Lantheus Holdings, Inc DEF 14A, filed Mar 20, 2026

Lantheus Holdings, Inc. (LNTH)

DEF 14A 2026-03-20 For: 2026-04-30

View Original

Added on June 12, 2026

About this DEF 14A

Lantheus Holdings, Inc filed this DEF 14A on March 20, 2026.

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →


				Items of Business 1. The election of four Class II directors to our Board of Directors. 2. The approval, on an advisory basis, of the compensation paid to our named executive officers (commonly referred to as “say on pay”). 3. The approval, on an advisory basis, of the frequency of holding an advisory vote on the compensation paid to our named executive officers. 4. The approval of an amendment to our Amended and Restated Certificate of Incorporation to declassify our Board of Directors. 5. The approval of the Lantheus Holdings, Inc. Amended and Restated 2026 Equity Incentive Plan. 6. The ratification of the appointment of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2026.
Your Vote is Important Make sure your shares of Common Stock are represented. If you hold your shares in your own name as a holder of record with our transfer agent, Computershare, you may authorize that your shares be voted at the Annual Meeting in one of the following ways: **If you hold your shares through a bank, broker or other nominee, please refer to instructions provided by your bank, broker or other nominee on how to submit your vote.				At the meeting, we will also transact any other business as may properly come before the meeting or any adjournment or postponement thereof. The Board of Directors recommends that you vote: • “FOR” each director nominee included in Proposal 1 • “FOR” each of Proposals 2, 4, 5 and 6 • “ONE YEAR” on Proposal 3 The full text of these proposals is set forth in the accompanying Proxy Statement. Registered shareholders of the Company as of the close of business on the record date are eligible to vote at the meeting. We recommend that you review the further information on the process for, and deadlines applicable to, voting, attending the Annual Meeting and appointing a proxy under the heading “Questions and Answers about the Annual Meeting” on page 84 of the Proxy Statement. By order of the Board of Directors, Daniel M. Niedzwiecki Chief Administrative Officer, General Counsel and Corporate Secretary March 20, 2026
Internet Go To www.proxypush.com/LNTH • Cast your vote online • Have your Proxy Card ready • Follow the simple instructions to record your vote
Telephone Call 1-866-240-5317 • Use any touch-tone telephone • Have your Proxy Card ready • Follow the simple recorded instructions
Mail • Mark, sign and date your proxy card • Fold and return your Proxy Card in the postage-paid envelope provided
QR Code • Select “Vote Now” • Have your Proxy Card ready • Follow the simple instructions to record your vote
The mailing of the Notice of Internet Availability of Proxy Materials to our shareholders is scheduled to begin on or about March 20, 2026.



MATTERS TO BE VOTED UPON			1

WHO WE ARE			1

CORPORATE GOVERNANCE			2
Corporate Governance Practices			2
Board Structure			3
Leadership Structure			3
Director Independence			3
Committees of the Board			3
Board and Committee Evaluations and Self-Assessments			7
Codes of Conduct			7
Risk Oversight			7
Operating Our Business Sustainably and Responsibly			8
Environmental			8
Safety			9
Inclusion, Culture and Community			9
Board Meetings			10
Director Attendance at Annual Meetings			11
Certain Relationships and Related Person Transactions			11

PROPOSAL 1: ELECTION OF CLASS II DIRECTORS			12
Majority Voting for Uncontested Elections of Directors			12
Vote Required and Board of Directors’ Recommendation			12
Board Composition			13
Board Diversity and Tenure			13
Qualifications and Experience of Directors			13
Director Nomination Process; Process for Shareholders to Recommend Director Nominees			17
Communication with the Board of Directors			17
Director Nominee Biographies			18

DIRECTOR COMPENSATION			27
Elements of Director Compensation			27
Director Compensation			28

BENEFICIAL OWNERSHIP			29
Beneficial Ownership of Directors and Executive Officers			29
Delinquent Section 16(a) Reports			31

PROPOSAL 2: ADVISORY VOTE TO APPROVE EXECUTIVE COMPENSATION			32
Vote Required and Board of Directors’ Recommendation			32

EXECUTIVE COMPENSATION			33
Compensation Discussion and Analysis			33
Summary Compensation Table for Fiscal Years 2025, 2024 and 2023			53
Grants of Plan-Based Awards for Fiscal 2025			55
Outstanding Equity Awards at December 31, 2025			56
Option Exercises and Stock Vested for Fiscal 2025			58
Nonqualified Deferred Compensation Plans			58
Employment Agreements; Severance and Potential Payments Upon Termination or Change of Control			59
Pay Ratio			61
Pay Versus Performance			63
Executive Officers and Executive Team			67

PROPOSAL 3: ADVISORY VOTE ON THE FREQUENCY OF HOLDING FUTURE “SAY ON PAY” VOTES			69
Vote Required and Board of Directors’ Recommendation			69

PROPOSAL 4: AMENDMENT TO LANTHEUS’ AMENDED AND RESTATED CERTIFICATE OF INCORPORATION TO DECLASSIFY OUR BOARD OF DIRECTORS			70
Vote Required and Board of Directors’ Recommendation			71

PROPOSAL 5: AMENDED AND RESTATED 2026 EQUITY INCENTIVE PLAN			72
Vote Required and Board of Directors’ Recommendation			80

PROPOSAL 6: RATIFICATION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM			81
Vote Required and Board of Directors’ Recommendation			81
Deloitte Fees			82
Audit Committee Pre-Approval Policies			82
Audit Committee Report			83

QUESTIONS AND ANSWERS ABOUT THE ANNUAL MEETING			84

ADDITIONAL INFORMATION			89
Procedures for Submitting Shareholder Proposals			89


Proposal⁽¹⁾	Required Approval	Board Recommendation	Page Reference

1. The election of four Class II directors to our Board of Directors. Ms. Minnie Baylor-Henry Mr. Heinz Mäusli Ms. Julie McHugh Dr. Phuong Khanh (P.K.) Morrow	A majority of the votes properly cast.	FOR each nominee	12

2. The approval, on an advisory basis, of the compensation paid to our named executive officers (commonly referred to as “say on pay”).	A majority of the votes properly cast.	FOR	32

3. The approval, on an advisory basis, of the frequency of holding future “say on pay” votes.	A plurality of the votes properly cast.	ONE YEAR	69

4. The approval of an amendment to our Amended and Restated Certificate of Incorporation to declassify our Board of Directors.	A majority of outstanding shares of our common stock (“Shares”) entitled to vote.	FOR	70

5. The approval of the Lantheus Holdings, Inc. Amended and Restated 2026 Equity Incentive Plan.	A majority of the votes properly cast.	FOR	72

6. The ratification of the appointment of Deloitte & Touche LLP (“Deloitte”) as our independent registered public accounting firm for the fiscal year ending December 31, 2026.	A majority of the votes properly cast.	FOR	81


Functional Area		Subject Matter Expertise	Meaningful Experience

	Director or Officer of Public Company An understanding of public company reporting responsibilities, investor relations, disclosure and other matters typically affecting public companies is important in navigating corporate governance issues appropriately.	Baylor-Henry Eastland Leno McHugh Mäusli Morrow	Heino Ber Pruden Thrall

	Director of Life Sciences or Healthcare Company Knowledge of the life sciences and healthcare industries ensures effective oversight of our business and the development and execution of our long-term strategy.	Baylor-Henry Ber Eastland Leno McHugh Pruden Thrall Morrow	Heino Mäusli

	C-Suite Leadership Experience in significant leadership positions (such as CEO, CFO, COO, CCO, CMO or similar positions) is valuable in overseeing our management’s performance. Directors with leadership experience also tend to demonstrate a practical understanding of organizations, strategy, risk management and corporate governance.	Heino Baylor-Henry Ber Eastland Leno McHugh Morrow Pruden Thrall	Mäusli

	Strategy Development and Strategic Planning Experience defining and driving strategic direction and growth are helpful in formulating, and overseeing effective execution of, our short- and long-term business strategies.	Heino Baylor-Henry Ber Eastland Leno Mäusli McHugh Morrow Pruden	Thrall

	Human Capital Management and Talent Development Experience in managing and developing people, their compensation, compliant inclusion and diversity efforts, and succession planning is important in order to attract, develop, motivate and retain high-quality our senior management team and employees.	Heino Baylor-Henry Ber Eastland Leno McHugh Morrow Pruden Thrall	Mäusli


Functional Area		Subject Matter Expertise	Meaningful Experience

	Corporate Finance and Capital Markets Experience in corporate finance and capital markets ensures Board oversight of our access to and effective management of capital and our capital structure.	Eastland Leno Mäusli Baylor-Henry	Heino McHugh Morrow Pruden Thrall

	M&A and Business Development Experience in mergers and acquisitions enables the Board to oversee our management team’s due diligence, financial analysis and forecasting, negotiation and closing of strategic transactions, successful integration of businesses and assets, and synergy capture.	Heino Baylor-Henry Leno Mäusli McHugh Pruden Morrow	Ber Eastland Thrall

	Accounting and Financial Reporting Experience in technical accounting and financial reporting provides strong oversight of our financial performance, reporting obligations and internal controls.	Eastland Leno Mäusli	Heino Baylor-Henry McHugh Morrow Pruden

	Sales and Marketing Experience in the sales and marketing of drugs and medical devices and an understanding of the reimbursement environment is key in overseeing our management team’s commercialization plans and execution.	Heino Baylor-Henry McHugh Pruden	Ber Morrow Thrall

	Manufacturing, Procurement and Supply Chain Management Experience in technical operations assists the Board in understanding the technology transfer, manufacturing, procurement and supply chain, vendor oversight and labor relations activities in which we are involved.	Heino Ber Leno McHugh Pruden	Baylor-Henry Eastland Mäusli Morrow Thrall

	Research and Clinical Development Scientific, medical and technological competencies allow the Board to provide input into, and oversight of, our research and clinical development and life cycle management activities.	Baylor-Henry Morrow Thrall	Heino Ber Eastland McHugh Pruden

	Legal, Regulatory, Compliance and Governmental Affairs Experience in understanding legal and regulatory obligations and risks, litigation and regulatory proceedings, and governmental and regulatory affairs facilitates the Board’s oversight of our compliance, compliance program, dispute resolution and governmental relations activities.	Baylor-Henry McHugh Morrow Pruden	Heino Eastland Leno Mäusli Thrall

	Risk Assessment and Management The scale, scope, and complexity of our business raises a multitude of evolving and interdependent risks. Experience in effectively identifying, prioritizing and managing a broad spectrum of risks can help the Board appreciate, anticipate and oversee our enterprise risk management efforts.	Heino Baylor-Henry Leno Morrow Thrall	Ber Eastland Mäusli McHugh Pruden


Audit Committee

Members Samuel Leno (Chair) Julie Eastland Heinz Mäusli Gary J. Pruden All Independent		The primary purpose of the Audit Committee is to assist our Board in overseeing: • the integrity of our financial statements; • our systems of internal control over financial reporting and disclosure controls and procedures; • our independent auditor’s qualifications, engagement, compensation and independence; • the performance of our independent auditors and our internal audit function; • our information technology systems, processes and data, including physical security and cybersecurity; and • our related person transaction policy. The Board has affirmatively determined that each of the current members of the Audit Committee meets the definition of “independent director” for the purposes of serving on the Audit Committee under the Securities and Exchange Commission (the “SEC”) and Nasdaq rules and has “financial sophistication” as defined under the Nasdaq rules. The Board has determined that Mr. Leno, Ms. Eastland and Mr. Mäusli each meets the definition of “Audit Committee Financial Expert,” as that term is defined by the SEC in Item 407(d)(5) of Regulation S-K. Pursuant to its charter, the Audit Committee may delegate its responsibilities to a subcommittee so long as that subcommittee is solely comprised of one or more members of the Audit Committee.


Nominating and Corporate Governance Committee

Members Julie McHugh (Chair) Minnie Baylor-Henry Heinz Mäusli Dr. James H. Thrall All Independent		The primary purpose of the Nominating and Corporate Governance Committee is to: • oversee our Corporate Governance Guidelines and Principles and Code of Conduct and Ethics; • review the overall corporate governance of the Company and recommend to the Board improvements when necessary; • oversee our legal and regulatory compliance, assessment and management of enterprise risk, our “see something, say something” ethics and compliance philosophy and our Speak Up! hotline and website; • identify and recommend to the Board individuals qualified to serve as directors of the Company and on committees of the Board; • oversee succession planning for the CEO; • oversee our corporate sustained value creation, including enterprise risk management (“ERM”), corporate responsibility and environmental, social and governance (“ESG”) initiatives; and • assist the Board in overseeing our policies and procedures for the receipt of shareholder suggestions regarding Board compensation and recommendations of the Board. The Board has affirmatively determined that each of the current members of the Nominating and Corporate Governance Committee meets the definition of “independent director” for purposes of serving on the Nominating and Corporate Governance Committee under SEC and Nasdaq rules. Pursuant to its charter, the Nominating and Corporate Governance Committee may delegate its responsibilities to a subcommittee so long as that subcommittee is solely comprised of one or more members of the Nominating and Corporate Governance Committee.


Talent and Compensation Committee

Members Gary J. Pruden (Chair) Dr. Gérard Ber Julie Eastland Dr. Phuong Khanh (P.K.) Morrow All Independent		The primary purpose of the Talent and Compensation Committee is to assist our Board in overseeing: • our strategy and practices relating to human capital management, including with respect to: recruitment, hiring, onboarding, management, development and retention; workplace environment and culture; employee engagement; diversity, equity, inclusion and belonging; and pay equity; • our management compensation policies and practices; • the determination and approval of the compensation of our executive officers and other members of senior management; • the administration of our equity and cash incentive compensation plans, including authorizing and granting awards under these plans; • the succession planning for senior management (other than the CEO, which is within the purview of the Nominating and Corporate Governance Committee); and • legal and regulatory compliance and risk with respect to employee compensation and certain employee-related matters, including the preparation of any related, required disclosures under SEC and Nasdaq rules. The Board has affirmatively determined that each of the current members of the Talent and Compensation Committee meets the definition of “independent director” for purposes of serving on the Talent and Compensation Committee under SEC and Nasdaq rules. Pursuant to its charter, the Talent and Compensation Committee may delegate its responsibilities to a subcommittee so long as that subcommittee is solely comprised of one or more members of the Talent and Compensation Committee, and may, as permitted by law, delegate its responsibilities to management, employees and other persons. Talent and Compensation Committee Interlocks and Insider Participation None of our executive officers currently serves, or has served during the last completed fiscal year, on the compensation committee or board of directors of any other entity that has one or more executive officers serving on our Board or Talent and Compensation Committee. None of the members of our Talent and Compensation Committee is an officer or employee of our Company, nor has any of them ever been an officer or employee of our Company.


Lantheus 2026 Proxy Statement		Proposal 1: Election of Directors		12



Board / Committee	Chair (Cash)			Lead Independent Director (Cash)			Member (Cash)		Grant Date Fair Value of Annual Equity Grant

Board of Directors		$135,000	⁽¹⁾		$100,000	⁽²⁾		$60,000		$400,000

Audit Committee		$25,000			—			$12,500		—

Talent and Compensation Committee		$20,000			—			$10,000		—

Nominating and Corporate Governance Committee		$16,000	⁽³⁾		—			$7,500		—

Science and Technology Committee		$16,000	⁽³⁾		—			$7,500		—



Name⁽¹⁾	Fees Earned or Paid in Cash		Stock Awards⁽²⁾			Option Awards⁽³⁾			Total
Minnie Baylor-Henry⁽⁴⁾		$80,833		$	199,941		$	199,983		$	480,757

Dr. Gérard Ber⁽⁵⁾		$65,875		$	199,941		$	199,983		$	465,799

Julie Eastland⁽⁶⁾		$76,667		$	199,941		$	199,983		$	476,591

Samuel Leno⁽⁷⁾		$89,375		$	199,941		$	199,983		$	489,299

Heinz Mäusli⁽⁸⁾		$80,000		$	199,941		$	199,983		$	479,924

Julie McHugh⁽⁹⁾		$152,660		$	199,941		$	199,983		$	552,584

Dr. Phuong Khanh (P.K.) Morrow⁽¹⁰⁾		$54,792		$	249,885		$	249,983		$	554,660

Gary J. Pruden⁽¹¹⁾		$92,500		$	199,941		$	199,983		$	492,424

Dr. James H. Thrall⁽¹²⁾		$89,000		$	199,941		$	199,983		$	488,924



Name of Beneficial Owner	Number of Shares of Common Stock Beneficially Owned		Percentage Ownership
Directors and Named Executive Officers

Mary Anne Heino⁽¹⁾		664,744		1.0	%

Minnie Baylor-Henry⁽²⁾		20,079		*

Dr. Gérard Ber⁽³⁾		51,025		*

Julie Eastland⁽⁴⁾		3,851		*

Samuel Leno⁽⁵⁾		69,223		*

Heinz Mäusli⁽⁶⁾		36,059		*

Julie McHugh⁽⁷⁾		36,144		*

Dr. Phuong Khanh (P.K.) Morrow⁽⁸⁾		1,578		*

Gary J. Pruden⁽⁹⁾		35,781		*

Dr. James H. Thrall⁽¹⁰⁾		45,926		*

Dr. Ludger Dinkelborg⁽¹¹⁾		—		*

Robert J. Marshall Jr.⁽¹²⁾		65,589		*

Amanda M. Morgan⁽¹³⁾		26,940		*

Daniel M. Niedzwiecki⁽¹⁴⁾		73,866		*

Brian A. Markison⁽¹⁵⁾		180,678		*

Paul M. Blanchfield⁽¹⁶⁾		69,426		*

All Directors and Executive Officers as a Group (14 persons)⁽¹⁷⁾		1,130,805		1.7	%

5% Shareholders

BlackRock, Inc.⁽¹⁸⁾		8,600,964		13.3	%

The Vanguard Group, Inc.⁽¹⁹⁾		6,973,141		10.8	%

Janus Henderson Group PLC⁽²⁰⁾		5,707,247		8.8	%

Entities affiliated with Farallon Partners, L.L.C.⁽²¹⁾		5,427,479		8.4	%

FMR LLC⁽²²⁾		4,399,524		6.8	%



Name		Title

Mary Anne Heino⁽¹⁾		Executive Chairperson and Chief Executive Officer

Robert J. Marshall, Jr.		Chief Financial Officer and Treasurer

Dr. Ludger Dinkelborg⁽²⁾		Head of Research and Development

Amanda M. Morgan		Chief Commercial Officer

Daniel M. Niedzwiecki		Chief Administrative Officer, General Counsel and Corporate Secretary

Brian A. Markison⁽³⁾		Former Chief Executive Officer

Paul M. Blanchfield⁽⁴⁾		Former President


Area		Highlights

Base Salary		• Approved merit-based adjustments to our NEOs’ base salaries, except for Ms. Heino and Dr. Dinkelborg, implemented in March 2025 in normal course of our compensation cycle. Ms. Heino’s base salary was established in November 2025 upon her appointment as our Executive Chairperson, and Dr. Dinkelborg’s base salary was established in August 2025 upon his appointment as our Head of Research and Development.

Executive Bonus Plan		• At the beginning of fiscal year 2025, approved the design of the 2025 Executive Bonus Plan (as described in detail under the heading “2025 Executive Bonus Plan” below), which includes: ^¡ financial metrics consisting of Net Revenue and Bonus EPS, as well as certain strategic objectives; and ^¡ individual performance assessment for each NEO. • In early 2026, the Talent and Compensation Committee reviewed our performance against our corporate metrics and strategic objectives, and each NEO’s individual performance assessment. Following the Talent and Compensation Committee’s certification of results, our average payout to each NEO, excluding Ms. Heino and Mr. Blanchfield, under the 2025 Executive Bonus Plan was 47% of target.


Area		Highlights

Equity Compensation		• Granted annual equity awards to our NEOs, except for Ms. Heino and Dr. Dinkelborg (as described below), in March 2025 consisting of 50% PSUs, 25% RSUs, and 25% stock options. Ms. Heino and Dr. Dinkelborg received equity awards consisting of 50% RSUs and 50% stock options upon their respective appointments in November and August 2025. Ms. Heino also received an equity award consisting of 50% RSUs and 50% stock options in May 2025 in connection with her service as our non-executive Chair of the Board. • We continued to use relative Total Shareholder Return (“rTSR”) against the S&P 400 Health Care Index as the sole metric to measure performance under the 2025 PSUs. For the 2025 PSUs, we added a provision that caps the payout at the target level of performance if our absolute Total Shareholder Return (“TSR”) is negative during the performance period. • We increased equity award values for certain of our NEOs in 2025 in consideration of our strong performance and continued growth in 2024, as well as our market positioning relative to our peer group. • For the PSU awards granted in 2023, we certified our three-year rTSR performance against the S&P 400 Health Care Index, which resulted in the vesting of 162.8% of the target number of Shares subject to those PSU awards.

Executive Benefits		• Offered key employees, including our NEOs, the opportunity to participate in the Lantheus Nonqualified Deferred Compensation Plan (the “LDCP”) as an additional option for personal financial planning. See the Nonqualified Deferred Compensation Plans section of this Proxy Statement for more information about the LDCP. • Offered financial advisory services and an executive physical health program to our key executives, including our NEOs. See the Perquisites and Other Benefits section of this Proxy Statement for more information about these two programs. • In addition to the benefits listed above, our NEOs are also eligible to participate in other retirement, welfare, and employee-benefit programs that are available to all of our eligible employees.


	Pay Element	Payment Form	Description/Objectives	Timing

Fixed	Base Salary	Cash	Fixed amount to attract and retain executive talent needed to achieve our Company objectives and strategy.	Initial base salaries are set at the time of hire and adjustments to base salaries are typically made in the first quarter of each year. The Talent and Compensation Committee may also adjust base salaries at any point during the year as it determines appropriate.

Variable	Executive Bonus Plan	Cash	Performance-based compensation used to motivate and reward individuals to achieve pre-established Company goals and promote individual performance.	Measured and paid out on an annual basis. Goals are typically set in the first 90 days of the year, and payouts are made upon completion of the year following determination of results and Talent and Compensation Committee approval of payouts.

Variable	Long-Term Incentives	Equity	Variable incentive compensation consisting of a mix of predominantly performance-based, but also time-based, equity awards. This approach promotes performance, supports retention, and creates shareholder alignment.	Generally granted at the time of hire and annually following the close of the previous fiscal year.



Screening Criteria		Description

Industry		U.S.-based publicly traded companies in the commercial biotechnology, pharmaceutical, health care supplies, and life science tools and services industries

Size		1/3x to 3x Lantheus’ trailing 12 months revenue and market capitalization and fewer than 10,000 employees

Other		Prioritized companies with similar size and valuation characteristics and considered (i) companies with a focus in diagnostics, imaging, injectable products, and/or oncology indications, (ii) companies with a Massachusetts headquarters, (iii) companies considered peers by shareholder advisory firms, and (iv) companies that are frequent peers of our peers



Peer Group Statistics	Revenue		Market Capitalization
75^th Percentile		$ 2,756M		$10,866M
50^th Percentile		$ 1,874M		$ 6,848M
25^th Percentile		$ 1,018M		$ 3,949M
Lantheus		$ 1,526M		$ 5,702M



Name	Base Salary at December 31, 2024		Base Salary at December 31, 2025		% Change
Mary Anne Heino⁽¹⁾		N/A		$1,000,000		N/A
Robert J. Marshall, Jr.		$676,000		$703,040		4.0	%
Dr. Ludger Dinkelborg⁽²⁾		N/A		$581,526		N/A
Amanda M. Morgan		$525,015		$546,016		4.0	%
Daniel M. Niedzwiecki		$561,600		$595,296		6.0	%
Brian A. Markison		$950,000		$1,000,000		5.3	%
Paul M. Blanchfield⁽³⁾		$676,000		N/A		N/A



Name⁽¹⁾	Base Salary at December 31, 2025		Target Bonus (% Salary)		Target Bonus
Mary Anne Heino⁽²⁾		$1,000,000		N/A		N/A
Robert J. Marshall, Jr.		$703,040		75%		$527,280
Dr. Ludger Dinkelborg⁽³⁾		$581,526		50%		$121,881
Amanda M. Morgan		$546,016		50%		$273,008
Daniel M. Niedzwiecki		$595,296		50%		$297,648
Brian A. Markison		$1,000,000		110%		$1,100,000



Performance Metric⁽¹⁾	Weighting			Threshold Performance (50% Payout)		Target Performance (100% Payout)		Maximum Performance (150% Payout)
Net Revenue⁽²⁾		30	%		$1,440M		$1,694M		$1,948M
Bonus EPS⁽³⁾		30	%		$5.22		$6.14		$7.06


Strategic Objective	Achievement	Rating

Advance and expand our radiopharmaceutical portfolio and capabilities	• Filed investigational new drug (“IND”) application for LNTH-2403 for osteosarcoma	Achieved expectations
	• Filed IND application for LNTH-2401/2402 for prostate cancer	Achieved expectations
	• Submitted NDA for MK-6240	Achieved expectations
	• Completed CMC development and Phase 3 trial for NAV-4694	Below Expectations
	• Enrolled last patient in PYLARIFY clinical trial for patients with favorable intermediate-risk prostate cancer	Achieved expectations
	• Announced and closed strategic acquisitions of Life Molecular and Evergreen	Exceeded expectations
Enhance systems, processes, policies and infrastructure that support innovation, productivity, scale and positive employee experience	• Implemented Enterprise Master Data (“EMD”) program, technology and processes by launching EMD governance council and streamlined customer on boarding process	Achieved expectations
	• Transitioned to direct billing for partner’s PET manufacturing facilities (“PMFs”) network	Achieved expectations
	• Implemented a new electronic quality management system	Achieved expectations
	• Implemented data privacy and protection and associated change management	Achieved expectations
	• Achieved milestones in critical areas of risk management	Achieved expectations
	• Fostered a pay for performance culture by developing and implementing a new performance management framework	Achieved expectations
	• Progressed Enterprise Resource Planning optimization entity redesign	Below expectations

Grow PYLARIFY by retaining customers and expanding PSMA PET market	• Delivered full year PYLARIFY revenue below targeted amount	Below expectations
	• PYLARIFY revenue market share fell below targeted percentage	Below expectations



Performance Metric	Weighting			Target Performance		Actual Performance		Payout as % of Target			Weighted Payout %
Net Revenue		30	%		$1,694M		$1,536M		69	%		20.7	%
Bonus EPS		30	%		$6.14		$5.14		0	%		0.0	%
Strategic Component		40	%		100%		80%		80	%		32.0	%
Corporate Performance Factor:												52.7	%


NEO	Individual Performance Factor			Talent and Compensation Committee Considerations

Brian A. Markison		75	%	• Made progress to shape and sharpen strategic focus within radiopharmaceuticals with two major acquisitions and the divestiture of the SPECT Business. • Provided guidance on establishing a robust pipeline, portfolio planning and strategic function. • However, Company did not meet financial goals due in part to competitive headwinds with PYLARIFY.

Robert J. Marshall, Jr.		100	%	• Acted to reduce expenditures, including people related costs, given Company did not meet financial goals due in part to competitive headwinds with PYLARIFY. • Provided financial guidance and strategic advice in a complex year that included two major acquisitions and the divestiture of the SPECT Business.

Dr. Ludger Dinkelborg		100	%	• Appointed as Head of Research and Development in August 2025 following the close of LMI acquisition

Amanda M. Morgan		75	%	• Developed and executed focused strategy to navigate competitive headwinds, including expanded PMF partnership and strategic contracting. • Attracted key talent for critical roles within the Commercial organization. • However, Company did not meet financial goals due in part to competitive headwinds with PYLARIFY.

Daniel M. Niedzwiecki		100	%	• Managed a complex year that included two major acquisitions and the divestiture of the SPECT Business, while overseeing key G&A functions including HR and IT. • Provided strategic leadership and oversight to integration efforts including management of scope, budget, timeline and resources • Strengthened talent on the legal team providing depth in legal experience and expertise for the organization.


Name	Target Bonus Opportunity			Corporate Performance Factor				Individual Performance Factor				Resulting Payout
Robert J. Marshall, Jr.		$527,280	x		52.7	%	x		100	%	=		$277,877
Dr. Ludger Dinkelborg		$121,881	x		52.7	%	x		100	%	=		$64,231
Amanda M. Morgan		$273,008	x		52.7	%	x		75	%	=		$107,906
Daniel M. Niedzwiecki		$297,648	x		52.7	%	x		100	%	=		$156,860
Brian A. Markison		$1,100,000	x		52.7	%	x		75	%	=		$434,775



Lantheus rTSR Performance		Payout as a Percentage of Target
75^th Percentile and Above (maximum)		200%
50^th Percentile (target)		100%
25^th Percentile (threshold)		50%
Below 25^th Percentile		0%



Name	PSUs⁽¹⁾		RSUs		Stock Options		2025 Total LTI Value
Robert J. Marshall, Jr.		$1,600,000		$800,000		$800,000		$3,200,000
Amanda M. Morgan		$1,000,000		$500,000		$500,000		$2,000,000
Daniel M. Niedzwiecki		$1,600,000		$800,000		$800,000		$3,200,000
Brian A. Markison⁽²⁾		$4,750,000		$2,375,000		$2,375,000		$9,500,000
Paul M. Blanchfield⁽³⁾		$1,800,000		$900,000		$900,000		$3,600,000



Name	Target PSUs Awarded		Resulting Share Payout
Mary Anne Heino		51,124		83,229
Robert J. Marshall, Jr.		13,522		22,013
Amanda M. Morgan		4,430		7,212
Daniel M. Niedzwiecki		10,432		16,983



Role	Stock Ownership Required as a Multiple of Salary
Chief Executive Officer		6x
Other Executive Officers		2x


Name Position	Year		Salary ($)		Bonus ($)		Stock Awards⁽¹⁾($)		Option Awards⁽²⁾ ($)		Non-Equity Incentive Plan Compensation⁽³⁾ ($)		All Other Compensation⁽⁴⁾ ($)		Total ($)

Mary Anne Heino⁽⁵⁾		2025		$100,000		—		$749,963		$749,999		—		$573,968		$2,173,930
Executive Chairperson and Chief Executive Officer		2024		$255,577		—		—		—		—		$532,019		$787,596
Executive Chairperson and Chief Executive Officer		2023		$873,628		—		$8,332,445		$1,874,997		$1,484,050		$13,725		$12,578,845

Robert J. Marshall, Jr.		2025		$697,840		—		$3,403,332		$799,967		$277,877		$15,948		$5,194,964
Chief Financial Officer and Treasurer		2024		$669,000		—		$3,328,227		$787,483		$634,561		$15,525		$5,434,796
Chief Financial Officer and Treasurer		2023		$569,836		—		$2,528,846		$495,933		$718,575		$12,821		$4,326,011

Dr. Ludger Dinkelborg⁽⁶⁾⁽⁷⁾		2025		$227,716		—		$799,968		$799,985		$13,410,752		$21,176		$15,259,597
Head of Research and Development

Amanda M. Morgan⁽⁸⁾		2025		$541,977		—		$2,127,140		$499,958		$107,906		$27,566		$3,304,547
Chief Commercial Officer		2024		$504,819		—		$1,584,833		$374,975		$328,554		$15,525		$2,808,706

Daniel M. Niedzwiecki		2025		$588,816		—		$3,403,332		$799,967		$156,860		$17,409		$4,966,384
Chief Administrative Officer, General Counsel and Corporate Secretary		2024		$555,785		—		$2,773,526		$656,224		$351,449		$15,348		$4,352,332
		2023		$527,500		—		$1,795,647		$399,990		$379,890		$12,701		$3,115,728

Brian A. Markison⁽⁹⁾		2025		$990,385		—		$10,104,081		$2,374,972		$434,775		$15,525		$13,919,738
Former Chief Executive Officer		2024		$855,000		—		$11,106,152		—		$1,189,020		$250,525		$13,400,697

Paul M. Blanchfield⁽¹⁰⁾		2025		$693,333		—		$3,828,938		$899,970		—		$13,034		$5,435,275
Former President		2024		$669,000		—		$3,328,227		$787,483		$507,649		$15,525		$5,307,884
Former President		2023		$614,500		—		$3,379,211		$749,918		$548,730		$12,881		$5,305,240


Name	Grant Date		Units Granted (#)		Grant Date Fair Value ($)		Maximum Grant Date Fair Value ($)

Mary Anne Heino
2023 PSUs		3/2/2023		51,124		$6,457,472		$12,914,944

Robert J. Marshall, Jr.
2025 PSUs		3/5/2025		15,923		$2,603,411		$5,206,822
2024 PSUs		3/1/2024		24,365		$2,540,782		$5,081,564
2023 PSUs		3/2/2023		13,522		$1,707,964		$3,415,928

Amanda M. Morgan
2025 PSUs		3/5/2025		9,952		$1,627,152		$3,254,104
2024 PSUs		3/1/2024		11,602		$1,209,857		$2,419,714

Daniel M. Niedzwiecki
2025 PSUs		3/5/2025		15,923		$2,603,411		$5,206,822
2024 PSUs		3/1/2024		20,304		$2,117,301		$4,234,602
2023 PSUs		4/17/2023		2,201		$356,078		$712,156
2023 PSUs		3/2/2023		8,231		$1,039,658		$2,079,316

Brian A. Markison
2025 PSUs		3/5/2025		47,273		$7,729,136		$15,458,272
2024 PSUs		3/1/2024		65,748		$6,856,201		$13,712,404



Name	401(k) Matching Contribution			Executive Physical Reimbursement			Company Contributions Under LDCP			Expense Reimbursements^(a)			Director Compensation^(b)			Other^(c)			Total
Mary Anne Heino			—			—			—		$	34,877		$	539,091			—		$	573,968
Robert J. Marshall, Jr.		$	15,525		$	423			—			—			—			—		$	15,948
Dr. Ludger Dinkelborg			—			—			—			—			—		$	21,176		$	21,176
Amanda M. Morgan		$	15,525		$	1,774		$	10,267			—			—			—		$	27,566
Daniel M. Niedzwiecki		$	15,635		$	1,774			—			—			—			—		$	17,409
Brian A. Markison		$	15,525			—			—			—			—			—		$	15,525
Paul M. Blanchfield		$	11,934		$	1,100			—			—			—			—		$	13,034


	Grant Date		Estimated Future Payouts Under Non-Equity Incentive Plan Awards⁽¹⁾						Estimated Future Payouts Under Equity Incentive Plan Awards⁽²⁾			All Other Stock Awards: Units⁽³⁾ (#)	All Other Option Awards: Securities Underlying Options⁽⁴⁾ (#)	Exercise Price of Options⁽⁵⁾ ($)	Grant Date Fair Value of Stock and Option Awards⁽⁶⁾ ($)
Name	Grant Date		Threshold ($)		Target ($)		Maximum ($)		Threshold (#)	Target (#)	Maximum (#)	All Other Stock Awards: Units⁽³⁾ (#)		Exercise Price of Options⁽⁵⁾ ($)

Mary Anne Heino⁽⁷⁾				—		—		—
		5/14/2025										2,537			$199,941
		5/14/2025											4,543	$78.81	$199,983
		11/17/2025										14,285			$749,963
		11/17/2025											26,325	$52.50	$749,999

Robert J. Marshall, Jr.				—		$527,280		$1,186,380
		3/5/2025							7,961	15,923	31,846				$2,603,411
		3/5/2025										7,961			$799,921
		3/5/2025											13,927	$100.48	$799,967

Dr. Ludger Dinkelborg				—		$121,881		$274,232
		8/15/2025										14,765			$799,968
		8/15/2025											25,324	$54.18	$799,985

Amanda M. Morgan				—		$273,008		$614,268
		3/5/2025							4,976	9,952	19,904				$1,627,152
		3/5/2025										4,976			$499,988
		3/5/2025											8,704	$100.48	$499,958

Daniel M. Niedzwiecki				—		$297,648		$669,708
		3/5/2025							7,961	15,923	31,846				$2,603,411
		3/5/2025										7,961			$799,921
		3/5/2025											13,927	$100.48	$799,967

Brian A. Markison⁽⁸⁾				—		$1,100,000		$2,475,000
		3/5/2025							23,636	47,273	94,546				$7,729,136
		3/5/2025										23,636			$2,374,945
		3/5/2025											41,347	$100.48	$2,374,972

Paul M. Blanchfield⁽⁹⁾				—		$492,128		$1,107,288
		3/5/2025							8,957	17,914	35,828				$2,928,939
		3/5/2025										8,957			$899,999
		3/5/2025											15,668	$100.48	$899,970


			Option Awards								Stock Awards
Name Award Type	Grant Date		Number of Securities Underlying Unexercised Options (#) Exercisable		Number of Securities Underlying Unexercised Options (#) Unexercisable		Option Exercise Price ($)		Option Expiration Date		Number of Shares or Units of Stock that Have Not Vested (#)		Market Value of Shares or Units of Stock that Have Not Vested⁽¹⁾ ($)		Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights that Have Not Vested (#)		Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights that Have Not Vested⁽¹⁾ ($)
Mary Anne Heino
Options⁽²⁾		3/3/2022		42,822		—		$49.93		3/3/2032
Options⁽²⁾		3/2/2023		29,797		14,899		$73.35		3/2/2033
Options⁽²⁾		5/9/2024		4,853		—		$75.90		5/9/2034
Options⁽²⁾		5/14/2025		—		4,543		$78.81		5/14/2035
Options⁽²⁾		11/17/2025		—		26,325		$52.50		11/17/2035
RSUs⁽³⁾		3/2/2023										8,521		$567,073
RSUs⁽³⁾		5/14/2025										2,537		$168,837
RSUs⁽³⁾		11/17/2025										14,285		$950,667
PSUs⁽⁴⁾		3/2/2023														102,248		$6,804,604
Robert J. Marshall, Jr.
Options⁽²⁾		3/2/2023		7,881		3,941		$73.35		3/2/2033
Options⁽²⁾		3/1/2024		7,217		14,435		$64.64		3/1/2034
Options⁽²⁾		3/5/2025		—		13,927		$100.48		3/5/2035
RSUs⁽³⁾		3/2/2023										2,254		$150,004
RSUs⁽³⁾		8/29/2023										1,624		$108,077
RSUs⁽³⁾		3/1/2024										8,122		$540,519
RSUs⁽³⁾		3/5/2025										7,961		$529,805
PSUs⁽⁴⁾		3/2/2023														27,044		$1,799,778
PSUs⁽⁴⁾		3/1/2024														48,730		$3,242,982
PSUs⁽⁴⁾		3/5/2025														31,846		$2,119,351
Dr. Ludger Dinkelborg
Options⁽²⁾		8/15/2025		—		25,324		$54.18		8/15/2035
RSUs⁽³⁾		8/15/2025										14,765		$982,611
Amanda M. Morgan
Options⁽²⁾		12/15/2022		5,432		—		$52.72		12/15/2032
Options⁽²⁾		3/1/2024		3,436		6,874		$64.64		3/1/2034
Options⁽²⁾		3/5/2025		—		8,704		$100.48		3/5/2035
RSUs⁽³⁾		3/2/2023										150		$9,983
RSUs⁽³⁾		3/1/2024										3,868		$257,415
RSUs⁽³⁾		3/5/2025										4,976		$331,153
PSUs⁽⁴⁾		3/2/2023														8,860		$589,633
PSUs⁽⁴⁾		3/1/2024														23,204		$1,544,226
PSUs⁽⁴⁾		3/5/2025														19,904		$1,324,611



Name	Executive Contributions in 2025⁽¹⁾ ($)		Registrant Contributions in 2025⁽²⁾ ($)		Aggregate Earnings in 2025⁽³⁾ ($)		Aggregate Withdrawals/ Distributions ($)		Aggregate Balance at December 31, 2025 ($)
Robert J. Marshall, Jr.		—		—		—		—		—
Amanda M. Morgan⁽⁴⁾		$26,977		$10,267		$4,346		—		$62,125
Daniel M. Niedzwiecki		—		—		—		—		—
Brian A. Markison		—		—		—		—		—
Paul M. Blanchfield⁽⁵⁾		$57,824		—		$31,572		—		$216,308