How Cutillo was paid
$8.4M 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 | Other | Total |
|---|---|---|---|---|---|---|
| Joseph A. CutilloChief Executive Officer | $1,100,000 | — | $4,675,000 | $2,530,000 | $109,685 | $8,414,685 |
| Ronald A. BallschmiedeFormer Executive Vice President | $482,116 | — | $282,000 | $705,094 | $23,070 | $1,492,280 |
| Daniel P. GovinChief Operating Officer | $700,000 | — | $1,190,000 | $1,540,000 | $35,500 | $3,465,500 |
| Nicholas M. GrindstaffChief Financial Officer | $287,671 | — | $330,822 | $431,507 | $5,769 | $1,055,769 |
| Sharon VillaverdeFormer Chief Financial Officer & Chief Accounting Officer | $118,654 | $97,500 | $603,750 | $157,500 | $590,706 | $1,568,110 |
| Mark D. WolfGeneral Counsel, Chief Compliance Officer & Corporate Secretary | $405,300 | — | $344,505 | $607,950 | $25,075 | $1,382,830 |
What changed and why
- $2.49BRevenues increased 32% in 2025 to a record $2.49 billion from $1.88 billion in 2024.
- $290.2MNet income increased to a record $290.2 million in 2025 from $257.5 million in 2024.
- $8.4MTotal compensation for CEO Joseph A. Cutillo was $8,414,685 in 2025 compared to $16,871,121 in 2024.
- 60%Performance-based equity accounts for 60% of annual long-term incentive value.
- 95%Greater than 95% of total votes cast supported the 2025 say-on-pay advisory vote.
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.