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Companies Select Medical Holdings Corp

Select Medical (SEM): executive pay, fiscal 2025

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CEO total pay$3,042,527CEO Thomas Mullin · source
Say-on-pay support97.07%Latest vote · source
CEO pay ratio41:1To the median employee · source

CEO pay, last three years

  • $4,842,138FY2024
  • $3,042,527FY2025

CEO total pay was $3,042,527 in fiscal 2025, down from $4,842,138 in fiscal 2024.

FY2025: salary $618,000 · stock awards $1,425,000 · option awards $0

Executives and directors

Frequently asked questions

Who was the highest-paid executive at Select Medical Holdings Corp in fiscal 2025?
As disclosed, Robert Ortenzio (Executive Chairman and Co-Founder) was the highest-paid executive at Select Medical Holdings Corp in fiscal 2025, with total compensation of $6,615,969.
What is Select Medical Holdings Corp's CEO-to-median employee pay ratio?
As disclosed, Select Medical Holdings Corp's CEO-to-median employee pay ratio was 41:1.
How did shareholders vote on Select Medical Holdings Corp's executive compensation?
As disclosed, 97.07% of shareholders supported Select Medical Holdings Corp's executive compensation in the latest say-on-pay vote.
How much does Select Medical Holdings Corp spend in total on board compensation for fiscal 2025?
As disclosed, Select Medical Holdings Corp reported total board compensation of $2,590,900 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

Full detail

Every table from the filing. Open any section.

Summary compensation table
Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Robert Ortenzio$995,000—$3,562,500$0$1,890,500$0$167,969$6,615,969
Executive Chairman and Co-Founder
David Chernow995,000—3,562,50001,890,500094,4056,542,405
Vice Chairman
Martin Jackson700,000—2,137,50001,064,0000109,6914,011,191
Senior Executive Vice President of Strategic Finance and Operations
Thomas Mullin618,000—1,425,0000939,360060,1673,042,527
Chief Executive Officer
John Saich618,000—1,425,0000939,360053,1673,035,527
President
Michael Malatesta585,000—1,068,7500889,200038,3972,581,347
Executive Vice President and Chief Financial Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Robert Ortenzio$6,615,969$10,343,119$10,771,792↓ −3,727,150
David Chernow6,542,40510,311,73310,706,265↓ −3,769,328
Martin Jackson4,011,1916,199,7556,468,839↓ −2,188,564
Thomas Mullin3,042,5274,842,138—↓ −1,799,611
John Saich3,035,527———
Michael Malatesta2,581,3473,952,6971,526,244↓ −1,371,350

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

Incentive-plan design — the Compensation Discussion & Analysis

The Company's compensation philosophy for NEOs is designed with the primary goals of rewarding the contributions of NEOs to the Company's financial performance and providing overall compensation sufficient to attract and retain highly skilled NEOs who are properly motivated to contribute to the Company's financial performance.

CEO STI target (% of salary)80%
CEO LTI target (% of salary)—
Independent consultantnot disclosed
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
Equity grants and outstanding awards

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
John SaichRSU2025-07-29——100,000—$1,425,000
Thomas MullinRSU2025-07-29——100,000—1,425,000
Michael MalatestaRSU2025-07-29——75,000—1,068,750
Martin JacksonRSU2025-07-29——150,000—2,137,500
Robert OrtenzioRSU2025-07-29——250,000—3,562,500
David ChernowRSU2025-07-29——250,000—3,562,500

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
John Saich$1,425,000$0$00.0%
Thomas Mullin1,425,000000.0%
Michael Malatesta1,068,750000.0%
Martin Jackson2,137,500000.0%
Robert Ortenzio3,562,500000.0%
David Chernow3,562,500000.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Michael MalatestaRSU16,667—$247,505
Martin JacksonRSU33,334—495,009
Michael MalatestaRSU50,000—742,500
Thomas MullinRSU50,000—742,500
John SaichRSU50,000—742,500
David ChernowRSU55,555—824,992
Robert OrtenzioRSU55,556—825,007
Martin JacksonRSU61,333—910,795
Thomas MullinRSU66,667—990,005
John SaichRSU66,667—990,005
Michael MalatestaRSU75,000—1,113,750
Thomas MullinRSU100,000—1,485,000
John SaichRSU100,000—1,485,000
David ChernowRSU102,222—1,517,997
Robert OrtenzioRSU102,222—1,517,997
Martin JacksonRSU150,000—2,227,500
David ChernowRSU250,000—3,712,500
Robert OrtenzioRSU250,000—3,712,500
Director compensation
DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Daniel J. ThomasIndependent · Audit and Compliance · Compensation (Chair)$164,000$199,999$0$0$0$363,999
Katherine R. DavissonIndependent · Audit and Compliance · Compensation · Quality of Care and Patient Safety162,000199,999000361,999
James S. Ely IIIIndependent · Audit and Compliance (Chair) · Nominating/Governance158,500199,999000358,499
William H. FristIndependent · Audit and Compliance · Quality of Care and Patient Safety (Chair)116,508199,999000316,507
Parvinderjit S. KhanujaIndependent · Audit and Compliance · Quality of Care and Patient Safety113,000199,999000312,999
Marilyn B. TavennerIndependent · Nominating/Governance (Chair) · Quality of Care and Patient Safety100,600199,999000300,599
Russell L. CarsonIndependent · Lead Independent Director · Nominating/Governance90,400199,999000290,399
Thomas A. ScullyIndependent · Compensation85,900199,999000285,899
Robert A. OrtenzioEmployee director · Board Chair000000
David ChernowEmployee director000000

Board fee structure and ownership guideline

Annual cash retainer$72,000
Annual equity retainer$199,999
Per board meeting fee$3,000
Committee chair fees (audit / comp / nom-gov)4,000
Stock ownership guidelineDetails on the Company’s stock ownership requirements, which apply to the Company’s non-employee directors, are included in the Section titled “Director Compensation” under “Executive Compensation Discussion and Analysis” above.

Total cost of the board

ComponentFY2025
Cash retainers and fees$990,908
Equity awards (grant-date value)$1,599,992
All other compensation$0
Total cost of the board$2,590,900

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

Peer group, and who names Select Medical as a peer

Companies that benchmark against SEM

19 companies name SEM as a compensation peer

The list of companies that name SEM as a peer is temporarily unavailable — recheck shortly.

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Select Medical Holdings Corp2025Thomas Mullin$618,000$1,425,000$0$939,360$3,042,527

Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

Say-on-pay history and pay ratio
Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-04-23110,664,2083,339,56733,63097.07%Passed
20252025-04-24108,011,56511,314,550594,31390.07%Passed
20242024-04-26106,777,98014,125,94642,83288.29%Passed
20232023-04-27107,662,51114,902,617225,84287.68%Passed
20222022-04-28108,422,68216,580,50844,97486.7%Passed
20212021-04-29120,908,1054,981,174376,50995.76%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.

Say-on-pay — history, company’s computation

Meeting yearMeeting dateApproval — company’s computation
20262026-04-2397.07%a
20252025-04-2490.07%b
20242024-04-2688.29%c

a. Approved under the standard stated in the filing — “With respect to Proposal 1, because directors are elected by a majority vote, meaning the votes validly cast for such nominee's election exceeds the votes validly cast against such nominee's election in such election, in uncontested elections, abstentions and broker non-votes will not be counted as a vote cast either for or against such director's election.”.

b. Approved under the standard stated in the filing — “Because Proposals 3, 4, 5 and 6 require for approval the affirmative vote of a majority of the shares present online or represented by proxy at the Annual Meeting and entitled to vote, abstentions and broker non-votes will have the same effect as negative votes against these proposals.”.

c. Approved under the standard stated in the filing — “Because Proposals 2, 3, 4 and 6 require for approval the affirmative vote of a majority of the shares present online or represented by proxy at the Annual Meeting and entitled to vote any abstentions will have the effect of votes against and any broker non-votes will not have any effect on these proposals.”.

Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

CEO pay ratio

Ratio (CEO : median employee)41 : 1
CEO total compensation$3,042,527
Median employee compensation$73,571
Insider trades since the proxy

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
William H. FristDirector2026-04-28A1,094$16$17,996CommonForm 4 ↗
David ChernowDirector2026-04-30D22,58616370,636CommonForm 4 ↗
Robert G. Breighner JRSenior Vice President2026-05-04D1,3301621,865CommonForm 4 ↗
Martin JacksonExecutive Vice President2026-06-30D2,63400Common, indirectForm 4 ↗
John F. DugganExecutive Vice President2026-06-30D194,71000CommonForm 4 ↗
Robert G. Breighner JRSenior Vice President2026-06-30D18,36217302,973CommonForm 4 ↗
Parvinderjit S. KhanujaDirector2026-06-30D79,124171,305,546CommonForm 4 ↗
Katherine R. DavissonDirector2026-06-30D60,03517990,578CommonForm 4 ↗
Thomas A. ScullyDirector2026-06-30D103,424171,706,496CommonForm 4 ↗
Russell L. CarsonDirector2026-06-30D610,03500CommonForm 4 ↗
Robert A. OrtenzioDirector2026-06-30D280,41500Common, indirectForm 4 ↗
Robert A. OrtenzioDirector2026-06-30D280,41500Common, indirectForm 4 ↗
Robert A. OrtenzioDirector2026-06-30D1,000,00000Common, indirectForm 4 ↗
Robert A. OrtenzioDirector2026-06-30D7,081,78800CommonForm 4 ↗
Brian R. RusignuoloExecutive Vice President2026-06-30D361,37000CommonForm 4 ↗
Christopher WeiglSenior Vice President2026-06-30D1,8721730,888CommonForm 4 ↗
David ChernowDirector2026-06-30D113,421171,871,447CommonForm 4 ↗
David ChernowDirector2026-06-30D656,8231710,837,580CommonForm 4 ↗
David ChernowDirector2026-06-30D100,00000CommonForm 4 ↗
Robert A. OrtenzioDirector2026-06-30D280,41500Common, indirectForm 4 ↗
Robert G. Breighner JRSenior Vice President2026-06-30D16,33400CommonForm 4 ↗
Christopher WeiglSenior Vice President2026-06-30D12,38217204,303CommonForm 4 ↗
Christopher WeiglSenior Vice President2026-06-30D40,00000CommonForm 4 ↗
Martin JacksonExecutive Vice President2026-06-30D1,383,42100CommonForm 4 ↗
Thomas MullinChief Executive Officer2026-06-30D391,70900CommonForm 4 ↗
Robert A. OrtenzioDirector2026-06-30D279,000174,603,500Common, indirectForm 4 ↗
Michael MalatestaChief Financial Officer2026-06-30D238,05700CommonForm 4 ↗
James S. Ely IIIDirector2026-06-30D161,674172,667,621CommonForm 4 ↗
Daniel J. ThomasDirector2026-06-30D80,035171,320,578CommonForm 4 ↗
Marilyn B. TavennerDirector2026-06-30D36,03517594,578CommonForm 4 ↗
John SaichPresident2026-06-30D736,41200CommonForm 4 ↗
Martin JacksonExecutive Vice President2026-06-30D2,63400Common, indirectForm 4 ↗
Martin JacksonExecutive Vice President2026-06-30D2,63400Common, indirectForm 4 ↗
Martin JacksonExecutive Vice President2026-06-30D2,63400Common, indirectForm 4 ↗
John Tyler HollenbachExecutive Vice President2026-06-30D135,08400CommonForm 4 ↗
William H. FristDirector2026-06-30D306,266175,053,389CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

Sources (66 citations)

Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.

  • Section 01, Robert Ortenzio. DEF 14A, filed 2026-03-04. Section “Summary Compensation Table”. As printed: 6,615,969. View filing ↗
  • Section 01, David Chernow. DEF 14A, filed 2026-03-04. Section “Summary Compensation Table”. As printed: 6,542,405. View filing ↗
  • Section 01, Martin Jackson. DEF 14A, filed 2026-03-04. Section “Summary Compensation Table”. As printed: 4,011,191. View filing ↗
  • Section 01, Thomas Mullin. DEF 14A, filed 2026-03-04. Section “Summary Compensation Table” · page 22. As printed: 3,042,527. View filing ↗
  • Section 01, John Saich. DEF 14A, filed 2026-03-04. Section “Summary Compensation Table”. As printed: 3,035,527. View filing ↗
  • Section 01, Michael Malatesta. DEF 14A, filed 2026-03-04. Section “Summary Compensation Table”. As printed: 2,581,347. View filing ↗
  • Section 03, John Saich RSU. DEF 14A, filed 2026-03-04. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Thomas Mullin RSU. DEF 14A, filed 2026-03-04. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Michael Malatesta RSU. DEF 14A, filed 2026-03-04. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Martin Jackson RSU. DEF 14A, filed 2026-03-04. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Robert Ortenzio RSU. DEF 14A, filed 2026-03-04. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, David Chernow RSU. DEF 14A, filed 2026-03-04. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 07, pay ratio. DEF 14A, filed 2026-03-04. Section “CEO Pay Ratio”. As printed: 41 : 1. View filing ↗
  • Section 08, Daniel J. Thomas. DEF 14A, filed 2026-03-04. Section “Director Compensation”. As printed: 363,999. View filing ↗
  • Section 08, Katherine R. Davisson. DEF 14A, filed 2026-03-04. Section “Director Compensation”. As printed: 361,999. View filing ↗
  • Section 08, James S. Ely III. DEF 14A, filed 2026-03-04. Section “Director Compensation”. As printed: 358,499. View filing ↗
  • Section 08, William H. Frist. DEF 14A, filed 2026-03-04. Section “Director Compensation”. As printed: 316,507. View filing ↗
  • Section 08, Parvinderjit S. Khanuja. DEF 14A, filed 2026-03-04. Section “Director Compensation”. As printed: 312,999. View filing ↗
  • Section 08, Marilyn B. Tavenner. DEF 14A, filed 2026-03-04. Section “Director Compensation”. As printed: 300,599. View filing ↗
  • Section 08, Russell L. Carson. DEF 14A, filed 2026-03-04. Section “Director Compensation”. As printed: 290,399. View filing ↗
  • Section 08, Thomas A. Scully. DEF 14A, filed 2026-03-04. Section “Director Compensation”. As printed: 285,899. View filing ↗
  • Section 08, Robert A. Ortenzio. DEF 14A, filed 2026-03-04. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 08, David Chernow. DEF 14A, filed 2026-03-04. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 02, William H. Frist 2026-04-28. Form 4, filed 2026-04-29. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, David Chernow 2026-04-30. Form 4, filed 2026-05-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Robert G. Breighner JR 2026-05-04. Form 4, filed 2026-05-05. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Martin Jackson 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, John F. Duggan 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Robert G. Breighner JR 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Parvinderjit S. Khanuja 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Katherine R. Davisson 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Thomas A. Scully 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Russell L. Carson 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Robert A. Ortenzio 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Robert A. Ortenzio 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Robert A. Ortenzio 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Robert A. Ortenzio 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Brian R. Rusignuolo 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Christopher Weigl 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, David Chernow 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, David Chernow 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, David Chernow 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Robert A. Ortenzio 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Robert G. Breighner JR 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Christopher Weigl 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Christopher Weigl 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Martin Jackson 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Thomas Mullin 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Robert A. Ortenzio 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Michael Malatesta 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, James S. Ely III 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Daniel J. Thomas 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Marilyn B. Tavenner 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, John Saich 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Martin Jackson 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Martin Jackson 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Martin Jackson 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, John Tyler Hollenbach 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, William H. Frist 2026-06-30. Form 4, filed 2026-07-01. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 06, 2026 vote. Form 8-K, filed 2026-04-24. Item 5.07 · say-on-pay result. As reported: 97.07% (votes for as printed: 110,664,208). View filing ↗
  • Section 06, 2025 vote. Form 8-K, filed 2025-04-29. Item 5.07 · say-on-pay result. As reported: 90.07% (votes for as printed: 108,011,565). View filing ↗
  • Section 06, 2024 vote. Form 8-K, filed 2024-04-26. Item 5.07 · say-on-pay result. As reported: 88.29% (votes for as printed: 106,777,980). View filing ↗
  • Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
  • Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
  • Section 09b board cost (computed). Computed. Cash 990,908 + equity 1,599,992 + all other 0 = 2,590,900, summed across the director compensation table rows.
  • Select Medical Holdings Corp (subject), Section 10b CEO total. DEF 14A, filed 2026-03-04. CEO total compensation as printed in Select Medical Holdings Corp's own proxy. As printed: 3,042,527. View filing ↗
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