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Payments & Financial Infrastructure

WEX Inc Executive Compensation (FY24)

WEX · Executive and director compensation, fiscal 2022 to 2024
Data as of September 7, 2026Latest filing (8-K): May 14, 2026
249 figures on this page: 239 cited to the filing that reported them, 10 calculated from figures it prints. See the citations
Melissa Smith, Chair, CEO, and President, received $12,594,328 in total compensation for fiscal 2024, and compared with the $10,182,949 reported for fiscal 2022, Smith's total was 23.7% higher. The disclosed chief executive pay ratio for fiscal 2024 is 103:1, against median employee compensation of $122,229. Shareholders supported the say-on-pay proposal with 96.2% of votes cast for or against in favor at the meeting held May 14, 2026 for fiscal 2025. Companies named in the disclosed peer group include ACI Worldwide, BILL Holdings, Inc., Block, Inc., Broadridge Financial Solutions, Inc. and Corpay, Inc., among others.
Chief executive, fiscal 2024
◇
Melissa Smith
Latest say-on-pay support
=
May 14, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2022 to fiscal 2024
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Melissa Smith: $10,182,949 → $12,594,328 (23.7% higher)
Say-on-pay support: 95.4% → 96.2% (0.8 points higher)
CEO pay ratio: 131:1 → 103:1 (21.4% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is WEX Inc's chief executive and what were they paid?
Melissa Smith, Chair, CEO, and President, received $12,594,328 in total compensation for fiscal 2024. Compared with the $10,182,949 reported for fiscal 2022, Smith's total was 23.7% higher.
What was WEX Inc's say-on-pay result?
Shareholders supported the say-on-pay proposal with 96.2% of votes cast for or against in favor at the meeting held May 14, 2026 for fiscal 2025.
Which companies are in WEX Inc's peer group?
Companies named in the disclosed peer group include ACI Worldwide, BILL Holdings, Inc., Block, Inc., Broadridge Financial Solutions, Inc. and Corpay, Inc., among others.
What is WEX Inc's chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2024 is 103:1, against median employee compensation of $122,229.

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
Melissa Smith
Chair, Chief Executive Officer (CEO) and President
◇—◇◇◇—◇◇
Jagtar Narula
Chief Financial Officer
◇—◇◇◇—◇◇
Karen Stroup
Chief Digital Officer
◇◇◇◇◇—◇◇
Robert Deshaies
Chief Operating Officer, Americas
◇—◇◇◇—◇◇
Jay Dearborn
Chief Strategy Officer
◇—◇◇◇—◇◇
Jennifer Kimball
Former Interim Chief Financial Officer and Chief Accounting Officer
Departed during or after this year
Served on an interim basis
◇—◇◇◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Melissa Smith
Chair, CEO, and President
◇—◇—◇◇◇◇
Jagtar Narula
Chief Financial Officer
◇—◇—◇—◇◇
Sachin Dhawan
Chief Technology Officer
◇—◇—◇—◇◇
Robert Deshaies
Chief Operating Officer, Benefits
◇—◇—◇—◇◇
Karen Stroup
Chief Digital 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 2024
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Jagtar NarulaPSU◇—◇—◇—◇
Jagtar NarulaRSU◇——◇——◇
Karen StroupPSU◇—◇—◇—◇
Karen StroupRSU◇——◇——◇
Melissa SmithPSU◇—◇—◇—◇
Melissa SmithPSU◇—◇—◇—◇
Robert DeshaiesPSU◇—◇—◇—◇
Robert DeshaiesRSU◇——◇——◇
Robert DeshaiesPSU◇—◇—◇—◇
Sachin DhawanRSU◇——◇——◇
Sachin DhawanPSU◇—◇—◇—◇
Sachin DhawanPSU◇—◇—◇—◇
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 2024 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Karen StroupPSU◇◇——
RSU◇◇——
Option◇—◇3/15/2032
Option◇—◇3/15/2033
Melissa SmithOption◇—◇3/16/2030
Option◇—◇3/15/2032
Option◇—◇3/20/2029
Option◇—◇3/15/2031
PSU◇◇——
RSU◇◇——
Option◇—◇3/15/2033
Option◇—◇3/20/2027
Option◇—◇3/15/2028
Option◇—◇5/10/2027
Jagtar NarulaOption◇—◇6/15/2032
PSU◇◇——
Option◇—◇3/15/2033
RSU◇◇——
Robert DeshaiesOption◇—◇3/15/2026
Option◇—◇3/15/2028
Option◇—◇3/15/2031
Option◇—◇3/15/2032
Option◇—◇3/15/2033
Option◇—◇3/20/2027
PSU◇◇——
RSU◇◇——
Option◇—◇3/16/2030
Option◇—◇3/20/2029
Sachin DhawanPSU◇◇——
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 2024
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Aimee Cardwell
◇◇————◇
Jack VanWoerkom
Lead independent director
◇◇————◇
Derrick Roman
◇◇————◇
Stephen Smith
◇◇————◇
Daniel Callahan
◇◇————◇
Nancy Altobello
◇◇————◇
James Groch
◇◇————◇
James Neary
◇◇————◇
Susan Sobbott
◇◇————◇
Shikhar Ghosh
◇◇————◇
Regina O. Sommer
◇—————◇
Melissa Smith served on the board in fiscal 2024 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◇
Lead independent director premium◇
Audit committee chair◇
Compensation committee chair◇
Nominating and governance chair◇
Equity is delivered as restricted stock units.
Stock ownership guideline: 5x annual non-employee director cash retainer

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2024
  • ACI Worldwide ACIW
  • BILL Holdings, Inc. BILL
  • Block, Inc. XYZ
  • Broadridge Financial Solutions, Inc. BR
  • Corpay, Inc. CPAY
  • CSG Systems International, Inc. CSGS
  • Dayforce, Inc. DAY
  • Euronet Worldwide, Inc. EEFT
  • EVERTEC, Inc. EVTC
  • Fair Isaac Corporation FICO
  • HealthEquity, Inc. HQY
  • Jack Henry & Associates, Inc. JKHY
  • Paychex, Inc. PAYX
  • Paycom Software, Inc. PAYC
  • Paylocity Holding Corporation PCTY
  • TransUnion TRU

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 14, 2026=◇◇◇
2024May 15, 2025=◇◇◇
2023May 9, 2024=◇◇◇
2022May 11, 2023=◇◇◇
2021May 12, 2022=◇◇◇
2020June 4, 2021=◇◇◇
2019May 14, 2020=◇◇◇
2018May 9, 2019=◇◇◇
2017May 11, 2018=◇◇◇
2016May 12, 2017=◇◇◇

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 WEX Inc disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where WEX Inc 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.
249 figures on this page: 239 cited to the filing that reported them, 10 calculated from figures it prints.
239 cited to the filing
10 calculated from the filing

Documents cited

  1. 0001309108-26-000019
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001309108-25-000146
    Item 5.07 Submission of Matters to a Vote of Security Holders
  3. 0001309108-25-000073
    2024 Director Compensation · 2024 Summary Compensation Table · CEO Pay Ratio · Director Compensation · and 2 more sections
  4. 0001628280-24-023337
    Item 5.07 Submission of Matters to a Vote of Security Holders
  5. 0001309108-23-000109
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001309108-23-000077
    2022 Summary Compensation Table
  7. 0001309108-22-000087
  8. 0001309108-21-000168
  9. 0001309108-20-000123
  10. 0001309108-19-000116
  11. 0001309108-18-000107
  12. 0001309108-17-000135
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Velarion, “WEX Inc executive compensation, FY2022–FY2024.” https://intel.velarion.ai/comp/WEX (accessed 2026).
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Payments & Financial Infrastructure rankings

Chief executive pay — Payments & Financial InfrastructureCEO pay ratio — Payments & Financial InfrastructureSay-on-pay support — Payments & Financial Infrastructure

Peers WEX Inc discloses

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

ACI WorldwideBILL Holdings, Inc.Block, Inc.Broadridge Financial Solutions, Inc.Corpay, Inc.CSG Systems International, Inc.Euronet Worldwide, Inc.EVERTEC, Inc.Fair Isaac CorporationJack Henry & Associates, Inc.Paycom Software, Inc.Paylocity Holding Corporation

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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