How Rutten was paid
$12.1M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.
Named executive officers
| Executive | Salary | Stock | Incentive | Other | Total |
|---|---|---|---|---|---|
| Giel RuttenFormer President and Chief Executive Officer | $1,000,000 | $9,017,674 | $1,498,500 | $587,955 | $12,104,129 |
| Kevin K. EngelPresident and Chief Executive Officer | $560,000 | $2,455,250 | $528,360 | $26,806 | $3,570,416 |
| Megan FaustExecutive Vice President and Chief Financial Officer | $630,000 | $3,434,722 | $594,405 | $21,083 | $4,680,210 |
| Farshad HaghighiExecutive Vice President, Chief Sales Officer | $560,000 | $1,469,165 | $528,360 | $39,768 | $2,597,293 |
| Mark N. RogersExecutive Vice President, General Counsel, and Corporate Secretary | $560,000 | $1,175,305 | $528,360 | $24,642 | $2,288,307 |
What changed and why
- Giel Rutten retired as CEO effective December 31, 2025, and Kevin K. Engel was appointed President and CEO effective January 1, 2026.
- $12.1MTotal compensation for former CEO Giel Rutten was $12,104,129 in 2025, down from $16,639,730 in 2024.
- 111%Named executive officers earned bonuses under the Executive Bonus Plan at 111% of target for 2025 performance.
- Long-term incentives granted in 2025 included a mix of RSUs and PSUs tied to EPS and relative TSR performance goals.
- $18,442The CEO to median employee pay ratio for 2025 was 656 to 1 based on median employee total compensation of $18,442.
About this page
Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.