Companies DELCATH SYSTEMS, INC.
DELCATH SYSTEMS (DCTH): executive pay, fiscal 2025
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CEO pay, last three years
- $2,520,314FY2023
- $2,157,414FY2024
- $5,765,258FY2025
CEO total pay was $5,765,258 in fiscal 2025, up from $2,157,414 in fiscal 2024.
FY2025: salary $635,707 · bonus $0 · stock awards $0 · option awards $4,774,551
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Executives and directors
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 |
|---|---|---|---|---|---|---|---|---|
| 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.
Three-year trend — total compensation per named executive
| 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.
Incentive-plan design — the Compensation Discussion & Analysis
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. |
Equity grants and outstanding awards
No plan-based awards are on file for this fiscal year.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Gerard Michel | Option | 3,900 | 4.67 | — |
| Gerard Michel | Option | 23,435 | 7.25 | — |
| Vojislav Vukovic | Option | 25,116 | 5.93 | — |
| Vojislav Vukovic | Option | 36,284 | 4.78 | — |
| Martha Rook | Option | 48,594 | 4.18 | — |
| Vojislav Vukovic | Option | 78,471 | 16.25 | — |
| Martha Rook | Option | 78,471 | 16.25 | — |
| Gerard Michel | Option | 108,875 | 4.78 | — |
| Gerard Michel | Option | 270,826 | 16.25 | — |
Director compensation
| 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 |
Board fee structure and ownership guideline
| 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 | — |
Total cost of the board
| 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.
Peer group, and who names DELCATH SYSTEMS as a peer
Companies that benchmark against DCTH
- Pulmonx CorpLUNGFY2025
Each company listed discloses DCTH in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy 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 | DELCATH SYSTEMS, INC. | 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.
Say-on-pay history and pay ratio
| 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.
Say-on-pay — history, company’s computation
| 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.
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (15 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, Gerard Michel. DEF 14A, filed 2026-04-02. Section “SUMMARY COMPENSATION TABLE” · page 33. As printed: 5,765,258. View filing ↗
- Section 01, Vojislav Vukovic. DEF 14A, filed 2026-04-02. Section “SUMMARY COMPENSATION TABLE” · page 33. As printed: 2,055,395. View filing ↗
- Section 01, Martha Rook. DEF 14A, filed 2026-04-02. Section “SUMMARY COMPENSATION TABLE” · page 33. As printed: 2,024,228. View filing ↗
- Section 08, John Sylvester. DEF 14A, filed 2026-04-02. Section “Director Compensation”. As printed: 337,635. View filing ↗
- Section 08, Elizabeth Czerepak. DEF 14A, filed 2026-04-02. Section “Director Compensation”. As printed: 306,216. View filing ↗
- Section 08, Steven Salamon. DEF 14A, filed 2026-04-02. Section “Director Compensation”. As printed: 306,216. View filing ↗
- Section 08, Bridget Martell, M.A., M.D. DEF 14A, filed 2026-04-02. Section “Director Compensation”. As printed: 301,216. View filing ↗
- Section 08, Gil Aharon, Ph.D. DEF 14A, filed 2026-04-02. Section “Director Compensation”. As printed: 293,716. View filing ↗
- Section 08, Gerard Michel. DEF 14A, filed 2026-04-02. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-05-14. Item 5.07 · say-on-pay result. As reported: 88.34% (votes for as printed: 13,244,653). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-05-16. Item 5.07 · say-on-pay result. As reported: 98.5% (votes for as printed: 14,977,421). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-05-29. Item 5.07 · say-on-pay result. As reported: 96.8% (votes for as printed: 13,070,270). 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 363,919 + equity 0 + all other 0 = 363,919, summed across the director compensation table rows.
- DELCATH SYSTEMS, INC. (subject), Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in DELCATH SYSTEMS, INC.'s own proxy. As printed: 5,765,258. View filing ↗