Companies Bright Horizons Family Solutions Inc
Bright Horizons Family Solutions (BFAM): executive pay, fiscal 2025
Free brief. Every figure links to the company’s own filing.
Velarion Intel: free for 3 days, no card →Email me Bright Horizons Family Solutions Inc’s executive pay brief as a PDF
You get it on this page the moment you ask, and a copy by email. Every figure is cited to its filing.
After the PDF, up to three short notes on the deeper reports for this company. Reply “unsubscribe” to any of them, any time.
CEO pay, last three years
- $4,927,814FY2023
- $5,154,263FY2024
- $5,303,738FY2025
CEO total pay was $5,303,738 in fiscal 2025, up from $5,154,263 in fiscal 2024.
FY2025: salary $699,660 · bonus $507,254 · stock awards $2,625,034 · option awards $875,133
Executives and directors
Frequently asked questions
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Stephen Kramer | $699,660 | $507,254 | $2,625,034 | $875,133 | $588,414 | $0 | $8,243 | $5,303,738 |
| Chief Executive Officer and President | ||||||||
| Mary Lou Burke Afonso | 430,560 | 215,280 | 825,011 | 275,028 | 249,725 | 0 | 9,500 | 2,005,104 |
| Chief Operating Officer, North America Center Operations | ||||||||
| Mandy Berman | 430,560 | 215,280 | 825,011 | 275,028 | 249,725 | 0 | 8,109 | 2,003,713 |
| Chief Operating Officer, Back-up Care and Educational Advisory Services | ||||||||
| Elizabeth Boland | 430,560 | 215,280 | 825,011 | 275,028 | 249,725 | 0 | 6,777 | 2,002,381 |
| Chief Financial Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Stephen Kramer | $5,303,738 | $5,154,263 | $4,927,814 | ↑ +149,475 |
| Mary Lou Burke Afonso | 2,005,104 | 1,935,981 | 1,833,425 | ↑ +69,123 |
| Mandy Berman | 2,003,713 | 1,937,424 | 1,730,730 | ↑ +66,289 |
| Elizabeth Boland | 2,002,381 | 1,932,433 | 1,832,613 | ↑ +69,948 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
The compensation philosophy centers on pay-for-performance, equity ownership, and individual performance. It places a greater emphasis on long-term equity incentive grants to align executive interests with shareholders and incentivize long-term value creation.
| CEO STI target (% of salary) | NaN% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Meridian Compensation Partners, LLC |
| Clawback policy | Mandatory recovery of erroneously awarded incentive-based compensation in the event of an accounting restatement, adhering to NYSE and SEC rules. |
| Anti-hedging | Hedging transactions are strictly prohibited under the Amended and Restated Insider Trading Policy. |
| Anti-pledging | Pledging Company securities as collateral for a loan is strictly prohibited under the Amended and Restated Insider Trading Policy. |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Mary Lou Burke Afonso | PSU | 2025-03-05 | 1,056 | 2,112 | — | 4,224 | $275,004 |
| Mary Lou Burke Afonso | RSU | 2025-03-05 | — | — | 4,224 | — | 550,007 |
| Elizabeth Boland | RSU | 2025-03-05 | — | — | 4,224 | — | 550,007 |
| Elizabeth Boland | PSU | 2025-03-05 | 1,056 | 2,112 | — | 4,224 | 275,004 |
| Stephen Kramer | RSU | 2025-03-05 | — | — | 13,440 | — | 1,750,022 |
| Mandy Berman | RSU | 2025-03-05 | — | — | 4,224 | — | 550,007 |
| Mandy Berman | PSU | 2025-03-05 | 1,056 | 2,112 | — | 4,224 | 275,004 |
| Mandy Berman | PSU | 2025-03-05 | 720 | 1,440 | — | 2,880 | 187,502 |
| Mandy Berman | RSU | 2025-03-05 | — | — | 2,880 | — | 375,005 |
| Stephen Kramer | PSU | 2025-03-05 | 3,360 | 6,720 | — | 13,440 | 875,011 |
| Stephen Kramer | OPTION | 2025-03-05 | — | — | 14,863 | — | 875,133 |
| Elizabeth Boland | OPTION | 2025-03-05 | — | — | 4,671 | — | 275,028 |
| Mandy Berman | OPTION | 2025-03-05 | — | — | 4,671 | — | 275,028 |
| Mary Lou Burke Afonso | OPTION | 2025-03-05 | — | — | 4,671 | — | 275,028 |
| Mandy Berman | OPTION | 2025-03-05 | — | — | 3,185 | — | 187,533 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Mary Lou Burke Afonso | $550,007 | $275,004 | $275,028 | 25.0% |
| Elizabeth Boland | 550,007 | 275,004 | 275,028 | 25.0% |
| Stephen Kramer | 1,750,022 | 875,011 | 875,133 | 25.0% |
| Mandy Berman | 925,012 | 462,506 | 462,561 | 25.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Elizabeth Boland | Option | 678 | 159.66 | — |
| Elizabeth Boland | PSU | 2,112 | — | 214,157 |
| Mandy Berman | PSU | 2,112 | — | 214,157 |
| Elizabeth Boland | PSU | 2,378 | — | 241,129 |
| Mandy Berman | PSU | 2,378 | — | 241,129 |
| Elizabeth Boland | Option | 2,798 | 77.99 | — |
| Mandy Berman | Option | 2,798 | 77.99 | — |
| Mary Lou Burke Afonso | Option | 2,828 | 159.66 | — |
| Elizabeth Boland | PSU | 3,526 | — | 357,536 |
| Mandy Berman | PSU | 3,526 | — | 357,536 |
| Elizabeth Boland | Option | 3,589 | 115.65 | — |
| Mandy Berman | Option | 3,589 | 115.65 | — |
| Elizabeth Boland | Option | 4,176 | 128.81 | — |
| Elizabeth Boland | RSU | 4,224 | — | 428,314 |
| Mandy Berman | RSU | 4,224 | — | 428,314 |
| Elizabeth Boland | Option | 4,671 | 130.21 | — |
| Mandy Berman | Option | 4,671 | 130.21 | — |
| Elizabeth Boland | RSU | 4,756 | — | 482,258 |
| Mandy Berman | RSU | 4,756 | — | 482,258 |
| Mary Lou Burke Afonso | Option | 6,240 | 128.81 | — |
| Stephen Kramer | PSU | 6,720 | — | 681,408 |
| Elizabeth Boland | RSU | 7,052 | — | 715,073 |
| Mandy Berman | RSU | 7,052 | — | 715,073 |
| Stephen Kramer | PSU | 7,566 | — | 767,192 |
| Stephen Kramer | Option | 8,900 | 77.99 | — |
| Stephen Kramer | Option | 9,500 | 128.81 | — |
| Stephen Kramer | PSU | 11,219 | — | 1,137,607 |
| Stephen Kramer | Option | 11,419 | 115.65 | — |
| Stephen Kramer | RSU | 13,440 | — | 1,362,816 |
| Stephen Kramer | Option | 14,863 | 130.21 | — |
| Stephen Kramer | RSU | 15,132 | — | 1,534,385 |
| Stephen Kramer | RSU | 22,439 | — | 2,275,315 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| David H. LissyIndependent · Board Chair | $175,000 | $125,000 | — | — | — | $300,000 |
| Lawrence M. AllevaIndependent · Audit | 105,000 | 125,000 | — | — | — | 230,000 |
| Laurel J. RichieIndependent · Nominating and Corporate Governance | 102,500 | 125,000 | — | — | — | 227,500 |
| Jordan HitchIndependent · Compensation | 100,000 | 125,000 | — | — | — | 225,000 |
| Julie AtkinsonIndependent | 85,000 | 125,000 | — | — | — | 210,000 |
| Joshua BekensteinIndependent · Compensation | 85,000 | 125,000 | — | — | — | 210,000 |
| Mary Ann TocioIndependent · Audit | 84,375 | 125,000 | — | — | — | 209,375 |
| Jennifer SchulzIndependent · Compensation | 82,500 | 125,000 | — | — | — | 207,500 |
| Cathy MinehanIndependent · Departed during FY | 43,750 | 0 | — | — | — | 43,750 |
| Stephen H. KramerEmployee director | — | — | — | — | — | 0 |
Board fee structure and ownership guideline
| Annual cash retainer | $75,000 |
|---|---|
| Annual equity retainer | $125,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 25,000 / 15,000 / 15,000 |
| Stock ownership guideline | $5 |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $863,125 |
| Equity awards (grant-date value) | $1,000,000 |
| All other compensation | $0 |
| Total cost of the board | $1,863,125 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Bright Horizons Family Solutions as a peer
Companies that benchmark against BFAM
5 companies name BFAM as a compensation peer
- Barnes & Noble Education, Inc.BNEDFY2024
- Covista Inc.CVSAFY2026
- Graham Holdings CoGHCFY2025
- KinderCare Learning Companies, Inc.KLCFY2025
- SERVICE CORP INTERNATIONALSCIFY2025
- Strategic Education, Inc.STRAFY2025
Each company listed discloses BFAM in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named BFAM in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Bright Horizons Family Solutions Inc | 2025 | Stephen Kramer | $699,660 | $2,625,034 | $875,133 | $588,414 | $5,303,738 |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-03 | 40,505,698 | 4,888,698 | 9,497 | 89.23% | Passed |
| 2025 | 2025-06-03 | 50,898,286 | 3,121,652 | 71,769 | 94.22% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.
Say-on-pay — history, company’s computation
| Meeting year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2026 | 2026-06-03 | 89.23%a |
| 2025 | 2025-06-03 | 94.22%b |
a. Approved under the standard stated in the filing — “Abstentions and broker non-votes are not considered votes cast for the foregoing purpose and will have no effect on the results of this vote.”.
b. Approved under the standard stated in the filing — “Abstentions and broker non-votes are not considered votes cast for the foregoing purpose and will have no effect on the results of this vote.”.
Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
CEO pay ratio
| Ratio (CEO : median employee) | 107 : 1 |
|---|---|
| CEO total compensation | — |
| Median employee compensation | — |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (36 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Stephen Kramer. DEF 14A, filed 2026-04-20. Section “Summary Compensation Table” · page 44. As printed: 5,303,738. View filing ↗
- Section 01, Mary Lou Burke Afonso. DEF 14A, filed 2026-04-20. Section “Summary Compensation Table”. As printed: 2,005,104. View filing ↗
- Section 01, Mandy Berman. DEF 14A, filed 2026-04-20. Section “Summary Compensation Table”. As printed: 2,003,713. View filing ↗
- Section 01, Elizabeth Boland. DEF 14A, filed 2026-04-20. Section “Summary Compensation Table”. As printed: 2,002,381. View filing ↗
- Section 03, Mary Lou Burke Afonso PSU. DEF 14A, filed 2026-04-20. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Mary Lou Burke Afonso RSU. DEF 14A, filed 2026-04-20. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Elizabeth Boland RSU. DEF 14A, filed 2026-04-20. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Elizabeth Boland PSU. DEF 14A, filed 2026-04-20. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Stephen Kramer RSU. DEF 14A, filed 2026-04-20. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Mandy Berman RSU. DEF 14A, filed 2026-04-20. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Mandy Berman PSU. DEF 14A, filed 2026-04-20. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Mandy Berman PSU. DEF 14A, filed 2026-04-20. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Mandy Berman RSU. DEF 14A, filed 2026-04-20. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Stephen Kramer PSU. DEF 14A, filed 2026-04-20. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Stephen Kramer OPTION. DEF 14A, filed 2026-04-20. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Elizabeth Boland OPTION. DEF 14A, filed 2026-04-20. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Mandy Berman OPTION. DEF 14A, filed 2026-04-20. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Mary Lou Burke Afonso OPTION. DEF 14A, filed 2026-04-20. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Mandy Berman OPTION. DEF 14A, filed 2026-04-20. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2023-04-27. Section “CEO Pay Ratio”. As printed: 107 : 1. View filing ↗
- Section 08, David H. Lissy. DEF 14A, filed 2026-04-20. Section “Director Compensation”. As printed: 300,000. View filing ↗
- Section 08, Lawrence M. Alleva. DEF 14A, filed 2026-04-20. Section “Director Compensation”. As printed: 230,000. View filing ↗
- Section 08, Laurel J. Richie. DEF 14A, filed 2026-04-20. Section “Director Compensation”. As printed: 227,500. View filing ↗
- Section 08, Jordan Hitch. DEF 14A, filed 2026-04-20. Section “Director Compensation”. As printed: 225,000. View filing ↗
- Section 08, Julie Atkinson. DEF 14A, filed 2026-04-20. Section “Director Compensation”. As printed: 210,000. View filing ↗
- Section 08, Joshua Bekenstein. DEF 14A, filed 2026-04-20. Section “Director Compensation”. As printed: 210,000. View filing ↗
- Section 08, Mary Ann Tocio. DEF 14A, filed 2026-04-20. Section “Director Compensation”. As printed: 209,375. View filing ↗
- Section 08, Jennifer Schulz. DEF 14A, filed 2026-04-20. Section “Director Compensation”. As printed: 207,500. View filing ↗
- Section 08, Cathy Minehan. DEF 14A, filed 2026-04-20. Section “Director Compensation”. As printed: 43,750. View filing ↗
- Section 08, Stephen H. Kramer. DEF 14A, filed 2026-04-20. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-06-03. Item 5.07 · say-on-pay result. As reported: 89.23% (votes for as printed: 40,505,698). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-06-03. Item 5.07 · say-on-pay result. As reported: 94.22% (votes for as printed: 50,898,286). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
- Section 09b board cost (computed). Computed. Cash 863,125 + equity 1,000,000 + all other 0 = 1,863,125, summed across the director compensation table rows.
- Bright Horizons Family Solutions Inc (subject), Section 10b CEO total. DEF 14A, filed 2026-04-20. CEO total compensation as printed in Bright Horizons Family Solutions Inc's own proxy. As printed: 5,303,738. View filing ↗