How Miller was paid
$2.1M in total for 2026, 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 | Bonus | Stock | Pension | Other | Total |
|---|---|---|---|---|---|---|
| Adolphus B. BakerBoard Chair | $490,070 | $163,932 | $292,454 | — | $98,338 | $1,044,794 |
| Sherman L. MillerPresident/CEO | $627,538 | $800,000 | $502,523 | $36,135 | $143,025 | $2,109,221 |
| Max P. BowmanVP/CFO/Treasurer/Secretary | $402,885 | $399,672 | $319,589 | $12,863 | $110,828 | $1,245,837 |
| Robert L. Holladay, Jr.VP/General Counsel | $361,538 | $357,500 | $286,675 | $33,743 | $103,979 | $1,143,435 |
| Michael T. WaltersVP/COO | $409,615 | $401,370 | $328,521 | — | $81,512 | $1,221,018 |
What changed and why
- $2.1M$2,109,221 CEO total compensation increased from $1,692,760 in 2025.
- $800K$800,000 CEO bonus was the largest cash incentive award among named executives.
- $503K$502,523 CEO stock awards included RSAs and performance-based PSUs.
- 0%0%-150% PSU payouts depend on relative TSR and cumulative adjusted EBITDA performance.
- $47,89950:1 was the CEO-to-median employee compensation ratio, with median pay of $47,899.
- $500K$500,000 is the SERP retirement benefit, payable in ten annual installments when vested.
Other Cal-Maine Foods proxy statements
- 2025 proxy statement
Sherman L. Miller paid $1.7M (+53% on the year), pay ratio 37:1.
Filed Aug 19, 2025
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.