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wbjournal.com | Book of Lists 2026 | Worcester Business Journal 69 Highest-paid CEOs (1) Ranked by total compensation for fiscal year 2025 CEO Total compensation CEO pay ratio/ median employee compensation (2) Salary/ bonus Non-equity incentive plan compensation Option awards/ stock awards Other annual compensation 1 Ernie Herrman president & CEO The TJX Cos. Inc., Framingham $26,603,537 (3) 1,774:1 $14,994 $1,700,000 N/A $8,386,100 N/A $14,300,173 $659,440 2 Michael F. Mahoney chairman, president & CEO Boston Scientific Corp. $23,532,050 (4) 348:1 $67,539 $1,442,603 N/A $4,002,001 $3,749,980 $13,608,056 $287,799 3 Ashley McEvoy president & CEO Insulet Corp., Acton $18,858,968 213:1 $94,703 $729,808 N/A $2,031,562 $2,999,913 $12,958,850 $138,836 4 Bob Eddy president & CEO BJ's Wholesale Club, Marlborough $16,678,036 622:1 $26,797 $1,432,701 N/A $2,334,500 N/A $12,499,863 $410,972 5 Udit Batra president, CEO & director Waters Corp., Milford $13,973,044 153:1 $92,793 $1,150,000 N/A $2,371,875 $2,999,922 $7,430,247 $21,000 6 John C. Roche president & CEO The Hanover Insurance Group Inc., Worcester $10,486,571 85:1 $124,142 $1,138,462 N/A $3,220,000 $1,400,023 $4,603,557 $124,529 7 Mark Gitin CEO IPG Photonics Corp., Oxford $9,071,490 162:1 $56,164 $879,423 N/A $1,159,600 N/A $6,999,990 $32,477 8 Kevin Coop CEO Definitive Healthcare, Framingham $8,604,138 N/A $500,000 N/A $384,875 N/A $7,696,741 $22,522 9 Matthew Moschner president & CEO Cognex Corp., Natick $8,099,369 105:1 $81,596 $528,846 N/A $1,059,436 $4,829,911 $1,670,040 $11,136 10 Daniel P. McGahn chairman, president & CEO AMSC, Ayer $6,015,053 (5) 64:1 $93,320 (5) $622,500 N/A $1,093,925 N/A $4,248,000 $20,628 11 George Sakellaris founder, chairman, president & CEO Ameresco Inc., Framingham $3,339,804 30:1 $111,589 $1,500,000 $250,000 N/A $1,385,999 $155,100 $48,705 12 Shantanu K. Gaur CEO Allurion Technologies (6), Natick $2,829,734 (7) N/A $620,000 N/A N/A $2,200,000 N/A $9,734 13 Donald R. Young president, CEO & director Aspen Aerogels Inc., Northborough $2,685,085 110:1 $24,365 $577,115 N/A N/A $424,998 $1,670,722 $12,250 14 Michael Murray CEO Kopin Corp., Westborough $2,257,423 N/A $506,191 $100,000 $463,374 $575,990 $600,692 $11,176 15 John Duke (8) president & CEO Harvard Bioscience Inc., Holliston $905,208 N/A $203,077 $100,000 N/A N/A $598,900 $3,231 16 Brian Haugli CEO SideChannel Inc., Worcester $481,279 N/A $327,000 N/A N/A N/A $113,892 $40,387 17 Neil Dey president & CEO Bluejay Diagnostics Inc., Acton $473,555 N/A $328,193 N/A $137,500 N/A N/A $7,862 18 Alexander Shen CEO & director Techprecision Corp., Westminster $337,767 N/A $334,423 $500 N/A N/A N/A $2,844 Source: Proxy statements filed with the U.S. Securities & Exchange Commission. Note: N/A=not available or not applicable. (1) For public companies headquartered in Central Mass. (2) See company filings for details on how pay ratio and median compensation were calculated. (3) Includes change in pension value and non-qualified deferred compensation of $1,557,824. (4) Includes change in pension value and non-qualified deferred compensation of $441,611 (5) For fiscal year ended March 31, 2025 (6) In February 2026, NYSE sent a delisting notice because Allurion failed to either hold at least $50 million in stockholders' equity or at least $50 million in total market capitalization over a 30-trading day trading period. (7) 2024 compensation (8) On July 28, 2025, succeeded James Green, upon his retirement -Compiled by Stephanie R. Meagher, research@nebusinessmedia.com G E N E R A L I N T E R E S T F O C U S #1 In 2025, TJX received a $470-million settlement payment stemming from a two- decade long dispute with Visa and Mastercard over allegations of price fixing and other anti-competitive practices. Pictured is President & CEO Ernie Herrman. #4 BJ's Wholesale Club expected to have a total of $800 million in capital expenditures in fiscal 2026, driven by its investment in opening new locations. Pictured is President & CEO Bob Eddy. #5 Udit Batra appeared on CNBC's "Mad Money with Jim Cramer" on May 5 after Waters had the highest stock growth in the S&P 500 that day. #10 Daniel McGahn has led AMSC since 2011, after joining the company in 2006 as vice president for strategic planning and corporate development. #11 Ameresco an- nounced plans in May to spin off its biofuels business into a joint venture with Mary- land-based sustainable infrastructure investor HA Sustainable Infra- structure Capital.