Dean Li compensation by year
Merck Summary Compensation Table · all 5 fiscal years held| Component | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Salary | $937,104 | $1,095,055 | $1,368,819 | $1,451,077 | $1,460,000 |
| Bonus | — | $0 | $0 | $0 | $0 |
| Stock awards | $2,062,363 | $2,943,574 | $4,147,202 | $4,724,760 | $4,296,864 |
| Option awards | $900,003 | $1,169,998 | $1,679,999 | $1,680,000 | $1,199,991 |
| Non-equity incentive | $1,400,799 | $2,225,000 | $2,072,000 | $1,659,840 | $1,368,640 |
| Pension and deferred compensation | $114,593 | $210,204 | $339,249 | $400,472 | $398,839 |
| All other | $66,057 | $122,233 | $172,146 | $170,183 | $168,547 |
| Total | $5,480,919 | $7,766,063 | $9,779,414 | $10,086,332 | $8,892,881 |
Each year as stated in that year's proxy. A dash means the company reported no figure in that column. Source: Merck & Co., Inc. DEF 14A filed April 8, 2026, accession 0001193125-26-147704, and prior-year filings. Open the filing on EDGAR.
How this page was built: the Merck & Co., Inc. filed document, accession 0001193125-26-147704. Every figure is read from that document and cited to the page and table it appears in. Filed April 8, 2026.
Equity holdings
unvested awards at FY2025 year-end| Type | Unvested units | Value at year-end | Exercise price |
|---|---|---|---|
| PSU | 80,214 | $8,443,326 | — |
| PSU | 59,416 | $6,254,128 | — |
| RSU | 14,166 | $1,491,113 | — |
| Option | 21,014 | — | $75.36 |
| Option | 15,087 | — | $56.04 |
| Option | 64,481 | — | $84.71 |
| Option | 3,891 | — | $75.36 |
| Option | 43,750 | — | $129.22 |
| Option | 75,728 | — | $87.10 |
| Option | 94,654 | — | $73.73 |
| Option | 25,819 | — | $117.89 |
| Option | 17,455 | — | $77.62 |
Per the Outstanding Equity Awards at Fiscal Year-End table in Merck & Co., Inc.'s FY2025 proxy; value at the fiscal year-end close, as the company printed it.
Insider transactions since the last proxy
5 Form 4 lines since the FY2025 proxy (filed April 8, 2026)current to 2026-11-10 · updated nightly
| Date | Transaction | Plan | Shares | Price | Held after |
|---|---|---|---|---|---|
| 2026-05-05 | Grant or award derivative | — | 58,207 | $0.00 | 58,207 |
| 2026-05-05 | Grant or award derivative | — | 19,885 | $0.00 | 19,885 |
| 2026-04-29 | Exercise or conversion | — | 4,722 | $110.03 | 96,757.05 |
| 2026-04-29 | Tax withholding | — | 2,326 | $110.03 | 94,431.05 |
| 2026-04-29 | Exercise or conversion derivative | — | 4,722 | $0.00 | 9,444 |
The 5 most recent of 5 lines, each as reported on the Form 4. "10b5-1" marks a trade the filing reports under a pre-arranged trading plan. View every Form 4 filing on EDGAR →
Change-in-control & termination
estimated payments Merck discloses, by trigger · FY2024| Trigger | Cash severance | Accelerated equity | Benefits continuation | Total as disclosed |
|---|---|---|---|---|
| Change in control and involuntary termination | $5,824,000 | $6,933,313 | $58,267 | $12,830,230 |
| Involuntary termination without cause | $1,288,000 | $3,064,656 | $21,850 | $4,389,156 |
Per the Potential Payments Upon Termination or Change in Control table in Merck & Co., Inc.'s FY2024 proxy. Estimates as the company printed them; a dash means it printed no figure.
Merck’s named executive officers, FY2025
as the company reported each| Named executive officer | Role | FY2025 total |
|---|---|---|
| Robert Davis | Chairman, Chief Executive Officer and President | $20,797,845 |
| Dean Li · this page | Executive Vice President and President, Merck Research Laboratories | $8,892,881 |
| Caroline Litchfield | Executive Vice President and Chief Financial Officer | $7,514,085 |
| Jennifer Zachary | Executive Vice President and General Counsel | $5,860,578 |
| Sanat Chattopadhyay | Executive Vice President and President, Merck Manufacturing Division | $5,408,408 |
Dean Li's compensation dossier, Merck
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How this record is built
Every figure on this page is one figure from a public SEC filing, printed as the filing states it and cited to the document. Compensation totals are Merck's own disclosed totals, not summed by Velarion. Insider transactions are read from Form 4 filings and cover every line filed since the most recent proxy. Nothing is estimated by Velarion; where the company does not disclose a value the cell reads "—", and a section appears only where the company discloses the data. Corrections: records@velarion.ai.
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