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Asset Management

Virtus Investment Partners Executive Compensation (FY25)

VRTS · Hartford, CT · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
George Aylward
Latest say-on-pay support
=
May 20, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of October 22, 2026Latest filing (8-K): May 20, 2026
14 filings cited on this page
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280 figures on this page: 270 cited to the filing that reported them, 10 calculated from figures it prints. See the citations

More on Virtus Investment Partners

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 — George Aylward: $6,858,917 → $6,309,500 (8.0% lower)
Say-on-pay support: 92.0% → 97.6% (5.6 points higher)
CEO pay ratio: 27.3:1 → 24:1 (12.1% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Virtus Investment Partners' chief executive and what were they paid?
George Aylward was paid $6,309,500 in total compensation as President and Chief Executive Officer for fiscal 2025. Aylward's total was 8.0% lower than the $6,858,917 reported for fiscal 2024.
What was Virtus Investment Partners' say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 97.6% of votes cast including abstentions in favor at the meeting held May 20, 2026.
Which companies are in Virtus Investment Partners' peer group?
Companies named in the disclosed peer group include Acadian Asset Management Inc., Affiliated Managers Group, Inc., AllianceBernstein Holding L.P., Artisan Partners Asset Management Inc. and Cohen & Steers, Inc., among others.
What is Virtus Investment Partners' chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 24:1, against median employee compensation of $263,420.

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
George Aylward
President and Chief Executive Officer
◇—◇—◇—◇◇
Richard Smirl
Executive Vice President, Chief Operating Officer
◇◇◇—◇—◇◇
Michael Angerthal
Executive Vice President, Chief Financial Officer and Treasurer
◇—◇—◇—◇◇
Barry Mandinach
Executive Vice President, Head of Distribution
◇—◇—◇—◇◇
Wendy J. Hills
Executive Vice President, Chief Legal Officer, General Counsel and Corporate Secretary
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
George Aylward
President, Chief Executive Officer and Director
◇—◇—◇—◇◇
Richard Smirl
Executive Vice President, Chief Operating Officer
◇—◇—◇—◇◇
Michael Angerthal
Executive Vice President, Chief Financial Officer and Treasurer
◇—◇—◇—◇◇
Barry Mandinach
Executive Vice President, Head of Distribution
◇—◇—◇—◇◇
Mardelle Peña
Executive Vice President, Chief Human Resources Officer
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
George Aylward
President and Chief Executive Officer
◇—◇—◇—◇◇
Michael Angerthal
Executive Vice President Chief Financial Officer
◇—◇—◇—◇◇
Richard Smirl
Executive Vice President Chief Operating Officer
◇—◇—◇—◇◇
Andra Purkalitis
Executive Vice President Chief Legal Officer General Counsel and Corporate Secretary
◇◇◇—◇—◇◇
Barry Mandinach
Executive Vice President
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
George Aylward
President and Chief Executive Officer
◇—◇—◇—◇◇
Richard Smirl
Executive Vice President, Chief Operating Officer
◇—◇—◇—◇◇
Michael Angerthal
Executive Vice President, Chief Financial Officer and Treasurer
◇—◇—◇—◇◇
Barry Mandinach
Executive Vice President, Head of Distribution
◇—◇—◇—◇◇
Andra Purkalitis
Executive Vice President, Chief Legal Officer, General Counsel and Corporate 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 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Andra C. PurkalitisPSU◇◇◇◇◇—◇
Barry M. MandinachPSU◇◇◇◇◇—◇
George R. AylwardPSU◇◇◇◇◇—◇
Michael A. AngerthalPSU◇◇◇◇◇—◇
Richard W. SmirlPSU◇◇◇◇◇—◇
Fiscal 2022, 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
George AylwardRSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Richard SmirlRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
Andra PurkalitisRSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Barry MandinachRSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
Michael AngerthalRSU◇◇——
PSU◇◇——
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.
Andra Purkalitis
Executive Vice President, Chief Legal Officer, General Counsel and Corporate Secretary · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Benefits continuation◇
Excise tax treatment◇
Barry Mandinach
Executive Vice President, Head of Distribution · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Equity acceleration on change in control◇
Benefits continuation◇
Excise tax treatment◇
George Aylward
President and Chief Executive Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Change-in-control multiple◇
Equity acceleration on change in control◇
Benefits continuation on change in control◇
Benefits continuation◇
Non-solicit period◇
Michael Angerthal
Executive Vice President, Chief Financial Officer and Treasurer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Equity acceleration on change in control◇
Benefits continuation◇
Excise tax treatment◇
Richard Smirl
Executive Vice President, Chief Operating Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Change-in-control trigger◇
Equity acceleration on change in control◇
Benefits continuation◇
Excise tax treatment◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Timothy A. Holt
Board chair
◇◇————◇
Melody L. Jones
◇◇————◇
Paul G. Greig
◇◇————◇
Susan S. Fleming
◇◇————◇
W. Howard Morris
◇◇————◇
John C. Weisenseel
◇◇————◇
Peter L. Bain
◇◇————◇
George R. Aylward 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◇
Board chair premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇
Equity is delivered as Common Stock.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Acadian Asset Management Inc. AAMI
  • Affiliated Managers Group, Inc. AMG
  • AllianceBernstein Holding L.P. AB
  • Artisan Partners Asset Management Inc. APAM
  • Cohen & Steers, Inc. CNS
  • Federated Hermes, Inc. FHI
  • Janus Henderson Group plc JHG
  • Victory Capital Holdings, Inc. VCTR
  • Wisdom Tree, Inc. symbol not shown

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 20, 2026=◇◇◇
2024May 14, 2025=◇◇◇
2023May 15, 2024=◇◇◇
2022May 17, 2023=◇◇◇
2021May 18, 2022=◇◇◇
2020May 14, 2021=◇◇◇
2019May 18, 2020=◇◇◇
2018May 15, 2019=◇◇◇
2017May 15, 2018=◇◇◇
2016May 19, 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?”
- George Aylward (President and Chief Executive Officer), FY2025 total compensation $6,309,500 (base salary $650,000) [exec_comp, SEC accession 0001193125-26-145685, filed 2026-04-07]

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What this page does not include

Everything above is a fact Virtus Investment Partners disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Virtus Investment Partners 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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Adviser switching and vote outcomes
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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.
280 figures on this page: 270 cited to the filing that reported them, 10 calculated from figures it prints.
270 cited to the filing
10 calculated from the filing

Documents cited

  1. 0000883237-26-000036
    Item 5.07 Submission of Matters to a Vote of Security Holders.
  2. 0001193125-26-145685
    2025 CEO Pay Ratio · DIRECTOR COMPENSATION · Grants of Plan-Based Awards · Outstanding Equity Awards at Fiscal Year-End · and 1 more section
  3. 0000883237-25-000054
    Item 5.07 Submission of Matters to a Vote of Security Holders.
  4. 0001193125-25-071431
    Compensation Discussion and Analysis · Summary Compensation Table
  5. 0000883237-24-000061
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001193125-24-086077
    Summary Compensation Table
  7. 0000883237-23-000058
  8. 0001193125-23-092435
    Summary Compensation Table
  9. 0000883237-22-000187
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0000883237-21-000149
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0000883237-20-000093
    Item 5.07 Submission of Matters to a Vote of Security Holders
  12. 0000883237-19-000055
    Item 5.07 Submission of Matters to a Vote of Security Holders
  13. 0000883237-18-000070
    Item 5.07 Submission of Matters to a Vote of Security Holders
  14. 0000883237-17-000053
    Item 5.07 Submission of Matters to a Vote of Security Holders
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Virtus Investment Partners executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/VRTS (accessed 2026).
Short form: data: Velarion

The paid brief for Virtus Investment Partners

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.
14 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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Asset Management rankings

Chief executive pay — Asset ManagementCEO pay ratio — Asset ManagementSay-on-pay support — Asset Management

Peers Virtus Investment Partners discloses

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

Acadian Asset Management Inc.Affiliated Managers Group, Inc.AllianceBernstein Holding L.P.Artisan Partners Asset Management Inc.Cohen & Steers, Inc.Federated Hermes, Inc.Janus Henderson Group plcVictory Capital Holdings, 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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