How Palmby was paid
$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.
Named executive officers
| Executive | Salary | Stock | Incentive | Pension | Other | Total |
|---|---|---|---|---|---|---|
| Paul L. PalmbyPresident and Chief Executive Officer | $777,375 | — | $155,475 | $67,571 | $12,002 | $1,012,423 |
| Michael S. WolcottSenior Vice President, Chief Financial Officer and Treasurer | $326,400 | $25,000 | $65,280 | $6,089 | $4,777 | $427,546 |
| Timothy R. NelsonSenior Vice President of Operations, President of Fruit and Snack | $338,025 | $25,000 | $67,605 | $83,569 | $545 | $514,744 |
| Dean E. ErstadSenior Vice President of Sales and Marketing | $333,478 | $25,000 | $66,696 | $83,474 | $5,459 | $514,107 |
What changed and why
- $777K$777,375 CEO salary in 2025 increased from $750,818 in 2024.
- 20%$155,475 CEO incentive compensation reflected a 20% bonus payment under the profit-sharing plan.
- 125%125% or more of the bonus target was exceeded, triggering the 20% bonus payment.
- $25,000$25,000 restricted-stock awards were granted to Wolcott, Nelson, and Erstad.
- $1.1M$1,063,013 was Palmby’s present value of accumulated pension benefits at fiscal year-end.
Other Seneca Foods proxy statements
- 2026 proxy statement
Paul L. Palmby paid $1.3M (+29% on the year), pay ratio 16:1.
Filed Jul 07, 2026
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.