Companies Pulmonx
Pulmonx (LUNG): executive pay, fiscal 2025
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CEO pay, last three years
- $330,786FY2024
- $3,543,520FY2025
CEO total pay was $3,543,520 in fiscal 2025, up from $330,786 in fiscal 2024.
FY2025: salary $116,186 · bonus $50,000 · stock awards $3,224,000 · option awards $0
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 |
|---|---|---|---|---|---|---|---|---|
| Steven Williamson | $493,462 | — | $2,259,390 | $752,383 | $0 | $0 | $691,175 | $4,196,408 |
| Former Chief Executive Officer | ||||||||
| Glendon French | 116,186 | 50,000 | 3,224,000 | 0 | 0 | 0 | 153,334 | 3,543,520 |
| Chief Executive Officer | ||||||||
| Derrick Sung | 83,333 | 200,000 | 2,668,000 | 0 | 0 | 0 | 58 | 2,951,391 |
| Chief Operating Officer and Chief Financial Officer | ||||||||
| Mehul Joshi | 381,199 | 0 | 1,193,760 | 0 | 0 | 0 | 408,802 | 1,983,761 |
| Former Chief Financial Officer | ||||||||
| David Lehman | 472,400 | 0 | 1,193,760 | 0 | 43,791 | 0 | 452 | 1,710,404 |
| General Counsel | ||||||||
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 |
|---|---|---|---|---|
| Steven Williamson | $4,196,408 | $5,234,479 | — | ↓ −1,038,071 |
| Glendon French | 3,543,520 | 330,786 | — | ↑ +3,212,734 |
| Derrick Sung | 2,951,391 | — | — | — |
| Mehul Joshi | 1,983,761 | 3,244,400 | — | ↓ −1,260,639 |
| David Lehman | 1,710,404 | 1,485,132 | — | ↑ +225,272 |
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's compensation program is designed to align the interests of executives with those of stockholders by tying performance metrics to company performance, utilizing multi-year vesting requirements for equity awards, and maintaining an independent compensation committee. The program focuses on driving long-term value through a mix of base salary, annual cash performance bonuses, and equity-based compensation, including the recent introduction of performance-based restricted stock units (PSUs).
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Frederic W. Cook & Co., Inc. |
| 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 |
|---|---|---|---|---|---|---|---|
| Steven Williamson | OPTION | 2025-03-03 | — | — | 21,399 | — | $752,383 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Steven Williamson | $0 | $0 | $752,383 | 0.0% |
% 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 |
|---|---|---|---|---|
| David Lehman | RSU | 1,938 | — | $4,283 |
| David Lehman | Option | 4,294 | 26.56 | — |
| Glendon French | RSU | 4,357 | — | 9,629 |
| Glendon French | Option | 9,663 | 26.56 | — |
| David Lehman | PSU | 18,000 | — | 39,780 |
| David Lehman | Option | 19,407 | 9.3 | — |
| David Lehman | Option | 25,313 | 11.48 | — |
| David Lehman | RSU | 36,969 | — | 81,701 |
| Glendon French | RSU | 37,153 | — | 82,108 |
| David Lehman | RSU | 38,869 | — | 85,900 |
| Glendon French | RSU | 54,219 | — | 119,824 |
| David Lehman | RSU | 87,750 | — | 193,928 |
| Glendon French | Option | 111,344 | 11.48 | — |
| Derrick Sung | PSU | 400,000 | — | 884,000 |
| Glendon French | PSU | 800,000 | — | 1,768,000 |
| Glendon French | RSU | 1,200,000 | — | 2,652,000 |
| Derrick Sung | RSU | 1,200,000 | — | 2,652,000 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Dana G. Mead JrIndependent · Board Chair · Audit | $95,000 | $116,289 | — | — | — | $211,289 |
| Daniel P. FlorinIndependent · Audit (Chair) · Compensation | 72,500 | 116,289 | — | — | — | 188,789 |
| Richard M. FerrariIndependent · Compensation (Chair) · Nominating and Corporate Governance | 65,000 | 116,289 | — | — | — | 181,289 |
| Georgia Garinois-MelenikiotouIndependent · Audit · Nominating and Corporate Governance (Chair) | 65,000 | 116,289 | — | — | — | 181,289 |
| Thomas W. BurnsIndependent · Compensation | 52,500 | 116,289 | — | — | — | 168,789 |
| Tiffany SullivanIndependent · Nominating and Corporate Governance | 50,000 | 116,289 | — | — | — | 166,289 |
Board fee structure and ownership guideline
| Annual cash retainer | $45,000 |
|---|---|
| Annual equity retainer | $125,000 |
| 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 | $400,000 |
| Equity awards (grant-date value) | $697,734 |
| All other compensation | $0 |
| Total cost of the board | $1,097,734 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Pulmonx as a peer
Companies that benchmark against LUNG
3 companies name LUNG as a compensation peer
- Outset Medical, Inc.OMFY2025
- SI-BONE, Inc.SIBNFY2025
- SURMODICS INCSRDXFY2024
- SURMODICS INCSRMDFY2024
Each company listed discloses LUNG 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 LUNG in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
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 Pulmonx 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 Pulmonx.
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 | Silk Road Medical | 2023 | Chas McKhann | $105,871 | $13,123,059 | $0 | $93,275 | $13,423,834 |
| 2 | Nevro | 2023 | Kevin Thornal | 515,625 | 10,080,173 | 0 | 402,750 | 11,453,548 |
| 3 | AxoGen | 2025 | Michael Dale | 775,865 | 7,342,895 | 0 | 906,133 | 9,047,454 |
| 4 | Delcath Systems | 2025 | Gerard Michel | 635,707 | 0 | 4,774,551 | 355,000 | 5,765,258 |
| 5 | CVRx | 2025 | Kevin Hykes | 660,533 | 1,270,080 | 1,516,896 | 444,492 | 3,905,801 |
| 6 | LeMaitre Vascular | 2025 | George LeMaitre | 806,347 | 1,050,000 | 1,050,000 | 680,015 | 3,780,990 |
| 7 | Pulmonx | 2025 | Glendon French | 116,186 | 3,224,000 | 0 | 0 | 3,543,520 |
| 8 | Tactile Systems Technology | 2025 | Sheri Dodd | 675,000 | 2,019,978 | 0 | 737,438 | 3,466,916 |
| 9 | Senseonics | 2025 | Timothy Goodnow | 635,000 | 1,022,500 | 1,022,500 | 613,000 | 3,347,959 |
| 10 | OrthoPediatrics | 2025 | David Bailey | 550,000 | 2,445,200 | 0 | 322,281 | 3,331,481 |
| 11 | NeuroPace | 2025 | Joel Becker | 567,567 | 587,340 | 701,850 | 551,810 | 2,408,566 |
| 12 | Sight Sciences | 2025 | Paul Badawi | 659,000 | 1,000,000 | 0 | 334,607 | 2,005,608 |
| 13 | Electromed | 2026 | James Cunniff | 536,800 | 407,150 | 405,688 | 448,864 | 1,812,918 |
| — | ClearPoint Neuro | — | — | — | — | — | — | not 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.
Incentive design against the same peers
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Pulmonx | not disclosed | RSU 75 · PRSU 25 | not disclosed | Frederic W. Cook & Co., Inc. |
| AxoGen | 116.79% | PSU 50 · RSU 50 | No | Aon |
| ClearPoint Neuro | not disclosed | not disclosed | not disclosed | not disclosed |
| CVRx | Kevin Hykes: 84%; Robert John: 66%; Philip Adamson: 84%% | Stock Options 50 · RSUs 50 | not disclosed | Aon |
| Delcath Systems | 54.6% of base salary for CEO; 37.4% of base salary for CMO; 38.5% of base salary for COO% | Stock Options 100 | not disclosed | Frederick W. Cook & Co., Inc. |
| Electromed | not disclosed | not disclosed | not disclosed | not disclosed |
| LeMaitre Vascular | not disclosed | Option 50 · RSU 25 · PSU 25 | No | not disclosed |
| NeuroPace | not disclosed | not disclosed | not disclosed | Alpine, Inc. |
| Nevro | 53.7% | not disclosed | No | Aon |
| OrthoPediatrics | 78.2% | RSU 100 | not disclosed | NFP Compensation Consulting |
| Senseonics | not disclosed | not disclosed | not disclosed | Willis Towers Watson |
| Sight Sciences | not disclosed | RSU 100 | not disclosed | Compensia, Inc. |
| Silk Road Medical | not disclosed | PSU 50 · RSU 50 | Yes — Total Stockholder Return (TSR) relative to peer group | Compensia, Inc. |
| Tactile Systems Technology | 115% | PSU 50 · RSU 50 | No | Aon Consulting, Inc. |
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
No say-on-pay vote is on file for this company.
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (34 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, Steven Williamson. DEF 14A, filed 2026-04-22. Section “Executive Compensation”. As printed: 4,196,408. View filing ↗
- Section 01, Glendon French. DEF 14A, filed 2026-04-22. Section “Executive Compensation”. As printed: 3,543,520. View filing ↗
- Section 01, Derrick Sung. DEF 14A, filed 2026-04-22. Section “Executive Compensation”. As printed: 2,951,391. View filing ↗
- Section 01, Mehul Joshi. DEF 14A, filed 2026-04-22. Section “Executive Compensation”. As printed: 1,983,761. View filing ↗
- Section 01, David Lehman. DEF 14A, filed 2026-04-22. Section “Executive Compensation”. As printed: 1,710,404. View filing ↗
- Section 03, Steven Williamson OPTION. DEF 14A, filed 2026-04-22. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 08, Dana G. Mead Jr. DEF 14A, filed 2026-04-22. Section “Director Compensation”. As printed: 211,289. View filing ↗
- Section 08, Daniel P. Florin. DEF 14A, filed 2026-04-22. Section “Director Compensation”. As printed: 188,789. View filing ↗
- Section 08, Richard M. Ferrari. DEF 14A, filed 2026-04-22. Section “Director Compensation”. As printed: 181,289. View filing ↗
- Section 08, Georgia Garinois-Melenikiotou. DEF 14A, filed 2026-04-22. Section “Director Compensation”. As printed: 181,289. View filing ↗
- Section 08, Thomas W. Burns. DEF 14A, filed 2026-04-22. Section “Director Compensation”. As printed: 168,789. View filing ↗
- Section 08, Tiffany Sullivan. DEF 14A, filed 2026-04-22. Section “Director Compensation”. As printed: 166,289. 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 400,000 + equity 697,734 + all other 0 = 1,097,734, summed across the director compensation table rows.
- Silk Road Medical, Section 10b CEO total. DEF 14A, filed 2024-04-26. CEO total compensation as printed in Silk Road Medical's own proxy. As printed: 13,423,834. View filing ↗
- Nevro, Section 10b CEO total. DEF 14A, filed 2024-04-12. CEO total compensation as printed in Nevro's own proxy. As printed: 11,453,548. View filing ↗
- AxoGen, Section 10b CEO total. DEF 14A, filed 2026-04-29. CEO total compensation as printed in AxoGen's own proxy. As printed: 9,047,454. View filing ↗
- Delcath Systems, Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in Delcath Systems's own proxy. As printed: 5,765,258. View filing ↗
- CVRx, Section 10b CEO total. DEF 14A, filed 2026-04-20. CEO total compensation as printed in CVRx's own proxy. As printed: 3,905,801. View filing ↗
- LeMaitre Vascular, Section 10b CEO total. DEF 14A, filed 2026-04-14. CEO total compensation as printed in LeMaitre Vascular's own proxy. As printed: 3,780,990. View filing ↗
- Pulmonx (subject), Section 10b CEO total. DEF 14A, filed 2026-04-22. CEO total compensation as printed in Pulmonx's own proxy. As printed: 3,543,520. View filing ↗
- Tactile Systems Technology, Section 10b CEO total. DEF 14A, filed 2026-03-25. CEO total compensation as printed in Tactile Systems Technology's own proxy. As printed: 3,466,916. View filing ↗
- Senseonics, Section 10b CEO total. DEF 14A, filed 2026-04-09. CEO total compensation as printed in Senseonics's own proxy. As printed: 3,347,959. View filing ↗
- OrthoPediatrics, Section 10b CEO total. DEF 14A, filed 2026-04-20. CEO total compensation as printed in OrthoPediatrics's own proxy. As printed: 3,331,481. View filing ↗
- NeuroPace, Section 10b CEO total. DEF 14A, filed 2026-04-21. CEO total compensation as printed in NeuroPace's own proxy. As printed: 2,408,566. View filing ↗
- Sight Sciences, Section 10b CEO total. DEF 14A, filed 2026-04-22. CEO total compensation as printed in Sight Sciences's own proxy. As printed: 2,005,608. View filing ↗
- Electromed, Section 10b CEO total. DEF 14A, filed 2026-09-29. CEO total compensation as printed in Electromed's own proxy. As printed: 1,812,918. View filing ↗
- Section 10a, Nevro reciprocity. DEF 14A. Nevro's most recent proxy was read; its disclosed peer group does not include Pulmonx. View filing ↗
- Section 10a, AxoGen reciprocity. DEF 14A. AxoGen's most recent proxy was read; its disclosed peer group does not include Pulmonx. View filing ↗
- Section 10a, LeMaitre Vascular reciprocity. DEF 14A. LeMaitre Vascular's most recent proxy was read; its disclosed peer group does not include Pulmonx. View filing ↗
- Section 10a, Sight Sciences reciprocity. DEF 14A. Sight Sciences's most recent proxy was read; its disclosed peer group does not include Pulmonx. View filing ↗
- Section 10a, Tactile Systems Technology reciprocity. DEF 14A. Tactile Systems Technology's most recent proxy was read; its disclosed peer group does not include Pulmonx. View filing ↗
- Section 10a, Silk Road Medical reciprocity. DEF 14A. Silk Road Medical's most recent proxy was read; its disclosed peer group does not include Pulmonx. View filing ↗