Velarion · Company Intelligence
Compensation Brief
Fiscal year 2023 · Filings through 2026-05-04

Inari Medical, Inc. (INRI)

CEO Andrew Hykes was paid $5,083,365 in fiscal year 2023, ↑ up 62.5% from fiscal year 2022, the 7th percentile of its disclosed peer group (SEC filing 0001193125-24-066805 ↗): 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.

$5,083,365 ↑
Andrew Hykes total, FY2023
7th
CEO pay percentile vs peers
—
CEO-to-median pay ratio
95.35%
Say-on-pay support, latest vote

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Companies that benchmark against INRI
No companies currently name INRI as a compensation peer in their most recent disclosure.

This is the complete answer, not a partial one — the list is never padded.

01

Summary Compensation Table — fiscal year 2023

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Andrew Hykes$700,000$0$2,606,744$937,488$826,000$0$13,133$5,083,365
Chief Executive Officer
Thomas Tu497,50001,199,072431,242354,000014,1332,495,947
Chief Medical Officer
Mitchell Hill497,50001,199,072431,242354,000013,1332,494,947
Chief Financial 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 officerFY2023 totalFY2022 totalFY2021 totalΔ FY2022→2023
Andrew Hykes$5,083,365$3,127,714$2,563,026↑ +1,955,651
Thomas Tu2,495,9472,323,4921,960,794↑ +172,455
Mitchell Hill2,494,9472,321,6291,895,921↑ +173,318

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
Mitchell HillRSU2023-02-18——21,412—$1,199,072
Thomas TuRSU2023-02-18——21,412—1,199,072
Thomas TuOPTION2023-02-18——16,599—431,242
Andrew HykesOPTION2023-02-18——36,085—937,488
Andrew HykesRSU2023-02-18——46,549—2,606,744
Mitchell HillOPTION2023-02-18——16,599—431,242
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Mitchell Hill$1,199,072$0$431,2420.0%
Thomas Tu1,199,0720431,2420.0%
Andrew Hykes2,606,7440937,4880.0%

% 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
Thomas TuRSU139,584—$0
Andrew HykesRSU4,008—260,199
Andrew HykesRSU34,912—2,266,487
Mitchell HillRSU16,059—1,042,550
Mitchell HillRSU9,968—647,123
Thomas TuRSU16,059—1,042,550
Andrew HykesRSU14,940—969,905
Thomas TuRSU8,420—546,626
Mitchell HillOption12,45056—
Mitchell HillRSU2,673—173,531
Thomas TuRSU2,673—173,531
Andrew HykesRSU161,100—0
Mitchell HillRSU94,477—0
Andrew HykesRSU16,719—0
Andrew HykesOption27,06356—
Thomas TuOption12,45056—
05

Incentive-plan design — the Compensation Discussion & Analysis

Our compensation programs are designed to align the interests of our executives with business priorities and stockholders, attract, retain, engage, and motivate talented executive officers, and remain market competitive and internally equitable.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantFW Cook
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingfalse
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20242024-04-2444,404,4872,164,720546,05895.35%Passed
20232023-05-1842,519,0093,417,294111,00392.56%Passed
20222022-05-2636,070,0165,283,156115,99787.22%Passed
20212021-05-27—————

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
20242024-04-2495.35%a
20232023-05-1892.56%b
20222022-05-2687.22%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.

08

Director compensation — fiscal year 2023

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Donald MilderIndependent · Board Chair · Compensation$105,500$160,968———$266,428
Cynthia LuccheseIndependent · Audit · Nominating/Governance · Risk75,000160,928———235,928
Jonathan Root, M.DIndependent · Compensation · Nominating/Governance70,000160,968———230,928
Kirk NielsenIndependent · Compensation · Nominating/Governance · Not standing for re-election66,134160,968———227,062
Robert WarnerIndependent · Audit · Nominating/Governance · Compensation60,000160,968———220,928
Rebecca ChambersIndependent · Audit · Nominating/Governance · Compensation60,000160,928———220,928
Catherine SzymanIndependent · Compensation59,544160,968———220,472
Dana G. Mead JrIndependent · Compensation57,500160,968———218,428
William HoffmanNot independent · Nominating/Governance37,500160,928———198,428
Andrew HykesEmployee director—————0
Current DirectorsIndependent——————
09

Board fee structure and ownership guideline

Annual cash retainer$50,000
Annual equity retainer$160,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)20,000 / 15,000 / 10,000
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2023
Cash retainers and fees$591,178
Equity awards (grant-date value)$1,448,592
All other compensation$0
Total cost of the board$2,039,770

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 Inari Medical, 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 Inari Medical, 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
1Silk Road Medical2023Chas McKhann$105,871$13,123,059$0$93,275$13,423,834
2NovoCure2025Ashley Cordova901,8378,249,9652,752,814811,65313,198,354
3Abiomed2022Michael Minogue788,6316,557,7243,072,5612,237,83612,665,992
4Glaukos2025Thomas Burns850,0007,649,9473,527,497012,034,087
5Nevro2023Kevin Thornal515,62510,080,1730402,75011,453,548
6iRhythm Technologies2025Quentin Blackford700,0038,919,45701,350,00011,003,163
7AtriCure2025Michael Carrel828,4397,203,47801,171,7039,217,620
8ShockWave Medical2022Doug Godshall644,2316,845,6600923,6508,418,871
9LivaNova2025Vladimir Makatsaria956,1154,303,0921,374,9991,287,6568,047,217
10Inspire Medical Systems2025Timothy Herbert750,5725,999,6550961,5577,711,784
11STAAR Surgical Company2025Stephen Farrell580,0006,836,000007,522,385
12Artivion2025J. Patrick Mackin835,1455,006,9900991,3686,883,108
13AngioDynamics2025James Clemmer803,0272,628,871808,2071,215,6085,494,285
14Inari Medical, Inc.2023Andrew Hykes700,0002,606,744937,488826,0005,083,365
15Penumbra2025Adam Elsesser850,000000851,621

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
Inari Medical, Inc.not disclosedRSU 75 · Option 25not disclosedFW Cook
Abiomednot disclosedPSU 50 · RSU 30 · Option 20not disclosedWillis Towers Watson
AngioDynamics150%PSU 50 · RSU 25 · Options 25NoMeridian
Artivion118.7%PSU 50 · RSU 50NoWillis Towers Watson
AtriCure141%PSU 70 · RSU 30NoKorn Ferry
Glaukos177.5%PSU 50NoFrederic W. Cook & Co., Inc.
Inspire Medical Systems111.4%PSU 50 · RSU 50NoAon
iRhythm Technologies173%PSU 50 · RSU 50Yes — Relative TSRAon, Mercer
LivaNova122.4%PSU 50 · RSU 25 · Options 25NoPearl Meyer
Nevro53.7%not disclosedNoAon
NovoCure100%PSU 50 · RSU 25 · Options 25NoFrederic W. Cook & Co., Inc.
Penumbranot disclosednot disclosedNoCompensia
ShockWave Medical142.1%RSU 50 · PRSU 50NoCompensia
Silk Road Medicalnot disclosedPSU 50 · RSU 50Yes — Total Stockholder Return (TSR) relative to peer groupCompensia, Inc.
STAAR Surgical Company135%RSU 50 · PSU 50NoSemler Brossy

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 Inari Medical, Inc. in fiscal 2023?
As disclosed, Andrew Hykes, the Chief Executive Officer, was the highest-paid executive at Inari Medical, Inc. in fiscal 2023 with total compensation of $5,083,365.
How does Inari Medical, Inc.'s chief executive pay compare to its disclosed peer group?
The filing shows that the chief executive's pay ranked at the 7th percentile of the disclosed peer group.
What is Inari Medical, Inc.'s CEO-to-median employee pay ratio?
The CEO-to-median employee pay ratio is not disclosed in this filing.
How did shareholders vote on Inari Medical, Inc.'s executive compensation?
Shareholders voted in support of the executive compensation proposal with 95.35% approval.
How much does Inari Medical, Inc. spend in total on board compensation for fiscal 2023?
The company reported total board compensation of $2,039,770 for fiscal 2023.

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, Andrew HykesDEF 14A2024-03-130001193125-24-066805Section “Summary Compensation Table”. As printed: 5,083,365. Filing ↗machine: r2 · c31 · span 454508–454517
2Section 01, Thomas TuDEF 14A2024-03-130001193125-24-066805Section “Summary Compensation Table”. As printed: 2,495,947. Filing ↗machine: r8 · c31 · span 468317–468326
3Section 01, Mitchell HillDEF 14A2024-03-130001193125-24-066805Section “Summary Compensation Table”. As printed: 2,494,947. Filing ↗machine: r5 · c31 · span 461429–461438
4Section 03, Mitchell Hill RSUDEF 14A2024-03-130001193125-24-066805Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 482221–482230
5Section 03, Thomas Tu RSUDEF 14A2024-03-130001193125-24-066805Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 484901–484910
6Section 03, Thomas Tu OPTIONDEF 14A2024-03-130001193125-24-066805Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 486201–486208
7Section 03, Andrew Hykes OPTIONDEF 14A2024-03-130001193125-24-066805Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 480843–480850
8Section 03, Andrew Hykes RSUDEF 14A2024-03-130001193125-24-066805Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 479543–479552
9Section 03, Mitchell Hill OPTIONDEF 14A2024-03-130001193125-24-066805Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 483521–483528
10Section 08, Donald MilderDEF 14A2024-03-130001193125-24-066805Section “Director Compensation”. As printed: 266,428. Filing ↗machine: span 274078–274085
11Section 08, Cynthia LuccheseDEF 14A2024-03-130001193125-24-066805Section “Director Compensation”. As printed: 235,928. Filing ↗machine: span 271926–271933
12Section 08, Jonathan Root, M.DDEF 14A2024-03-130001193125-24-066805Section “Director Compensation”. As printed: 230,928. Filing ↗machine: span 276230–276237
13Section 08, Kirk NielsenDEF 14A2024-03-130001193125-24-066805Section “Director Compensation”. As printed: 227,062. Filing ↗machine: span 275163–275170
14Section 08, Robert WarnerDEF 14A2024-03-130001193125-24-066805Section “Director Compensation”. As printed: 220,928. Filing ↗machine: span 278380–278387
15Section 08, Rebecca ChambersDEF 14A2024-03-130001193125-24-066805Section “Director Compensation”. As printed: 220,928. Filing ↗machine: span 269774–269781
16Section 08, Catherine SzymanDEF 14A2024-03-130001193125-24-066805Section “Director Compensation”. As printed: 220,472. Filing ↗machine: span 277319–277326
17Section 08, Dana G. Mead JrDEF 14A2024-03-130001193125-24-066805Section “Director Compensation”. As printed: 218,428. Filing ↗machine: span 273016–273023
18Section 08, William HoffmanDEF 14A2024-03-130001193125-24-066805Section “Director Compensation”. As printed: 198,428. Filing ↗machine: span 270862–270869
19Section 08, Andrew HykesDEF 14A2024-03-130001193125-24-066805Section “Director Compensation”. As printed: 0. Filing ↗
20Section 08, Current DirectorsDEF 14A2024-03-130001193125-24-066805Section “Director Compensation”. As printed: —. Filing ↗
21Section 06, 2024 voteForm 8-K2024-04-250001531048-24-000027Item 5.07 · say-on-pay result. As reported: 95.35% (votes for as printed: 44,404,487). Filing ↗
22Section 06, 2023 voteForm 8-K2023-05-190001531048-23-000012Item 5.07 · say-on-pay result. As reported: 92.56% (votes for as printed: 42,519,009). Filing ↗
23Section 06, 2022 voteForm 8-K2022-05-270000950170-22-010857Item 5.07 · say-on-pay result. As reported: 87.22% (votes for as printed: 36,070,016). Filing ↗
24Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
25Section 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).machine: formula: sums + PSU ratio
26Section 09b board cost (computed)Computed——Cash 591,178 + equity 1,448,592 + all other 0 = 2,039,770, summed across the director compensation table rows.machine: formula: Σ = 2,039,770
27Silk 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
28NovoCure, Section 10b CEO totalDEF 14A2026-04-200001645113-26-000033CEO total compensation as printed in NovoCure's own proxy. As printed: 13,198,354. Filing ↗machine: r6 · c48 · span 880842–880852
29Abiomed, Section 10b CEO totalDEF 14A2022-06-280001193125-22-183958CEO total compensation as printed in Abiomed's own proxy. As printed: 12,665,992. Filing ↗machine: r2 · c32 · span 600762–600772
30Glaukos, 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
31Nevro, 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
32iRhythm 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
33AtriCure, 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
34ShockWave Medical, Section 10b CEO totalDEF 14A2023-04-210001642545-23-000025CEO total compensation as printed in ShockWave Medical's own proxy. As printed: 8,418,871. Filing ↗machine: r2 · c36 · span 675727–675736
35LivaNova, Section 10b CEO totalDEF 14A2026-04-290001104659-26-050937CEO total compensation as printed in LivaNova's own proxy. As printed: 8,047,217. Filing ↗machine: t117 · r3 · c50 · span 1095329–1095338
36Inspire Medical Systems, Section 10b CEO totalDEF 14A2026-03-200001140361-26-010490CEO total compensation as printed in Inspire Medical Systems's own proxy. As printed: 7,711,784. Filing ↗machine: r2 · c25 · span 1164868–1164877
37STAAR Surgical Company, Section 10b CEO totalDEF 14A2026-05-040000718937-26-000015CEO total compensation as printed in STAAR Surgical Company's own proxy. As printed: 7,522,385. Filing ↗machine: r3 · c16 · span 1045477–1045486
38Artivion, Section 10b CEO totalDEF 14A2026-04-010001999371-26-007510CEO total compensation as printed in Artivion's own proxy. As printed: 6,883,108. Filing ↗machine: r3 · c9 · span 741873–741882
39AngioDynamics, Section 10b CEO totalDEF 14A2025-09-250001628280-25-042704CEO total compensation as printed in AngioDynamics's own proxy. As printed: 5,494,285. Filing ↗machine: r2 · c27 · span 502542–502551
40Inari Medical, Inc. (subject), Section 10b CEO totalDEF 14A2024-03-130001193125-24-066805CEO total compensation as printed in Inari Medical, Inc.'s own proxy. As printed: 5,083,365. Filing ↗machine: r2 · c31 · span 454508–454517
41Penumbra, Section 10b CEO totalDEF 14A2026-04-290001321732-26-000010CEO total compensation as printed in Penumbra's own proxy. As printed: 851,621. Filing ↗machine: span 424797–424804
42Section 10a, Artivion reciprocityDEF 14A—0001999371-26-007510Artivion's most recent proxy was read; its disclosed peer group does not include Inari Medical, Inc.. Filing ↗
43Section 10a, AngioDynamics reciprocityDEF 14A—0001628280-25-042704AngioDynamics's most recent proxy was read; its disclosed peer group does not include Inari Medical, Inc.. Filing ↗
44Section 10a, Glaukos reciprocityDEF 14A—0001193125-26-157829Glaukos's most recent proxy was read; its disclosed peer group does not include Inari Medical, Inc.. Filing ↗
45Section 10a, Nevro reciprocityDEF 14A—0000950170-24-044100Nevro's most recent proxy was read; its disclosed peer group does not include Inari Medical, Inc.. Filing ↗
46Section 10a, NovoCure reciprocityDEF 14A—0001645113-26-000033NovoCure's most recent proxy was read; its disclosed peer group does not include Inari Medical, Inc.. Filing ↗
47Section 10a, Silk Road Medical reciprocityDEF 14A—0001397702-24-000024Silk Road Medical's most recent proxy was read; its disclosed peer group does not include Inari Medical, Inc.. Filing ↗
48Section 10a, Inspire Medical Systems reciprocityDEF 14A—0001140361-26-010490Inspire Medical Systems's most recent proxy was read; its disclosed peer group does not include Inari Medical, Inc.. Filing ↗
49Section 10a, ShockWave Medical reciprocityDEF 14A—0001642545-23-000025ShockWave Medical's most recent proxy was read; its disclosed peer group does not include Inari Medical, Inc.. Filing ↗
50Section 10a, Abiomed reciprocityDEF 14A—0001193125-22-183958Abiomed's most recent proxy was read; its disclosed peer group does not include Inari Medical, Inc.. Filing ↗
51Section 10a, Penumbra reciprocityDEF 14A—0001321732-26-000010Penumbra's most recent proxy was read; its disclosed peer group does not include Inari Medical, Inc.. Filing ↗
52Section 10a, iRhythm Technologies reciprocityDEF 14A—0001388658-26-000030iRhythm Technologies's most recent proxy was read; its disclosed peer group does not include Inari Medical, Inc.. Filing ↗
53Section 10a, LivaNova reciprocityDEF 14A—0001104659-26-050937LivaNova's most recent proxy was read; its disclosed peer group does not include Inari Medical, Inc.. Filing ↗
54Section 10a, AtriCure reciprocityDEF 14A—0001323885-26-000010AtriCure's most recent proxy was read; its disclosed peer group does not include Inari Medical, Inc.. Filing ↗
55Section 10a, STAAR Surgical Company reciprocityDEF 14A—0000718937-26-000015STAAR Surgical Company's most recent proxy was read; its disclosed peer group does not include Inari Medical, Inc.. Filing ↗

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