CEO total pay
$23,532,050
Michael F. Mahoney · 2025
Say on pay
9%
Latest disclosed shareholder vote
CEO pay ratio
Item 402(u)348 to 1
Median employee: $23,532,050
Compensation committee
CD&ACompensation Committee
Per the latest proxy
Filings indexed: 2 · 2026 · 2025
Executive pay
What did they pay them?
From the Summary Compensation Table. Pay mix and YoY are computed from these rows.
| Executive | Role | TotalYoY | Pay mix | Salary | Stock | Cash incentive | Other |
|---|---|---|---|---|---|---|---|
Michael F. Mahoney2025 compensation | Chairman of the Board,President andChief Executive Officer | $23,532,050↑ 10% | 93% at-risk | $1,442,603 | $13,608,056 | $4,002,001 | $287,799 |
Daniel J. Brennan2025 compensation | Former Executive Vice President and Chief Financial Officer | $6,282,896↓ 6% | 89% at-risk | $660,990 | $3,447,272 | $1,098,004 | $36,738 |
Joseph M. Fitzgerald2025 compensation | Executive Vice President and Group President,Cardiovascular | $8,042,997↑ 27% | 88% at-risk | $892,604 | $4,309,282 | $1,458,001 | $45,657 |
Arthur C. Butcher2025 compensation | Executive Vice Presidentand Group President, MedSurg and Asia Pacific | $6,534,719↑ 30% | 85% at-risk | $744,822 | $3,447,272 | $1,012,501 | $219,667 |
Jonathan R. Monson2025 compensation | Named executive officer | $6,083,679 | 85% at-risk | $591,848 | $1,624,898 | $840,000 | $38,453 |
Jeffrey B. Mirviss2025 compensation | Executive Vice Presidentand President, PeripheralInterventions | $4,159,959↑ 3% | 81% at-risk | $702,042 | $1,995,566 | $793,126 | $59,238 |
Vance R. Brown2025 compensation | Named executive officer | $3,920,644 | 81% at-risk | $659,086 | $1,723,636 | $897,751 | $45,286 |
Pay mix: base cash incentive equity other
CD&A excerpt
Compensation discussion & analysis
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Peer comparison
Who they benchmark against
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Compensation Peer Group
13 members · 6 in ProxyMiner
EW · Edwards Lifesciences CorpDGX · QUEST DIAGNOSTICS INCA · AGILENT TECHNOLOGIES, INC.GEHC · GE HealthCare Technologies Inc.SYK · STRYKER CORPBAX · BAXTER INTERNATIONAL INCHologic, Inc.TMO · THERMO FISHER SCIENTIFIC INC.BDX · BECTON DICKINSON & COISRG · INTUITIVE SURGICAL INCZBH · ZIMMER BIOMET HOLDINGS, INC.DHR · DANAHER CORP /DE/MDT · Medtronic plc
Governance
Policy guardrails
hedging
prohibited
“Prohibition on Pledging and Hedging the Economic Value of Our Common Stock”
pledging
prohibited
“Prohibition on Pledging and Hedging the Economic Value of Our Common Stock”
clawback
present
“Clawback Policy provides for the mandatory recoupment of erroneously awarded incentive-based compensation in the event of an accounting restatement”
stock ownership guidelines
present
“Stock Ownership Guidelines”
change in control
Change in Control Agreements
“Change in Control Agreements”
compensation consultant
independent
“engages an independent compensation consultant, Semler Brossy Consulting Group, LLC (Semler Brossy), which serves under its direction and supervision”
compensation committee
Compensation Committee
“Chief Executive Officer and Compensation Committee Judgment”
Performance markers
Metric facts
revenue
$19.027 billion
“based on performance towards employee engagement and environmental goals, and in the case of the quality modifier, the distribution percentage may be reduced based on the Compensation Committee’s assessment of the Compan…”
operating income
$19.931 billion
“value. 2026 Proxy Statement49 Results for 2025 ABP and Long-Term Incentive Plans Below is a summary of our 2025 results for the financial metrics in the Company’s short- and long-term incentive plans. ABP Financial Metri…”
annual incentive payout
75%
“We maintain a Deferred Bonus Plan for certain of our management, including our NEOs, in order to provide them with the opportunity to defer up to 75% of their annual award under our ABP until the earlier of termination o…”
performance equity mix
200%
“Company Performance-Based RSUs — Results for Performance Period ended December 31, 2025”
say on pay
9%
“Say on Pay Results202591.9%202492.7%202392.6%”
ceo pay ratio
348 to 1
“our methodology and the resulting CEO Pay Ratio. For 2025, our last completed fiscal year: •the annual total compensation of the employee identified at median of our Company (other than our CEO), was $67,539; and •the an…”
median employee compensation
$23,532,050
“the annual total compensation of the employee identified at median of our Company (other than our CEO), was $67,539; and •the annual total compensation of our CEO was $23,532,050. Based on this information, for 2025, the…”
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