How Barnes was paid
$6.9M 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 | Incentive | Other | Total |
|---|---|---|---|---|
| Michael G. BarnesChairman and Chief Executive Officer | $1,200,000 | $5,651,620 | $45,846 | $6,897,466 |
| Jonathan IlanyFormer Chief Executive Officer | $1,200,000 | $5,651,620 | $137,811 | $6,989,431 |
| Randy MaultsbyPresident | $600,000 | $1,750,000 | $11,583 | $2,361,583 |
| Scott McKinneyChief Financial Officer | $500,000 | $1,250,000 | $11,583 | $1,761,583 |
| Neil C. RifkindFormer VP, General Counsel and Secretary | $467,949 | — | $1,714,091 | $2,182,040 |
What changed and why
- $25MTotal compensation of our named executive officers related to fiscal 2025 was approximately $25 million, flat to fiscal 2024.
- 24%For 2025, only 24% of compensation was fixed, while 76% was variable performance-based pay.
- 2025 was a transformative year featuring agreements to sell Fortegra and Reliance First Capital.
- $923MPro-forma book value will reach approximately $923 million or $24.40 per share when sales settle.
- Management executed a meaningful corporate expense reduction during the second half of 2025.
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.