CompBrief BY VELARION

Companies Ardent Health, Inc.

Ardent Health (ARDT): executive pay, fiscal 2025

Free brief. Every figure links to the company’s own filing.

Email me Ardent Health, Inc.’s executive pay brief as a PDF

It arrives in about 2 minutes, with every figure cited to its filing.

After the PDF, up to three short notes on the deeper reports for this company. Reply “unsubscribe” to any of them, any time.

CEO total pay$6,090,004CEO Marty Bonick · source
Say-on-pay support99.67%Latest vote · source
CEO vs. named peers40th pct.Of 10 peer CEOs
CEO pay ratio107:1To the median employee · source

CEO pay, last three years

  • $2,209,277FY2023
  • $6,939,257FY2024
  • $6,090,004FY2025

CEO total pay was $6,090,004 in fiscal 2025, down from $6,939,257 in fiscal 2024.

FY2025: salary $1,076,000 · bonus $0 · stock awards $5,000,004 · option awards $0

Order ARDT

Add the email the receipt and the PDF go to, then press the report you want. Each button opens its own card payment on Stripe.

Receipt, invoice, and report delivery. Guest checkout, no account required, secure payment by Stripe.

Executives and directors

Full detail

Every table from the filing. Open any section.

Summary compensation table
Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Marty Bonick$1,076,000$0$5,000,004$0$0$0$14,000$6,090,004
President and Chief Executive Officer
Alfred Lumsdaine650,23550,0002,000,01000014,0002,714,245
Chief Financial Officer
David Caspers511,541551,3861,325,02100059,6222,447,570
Chief Operating Officer
David Schultz389,86601,000,012000674,2412,064,119
Former President, Hospital Operations
Ethan Chernin612,46623,175775,00100073,6721,484,314
Former President, Health Services
Stephen Petrovich547,05135,190825,01000014,0001,421,251
Executive Vice President and General Counsel

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
Marty Bonick$6,090,004$6,939,257$2,209,277↓ −849,253
Alfred Lumsdaine2,714,2453,427,9141,317,434↓ −713,669
David Caspers2,447,570———
David Schultz2,064,1193,015,858725,607↓ −951,739
Ethan Chernin1,484,3141,492,519—↓ −8,205
Stephen Petrovich1,421,2512,037,623958,203↓ −616,372

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 executive compensation program is designed to attract, motivate, and retain a highly experienced team of executives, supporting the Company's business objectives.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantWTW
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
Equity grants and outstanding awards

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Stephen PetrovichPSU2025-04-0119,75939,518—79,036$536,259
Marty BonickPSU2025-04-01119,750239,499—478,9983,250,001
David SchultzPSU2025-04-0123,95147,901—95,802650,017
Marty BonickRSU2025-04-01——134,927—1,750,003
Ethan CherninPSU2025-04-0118,56137,122—74,244503,746
David SchultzRSU2025-04-01——26,985—349,995
David CaspersRSU2025-04-01——7,711—100,012
Ethan CherninRSU2025-04-01——20,914—271,255
David CaspersPSU2025-04-0129,33958,678—117,356796,260
David CaspersRSU2025-04-01——33,057—428,749
Alfred LumsdaineRSU2025-04-01——53,971—700,004
Alfred LumsdainePSU2025-04-0147,90095,800—191,6001,300,006
Stephen PetrovichRSU2025-04-01——22,263—288,751

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Stephen Petrovich$288,751$536,259$065.0%
Marty Bonick1,750,0033,250,001065.0%
David Schultz349,995650,017065.0%
Ethan Chernin271,255503,746065.0%
David Caspers528,761796,260060.1%
Alfred Lumsdaine700,0041,300,006065.0%

% 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
David SchultzPSU3,363—$29,695
Alfred LumsdaineRSU4,649—41,051
Stephen PetrovichRSU6,466—57,095
Ethan CherninRSU10,937—95,574
Stephen PetrovichRSU11,723—103,514
David SchultzPSU15,545—137,262
Alfred LumsdaineRSU20,615—182,030
Ethan CherninRSU20,914—184,671
Stephen PetrovichRSU22,195—195,982
Stephen PetrovichRSU22,263—196,582
Alfred LumsdaineRSU27,828—245,721
Alfred LumsdaineRSU29,295—258,675
Ethan CherninPSU30,470—269,050
Stephen PetrovichPSU32,656—288,352
David CaspersRSU33,057—291,893
Ethan CherninPSU37,122—327,787
Stephen PetrovichPSU39,518—348,944
Alfred LumsdaineRSU53,971—476,564
Alfred LumsdainePSU57,428—507,089
David CaspersPSU58,678—518,127
Marty BonickRSU65,921—582,082
Alfred LumsdainePSU95,800—845,914
Marty BonickRSU134,927—1,191,405
Marty BonickPSU183,636—1,621,506
Marty BonickPSU239,499—2,114,776
Stephen PetrovichRSU259,266—2,289,319
Marty BonickRSU439,434—3,880,202
Director compensation
DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Mark SotirIndependent · Board Chair$225,000$169,716———$394,716
William GoodyearIndependent · Audit (Chair) · Nominating and Corporate Governance137,500169,716———307,216
Edmondo RobinsonIndependent · Audit · Quality (Chair) · Patient Safety and Quality of Care (Chair)135,000169,716———304,716
Ellen HavdalaIndependent · Compensation (Chair) · Quality · Patient Safety and Quality of Care130,000169,716———299,716
Peter BynoeIndependent · Nominating and Corporate Governance (Chair) · Compensation125,000169,716———294,716
Rob WebbIndependent · Audit · Quality125,000169,716———294,716
Suzanne CampionIndependent · Nominating and Corporate Governance · Compensation117,500169,716———287,216
Rahul SenIndependent · Compensation117,500169,716———287,216
Robert DeMichieiIndependent · Audit · Nominating and Corporate Governance · Compensation · Newly elected91,875129,136———221,011
Marty BonickEmployee director—————0
Peter BulgarelliNot independent · Compensation · Quality · Newly elected00———0

Board fee structure and ownership guideline

Annual cash retainer$100,000
Annual equity retainer$185,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)30,000 / 20,000 / 15,000
Stock ownership guideline$500,000

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,204,375
Equity awards (grant-date value)$1,486,864
All other compensation$0
Total cost of the board$2,691,239

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

Peer group, and who names Ardent Health as a peer

Companies that benchmark against ARDT

No companies currently name ARDT as a compensation peer in their most recent disclosure.

This is the complete answer, not a partial one — the list is never padded.

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

Peer reciprocity

Of the companies Ardent Health, Inc. names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer’s own current proxy has been read — each mark is cited in the register to that peer’s filing. A dash means the peer’s current proxy was read and names no reciprocal group including Ardent Health, Inc..

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
1DaVita Inc.2025Javier Rodriguez$1,500,000$11,442,481$2,699,982$2,089,491$18,210,597
2Universal Health Services, Inc.2025Marc Miller1,430,7699,999,90404,292,30716,148,937
3Quest Diagnostics Incorporated2025James Davis1,250,0008,762,8612,999,8732,205,84415,498,479
4Encompass Health Corp.2025Mark Tarr1,100,0005,285,3811,165,3762,581,52510,297,258
5Ensign Group, Inc.2025Jim Williamson1,227,1163,525,195008,952,500
6Acadia Healthcare Company, Inc.2025Christopher Hunter1,061,0005,712,01201,135,2707,909,463
7Ardent Health, Inc.2025Marty Bonick1,076,0005,000,004006,090,004
8Brookdale Senior Living Inc.2025Nikolas Stengle229,3104,283,9680403,5715,307,655
9Community Health Systems, Inc.2025Kevin Hammons927,194812,700204,3001,746,6424,772,869
10Surgery Partners, Inc.2022G Baumann800,0312,400,02801,008,0004,234,415
11Select Medical Holdings Corp.2025Thomas Mullin618,0001,425,0000939,3603,042,527

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.

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Ardent Health, Inc.not disclosednot disclosednot disclosedWTW
Acadia Healthcare Company, Inc.85.6%PSU 50 · RSU 50NoWTW
Brookdale Senior Living Inc.125.7%not disclosedNoF.W. Cook & Co., Inc.
Community Health Systems, Inc.not disclosedPSU 75 · Option 25not disclosedMercer
DaVita Inc.93%PSU 60 · RSU 20 · Options 20Yes — Relative TSR v. S&P Health Care Services Select Industry IndexCompensia
Encompass Health Corp.173.8%PSU 60 · RSU 20 · Options 20NoPay Governance
Ensign Group, Inc.88%PSU 50 · RSU 50Yes — 3Yr Relative Change in TSR Compared to Peersnot disclosed
Quest Diagnostics Incorporated113.9%PSU 50 · RSU 25 · Options 25Yes — Relative TSRSemler Brossy
Select Medical Holdings Corp.190%RSU 100not disclosednot disclosed
Surgery Partners, Inc.not disclosedPSU 50 · RSU 50not disclosedWillis Towers Watson
Universal Health Services, Inc.200%RSU 50 · PSU 50NoFW Cook

Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.

Say-on-pay history and pay ratio
Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-2091,093,535300,746184,47599.67%Passed
20252025-05-21101,457,0241,202,587306,16998.83%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
20262026-05-2099.67%a
20252025-05-2198.83%b

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

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)107 : 1
CEO total compensation$6,090,004
Median employee compensation$56,682
Insider trades since the proxy

No insider equity transactions reported since the proxy statement.

Sources (55 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, Marty Bonick. DEF 14A, filed 2026-04-08. Section “Executive Compensation”. As printed: 6,090,004. View filing ↗
  • Section 01, Alfred Lumsdaine. DEF 14A, filed 2026-04-08. Section “Executive Compensation”. As printed: 2,714,245. View filing ↗
  • Section 01, David Caspers. DEF 14A, filed 2026-04-08. Section “Executive Compensation”. As printed: 2,447,570. View filing ↗
  • Section 01, David Schultz. DEF 14A, filed 2026-04-08. Section “Executive Compensation”. As printed: 2,064,119. View filing ↗
  • Section 01, Ethan Chernin. DEF 14A, filed 2026-04-08. Section “Executive Compensation”. As printed: 1,484,314. View filing ↗
  • Section 01, Stephen Petrovich. DEF 14A, filed 2026-04-08. Section “Executive Compensation”. As printed: 1,421,251. View filing ↗
  • Section 03, Stephen Petrovich PSU. DEF 14A, filed 2026-04-08. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Marty Bonick PSU. DEF 14A, filed 2026-04-08. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, David Schultz PSU. DEF 14A, filed 2026-04-08. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Marty Bonick RSU. DEF 14A, filed 2026-04-08. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Ethan Chernin PSU. DEF 14A, filed 2026-04-08. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, David Schultz RSU. DEF 14A, filed 2026-04-08. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, David Caspers RSU. DEF 14A, filed 2026-04-08. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Ethan Chernin RSU. DEF 14A, filed 2026-04-08. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, David Caspers PSU. DEF 14A, filed 2026-04-08. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, David Caspers RSU. DEF 14A, filed 2026-04-08. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Alfred Lumsdaine RSU. DEF 14A, filed 2026-04-08. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Alfred Lumsdaine PSU. DEF 14A, filed 2026-04-08. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Stephen Petrovich RSU. DEF 14A, filed 2026-04-08. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 07, pay ratio. DEF 14A, filed 2026-04-08. Section “CEO Pay Ratio”. As printed: 107 : 1. View filing ↗
  • Section 08, Mark Sotir. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 394,716. View filing ↗
  • Section 08, William Goodyear. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 307,216. View filing ↗
  • Section 08, Edmondo Robinson. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 304,716. View filing ↗
  • Section 08, Ellen Havdala. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 299,716. View filing ↗
  • Section 08, Peter Bynoe. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 294,716. View filing ↗
  • Section 08, Rob Webb. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 294,716. View filing ↗
  • Section 08, Suzanne Campion. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 287,216. View filing ↗
  • Section 08, Rahul Sen. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 287,216. View filing ↗
  • Section 08, Robert DeMichiei. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 221,011. View filing ↗
  • Section 08, Marty Bonick. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 08, Peter Bulgarelli. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 06, 2026 vote. Form 8-K, filed 2026-05-26. Item 5.07 · say-on-pay result. As reported: 99.67% (votes for as printed: 91,093,535). View filing ↗
  • Section 06, 2025 vote. Form 8-K, filed 2025-05-23. Item 5.07 · say-on-pay result. As reported: 98.83% (votes for as printed: 101,457,024). 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 1,204,375 + equity 1,486,864 + all other 0 = 2,691,239, summed across the director compensation table rows.
  • DaVita Inc., Section 10b CEO total. DEF 14A, filed 2026-04-22. CEO total compensation as printed in DaVita Inc.'s own proxy. As printed: 18,210,597. View filing ↗
  • Universal Health Services, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-09. CEO total compensation as printed in Universal Health Services, Inc.'s own proxy. As printed: 16,148,937. View filing ↗
  • Quest Diagnostics Incorporated, Section 10b CEO total. DEF 14A, filed 2026-04-06. CEO total compensation as printed in Quest Diagnostics Incorporated's own proxy. As printed: 15,498,479. View filing ↗
  • Encompass Health Corp., Section 10b CEO total. DEF 14A, filed 2026-04-07. CEO total compensation as printed in Encompass Health Corp.'s own proxy. As printed: 10,297,258. View filing ↗
  • Ensign Group, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-10. CEO total compensation as printed in Ensign Group, Inc.'s own proxy. As printed: 8,952,500. View filing ↗
  • Acadia Healthcare Company, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-25. CEO total compensation as printed in Acadia Healthcare Company, Inc.'s own proxy. As printed: 7,909,463. View filing ↗
  • Ardent Health, Inc. (subject), Section 10b CEO total. DEF 14A, filed 2026-04-08. CEO total compensation as printed in Ardent Health, Inc.'s own proxy. As printed: 6,090,004. View filing ↗
  • Brookdale Senior Living Inc., Section 10b CEO total. DEF 14A, filed 2026-04-30. CEO total compensation as printed in Brookdale Senior Living Inc.'s own proxy. As printed: 5,307,655. View filing ↗
  • Community Health Systems, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in Community Health Systems, Inc.'s own proxy. As printed: 4,772,869. View filing ↗
  • Surgery Partners, Inc., Section 10b CEO total. DEF 14A, filed 2023-03-30. CEO total compensation as printed in Surgery Partners, Inc.'s own proxy. As printed: 4,234,415. View filing ↗
  • Select Medical Holdings Corp., 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 ↗
  • Section 10a, Acadia Healthcare Company, Inc. reciprocity. DEF 14A. Acadia Healthcare Company, Inc.'s most recent proxy was read; its disclosed peer group does not include Ardent Health, Inc.. View filing ↗
  • Section 10a, Universal Health Services, Inc. reciprocity. DEF 14A. Universal Health Services, Inc.'s most recent proxy was read; its disclosed peer group does not include Ardent Health, Inc.. View filing ↗
  • Section 10a, Encompass Health Corp. reciprocity. DEF 14A. Encompass Health Corp.'s most recent proxy was read; its disclosed peer group does not include Ardent Health, Inc.. View filing ↗
  • Section 10a, Ensign Group, Inc. reciprocity. DEF 14A. Ensign Group, Inc.'s most recent proxy was read; its disclosed peer group does not include Ardent Health, Inc.. View filing ↗
  • Section 10a, Community Health Systems, Inc. reciprocity. DEF 14A. Community Health Systems, Inc.'s most recent proxy was read; its disclosed peer group does not include Ardent Health, Inc.. View filing ↗
  • Section 10a, Quest Diagnostics Incorporated reciprocity. DEF 14A. Quest Diagnostics Incorporated's most recent proxy was read; its disclosed peer group does not include Ardent Health, Inc.. View filing ↗
  • Section 10a, DaVita Inc. reciprocity. DEF 14A. DaVita Inc.'s most recent proxy was read; its disclosed peer group does not include Ardent Health, Inc.. View filing ↗
  • Section 10a, Brookdale Senior Living Inc. reciprocity. DEF 14A. Brookdale Senior Living Inc.'s most recent proxy was read; its disclosed peer group does not include Ardent Health, Inc.. View filing ↗
Get the full report — $1,500