It is the only mainstream publicly traded company based in Winston-Salem.

The company has expanded from 80 to more than 200 employees over the past four years.

During 2025, Culleton received a 10% raise in base salary to $687,738, along with a 27.5% increase in incentive pay to $478,080.

Culleton was made eligible for stock-options awards valued at $1.77 million on the date they were awarded. Total compensation was $2.96 million, compared with $1.01 million in fiscal 2024.

The company said its executive compensation is designed to align senior management's interests with ProKidney's equity owners' long-term interests through equity participation and ownership.

Todd Girolamo, chief legal officer, received a 9.8% raise in base salary to $466,153, along with a 24.3% jump in incentive pay to $243,000 and total compensation of $1.37 million, up 8.4%.

James Coulston, chief financial officer, received a 10.9% raise in base salary to $466,923, along with a 26% jump in incentive pay to $243,000 and total compensation of $1.37 million, a gain of 43.9%.

ProKidney's fiscal 2025 loss was just under $67 million, compared with a loss of $61.2 million in 2024 and a loss of $35.5 million in 2023.

ProKidney listed $893,000 in revenue during fiscal 2025, compared with $76,000 in 2024 revenue. Meanwhile, operating expenses were $165 million, compared with $183.7 million in 2024.

The company will hold a virtual shareholder meeting at 10 a.m. May 28. There are no shareholder proposals on the agenda.

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