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National Healthcare Executive Compensation (FY25)

NHC · Executive and director compensation, fiscal 2022 to 2025

The paid brief on National Healthcare

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Data as of September 7, 2026Latest filing (8-K): May 13, 2026
10 filings cited on this page
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National Healthcare brief$1,500Get the executive brief
242 figures on this page: 236 cited to the filing that reported them, 6 calculated from figures it prints. See the citations
Chief executive, fiscal 2025
◇
Stephen Flatt
Latest say-on-pay support
=
May 7, 2026
Chief executive pay ratio
◇
To the median employee

More on National Healthcare

Five data products on this company. Each one is requested through the developer setup page.
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 — Stephen Flatt: $2,154,574 → $2,685,370 (24.6% higher)
Say-on-pay support: 96.3% → 98.1% (1.8 points higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is National Healthcare's chief executive and what were they paid?
Stephen Flatt was paid $2,685,370 in total compensation as Chief Executive Officer for fiscal 2025. Compared with the $2,154,574 reported for fiscal 2024, Flatt's total was 24.6% higher.
What was National Healthcare's say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 98.1% of votes cast for or against in favor at the meeting held May 7, 2026.
What is National Healthcare's chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 52.8:1.

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
Stephen Flatt
Chief Executive Officer
◇—◇◇◇—◇◇
R. Michael Ussery
President & Chief Operating Officer
◇—◇◇◇—◇◇
Josh McCreary
SVP, General Counsel & Secretary
◇—◇◇◇—◇◇
B. Anderson Flatt
SVP & Chief Information Officer
◇—◇◇◇—◇— not reconciled
Brian Kidd
SVP & Controller; Princ. Acct. Officer
◇—◇◇◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
R. Michael Ussery
President & Chief Operating Officer
◇—◇◇◇—◇◇
Brian Kidd
SVP & Chief Financial Officer
◇—◇◇◇—◇◇
Josh McCreary
SVP, General Counsel & Secretary
◇—◇◇◇—◇◇
Stephen Flatt
Chief Executive Officer
◇—◇◇◇—◇— not reconciled
B. Anderson Flatt
SVP & Chief Information Officer
◇—◇◇◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Stephen Flatt
Chief Executive Officer
◇—◇◇◇—◇◇
R. Michael Ussery
President & Chief Operating Officer
◇—◇◇◇—◇◇
Brian Kidd
SVP & Chief Financial Officer
◇—◇◇◇—◇◇
Josh McCreary
SVP, General Counsel & Secretary
◇—◇◇◇—◇◇
B. Anderson Flatt
SVP & Chief Information Officer
◇—◇◇◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Stephen Flatt
Chief Executive Officer
◇—◇◇◇—◇◇
R. Michael Ussery
President & Chief Operating Officer (Retired)
Departed during or after this year
◇—◇◇◇—◇◇
Brian Kidd
SVP & Chief Financial Officer
◇—◇◇◇—◇◇
Josh McCreary
SVP, General Counsel & Secretary
◇—◇◇◇—◇◇
B. Anderson Flatt
SVP & Chief Information Officer
◇—◇◇◇—◇◇
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
B. Anderson FlattRSU◇——◇——◇
B. Anderson FlattOPTION◇——◇—◇◇
Brian F. KiddRSU◇——◇——◇
Brian F. KiddOPTION◇——◇—◇◇
Josh A. McCrearyOPTION◇——◇—◇◇
Josh A. McCrearyRSU◇——◇——◇
R. Michael UsseryRSU◇——◇——◇
R. Michael UsseryOPTION◇——◇—◇◇
Stephen F. FlattRSU◇——◇——◇
Stephen F. FlattOPTION◇——◇—◇◇
Fiscal 2023, 2024 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 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Brian KiddOption◇—◇—
Option◇—◇—
Option◇—◇—
PSU◇◇——
Stephen FlattOption◇—◇—
PSU◇◇——
Option◇—◇—
Option◇—◇—
B. FlattOption◇—◇—
Option◇—◇—
PSU◇◇——
Option◇—◇—
Josh McCrearyOption◇—◇—
Option◇—◇—
PSU◇◇——
Option◇—◇—
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
Richard F. LaRoche
◇—◇——◇◇
Sandra Y. Trail
◇—◇——◇◇
Robert G. Adams
Board chair
◇—◇——◇◇
Emil E. Hassan
◇—◇——◇◇
J. Paul Abernathy
◇—◇——◇◇
W. Andrew Adams
◇————◇◇
Lisa Piercey
◇—————◇
David R. Gifford, William A. Adams and Stephen F. Flatt 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.
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.
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇
Equity is delivered as Options.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 7, 2026=◇◇◇
2024May 8, 2025=◇◇◇
2023May 9, 2024=◇◇◇
2022May 4, 2023=◇◇◇
2019May 7, 2020=◇◇◇
2016May 9, 2017=◇◇◇

Chief executive pay ratio

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

Everything above is a fact National Healthcare disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
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.
242 figures on this page: 236 cited to the filing that reported them, 6 calculated from figures it prints.
236 cited to the filing
6 calculated from the filing

Documents cited

  1. 0001437749-26-016571
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001140361-26-013005
    2025 DIRECTOR COMPENSATION · 2025 OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END · 2025 SUMMARY COMPENSATION TABLE* · CEO Pay Ratio · and 3 more sections
  3. 0001437749-25-016458
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001140361-25-011007
    2024 SUMMARY COMPENSATION TABLE*
  5. 0001437749-24-016722
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001140361-24-018333
    2023 SUMMARY COMPENSATION TABLE*
  7. 0001437749-23-013160
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001140361-23-013392
    Summary Compensation Table
  9. 0001437749-20-010340
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0001047335-17-000114
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “National Healthcare executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/NHC (accessed 2026).
Short form: data: Velarion

The paid brief for National Healthcare

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
$1,500 for the Executive Compensation Report. Both reports for $2,400.
Get the executive briefGet the board briefNo account needed.
10 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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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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