Companies Zynex Inc
Zynex (ZYNX): executive pay, fiscal 2024
Free brief. Every figure links to the company’s own filing.
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CEO pay, last three years
- $1,358,833FY2022
- $1,217,895FY2023
- $991,810FY2024
CEO total pay was $991,810 in fiscal 2024, down from $1,217,895 in fiscal 2023.
FY2024: salary $700,000 · bonus $0 · stock awards $112,458 · option awards $0
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 |
|---|---|---|---|---|---|---|---|---|
| Thomas Sandgaard | $700,000 | $0 | $112,458 | $0 | $170,625 | $0 | $8,727 | $991,810 |
| President, Chief Executive Officer and Chairman | ||||||||
| Daniel Moorhead | 415,000 | 125,000 | 304,158 | 0 | 33,719 | 0 | 31,928 | 909,805 |
| Chief Financial Officer | ||||||||
| Anna Lucsok | 300,000 | 100,000 | 245,374 | 0 | 48,750 | 0 | 14,985 | 709,109 |
| Chief Operating 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 | FY2024 total | FY2023 total | FY2022 total | Δ FY2023→2024 |
|---|---|---|---|---|
| Thomas Sandgaard | $991,810 | $1,217,895 | $1,358,833 | ↓ −226,085 |
| Daniel Moorhead | 909,805 | 883,146 | 821,173 | ↑ +26,659 |
| Anna Lucsok | 709,109 | 714,398 | 600,332 | ↓ −5,289 |
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 executive compensation program is designed to attract, motivate, and retain key executives by providing competitive pay that balances cash and stock compensation, ties a significant portion of total compensation to business goals such as revenue and Adjusted EBITDA, and uses multi-year equity vesting to enhance retention without encouraging excessive risk-taking.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | true |
| Anti-hedging | false |
| Anti-pledging | false |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2024
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Thomas Sandgaard | RSU | 2024-04-30 | — | — | 2,563 | — | $28,116 |
| Anna Lucsok | RSU | 2024-07-30 | — | — | 1,104 | — | 9,075 |
| Anna Lucsok | RSU | 2024-07-27 | — | — | 5,000 | — | 41,700 |
| Daniel Moorhead | RSU | 2024-10-29 | — | — | 6,912 | — | 61,655 |
| Daniel Moorhead | RSU | 2024-06-05 | — | — | 5,000 | — | 48,200 |
| Thomas Sandgaard | RSU | 2024-07-30 | — | — | 2,760 | — | 22,687 |
| Daniel Moorhead | RSU | 2024-12-05 | — | — | 5,000 | — | 39,700 |
| Anna Lucsok | RSU | 2024-10-29 | — | — | 2,764 | — | 24,655 |
| Anna Lucsok | RSU | 2024-04-27 | — | — | 5,000 | — | 57,250 |
| Anna Lucsok | RSU | 2024-10-27 | — | — | 5,000 | — | 44,400 |
| Anna Lucsok | RSU | 2024-01-27 | — | — | 5,000 | — | 57,050 |
| Anna Lucsok | RSU | 2024-04-30 | — | — | 1,025 | — | 11,244 |
| Daniel Moorhead | RSU | 2024-09-05 | — | — | 5,000 | — | 39,450 |
| Daniel Moorhead | RSU | 2024-03-05 | — | — | 5,000 | — | 64,350 |
| Daniel Moorhead | RSU | 2024-07-30 | — | — | 2,760 | — | 22,687 |
| Daniel Moorhead | RSU | 2024-04-30 | — | — | 2,563 | — | 28,116 |
| Thomas Sandgaard | RSU | 2024-10-29 | — | — | 6,912 | — | 61,655 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Thomas Sandgaard | $112,458 | $0 | $0 | 0.0% |
| Anna Lucsok | 245,374 | 0 | 0 | 0.0% |
| Daniel Moorhead | 304,158 | 0 | 0 | 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 2024
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Anna Lucsok | RSU | 249 | — | $1,994 |
| Anna Lucsok | RSU | 295 | — | 2,363 |
| Thomas Sandgaard | RSU | 623 | — | 4,990 |
| Daniel Moorhead | RSU | 623 | — | 4,990 |
| Thomas Sandgaard | RSU | 737 | — | 5,903 |
| Daniel Moorhead | RSU | 737 | — | 5,903 |
| Anna Lucsok | RSU | 768 | — | 6,152 |
| Anna Lucsok | RSU | 913 | — | 7,313 |
| Anna Lucsok | RSU | 966 | — | 7,738 |
| Anna Lucsok | RSU | 1,375 | — | 11,014 |
| Daniel Moorhead | RSU | 1,375 | — | 11,014 |
| Anna Lucsok | RSU | 1,835 | — | 14,698 |
| Thomas Sandgaard | RSU | 1,922 | — | 15,395 |
| Daniel Moorhead | RSU | 1,922 | — | 15,395 |
| Thomas Sandgaard | RSU | 2,283 | — | 18,287 |
| Daniel Moorhead | RSU | 2,283 | — | 18,287 |
| Thomas Sandgaard | RSU | 2,415 | — | 19,344 |
| Daniel Moorhead | RSU | 2,415 | — | 19,344 |
| Anna Lucsok | RSU | 2,500 | — | 20,025 |
| Daniel Moorhead | RSU | 2,500 | — | 20,025 |
| Anna Lucsok | RSU | 2,750 | — | 22,028 |
| Daniel Moorhead | RSU | 2,750 | — | 22,028 |
| Anna Lucsok | RSU | 2,764 | — | 22,140 |
| Anna Lucsok | RSU | 3,750 | — | 30,038 |
| Daniel Moorhead | RSU | 3,750 | — | 30,038 |
| Thomas Sandgaard | RSU | 4,589 | — | 36,758 |
| Daniel Moorhead | RSU | 4,589 | — | 36,758 |
| Anna Lucsok | RSU | 5,000 | — | 40,050 |
| Daniel Moorhead | RSU | 5,000 | — | 40,050 |
| Thomas Sandgaard | RSU | 6,912 | — | 55,365 |
| Daniel Moorhead | RSU | 6,912 | — | 55,365 |
| Anna Lucsok | RSU | 13,750 | — | 110,138 |
| Daniel Moorhead | RSU | 132,000 | — | 0 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Barry D. MichaelsIndependent · Audit Committee (Chair) · Compensation Committee · Nominating and Governance Committee | $65,000 | $110,000 | $0 | $0 | $0 | $175,000 |
| Joshua R. DisbrowIndependent · Audit Committee · Compensation Committee · Nominating and Governance Committee (Chair) | 60,000 | 110,000 | 0 | 0 | 0 | 170,000 |
| Michael CressIndependent · Audit Committee · Compensation Committee (Chair) · Nominating and Governance Committee | 60,000 | 110,000 | 0 | 0 | 0 | 170,000 |
| Thomas SandgaardEmployee director · Board Chair | — | — | — | — | — | 0 |
Board fee structure and ownership guideline
| Annual cash retainer | $40,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 15,000 / 10,000 / 10,000 |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2024 |
|---|---|
| Cash retainers and fees | $185,000 |
| Equity awards (grant-date value) | $330,000 |
| All other compensation | $0 |
| Total cost of the board | $515,000 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Zynex as a peer
Companies that benchmark against ZYNX
1 company names ZYNX as a compensation peer
- Alphatec Holdings, Inc.ATECFY2025
Each company listed discloses ZYNX 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 ZYNX 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 2024
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Peer reciprocity
The companies Zynex 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 | Nevro Corporation | 2023 | Kevin Thornal | $515,625 | $10,080,173 | $0 | $402,750 | $11,453,548 |
| 2 | Alphatec Holdings, Inc. | 2025 | Patrick Miles | 762,000 | 8,859,650 | 0 | 600,000 | 10,260,507 |
| 3 | AtriCure, Inc. | 2025 | Michael Carrel | 828,439 | 7,203,478 | 0 | 1,171,703 | 9,217,620 |
| 4 | AxoGen, Inc. | 2025 | Michael Dale | 775,865 | 7,342,895 | 0 | 906,133 | 9,047,454 |
| 5 | Cutera, Inc. | 2023 | Taylor Harris | 271,023 | 2,747,682 | 4,250,008 | 0 | 7,279,813 |
| 6 | Artivion, Inc. | 2025 | J. Patrick Mackin | 835,145 | 5,006,990 | 0 | 991,368 | 6,883,108 |
| 7 | Mesa Laboratories, Inc. | 2026 | Gary Owens | 808,846 | 4,700,017 | 0 | 1,120,000 | 6,643,208 |
| 8 | Accuray, Inc. | 2026 | Steve La Neve | 525,000 | 4,263,749 | 0 | 0 | 5,114,466 |
| 9 | Cerus Corp. | 2025 | William Greenman | 793,750 | 2,242,585 | 0 | 756,000 | 3,794,657 |
| 10 | Surmodics, Inc. | 2024 | Gary Maharaj | 647,481 | 940,000 | 1,410,000 | 654,215 | 3,665,496 |
| 11 | Tactile Systems Tech | 2025 | Sheri Dodd | 675,000 | 2,019,978 | 0 | 737,438 | 3,466,916 |
| 12 | Inogen, Inc. | 2025 | Kevin R.M. Smith | 711,077 | 1,874,550 | 0 | 0 | 2,613,804 |
| 13 | Zynex Inc | 2024 | Thomas Sandgaard | 700,000 | 112,458 | 0 | 170,625 | 991,810 |
| 14 | Atrion Corp. | 2023 | David Battat | 718,077 | 0 | 0 | 180,000 | 924,464 |
| 15 | IRadimed Corp. | 2025 | Roger Susi | 385,598 | 0 | 0 | 395,000 | 780,598 |
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 |
|---|---|---|---|---|
| Zynex Inc | not disclosed | not disclosed | not disclosed | not disclosed |
| Accuray, Inc. | 0% | PSU 50 · RSU 50 | No | Exequity LLP |
| Alphatec Holdings, Inc. | 157% | PSU 50 · RSU 50 | No | Compensia |
| Artivion, Inc. | 118.7% | PSU 50 · RSU 50 | No | Willis Towers Watson |
| AtriCure, Inc. | not disclosed | PSU 70 · RSU 30 | No | Korn Ferry |
| Atrion Corp. | 25% | RSU 100 | not disclosed | FW Cook |
| AxoGen, Inc. | 116.79% | PSU 50 · RSU 50 | No | Aon |
| Cerus Corp. | 126% | not disclosed | No | Alpine |
| Cutera, Inc. | not disclosed | not disclosed | No | Compensia |
| Inogen, Inc. | 60% | RSU 50 · PRSU 50 | No | Aon |
| IRadimed Corp. | not disclosed | not disclosed | not disclosed | not disclosed |
| Mesa Laboratories, Inc. | 125% | PSU 50 · RSU 50 | No | Frederic W. Cook & Co, Inc. |
| Nevro Corporation | 53.7% | not disclosed | No | Aon |
| Surmodics, Inc. | 126.3% | Option 60 · Restricted Shares 40 | not disclosed | Pay Governance LLC |
| Tactile Systems Tech | 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
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2023 | 2023-05-17 | 23,653,381 | 727,977 | 811,994 | 97.01% | 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 |
|---|---|---|
| 2023 | 2023-05-17 | 97.01%a |
a. Approved under the standard stated in the filing — “Abstentions and broker non-votes, while included for quorum purposes, will not be counted as votes "cast" for or against any 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.
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (44 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, Thomas Sandgaard. DEF 14A, filed 2025-03-28. Section “Executive Compensation”. As printed: 991,810. View filing ↗
- Section 01, Daniel Moorhead. DEF 14A, filed 2025-03-28. Section “Executive Compensation”. As printed: 909,805. View filing ↗
- Section 01, Anna Lucsok. DEF 14A, filed 2025-03-28. Section “Executive Compensation”. As printed: 709,109. View filing ↗
- Section 03, Thomas Sandgaard RSU. DEF 14A, filed 2025-03-28. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Anna Lucsok RSU. DEF 14A, filed 2025-03-28. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Anna Lucsok RSU. DEF 14A, filed 2025-03-28. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Daniel Moorhead RSU. DEF 14A, filed 2025-03-28. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Daniel Moorhead RSU. DEF 14A, filed 2025-03-28. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Thomas Sandgaard RSU. DEF 14A, filed 2025-03-28. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Daniel Moorhead RSU. DEF 14A, filed 2025-03-28. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Anna Lucsok RSU. DEF 14A, filed 2025-03-28. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Anna Lucsok RSU. DEF 14A, filed 2025-03-28. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Anna Lucsok RSU. DEF 14A, filed 2025-03-28. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Anna Lucsok RSU. DEF 14A, filed 2025-03-28. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Anna Lucsok RSU. DEF 14A, filed 2025-03-28. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Daniel Moorhead RSU. DEF 14A, filed 2025-03-28. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Daniel Moorhead RSU. DEF 14A, filed 2025-03-28. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Daniel Moorhead RSU. DEF 14A, filed 2025-03-28. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Daniel Moorhead RSU. DEF 14A, filed 2025-03-28. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Thomas Sandgaard RSU. DEF 14A, filed 2025-03-28. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 08, Barry D. Michaels. DEF 14A, filed 2025-03-28. Section “Director Compensation”. As printed: 175,000. View filing ↗
- Section 08, Joshua R. Disbrow. DEF 14A, filed 2025-03-28. Section “Director Compensation”. As printed: 170,000. View filing ↗
- Section 08, Michael Cress. DEF 14A, filed 2025-03-28. Section “Director Compensation”. As printed: 170,000. View filing ↗
- Section 08, Thomas Sandgaard. DEF 14A, filed 2025-03-28. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 06, 2023 vote. Form 8-K, filed 2023-05-17. Item 5.07 · say-on-pay result. As reported: 97.01% (votes for as printed: 23,653,381). 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 185,000 + equity 330,000 + all other 0 = 515,000, summed across the director compensation table rows.
- Nevro Corporation, Section 10b CEO total. DEF 14A, filed 2024-04-12. CEO total compensation as printed in Nevro Corporation's own proxy. As printed: 11,453,548. View filing ↗
- Alphatec Holdings, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-29. CEO total compensation as printed in Alphatec Holdings, Inc.'s own proxy. As printed: 10,260,507. View filing ↗
- AtriCure, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-06. CEO total compensation as printed in AtriCure, Inc.'s own proxy. As printed: 9,217,620. View filing ↗
- AxoGen, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-29. CEO total compensation as printed in AxoGen, Inc.'s own proxy. As printed: 9,047,454. View filing ↗
- Cutera, Inc., Section 10b CEO total. DEF 14A, filed 2024-06-17. CEO total compensation as printed in Cutera, Inc.'s own proxy. As printed: 7,279,813. View filing ↗
- Artivion, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-01. CEO total compensation as printed in Artivion, Inc.'s own proxy. As printed: 6,883,108. View filing ↗
- Mesa Laboratories, Inc., Section 10b CEO total. DEF 14A, filed 2026-07-22. CEO total compensation as printed in Mesa Laboratories, Inc.'s own proxy. As printed: 6,643,208. View filing ↗
- Accuray, Inc., Section 10b CEO total. DEF 14A, filed 2026-10-16. CEO total compensation as printed in Accuray, Inc.'s own proxy. As printed: 5,114,466. View filing ↗
- Cerus Corp., Section 10b CEO total. DEF 14A, filed 2026-04-22. CEO total compensation as printed in Cerus Corp.'s own proxy. As printed: 3,794,657. View filing ↗
- Surmodics, Inc., Section 10b CEO total. DEF 14A, filed 2024-12-19. CEO total compensation as printed in Surmodics, Inc.'s own proxy. As printed: 3,665,496. View filing ↗
- Tactile Systems Tech, Section 10b CEO total. DEF 14A, filed 2026-03-25. CEO total compensation as printed in Tactile Systems Tech's own proxy. As printed: 3,466,916. View filing ↗
- Inogen, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in Inogen, Inc.'s own proxy. As printed: 2,613,804. View filing ↗
- Zynex Inc (subject), Section 10b CEO total. DEF 14A, filed 2025-03-28. CEO total compensation as printed in Zynex Inc's own proxy. As printed: 991,810. View filing ↗
- Atrion Corp., Section 10b CEO total. DEF 14A, filed 2024-04-09. CEO total compensation as printed in Atrion Corp.'s own proxy. As printed: 924,464. View filing ↗
- IRadimed Corp., Section 10b CEO total. DEF 14A, filed 2026-04-30. CEO total compensation as printed in IRadimed Corp.'s own proxy. As printed: 780,598. View filing ↗
- Section 10a, Alphatec Holdings, Inc. reciprocity. DEF 14A. Alphatec Holdings, Inc. names Zynex Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗