Northern Trust (NTRS) executive compensation, 2026 proxy

MICHAEL G. O’GRADY, Chairman and Chief Executive Officer, was paid $10.1M in 2025, down 8% from $10.9M the year before. The CEO-to-median-employee pay ratio was 136:1, on median employee pay of $73,867.

Filed
March 11, 2026
Annual meeting
April 21, 2026
Pay year
2025
Named executives
5
CEO total pay
$10.1M-8% vs prior year
CEO to median employee
136:1median $73,867
CEO pay in equity
61%$6.2M in awards
CEO Total Compensation
$10,059,154For fiscal year 2025
CEO Base Salary
$1,000,000Unchanged from prior year
Diluted EPS Growth
17%Compared to 2024
Return on Equity
14.8%Adjusted non-GAAP metric
CEO to Median Employee Pay Ratio
136:1Based on median employee pay of $73,867

How O’GRADY was paid

$10.1M 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.

Salary10%Stock awards61%Non-equity incentive27%Pension and deferred comp1%All other compensation0%

Named executive officers

ExecutiveTotal
MICHAEL G. O’GRADYChairman and Chief Executive Officer$10,059,154
DAVID W. FOX, JR.Chief Financial Officer$3,451,073
PETER B. CHERECWICHChief Operating Officer$4,782,539
JASON J. TYLERPresident, Wealth Management$4,525,504
THOMAS A. SOUTHChief Information Officer$4,624,352

What changed and why

  • $10.1MCEO total compensation decreased to $10,059,154 in 2025 from $10,929,786 in 2024.
  • $8.1BRevenue growth reached $8.1 billion, representing a 7% increase.
  • 1.1%Return on equity improved by 1.1 percentage points to 14.8%.
  • 17%Diluted earnings per share grew by 17% to $9.00.

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.