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Public · Private · Pre-IPO · PE-portfolio — executive & board pay

Decision-grade compensation intelligence
for advisors, investors, and companies.

Run custom peer re-analysis, surface governance and vote-risk issues, and generate board-ready output in minutes — for public, private, and PE-portfolio companies.

Live from the platformGovernance · Vote Risk

Palo Alto Networks — 46.6% say-on-pay support in FY2025.

CEO Arora’s $99.7M total comp drove the opposition. Named-peer benchmarking surfaced the gap before the meeting, not after.

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Across 12 industries

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Velarion benchmarks 2,657 companies across 12 industries.
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Full access. All industries. No credit card. · Across 12 industries

Working with a private, PE-portfolio, or pre-IPO company? See Private Benchmarking ↓

Ask Velarion Anything

QUERY

How does CFO pay compare across the cybersecurity peer set?

Current CFO seats span ~$4.4M (Fortinet) to ~$30.3M (Zscaler) — roughly 7× for the same role. At Zscaler, founder-CEO Chaudhry draws a nominal ~$30K total while CFO Rubin is the highest-paid finance seat in the set, an internal-pay-equity contrast a committee would flag. Velarion shows every seat by name, not an anonymized median.

QUERY

What’s the CEO comp range across cybersecurity peers?

From $30K to $99.7M. Zscaler CEO Chaudhry takes a nominal $24K salary with no equity grants. PANW CEO Arora received $99.7M in FY2025 — 95% stock awards. Fortinet CEO Xie at ~$11.5M phased out stock options after FY2022, shifting to equity split between time-vested RSUs and performance-vested PSUs.

1,184
Covered Companies
12 Live
Industries
Named Peer Benchmarking
Custom Peer Groups
Adversarial Intelligence
Board-Ready Materials

Why Velarion

This isn't a tool. It's a competitive advantage.

One peer groupCustom peer re-analysis

Build any peer group. Add or remove companies. See how every metric shifts. Test the comparison an informed investor would use.

Anonymous percentilesNamed peer benchmarking

See exactly which companies are above and below on every metric. PANW at $99.7M, not ‘Peer A at P75.’

Trust-me AI narrativesEvery claim traced to a filing — a skeptic agent flags anything the source doesn't support

A skeptic agent surfaces challenges, flags thin evidence, and scores confidence. Every conclusion comes with the case against it.

Weeks of prepBoard-ready in one click

Structured findings with named peers, quantified risk, and cited evidence — exported as presentation materials the committee can act on.

Platform

Intelligence that's ready for the meeting.

Not a data dump. Not a chatbot. Structured analysis with named peers, quantified risk, and specific recommendations.

Includes board/director pay benchmarking alongside named-executive comp.

COMPARATIVE GOVERNANCE PROFILE — CYBERSECURITY PEER GROUP
CompanySay-on-PayPay for PerfVote RiskBoard RefreshEquity MixOverall
ZSAACBAC
PANWDBDCAD
CRWDA-CCCAC
FTNTA-ABABB
QLYSABAABB
NETA-ACACC
OKTAACAAAC
✦ INTELLIGENCE PANW lands a D on Say-on-Pay: a 46.6% FY2025 vote, following 50.9% in FY2024 and 38.5% in FY2023 — three straight years of sub-majority support against a program that paid CEO Arora $99.7M last year. ZS shows the strongest recovery trajectory in the set, with Say-on-Pay back to 93.2% after a 72.0% trough in FY2023. The signal is sitting in the disclosure; the grades surface it before the next vote.

Private Company Benchmarking

Benchmark a private, PE-portfolio, or pre-IPO company.

Profile a private, PE-portfolio, or pre-IPO company and see executive and board pay benchmarked against comparable public companies — matched by industry and size, with a stated cohort size and confidence basis. A directional first draft, not a private-company survey substitute.

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Peer Intelligence Engine

What happens when you change the peer group?

Disclosed peer groups are chosen by the company. Replace or add companies and see how every metric — pay positioning, equity mix, governance scores — shifts instantly.

Try It: Change the Peer Group, Change the Story

PANWPalo Alto Networks Inc. — CEO Positioning
FY2025

Company-disclosed peer group — 16 large-cap software & infrastructure names (ADBE, NOW, INTU, CRWD, SNPS…); median CEO total $25.7M

Pay Rank vs. Peers
P88
CEO total comp vs 16 disclosed peers
CEO Total Comp
$99.7M
Nikesh Arora · FY2025
Say-on-Pay
46.6%
Most recent vote · FY2025
✦ Velarion Intelligence
PANW's disclosed peer set spans 16 large-cap software and infrastructure names (ADBE, NOW, INTU, CRWD, SNPS…) with a median CEO total of $25.7M. Arora's $99.7M sits at P88 of that set — and the FY2025 Say-on-Pay vote came in at 46.6%. Velarion's adversarial pass flags whether the disclosed set is defensible, and what positioning looks like against a size-matched cohort instead.

Coverage

12 covered industries. 1,184 tagged companies.

Plus 1,473 benchmarkable peer companies tracked outside covered industries — 2,657 total benchmarkable universe.

Real Estate
211 companies
Gaming & Lodging
35 companies
Tech — Software
173 companies
Tech — Hardware
98 companies
Banking
273 companies
Insurance
76 companies
Asset Management
44 companies
Specialty Finance
20 companies
Payments & Financial Infrastructure
25 companies
Biopharma & Life Sciences
131 companies
MedTech & Diagnostics
64 companies
Utilities
47 companies

Who It's For

Built for the people who shape compensation decisions.

For Advisors

Compensation Advisors & Consulting Firms

Advisory Firms · Independent Consultants · Engagement Teams

Velarion runs in Advisor / Issuer / Investor mode — findings, recommendations, and CTAs re-frame for your seat at the table.

Your competitors are walking into meetings with six months of peer movement and governance shifts already analyzed. Every company in the industry, benchmarked and interpreted — before any engagement begins.

Bring intelligence to every engagement that used to require a separate research workflow. Named peer benchmarking, custom peer groups, and AI-interpreted governance risk — ready for the conversation.

Bring This to Your Next Engagement →
ADVISOR ADVANTAGE
Named peers in every benchmark
Custom peer groups per engagement
Board-ready materials in minutes
Governance risk pre-analyzed
AI commentary on every company
Benchmark private clients against comparable public companies — cohort size and confidence basis stated.
For Investors

Investors & Governance Teams

Portfolio Managers · Governance Analysts · Stewardship Teams

Velarion runs in Advisor / Issuer / Investor mode — findings, recommendations, and CTAs re-frame for your seat at the table.

Screening compensation governance risk across 50+ portfolio companies means reviewing 50+ annual disclosures. By the time you've finished, the first ones are already stale.

Monitor compensation governance risk across your entire portfolio. Identify outliers, track say-on-pay trajectories, and build the case before the vote — not after.

Screen Your Portfolio →
INVESTOR ADVANTAGE
Portfolio-wide governance screening
Say-on-pay trajectory tracking
Peer group construction analysis
Compensation outlier detection
Saved portfolios across industries
Benchmark PE-portfolio and pre-IPO holdings against the public comparable set.
For Corporate Teams

Compensation Committees & Corporate Teams

CHROs · Total Rewards · Committee Support · General Counsel

Velarion runs in Advisor / Issuer / Investor mode — findings, recommendations, and CTAs re-frame for your seat at the table.

Your next committee meeting is 6 weeks away. Do you know where every executive sits relative to peers — right now? Not where they sat when the last study was completed. Right now.

Year-round intelligence without waiting for the next engagement cycle. Know where every executive sits before you walk into the committee room. Download a board-ready briefing in minutes, not weeks.

Prepare for Your Next Meeting →
CORPORATE ADVANTAGE
Year-round benchmarking
Board-ready materials on demand
Executive retention risk flags
Comparative governance profile vs. peers
Custom peer group modeling

The intelligence your competitors don't have yet.

Decision-grade compensation intelligence. 12 industries. 2,657 benchmarkable companies. Board-ready in minutes.

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