Companies InfuSystem Holdings, Inc
InfuSystem (INFU): executive pay, fiscal 2025
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CEO pay, last three years
- $1,264,258FY2023
- $1,289,929FY2024
- $2,911,783FY2025
CEO total pay was $2,911,783 in fiscal 2025, up from $1,289,929 in fiscal 2024.
FY2025: salary $478,887 · bonus $500,000 · stock awards $1,346,500 · option awards $566,481
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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 |
|---|---|---|---|---|---|---|---|---|
| Carrie Lachance | $478,887 | $500,000 | $1,346,500 | $566,481 | $0 | $0 | $19,915 | $2,911,783 |
| Chief Executive Officer | ||||||||
| Barry Steele | 432,600 | 309,560 | 540,753 | 149,915 | 0 | 0 | 20,039 | 1,452,867 |
| Executive Vice President and Chief Financial Officer | ||||||||
| Richard DiIorio | 278,654 | 264,600 | 0 | 0 | 0 | 0 | 732,178 | 1,275,432 |
| Former Chief Executive Officer | ||||||||
| Jerod Funke | 373,100 | 223,860 | 373,104 | 103,437 | 0 | 0 | 20,944 | 1,094,445 |
| Executive Vice President, Chief Human Resources 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 |
|---|---|---|---|---|
| Carrie Lachance | $2,911,783 | $1,289,929 | $1,264,258 | ↑ +1,621,854 |
| Barry Steele | 1,452,867 | 1,250,063 | 1,147,839 | ↑ +202,804 |
| Richard DiIorio | 1,275,432 | 2,515,221 | 2,286,657 | ↓ −1,239,789 |
| Jerod Funke | 1,094,445 | — | — | — |
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
InfuSystem’s executive compensation program is built to closely align leadership rewards with company performance and shareholder value creation, placing significant weight on variable, at-risk pay and emphasizing market competitiveness and performance-driven incentives.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| 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 |
|---|---|---|---|---|---|---|---|
| Barry Steele | RSU | 2025-05-16 | — | — | 53,518 | — | $149,915 |
| Carrie Lachance | RSU | 2025-05-16 | — | — | 202,228 | — | 566,481 |
| Jerod Funke | PSU | 2025-05-16 | 31,092 | 31,092 | — | 62,184 | 279,828 |
| Jerod Funke | RSU | 2025-05-16 | — | — | 15,546 | — | 93,276 |
| Jerod Funke | RSU | 2025-05-16 | — | — | 36,926 | — | 103,437 |
| Carrie Lachance | RSU | 2025-05-16 | — | — | 200,000 | — | 596,500 |
| Carrie Lachance | RSU | 2025-05-16 | — | — | 31,250 | — | 187,500 |
| Carrie Lachance | PSU | 2025-05-16 | 62,500 | 62,500 | — | 125,000 | 562,500 |
| Barry Steele | PSU | 2025-05-16 | 45,063 | 45,063 | — | 90,126 | 405,567 |
| Barry Steele | RSU | 2025-05-16 | — | — | 22,531 | — | 135,186 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Barry Steele | $285,101 | $405,567 | $0 | 58.7% |
| Carrie Lachance | 1,350,481 | 562,500 | 0 | 29.4% |
| Jerod Funke | 196,713 | 279,828 | 0 | 58.7% |
% 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 |
|---|---|---|---|---|
| Jerod Funke | Option | 15,559 | 9.78 | — |
| Barry Steele | Option | 19,538 | 9.18 | — |
| Carrie Lachance | Option | 20,026 | 9.18 | — |
| Jerod Funke | RSU | 36,849 | — | 330,536 |
| Jerod Funke | Option | 36,926 | 6 | — |
| Jerod Funke | PSU | 45,238 | — | 405,785 |
| Jerod Funke | Option | 48,008 | 6.34 | — |
| Barry Steele | RSU | 51,948 | — | 465,974 |
| Barry Steele | Option | 53,518 | 6 | — |
| Carrie Lachance | RSU | 61,401 | — | 550,767 |
| Barry Steele | PSU | 65,765 | — | 589,912 |
| Barry Steele | Option | 70,256 | 6.34 | — |
| Carrie Lachance | Option | 72,012 | 6.34 | — |
| Carrie Lachance | Option | 202,228 | 6 | — |
| Carrie Lachance | PSU | 233,719 | — | 2,096,459 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Scott A. ShudaIndependent · Board Chair · Nominating/Governance (Chair) · Compensation | $84,726 | — | $144,161 | — | $0 | $228,887 |
| Ronald HundzinskiIndependent · Nominating/Governance · Audit | 90,390 | — | 110,894 | — | 0 | 201,284 |
| John SvioklaIndependent · Audit | 50,630 | — | 144,161 | — | 0 | 194,791 |
| Paul A. GendronIndependent · Audit (Chair) · Compensation | 78,575 | — | 110,894 | — | 0 | 189,469 |
| Beverly A. HussIndependent · Nominating/Governance · Compensation (Chair) | 75,130 | — | 110,894 | — | 0 | 186,024 |
| Kenneth D. Eichenbaum, MD, MSEIndependent | 73,267 | — | 110,894 | — | 0 | 184,161 |
| Ralph BoydIndependent · Departed during FY | 24,219 | — | 0 | — | 0 | 24,219 |
| Carrie LachanceEmployee 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 / 20,000 / 15,000 |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $476,937 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $0 |
| Total cost of the board | $476,937 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names InfuSystem as a peer
Companies that benchmark against INFU
No companies currently name INFU as a compensation peer in their most recent disclosure.
This is the complete answer, not a partial one — the list is never padded.
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.
Peer reciprocity
Of the companies InfuSystem Holdings, 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 InfuSystem Holdings, Inc.
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 | National Research Corporation | 2025 | Trent Green | $697,115 | $6,755,000 | $0 | $0 | $11,961,900 |
| 2 | AxoGen, Inc. | 2025 | Michael Dale | 775,865 | 7,342,895 | 0 | 906,133 | 9,047,454 |
| 3 | AirSculpt Technologies, Inc. | 2025 | Yogesh Jashnani | 660,513 | 3,917,591 | 0 | 140,000 | 4,980,604 |
| 4 | American Well Corporation | 2025 | Ido Schoenberg | 701,755 | 1,294,331 | 0 | 2,010,100 | 4,162,171 |
| 5 | Cerus Corporation | 2025 | William Greenman | 793,750 | 2,242,585 | 0 | 756,000 | 3,794,657 |
| 6 | OrthoPediatrics Corp. | 2025 | David Bailey | 550,000 | 2,445,200 | 0 | 322,281 | 3,331,481 |
| 7 | InfuSystem Holdings, Inc | 2025 | Carrie Lachance | 478,887 | 1,346,500 | 566,481 | 0 | 2,911,783 |
| 8 | Electromed, Inc. | 2026 | James Cunniff | 536,800 | 407,150 | 405,688 | 448,864 | 1,812,918 |
| 9 | KORU Medical Systems, Inc. | 2025 | Linda Tharby | 596,960 | 658,794 | 187,649 | 280,480 | 1,737,883 |
| 10 | Lifecore Biomedical, Inc. | 2025 | Paul Josephs | 550,000 | 274,996 | — | — | 1,115,305 |
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.
Incentive design against the same peers
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| InfuSystem Holdings, Inc | not disclosed | PSU 50 · Option 25 · RSU 25 | not disclosed | not disclosed |
| AirSculpt Technologies, Inc. | 0% for revenue/EBITDA targets. 100% of the 20% target (i.e., $140,000) for Mr. Jashnani for debt prepayment.% | RSUs 50 · PSUs 50 | Yes — Relative Total Shareholder Return (rTSR) | Haigh & Co. |
| American Well Corporation | not disclosed | PSU 45 · Cash LTI 45 · RSU 10 | No | Aon |
| AxoGen, Inc. | 116.79% | PSU 50 · RSU 50 | No | Aon |
| Cerus Corporation | 126% | not disclosed | No | Alpine |
| Electromed, Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| KORU Medical Systems, Inc. | not disclosed | not disclosed | not disclosed | Aon Consulting, Inc. |
| Lifecore Biomedical, Inc. | not disclosed | not disclosed | not disclosed | Frederic W. Cook & Co. |
| National Research Corporation | not disclosed | not disclosed | not disclosed | not disclosed |
| OrthoPediatrics Corp. | 78.2% | RSU 100 | not disclosed | NFP Compensation Consulting |
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.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-11 | 11,915,842 | 1,071,346 | 83,491 | 91.75% | Passed |
| 2025 | 2025-05-15 | 11,985,047 | 1,935,652 | 97,492 | 86.1% | Passed |
| 2024 | 2024-05-16 | 8,447,458 | 7,411,428 | 6,763 | 53.27% | Passed |
| 2023 | 2023-05-16 | 12,275,494 | 1,004,581 | 18,155 | 92.44% | Passed |
| 2022 | 2022-05-17 | 10,519,920 | 1,564,846 | 384,293 | 87.05% | Passed |
| 2021 | 2021-05-18 | 12,612,519 | 363,385 | 11,120 | 97.2% | 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 | 2026-05-11 | 91.75%a |
| 2025 | 2025-05-15 | 86.1%b |
| 2024 | 2024-05-16 | 53.27%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 (42 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, Carrie Lachance. DEF 14A, filed 2026-04-10. Section “Executive Compensation”. As printed: 2,911,783. View filing ↗
- Section 01, Barry Steele. DEF 14A, filed 2026-04-10. Section “Executive Compensation”. As printed: 1,452,867. View filing ↗
- Section 01, Richard DiIorio. DEF 14A, filed 2026-04-10. Section “Executive Compensation”. As printed: 1,275,432. View filing ↗
- Section 01, Jerod Funke. DEF 14A, filed 2026-04-10. Section “Executive Compensation”. As printed: 1,094,445. View filing ↗
- Section 03, Barry Steele RSU. DEF 14A, filed 2026-04-10. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Carrie Lachance RSU. DEF 14A, filed 2026-04-10. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Jerod Funke PSU. DEF 14A, filed 2026-04-10. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Jerod Funke RSU. DEF 14A, filed 2026-04-10. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Jerod Funke RSU. DEF 14A, filed 2026-04-10. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Carrie Lachance RSU. DEF 14A, filed 2026-04-10. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Carrie Lachance RSU. DEF 14A, filed 2026-04-10. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Carrie Lachance PSU. DEF 14A, filed 2026-04-10. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Barry Steele PSU. DEF 14A, filed 2026-04-10. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Barry Steele RSU. DEF 14A, filed 2026-04-10. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 08, Scott A. Shuda. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 228,887. View filing ↗
- Section 08, Ronald Hundzinski. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 201,284. View filing ↗
- Section 08, John Sviokla. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 194,791. View filing ↗
- Section 08, Paul A. Gendron. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 189,469. View filing ↗
- Section 08, Beverly A. Huss. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 186,024. View filing ↗
- Section 08, Kenneth D. Eichenbaum, MD, MSE. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 184,161. View filing ↗
- Section 08, Ralph Boyd. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 24,219. View filing ↗
- Section 08, Carrie Lachance. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-05-12. Item 5.07 · say-on-pay result. As reported: 91.75% (votes for as printed: 11,915,842). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-05-20. Item 5.07 · say-on-pay result. As reported: 86.1% (votes for as printed: 11,985,047). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-05-17. Item 5.07 · say-on-pay result. As reported: 53.27% (votes for as printed: 8,447,458). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
- Section 09b board cost (computed). Computed. Cash 476,937 + equity 0 + all other 0 = 476,937, summed across the director compensation table rows.
- National Research Corporation, Section 10b CEO total. DEF 14A, filed 2026-05-08. CEO total compensation as printed in National Research Corporation's own proxy. As printed: 11,961,900. View filing ↗
- AxoGen, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-29. CEO total compensation as printed in AxoGen, Inc.'s own proxy. As printed: 9,047,454. View filing ↗
- AirSculpt Technologies, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-15. CEO total compensation as printed in AirSculpt Technologies, Inc.'s own proxy. As printed: 4,980,604. View filing ↗
- American Well Corporation, Section 10b CEO total. DEF 14A, filed 2026-04-23. CEO total compensation as printed in American Well Corporation's own proxy. As printed: 4,162,171. View filing ↗
- Cerus Corporation, Section 10b CEO total. DEF 14A, filed 2026-04-22. CEO total compensation as printed in Cerus Corporation's own proxy. As printed: 3,794,657. View filing ↗
- OrthoPediatrics Corp., Section 10b CEO total. DEF 14A, filed 2026-04-20. CEO total compensation as printed in OrthoPediatrics Corp.'s own proxy. As printed: 3,331,481. View filing ↗
- InfuSystem Holdings, Inc (subject), Section 10b CEO total. DEF 14A, filed 2026-04-10. CEO total compensation as printed in InfuSystem Holdings, Inc's own proxy. As printed: 2,911,783. View filing ↗
- Electromed, Inc., Section 10b CEO total. DEF 14A, filed 2026-09-29. CEO total compensation as printed in Electromed, Inc.'s own proxy. As printed: 1,812,918. View filing ↗
- KORU Medical Systems, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-09. CEO total compensation as printed in KORU Medical Systems, Inc.'s own proxy. As printed: 1,737,883. View filing ↗
- Lifecore Biomedical, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in Lifecore Biomedical, Inc.'s own proxy. As printed: 1,115,305. View filing ↗
- Section 10a, Cerus Corporation reciprocity. DEF 14A. Cerus Corporation's most recent proxy was read; its disclosed peer group does not include InfuSystem Holdings, Inc. View filing ↗
- Section 10a, AxoGen, Inc. reciprocity. DEF 14A. AxoGen, Inc.'s most recent proxy was read; its disclosed peer group does not include InfuSystem Holdings, Inc. View filing ↗
- Section 10a, American Well Corporation reciprocity. DEF 14A. American Well Corporation's most recent proxy was read; its disclosed peer group does not include InfuSystem Holdings, Inc. View filing ↗
- Section 10a, Lifecore Biomedical, Inc. reciprocity. DEF 14A. Lifecore Biomedical, Inc.'s most recent proxy was read; its disclosed peer group does not include InfuSystem Holdings, Inc. View filing ↗