Companies Forrester Research
Forrester Research (FORR): executive pay, fiscal 2025
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CEO pay, last three years
- $244,921FY2023
- $215,293FY2024
- $673,332FY2025
CEO total pay was $673,332 in fiscal 2025, up from $215,293 in fiscal 2024.
FY2025: salary $472,500 · bonus $162,500 · stock awards $0 · option awards $0
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 |
|---|---|---|---|---|---|---|---|---|
| Carrie Johnson | $440,447 | $83,672 | $467,991 | $225,564 | $6,694 | $0 | $14,370 | $1,238,739 |
| Chief Product Officer | ||||||||
| L. Christian Finn | 435,240 | 82,683 | 467,991 | 225,564 | 6,615 | 0 | 14,576 | 1,232,668 |
| Chief Financial Officer | ||||||||
| Nate Swan | 409,242 | 0 | 467,991 | 225,564 | 0 | 0 | 16,276 | 1,119,073 |
| Chief Sales Officer | ||||||||
| Sharyn Leaver | 386,504 | 58,500 | 351,000 | 112,782 | 4,680 | 0 | 8,632 | 922,098 |
| Chief Research Officer | ||||||||
| Ryan Darrah | 360,177 | 45,500 | 304,191 | 78,947 | 3,640 | 0 | 13,956 | 806,411 |
| Chief Legal Officer and Secretary | ||||||||
| George Colony | 472,500 | 162,500 | 0 | 0 | 13,000 | 0 | 25,332 | 673,332 |
| Chairman of the Board and Chief Executive 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 |
|---|---|---|---|---|
| Carrie Johnson | $1,238,739 | $1,030,264 | $1,748,412 | ↑ +208,475 |
| L. Christian Finn | 1,232,668 | 1,023,864 | 1,743,954 | ↑ +208,804 |
| Nate Swan | 1,119,073 | 1,028,719 | 1,845,290 | ↑ +90,354 |
| Sharyn Leaver | 922,098 | 800,368 | 1,282,982 | ↑ +121,730 |
| Ryan Darrah | 806,411 | — | — | — |
| George Colony | 673,332 | 215,293 | 244,921 | ↑ +458,039 |
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 executive compensation program is designed to attract, retain, and motivate key individuals by making a substantial portion of pay variable and linked to short-term financial performance and long-term stockholder value. The program emphasizes alignment with company goals through cash incentives based on specific financial metrics and equity awards that vest over time or are subject to performance conditions.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | true |
| Anti-hedging | false |
| Anti-pledging | false |
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 |
|---|---|---|---|---|---|---|---|
| Ryan Darrah | RSU | 2025-04-01 | — | — | 21,666 | — | $202,794 |
| L. Christian Finn | RSU | 2025-04-01 | — | — | 33,333 | — | 311,997 |
| Carrie Johnson | PSU | 2025-04-01 | 3,750 | 16,666 | — | 24,999 | 155,994 |
| Sharyn Leaver | PSU | 2025-04-01 | 2,813 | 12,500 | — | 18,750 | 117,000 |
| Nate Swan | RSU | 2025-04-01 | — | — | 33,333 | — | 311,997 |
| Sharyn Leaver | RSU | 2025-04-01 | — | — | 25,000 | — | 234,000 |
| Ryan Darrah | PSU | 2025-04-01 | 2,437 | 10,833 | — | 16,250 | 101,397 |
| Nate Swan | PSU | 2025-04-01 | 3,750 | 16,666 | — | 24,999 | 155,994 |
| L. Christian Finn | PSU | 2025-04-01 | 3,750 | 16,666 | — | 24,999 | 155,994 |
| Carrie Johnson | RSU | 2025-04-01 | — | — | 33,333 | — | 311,997 |
| Carrie Johnson | OPTION | 2025-04-01 | — | — | 66,666 | — | 225,564 |
| Ryan Darrah | OPTION | 2025-04-01 | — | — | 23,333 | — | 78,947 |
| L. Christian Finn | OPTION | 2025-04-01 | — | — | 66,666 | — | 225,564 |
| Nate Swan | OPTION | 2025-04-01 | — | — | 66,666 | — | 225,564 |
| Sharyn Leaver | OPTION | 2025-04-01 | — | — | 33,333 | — | 112,782 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Ryan Darrah | $202,794 | $101,397 | $78,947 | 26.5% |
| L. Christian Finn | 311,997 | 155,994 | 225,564 | 22.5% |
| Carrie Johnson | 311,997 | 155,994 | 225,564 | 22.5% |
| Sharyn Leaver | 234,000 | 117,000 | 112,782 | 25.2% |
| Nate Swan | 311,997 | 155,994 | 225,564 | 22.5% |
% 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 |
|---|---|---|---|---|
| Ryan Darrah | PSU | 1,365 | — | $11,084 |
| Sharyn Leaver | PSU | 1,614 | — | 13,106 |
| Carrie Johnson | PSU | 2,235 | — | 18,148 |
| L. Christian Finn | PSU | 2,483 | — | 20,162 |
| Ryan Darrah | PSU | 4,162 | — | 33,795 |
| Sharyn Leaver | PSU | 4,918 | — | 39,934 |
| L. Christian Finn | PSU | 7,567 | — | 61,444 |
| Carrie Johnson | PSU | 7,567 | — | 61,444 |
| Ryan Darrah | PSU | 10,833 | — | 19,792 |
| Sharyn Leaver | Option | 11,349 | 33.04 | — |
| Ryan Darrah | PSU | 11,701 | — | 95,012 |
| Sharyn Leaver | PSU | 12,500 | — | 22,838 |
| Sharyn Leaver | PSU | 12,601 | — | 102,320 |
| L. Christian Finn | Option | 15,132 | 33.04 | — |
| Carrie Johnson | Option | 15,132 | 33.04 | — |
| L. Christian Finn | PSU | 16,666 | — | 30,449 |
| Carrie Johnson | PSU | 16,666 | — | 30,449 |
| L. Christian Finn | PSU | 18,002 | — | 146,176 |
| Carrie Johnson | PSU | 18,002 | — | 146,176 |
| Ryan Darrah | PSU | 21,666 | — | 175,928 |
| Ryan Darrah | Option | 23,333 | 9.36 | — |
| Sharyn Leaver | PSU | 25,000 | — | 203,000 |
| L. Christian Finn | PSU | 33,333 | — | 270,664 |
| Carrie Johnson | PSU | 33,333 | — | 270,664 |
| Sharyn Leaver | Option | 33,333 | 9.36 | — |
| L. Christian Finn | Option | 66,666 | 9.36 | — |
| Carrie Johnson | Option | 66,666 | 9.36 | — |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Anthony FrisciaIndependent · Lead Independent Director · Compensation and Nominating (Chair) | $46,250 | $82,080 | — | — | — | $128,330 |
| Warren RomineIndependent · Audit (Chair) | 43,000 | 82,080 | — | — | — | 125,080 |
| Corinne MunchbachIndependent · Audit · Compensation and Nominating | 38,750 | 82,080 | — | — | — | 120,830 |
| Neil BradfordIndependent · Audit | 35,000 | 82,080 | — | — | — | 117,080 |
| Robert BennettIndependent · Compensation and Nominating | 35,000 | 82,080 | — | — | — | 117,080 |
| Robert M. GalfordIndependent · Departed during FY | 12,500 | 0 | — | — | — | 12,500 |
| David BoyceIndependent · Departed during FY | 8,750 | 0 | — | — | — | 8,750 |
| Yvonne WassenaarIndependent · Departed during FY | 8,750 | 0 | — | — | — | 8,750 |
Board fee structure and ownership guideline
| Annual cash retainer | $30,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 8,000 / 5,000 / 5,000 |
| Stock ownership guideline | $2 |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $228,000 |
| Equity awards (grant-date value) | $410,400 |
| All other compensation | $0 |
| Total cost of the board | $638,400 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Forrester Research as a peer
Companies that benchmark against FORR
3 companies name FORR as a compensation peer
- Onterris, Inc.ONTFY2025
- TechTarget, Inc.TTGTFY2025
Each company listed discloses FORR 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 FORR 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 | Forrester Research | 2025 | George Colony | $472,500 | $0 | $0 | $13,000 | $673,332 |
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 | 2026-05-12 | 15,073,307 | 156,133 | 437,990 | 98.97% | Passed |
| 2025 | 2025-05-13 | 16,139,905 | 291,126 | 145,562 | 98.23% | Passed |
| 2024 | 2024-05-14 | 17,252,064 | 145,614 | 18,922 | 99.16% | Passed |
| 2023 | 2023-05-09 | 17,381,094 | 181,050 | 2,852 | 98.97% | Passed |
| 2022 | 2022-05-10 | 17,256,518 | 59,023 | 5,692 | 99.66% | Passed |
| 2021 | 2021-05-11 | 17,667,152 | 77,231 | 7,097 | 99.56% | 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 | 2026-05-12 | 98.97%a |
| 2025 | 2025-05-13 | 98.23%b |
| 2024 | 2024-05-14 | 99.16%c |
a. Voting standard not stated in the filing.
b. Approved under the standard stated in the filing — “However, because directors are elected by a plurality vote, abstentions and broker non-votes will have no effect on the outcome on Proposal One.”.
c. Approved under the standard stated in the filing — “However, because directors are elected by a plurality vote, abstentions and broker non-votes will have no effect on the outcome on Proposal One.”.
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.
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, Carrie Johnson. DEF 14A, filed 2026-03-31. Section “Executive Compensation”. As printed: 1,238,739. View filing ↗
- Section 01, L. Christian Finn. DEF 14A, filed 2026-03-31. Section “Executive Compensation”. As printed: 1,232,668. View filing ↗
- Section 01, Nate Swan. DEF 14A, filed 2026-03-31. Section “Executive Compensation”. As printed: 1,119,073. View filing ↗
- Section 01, Sharyn Leaver. DEF 14A, filed 2026-03-31. Section “Executive Compensation”. As printed: 922,098. View filing ↗
- Section 01, Ryan Darrah. DEF 14A, filed 2026-03-31. Section “Executive Compensation”. As printed: 806,411. View filing ↗
- Section 01, George Colony. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · page 17. As printed: 673,332. View filing ↗
- Section 03, Ryan Darrah RSU. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, L. Christian Finn RSU. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Carrie Johnson PSU. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Sharyn Leaver PSU. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Nate Swan RSU. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Sharyn Leaver RSU. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Ryan Darrah PSU. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Nate Swan PSU. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, L. Christian Finn PSU. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Carrie Johnson RSU. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Carrie Johnson OPTION. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Ryan Darrah OPTION. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, L. Christian Finn OPTION. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Nate Swan OPTION. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Sharyn Leaver OPTION. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 08, Anthony Friscia. DEF 14A, filed 2026-03-31. Section “Director Compensation”. As printed: 128,330. View filing ↗
- Section 08, Warren Romine. DEF 14A, filed 2026-03-31. Section “Director Compensation”. As printed: 125,080. View filing ↗
- Section 08, Corinne Munchbach. DEF 14A, filed 2026-03-31. Section “Director Compensation”. As printed: 120,830. View filing ↗
- Section 08, Neil Bradford. DEF 14A, filed 2026-03-31. Section “Director Compensation”. As printed: 117,080. View filing ↗
- Section 08, Robert Bennett. DEF 14A, filed 2026-03-31. Section “Director Compensation”. As printed: 117,080. View filing ↗
- Section 08, Robert M. Galford. DEF 14A, filed 2026-03-31. Section “Director Compensation”. As printed: 12,500. View filing ↗
- Section 08, David Boyce. DEF 14A, filed 2026-03-31. Section “Director Compensation”. As printed: 8,750. View filing ↗
- Section 08, Yvonne Wassenaar. DEF 14A, filed 2026-03-31. Section “Director Compensation”. As printed: 8,750. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-05-13. Item 5.07 · say-on-pay result. As reported: 98.97% (votes for as printed: 15,073,307). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-05-14. Item 5.07 · say-on-pay result. As reported: 98.23% (votes for as printed: 16,139,905). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-05-15. Item 5.07 · say-on-pay result. As reported: 99.16% (votes for as printed: 17,252,064). 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 228,000 + equity 410,400 + all other 0 = 638,400, summed across the director compensation table rows.
- Forrester Research (subject), Section 10b CEO total. DEF 14A, filed 2026-03-31. CEO total compensation as printed in Forrester Research's own proxy. As printed: 673,332. View filing ↗