Align Technology management check
ALGN · Health Care · Health Care Supplies · CEO Joseph Hogan
Filings as of
4 good · 0 to watch · 2 flagged, across the seven questions below.
- Flag
Have owners done well?
Trailed its chosen peers$100 invested at the start of fiscal 2021 grew to $29, against $117 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.76 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Flag
What does the CEO cost owners?
4.7% of net income$19.2m of reported pay in fiscal 2025, against $410.0m of net income.
- n/a
Do they own the stock?
No recent CEO filingNo open-market insider buying or selling in the last six months.
- Good
Are owners being diluted?
Share count shrinkingDiluted shares changed -2.6% a year over the last three fiscal years. Stock-based pay was 4.6% of revenue in the latest year.
- Good
Is leadership stable?
8 leadership filings in 3 yearsCEO in the pay table: Joseph Hogan. 8 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Health Care.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 0 | 26 | |
| Pay for performance | 88 | 85 | |
| CEO cost | 0 | 44 | |
| Skin in the game | — | — | 46 |
| Dilution | 83 | 68 | |
| Stable leadership | 85 | 70 | |
| Clean books | 100 | 100 |
Closest peers
Others in Health Care Supplies, by management score. Align Technology is 40th of 60 in its sector.
- 278WSTWest Pharmaceutical Services63
- 321STESteris60
- 323MRKMerck & Co.60
- 325SOLVSolventum59
- 331ALGNAlign Technology59
- 333COOCooper Companies (The)59
Pay versus performance
From the proxy statement filed April 7, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Joseph Hogan | $19.2m | $3.9m | $4.3m | $29 | $117 | $410.0m |
| 2024 | Joseph Hogan | $27.3m | $5.2m | $4.8m | $39 | $110 | $421.0m |
| 2023 | Joseph Hogan | $29.0m | $29.5m | $4.4m | $51 | $100 | $445.0m |
| 2022 | Joseph Hogan | $18.7m | −$61.3m | $3.4m | $39 | $93 | $362.0m |
| 2021 | Joseph Hogan | $21.6m | $76.2m | $4.3m | $123 | $119 | $772.0m |
The board says pay is tied most to Net Revenues. Its other key measures: Operating Income, Stock Price.
Insiders and the CEO's stake
No open-market insider buying or selling in the last six months.
Leadership and governance on file
- Aug 31, 2026Leadership change8-K 5.02
- Jul 9, 2026Leadership change8-K 5.02
- Jun 22, 2026Leadership change8-K 5.02
- Sep 18, 2025Leadership change8-K 5.02
- Jul 2, 2025Leadership change8-K 5.02
- May 21, 2025Leadership change8-K 5.02
- May 22, 2024Leadership change8-K 5.02
- Dec 5, 2023Leadership change8-K 5.02
- May 18, 2023Leadership change8-K 5.02
Latest shareholder vote results: May 20, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $2.2bn returned to owners in buybacks and dividends, 92% of net income, and $761.3m of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $4.0bn | $3.7bn | $3.9bn | $4.0bn | $4.0bn |
| Net income | $772.0m | $362.0m | $445.0m | $421.0m | $410.0m |
| Stock-based pay | $114.3m | $133.4m | $154.0m | $173.7m | $185.9m |
| Buybacks | $375.0m | $435.0m | $592.4m | $352.9m | $465.9m |
| Dividends | — | — | — | — | — |
| Diluted shares | 80m | 78m | 77m | 75m | 73m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.