How Flees was paid
$4.8M in total for fiscal 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 | Options | Incentive | Pension | Other | Total |
|---|---|---|---|---|---|---|---|
| Lori A. FleesPresident and Chief Executive Officer | $923,178 | $2,198,255 | $750,066 | $823,391 | — | $149,773 | $4,844,663 |
| J. Kevin WillisChief Financial Officer | $240,411 | $1,199,644 | $400,070 | $154,795 | $16,760 | $17,000 | $2,028,679 |
| Mary E. MeixelspergerSenior Vice President, Former Chief Financial Officer | $482,208 | $641,157 | $218,879 | $310,482 | — | $104,710 | $1,757,435 |
| Linne R. FulcherSenior Vice President and Chief Operating Officer | $511,589 | $366,769 | $125,120 | $263,520 | — | $72,498 | $1,339,497 |
| Julie M. O’DanielSenior Vice President, Chief Legal Officer and Corporate Secretary | $469,862 | $311,730 | $106,402 | $242,026 | $1,614 | $77,488 | $1,209,122 |
| Jonathan L. CaldwellSenior Vice President and Chief People Officer | $386,316 | $238,610 | $81,279 | $191,695 | — | $63,641 | $961,541 |
What changed and why
- $4.8MLori A. Flees received total compensation of $4,844,663 in fiscal 2025, an increase from $4,275,549 in fiscal 2024.
- 50%The annual incentive plan for fiscal 2025 was based 50% on Net Sales and 50% on adjusted EBIT.
- Valvoline added 170 stores system-wide during fiscal 2025, bringing the total system-wide store count to 2,180.
- 92%Approximately 92% of votes cast supported the say-on-pay proposal at the 2025 Annual Meeting of Shareholders.
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.