Velarion · Company Intelligence
Compensation Brief
Fiscal year 2023 · Filings through 2026-04-29

Paragon 28 (FNA)

Fiscal year 2023 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.

$3,232,420
Albert DaCosta total, FY2023
CEO pay percentile vs peers
CEO-to-median pay ratio
Say-on-pay support, latest vote
Companies that benchmark against FNA
5 companies name FNA as a compensation peer

Each company listed discloses FNA 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 FNA 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 2023

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Albert DaCosta$700,769$0$1,832,495$0$667,400$0$31,757$3,232,420
Chairman, President and Chief Executive Officer
Matthew Jarboe538,5310635,0030329,940031,4451,534,918
Chief Commercial Officer
Stephen Deitsch478,3850698,9950296,335031,7571,505,471
Chief Financial Officer
Robert McCormack148,9230924,994078,58408,7641,161,265
General Counsel and Corporate Secretary
Jason Edie221,16282,156463,001000388,9491,155,268
Former Chief Technology Officer
Andrew Hill57,6920999,9920003,7591,061,444
Executive Vice President of Research and Development

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 officerFY2023 totalFY2022 totalFY2021 totalΔ FY20222023
Albert DaCosta$3,232,420$5,214,743$4,650,087−1,982,323
Matthew Jarboe1,534,9182,255,3902,097,440−720,472
Stephen Deitsch1,505,4712,224,3211,895,603−718,850
Robert McCormack1,161,265
Jason Edie1,155,2682,457,580−1,302,312
Andrew Hill1,061,444

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 2023

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Matthew JarboeRSU2023-02-2835,47535,475$635,003
Jason EdiePSU2023-02-2825,86625,866463,001
Albert DaCostaRSU2023-02-28102,374102,3741,832,495
Stephen DeitschRSU2023-02-2839,05039,050698,995
Andrew HillRSU2023-10-2385,910999,992
Robert McCormackPSU2023-08-1454,96154,961924,994
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Matthew Jarboe$0$635,003$0100.0%
Jason Edie0463,0010100.0%
Albert DaCosta01,832,4950100.0%
Stephen Deitsch0698,9950100.0%
Andrew Hill999,992000.0%
Robert McCormack0924,9940100.0%

% 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 2023

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Matthew JarboeRSU35,475$440,954
Robert McCormackRSU85,9101,067,861
Stephen DeitschRSU59,004733,420
Albert DaCostaRSU102,3741,272,509
Albert DaCostaRSU154,6841,922,722
Robert McCormackRSU54,961683,165
Stephen DeitschOption125,0006
Robert McCormackRSU6,46780,385
Matthew JarboeRSU53,601666,260
Stephen DeitschRSU39,050485,392
Albert DaCostaOption206,60916
Stephen DeitschOption71,13116
Robert McCormackOption51,23017.72
Matthew JarboeOption71,13116
05

Incentive-plan design — the Compensation Discussion & Analysis

Historically, our executive compensation program has been designed to motivate, reward, attract and retain high caliber management deemed critical to our success. The program seeks to align executive compensation with our short-term and long-term objectives, financial performance and stockholder priorities.

CEO STI target (% of salary)100%
CEO LTI target (% of salary)
Independent consultantCompensia, Inc.
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
08

Director compensation — fiscal year 2023

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Thomas SchnettlerIndependent · Lead Independent Director · Audit$95,000$150,000$0$0$245,000
Kristina WrightEmployee director · Audit (Chair)70,000150,00000220,000
Quentin BlackfordIndependent · Audit · Compensation (Chair)70,000150,00000220,000
B. Kristine JohnsonIndependent · Compensation · Nominating and Corporate Governance (Chair)62,500150,00000212,500
Meghan ScanlonIndependent · Compensation · Nominating and Corporate Governance · Quality, Technology and Regulatory60,611150,00000210,611
Stephen OesterleIndependent · Nominating and Corporate Governance · Quality, Technology and Regulatory (Chair)60,000150,00000210,000
Alf GrunwaldIndependent · Audit · Quality, Technology and Regulatory60,000150,00000210,000
Albert DaCostaEmployee director · Board Chair00000
09

Board fee structure and ownership guideline

Annual cash retainer$45,000
Annual equity retainer$150,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)
Stock ownership guideline4x annual retainer
09b

Total cost of the board

ComponentFY2023
Cash retainers and fees$478,111
Equity awards (grant-date value)$1,050,000
All other compensation$0
Total cost of the board$1,528,111

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

10

Disclosed peer group — fiscal year 2023

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 Paragon 28 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 Paragon 28.

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
1Silk Road Medical2023Chas McKhann$105,871$13,123,059$0$93,275$13,423,834
2Glaukos2025Thomas Burns850,0007,649,9473,527,497012,034,087
3Nevro2023Kevin Thornal515,62510,080,1730402,75011,453,548
4Vericel2025Dominick Colangelo860,0003,964,6305,456,287860,00011,156,368
5iRhythm Technologies2025Quentin Blackford700,0038,919,45701,350,00011,003,163
6Alphatec Holdings2025Patrick Miles762,0008,859,6500600,00010,260,507
7AtriCure2025Michael Carrel828,4397,203,47801,171,7039,217,620
8AxoGen2025Michael Dale775,8657,342,8950906,1339,047,454
9SI-BONE2025Laura Francis685,0006,038,7100729,5257,453,235
10Orthofix Medical2025Massimo Calafiore848,3224,499,9881,500,009445,5797,310,039
11Tandem Diabetes Care2025John Sheridan790,5835,367,7960674,0906,858,503
12Treace Medical Concepts2025John Treace755,3534,635,000005,405,190
13Inari Medical2023Andrew Hykes700,0002,606,744937,488826,0005,083,365
14LeMaitre Vascular2025George LeMaitre806,3471,050,0001,050,000680,0153,780,990
15Paragon 282023Albert DaCosta700,7691,832,4950667,4003,232,420
16Cryoport2025Jerrell Shelton967,845192,300306,869908,5102,375,524
Axonicsnot in coverage universe

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
Paragon 2894%RSU 100not disclosedCompensia, Inc.
Alphatec Holdings157%PSU 50 · RSU 50NoCompensia, Inc.
AtriCure141%PSU 70 · RSU 30NoKorn Ferry
AxoGen116.79%PSU 50 · RSU 50NoAon
Axonicsnot disclosednot disclosednot disclosednot disclosed
Cryoport92.2%Options 62 · RSU 38not disclosedFrederic W. Cook & Co., Inc.
Glaukos177.5%PSU 50NoFrederic W. Cook & Co., Inc.
Inari Medical118%RSU 75 · Options 25not disclosedFW Cook
iRhythm Technologies173%PSU 50 · RSU 50NoAon (January 1 to May 28) and Mercer (May 29 forward)
LeMaitre Vascular144%Options 50 · RSU 25 · PSU 25Nonot disclosed
Nevro53.7%RSU 50 · PSU 50NoAon
Orthofix Medical47.7%PSU 50 · RSU 25 · Options 25NoMeridian Compensation Partners
SI-BONE106.5%RSU 50 · PSU 50Yes — Relative TSRCompensia, Inc.
Silk Road Medicalnot disclosedPSU 50 · RSU 50not disclosedCompensia
Tandem Diabetes Care87%PSU 50 · RSU 50Yes — TSR performance compared to the Russell 3000 index in the three-year period between 2025 and 2027WTW
Treace Medical Conceptsnot disclosedRSU 50 · PSU 50NoCompensia, Inc.
Vericel100%Options 58 · RSU 42not disclosedFW 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.

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, Albert DaCostaDEF 14A2024-04-050001193125-24-088613Section “2023 Summary Compensation Table” · page 51. As printed: 3,232,420. Filing ↗machine: t193 · r2 · c31 · span 598805–598814
2Section 01, Matthew JarboeDEF 14A2024-04-050001193125-24-088613Section “2023 Summary Compensation Table” · page 51. As printed: 1,534,918. Filing ↗machine: t193 · r8 · c31 · span 612738–612747
3Section 01, Stephen DeitschDEF 14A2024-04-050001193125-24-088613Section “2023 Summary Compensation Table” · page 51. As printed: 1,505,471. Filing ↗machine: t193 · r5 · c31 · span 605886–605895
4Section 01, Robert McCormackDEF 14A2024-04-050001193125-24-088613Section “2023 Summary Compensation Table” · page 51. As printed: 1,161,265. Filing ↗machine: t193 · r11 · c31 · span 619670–619679
5Section 01, Jason EdieDEF 14A2024-04-050001193125-24-088613Section “2023 Summary Compensation Table” · page 51. As printed: 1,155,268. Filing ↗machine: t193 · r17 · c31 · span 630884–630893
6Section 01, Andrew HillDEF 14A2024-04-050001193125-24-088613Section “2023 Summary Compensation Table” · page 51. As printed: 1,061,444. Filing ↗machine: t193 · r14 · c31 · span 625364–625373
7Section 03, Matthew Jarboe RSUDEF 14A2024-04-050001193125-24-088613Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t193 · r8 · c15 · span 611723–611730
8Section 03, Jason Edie PSUDEF 14A2024-04-050001193125-24-088613Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t193 · r17 · c15 · span 629856–629863
9Section 03, Albert DaCosta RSUDEF 14A2024-04-050001193125-24-088613Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t193 · r2 · c15 · span 597788–597797
10Section 03, Stephen Deitsch RSUDEF 14A2024-04-050001193125-24-088613Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t193 · r5 · c15 · span 604871–604878
11Section 03, Andrew Hill RSUDEF 14A2024-04-050001193125-24-088613Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t193 · r14 · c15 · span 624338–624345
12Section 03, Robert McCormack PSUDEF 14A2024-04-050001193125-24-088613Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t193 · r11 · c15 · span 618657–618664
13Section 08, Thomas SchnettlerDEF 14A2024-04-050001193125-24-088613Section “Director Compensation”. As printed: 245,000. Filing ↗machine: t109 · r7 · c11 · span 367985–367992
14Section 08, Kristina WrightDEF 14A2024-04-050001193125-24-088613Section “Director Compensation”. As printed: 220,000. Filing ↗machine: t109 · r8 · c11 · span 369129–369136
15Section 08, Quentin BlackfordDEF 14A2024-04-050001193125-24-088613Section “Director Compensation”. As printed: 220,000. Filing ↗machine: t109 · r2 · c11 · span 362610–362617
16Section 08, B. Kristine JohnsonDEF 14A2024-04-050001193125-24-088613Section “Director Compensation”. As printed: 212,500. Filing ↗machine: t109 · r4 · c11 · span 364763–364770
17Section 08, Meghan ScanlonDEF 14A2024-04-050001193125-24-088613Section “Director Compensation”. As printed: 210,611. Filing ↗machine: t109 · r6 · c11 · span 366920–366927
18Section 08, Stephen OesterleDEF 14A2024-04-050001193125-24-088613Section “Director Compensation”. As printed: 210,000. Filing ↗machine: t109 · r5 · c11 · span 365833–365840
19Section 08, Alf GrunwaldDEF 14A2024-04-050001193125-24-088613Section “Director Compensation”. As printed: 210,000. Filing ↗
20Section 08, Albert DaCostaDEF 14A2024-04-050001193125-24-088613Section “Director Compensation”. As printed: 0. Filing ↗
21Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
22Section 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
23Section 09b board cost (computed)ComputedcomputedCash 478,111 + equity 1,050,000 + all other 0 = 1,528,111, summed across the director compensation table rows.machine: formula: Σ = 1,528,111
24Silk Road Medical, Section 10b CEO totalDEF 14A2024-04-260001397702-24-000024CEO total compensation as printed in Silk Road Medical's own proxy. As printed: 13,423,834. Filing ↗machine: r2 · c8 · span 1756696–1756706
25Glaukos, Section 10b CEO totalDEF 14A2026-04-160001193125-26-157829CEO total compensation as printed in Glaukos's own proxy. As printed: 12,034,087. Filing ↗machine: t93 · r6 · c38 · span 1876942–1876952
26Nevro, Section 10b CEO totalDEF 14A2024-04-120000950170-24-044100CEO total compensation as printed in Nevro's own proxy. As printed: 11,453,548. Filing ↗machine: r2 · c16 · span 631983–631993
27Vericel, Section 10b CEO totalDEF 14A2026-03-190001308179-26-000094CEO total compensation as printed in Vericel's own proxy. As printed: 11,156,368. Filing ↗machine: t258 · r1 · c27 · span 627744–627754
28iRhythm Technologies, Section 10b CEO totalDEF 14A2026-04-170001388658-26-000030CEO total compensation as printed in iRhythm Technologies's own proxy. As printed: 11,003,163. Filing ↗machine: r2 · c21 · span 1123498–1123508
29Alphatec Holdings, Section 10b CEO totalDEF 14A2026-04-290001193125-26-191867CEO total compensation as printed in Alphatec Holdings's own proxy. As printed: 10,260,507. Filing ↗machine: t26 · r2 · c25 · span 858148–858158
30AtriCure, Section 10b CEO totalDEF 14A2026-04-060001323885-26-000010CEO total compensation as printed in AtriCure's own proxy. As printed: 9,217,620. Filing ↗machine: span 743364–743373
31AxoGen, Section 10b CEO totalDEF 14A2026-04-290000805928-26-000057CEO total compensation as printed in AxoGen's own proxy. As printed: 9,047,454. Filing ↗machine: r2 · c45 · span 557309–557318
32SI-BONE, Section 10b CEO totalDEF 14A2026-04-210001459839-26-000049CEO total compensation as printed in SI-BONE's own proxy. As printed: 7,453,235. Filing ↗machine: r3 · c18 · span 626969–626978
33Orthofix Medical, Section 10b CEO totalDEF 14A2026-04-290001193125-26-191716CEO total compensation as printed in Orthofix Medical's own proxy. As printed: 7,310,039. Filing ↗machine: t96 · r4 · c16 · span 1472329–1472338
34Tandem Diabetes Care, Section 10b CEO totalDEF 14A2026-04-070001438133-26-000034CEO total compensation as printed in Tandem Diabetes Care's own proxy. As printed: 6,858,503. Filing ↗machine: r3 · c27 · span 866963–866972
35Treace Medical Concepts, Section 10b CEO totalDEF 14A2026-04-060001630627-26-000005CEO total compensation as printed in Treace Medical Concepts's own proxy. As printed: 5,405,190. Filing ↗machine: t81 · r4 · c16 · span 1034150–1034159
36Inari Medical, Section 10b CEO totalDEF 14A2024-03-130001193125-24-066805CEO total compensation as printed in Inari Medical's own proxy. As printed: 5,083,365. Filing ↗machine: r2 · c31 · span 454508–454517
37LeMaitre Vascular, Section 10b CEO totalDEF 14A2026-04-140001193125-26-153877CEO total compensation as printed in LeMaitre Vascular's own proxy. As printed: 3,780,990. Filing ↗machine: span 564038–564047
38Paragon 28 (subject), Section 10b CEO totalDEF 14A2024-04-050001193125-24-088613CEO total compensation as printed in Paragon 28's own proxy. As printed: 3,232,420. Filing ↗machine: t193 · r2 · c31 · span 598805–598814
39Cryoport, Section 10b CEO totalDEF 14A2026-04-220001140361-26-016129CEO total compensation as printed in Cryoport's own proxy. As printed: 2,375,524. Filing ↗machine: t277 · r2 · c22 · span 1285130–1285139
40Section 10a, SI-BONE reciprocityDEF 14A0001459839-26-000049SI-BONE names Paragon 28 in its own disclosed peer group (read from its most recent proxy). Filing ↗
41Section 10a, Alphatec Holdings reciprocityDEF 14A0001193125-26-191867Alphatec Holdings's most recent proxy was read; its disclosed peer group does not include Paragon 28. Filing ↗
42Section 10a, Glaukos reciprocityDEF 14A0001193125-26-157829Glaukos's most recent proxy was read; its disclosed peer group does not include Paragon 28. Filing ↗
43Section 10a, Inari Medical reciprocityDEF 14A0001193125-24-066805Inari Medical's most recent proxy was read; its disclosed peer group does not include Paragon 28. Filing ↗
44Section 10a, Silk Road Medical reciprocityDEF 14A0001397702-24-000024Silk Road Medical's most recent proxy was read; its disclosed peer group does not include Paragon 28. Filing ↗
45Section 10a, Treace Medical Concepts reciprocityDEF 14A0001630627-26-000005Treace Medical Concepts's most recent proxy was read; its disclosed peer group does not include Paragon 28. Filing ↗
46Section 10a, Vericel reciprocityDEF 14A0001308179-26-000094Vericel's most recent proxy was read; its disclosed peer group does not include Paragon 28. Filing ↗
47Section 10a, AxoGen reciprocityDEF 14A0000805928-26-000057AxoGen names Paragon 28 in its own disclosed peer group (read from its most recent proxy). Filing ↗
48Section 10a, iRhythm Technologies reciprocityDEF 14A0001388658-26-000030iRhythm Technologies's most recent proxy was read; its disclosed peer group does not include Paragon 28. Filing ↗
49Section 10a, AtriCure reciprocityDEF 14A0001323885-26-000010AtriCure's most recent proxy was read; its disclosed peer group does not include Paragon 28. Filing ↗
50Section 10a, Nevro reciprocityDEF 14A0000950170-24-044100Nevro's most recent proxy was read; its disclosed peer group does not include Paragon 28. Filing ↗
51Section 10a, Orthofix Medical reciprocityDEF 14A0001193125-26-191716Orthofix Medical's most recent proxy was read; its disclosed peer group does not include Paragon 28. Filing ↗
52Section 10a, Tandem Diabetes Care reciprocityDEF 14A0001438133-26-000034Tandem Diabetes Care's most recent proxy was read; its disclosed peer group does not include Paragon 28. Filing ↗