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Payments & Financial Infrastructure

WEX Inc Executive Compensation (FY25)

WEX · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Melissa Smith
Latest say-on-pay support
=
May 14, 2026
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Data as of October 18, 2026Latest filing (8-K): May 14, 2026
13 filings cited on this page
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294 figures on this page: 284 cited to the filing that reported them, 10 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 — Melissa Smith: $12,594,328 → $13,446,221 (6.8% higher)
Say-on-pay support: 95.4% → 96.2% (0.8 points higher)

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 $13,446,221 in total compensation for fiscal 2025. Compared with the $12,594,328 reported for fiscal 2024, Smith's total was 6.8% 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 Affirm Holdings, Inc., AvidXchange Holdings, Inc., Bread Financial Holdings, Inc., Equifax Inc. and Fidelity National Information Services, Inc., among others. Companies named in the 2025 Compensation Benchmarking Peer Group include ACI Worldwide, BILL Holdings, Inc., Block, Inc., Broadridge Financial Solutions, Inc. and Corpay, Inc., among others. The additional disclosed peer group names ACI Worldwide, BILL Holdings, Inc., Block, Inc., Broadridge Financial Solutions, Inc. and Corpay, Inc., among others.

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 2023
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
◇◇◇————◇
Jay Dearborn
Chief Operating Officer, International
◇—◇◇◇—◇◇
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
◇—◇—◇—◇◇
Jay Dearborn
Chief Operating Officer, International
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Melissa Smith
Chair, CEO, and President
◇—◇——◇◇◇
Sachin Dhawan
Chief Technology Officer
◇—◇———◇◇
Jagtar Narula
Chief Financial Officer
◇—◇———◇◇
Carlos Carriedo
Chief Operating Officer, Americas Payments & Mobility
◇—◇———◇◇
Jay Dearborn
Chief Operating Officer, International
◇—◇———◇◇
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
Carlos CarriedoPSU◇◇◇—◇—◇
Carlos CarriedoRSU◇——◇——◇
Carlos CarriedoRSU◇——◇——◇
Jagtar NarulaRSU◇——◇——◇
Jagtar NarulaRSU◇——◇——◇
Jagtar NarulaPSU◇◇◇—◇—◇
Jagtar NarulaPSU◇◇◇—◇—◇
Jay DearbornPSU◇◇◇—◇—◇
Jay DearbornRSU◇——◇——◇
Jay DearbornPSU◇◇◇—◇—◇
Jay DearbornRSU◇——◇——◇
Melissa SmithRSU◇——◇——◇
Melissa SmithPSU◇◇◇—◇—◇
Melissa SmithPSU◇◇◇—◇—◇
Sachin DhawanPSU◇◇◇—◇—◇
Sachin DhawanPSU◇◇◇—◇—◇
Sachin DhawanRSU◇——◇——◇
Sachin DhawanRSU◇——◇——◇
Fiscal 2022, 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
Melissa SmithPSU◇◇——
RSU◇◇——
Option◇—◇3/15/2033
Jagtar NarulaPSU◇◇——
RSU◇◇——
Option◇—◇3/15/2033
Sachin DhawanPSU◇◇——
RSU◇◇——
Carlos CarriedoRSU◇◇——
PSU◇◇——
Jay DearbornRSU◇◇——
PSU◇◇——
Option◇—◇3/15/2033
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.
Jagtar Narula
Chief Financial Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Equity acceleration on change in control◇
Melissa Smith
Chair, CEO, and President · Terms as described in the company’s compensation discussion · citing a 2025 filing
Change-in-control multiple◇
Equity acceleration on change in control◇
Sachin Dhawan
Chief Technology Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance cash amount◇
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
Jack VanWoerkom
Lead independent director
◇◇————◇
Derrick Roman
◇◇————◇
Stephen Smith
◇◇————◇
Daniel Callahan
◇◇————◇
James Groch
◇◇————◇
Nancy Altobello
◇◇————◇
Shikhar Ghosh
◇◇————◇
Susan Sobbott
◇◇————◇
Aimee Cardwell
◇◇————◇
James Neary
◇◇————◇
David Foss
◇—————◇
Melissa Smith 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◇
Lead independent director premium◇
Audit committee chair◇
Compensation committee chair◇
Nominating and governance chair◇
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
  • Affirm Holdings, Inc. AFRM
  • AvidXchange Holdings, Inc. AVDX
  • Bread Financial Holdings, Inc. BFH
  • Equifax Inc. EFX
  • Fidelity National Information Services, Inc. FIS
  • Fiserv, Inc. FI
  • Global Payments Inc. GPN
  • Marqeta, Inc. MQ
  • MAXIMUS, Inc. MMS
  • NCR Atleos Corporation NATL
  • Paymentus Holdings, Inc. PAY
  • Payoneer Global Inc. PAYO
  • PayPal Holdings, Inc. PYPL
  • Remitly Global, Inc. RELY
  • Shift4 Payments, Inc. FOUR
  • Toast, Inc. TOST
  • Voya Financial, Inc. VOYA
  • Western Union Company WU
2025 Compensation Benchmarking Peer Group
  • 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
Additional disclosed peer group
  • 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=◇◇◇

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- Melissa Smith (Chair, CEO, and President), FY2025 total compensation $13,446,221 (base salary $975,000) [exec_comp, SEC accession 0001213900-26-040033, filed 2026-04-03]

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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.
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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.
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. 0001309108-26-000019
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001213900-26-040033
    Director Compensation · Executive Compensation Tables
  3. 0001309108-25-000146
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001309108-25-000073
    Compensation Discussion and Analysis · Executive Compensation Tables
  5. 0001628280-24-023337
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001309108-23-000109
    Item 5.07 Submission of Matters to a Vote of Security Holders
  7. 0001309108-23-000077
    2022 Summary Compensation Table
  8. 0001309108-22-000087
  9. 0001309108-21-000168
  10. 0001309108-20-000123
  11. 0001309108-19-000116
  12. 0001309108-18-000107
  13. 0001309108-17-000135
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Velarion, “WEX Inc executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/WEX (accessed 2026).
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13 filings cited on this page
Method: intel.velarion.ai/methodology
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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.

Affirm Holdings, Inc.AvidXchange Holdings, Inc.Bread Financial Holdings, Inc.Equifax Inc.Fidelity National Information Services, Inc.Global Payments Inc.Marqeta, Inc.MAXIMUS, Inc.NCR Atleos CorporationPaymentus Holdings, Inc.Payoneer Global Inc.PayPal Holdings, Inc.Remitly Global, Inc.Shift4 Payments, Inc.Toast, Inc.Voya Financial, Inc.Western Union CompanyACI WorldwideBILL Holdings, Inc.Block, Inc.Broadridge Financial Solutions, Inc.Corpay, Inc.CSG Systems International, Inc.Dayforce, 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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