Companies Pacs Group, Inc.
Pacs (PACS): executive pay, fiscal 2025
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CEO pay, last three years
- $5,056,976FY2023
- $5,039,085FY2024
- $17,071,124FY2025
CEO total pay was $17,071,124 in fiscal 2025, up from $5,039,085 in fiscal 2024.
FY2025: salary $500,000 · bonus $914,518 · stock awards $8,358,504 · option awards $0
Executives and directors
Frequently asked questions
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.
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 |
|---|---|---|---|---|---|---|---|---|
| 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.
Three-year trend — total compensation per named executive
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Jason Murray | $17,071,124 | $5,039,085 | $5,056,976 | ↑ +12,032,039 |
| Josh Jergensen | 16,375,582 | 68,886,028 | 8,356,829 | ↓ −52,510,446 |
| Mark Hancock | 15,337,124 | 5,039,085 | 5,056,976 | ↑ +10,298,039 |
| 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.
Incentive-plan design — the Compensation Discussion & Analysis
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 |
Equity grants and outstanding awards
No plan-based awards are on file for this fiscal year.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Michelle Lewis | RSU | 19,127 | — | $734,286 |
| John Mitchell | RSU | 21,855 | — | 839,013 |
| Michelle Lewis | RSU | 32,500 | — | 1,247,675 |
| Jason Murray | RSU | 41,018 | — | 1,574,681 |
| Mark Hancock | RSU | 41,018 | — | 1,574,681 |
| Josh Jergensen | RSU | 41,018 | — | 1,574,681 |
| John Mitchell | RSU | 100,000 | — | 3,839,000 |
| Mark Hancock | RSU | 150,000 | — | 5,758,500 |
| Josh Jergensen | RSU | 175,000 | — | 6,718,250 |
| Jason Murray | RSU | 200,000 | — | 7,678,000 |
| Michelle Lewis | RSU | 225,228 | — | 8,646,503 |
| John Mitchell | RSU | 675,684 | — | 25,939,509 |
| Josh Jergensen | RSU | 1,801,824 | — | 69,172,023 |
Director compensation
| 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 |
Board fee structure and ownership guideline
| 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 | — |
Total cost of the board
| 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.
Peer group, and who names Pacs as a peer
Companies that benchmark against PACS
4 companies name PACS as a compensation peer
- BrightSpring Health Services, Inc.BTSGFY2025
- Encompass Health CorpEHCFY2025
- ENSIGN GROUP, INCENSGFY2025
- RadNet, Inc.RDNTFY2025
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.
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
The companies Pacs Group, Inc. names as compensation peers that name it back in their own disclosed peer groups.
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 | Pacs Group, Inc. | 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.
Incentive design against the same peers
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Pacs Group, Inc. | 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.
Say-on-pay history and pay ratio
| 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.
Say-on-pay — history, company’s computation
| 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.
CEO pay ratio
| Ratio (CEO : median employee) | 390 : 1 |
|---|---|
| CEO total compensation | $17,071,124 |
| Median employee compensation | $43,765 |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (25 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, Jason Murray. DEF 14A, filed 2026-04-28. Section “Executive Compensation Tables” · page 35. As printed: 17,071,124. View filing ↗
- Section 01, Josh Jergensen. DEF 14A, filed 2026-04-28. Section “Executive Compensation Tables” · page 35. As printed: 16,375,582. View filing ↗
- Section 01, Mark Hancock. DEF 14A, filed 2026-04-28. Section “Executive Compensation Tables” · page 35. As printed: 15,337,124. View filing ↗
- Section 01, John Mitchell. DEF 14A, filed 2026-04-28. Section “Executive Compensation Tables” · page 35. As printed: 9,645,521. View filing ↗
- Section 01, Michelle Lewis. DEF 14A, filed 2026-04-28. Section “Executive Compensation Tables” · page 35. As printed: 6,594,180. View filing ↗
- Section 01, Derick Apt. DEF 14A, filed 2026-04-28. Section “Executive Compensation Tables” · page 35. As printed: 4,251,653. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-04-28. Section “CEO Pay Ratio”. As printed: 390 : 1. View filing ↗
- Section 08, Jacqueline Millard. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 281,242. View filing ↗
- Section 08, Taylor Leavitt. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 277,492. View filing ↗
- Section 08, Evelyn Dilsaver. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 276,242. View filing ↗
- Section 08, Jason Murray. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, Patrick H. Conway. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, Mark Hancock. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-06-15. Item 5.07 · say-on-pay result. As reported: 90.42% (votes for as printed: 131,950,911). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-12-23. Item 5.07 · say-on-pay result. As reported: 97.46% (votes for as printed: 139,426,668). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 09b board cost (computed). Computed. Cash 355,000 + equity 479,976 + all other 0 = 834,976, summed across the director compensation table rows.
- Pacs Group, Inc. (subject), Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in Pacs Group, Inc.'s own proxy. As printed: 17,071,124. View filing ↗
- Ensign Group, Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in Ensign Group's own proxy. As printed: 13,804,700. View filing ↗
- Chemed, Section 10b CEO total. DEF 14A, filed 2026-04-09. CEO total compensation as printed in Chemed's own proxy. As printed: 12,904,720. View filing ↗
- Addus HomeCare Corporation, Section 10b CEO total. DEF 14A, filed 2026-04-23. CEO total compensation as printed in Addus HomeCare Corporation's own proxy. As printed: 12,190,449. View filing ↗
- Acadia Healthcare Company, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-25. CEO total compensation as printed in Acadia Healthcare Company, Inc.'s own proxy. As printed: 7,909,463. View filing ↗
- ATI Physical Therapy, Section 10b CEO total. DEF 14A, filed 2026-04-16. CEO total compensation as printed in ATI Physical Therapy's own proxy. As printed: 4,468,314. View filing ↗
- National HealthCare, Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in National HealthCare's own proxy. As printed: 2,685,370. View filing ↗
- Section 10a, Ensign Group reciprocity. DEF 14A. Ensign Group names Pacs Group, Inc. in its own disclosed peer group (read from its most recent proxy). View filing ↗