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Biopharma & Life Sciences

Waters Executive Compensation (FY25)

WAT · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): May 22, 2026
294 figures on this page: 284 cited to the filing that reported them, 10 calculated from figures it prints. See the citations
Total compensation for Udit Batra, President & CEO, came to $13,973,044 in fiscal 2025, and compared with the $11,148,038 reported for fiscal 2024, Batra's total was 25.3% higher. Shareholders supported the say-on-pay proposal with 87.8% of votes cast for or against in favor at the meeting held May 21, 2026 for fiscal 2025. The disclosed peer group names Agilent, Avantor, Bio-Rad Laboratories, Bio-Techne and Catalent, among others. The fiscal 2025 disclosure covers 4 named executive officers.
Chief executive, fiscal 2025
◇
Udit Batra
Latest say-on-pay support
=
May 21, 2026
Chief executive pay ratio
◇
To the median employee
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 — Udit Batra: $11,148,038 → $13,973,044 (25.3% higher)
Say-on-pay support: 82.4% → 87.8% (5.4 points higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Waters' chief executive and what were they paid?
Total compensation for Udit Batra, President & CEO, came to $13,973,044 in fiscal 2025. Compared with the $11,148,038 reported for fiscal 2024, Batra's total was 25.3% higher.
What was Waters' say-on-pay result?
Shareholders supported the say-on-pay proposal with 87.8% of votes cast for or against in favor at the meeting held May 21, 2026 for fiscal 2025.
Which companies are in Waters' peer group?
The disclosed peer group names Agilent, Avantor, Bio-Rad Laboratories, Bio-Techne and Catalent, among others.
What is Waters' chief executive pay ratio?
The company reported a chief executive pay ratio of 153:1 for fiscal 2025, against median employee compensation of $92,793.

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
Udit Batra
President and Chief Executive Officer
◇—◇◇◇—◇◇
Amol Chaubal
Senior Vice President and Chief Financial Officer
◇—◇◇◇—◇◇
Jonathan Pratt
Senior Vice President, Waters Division
◇—◇◇◇—◇◇
Jianqing Y. Bennett
Senior Vice President, TA Instruments Division
◇—◇◇◇—◇◇
Keeley Aleman
Senior Vice President, General Counsel and Secretary
◇—◇◇◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Udit Batra
President and Chief Executive Officer
◇—◇◇——◇◇
Amol Chaubal
Senior Vice President and Chief Financial Officer
◇—◇◇——◇◇
Jonathan M. Pratt
Former Senior Vice President, Waters Division
Departed during or after this year
◇—◇◇——◇◇
Jianqing Y. Bennett
Senior Vice President, TA Instruments Division
◇—◇◇——◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Udit Batra
President & CEO
◇—◇◇◇—◇◇
Amol Chaubal
SVP & CFO
◇—◇◇◇—◇◇
Jianqing Y. Bennett
SVP, TA & Clinical Division
◇—◇◇◇—◇◇
Robert Carpio III
SVP, Waters Division
◇◇◇◇◇——◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Udit Batra
President & CEO
◇—◇◇◇—◇◇
Amol Chaubal
Senior Vice President and Chief Financial Officer
◇—◇◇◇—◇◇
Jianqing Bennett
Senior Vice President, TA Instruments Division and Clinical Business Unit
◇—◇◇◇—◇◇
Robert Carpio III
Senior Vice President, Waters Division
◇—◇◇◇—◇◇
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
Amol ChaubalPSU◇◇◇—◇—◇
Amol ChaubalPSU◇◇◇—◇—◇
Amol ChaubalOPTION◇——◇—◇◇
Amol ChaubalRSU◇——◇——◇
Amol ChaubalOPTION◇——◇—◇◇
Jianqing Y. BennettPSU◇◇◇—◇—◇
Jianqing Y. BennettOPTION◇——◇—◇◇
Jianqing Y. BennettPSU◇◇◇—◇—◇
Jianqing Y. BennettOPTION◇——◇—◇◇
Jianqing Y. BennettRSU◇——◇——◇
Robert Carpio IIIPSU◇◇◇—◇—◇
Robert Carpio IIIOPTION◇——◇—◇◇
Robert Carpio IIIRSU◇——◇——◇
Robert Carpio IIIOPTION◇——◇—◇◇
Robert Carpio IIIRSU◇——◇——◇
Udit BatraOPTION◇——◇—◇◇
Udit BatraPSU◇◇◇—◇—◇
Udit BatraPSU◇◇◇—◇—◇
Udit BatraOPTION◇——◇—◇◇
Udit BatraRSU◇——◇——◇
Fiscal 2022, 2023 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
Udit BatraOption◇—◇02/17/2032
Option◇—◇02/08/2033
Option◇—◇02/07/2034
PSU◇◇——
PSU◇◇——
RSU◇◇——
Option◇—◇02/05/2035
PSU◇◇——
Option◇—◇02/18/2031
Robert CarpioOption◇—◇02/05/2035
Option◇—◇06/24/2034
RSU◇◇——
PSU◇◇——
RSU◇◇——
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
Flemming Ørnskov
Board chair
◇◇◇———◇
Linda Baddour
◇◇◇———◇
Richard Fearon
◇◇◇———◇
Daniel Brennan
◇◇◇———◇
Christopher A. Kuebler
◇◇◇———◇
Pearl S. Huang
◇◇◇———◇
Mark Vergnano
◇◇◇———◇
Heather Knight
◇◇◇———◇
Wei Jiang
◇◇◇———◇
Claire M. Fraser and Udit Batra 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◇
Compensation committee chair◇
Nominating and governance chair◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Agilent A
  • Avantor AVTR
  • Bio-Rad Laboratories BIO
  • Bio-Techne TECH
  • Catalent CTLT
  • Charles River Laboratories CRL
  • Cooper Companies COO
  • Edwards Lifesciences EW
  • Hologic HOLX
  • IDEXX Laboratories IDXX
  • Illumina ILMN
  • Laboratories SLAB
  • Mettler-Toledo MTD
  • ResMed RMD
  • Revvity RVTY
  • STERIS STE
  • Teleflex TFX
  • West Pharmaceutical WST

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 21, 2026=◇◇◇
2024May 22, 2025=◇◇◇
2023May 23, 2024=◇◇◇
2022May 23, 2023=◇◇◇
2021May 24, 2022=◇◇◇
2020May 11, 2021=◇◇◇
2019May 12, 2020=◇◇◇
2018May 14, 2019=◇◇◇
2016May 9, 2017=◇◇◇
2015May 11, 2016=◇◇◇

Chief executive pay ratio

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

Everything above is a fact Waters disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Waters 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 — $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.
294 figures on this page: 284 cited to the filing that reported them, 10 calculated from figures it prints.
284 cited to the filing
10 calculated from the filing

Documents cited

  1. 0001193125-26-236929
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001193125-26-149657
    2025 Outstanding Equity Awards at Fiscal Year-End · DIRECTOR COMPENSATION · Director Compensation · Grants of Plan-Based Awards · and 1 more section
  3. 0001193125-25-125877
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001193125-25-076853
    Summary Compensation Table
  5. 0001193125-24-147025
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001193125-24-094000
    Summary Compensation Table
  7. 0001193125-23-153040
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001193125-23-099946
    Summary Compensation Table
  9. 0001193125-22-159800
  10. 0001193125-21-158713
  11. 0001193125-20-140955
    Item 5.07 Submission of Matters to a Vote of Security Holders
  12. 0001193125-19-149014
    Item 5.07 Submission of Matters to a Vote of Security Holders
  13. 0001193125-17-167223
    Item 5.07 Submission of Matters to a Vote of Security Holders
  14. 0001193125-16-589721
    Item 5.07 Submission of Matters to a Vote of Security Holders
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Velarion, “Waters executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/WAT (accessed 2026).
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Biopharma & Life Sciences rankings

Chief executive pay — Biopharma & Life SciencesCEO pay ratio — Biopharma & Life SciencesSay-on-pay support — Biopharma & Life Sciences

Peers Waters discloses

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

AgilentAvantorBio-Rad LaboratoriesBio-TechneCharles River LaboratoriesCooper CompaniesEdwards LifesciencesHologicIlluminaLaboratoriesMettler-ToledoResMedRevvitySTERISTeleflexWest Pharmaceutical

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
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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