How II was paid
$12M 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 | Pension | Other | Total |
|---|---|---|---|---|---|---|
| Pierce H. Norton IIPresident and Chief Executive Officer | $1,000,000 | $8,771,279 | $1,578,000 | — | $654,056 | $12,003,335 |
| Walter S. Hulse, IIIChief Financial Officer, Treasurer and Executive Vice President, Corporate Development and Investor Relations | $750,000 | $6,009,216 | $1,183,500 | — | $349,729 | $8,292,445 |
| Randy N LentzExecutive Vice President and Chief Operating Officer | $625,000 | $4,480,556 | $759,400 | — | $250,588 | $6,115,544 |
| Sheridan C. SwordsExecutive Vice President and Chief Commercial Officer | $625,000 | $3,430,537 | $723,300 | $974,441 | $112,644 | $5,865,922 |
| Lyndon C. TaylorExecutive Vice President, Chief Legal Officer and Assistant Secretary | $700,000 | $4,656,809 | $972,000 | — | $571,012 | $6,899,821 |
What changed and why
- $12MCEO Pierce H. Norton II total compensation decreased to $12,003,335 in 2025 from $13,237,333 in 2024.
- 93.3%Shareholders strongly supported the prior executive compensation program with 93.3% approval at the annual meeting.
- The executive compensation program maintains stable components with minimal changes due to high shareholder support.
- Most executive pay remains at-risk and tied directly to short-term and long-term incentive performance.
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.