How Lorenger was paid
$8.2M 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 | Pension | Other | Total |
|---|---|---|---|---|---|---|---|
| Jeffrey D. LorengerChairman, President and Chief Executive Officer | $1,056,740 | $101,717 | $5,092,316 | $1,787,404 | $24,322 | $156,447 | $8,218,947 |
| Vincent P. Berger IIChief Financial Officer; Executive Vice President | $578,870 | $58,216 | $862,545 | $627,559 | — | $155,808 | $2,282,999 |
| Steven M. BradfordSenior Vice President, General Counsel and Secretary | $512,881 | $55,465 | $386,129 | $537,556 | — | $78,743 | $1,570,774 |
| B. Brandon Bullock IIIChief Operating Officer | $503,871 | $26,194 | $592,465 | $451,648 | — | $75,870 | $1,650,048 |
| Jason D. HagedornPresident, Workplace Furnishings | $470,315 | $24,686 | $552,986 | $322,381 | — | $67,696 | $1,438,065 |
What changed and why
- $8.2MCEO total compensation increased to $8,218,947 in fiscal year 2025 from $7,102,944 in fiscal year 2023.
- 97%Approximately 97% of the advisory votes of shareholders approved executive compensation for the prior year.
- The Annual Incentive Plan incorporated annual Adjusted EBIT goals and personal strategic objectives for 2025.
- The long-term incentive plan utilized three-year Adjusted EBITDA goals for 2025 awards.
- Newly acquired employees from the Steelcase acquisition were omitted from the pay ratio calculation.
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.