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MedTech & Diagnostics

LivaNova PLC Executive Compensation (FY25)

LIVN · Executive and director compensation, fiscal 2023 to 2025
Data as of September 7, 2026Latest filing (8-K): June 11, 2026
266 figures on this page: 264 cited to the filing that reported them, 2 calculated from figures it prints. See the citations
Vladimir Makatsaria, Chief Executive Officer, received $8,047,217 in total compensation for fiscal 2025, and Makatsaria's total was 17.1% lower than the $9,710,672 reported for fiscal 2024. For fiscal 2025, the company reported a chief executive pay ratio of 101:1, against median employee compensation of $79,459. Shareholders recorded 99.0% support for the say-on-pay proposal at the meeting held June 10, 2026 for fiscal 2025. The disclosed peer group names Avanos Medical, Inc., CONMED Corporation, Enovis Corporation, Globus Medical, Inc. and Haemonetics Corporation, among others.
Chief executive, fiscal 2025
◇
Vladimir Makatsaria
Latest say-on-pay support
=
June 10, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Vladimir Makatsaria: $9,710,672 → $8,047,217 (17.1% lower)
CEO pay ratio: 135:1 → 101:1 (25.2% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is LivaNova PLC's chief executive and what were they paid?
Vladimir Makatsaria, Chief Executive Officer, received $8,047,217 in total compensation for fiscal 2025. Makatsaria's total was 17.1% lower than the $9,710,672 reported for fiscal 2024.
What was LivaNova PLC's say-on-pay result?
Shareholders recorded 99.0% support for the say-on-pay proposal at the meeting held June 10, 2026 for fiscal 2025.
Which companies are in LivaNova PLC's peer group?
The disclosed peer group names Avanos Medical, Inc., CONMED Corporation, Enovis Corporation, Globus Medical, Inc. and Haemonetics Corporation, among others.
What is LivaNova PLC's chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 101:1, against median employee compensation of $79,459.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Alex Shvartsburg
CFO
◇—◇◇◇—◇◇
Michael Hutchinson
Former Chief Legal Officer
◇◇◇◇◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Vladimir Makatsaria
CEO
◇◇◇◇◇—◇◇
Alex Shvartsburg
CFO
◇—◇◇◇—◇◇
Ahmet Tezel
Chief Innovation Officer
◇—◇◇◇—◇◇
Michael Hutchinson
Former Chief Legal Officer
◇—◇◇◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Vladimir Makatsaria
Chief Executive Officer
◇—◇◇◇—◇◇
Alex Shvartsburg
Chief Financial Officer
◇—◇◇◇—◇◇
Ahmet Tezel
Senior Vice President, Chief Innovation Officer
◇—◇◇◇—◇◇
Natalia Kozmina
Chief Human Resources Officer
◇◇◇◇◇—◇◇
Michael Hutchinson
Former Senior Vice President, Chief Legal Officer and Company Secretary
Departed during or after this year
◇—◇◇◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Ahmet TezelRSU◇——◇——◇
Ahmet TezelOPTION◇——◇—◇◇
Ahmet TezelPSU◇— withheld◇—◇—◇
Ahmet TezelPSU◇—◇—◇—◇
Alex ShvartsburgRSU◇——◇——◇
Alex ShvartsburgOPTION◇——◇—◇◇
Alex ShvartsburgPSU◇— withheld◇—◇—◇
Alex ShvartsburgPSU◇—◇—◇—◇
Natalia KozminaRSU◇——◇——◇
Natalia KozminaPSU◇—◇—◇—◇
Vladimir MakatsariaOPTION◇——◇—◇◇
Vladimir MakatsariaPSU◇— withheld◇—◇—◇
Vladimir MakatsariaRSU◇——◇——◇
Vladimir MakatsariaPSU◇—◇—◇—◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Alex ShvartsburgOption◇—◇—
PSU◇◇——
PSU◇◇——
Option◇—◇—
PSU◇◇——
PSU◇◇——
PSU◇◇——
Option◇—◇—
RSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇—
RSU◇◇——
Ahmet TezelRSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
Option◇—◇—
PSU◇◇——
PSU◇◇——
Option◇—◇—
Natalia KozminaPSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇—
Michael HutchinsonOption◇—◇—
RSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
Option◇—◇—
PSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
Option◇—◇—
Vladimir MakatsariaOption◇—◇—
Option◇—◇—
PSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
William Kozy
Board chair
◇◇————◇
Todd Schermerhorn
◇◇————◇
J. Christopher Barry
◇◇————◇
Francesco Bianchi
◇◇————◇
Peter Wilver
◇◇————◇
Stacy Enxing Seng
◇◇————◇
Sharon O'Kane
◇◇————◇
Susan Podlogar
◇◇————◇
Brooke Story
◇◇————◇
Donald Zurbay
◇◇————◇
Jette Nygaard-Andersen and Vladimir Makatsaria served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Compensation committee chair◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Avanos Medical, Inc. AVNS
  • CONMED Corporation CNMD
  • Enovis Corporation ENOV
  • Globus Medical, Inc. GMED
  • Haemonetics Corporation HAE
  • ICU Medical, Inc. ICUI
  • Inari Medical, Inc.(1) NARI
  • Inspire Medical Systems, Inc. INSP
  • Integer Holdings Corporation ITGR
  • Integra LifeSciences Holdings Corporation IART
  • Masimo Corporation MASI
  • Merit Medical Systems, Inc. MMSI
  • Nevro Corp.(2) NVRO
  • Penumbra, Inc.(3) PEN
  • Tandem Diabetes Care, Inc. TNDM

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025June 10, 2026=◇◇◇
2024June 11, 2025=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact LivaNova PLC disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where LivaNova PLC sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
266 figures on this page: 264 cited to the filing that reported them, 2 calculated from figures it prints.
264 cited to the filing
2 calculated from the filing

Documents cited

  1. 0001639691-26-000053
  2. 0001104659-26-050937
    2025 Outstanding Equity Awards at Year End · CEO Pay Ratio · COMPENSATION TABLES · Compensation Tables · and 2 more sections
  3. 0001639691-25-000052
  4. 0001104659-25-041852
    COMPENSATION TABLES
  5. 0001104659-24-052902
    Summary Compensation Table
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This page is free to cite. Attribution we ask for:
Velarion, “LivaNova PLC executive compensation, FY2023–FY2025.” https://intel.velarion.ai/comp/LIVN (accessed 2026).
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MedTech & Diagnostics rankings

Chief executive pay — MedTech & DiagnosticsCEO pay ratio — MedTech & DiagnosticsSay-on-pay support — MedTech & Diagnostics

Peers LivaNova PLC discloses

The companies named in LIVN's own disclosed peer group.

Avanos Medical, Inc.CONMED CorporationEnovis CorporationGlobus Medical, Inc.Haemonetics CorporationICU Medical, Inc.Inspire Medical Systems, Inc.Integer Holdings CorporationIntegra LifeSciences Holdings CorporationMasimo CorporationMerit Medical Systems, Inc.Penumbra, Inc.(3)Tandem Diabetes Care, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
For informational purposes only. Not investment, legal, or compensation advice.  The Pay Desk · Methodology · Terms · Privacy