CEO total pay
$20,797,845
Robert M. Davis · 2025
Say on pay
91%
Latest disclosed shareholder vote
CEO pay ratio
Item 402(u)191 to 1
Median employee: $20,797,845
Compensation committee
CD&ACompensation and Management Development 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 |
|---|---|---|---|---|---|---|---|
Robert M. Davis2025 compensation | Chairman, Chief Executive Officer and President | $20,797,845↓ 10% | 89% at-risk | $1,645,302 | $12,102,838 | $2,326,500 | $658,058 |
Caroline Litchfield2025 compensation | Executive Vice President and Chief Financial Officer | $7,514,085→ 0% | 81% at-risk | $1,173,214 | $3,580,681 | $1,099,800 | $127,618 |
Dean Li, M.D., Ph.D.2025 compensation | Executive Vice President and President, Merck Research Laboratories | $8,892,881↓ 12% | 81% at-risk | $1,460,000 | $4,296,864 | $1,368,640 | $168,547 |
Jennifer Zachary2025 compensation | Executive Vice President and General Counsel | $5,860,578 | 79% at-risk | $1,062,217 | $2,685,571 | $995,749 | $112,722 |
Sanat Chattopadhyay2025 compensation | Executive Vice President and President, Merck Manufacturing Division | $5,408,408 | 77% at-risk | $982,170 | $2,363,261 | $920,710 | $191,199 |
Pay mix: base cash incentive equity other
CD&A excerpt
Compensation discussion & analysis
Opening passage of the loaded filing's CD&A. Use Ask below to query the full text with citations.
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Peer comparison
Who they benchmark against
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2025 Peer Group
10 members · 6 in ProxyMiner
2025 Primary Peer Group
10 members · 6 in ProxyMiner
2025 Peer Group
9 members · 6 in ProxyMiner
2025 Primary Peer Group
9 members · 6 in ProxyMiner
Governance
Policy guardrails
hedging
Hedging and Pledging
“Hedging and Pledging”
pledging
Hedging and Pledging
“Hedging and Pledging”
clawback
present
“Clawback Policy”)”
stock ownership guidelines
present
“The C&MD Committee recognizes the critical role that executive stock ownership has in aligning the interests of management with those of shareholders. As such, we maintain a formal stock ownership policy that requires th…”
change in control
For information on payments and benefits in connection with a retirement, see “Potential Payments Upon Termination or a Change in Control” on page 80.
“For information on payments and benefits in connection with a retirement, see “Potential Payments Upon Termination or a Change in Control” on page 80.”
compensation consultant
independent
“independent compensation consultant, and discussed with the C&MD Committee in November 2024”
compensation committee
Compensation and Management Development Committee
“Compensation and Management Development Committee”
Performance markers
Metric facts
revenue
$65.01
“items, consistent with plan design. (2) Reflects adjustment of +1.0 point for certain regulatory approvals received but not originally anticipated in 2025. (3) Rounded to the nearest whole number. Revenue: Consistent wit…”
say on pay
91%
“votes cast in favor of the say-on-pay proposal.”
ceo pay ratio
191 to 1
“median employee as calculated under the Summary Compensation table requirements was $108,614. This calculation is comprised of base salary, annual cash incentive, savings plan matching contributions, and change in pensio…”
median employee compensation
$20,797,845
“the Summary Compensation table requirements was $108,614. This calculation is comprised of base salary, annual cash incentive, savings plan matching contributions, and change in pension value. The total annual compensati…”
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Anything about Merck & Co., Inc.’s 2026 proxy
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