How Shaffer was paid
$2.9M 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 | Bonus | Stock | Incentive | Pension | Total |
|---|---|---|---|---|---|---|
| Dennis G. ShafferPresident and CEO | $573,657 | $0 | $179,716 | $1,833,181 | $67,068 | $2,894,036 |
| Richard J. DuttonSr. Vice President | $315,775 | $0 | $30,958 | $1,010,763 | $61,776 | $1,562,561 |
| Lance A. MorrisonSr. Vice President, Corporate Secretary and General Counsel | $237,404 | $0 | $41,886 | $405,762 | $37,524 | $786,478 |
| Charles A. ParcherExec. Vice President | $375,500 | $0 | $83,642 | $972,562 | $64,456 | $1,676,422 |
| Ian WhinnemSr. Vice President, Treasurer and CFO | $265,846 | $57,511 | $78,525 | $45,507 | $18,621 | $486,617 |
What changed and why
- $2.9MCEO Dennis G. Shaffer received total compensation of $2,894,036 in fiscal 2025, representing an increase from the prior year.
- $1.8MNon-equity incentive plan compensation for the CEO was $1,833,181 for performance during 2025.
- $180KStock awards granted to the CEO amounted to $179,716 in the form of restricted common shares.
- The pay ratio of the CEO's annual total compensation to the median employee was 43.8 to 1.
- Retirement benefits and pension values were impacted by an amendment and restatement of the SERP effective January 1, 2024.
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.