How Carstanjen was paid
$19.2M 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 | Bonus | Stock | Incentive | Other | Total |
|---|---|---|---|---|---|---|
| William C. CarstanjenChief Executive Officer | $1,800,000 | — | $11,443,380 | $5,763,331 | $166,128 | $19,172,839 |
| William E. MuddPresident and Chief Operating Officer | $1,265,949 | — | $3,814,744 | $2,038,106 | $90,687 | $7,209,486 |
| Marcia A. DallExecutive Vice President and Chief Financial Officer | $944,091 | — | $2,193,483 | $1,338,374 | $76,354 | $4,552,302 |
| Bradley K. BlackwellExecutive Vice President and General Counsel | $770,192 | — | $1,621,373 | $992,574 | $22,225 | $3,406,364 |
| Maureen AdamsFormer Executive Vice President, Gaming Operations | $659,349 | $550,000 | — | $615,101 | $32,932 | $1,857,382 |
What changed and why
- $19.2MChief Executive Officer total compensation increased to $19,172,839 in 2025 from $15,103,663 in 2024.
- $2.9BThe company achieved record net revenue of $2.9 billion and record Adjusted EBITDA of $1.2 billion in 2025.
- 97%Shareholders approved the previous say-on-pay proposal with approximately 97% support at the 2025 annual meeting.
- $550KMaureen Adams received a retention award of $550,000 contingent on remaining employed through December 31, 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.