How Kasel 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 | Stock | Incentive | Other | Total |
|---|---|---|---|---|---|
| John F. KaselPresident and CEO | $790,417 | $1,319,357 | $654,400 | $156,338 | $2,920,512 |
| William M. ThalmanEVP and Chief Financial Officer | $436,615 | $376,954 | $234,707 | $95,982 | $1,144,258 |
| Brian H. KellyFormer EVP and Senior Advisor to the CEO | $390,646 | $320,407 | $176,609 | $584,626 | $1,472,288 |
| Patrick J. GuineeEVP, General Counsel and Corporate Secretary | $408,958 | $343,981 | $202,012 | $82,395 | $1,037,346 |
| Gregory W. LippardSVP, Rail | $363,421 | $278,016 | $68,958 | $74,753 | $785,148 |
What changed and why
- $2.9MCEO total compensation decreased to $2,920,512 in 2025 from $3,075,320 in 2024.
- $743KJohn F. Kasel received a base salary increase from $742,500 to $800,000 on March 1, 2025.
- 98%Over 98% of votes cast favored the say-on-pay proposal at the 2025 annual meeting.
- Brian H. Kelly retired as EVP and Senior Advisor to the CEO effective December 31, 2025.
- The board made no significant changes to existing executive incentive programs following strong shareholder support.
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.