How Spray was paid
$5.9M 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 | Options | Incentive | Pension | Other | Total |
|---|---|---|---|---|---|---|---|
| Stephen M. SprayPresident and Chief Executive Officer | $1,130,250 | $1,768,274 | $1,703,668 | $681,450 | $619,823 | $40,027 | $5,943,492 |
| Michael J. SewellChief Financial Officer, Executive Vice President and Treasurer | $1,073,137 | $1,146,159 | $1,011,001 | $404,384 | — | $313,801 | $3,948,482 |
| Steven J. JohnstonExecutive Chairman of the Board and former Chief Executive Officer | $513,750 | $804,764 | $774,399 | $309,750 | — | $373,779 | $2,776,442 |
| John S. KellingtonChief Information Officer and Executive Vice President | $748,297 | $799,736 | $704,960 | $281,977 | — | $184,490 | $2,719,460 |
| Teresa C. CracasChief Risk Officer and Executive Vice President | $681,352 | $728,436 | $641,910 | $256,750 | — | $189,764 | $2,498,212 |
What changed and why
- $5.9MCEO total compensation decreased to $5,943,492 in 2025 due to lower annual incentive payouts.
- Named executive officers earned annual incentive compensation at the threshold level.
- 18.8%The company achieved a value creation ratio of 18.8% for the performance period.
- Performance-based restricted stock units vested at the maximum level.
- No discretionary cash bonuses were paid to named executive officers.
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.