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MedTech & Diagnostics

Orthofix Medical Executive Compensation (FY25)

OFIX · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Massimo Calafiore
Latest say-on-pay support
=
June 10, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of October 22, 2026Latest filing (8-K): June 11, 2026
7 filings cited on this page
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271 figures on this page: 269 cited to the filing that reported them, 2 calculated from figures it prints. See the citations
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 — Massimo Calafiore: $10,629,953 → $7,310,039 (31.2% lower)
CEO pay ratio: 126:1 → 81:1 (35.7% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Orthofix Medical's chief executive and what were they paid?
Total compensation for Massimo Calafiore, President and Chief Executive Officer, came to $7,310,039 in fiscal 2025. Compared with the $10,629,953 reported for fiscal 2024, Calafiore's total was 31.2% lower.
What was Orthofix Medical's say-on-pay result?
The say-on-pay proposal drew 81.4% support at the meeting held June 10, 2026 for fiscal 2025.
Which companies are in Orthofix Medical's peer group?
Companies named in the disclosed peer group include Accuray Inc., Alphatec Holdings Inc., AtriCure, Inc., Avanos Medical, Inc. and Bioventus Inc., among others.
What is Orthofix Medical's chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 81:1, against median employee compensation of $90,363.

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
Kimberley Elting
Former President, Global Orthopedics and Interim Chief Legal Officer
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Kimberley Elting
Former President, Global Orthopedics and Interim Chief Legal Officer
◇◇◇◇◇—◇◇
Catherine Burzik
Former Interim Chief Executive Officer
◇◇◇—◇—◇◇
Geoffrey Gillespie
Chief Accounting Officer and Former Interim Chief Financial Officer
◇—◇◇◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Massimo Calafiore
President and Chief Executive Officer
◇—◇◇◇—◇◇
Lucas Vitale
Chief People and Business Operations Officer
◇—◇◇◇—◇◇
Julie Andrews
Chief Financial Officer
◇—◇◇◇—◇◇
Kimberley Elting
Former President, Global Orthopedics and Interim Chief Legal Officer
Departed during or after this year
◇◇◇◇——◇◇
Max Reinhardt
President, Global Spine
◇—◇◇◇—◇◇
J. Andrés Cedrón
Chief Legal Officer
◇—◇◇◇—◇◇
Geoffrey Gillespie
Chief Accounting Officer and Former Interim Chief Financial Officer
◇◇◇◇◇—◇◇
Catherine Burzik
Former Interim Chief Executive Officer
Departed during or after this year
◇—————◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Massimo Calafiore
President and Chief Executive Officer
◇—◇◇◇—◇◇
Julie Andrews
Chief Financial Officer
◇—◇◇◇—◇◇
J. Andrés Cedrón
Chief Legal Officer
◇—◇◇◇—◇◇
Aviva McPherron
President, Global Operations and Quality
◇—◇◇◇—◇— not reconciled
Patrick Fisher
President, Global Biologics and Limb Reconstruction
◇◇◇◇◇—◇◇
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
Aviva McPherronRSU◇——◇——◇
Aviva McPherronOPTION◇——◇—◇◇
Aviva McPherronPSU◇—◇—◇—◇
J. AndrRSU◇——◇——◇
J. AndrPSU◇—◇—◇—◇
J. AndrOPTION◇——◇—◇◇
Julie AndrewsRSU◇——◇——◇
Julie AndrewsPSU◇—◇—◇—◇
Julie AndrewsOPTION◇——◇—◇◇
Massimo CalafioreRSU◇——◇——◇
Massimo CalafiorePSU◇—◇—◇—◇
Massimo CalafioreOPTION◇——◇—◇◇
Patrick FisherPSU◇—◇—◇—◇
Patrick FisherRSU◇——◇——◇
Patrick FisherOPTION◇——◇—◇◇
Fiscal 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
Julie AndrewsRSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
Option◇—◇—
Massimo CalafiorePSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇—
Option◇—◇—
Option◇—◇—
Aviva McPherronPSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇—
J. Andrés CedrónPSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇—
Option◇—◇—
Patrick FisherPSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇—
Option◇—◇—
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
Julie Andrews
Chief Financial Officer · Change-in-control agreement
Severance multiple◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Clawback◇
Massimo Calafiore
President and Chief Executive Officer · Change-in-control agreement
Severance multiple◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Patrick Fisher
President, Global Biologics and Limb Reconstruction · Change-in-control agreement
Severance multiple◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Vickie L. Capps
◇◇◇———◇
Michael M. Finegan
◇◇————◇
John B. Henneman III
◇◇————◇
Jason M. Hannon
◇◇————◇
Charles R. Kummeth
◇◇————◇
Wayne Burris
◇◇————◇
Shweta S. Maniar
◇◇————◇
Alan L. Bazaar
◇◇————◇
Michael E. Paolucci
◇◇————◇
Massimo Calafiore 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.
Board cash retainer◇
Board equity retainer◇
Equity is delivered as Deferred Stock Units.
Stock ownership guideline: Robust stock ownership guidelines for our executive officers and directors

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Accuray Inc. ARAY
  • Alphatec Holdings Inc. ATEC
  • AtriCure, Inc. ATRC
  • Avanos Medical, Inc. AVNS
  • Bioventus Inc. BVS
  • CONMED Corporation CNMD
  • Enovis Corporation ENOV
  • Globus Medical, Inc. GMED
  • Haemonetics Corporation HAE
  • Inari Medical, Inc. NARI
  • Integer Holdings Corporation ITGR
  • Integra LifeSciences Holdings Corporation IART
  • LivaNova PLC LIVN
  • Merit Medical Systems, Inc. MMSI
  • Nevro Corp. NVRO
  • ZimVie Inc. ZIMV

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025June 10, 2026=◇◇◇
2024June 18, 2025=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

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Sample answer — “What is the CEO’s total compensation?”
- Massimo Calafiore (President and Chief Executive Officer), FY2025 total compensation $7,310,039 (base salary $848,322) [exec_comp, SEC accession 0001193125-26-191716, filed 2026-04-29]

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What this page does not include

Everything above is a fact Orthofix Medical disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Orthofix Medical 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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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.
271 figures on this page: 269 cited to the filing that reported them, 2 calculated from figures it prints.
269 cited to the filing
2 calculated from the filing

Documents cited

  1. 0001193125-26-266679
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001193125-26-191716
    CEO Pay Ratio · Director Compensation · Grants of Plan-Based Awards · Outstanding Equity Awards at Fiscal Year-End · and 1 more section
  3. 0000950170-25-088194
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0000950170-25-061062
    Summary Compensation Table
  5. 0000950170-24-122782
    Exhibit
  6. 0000950170-24-005068
    Exhibit
  7. 0000950170-24-003420
    Exhibit
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Orthofix Medical executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/OFIX (accessed 2026).
Short form: data: Velarion

The Orthofix Medical brief, $1,500

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $499 for the board report; $2,400 for both.
Get the executive briefGet the board briefNo account needed.
7 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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MedTech & Diagnostics rankings

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

Peers Orthofix Medical discloses

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

Accuray Inc.Alphatec Holdings Inc.AtriCure, Inc.Avanos Medical, Inc.Bioventus Inc.CONMED CorporationEnovis CorporationGlobus Medical, Inc.Haemonetics CorporationInari Medical, Inc.Integer Holdings CorporationIntegra LifeSciences Holdings CorporationLivaNova PLCMerit Medical Systems, Inc.Nevro Corp.ZimVie Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

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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