{"url_path":"/sec/glsi/10-k/2026/item-11","section_key":"item-11","section_title":"Item 11 EXECUTIVE COMPENSATION**","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-06-01","source_url":"https://www.sec.gov/Archives/edgar/data/1799788/0001493152-26-026651-index.html","accession_number":"0001493152-26-026651","cik":"0001799788","ticker":"GLSI","issuer_name":"Greenwich LifeSciences, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1799788/0001493152-26-026651-index.html","primary_entity_key":"0001799788","primary_entity_name":"Greenwich LifeSciences, Inc."},"word_count":1671,"has_tables":true,"body_markdown":"**ITEM\n11. EXECUTIVE COMPENSATION**\n\n \n\n**Summary\nCompensation Table**\n\n \n\nThe\nfollowing table presents the compensation awarded to, earned by or paid to each of our named executive officers for the year ended December\n31, 2025.\n\n \n\nName and Principal Position \nYear  \n\n**Salary**\n\n**($)**\n  \n\n**Bonus**\n\n**($)(1)**\n  \n\n**Stock**\n\n**awards**\n\n**($)(1)**\n  \n\n**Total**\n\n**($)**\n \n\nSnehal Patel, *Chief Executive Officer* \n 2025  \n \n735,075\n\n  \n \n367,538\n\n  \n \n4,898,642\n\n  \n 6,001,255 \n\n  \n 2024  \n 612,563  \n 306,281  \n 5,322,841  \n 6,241,685 \n\n \n\n(1)\nFor\n2025 fiscal year, Mr. Patel received deferred bonus compensation of $367,538 and options to purchase 624,357 shares of common stock\nfor services rendered and as incentive for services to be rendered. For 2024 fiscal year, Mr. Patel received deferred bonus compensation\nof $306,281 and options to purchase 630,000 shares of common stock for services rendered and as incentive for services to be rendered.\n\n** **\n\n**Outstanding\nEquity Awards at Fiscal Year-End**\n\n \n\nThe\nfollowing table provides information regarding awards held by each of our named executive officers that were outstanding as of December\n31, 2025.\n\n \n\n  \nOption Awards  \n \n\nName \n\nNumber\nof Securities\n\nUnderlying\nUnexercised\n\nOptions (#)\nExercisable\n  \n\nNumber\nof Securities\n\nUnderlying\nUnexercised\n\nOptions (#)\nUnexercisable\n  \n\nOption\n\nExercise Price ($)\n  \n\nOption\n\nExpiration Date\n\nSnehal Patel(1) \n 369,675  \n 679,048  \n 7.63  \nJune 22, 2032\n\n  \n 153,000  \n 995,723  \n 12.16  \nDecember 24, 2034\n\n  \n 100,000  \n 0  \n 8.20  \nNovember 13, 2035\n\n \n\n(1)\n\nWe granted Mr. Patel options to purchase shares of common stock on June\n22, 2022 for compensation and incentives to be earned in equal installments over 48 months. Between the 30 month period, June, 22, 2022\nto December 31, 2025, Mr. Patel earned 924,187 options which may or may not vest based on certain additional performance milestones of\nwhich 40% are currently vested and exercisable, totaling 369,675 shares, and the balance, or 679,048 options, may or may not vest over\napproximately 6 month period commencing on January 1, 2026 or thereafter.\n\n \n \n\n \n\nWe\ngranted Mr. Patel 100,000 options to purchase shares of common stock on December 24, 2024\nfor compensation and incentives which vest immediately.\n\n \n\nWe granted Mr. Patel an additional 1,048,723 options to purchase shares\nof common stock on December 24, 2024 for compensation and incentives of which 25% are earned immediately and the remainder are to be earned\nin equal installments over 36 months. Between December 24, 2024 to December 31, 2025, Mr. Patel earned 529,995 options which may or may\nnot vest based on certain additional time based milestones of which 10% are currently vested and exercisable, totaling 53,000 shares,\nand the balance, or 995,723 options, may or may not vest over the 24 month period commencing on January 1, 2026 or thereafter.\n\n \n\nWe\ngranted Mr. Patel 100,000 options to purchase shares of common stock on November 13, 2025 for compensation and incentives which vest\nimmediately.\n\n \n\n**Non-Employee\nDirector Compensation**\n\n \n\nThe\nfollowing table presents the total compensation for each person who served as a non-employee member of our board and received compensation\nfor such service during the fiscal year ended December 31, 2025. Other than as set forth in the table and described more fully below,\nwe did not pay any compensation, make any equity awards or non-equity awards to, or pay any other compensation to any of the non-employee\nmembers of our board in 2025.\n\n \n\nName \n\n**Fees Earned or**\n\n**Paid in Cash**\n\n**($)**\n  \n\n**Stock and Option Awards**\n\n**($)**\n  \n\n**All Other**\n\n**Compensation**\n\n**($)**\n  \n\n**Total**\n\n**($)**\n \n\nDavid McWilliams(1) \n        \n 252,466  \n            \n 252,466 \n\nEric Rothe(2) \n    \n 168,393  \n    \n 168,393 \n\nKenneth Hallock(3) \n    \n 168,393  \n    \n 168,393 \n\n \n\n(1)\n\nWe\ngranted Mr. McWilliams options to purchase shares of common stock on June 22, 2022 for compensation\nand incentives to be earned in equal installments over 48 months of which 15,496 options\nvested between January 1, 2025 and December 31, 2025 over the 12 month period, and the remaining\nbalance, or 7,361 options, vest over approximately 6 monthly installments commencing on January\n1, 2026.\n\n \n\nWe\ngranted Mr. McWilliams options to purchase shares of common stock on December 24, 2024 for compensation and incentives to be earned\nin equal installments over 36 months of which 15,492 options vested between January 1, 2025 and December 31, 2025 over the 12 month\nperiod, and the remaining balance, or 30,663 options, vest over 24 equal monthly installments commencing on January 1, 2026.\n\n \n\n63\n\n[Table of Contents](#toc_001)\n\n \n\n(2)\n\nWe\ngranted Mr. Rothe options to purchase shares of common stock on June 22, 2022 for compensation\nand incentives to be earned in equal installments over 48 months of which 10,337 options\nvested between January 1, 2025 and December 31, 2025 over the 12 month period, and the\nremaining balance, or 4,910 options, vest over approximately 6 monthly installments commencing\non January 1, 2026.\n\n \n \n\n \nWe granted Mr. Rothe options to purchase shares of common\nstock on December 24, 2024 for compensation and incentives to be earned in equal installments over 48 months of which 10,332 options\nvested between January 1, 2025 and December 31, 2025 over the 12 month period, and the remaining balance, or 20,458 options, vest\nover 24 equal monthly installments commencing on January 1, 2026.\n\n \n \n\n(3)\n\nWe\ngranted Mr. Hallock options to purchase shares of common stock on June 22, 2022 for compensation\nand incentives to be earned in equal installments over 48 months of which 10,337 options\nvested between January 1, 2025 and December 31, 2025 over the 12 month period, and the\nremaining balance, or 4,910 options, vest over approximately 6 monthly installments commencing\non January 1, 2026.\n\n \n \n\n \nWe granted Mr. Hallock options to purchase shares of\ncommon stock on December 24, 2024 for compensation and incentives to be earned in equal installments over 48 months of which 10,332\noptions vested between January 1, 2025 and December 31, 2025 over the 12 month period, and the remaining balance, or 20,458 options,\nvest over 24 equal monthly installments commencing on January 1, 2026.\n\n \n\n**Employment\nAgreements**\n\n \n\n**Snehal\nPatel Employment Agreement**\n\n \n\nOn\nSeptember 29, 2020, we entered into an employment agreement (the “Employment Agreement”) with Snehal Patel, our Chief Executive\nOfficer in connection with our initial public offering (the “IPO”). The term of the Employment Agreement will continue until\nDecember 31, 2021 and automatically renews for successive one year periods at the end of each term until either party delivers written\nnotice of their intent not to renew at least 60 days prior to the expiration of the then effective term. Pursuant to the terms of the\nEmployment Agreement, Mr. Patel shall, among other things, (i) receive a base salary of $450,000, subject to increase, (ii) shall be\neligible to receive equity grants, (iii) shall be eligible to receive an annual bonus of up to 50% of his then base salary and (iv) shall\nbe eligible to receive a strategic transaction bonus. In addition, Mr. Patel shall also be eligible to participate in all employee welfare\nand benefit plans and shall receive such other fringe benefits as we offer to our senior executives and directors.\n\n \n\nIn\nthe event Mr. Patel’s employment is terminated by us for Cause (as defined in the Employment Agreement), as a result of Mr. Patel’s\ndeath or Disability (as defined in the Employment Agreement), voluntarily by Mr. Patel without Good Reason (as defined in the Employment\nAgreement), or upon expiration of the term, we shall pay Mr. Patel (i) a lump sum amount equal to (A) any unpaid base salary and equity\ngrants then due plus (B) any bonus earned but not paid and (ii) any unpaid expenses (collectively, the “Patel Compensation”).\nIn addition, if Mr. Patel’s employment is terminated for death, Disability or as a result of the expiration of the term of the\nEmployment Agreement as a result of the non-renewal of such term by us, we shall pay Mr. Patel any pro-rated bonus for the target year\nin which the termination occurs. In the event Mr. Patel’s employment is terminated by us without Cause or by Mr. Patel for Good\nReason, we shall pay Mr. Patel (i) the Patel Compensation, (ii) any pro-rated bonus for the target year in which the termination occurs\nand (iii) provided that Mr. Patel executes the Release (as defined in the Employment Agreement), (A) the Severance Payment (as defined\nin the Employment Agreement) and (B) COBRA premiums for twelve months from the date of termination. In the event of Mr. Patel’s\ntermination (i) by us without Cause or by Mr. Patel for Good Reason within six months prior to the consummation of a Change of Control\n(as defined in the Employment Agreement) transaction, if, prior to or as of such termination, a Change of Control transaction was Pending\n(as defined in the Employment Agreement), at any time during such six month period, (ii) by Mr. Patel for Good Reason at any time within\ntwelve months after the consummation of a Change of Control, or (iii) by us without Cause at any time within twelve months after the\nconsummation of a Change of Control, Mr. Patel shall receive (A) the Patel Compensation, (B) any pro-rated bonus for the target year\nin which the termination occurs and (C) provided that Mr. Patel executes the Release, (a) a lump sum amount equal to twelve months of\nMr. Patel’s then base salary and equity grants at the rate in effect as of the date of termination and (b) COBRA premiums for six\nmonths from the date of termination. Furthermore, all of the shares that are then unvested shall immediately vest and, all options, warrants\nand other convertible securities beneficially held by Mr. Patel shall become fully exercisable for (i) a period of six months following\nthe date of termination only if at the time of such termination there is a Change of Control transaction Pending but in no event beyond\nexpiration of the original term of the award or (ii) if clause (i) does not apply, then such period of time set forth in the agreement\nevidencing the security. The Employment Agreement also contains covenants restricting Mr. Patel from: (i) engaging in any activity competitive\nwith our business during the term of the Employment Agreement and for a period of one year thereafter; and (ii) soliciting our customers,\nsuppliers or employees during the term of the Employment Agreement and for a period of one year thereafter."}