CEO Gerard Michel was paid $5,765,258 in fiscal year 2025, ↑ up 167.2% from fiscal year 2024 (SEC filing 0001628280-26-022948 ↗): 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.
$5,765,258 ↑ Gerard Michel total, FY2025 | — CEO pay percentile vs peers | — CEO-to-median pay ratio | 88.34% Say-on-pay support, latest vote |
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DCTH's next annual pay disclosure, estimated April 3, 2027.est. Filing ↗
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Gerard Michel | $635,707 | $0 | $0 | $4,774,551 | $355,000 | $0 | $0 | $5,765,258 |
| Chief Executive Officer | ||||||||
| Vojislav Vukovic | 488,000 | 0 | 0 | 1,383,395 | 184,000 | 0 | 0 | 2,055,395 |
| Chief Medical Officer | ||||||||
| Martha Rook | 460,833 | 0 | 0 | 1,383,395 | 180,000 | 0 | 0 | 2,024,228 |
| 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.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Gerard Michel | $5,765,258 | $2,157,414 | $2,520,314 | ↑ +3,607,844 |
| Vojislav Vukovic | 2,055,395 | 1,085,612 | — | ↑ +969,783 |
| Martha Rook | 2,024,228 | 933,097 | — | ↑ +1,091,131 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2025 total |
|---|---|---|
| Bridget Martell, M.A., M.D | Independent Director | $301,216 |
| Elizabeth Czerepak | Independent Director | $306,216 |
| Gil Aharon, Ph.D | Independent Director | $293,716 |
| John Sylvester | Chair of the Board | $337,635 |
| Steven Salamon | Independent Director | $306,216 |
No insider equity transactions reported since the proxy statement.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Martha Rook | Option | 48,594 | 4.18 | — |
| Martha Rook | Option | 78,471 | 16.25 | — |
| Gerard Michel | Option | 3,900 | 4.67 | — |
| Gerard Michel | Option | 23,435 | 7.25 | — |
| Gerard Michel | Option | 108,875 | 4.78 | — |
| Gerard Michel | Option | 270,826 | 16.25 | — |
| Vojislav Vukovic | Option | 25,116 | 5.93 | — |
| Vojislav Vukovic | Option | 36,284 | 4.78 | — |
| Vojislav Vukovic | Option | 78,471 | 16.25 | — |
The company emphasizes pay-for-performance by linking executive compensation to Company performance. The program is designed to attract and retain talented individuals while motivating them to perform consistent with the Company's business objectives, goals, and culture.
| CEO STI target (% of salary) | NaN% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Frederick W. Cook & Co., Inc. |
| Clawback policy | The Company has adopted an incentive compensation recoupment policy in compliance with Dodd-Frank Act and Nasdaq listing standards, covering cash or equity-based incentive compensation for the last three fiscal years in the event of a financial restatement. |
| Anti-hedging | The Company prohibits employees, executive officers, directors, and certain consultants from engaging in hedging or monetization transactions relating to Company securities. |
| Anti-pledging | The Company prohibits employees, executive officers, directors, and certain consultants from holding Company securities in a margin account or pledging them as collateral for a loan. |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-13 | 13,244,653 | 1,748,570 | 367,413 | 88.34% | Passed |
| 2025 | 2025-05-15 | 14,977,421 | 227,471 | 868,469 | 98.5% | Passed |
| 2024 | 2024-05-23 | 13,070,270 | 432,115 | 31,380 | 96.8% | Passed |
| 2023 | 2023-06-12 | 7,785,313 | 390,068 | 2,236 | 95.23% | Passed |
| 2022 | 2022-05-04 | 3,965,828 | 58,110 | 5,060 | 98.56% | Passed |
| 2021 | 2021-05-06 | 2,343,087 | 498,867 | 13,912 | 82.45% | 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.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-05-13 | 88.34%a |
| 2025 | 2025-05-15 | 98.5%b |
| 2024 | 2024-05-23 | 96.8%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.
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| John SylvesterIndependent · Board Chair · Compensation · Audit · Nominating and Corporate Governance | $101,419 | — | $236,216 | — | — | $337,635 |
| Elizabeth CzerepakIndependent · Audit (Chair) · Compensation | 70,000 | — | 236,216 | — | — | 306,216 |
| Steven SalamonIndependent · Audit · Compensation · Nominating and Corporate Governance | 70,000 | — | 236,216 | — | — | 306,216 |
| Bridget Martell, M.A., M.DIndependent · Audit · Compensation · Nominating and Corporate Governance | 65,000 | — | 236,216 | — | — | 301,216 |
| Gil Aharon, Ph.DIndependent · Compensation · Nominating and Corporate Governance | 57,500 | — | 236,216 | — | — | 293,716 |
| Gerard MichelEmployee director | — | — | — | — | — | 0 |
| Annual cash retainer | $50,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 15,000 / 10,000 |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $363,919 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $0 |
| Total cost of the board | $363,919 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
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 | Delcath Systems | 2025 | Gerard Michel | $635,707 | $0 | $4,774,551 | $355,000 | $5,765,258 |
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.
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.
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.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Gerard Michel | DEF 14A | 2026-04-02 | 0001628280-26-022948 | Section “SUMMARY COMPENSATION TABLE” · page 33. As printed: 5,765,258. Filing ↗machine: r2 · c36 · span 429046–429055 |
| 2 | Section 01, Vojislav Vukovic | DEF 14A | 2026-04-02 | 0001628280-26-022948 | Section “SUMMARY COMPENSATION TABLE” · page 33. As printed: 2,055,395. Filing ↗machine: r4 · c36 · span 433854–433863 |
| 3 | Section 01, Martha Rook | DEF 14A | 2026-04-02 | 0001628280-26-022948 | Section “SUMMARY COMPENSATION TABLE” · page 33. As printed: 2,024,228. Filing ↗machine: r6 · c36 · span 438627–438636 |
| 4 | Section 08, John Sylvester | DEF 14A | 2026-04-02 | 0001628280-26-022948 | Section “Director Compensation”. As printed: 337,635. Filing ↗machine: span 397907–398213 |
| 5 | Section 08, Elizabeth Czerepak | DEF 14A | 2026-04-02 | 0001628280-26-022948 | Section “Director Compensation”. As printed: 306,216. Filing ↗machine: span 393456–393762 |
| 6 | Section 08, Steven Salamon | DEF 14A | 2026-04-02 | 0001628280-26-022948 | Section “Director Compensation”. As printed: 306,216. Filing ↗machine: span 396427–396733 |
| 7 | Section 08, Bridget Martell, M.A., M.D | DEF 14A | 2026-04-02 | 0001628280-26-022948 | Section “Director Compensation”. As printed: 301,216. Filing ↗machine: span 394948–395254 |
| 8 | Section 08, Gil Aharon, Ph.D | DEF 14A | 2026-04-02 | 0001628280-26-022948 | Section “Director Compensation”. As printed: 293,716. Filing ↗machine: span 391921–392253 |
| 9 | Section 08, Gerard Michel | DEF 14A | 2026-04-02 | 0001628280-26-022948 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 10 | Section 06, 2026 vote | Form 8-K | 2026-05-14 | 0001193125-26-222899 | Item 5.07 · say-on-pay result. As reported: 88.34% (votes for as printed: 13,244,653). Filing ↗ |
| 11 | Section 06, 2025 vote | Form 8-K | 2025-05-16 | 0001193125-25-121700 | Item 5.07 · say-on-pay result. As reported: 98.5% (votes for as printed: 14,977,421). Filing ↗ |
| 12 | Section 06, 2024 vote | Form 8-K | 2024-05-29 | 0001193125-24-149142 | Item 5.07 · say-on-pay result. As reported: 96.8% (votes for as printed: 13,070,270). Filing ↗ |
| 13 | Section 01 trend, Δ column (computed) | Computed | — | — | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 14 | Section 09b board cost (computed) | Computed | — | — | Cash 363,919 + equity 0 + all other 0 = 363,919, summed across the director compensation table rows.machine: formula: Σ = 363,919 |
| 15 | Delcath Systems (subject), Section 10b CEO total | DEF 14A | 2026-04-02 | 0001628280-26-022948 | CEO total compensation as printed in Delcath Systems's own proxy. As printed: 5,765,258. Filing ↗machine: r2 · c36 · span 429046–429055 |
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