Fiscal year 2024 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.
Each company listed discloses ZYXI 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 ZYXI in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| 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.
| 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.
No insider equity transactions reported since the proxy statement.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Anna Lucsok | RSU | 13,750 | — | $110,138 |
| Anna Lucsok | RSU | 1,835 | — | 14,698 |
| Anna Lucsok | RSU | 966 | — | 7,738 |
| Daniel Moorhead | RSU | 132,000 | — | 0 |
| Daniel Moorhead | RSU | 1,922 | — | 15,395 |
| Daniel Moorhead | RSU | 3,750 | — | 30,038 |
| Daniel Moorhead | RSU | 2,750 | — | 22,028 |
| Thomas Sandgaard | RSU | 2,415 | — | 19,344 |
| Thomas Sandgaard | RSU | 6,912 | — | 55,365 |
| Anna Lucsok | RSU | 2,750 | — | 22,028 |
| Daniel Moorhead | RSU | 2,415 | — | 19,344 |
| Anna Lucsok | RSU | 1,375 | — | 11,014 |
| Thomas Sandgaard | RSU | 1,922 | — | 15,395 |
| Daniel Moorhead | RSU | 623 | — | 4,990 |
| Anna Lucsok | RSU | 2,500 | — | 20,025 |
| Daniel Moorhead | RSU | 737 | — | 5,903 |
| Daniel Moorhead | RSU | 2,283 | — | 18,287 |
| Anna Lucsok | RSU | 295 | — | 2,363 |
| Anna Lucsok | RSU | 913 | — | 7,313 |
| Thomas Sandgaard | RSU | 623 | — | 4,990 |
| Thomas Sandgaard | RSU | 737 | — | 5,903 |
| Anna Lucsok | RSU | 3,750 | — | 30,038 |
| Thomas Sandgaard | RSU | 2,283 | — | 18,287 |
| Daniel Moorhead | RSU | 2,500 | — | 20,025 |
| Daniel Moorhead | RSU | 5,000 | — | 40,050 |
| Daniel Moorhead | RSU | 4,589 | — | 36,758 |
| Anna Lucsok | RSU | 249 | — | 1,994 |
| Thomas Sandgaard | RSU | 4,589 | — | 36,758 |
| Daniel Moorhead | RSU | 6,912 | — | 55,365 |
| Anna Lucsok | RSU | 2,764 | — | 22,140 |
| Daniel Moorhead | RSU | 1,375 | — | 11,014 |
| Anna Lucsok | RSU | 768 | — | 6,152 |
| Anna Lucsok | RSU | 5,000 | — | 40,050 |
We designed our executive officer compensation program to attract, motivate and retain key executives who drive our success. We strive to have pay reflect our performance and align with the interests of long-term stockholders, which we achieve with compensation that: Provides executives with competitive compensation that maintains a balance between cash and stock compensation, encouraging our executive officers to act as owners with an equity stake in our company; Ties a significant portion of total compensation to achievement of the Company's business goals such as quarterly and annual revenue, and Adjusted EBITDA targets; Enhances retention by having equity compensation subject to multi-year vesting; and Does not encourage unnecessary and excessive risk taking.
| CEO STI target (% of salary) | 150% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | True |
| Anti-hedging | true |
| Anti-pledging | false |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2023 | 2023-05-17 | 23,653,381 | 727,977 | 811,994 | 97.01% | Passed |
| 2020 | 2020-05-20 | 22,616,850 | 138,393 | 30,902 | 99.39% | 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 |
|---|---|---|
| 2023 | 2023-05-17 | 97.01%a |
| 2020 | 2020-05-20 | 99.39%b |
a. Voting standard not stated in the filing.
b. 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 |
|---|---|---|---|---|---|---|
| Barry D. MichaelsIndependent · Audit (Chair) · Compensation · Nominating and Governance | $65,000 | $110,000 | $0 | — | $0 | $175,000 |
| Joshua R. DisbrowIndependent · Audit · Compensation · Nominating and Governance (Chair) | 60,000 | 110,000 | 0 | — | 0 | 170,000 |
| Michael CressIndependent · Audit · Compensation (Chair) · Nominating and Governance | 60,000 | 110,000 | 0 | — | 0 | 170,000 |
| Thomas SandgaardEmployee director · Board Chair | 0 | 0 | 0 | — | 0 | 0 |
| 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 | — |
| 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.
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Of the companies Zynex 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 Zynex.
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 | Cerus Corp. | 2025 | William Greenman | 793,750 | 2,242,585 | 0 | 756,000 | 3,794,657 |
| 9 | Surmodics, Inc. | 2024 | Gary Maharaj | 647,481 | 940,000 | 1,410,000 | 654,215 | 3,665,496 |
| 10 | Tactile Systems Tech | 2025 | Sheri Dodd | 675,000 | 2,019,978 | 0 | 737,438 | 3,466,916 |
| 11 | Accuray, Inc. | 2025 | Suzanne Winter | 695,264 | 2,314,147 | 0 | 25,000 | 3,042,119 |
| 12 | Inogen, Inc. | 2025 | Kevin R.M. Smith | 711,077 | 1,874,550 | 0 | 0 | 2,613,804 |
| 13 | Zynex | 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 |
| — | Apyx Medical Corp. | — | — | — | — | — | — | not in coverage universe |
| — | Butterfly Network | — | — | — | — | — | — | 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.
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Zynex | 24.4% | not disclosed | not disclosed | not disclosed |
| Accuray, Inc. | not disclosed | PSU 50 · RSU 50 | No | Exequity LLP |
| Alphatec Holdings, Inc. | 157% | PSU 50 · RSU 50 | No | Compensia, Inc. |
| Apyx Medical Corp. | not disclosed | not disclosed | not disclosed | not disclosed |
| Artivion, Inc. | 118.7% | PSU 50 · RSU 50 | No | Willis Towers Watson |
| AtriCure, Inc. | 141% | 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 |
| Butterfly Network | not disclosed | not disclosed | not disclosed | not disclosed |
| Cerus Corp. | 126% | RSU 75 · PSU 25 | No | Alpine |
| Cutera, Inc. | not disclosed | not disclosed | No | Compensia |
| Inogen, Inc. | 60% | RSU 50 · PSU 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% | RSU 50 · PSU 50 | No | Aon |
| Surmodics, Inc. | 126.3% | Options 60 · RSU 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.
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, Thomas Sandgaard | DEF 14A | 2025-03-28 | 0001558370-25-004019 | Section “SUMMARY COMPENSATION TABLE”. As printed: 991,810. Filing ↗machine: t66 · r5 · c14 · span 277902–277909 |
| 2 | Section 01, Daniel Moorhead | DEF 14A | 2025-03-28 | 0001558370-25-004019 | Section “SUMMARY COMPENSATION TABLE”. As printed: 909,805. Filing ↗machine: t66 · r11 · c14 · span 299589–299596 |
| 3 | Section 01, Anna Lucsok | DEF 14A | 2025-03-28 | 0001558370-25-004019 | Section “SUMMARY COMPENSATION TABLE”. As printed: 709,109. Filing ↗machine: t66 · r8 · c14 · span 288592–288599 |
| 4 | Section 08, Barry D. Michaels | DEF 14A | 2025-03-28 | 0001558370-25-004019 | Section “Director Compensation”. As printed: 175,000. Filing ↗machine: t95 · r5 · c14 · span 890018–890025 |
| 5 | Section 08, Joshua R. Disbrow | DEF 14A | 2025-03-28 | 0001558370-25-004019 | Section “Director Compensation”. As printed: 170,000. Filing ↗machine: t95 · r7 · c14 · span 896977–896984 |
| 6 | Section 08, Michael Cress | DEF 14A | 2025-03-28 | 0001558370-25-004019 | Section “Director Compensation”. As printed: 170,000. Filing ↗machine: t95 · r6 · c14 · span 893353–893360 |
| 7 | Section 08, Thomas Sandgaard | DEF 14A | 2025-03-28 | 0001558370-25-004019 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 8 | Section 06, 2023 vote | Form 8-K | 2023-05-17 | 0001104659-23-061864 | Item 5.07 · say-on-pay result. As reported: 97.01% (votes for as printed: 23,653,381). Filing ↗ |
| 9 | Section 06, 2020 vote | Form 8-K | 2020-05-21 | 0001104659-20-064736 | Item 5.07 · say-on-pay result. As reported: 99.39%. Filing ↗ |
| 10 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 11 | Section 09b board cost (computed) | Computed | — | computed | Cash 185,000 + equity 330,000 + all other 0 = 515,000, summed across the director compensation table rows.machine: formula: Σ = 515,000 |
| 12 | Nevro Corporation, Section 10b CEO total | DEF 14A | 2024-04-12 | 0000950170-24-044100 | CEO total compensation as printed in Nevro Corporation's own proxy. As printed: 11,453,548. Filing ↗machine: r2 · c16 · span 631983–631993 |
| 13 | Alphatec Holdings, Inc., Section 10b CEO total | DEF 14A | 2026-04-29 | 0001193125-26-191867 | CEO total compensation as printed in Alphatec Holdings, Inc.'s own proxy. As printed: 10,260,507. Filing ↗machine: t26 · r2 · c25 · span 858148–858158 |
| 14 | AtriCure, Inc., Section 10b CEO total | DEF 14A | 2026-04-06 | 0001323885-26-000010 | CEO total compensation as printed in AtriCure, Inc.'s own proxy. As printed: 9,217,620. Filing ↗machine: span 743364–743373 |
| 15 | AxoGen, Inc., Section 10b CEO total | DEF 14A | 2026-04-29 | 0000805928-26-000057 | CEO total compensation as printed in AxoGen, Inc.'s own proxy. As printed: 9,047,454. Filing ↗machine: r2 · c45 · span 557309–557318 |
| 16 | Cutera, Inc., Section 10b CEO total | DEF 14A | 2024-06-17 | 0001628280-24-028528 | CEO total compensation as printed in Cutera, Inc.'s own proxy. As printed: 7,279,813. Filing ↗machine: t62 · r4 · c26 · span 1221355–1221364 |
| 17 | Artivion, Inc., Section 10b CEO total | DEF 14A | 2026-04-01 | 0001999371-26-007510 | CEO total compensation as printed in Artivion, Inc.'s own proxy. As printed: 6,883,108. Filing ↗machine: r3 · c9 · span 741873–741882 |
| 18 | Mesa Laboratories, Inc., Section 10b CEO total | DEF 14A | 2026-07-22 | 0000724004-26-000071 | CEO total compensation as printed in Mesa Laboratories, Inc.'s own proxy. As printed: 6,643,208. Filing ↗machine: r3 · c24 · span 580946–580955 |
| 19 | Cerus Corp., Section 10b CEO total | DEF 14A | 2026-04-22 | 0001020214-26-000011 | CEO total compensation as printed in Cerus Corp.'s own proxy. As printed: 3,794,657. Filing ↗machine: span 1301658–1301667 |
| 20 | Surmodics, Inc., Section 10b CEO total | DEF 14A | 2024-12-19 | 0000950170-24-138240 | CEO total compensation as printed in Surmodics, Inc.'s own proxy. As printed: 3,665,496. Filing ↗machine: t109 · r3 · c25 · span 1568790–1568799 |
| 21 | Tactile Systems Tech, Section 10b CEO total | DEF 14A | 2026-03-25 | 0001104659-26-034206 | CEO total compensation as printed in Tactile Systems Tech's own proxy. As printed: 3,466,916. Filing ↗machine: r3 · c12 · span 865797–865806 |
| 22 | Accuray, Inc., Section 10b CEO total | DEF 14A | 2025-10-01 | 0001140361-25-036983 | CEO total compensation as printed in Accuray, Inc.'s own proxy. As printed: 3,042,119. Filing ↗machine: t133 · r2 · c24 · span 733636–733645 |
| 23 | Inogen, Inc., Section 10b CEO total | DEF 14A | 2026-04-28 | 0001294133-26-000009 | CEO total compensation as printed in Inogen, Inc.'s own proxy. As printed: 2,613,804. Filing ↗machine: span 1140571–1140580 |
| 24 | Zynex (subject), Section 10b CEO total | DEF 14A | 2025-03-28 | 0001558370-25-004019 | CEO total compensation as printed in Zynex's own proxy. As printed: 991,810. Filing ↗machine: t66 · r5 · c14 · span 277902–277909 |
| 25 | Atrion Corp., Section 10b CEO total | DEF 14A | 2024-04-09 | 0001104659-24-044922 | CEO total compensation as printed in Atrion Corp.'s own proxy. As printed: 924,464. Filing ↗machine: r12 · c47 · span 467910–467917 |
| 26 | IRadimed Corp., Section 10b CEO total | DEF 14A | 2026-04-30 | 0001628280-26-028903 | CEO total compensation as printed in IRadimed Corp.'s own proxy. As printed: 780,598. Filing ↗machine: r3 · c36 · span 177624–177631 |
| 27 | Section 10a, Artivion, Inc. reciprocity | DEF 14A | — | 0001999371-26-007510 | Artivion, Inc.'s most recent proxy was read; its disclosed peer group does not include Zynex. Filing ↗ |
| 28 | Section 10a, AtriCure, Inc. reciprocity | DEF 14A | — | 0001323885-26-000010 | AtriCure, Inc.'s most recent proxy was read; its disclosed peer group does not include Zynex. Filing ↗ |
| 29 | Section 10a, Mesa Laboratories, Inc. reciprocity | DEF 14A | — | 0000724004-26-000071 | Mesa Laboratories, Inc.'s most recent proxy was read; its disclosed peer group does not include Zynex. Filing ↗ |
| 30 | Section 10a, Accuray, Inc. reciprocity | DEF 14A | — | 0001140361-25-036983 | Accuray, Inc.'s most recent proxy was read; its disclosed peer group does not include Zynex. Filing ↗ |
| 31 | Section 10a, Cutera, Inc. reciprocity | DEF 14A | — | 0001628280-24-028528 | Cutera, Inc.'s most recent proxy was read; its disclosed peer group does not include Zynex. Filing ↗ |
| 32 | Section 10a, Cerus Corp. reciprocity | DEF 14A | — | 0001020214-26-000011 | Cerus Corp.'s most recent proxy was read; its disclosed peer group does not include Zynex. Filing ↗ |
| 33 | Section 10a, Alphatec Holdings, Inc. reciprocity | DEF 14A | — | 0001193125-26-191867 | Alphatec Holdings, Inc.'s most recent proxy was read; its disclosed peer group does not include Zynex. Filing ↗ |
| 34 | Section 10a, AxoGen, Inc. reciprocity | DEF 14A | — | 0000805928-26-000057 | AxoGen, Inc. names Zynex in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 35 | Section 10a, Inogen, Inc. reciprocity | DEF 14A | — | 0001294133-26-000009 | Inogen, Inc. names Zynex in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 36 | Section 10a, Nevro Corporation reciprocity | DEF 14A | — | 0000950170-24-044100 | Nevro Corporation's most recent proxy was read; its disclosed peer group does not include Zynex. Filing ↗ |
| 37 | Section 10a, Surmodics, Inc. reciprocity | DEF 14A | — | 0000950170-24-138240 | Surmodics, Inc.'s most recent proxy was read; its disclosed peer group does not include Zynex. Filing ↗ |
| 38 | Section 10a, Tactile Systems Tech reciprocity | DEF 14A | — | 0001104659-26-034206 | Tactile Systems Tech names Zynex in its own disclosed peer group (read from its most recent proxy). Filing ↗ |