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MedTech & Diagnostics

Medtronic Executive Compensation (FY26)

MDT · Executive and director compensation, fiscal 2022 to 2026
Chief executive, fiscal 2026
◇
Geoffrey Martha
Latest say-on-pay support
=
October 15, 2026
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New filing — October 19, 2026, data updatedData as of October 20, 2026Latest filing (8-K): October 19, 2026
15 filings cited on this page
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405 figures on this page: 394 cited to the filing that reported them, 11 calculated from figures it prints. See the citations

More on Medtronic

Five data products on this company. Each one is requested through the developer setup page.
What changed from fiscal 2025 to fiscal 2026
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Geoffrey Martha: $21,240,058 → $22,940,252 (8.0% higher)
Say-on-pay support: 93.5% → 93.7% (0.2 points higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Medtronic's chief executive and what were they paid?
Total compensation for Geoffrey Martha, Chairman and Chief Executive Officer, came to $22,940,252 in fiscal 2026. Martha's total moved 8.0% higher from the $21,240,058 reported for fiscal 2025.
What was Medtronic's say-on-pay result?
For fiscal 2026, shareholders backed the say-on-pay proposal with 93.7% of votes cast for or against in favor at the meeting held October 15, 2026.
Which companies are in Medtronic's peer group?
Companies named in the disclosed peer group include 3M, Abbott Laboratories, AbbVie, Amgen and Baxter, among others.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Geoffrey Martha
Chairman and Chief Executive Officer
◇—◇◇◇—◇◇
Ivan Fong
Executive Vice President, General Counsel and Secretary
◇◇◇◇◇—◇◇
Karen Parkhill
Executive Vice President and Chief Financial Officer
◇—◇◇◇—◇◇
Robert White
Executive Vice President, Medical Surgical Portfolio
◇—◇◇◇—◇◇
Bradley Lerman
Former Senior Vice President, General Counsel and Secretary
Departed during or after this year
◇—◇◇◇—◇◇
Rob ten Hoedt
EVP & President, Europe, Middle East & Africa Region, and Asia Pacific
◇—◇◇◇◇◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Geoffrey Martha
Chairman and Chief Executive Officer
◇—◇◇——◇◇
Karen Parkhill
Former Executive Vice President and Chief Financial Officer
◇—◇◇——◇◇
Sean Salmon
Former EVP & President, Cardiovascular Portfolio
◇—◇◇—◇◇◇
Rob ten Hoedt
EVP & President, Global Regions
◇◇◇◇—◇◇◇
Robert White
EVP & President, Medical Surgical Portfolio
◇—◇◇——◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Geoffrey Martha
Chairman and Chief Executive Officer
◇—◇◇◇—◇◇
Robert White
Former EVP & President, Medical Surgical Portfolio
Departed during or after this year
◇—◇◇◇—◇◇
Karen Parkhill
Former Executive Vice President and Chief Financial Officer
◇—◇◇◇—◇◇
Gregory Smith
EVP Enterprise Operations
◇—◇◇◇—◇◇
Sean Salmon
Former EVP & President, Cardiovascular Portfolio
◇—◇◇◇◇◇◇
Brett Wall
Former Executive Vice President and President, Neuroscience Portfolio
◇—◇◇◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Geoffrey Martha
Chairman and Chief Executive Officer
◇—◇◇◇—◇◇
Sean Salmon
Former EVP & President, Cardiovascular Portfolio
Departed during or after this year
◇—◇◇◇◇◇◇
Brett Wall
Former Executive Vice President and President, Neuroscience Portfolio
◇—◇◇◇—◇◇
Gregory Smith
EVP Enterprise Operations
◇—◇◇◇—◇◇
Thierry Piéton
Executive Vice President and Chief Financial Officer
◇—◇◇◇—◇◇
Gary Corona
Former SVP Corporate Finance (former Interim CFO)
Departed during or after this year
Served on an interim basis
◇—◇◇——◇◇
Karen Parkhill
Former Executive Vice President and Chief Financial Officer
Departed during or after this year
◇—————◇◇
Fiscal 2026
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Geoffrey Martha
Chairman and Chief Executive Officer
◇—◇◇◇—◇◇
Thierry Piéton
Executive Vice President and Chief Financial Officer
◇◇◇◇◇—◇◇
Brett Wall
Former Executive Vice President and President, Neuroscience Portfolio
Departed during or after this year
◇—◇◇◇—◇◇
Michael Marinaro
Executive Vice President and President, Medical Surgical Portfolio and Americas
◇—◇◇◇—◇◇
Michelle Quinn
Executive Vice President, General Counsel and Secretary
◇◇◇◇◇—◇◇
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 2026
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Brett WallRSU◇——◇——◇
Brett WallPSU◇◇◇—◇—◇
Brett WallOPTION◇——◇—◇◇
Geoff MarthaPSU◇◇◇—◇—◇
Geoff MarthaRSU◇——◇——◇
Geoff MarthaOPTION◇——◇—◇◇
Michelle QuinnRSU◇——◇——◇
Michelle QuinnPSU◇◇◇—◇—◇
Michelle QuinnRSU◇——◇——◇
Michelle QuinnOPTION◇——◇—◇◇
Mike MarinaroPSU◇◇◇—◇—◇
Mike MarinaroRSU◇——◇——◇
Mike MarinaroOPTION◇——◇—◇◇
Thierry PiétonRSU◇——◇——◇
Thierry PiétonPSU◇◇◇—◇—◇
Thierry PiétonOPTION◇——◇—◇◇
Fiscal 2022, 2023, 2024, 2025 are included in the PDF.
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 2026 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Geoffrey MarthaOption◇—◇7/29/2034
Option◇—◇8/1/2032
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇7/31/2033
Option◇—◇7/28/2035
Brett WallOption◇—◇7/29/2034
Option◇—◇7/28/2035
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇7/31/2033
Option◇—◇8/1/2032
Mike MarinaroOption◇—◇8/1/2032
Option◇—◇7/28/2035
Option◇—◇8/1/2032
RSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇7/29/2034
RSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇7/31/2033
Michelle QuinnOption◇—◇7/28/2035
RSU◇◇——
RSU◇◇——
RSU◇◇——
Thierry PiétonRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇3/3/2035
Option◇—◇7/28/2035
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 2026
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Craig Arnold
Lead independent director
◇◇————◇
Gregory P. Lewis
◇◇————◇
Randall J. Hogan III
◇◇————◇
Elizabeth G. Nabel
◇◇————◇
Kevin E. Lofton
◇◇————◇
Scott C. Donnelly
◇◇————◇
Lidia L. Fonseca
◇◇————◇
Kendall J. Powell
◇◇————◇
Joon S. Lee
◇◇————◇
William R. Jellison
◇◇————◇
John P. Groetelaars
◇◇————◇
Andrea J. Goldsmith
◇————◇◇
Geoffrey S. Martha served on the board in fiscal 2026 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
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◇
Lead independent director premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Nominating and governance chair◇
Equity is delivered as restricted stock units.
Stock ownership guideline: 5x annual board retainer

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2026
  • 3M MMM
  • Abbott Laboratories ABT
  • AbbVie ABBV
  • Amgen AMGN
  • Baxter BAX
  • Becton, Dickinson, & Co BDX
  • Boston Scientific BSX
  • Bristol Myers Squibb BMY
  • Cisco Systems CSCO
  • Danaher DHR
  • Eli Lilly & Co LLY
  • GE Healthcare Technologies GEHC
  • Gilead Sciences GILD
  • Honeywell HON
  • IBM IBM
  • Intel INTC
  • Johnson & Johnson JNJ
  • Merck & Co. MRK
  • Pfizer PFE
  • Qualcomm QCOM
  • Stryker SYK
  • Thermo Fisher Scientific TMO

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2026October 15, 2026=◇◇◇
2025October 16, 2025=◇◇◇
2024October 17, 2024=◇◇◇
2023October 17, 2024=◇◇◇
2022October 19, 2023=◇◇◇
2021December 8, 2022=◇◇◇
2020December 9, 2021=◇◇◇
2019December 11, 2020=◇◇◇
2018December 6, 2019=◇◇◇
2017December 7, 2018=◇◇◇
2016December 9, 2016=◇◇◇

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Sample answer — “What is the CEO’s total compensation?”
- Geoffrey Martha (Chairman and Chief Executive Officer), FY2026 total compensation $22,940,252 (base salary $1,399,039) [exec_comp, SEC accession 0001613103-26-000010, filed 2026-08-17]

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What this page does not include

Everything above is a fact Medtronic disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Medtronic 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.
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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.
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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.
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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.
405 figures on this page: 394 cited to the filing that reported them, 11 calculated from figures it prints.
394 cited to the filing
11 calculated from the filing

Documents cited

  1. 0001628280-26-066291
    4,197 699,917 3. The shareholders approved, in a non-binding advisory vote, the compensation of the Company’s named executive officers.
  2. 0001613103-26-000010
    Director Compensation · Grants of Plan-Based Awards · Summary Compensation Table
  3. 0001628280-25-045695
    06,339,555 101,786,497 1,072,269 3.
  4. 0001613103-25-000151
    Summary Compensation Table
  5. 0001613103-24-000151
  6. 0001613103-24-000124
    Summary Compensation Table
  7. 0001613103-23-000132
  8. 0001613103-23-000108
    Summary Compensation Table
  9. 0001613103-22-000066
  10. 0001193125-22-225369
    2022 Summary Compensation Table
  11. 0001613103-21-000065
  12. 0001613103-20-000053
  13. 0001613103-19-000059
  14. 0001613103-18-000047
  15. 0001193125-16-793116
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Medtronic executive compensation, FY2022–FY2026.” https://intel.velarion.ai/comp/MDT (accessed 2026).
Short form: data: Velarion

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15 filings cited on this page
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MedTech & Diagnostics rankings

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

Peers Medtronic discloses

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

3MAbbott LaboratoriesAbbVieAmgenBaxterBecton, Dickinson, & CoBoston ScientificBristol Myers SquibbCisco SystemsDanaherEli Lilly & CoGE Healthcare TechnologiesGilead SciencesHoneywellIBMIntelJohnson & JohnsonMerck & Co.PfizerQualcommStrykerThermo Fisher Scientific

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

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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}
}
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