Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-04-30

CareTrust REIT, Inc. (CTRE)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$10,002,522
David Sedgwick total, FY2025
57th
CEO pay percentile vs peers
54.93:1
CEO-to-median pay ratio
95.55%
Say-on-pay support, latest vote
Companies that benchmark against CTRE
18 companies name CTRE as a compensation peer

Each company listed discloses CTRE 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 CTRE in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
David Sedgwick$1,000,000$0$1,242,022$0$7,750,000$0$10,500$10,002,522
President and Chief Executive Officer
William Wagner600,0000575,13502,700,000010,5003,885,635
Chief Financial Officer and Treasurer
James Callister600,0000575,13502,700,000010,5003,885,635
Chief Investment Officer and Secretary

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 FY20242025
David Sedgwick$10,002,522$9,620,494$5,430,306+382,028
William Wagner3,885,6353,862,3992,663,956+23,236
James Callister3,885,6353,693,9342,466,405+191,701

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

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
James CallisterRSU2025-01-2821,168$575,135
David SedgwickRSU2025-01-2845,7131,242,022
William WagnerRSU2025-01-2821,168575,135
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
James Callister$575,135$0$00.0%
David Sedgwick1,242,022000.0%
William Wagner575,135000.0%

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

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
David SedgwickRSU43,170
David SedgwickRSU45,713
James CallisterPSU24,189874,674
William WagnerRSU15,828572,340
William WagnerRSU8,711314,990
James CallisterRSU16,126583,116
James CallisterPSU25,395918,283
William WagnerPSU23,742858,511
James CallisterRSU21,168
James CallisterRSU28,308
David SedgwickRSU14,390520,342
William WagnerPSU26,133944,969
David SedgwickPSU57,0572,063,181
David SedgwickRSU38,0381,375,454
William WagnerRSU28,308
William WagnerPSU28,3081,023,617
James CallisterPSU28,3081,023,617
David SedgwickPSU87,6573,169,677
David SedgwickRSU87,657
David SedgwickRSU57,057
William WagnerRSU21,168
William WagnerRSU23,742
William WagnerRSU26,133
James CallisterRSU24,189
James CallisterRSU25,395
David SedgwickPSU43,1701,561,027
James CallisterRSU8,465306,094
05

Incentive-plan design — the Compensation Discussion & Analysis

Our executive compensation program is designed to keep our senior leadership team focused on executing the Company's strategic plan, with the goal of delivering stockholder value over the long term.

CEO STI target (% of salary)250%
CEO LTI target (% of salary)
Independent consultantPearl Meyer
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-04-29186,720,0028,686,608203,71095.55%Passed
20252025-04-29125,160,68632,649,709119,98679.31%Passed
20242024-04-25104,322,2533,717,874117,68896.56%Passed
20232023-04-2779,392,6542,160,510127,12397.35%Passed
20222022-05-0375,079,4981,797,065121,86697.66%Passed
20212021-04-3074,880,634979,879126,03598.71%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
20262026-04-2995.55%a
20252025-04-2979.31%b
20242024-04-2596.56%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.

07

CEO pay ratio

Ratio (CEO : median employee)54.93 : 1
CEO total compensation$10,002,522
Median employee compensation$182,087
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Diana M. LaingIndependent · Board Chair · Nominating and Corporate Governance (Chair) · Sustainability & Corporate Responsibility (Chair)$240,000$145,000$0$0$0$385,000
Careina D. WilliamsIndependent · Audit (Chair) · Sustainability & Corporate Responsibility115,000145,000000260,000
Spencer G. PlumbIndependent · Nominating and Corporate Governance · Audit110,000145,000000255,000
Anne OlsonIndependent · Compensation (Chair) · Audit110,000145,000000255,000
David M. SedgwickEmployee director00000
Gregory K. StapleyNot independent · Partial-year service · Newly elected000000
09

Board fee structure and ownership guideline

Annual cash retainer$85,000
Annual equity retainer$145,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)30,000 / 25,000 / 25,000
Stock ownership guideline$510,000
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$575,000
Equity awards (grant-date value)$580,000
All other compensation$0
Total cost of the board$1,155,000

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

10

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.

10a

Peer reciprocity

Of the companies CareTrust REIT, 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 CareTrust REIT, Inc..

10b

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
1Medical Properties Trust, Inc.2025Edward Aldag, Jr.$1,250,000$10,745,109$0$3,125,000$15,898,816
2Omega Healthcare Investors, Inc.2025C. Taylor Pickett967,00011,248,49801,297,59314,020,475
3Healthcare Realty Trust Incorporated2025Peter Scott534,09110,336,83101,984,50012,855,422
4Agree Realty Corporation2025Joel Agree921,8086,923,60803,053,25310,957,876
5EPR Properties2025Gregory Silvers933,4007,266,1550010,901,683
6Healthpeak Properties, Inc.2025Scott Brinker825,0007,208,68801,986,15610,072,994
7CareTrust REIT, Inc.2025David Sedgwick1,000,0001,242,02207,750,00010,002,522
8NNN REIT, Inc.2025Stephen Horn975,0006,664,54402,069,4379,730,926
9Essential Properties Realty Trust, Inc.2025Peter Mavoides800,0006,853,00001,950,0009,634,000
10Sabra Health Care REIT, Inc.2025Richard Matros1,000,0005,026,72102,526,0008,552,721
11Acadia Healthcare Company, Inc.2025Christopher Hunter1,061,0005,712,01201,135,2707,909,463
12American Healthcare REIT, Inc.2025Danny Prosky800,0004,355,8290840,0006,685,948
13Four Corners Property Trust, Inc.2025William Lenehan724,6053,705,794005,701,486
14Terreno Realty Corporation2025W. Blake Baird800,0004,603,498005,413,998
15LTC Properties, Inc.2025Pamela Shelley-Kessler650,0002,250,00001,117,1884,027,538

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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
CareTrust REIT, Inc.310%PSU 50 · RSU 50Yes — Relative TSRPearl Meyer
Acadia Healthcare Company, Inc.85.6%PSU 50 · RSU 50NoWillis Towers Watson
Agree Realty Corporation329%PSU 70 · RSU 30NoMeridian
American Healthcare REIT, Inc.150%RSU 50 · PSU 50Yes — Total Shareholder Return (TSR) relative to performance peer groupFerguson Partners Consulting, L.P.
EPR Properties276.2%PSU 70 · RSU 30Yes — TSR vs. TSR of Triple-Net Peer GroupFerguson Partners Consulting L.P.
Essential Properties Realty Trust, Inc.163%LTIP Units 100Yes — Relative TSRFerguson Partners Consulting L.P.
Four Corners Property Trust, Inc.125%PSU 50 · RSU 50Yes — Absolute Total Stockholder Return (TSR)Semler Brossy
Healthcare Realty Trust Incorporated147%PSU 60 · RSU 40Yes — Relative TSR compared to the TSR peer groupFerguson Partners
Healthpeak Properties, Inc.127%PSU 60 · RSU 40Yes — 3-Year Relative TSR PerformanceFerguson Partners Consulting
LTC Properties, Inc.137.5%RSU 50 · PSU 50Yes — Absolute TSRFrederic W. Cook & Co., Inc.
Medical Properties Trust, Inc.300%not disclosedYes — TSRGressle & McGinley
NNN REIT, Inc.212.25%PSU 70 · RSU 30Yes — Three-year relative TSR compared to FTSE Nareit All Equity REITs IndexPearl Meyer
Omega Healthcare Investors, Inc.149.0%PSU 60 · RSU 40Yes — Relative TSR vs. FTSE Nareit Equity Health Care IndexFerguson Partners Consulting L.P.
Sabra Health Care REIT, Inc.168.4%PSU 65 · RSU 35YesFW Cook
Terreno Realty Corporationnot disclosedPSU 65 · RSU 35Nonot disclosed

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.

FAQ

Frequently asked questions

Who was the highest-paid executive at CareTrust REIT, Inc. in fiscal 2025?
The highest-paid executive at CareTrust REIT, Inc. in fiscal 2025 was David Sedgwick, President and Chief Executive Officer, with total compensation of $10,002,522.
How does CareTrust REIT, Inc.'s chief executive pay compare to its disclosed peer group?
CareTrust REIT, Inc.'s chief executive pay is at the 57th percentile of its disclosed peer group.
What is CareTrust REIT, Inc.'s CEO-to-median employee pay ratio?
The CEO-to-median employee pay ratio for CareTrust REIT, Inc. was 54.93:1.
How did shareholders vote on CareTrust REIT, Inc.'s executive compensation?
Shareholders approved CareTrust REIT, Inc.'s executive compensation with 95.55% support in the latest vote.
How much does CareTrust REIT, Inc. spend in total on board compensation for fiscal 2025?
CareTrust REIT, Inc. spent $1,155,000 in total on board compensation 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.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, David SedgwickDEF 14A2026-03-130001628280-26-017386Section “Summary Compensation Table — 2023 — 2025” · page 45. As printed: 10,002,522. Filing ↗machine: r3 · c21 · span 586779–586789
2Section 01, William WagnerDEF 14A2026-03-130001628280-26-017386Section “Summary Compensation Table — 2023 — 2025” · page 45. As printed: 3,885,635. Filing ↗machine: r6 · c21 · span 594041–594050
3Section 01, James CallisterDEF 14A2026-03-130001628280-26-017386Section “Summary Compensation Table — 2023 — 2025” · page 45. As printed: 3,885,635. Filing ↗machine: r9 · c21 · span 600909–600918
4Section 03, James Callister RSUDEF 14A2026-03-130001628280-26-017386Section “Grants Of Plan-Based Awards In 2025” · grants of plan-based awards table. Filing ↗machine: t121 · r11 · c14 · span 637192–637198
5Section 03, David Sedgwick RSUDEF 14A2026-03-130001628280-26-017386Section “Grants Of Plan-Based Awards In 2025” · grants of plan-based awards table. Filing ↗machine: t121 · r5 · c14 · span 623611–623617
6Section 03, William Wagner RSUDEF 14A2026-03-130001628280-26-017386Section “Grants Of Plan-Based Awards In 2025” · grants of plan-based awards table. Filing ↗machine: t121 · r8 · c14 · span 629787–629793
7Section 07, pay ratioDEF 14A2026-03-130001628280-26-017386Section “CEO Pay Ratio”. As printed: 54.93 : 1. Filing ↗machine: span 728996–729006
8Section 08, Diana M. LaingDEF 14A2026-03-130001628280-26-017386Section “Director Compensation”. As printed: 385,000. Filing ↗machine: t150 · r3 · c5 · span 877785–877792
9Section 08, Careina D. WilliamsDEF 14A2026-03-130001628280-26-017386Section “Director Compensation”. As printed: 260,000. Filing ↗machine: t150 · r6 · c5 · span 882162–882169
10Section 08, Spencer G. PlumbDEF 14A2026-03-130001628280-26-017386Section “Director Compensation”. As printed: 255,000. Filing ↗machine: t150 · r5 · c5 · span 880571–880578
11Section 08, Anne OlsonDEF 14A2026-03-130001628280-26-017386Section “Director Compensation”. As printed: 255,000. Filing ↗machine: t150 · r4 · c5 · span 879175–879182
12Section 08, David M. SedgwickDEF 14A2026-03-130001628280-26-017386Section “Director Compensation”. As printed: 0. Filing ↗
13Section 08, Gregory K. StapleyDEF 14A2026-03-130001628280-26-017386Section “Director Compensation”. As printed: 0. Filing ↗
14Section 06, 2026 voteForm 8-K2026-04-300001628280-26-028864Item 5.07 · say-on-pay result. As reported: 95.55% (votes for as printed: 186,720,002). Filing ↗
15Section 06, 2025 voteForm 8-K2025-04-300001628280-25-021060Item 5.07 · say-on-pay result. As reported: 79.31% (votes for as printed: 125,160,686). Filing ↗
16Section 06, 2024 voteForm 8-K2024-04-290001628280-24-018993Item 5.07 · say-on-pay result. As reported: 96.56% (votes for as printed: 104,322,253). Filing ↗
17Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
18Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
19Section 09b board cost (computed)ComputedcomputedCash 575,000 + equity 580,000 + all other 0 = 1,155,000, summed across the director compensation table rows.machine: formula: Σ = 1,155,000
20Medical Properties Trust, Inc., Section 10b CEO totalDEF 14A2026-04-130001193125-26-152971CEO total compensation as printed in Medical Properties Trust, Inc.'s own proxy. As printed: 15,898,816. Filing ↗machine: t152 · r3 · c14 · span 1825546–1825556
21Omega Healthcare Investors, Inc., Section 10b CEO totalDEF 14A2026-04-210001104659-26-045753CEO total compensation as printed in Omega Healthcare Investors, Inc.'s own proxy. As printed: 14,020,475. Filing ↗machine: t146 · r7 · c16 · span 1713701–1713711
22Healthcare Realty Trust Incorporated, Section 10b CEO totalDEF 14A2026-04-070001360604-26-000032CEO total compensation as printed in Healthcare Realty Trust Incorporated's own proxy. As printed: 12,855,422. Filing ↗machine: r2 · c21 · span 598192–598203
23Agree Realty Corporation, Section 10b CEO totalDEF 14A2026-04-020000917251-26-000031CEO total compensation as printed in Agree Realty Corporation's own proxy. As printed: 10,957,876. Filing ↗machine: t90 · r2 · c21 · span 720296–720306
24EPR Properties, Section 10b CEO totalDEF 14A2026-03-260001045450-26-000016CEO total compensation as printed in EPR Properties's own proxy. As printed: 10,901,683. Filing ↗machine: r3 · c45 · span 794198–794208
25Healthpeak Properties, Inc., Section 10b CEO totalDEF 14A2026-03-120001104659-26-027086CEO total compensation as printed in Healthpeak Properties, Inc.'s own proxy. As printed: 10,072,994. Filing ↗machine: t197 · r7 · c18 · span 1414974–1414984
26CareTrust REIT, Inc. (subject), Section 10b CEO totalDEF 14A2026-03-130001628280-26-017386CEO total compensation as printed in CareTrust REIT, Inc.'s own proxy. As printed: 10,002,522. Filing ↗machine: r3 · c21 · span 586779–586789
27NNN REIT, Inc., Section 10b CEO totalDEF 14A2026-03-230001193125-26-118585CEO total compensation as printed in NNN REIT, Inc.'s own proxy. As printed: 9,730,926. Filing ↗machine: t26 · r3 · c14 · span 998777–998786
28Essential Properties Realty Trust, Inc., Section 10b CEO totalDEF 14A2026-03-310001193125-26-134683CEO total compensation as printed in Essential Properties Realty Trust, Inc.'s own proxy. As printed: 9,634,000. Filing ↗
29Sabra Health Care REIT, Inc., Section 10b CEO totalDEF 14A2026-04-240001193125-26-175398CEO total compensation as printed in Sabra Health Care REIT, Inc.'s own proxy. As printed: 8,552,721. Filing ↗machine: span 570037–570046
30Acadia Healthcare Company, Inc., Section 10b CEO totalDEF 14A2026-03-250001140361-26-011130CEO total compensation as printed in Acadia Healthcare Company, Inc.'s own proxy. As printed: 7,909,463. Filing ↗machine: t159 · r1 · c27 · span 558066–558075
31American Healthcare REIT, Inc., Section 10b CEO totalDEF 14A2026-04-090001193125-26-149677CEO total compensation as printed in American Healthcare REIT, Inc.'s own proxy. As printed: 6,685,948. Filing ↗machine: r3 · c25 · span 905119–905128
32Four Corners Property Trust, Inc., Section 10b CEO totalDEF 14A2026-04-160001140361-26-015137CEO total compensation as printed in Four Corners Property Trust, Inc.'s own proxy. As printed: 5,701,486. Filing ↗machine: r2 · c18 · span 641840–641849
33Terreno Realty Corporation, Section 10b CEO totalDEF 14A2026-03-200001193125-26-116759CEO total compensation as printed in Terreno Realty Corporation's own proxy. As printed: 5,413,998. Filing ↗machine: t94 · r2 · c23 · span 345620–345629
34LTC Properties, Inc., Section 10b CEO totalDEF 14A2026-04-080001104659-26-040921CEO total compensation as printed in LTC Properties, Inc.'s own proxy. As printed: 4,027,538. Filing ↗machine: t203 · r7 · c20 · span 1255138–1255147
35Section 10a, Healthcare Realty Trust Incorporated reciprocityDEF 14A0001360604-26-000032Healthcare Realty Trust Incorporated names CareTrust REIT, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
36Section 10a, NNN REIT, Inc. reciprocityDEF 14A0001193125-26-118585NNN REIT, Inc.'s most recent proxy was read; its disclosed peer group does not include CareTrust REIT, Inc.. Filing ↗
37Section 10a, Agree Realty Corporation reciprocityDEF 14A0000917251-26-000031Agree Realty Corporation's most recent proxy was read; its disclosed peer group does not include CareTrust REIT, Inc.. Filing ↗
38Section 10a, Omega Healthcare Investors, Inc. reciprocityDEF 14A0001104659-26-045753Omega Healthcare Investors, Inc.'s most recent proxy was read; its disclosed peer group does not include CareTrust REIT, Inc.. Filing ↗
39Section 10a, Four Corners Property Trust, Inc. reciprocityDEF 14A0001140361-26-015137Four Corners Property Trust, Inc.'s most recent proxy was read; its disclosed peer group does not include CareTrust REIT, Inc.. Filing ↗
40Section 10a, Sabra Health Care REIT, Inc. reciprocityDEF 14A0001193125-26-175398Sabra Health Care REIT, Inc. names CareTrust REIT, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
41Section 10a, Medical Properties Trust, Inc. reciprocityDEF 14A0001193125-26-152971Medical Properties Trust, Inc.'s most recent proxy was read; its disclosed peer group does not include CareTrust REIT, Inc.. Filing ↗
42Section 10a, LTC Properties, Inc. reciprocityDEF 14A0001104659-26-040921LTC Properties, Inc. names CareTrust REIT, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
43Section 10a, Healthpeak Properties, Inc. reciprocityDEF 14A0001104659-26-027086Healthpeak Properties, Inc.'s most recent proxy was read; its disclosed peer group does not include CareTrust REIT, Inc.. Filing ↗
44Section 10a, Terreno Realty Corporation reciprocityDEF 14A0001193125-26-116759Terreno Realty Corporation names CareTrust REIT, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
45Section 10a, Essential Properties Realty Trust, Inc. reciprocityDEF 14A0001193125-26-134683Essential Properties Realty Trust, Inc.'s most recent proxy was read; its disclosed peer group does not include CareTrust REIT, Inc.. Filing ↗
46Section 10a, American Healthcare REIT, Inc. reciprocityDEF 14A0001193125-26-149677American Healthcare REIT, Inc. names CareTrust REIT, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
47Section 10a, Acadia Healthcare Company, Inc. reciprocityDEF 14A0001140361-26-011130Acadia Healthcare Company, Inc.'s most recent proxy was read; its disclosed peer group does not include CareTrust REIT, Inc.. Filing ↗
48Section 10a, EPR Properties reciprocityDEF 14A0001045450-26-000016EPR Properties names CareTrust REIT, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗