VELARION
COMPANY INTELLIGENCE
AI-assisted · human-edited

Executive pay and corporate governance, one company at a time, every number traceable to a public regulatory disclosure.

The Pay Desk reads the compensation and governance disclosures of nearly 3,000 U.S. public companies and reports the number, the design that produced it, and the document it came from.


3,431x
Flex Ltd. FY2026 CEO pay as a multiple of its median employee
0001308179-26-000365
$132.4M
A single option grant to one Dell executive, FY2026
0001193125-26-226734
$280,847,068
Wayfair FY2025 CEO pay, against a median employee at $49,254
0001616707-26-000074
Data card: Flex Ltd. FY2026, CEO pay 3,431 times the median employee. CEO total compensation $44.4 million against a median employee at $12.9 thousand. Source: public regulatory disclosure 0001308179-26-000365.Data card: Dell Technologies FY2026, a $132,400,000 option grant to Jeffrey Clarke. Source: public regulatory disclosure 0001193125-26-226734.Data card: Wayfair FY2025, CEO pay $280,847,068 against a median employee at $49,254, a ratio of 5,702. Source: public regulatory disclosure 0001616707-26-000074.

Three numbers, three disclosures. That is the entire format.


What the desk does

Most coverage of executive pay works from the one summary table and stops. That table is the least interesting thing a company files about pay.

The interesting parts are elsewhere and are also disclosed: the peer group a compensation committee selected for itself, the performance targets it chose not to publish, the grant that arrived out of cycle at several times the usual size, and the distance between what a pay plan was built to reward and what happened to the company.

We read all of it, structure it, and check it against itself. Then we publish one company at a time.


The evidence standard

  • Every assertion about a named company or executive reduces to a public regulatory disclosure, cited by accession number, in the item itself. Not in an appendix.
  • If we cannot cite it, we do not print it.
  • Adjectives describe pay designs, never people.
  • Nothing here is commentary on securities. This is data journalism about how companies pay people, and about what their investors did about it.
  • Commercial customers cannot buy, delay, or preview coverage. That sentence is in print from the first day so the first person who asks finds it already written.

The full methodology


AI, disclosed

The Pay Desk is AI-assisted and human-edited, and says so on every account it runs.

Extraction, anomaly detection, and first drafts are machine work. Publication is not. Every number a model writes is reconciled against the underlying structured record before a person sees it, and a draft whose numbers do not reconcile is rejected rather than edited into shape. Nothing reaches a reader without a human approving it.

The receipts are the point. Open the accession and check us.


Corrections

Corrected within 48 hours, at the top of the feed, and archived permanently. The corrections page

One company a day, before the open.

Weekly through the autumn, daily through proxy season. Free.

For informational purposes only. Not investment, legal, or compensation advice.  The Pay Desk · Methodology · Terms · Privacy