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MedTech & Diagnostics

Penumbra Executive Compensation (FY25)

PEN · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Adam Elsesser
Latest say-on-pay support
=
June 18, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of October 17, 2026Latest filing (8-K): June 22, 2026
16 filings cited on this page
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243 figures on this page: 233 cited to the filing that reported them, 10 calculated from figures it prints. See the citations
Total compensation for Adam Elsesser, Chairman, Chief Executive Officer and former President, came to $851,621 in fiscal 2025, and Elsesser's total moved 35.1% higher from the $630,467 reported for fiscal 2024. The company reported a chief executive pay ratio of 11:1 for fiscal 2025, against median employee compensation of $74,923. Shareholders supported the say-on-pay proposal with 96.9% of votes cast for or against in favor at the meeting held June 18, 2026 for fiscal 2025. The disclosed peer group names 10x Genomics, Bio-Techne, CONMED Corporation, Glaukos Corporation and Globus Medical, among others.

More on Penumbra

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 — Adam Elsesser: $630,467 → $851,621 (35.1% higher)
Say-on-pay support: 97.8% → 96.9% (0.9 points lower)
CEO pay ratio: 9:1 → 11:1 (22.2% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Penumbra's chief executive and what were they paid?
Total compensation for Adam Elsesser, Chairman, Chief Executive Officer and former President, came to $851,621 in fiscal 2025. Elsesser's total moved 35.1% higher from the $630,467 reported for fiscal 2024.
What was Penumbra's say-on-pay result?
Shareholders supported the say-on-pay proposal with 96.9% of votes cast for or against in favor at the meeting held June 18, 2026 for fiscal 2025.
Which companies are in Penumbra's peer group?
The disclosed peer group names 10x Genomics, Bio-Techne, CONMED Corporation, Glaukos Corporation and Globus Medical, among others.
What is Penumbra's chief executive pay ratio?
The company reported a chief executive pay ratio of 11:1 for fiscal 2025, against median employee compensation of $74,923.

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
Johanna Roberts
Executive Vice President, General Counsel and Secretary
◇—◇———◇◇
Maggie Yuen
Chief Financial Officer
◇—◇———◇◇
Lambert Shiu
Chief Accounting Officer
◇—◇———◇◇
Adam Elsesser
Chief Executive Officer and President
◇—————◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Maggie Yuen
Chief Financial Officer
◇—————◇◇
Johanna Roberts
Executive Vice President, General Counsel and Secretary
◇—————◇◇
Adam Elsesser
Chief Executive Officer and former President
◇—————◇◇
Lambert Shiu
Chief Accounting Officer
◇—————◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Johanna Roberts
Executive Vice President, General Counsel and Secretary
◇—◇———◇◇
Maggie Yuen
Chief Financial Officer
◇—◇———◇◇
Lambert Shiu
Chief Accounting Officer
◇—◇———◇◇
Adam Elsesser
Chief Executive Officer and former President
◇—————◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Shruthi Narayan
President
◇—◇———◇◇
Maggie Yuen
Chief Financial Officer
◇—◇———◇◇
Johanna Roberts
Executive Vice President, General Counsel and Secretary
◇—◇———◇◇
Lambert Shiu
Chief Accounting Officer
◇—◇———◇◇
Adam Elsesser
Chairman, Chief Executive Officer and former President
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
Johanna RobertsRSU◇——◇——◇
Johanna RobertsPSU—◇◇—◇——
Johanna RobertsRSU◇——◇——◇
Johanna RobertsRSU◇——◇——◇
Lambert ShiuRSU◇——◇——◇
Lambert ShiuRSU◇——◇——◇
Lambert ShiuPSU—◇◇—◇——
Lambert ShiuRSU◇——◇——◇
Maggie YuenRSU◇——◇——◇
Maggie YuenRSU◇——◇——◇
Maggie YuenRSU◇——◇——◇
Maggie YuenPSU—◇◇—◇——
Shruthi NarayanPSU—◇◇—◇——
Shruthi NarayanRSU◇——◇——◇
Shruthi NarayanRSU◇——◇——◇
Shruthi NarayanRSU◇——◇——◇
Shruthi NarayanRSU◇——◇——◇
Fiscal 2022 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
Johanna RobertsRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Lambert ShiuRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Shruthi NarayanRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Maggie YuenRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
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.
Adam Elsesser
Chairman, Chief Executive Officer and former President
Change-in-control trigger◇
Equity acceleration on change in control◇
Excise tax treatment◇
Clawback◇
Johanna Roberts
Executive Vice President, General Counsel and Secretary · Offer letter
Change-in-control trigger◇
Equity acceleration on change in control◇
Excise tax treatment◇
Clawback◇
Lambert Shiu
Chief Accounting Officer · Terms as described in the company’s compensation discussion · citing a 2026 filing
Equity acceleration on change in control◇
Shruthi Narayan
President · Terms as described in the company’s compensation discussion · citing a 2026 filing
Equity acceleration on change in control◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Bridget O'Rourke
◇◇————◇
Thomas Wilder
Lead independent director
◇◇————◇
Janet Leeds
◇◇————◇
Surbhi Sarna
◇◇————◇
Harpreet Grewal
◇◇————◇
Arani Bose
◇◇————◇
Arani Bose, M.D
◇◇————◇
Adam Elsesser and Don Kassing 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◇
Total board retainer◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇
Equity is delivered as restricted stock units.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • 10x Genomics TXG
  • Bio-Techne TECH
  • CONMED Corporation CNMD
  • Glaukos Corporation GKOS
  • Globus Medical GMED
  • Haemonetics Corporation HAE
  • Inspire Medical Systems INSP
  • Insulet Corporation PODD
  • Integer Holdings ITGR
  • Integra LifeSciences Holdings IART
  • iRhythm Technologies IRTC
  • Lantheus Holdings LNTH
  • LivaNova PLC LIVN
  • Masimo Corporation MASI
  • Medpace Holdings MEDP
  • Merit Medical Systems MMSI
  • Neogen Corporation NEOG
  • QuidelOrtho Corporation QDEL
  • Sotera Health Company SHC
  • Tandem Diabetes Care TNDM
  • Teladoc Health TDOC

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025June 18, 2026=◇◇◇
2024May 28, 2025=◇◇◇
2023June 5, 2024=◇◇◇
2022May 31, 2023=◇◇◇
2021June 1, 2022=◇◇◇
2020June 2, 2021=◇◇◇
2019June 3, 2020=◇◇◇
2018June 5, 2019=◇◇◇
2017June 6, 2018=◇◇◇
2016June 7, 2017=◇◇◇

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?”
- Adam Elsesser (Chairman, Chief Executive Officer and former President), FY2025 total compensation $851,621 (base salary $850,000) [exec_comp, SEC accession 0001321732-26-000010, filed 2026-04-29]

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What this page does not include

Everything above is a fact Penumbra disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Penumbra 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 — $499
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.
243 figures on this page: 233 cited to the filing that reported them, 10 calculated from figures it prints.
233 cited to the filing
10 calculated from the filing

Documents cited

  1. 0001321732-26-000030
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001321732-26-000010
    2025 Director Compensation Table · 2025 Outstanding Equity Awards at Fiscal Year-End Table · 2025 Summary Compensation Table · CEO Pay Ratio · and 2 more sections
  3. 0001321732-25-000093
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001321732-25-000074
    2024 Summary Compensation Table
  5. 0001321732-24-000075
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001321732-24-000052
    2023 Summary Compensation Table
  7. 0001321732-23-000072
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001321732-23-000054
  9. 0001321732-22-000061
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0001321732-21-000050
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0001321732-20-000094
    Item 5.07 Submission of Matters to a Vote of Security Holders
  12. 0001321732-20-000047
    Exhibit
  13. 0001321732-19-000068
    The compensation of the Company’s Named Executive Officers was approved, on an advisory basis, based on the following results of voting: Votes For Votes Against Abstentions Broker Non-Votes
  14. 0001321732-18-000077
    Item 5.07 Submission of Matters to a Vote of Security Holders
  15. 0001321732-17-000124
    Item 5.07 Submission of Matters to a Vote of Security Holders
  16. 0001193125-15-291880
    Exhibit
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Velarion, “Penumbra executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/PEN (accessed 2026).
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The paid brief for Penumbra

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
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16 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 Penumbra discloses

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

10x GenomicsBio-TechneCONMED CorporationGlaukos CorporationGlobus MedicalHaemonetics CorporationInspire Medical SystemsInsulet CorporationInteger HoldingsIntegra LifeSciences HoldingsiRhythm TechnologiesLantheus HoldingsLivaNova PLCMasimo CorporationMedpace HoldingsMerit Medical SystemsNeogen CorporationQuidelOrtho CorporationSotera Health CompanyTandem Diabetes CareTeladoc Health

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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