Companies CorMedix Inc.
CorMedix (CRMD): executive pay, fiscal 2025
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CEO pay, last three years
- $2,459,342FY2023
- $2,359,908FY2024
- $6,101,176FY2025
CEO total pay was $6,101,176 in fiscal 2025, up from $2,359,908 in fiscal 2024.
FY2025: salary $684,353 · bonus $0 · stock awards $4,492,500 · option awards $0
Executives and directors
Frequently asked questions
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 officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Joseph Todisco | $684,353 | $0 | $4,492,500 | $0 | $865,072 | $0 | $59,251 | $6,101,176 |
| Chief Executive Officer | ||||||||
| Beth Zelnick Kaufman | 497,596 | 0 | 2,784,318 | 0 | 435,941 | 0 | 48,055 | 3,765,910 |
| Executive Vice President, Chief Legal/Compliance Officer & Corp. Secretary | ||||||||
| Elizabeth Hurlburt | 479,640 | 0 | 2,784,318 | 0 | 420,527 | 0 | 59,203 | 3,743,688 |
| Executive Vice President, Chief Operating 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 officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Joseph Todisco | $6,101,176 | $2,359,908 | $2,459,342 | ↑ +3,741,268 |
| Beth Zelnick Kaufman | 3,765,910 | 714,352 | — | ↑ +3,051,558 |
| Elizabeth Hurlburt | 3,743,688 | 1,135,365 | — | ↑ +2,608,323 |
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
Compensation of our executive officers is designed to enable us to attract and retain talented and experienced senior executives to lead our Company successfully in a competitive environment, consistent with our strategy, competitive practice, sound corporate governance principles, and our Company’s and our stockholders’ interests.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Frederic W. Cook & Co. |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Elizabeth Hurlburt | RSU | 2025-08-29 | — | — | 69,686 | — | — |
| Joseph Todisco | RSU | 2025-01-17 | — | — | 187,500 | — | — |
| Elizabeth Hurlburt | RSU | 2025-01-02 | — | — | 87,500 | — | — |
| Beth Zelnick Kaufman | RSU | 2025-08-29 | — | — | 69,686 | — | — |
| Beth Zelnick Kaufman | RSU | 2025-01-02 | — | — | 87,500 | — | — |
Vehicle mix — grant-date fair value by award type
Grant-level vehicle detail not disclosed.
% 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
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Beth Zelnick Kaufman | PSU | 25,000 | — | $290,750 |
| Elizabeth Hurlburt | Option | 31,250 | 4.43 | — |
| Elizabeth Hurlburt | RSU | 36,006 | — | 418,753 |
| Beth Zelnick Kaufman | RSU | 36,006 | — | 418,753 |
| Elizabeth Hurlburt | Option | 50,000 | 3.47 | — |
| Elizabeth Hurlburt | PSU | 58,333 | — | 678,417 |
| Beth Zelnick Kaufman | PSU | 58,333 | — | 678,417 |
| Joseph Todisco | RSU | 77,156 | — | 897,327 |
| Beth Zelnick Kaufman | Option | 100,000 | 3.3 | — |
| Joseph Todisco | Option | 100,000 | 4.43 | — |
| Beth Zelnick Kaufman | PSU | 117,890 | — | 1,371,061 |
| Joseph Todisco | PSU | 125,000 | — | 1,453,750 |
| Joseph Todisco | Option | 125,000 | 3.38 | — |
| Joseph Todisco | Option | 133,334 | 3.47 | — |
| Elizabeth Hurlburt | PSU | 142,890 | — | 1,661,811 |
| Joseph Todisco | PSU | 207,292 | — | 2,410,806 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Myron KaplanIndependent · Lead Independent Director · Nominating/Governance (Chair) · Compensation | $129,000 | $304,250 | $0 | — | $0 | $433,250 |
| Steven LefkowitzIndependent · Compensation · Audit (Chair) | 93,000 | 304,250 | 0 | — | 0 | 397,250 |
| Janet DillioneIndependent · Nominating/Governance · Compensation (Chair) | 83,000 | 304,250 | 0 | — | 0 | 387,250 |
| Alan W. DuntonIndependent · Audit · Compensation · Remuneration (Chair) | 75,000 | 304,250 | 0 | — | 0 | 379,250 |
| Robert StewartIndependent · Nominating/Governance · Compensation | 75,000 | 304,250 | 0 | — | 0 | 379,250 |
| Gregory DuncanIndependent · Nominating/Governance · Audit | 75,000 | 304,250 | 0 | — | 0 | 379,250 |
| Joseph TodiscoEmployee director · Board Chair | — | — | — | — | — | 0 |
Board fee structure and ownership guideline
| Annual cash retainer | $55,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 23,000 / 23,000 / 14,000 |
| Stock ownership guideline | $100,000 |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $530,000 |
| Equity awards (grant-date value) | $1,825,500 |
| All other compensation | $0 |
| Total cost of the board | $2,355,500 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names CorMedix as a peer
Companies that benchmark against CRMD
2 companies name CRMD as a compensation peer
- LEXICON PHARMACEUTICALS, INC.LXRXFY2025
- SIGA TECHNOLOGIES INCSIGAFY2025
Each company listed discloses CRMD in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named CRMD in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
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.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | CorMedix Inc. | 2025 | Joseph Todisco | $684,353 | $4,492,500 | $0 | $865,072 | $6,101,176 |
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 year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-23 | 29,298,076 | 9,835,841 | 1,842,250 | 74.87% | Passed |
| 2025 | 2025-06-24 | 16,086,287 | 1,999,311 | 360,596 | 88.95% | Passed |
| 2024 | 2024-11-21 | 17,510,538 | 2,400,036 | 231,081 | 87.95% | Passed |
| 2023 | 2023-10-26 | 12,781,884 | 4,234,480 | 123,537 | 75.12% | Passed |
| 2022 | 2022-10-13 | 8,041,682 | 2,406,462 | 123,127 | 76.97% | Passed |
| 2021 | 2021-12-09 | 12,021,602 | 1,383,432 | 169,662 | 89.68% | 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 year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2026 | 2026-06-23 | 74.87%a |
| 2025 | 2025-06-24 | 88.95%b |
| 2024 | 2024-11-21 | 87.95%c |
a. Voting standard not stated in the filing.
b. Voting standard not stated in the filing.
c. 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.
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (21 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, Joseph Todisco. DEF 14A, filed 2026-04-29. Section “Executive Compensation”. As printed: 6,101,176. View filing ↗
- Section 01, Beth Zelnick Kaufman. DEF 14A, filed 2026-04-29. Section “Executive Compensation”. As printed: 3,765,910. View filing ↗
- Section 01, Elizabeth Hurlburt. DEF 14A, filed 2026-04-29. Section “Executive Compensation”. As printed: 3,743,688. View filing ↗
- Section 03, Elizabeth Hurlburt RSU. DEF 14A, filed 2026-04-29. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Joseph Todisco RSU. DEF 14A, filed 2026-04-29. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Elizabeth Hurlburt RSU. DEF 14A, filed 2026-04-29. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Beth Zelnick Kaufman RSU. DEF 14A, filed 2026-04-29. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Beth Zelnick Kaufman RSU. DEF 14A, filed 2026-04-29. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 08, Myron Kaplan. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: 433,250. View filing ↗
- Section 08, Steven Lefkowitz. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: 397,250. View filing ↗
- Section 08, Janet Dillione. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: 387,250. View filing ↗
- Section 08, Alan W. Dunton. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: 379,250. View filing ↗
- Section 08, Robert Stewart. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: 379,250. View filing ↗
- Section 08, Gregory Duncan. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: 379,250. View filing ↗
- Section 08, Joseph Todisco. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-06-24. Item 5.07 · say-on-pay result. As reported: 74.87% (votes for as printed: 29,298,076). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-06-25. Item 5.07 · say-on-pay result. As reported: 88.95% (votes for as printed: 16,086,287). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-11-25. Item 5.07 · say-on-pay result. As reported: 87.95% (votes for as printed: 17,510,538). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 09b board cost (computed). Computed. Cash 530,000 + equity 1,825,500 + all other 0 = 2,355,500, summed across the director compensation table rows.
- CorMedix Inc. (subject), Section 10b CEO total. DEF 14A, filed 2026-04-29. CEO total compensation as printed in CorMedix Inc.'s own proxy. As printed: 6,101,176. View filing ↗