CEO Jason Murray was paid $17,071,124 in fiscal year 2025, ↑ up 285.7% from fiscal year 2024, the 99th percentile of its disclosed peer group (SEC filing 0002001184-26-000014 ↗): 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.
$17,071,124 ↑ Jason Murray total, FY2025 | 99th CEO pay percentile vs peers | 390:1 CEO-to-median pay ratio | 90.42% Say-on-pay support, latest vote |
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| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Jason Murray | $500,000 | $914,518 | $8,358,504 | $0 | $7,272,332 | $0 | $25,770 | $17,071,124 |
| Director, Co-Founder, Chief Executive Officer and Chairman | ||||||||
| Josh Jergensen | 524,600 | 914,518 | 7,491,504 | 0 | 7,272,332 | 147,114 | 25,514 | 16,375,582 |
| President and Chief Operating Officer | ||||||||
| Mark Hancock | 500,000 | 914,518 | 6,624,504 | 0 | 7,272,332 | 0 | 25,770 | 15,337,124 |
| Director, Co-Founder, Executive Vice Chairman and former interim Chief Financial Officer | ||||||||
| John Mitchell | 424,600 | 987,743 | 4,225,931 | 0 | 3,878,577 | 90,645 | 38,024 | 9,645,521 |
| Chief Legal Officer and Secretary | ||||||||
| Michelle Lewis | 446,624 | 926,774 | 1,790,424 | 0 | 3,393,755 | 0 | 36,602 | 6,594,180 |
| Chief Accounting Officer | ||||||||
| Derick Apt | 404,882 | 0 | 0 | 0 | 3,703,891 | 102,469 | 40,411 | 4,251,653 |
| Former 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.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Jason Murray | $17,071,124 | $4,425,575 | $5,056,976 | ↑ +12,645,549 |
| Josh Jergensen | 16,375,582 | 68,886,028 | 8,356,829 | ↓ −52,510,446 |
| Mark Hancock | 15,337,124 | 4,425,575 | 5,056,976 | ↑ +10,911,549 |
| John Mitchell | 9,645,521 | 26,625,038 | — | ↓ −16,979,517 |
| Michelle Lewis | 6,594,180 | — | — | — |
| Derick Apt | 4,251,653 | 32,233,178 | 5,896,616 | ↓ −27,981,525 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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Each company listed discloses PACS 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 PACS in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.
| Executive | Role | FY2025 total |
|---|---|---|
| Jason Murray | CEO | $17,071,124 |
| John Mitchell | General Counsel | $9,645,521 |
| Josh Jergensen | President | $16,375,582 |
| Mark Hancock | Executive | $15,337,124 |
| Michelle Lewis | Chief Accounting Officer | $6,594,180 |
| Derick Apt | CFO | $4,251,653 |
One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2025 total |
|---|---|---|
| Evelyn Dilsaver | Independent Director | $276,242 |
| Jacqueline Millard | Independent Director | $281,242 |
| Patrick H. Conway | Independent Director | — |
| Taylor Leavitt | Lead Independent Director | $277,492 |
No insider equity transactions reported since the proxy statement.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Jason Murray | RSU | 41,018 | — | $1,574,681 |
| Jason Murray | RSU | 200,000 | — | 7,678,000 |
| Michelle Lewis | RSU | 19,127 | — | 734,286 |
| Josh Jergensen | RSU | 1,801,824 | — | 69,172,023 |
| Michelle Lewis | RSU | 225,228 | — | 8,646,503 |
| Mark Hancock | RSU | 150,000 | — | 5,758,500 |
| John Mitchell | RSU | 675,684 | — | 25,939,509 |
| John Mitchell | RSU | 21,855 | — | 839,013 |
| Mark Hancock | RSU | 41,018 | — | 1,574,681 |
| Josh Jergensen | RSU | 41,018 | — | 1,574,681 |
| Michelle Lewis | RSU | 32,500 | — | 1,247,675 |
| Josh Jergensen | RSU | 175,000 | — | 6,718,250 |
| John Mitchell | RSU | 100,000 | — | 3,839,000 |
The executive compensation program is designed to motivate, reward, attract, and retain high-caliber management by aligning compensation with short- and long-term business objectives, strategy, and financial performance. The program emphasizes performance-based, at-risk compensation and uses equity to promote retention and long-term value creation.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Pearl Meyer |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-10 | 131,950,911 | 13,973,853 | 25,571 | 90.42% | Passed |
| 2025 | 2025-12-19 | 139,426,668 | 3,632,640 | 12,109 | 97.46% | 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.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-06-10 | 90.42%a |
| 2025 | 2025-12-19 | 97.46%b |
a. Approved under the standard stated in the filing — “Abstentions are not considered to be votes cast and, accordingly, will have no effect on the outcome of the vote on this proposal.”.
b. Approved under the standard stated in the filing — “Abstentions are not considered to be votes cast and, accordingly, will have no effect on the outcome of the vote on this proposal.”.
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.
| Ratio (CEO : median employee) | 390 : 1 |
|---|---|
| CEO total compensation | $17,071,124 |
| Median employee compensation | $43,765 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Jacqueline MillardIndependent · Audit (Chair) · Compensation · Nominating and Corporate Governance | $121,250 | $159,992 | — | — | — | $281,242 |
| Taylor LeavittIndependent · Lead Independent Director · Audit · Compensation · Nominating and Corporate Governance | 117,500 | 159,992 | — | — | — | 277,492 |
| Evelyn DilsaverIndependent · Audit · Compensation · Nominating and Corporate Governance (Chair) | 116,250 | 159,992 | — | — | — | 276,242 |
| Jason MurrayEmployee director · Board Chair | — | — | — | — | — | 0 |
| Patrick H. ConwayIndependent · Newly elected | 0 | 0 | 0 | 0 | 0 | 0 |
| Mark HancockEmployee director | — | — | — | — | — | 0 |
| Annual cash retainer | $80,000 |
|---|---|
| Annual equity retainer | $160,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 25,000 / 17,500 / 15,000 |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $355,000 |
| Equity awards (grant-date value) | $479,976 |
| All other compensation | $0 |
| Total cost of the board | $834,976 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Of the companies PACS Group 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 PACS 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 | PACS Group | 2025 | Jason Murray | $500,000 | $8,358,504 | $0 | $7,272,332 | $17,071,124 |
| 2 | Ensign Group | 2025 | Barry Port | 549,264 | 2,912,355 | 0 | 10,317,247 | 13,804,700 |
| 3 | Chemed | 2025 | Kevin McNamara | 1,858,792 | 2,883,553 | 5,036,021 | 1,486,976 | 12,904,720 |
| 4 | Addus HomeCare Corporation | 2025 | R. Dirk Allison | 1,076,923 | 9,767,870 | 0 | 1,320,000 | 12,190,449 |
| 5 | Acadia Healthcare Company, Inc. | 2025 | Christopher Hunter | 1,061,000 | 5,712,012 | 0 | 1,135,270 | 7,909,463 |
| 6 | ATI Physical Therapy | 2025 | Christopher Reading | 1,003,125 | 1,955,250 | 0 | 1,506,375 | 4,468,314 |
| 7 | National HealthCare | 2025 | Stephen Flatt | 577,000 | 505,215 | 300,481 | 1,280,000 | 2,685,370 |
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.
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| PACS Group | not disclosed | RSU 100 | not disclosed | Pearl Meyer |
| Acadia Healthcare Company, Inc. | 85.6% | PSU 50 · RSU 50 | No | WTW |
| Addus HomeCare Corporation | not disclosed | Restricted Stock 100 | not disclosed | FW Cook |
| ATI Physical Therapy | not disclosed | not disclosed | not disclosed | Meridian Compensation Partners, LLC |
| Chemed | not disclosed | not disclosed | Yes — 3-Year Relative Total Shareholder Return (TSR) | Compensation Strategies, Inc. |
| Ensign Group | not disclosed | not disclosed | not disclosed | Willis Towers Watson |
| National HealthCare | not disclosed | not disclosed | not disclosed | false |
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.
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.
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.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Jason Murray | DEF 14A | 2026-04-28 | 0002001184-26-000014 | Section “Executive Compensation Tables” · page 35. As printed: 17,071,124. Filing ↗machine: r4 · c27 · span 463864–463874 |
| 2 | Section 01, Josh Jergensen | DEF 14A | 2026-04-28 | 0002001184-26-000014 | Section “Executive Compensation Tables” · page 35. As printed: 16,375,582. Filing ↗machine: r13 · c27 · span 482869–482879 |
| 3 | Section 01, Mark Hancock | DEF 14A | 2026-04-28 | 0002001184-26-000014 | Section “Executive Compensation Tables” · page 35. As printed: 15,337,124. Filing ↗machine: r7 · c27 · span 470329–470339 |
| 4 | Section 01, John Mitchell | DEF 14A | 2026-04-28 | 0002001184-26-000014 | Section “Executive Compensation Tables” · page 35. As printed: 9,645,521. Filing ↗machine: r16 · c27 · span 489001–489010 |
| 5 | Section 01, Michelle Lewis | DEF 14A | 2026-04-28 | 0002001184-26-000014 | Section “Executive Compensation Tables” · page 35. As printed: 6,594,180. Filing ↗machine: r18 · c27 · span 493374–493383 |
| 6 | Section 01, Derick Apt | DEF 14A | 2026-04-28 | 0002001184-26-000014 | Section “Executive Compensation Tables” · page 35. As printed: 4,251,653. Filing ↗machine: r10 · c27 · span 476457–476466 |
| 7 | Section 07, pay ratio | DEF 14A | 2026-04-28 | 0002001184-26-000014 | Section “CEO Pay Ratio”. As printed: 390 : 1. Filing ↗ |
| 8 | Section 08, Jacqueline Millard | DEF 14A | 2026-04-28 | 0002001184-26-000014 | Section “Director Compensation”. As printed: 281,242. Filing ↗machine: span 775733–775862 |
| 9 | Section 08, Taylor Leavitt | DEF 14A | 2026-04-28 | 0002001184-26-000014 | Section “Director Compensation”. As printed: 277,492. Filing ↗machine: span 777034–777163 |
| 10 | Section 08, Evelyn Dilsaver | DEF 14A | 2026-04-28 | 0002001184-26-000014 | Section “Director Compensation”. As printed: 276,242. Filing ↗machine: span 774588–774717 |
| 11 | Section 08, Jason Murray | DEF 14A | 2026-04-28 | 0002001184-26-000014 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 12 | Section 08, Patrick H. Conway | DEF 14A | 2026-04-28 | 0002001184-26-000014 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 13 | Section 08, Mark Hancock | DEF 14A | 2026-04-28 | 0002001184-26-000014 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 14 | Section 06, 2026 vote | Form 8-K | 2026-06-15 | 0002001184-26-000026 | Item 5.07 · say-on-pay result. As reported: 90.42% (votes for as printed: 131,950,911). Filing ↗ |
| 15 | Section 06, 2025 vote | Form 8-K | 2025-12-23 | 0002001184-25-000084 | Item 5.07 · say-on-pay result. As reported: 97.46% (votes for as printed: 139,426,668). Filing ↗ |
| 16 | Section 01 trend, Δ column (computed) | Computed | — | — | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 17 | Section 09b board cost (computed) | Computed | — | — | Cash 355,000 + equity 479,976 + all other 0 = 834,976, summed across the director compensation table rows.machine: formula: Σ = 834,976 |
| 18 | PACS Group (subject), Section 10b CEO total | DEF 14A | 2026-04-28 | 0002001184-26-000014 | CEO total compensation as printed in PACS Group's own proxy. As printed: 17,071,124. Filing ↗machine: r4 · c27 · span 463864–463874 |
| 19 | Ensign Group, Section 10b CEO total | DEF 14A | 2026-04-02 | 0001125376-26-000014 | CEO total compensation as printed in Ensign Group's own proxy. As printed: 13,804,700. Filing ↗machine: span 521316–521326 |
| 20 | Chemed, Section 10b CEO total | DEF 14A | 2026-04-09 | 0001562762-26-000052 | CEO total compensation as printed in Chemed's own proxy. As printed: 12,904,720. Filing ↗ |
| 21 | Addus HomeCare Corporation, Section 10b CEO total | DEF 14A | 2026-04-23 | 0001437749-26-013190 | CEO total compensation as printed in Addus HomeCare Corporation's own proxy. As printed: 12,190,449. Filing ↗machine: r2 · c24 · span 429879–429889 |
| 22 | Acadia Healthcare Company, Inc., Section 10b CEO total | DEF 14A | 2026-03-25 | 0001140361-26-011130 | CEO total compensation as printed in Acadia Healthcare Company, Inc.'s own proxy. As printed: 7,909,463. Filing ↗ |
| 23 | ATI Physical Therapy, Section 10b CEO total | DEF 14A | 2026-04-16 | 0001140361-26-014952 | CEO total compensation as printed in ATI Physical Therapy's own proxy. As printed: 4,468,314. Filing ↗ |
| 24 | National HealthCare, Section 10b CEO total | DEF 14A | 2026-04-02 | 0001140361-26-013005 | CEO total compensation as printed in National HealthCare's own proxy. As printed: 2,685,370. Filing ↗machine: r9 · c24 · span 312689–312698 |
| 25 | Section 10a, Chemed reciprocity | DEF 14A | — | 0001562762-26-000052 | Chemed's most recent proxy was read; its disclosed peer group does not include PACS Group. Filing ↗ |
| 26 | Section 10a, Addus HomeCare Corporation reciprocity | DEF 14A | — | 0001437749-26-013190 | Addus HomeCare Corporation's most recent proxy was read; its disclosed peer group does not include PACS Group. Filing ↗ |
| 27 | Section 10a, ATI Physical Therapy reciprocity | DEF 14A | — | 0001140361-26-014952 | ATI Physical Therapy's most recent proxy was read; its disclosed peer group does not include PACS Group. Filing ↗ |
| 28 | Section 10a, Ensign Group reciprocity | DEF 14A | — | 0001125376-26-000014 | Ensign Group names PACS Group in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 29 | Section 10a, Acadia Healthcare Company, Inc. reciprocity | DEF 14A | — | 0001140361-26-011130 | Acadia Healthcare Company, Inc.'s most recent proxy was read; its disclosed peer group does not include PACS Group. Filing ↗ |