CEO Keith Sullivan was paid $4,365,064 in fiscal year 2025, ↑ up 79.6% from fiscal year 2024 (SEC filing 0001140361-26-013997 ↗): 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.
$4,365,064 ↑ Keith Sullivan total, FY2025 | — CEO pay percentile vs peers | — CEO-to-median pay ratio | — Say-on-pay support, latest vote |
Track this company's pay every filing: join the Pro seat waitlist
Velarion Pro: every company page, peer tools and exports, one seat — $1,200/year
Ask our research desk — $99, 24h, every figure cited to its filing.
STIM's next annual pay disclosure, estimated April 9, 2027.est. Filing ↗
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Keith Sullivan | $728,000 | $0 | $3,208,750 | $0 | $412,776 | $0 | $15,538 | $4,365,064 |
| President and Chief Executive Officer | ||||||||
| Steven Pfanstiel | 221,818 | 27,945 | 2,036,749 | 0 | 45,271 | 0 | 0 | 2,331,784 |
| Executive Vice President, Chief Financial Officer, and Treasurer | ||||||||
| W. Andrew Macan | 463,500 | 69,525 | 1,461,974 | 0 | 93,859 | 0 | 25,661 | 2,114,519 |
| Executive Vice President, Chief Legal Officer, and Corporate Secretary | ||||||||
| Stephen Furlong | 281,867 | 0 | 936,600 | 0 | 0 | 0 | 0 | 1,218,467 |
| Executive Vice President, Chief Financial Officer , and Treasurer | ||||||||
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 |
|---|---|---|---|---|
| Keith Sullivan | $4,365,064 | $2,430,610 | — | ↑ +1,934,454 |
| Steven Pfanstiel | 2,331,784 | — | — | — |
| W. Andrew Macan | 2,114,519 | 1,059,526 | — | ↑ +1,054,993 |
| Stephen Furlong | 1,218,467 | 1,182,179 | — | ↑ +36,288 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
You have just read Neuronetics, Inc.'s Summary Compensation Table. The whole free brief as a PDF, emailed now, with every figure cited — then a few short notes on the deeper STIM reports.
We send the PDF right away, then up to three short notes. Reply “unsubscribe” to any of them, any time.
How we handle your data → Privacy
The list of companies that name STIM as a peer is temporarily unavailable — recheck shortly.
No insider equity transactions reported since the proxy statement.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| W. Andrew Macan | PRSU | 2025-10-01 | — | 101,250 | — | — | — |
| Stephen Furlong | RSU | 2025-02-01 | — | — | 157,500 | — | — |
| Stephen Furlong | PRSU | 2025-02-01 | — | 52,500 | — | — | — |
| W. Andrew Macan | RSU | 2025-02-01 | — | — | 157,500 | — | — |
| W. Andrew Macan | PRSU | 2025-02-01 | — | 52,500 | — | — | — |
| W. Andrew Macan | RSU | 2025-12-01 | — | — | 164,361 | — | — |
| Steven Pfanstiel | RSU | 2025-07-15 | — | — | 400,000 | — | — |
| Steven Pfanstiel | PRSU | 2025-08-01 | — | 75,000 | — | — | — |
| Steven Pfanstiel | RSU | 2025-12-01 | — | — | 170,212 | — | — |
| Keith Sullivan | PRSU | 2025-02-01 | — | 125,000 | — | — | — |
| Keith Sullivan | RSU | 2025-02-01 | — | — | 375,000 | — | — |
| Keith Sullivan | PRSU | 2025-10-01 | — | 337,500 | — | — | — |
Grant-level vehicle detail not disclosed.
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Keith Sullivan | RSU | 112,500 | — | $155,250 |
| W. Andrew Macan | RSU | 101,250 | — | 139,725 |
| W. Andrew Macan | RSU | 164,361 | — | 226,818 |
| W. Andrew Macan | RSU | 52,203 | — | 72,040 |
| W. Andrew Macan | RSU | 30,006 | — | 41,408 |
| W. Andrew Macan | RSU | 20,475 | — | 28,256 |
| W. Andrew Macan | RSU | 1,301 | — | 1,795 |
| Keith Sullivan | RSU | 337,500 | — | 465,750 |
| W. Andrew Macan | RSU | 35,002 | — | 48,303 |
| Keith Sullivan | RSU | 200,010 | — | 276,014 |
| Keith Sullivan | RSU | 250,000 | — | 345,000 |
| Keith Sullivan | RSU | 326,250 | — | 450,225 |
| Steven Pfanstiel | RSU | 200,000 | — | 276,000 |
| W. Andrew Macan | RSU | 137,025 | — | 189,095 |
| Steven Pfanstiel | RSU | 170,212 | — | 234,893 |
| Keith Sullivan | RSU | 100,000 | — | 138,000 |
| Keith Sullivan | RSU | 83,338 | — | 115,006 |
| W. Andrew Macan | RSU | 10,000 | — | 13,800 |
| Keith Sullivan | RSU | 95,000 | — | 131,126 |
| W. Andrew Macan | RSU | 8,701 | — | 12,007 |
| Keith Sullivan | Option | 900,000 | 1.98 | — |
| Steven Pfanstiel | RSU | 75,000 | — | 103,500 |
| Keith Sullivan | RSU | 48,750 | — | 67,275 |
| W. Andrew Macan | RSU | 33,750 | — | 46,575 |
| Steven Pfanstiel | RSU | 25,000 | — | 34,500 |
| W. Andrew Macan | RSU | 7,801 | — | 10,765 |
The Company designs its compensation program to motivate and reward executives to achieve or exceed financial and operating performance objectives, link compensation with specific business objectives, and align executive interests with stockholders. The program aims to attract and retain talented leaders, reward individual performance, and maintain competitive compensation packages relative to peers.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Alpine Rewards, LLC |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | false |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2023 | 2023-05-25 | — | — | — | — | — |
| 2022 | 2022-05-26 | — | — | — | — | — |
| 2021 | 2021-05-27 | — | — | — | — | — |
| 2020 | 2020-05-26 | — | — | — | — | — |
| 2019 | 2019-05-28 | — | — | — | — | — |
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 |
|---|---|---|
| 2023 | 2023-05-25 | —a |
| 2022 | 2022-05-26 | —b |
| 2021 | 2021-05-27 | —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.
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Robert A. CascellaIndependent · Board Chair | $123,592 | $144,638 | $0 | — | $0 | $268,229 |
| Glenn P. MuirIndependent · Audit (Chair) · Compensation | 84,407 | 119,700 | 0 | — | 0 | 204,107 |
| Sheryl L. ConleyIndependent · Audit · Compensation (Chair) | 81,909 | 119,700 | 0 | — | 0 | 201,609 |
| Megan R. RosengartenIndependent · Audit · Nominating and Corporate Governance (Chair) | 77,864 | 119,700 | 0 | — | 0 | 197,564 |
| Sasha S. CucuzIndependent · Audit · Nominating and Corporate Governance | 64,271 | 119,700 | 0 | — | 0 | 183,971 |
| Avinash N. Amin, M.DIndependent | 0 | 119,700 | 0 | — | 0 | 119,700 |
| Daniel L. ReuversEmployee director | — | — | — | — | — | 0 |
| Annual cash retainer | $55,000 |
|---|---|
| Annual equity retainer | $30,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 15,000 / 10,000 |
| Stock ownership guideline | $55,000 |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $432,043 |
| Equity awards (grant-date value) | $743,138 |
| All other compensation | $0 |
| Total cost of the board | $1,175,181 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
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 | Neuronetics, Inc. | 2025 | Keith Sullivan | $728,000 | $3,208,750 | $0 | $412,776 | $4,365,064 |
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.
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, Keith Sullivan | 10-K | 2026-04-09 | 0001140361-26-013997 | Section “Executive Compensation”. As printed: 4,365,064. Filing ↗machine: r2 · c24 · span 376175–376185 |
| 2 | Section 01, Steven Pfanstiel | 10-K | 2026-04-09 | 0001140361-26-013997 | Section “Executive Compensation”. As printed: 2,331,784. Filing ↗machine: r5 · c24 · span 389195–389205 |
| 3 | Section 01, W. Andrew Macan | 10-K | 2026-04-09 | 0001140361-26-013997 | Section “Executive Compensation”. As printed: 2,114,519. Filing ↗ |
| 4 | Section 01, Stephen Furlong | 10-K | 2026-04-09 | 0001140361-26-013997 | Section “Executive Compensation”. As printed: 1,218,467. Filing ↗machine: r7 · c24 · span 398547–398557 |
| 5 | Section 03, W. Andrew Macan PRSU | 10-K | 2026-04-09 | 0001140361-26-013997 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 480159–480166 |
| 6 | Section 03, Stephen Furlong RSU | 10-K | 2026-04-09 | 0001140361-26-013997 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 475017–475024 |
| 7 | Section 03, Stephen Furlong PRSU | 10-K | 2026-04-09 | 0001140361-26-013997 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 478041–478047 |
| 8 | Section 03, W. Andrew Macan RSU | 10-K | 2026-04-09 | 0001140361-26-013997 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 475026–475033 |
| 9 | Section 03, W. Andrew Macan PRSU | 10-K | 2026-04-09 | 0001140361-26-013997 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 478049–478055 |
| 10 | Section 03, W. Andrew Macan RSU | 10-K | 2026-04-09 | 0001140361-26-013997 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 477203–477210 |
| 11 | Section 03, Steven Pfanstiel RSU | 10-K | 2026-04-09 | 0001140361-26-013997 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 476529–476536 |
| 12 | Section 03, Steven Pfanstiel PRSU | 10-K | 2026-04-09 | 0001140361-26-013997 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 479192–479198 |
| 13 | Section 03, Steven Pfanstiel RSU | 10-K | 2026-04-09 | 0001140361-26-013997 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 477215–477222 |
| 14 | Section 03, Keith Sullivan PRSU | 10-K | 2026-04-09 | 0001140361-26-013997 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 478061–478068 |
| 15 | Section 03, Keith Sullivan RSU | 10-K | 2026-04-09 | 0001140361-26-013997 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 475039–475046 |
| 16 | Section 03, Keith Sullivan PRSU | 10-K | 2026-04-09 | 0001140361-26-013997 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 480180–480187 |
| 17 | Section 08, Robert A. Cascella | 10-K | 2026-04-09 | 0001140361-26-013997 | Section “Director Compensation”. As printed: 268,229. Filing ↗machine: span 860435–860615 |
| 18 | Section 08, Glenn P. Muir | 10-K | 2026-04-09 | 0001140361-26-013997 | Section “Director Compensation”. As printed: 204,107. Filing ↗machine: span 869648–869828 |
| 19 | Section 08, Sheryl L. Conley | 10-K | 2026-04-09 | 0001140361-26-013997 | Section “Director Compensation”. As printed: 201,609. Filing ↗machine: span 863634–863814 |
| 20 | Section 08, Megan R. Rosengarten | 10-K | 2026-04-09 | 0001140361-26-013997 | Section “Director Compensation”. As printed: 197,564. Filing ↗machine: span 872275–872454 |
| 21 | Section 08, Sasha S. Cucuz | 10-K | 2026-04-09 | 0001140361-26-013997 | Section “Director Compensation”. As printed: 183,971. Filing ↗machine: span 857748–857928 |
| 22 | Section 08, Avinash N. Amin, M.D | 10-K | 2026-04-09 | 0001140361-26-013997 | Section “Director Compensation”. As printed: 119,700. Filing ↗machine: span 866409–866632 |
| 23 | Section 08, Daniel L. Reuvers | 10-K | 2026-04-09 | 0001140361-26-013997 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 24 | Section 06, 2023 vote | Form 8-K | 2023-05-30 | 0001193125-23-156565 | Item 5.07 · say-on-pay result. As reported: —. Filing ↗ |
| 25 | Section 06, 2022 vote | Form 8-K | 2022-05-27 | 0001558370-22-009479 | Item 5.07 · say-on-pay result. As reported: —. Filing ↗ |
| 26 | Section 06, 2021 vote | Form 8-K | 2021-06-02 | 0001193125-21-178899 | Item 5.07 · say-on-pay result. As reported: —. Filing ↗ |
| 27 | 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) |
| 28 | Section 09b board cost (computed) | Computed | — | — | Cash 432,043 + equity 743,138 + all other 0 = 1,175,181, summed across the director compensation table rows.machine: formula: Σ = 1,175,181 |
| 29 | Neuronetics, Inc. (subject), Section 10b CEO total | 10-K | 2026-04-09 | 0001140361-26-013997 | CEO total compensation as printed in Neuronetics, Inc.'s own proxy. As printed: 4,365,064. Filing ↗machine: r2 · c24 · span 376175–376185 |
The Pay Desk — the free weekly executive pay briefing, one company at a time, every number traceable to a public filing.
You'll confirm on The Pay Desk's sign-up page.