How Sullivan was paid
$22.9M 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 | Other | Total |
|---|---|---|---|---|---|---|
| Adam SullivanPresident and Chief Executive Officer | $815,769 | — | $20,005,674 | $2,062,500 | $39,261 | $22,923,204 |
| James NygaardExecutive Vice President, Chief Financial Officer | $450,000 | — | $8,000,000 | $1,200,000 | $30,354 | $9,680,354 |
| Todd DuCheneExecutive Vice President, Chief Legal and Administrative Officer | $523,846 | — | $5,846,793 | $1,050,000 | — | $7,420,639 |
| Denise SterlingFormer Executive Vice President, Chief Financial Officer | $500,000 | $1,525,000 | $4,038,000 | — | $62,647 | $6,125,647 |
What changed and why
- $22.9MCEO total compensation decreased to $22,923,204 in 2025 from $41,938,321 in 2024.
- James Nygaard was appointed Executive Vice President and Chief Financial Officer effective March 17, 2025.
- Denise Sterling transitioned from CFO and later resigned as an officer during 2025.
- 38.3%The 2025 say-on-pay advisory vote received approximately 38.3 percent support from stockholders.
- A Total Shareholder Return measure was incorporated into the 2025 executive compensation design.
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.