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Companies Metallus Inc.

Metallus (MTUS): executive pay, fiscal 2025

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CEO total pay$5,863,348CEO Michael Williams · source
Say-on-pay support97.33%Latest vote · source
CEO vs. named peers38th pct.Of 15 peer CEOs
CEO pay ratio54:1To the median employee · source

CEO pay, last three years

  • $6,973,856FY2023
  • $4,260,359FY2024
  • $5,863,348FY2025

CEO total pay was $5,863,348 in fiscal 2025, up from $4,260,359 in fiscal 2024.

FY2025: salary $902,708 · bonus $0 · stock awards $3,865,156 · option awards $0

Executives and directors

Frequently asked questions

Who was the highest-paid executive at Metallus Inc. in fiscal 2025?
As disclosed, Michael Williams (Chief Executive Officer) was the highest-paid executive at Metallus Inc. in fiscal 2025, with total compensation of $5,863,348.
How does Metallus Inc.'s chief executive pay compare to its disclosed peer group?
As disclosed, Michael Williams's total compensation ranked at the 38th percentile of Metallus Inc.'s disclosed peer group.
What is Metallus Inc.'s CEO-to-median employee pay ratio?
As disclosed, Metallus Inc.'s CEO-to-median employee pay ratio was 54:1.
How did shareholders vote on Metallus Inc.'s executive compensation?
As disclosed, 97.33% of shareholders supported Metallus Inc.'s executive compensation in the latest say-on-pay vote.
How much does Metallus Inc. spend in total on board compensation for fiscal 2025?
As disclosed, Metallus Inc. reported total board compensation of $2,239,410 for fiscal 2025.

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 officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Michael Williams$902,708$0$3,865,156$0$1,017,803$0$77,681$5,863,348
Chief Executive Officer
Kristopher Westbrooks576,88401,018,8080490,395049,4622,135,549
President and Chief Operating Officer
Kristine Syrvalin407,5580781,5080271,536047,6761,508,278
Executive Vice President, General Counsel and Chief Human Resources Officer
Kevin Raketich356,8490781,5080237,75014,65443,0211,433,782
Executive Vice President and Chief Commercial Officer
John Zaranec III243,750100,000495,3830162,39807,8541,009,386
Executive Vice President and 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 officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Michael Williams$5,863,348$4,260,359$6,973,856↑ +1,602,989
Kristopher Westbrooks2,135,5491,291,4352,527,551↑ +844,114
Kristine Syrvalin1,508,2781,058,4662,166,963↑ +449,812
Kevin Raketich1,433,7821,063,8892,241,102↑ +369,893
John Zaranec III1,009,386———

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

Metallus’ executive compensation program is designed to align the interests of our executives with those of our shareholders and to encourage the personal and collective efforts of our executives to foster improved company performance. The company uses a balance of short- and long-term incentives as well as cash and non-cash compensation to meet its executive compensation program objectives, linking compensation with the full spectrum of the company’s short- and long-term business goals.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantMeridian
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
Equity grants and outstanding awards

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Kevin RaketichPSU2025-03-0712,35024,700—49,400$427,557
Kristopher WestbrooksPSU2025-03-0716,10032,200—64,400557,382
Michael WilliamsRSU2025-03-07——95,900—1,374,247
Michael WilliamsPSU2025-03-0771,950143,900—287,8002,490,909
Kevin RaketichRSU2025-03-07——24,700—353,951
Kristine SyrvalinPSU2025-03-0712,35024,700—49,400427,557
Kristine SyrvalinRSU2025-03-07——24,700—353,951
Kristopher WestbrooksRSU2025-03-07——32,200—461,426
John Zaranec IIIRSU2025-06-16——34,960—495,383

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Kevin Raketich$353,951$427,557$054.7%
Kristopher Westbrooks461,426557,382054.7%
Michael Williams1,374,2472,490,909064.4%
Kristine Syrvalin353,951427,557054.7%
John Zaranec III495,383000.0%

% 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

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Kristine SyrvalinPSU7,300—$125,268
Kevin RaketichPSU7,750—132,990
Kristopher WestbrooksPSU8,250—141,570
Kristine SyrvalinRSU14,600—250,536
Kevin RaketichRSU15,500—265,980
Kristine SyrvalinRSU16,300—279,708
Kristopher WestbrooksRSU16,500—283,140
Kevin RaketichRSU17,300—296,868
Kristopher WestbrooksRSU18,400—315,744
Kristopher WestbrooksPSU20,000—343,200
Kristine SyrvalinPSU20,000—343,200
Kevin RaketichPSU20,000—343,200
Kristine SyrvalinRSU24,700—423,852
Kristine SyrvalinPSU24,700—423,852
Kevin RaketichRSU24,700—423,852
Kevin RaketichPSU24,700—423,852
Kristopher WestbrooksRSU32,200—552,552
Kristopher WestbrooksPSU32,200—552,552
John Zaranec IIIRSU34,960—599,914
Michael WilliamsPSU40,000—686,400
Michael WilliamsPSU47,550—815,958
Michael WilliamsRSU63,400—1,087,944
Michael WilliamsRSU65,300—1,120,548
Michael WilliamsRSU95,900—1,645,644
Michael WilliamsPSU143,900—2,469,324
Director compensation
DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Ronald A. RiceIndependent · Board Chair · Nominating and Corporate Governance$180,000$119,941———$299,941
Donald T. MisheffIndependent · Audit (Chair)110,000119,941———229,941
Randall A. WotringIndependent · Compensation · Nominating and Corporate Governance105,000119,941———224,941
Kenneth V. GarciaIndependent · Compensation (Chair)105,000119,941———224,941
Nicholas J. ChirekosIndependent · Audit90,000119,941———209,941
Randall H. EdwardsIndependent · Compensation · Nominating and Corporate Governance90,000119,941———209,941
Ellis A. JonesIndependent · Audit · Nominating and Corporate Governance90,000119,941———209,941
Mary Ellen BakerIndependent · Audit90,000119,941———209,941
Melissa M. MillerIndependent · Compensation90,000119,941———209,941
Jamy P. RankinIndependent · Audit90,000119,941———209,941
Michael S. WilliamsEmployee director—————0

Board fee structure and ownership guideline

Annual cash retainer$90,000
Annual equity retainer$120,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)20,000 / 15,000 / 15,000
Stock ownership guideline$5

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,040,000
Equity awards (grant-date value)$1,199,410
All other compensation$0
Total cost of the board$2,239,410

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

Peer group, and who names Metallus as a peer

Companies that benchmark against MTUS

6 companies name MTUS as a compensation peer

The list of companies that name MTUS as a peer is temporarily unavailable — recheck shortly.

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

Peer reciprocity

The companies Metallus Inc. names as compensation peers that name it back in their own disclosed peer groups.

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.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Ryerson Holding Corporation2025Edward Lehner$1,200,000$16,127,600$0$451,500$17,857,908
2Nucor Corporation2025Leon J. Topalian1,560,0008,895,2732,000,0002,486,20314,945,471
3ATI Inc.2025Kimberly Fields950,00010,051,70002,295,79413,512,737
4Reliance, Inc.2025Karla Lewis1,325,0007,653,35002,072,30013,374,389
5Carpenter Technology Corporation2026Tony Thene1,055,3568,250,41802,924,78412,393,230
6Steel Dynamics, Inc.2025Mark Millett1,535,0005,095,406—5,372,50012,059,908
7Commercial Metals Company2025Peter Matt1,084,6165,505,80501,322,5308,022,901
8Worthington Steel, Inc.2026Geoffrey Gilmore1,082,0772,976,54803,005,3477,194,997
9Metallus Inc.2025Michael Williams902,7083,865,15601,017,8035,863,348
10Radius Recycling, Inc.2024Tamara Lundgren1,200,7663,348,7910143,5404,912,875
11Olympic Steel, Inc.2024Richard Marabito975,0001,100,01601,560,0463,868,045
12Friedman Industries, Incorporated2026Michael Taylor750,000718,234002,709,607
13Ampco-Pittsburgh Corporation2025J. Brett McBrayer718,750701,7820600,9532,065,460
14Ascent Industries Co.2025J. Bryan Kitchen500,000422,017——1,372,017
—United States Steel Corporation——————not in coverage universe

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.

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Metallus Inc.not disclosedPRSU 60 · RSU 40not disclosedMeridian
Ampco-Pittsburgh Corporationnot disclosedPSU 67 · RSU 33not disclosedPay Governance LLC
Ascent Industries Co.not disclosednot disclosednot disclosednot disclosed
ATI Inc.not disclosedPSU 70 · RSU 30not disclosedMeridian Compensation Partners, LLC
Carpenter Technology Corporationnot disclosedPRSU 50 · RSU 50Yes — Total Stockholder Return (TSR)Korn Ferry
Commercial Metals Companynot disclosednot disclosednot disclosedFW Cook
Friedman Industries, Incorporatednot disclosednot disclosedNonot disclosed
Nucor Corporation177.08%Cash LTI 50NoPearl Meyer & Partners, LLC
Olympic Steel, Inc.not disclosednot disclosednot disclosedPearl Meyer
Radius Recycling, Inc.not disclosedRSU 50 · PSU 50not disclosedPearl Meyer
Reliance, Inc.156.4%PSU 80 · RSU 20NoPay Governance LLC
Ryerson Holding Corporation30%PSU 67 · RSU 33NoCompensation Advisory Partners (CAP)
Steel Dynamics, Inc.350%PSU 53 · RSU 47NoPearl Meyer & Partners, LLC
United States Steel Corporationnot disclosednot disclosednot disclosednot disclosed
Worthington Steel, Inc.not disclosednot disclosednot disclosedWillis Towers Watson

Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.

Say-on-pay history and pay ratio
Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-04-3032,457,415890,75172,79597.33%Passed
20252025-05-0731,666,789310,74652,60699.03%Passed
20242024-05-0731,799,759246,963470,46399.23%Passed
20232023-05-0230,342,797677,068286,14697.82%Passed
20222022-05-0429,816,4581,246,971261,67095.99%Passed
20212021-05-0531,340,2061,576,58784,68995.21%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 yearMeeting dateApproval — company’s computation
20262026-04-3097.33%a
20252025-05-0799.03%b
20242024-05-0799.23%c

a. Approved under the standard stated in the filing — “In determining whether this proposal has received the affirmative vote of a majority of the votes cast on the proposal, abstentions and broker non-votes are not considered votes cast and, therefore, will not count either in favor of or against the proposal.”.

b. Approved under the standard stated in the filing — “In determining whether this proposal has received the affirmative vote of a majority of the votes cast on the proposal, abstentions and broker non-votes are not considered votes cast and, therefore, will not count either in favor of or against the proposal.”.

c. Approved under the standard stated in the filing — “In determining whether this proposal has received the affirmative vote of a majority of the votes cast on the proposal, abstentions and broker non-votes are not considered votes cast and, therefore, will not count either in favor of or against the proposal.”.

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)54 : 1
CEO total compensation—
Median employee compensation$108,487
Insider trades since the proxy

No insider equity transactions reported since the proxy statement.

Sources (47 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, Michael Williams. DEF 14A, filed 2026-03-12. Section “2025 Summary compensation table” · page 69. As printed: 5,863,348. View filing ↗
  • Section 01, Kristopher Westbrooks. DEF 14A, filed 2026-03-12. Section “2025 Summary compensation table”. As printed: 2,135,549. View filing ↗
  • Section 01, Kristine Syrvalin. DEF 14A, filed 2026-03-12. Section “2025 Summary compensation table”. As printed: 1,508,278. View filing ↗
  • Section 01, Kevin Raketich. DEF 14A, filed 2026-03-12. Section “2025 Summary compensation table”. As printed: 1,433,782. View filing ↗
  • Section 01, John Zaranec III. DEF 14A, filed 2026-03-12. Section “2025 Summary compensation table”. As printed: 1,009,386. View filing ↗
  • Section 03, Kevin Raketich PSU. DEF 14A, filed 2026-03-12. Section “2025 Grants of plan-based awards table” · grants of plan-based awards table. View filing ↗
  • Section 03, Kristopher Westbrooks PSU. DEF 14A, filed 2026-03-12. Section “2025 Grants of plan-based awards table” · grants of plan-based awards table. View filing ↗
  • Section 03, Michael Williams RSU. DEF 14A, filed 2026-03-12. Section “2025 Grants of plan-based awards table” · grants of plan-based awards table. View filing ↗
  • Section 03, Michael Williams PSU. DEF 14A, filed 2026-03-12. Section “2025 Grants of plan-based awards table” · grants of plan-based awards table. View filing ↗
  • Section 03, Kevin Raketich RSU. DEF 14A, filed 2026-03-12. Section “2025 Grants of plan-based awards table” · grants of plan-based awards table. View filing ↗
  • Section 03, Kristine Syrvalin PSU. DEF 14A, filed 2026-03-12. Section “2025 Grants of plan-based awards table” · grants of plan-based awards table. View filing ↗
  • Section 03, Kristine Syrvalin RSU. DEF 14A, filed 2026-03-12. Section “2025 Grants of plan-based awards table” · grants of plan-based awards table. View filing ↗
  • Section 03, Kristopher Westbrooks RSU. DEF 14A, filed 2026-03-12. Section “2025 Grants of plan-based awards table” · grants of plan-based awards table. View filing ↗
  • Section 03, John Zaranec III RSU. DEF 14A, filed 2026-03-12. Section “2025 Grants of plan-based awards table” · grants of plan-based awards table. View filing ↗
  • Section 07, pay ratio. DEF 14A, filed 2026-03-12. Section “CEO Pay Ratio”. As printed: 54 : 1. View filing ↗
  • Section 08, Ronald A. Rice. DEF 14A, filed 2026-03-12. Section “Director Compensation”. As printed: 299,941. View filing ↗
  • Section 08, Donald T. Misheff. DEF 14A, filed 2026-03-12. Section “Director Compensation”. As printed: 229,941. View filing ↗
  • Section 08, Randall A. Wotring. DEF 14A, filed 2026-03-12. Section “Director Compensation”. As printed: 224,941. View filing ↗
  • Section 08, Kenneth V. Garcia. DEF 14A, filed 2026-03-12. Section “Director Compensation”. As printed: 224,941. View filing ↗
  • Section 08, Nicholas J. Chirekos. DEF 14A, filed 2026-03-12. Section “Director Compensation”. As printed: 209,941. View filing ↗
  • Section 08, Randall H. Edwards. DEF 14A, filed 2026-03-12. Section “Director Compensation”. As printed: 209,941. View filing ↗
  • Section 08, Ellis A. Jones. DEF 14A, filed 2026-03-12. Section “Director Compensation”. As printed: 209,941. View filing ↗
  • Section 08, Mary Ellen Baker. DEF 14A, filed 2026-03-12. Section “Director Compensation”. As printed: 209,941. View filing ↗
  • Section 08, Melissa M. Miller. DEF 14A, filed 2026-03-12. Section “Director Compensation”. As printed: 209,941. View filing ↗
  • Section 08, Jamy P. Rankin. DEF 14A, filed 2026-03-12. Section “Director Compensation”. As printed: 209,941. View filing ↗
  • Section 08, Michael S. Williams. DEF 14A, filed 2026-03-12. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 06, 2026 vote. Form 8-K, filed 2026-05-01. Item 5.07 · say-on-pay result. As reported: 97.33% (votes for as printed: 32,457,415). View filing ↗
  • Section 06, 2025 vote. Form 8-K, filed 2025-05-08. Item 5.07 · say-on-pay result. As reported: 99.03% (votes for as printed: 31,666,789). View filing ↗
  • Section 06, 2024 vote. Form 8-K, filed 2024-05-08. Item 5.07 · say-on-pay result. As reported: 99.23% (votes for as printed: 31,799,759). 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 1,040,000 + equity 1,199,410 + all other 0 = 2,239,410, summed across the director compensation table rows.
  • Ryerson Holding Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-18. CEO total compensation as printed in Ryerson Holding Corporation's own proxy. As printed: 17,857,908. View filing ↗
  • Nucor Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-27. CEO total compensation as printed in Nucor Corporation's own proxy. As printed: 14,945,471. View filing ↗
  • ATI Inc., Section 10b CEO total. DEF 14A, filed 2026-03-24. CEO total compensation as printed in ATI Inc.'s own proxy. As printed: 13,512,737. View filing ↗
  • Reliance, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in Reliance, Inc.'s own proxy. As printed: 13,374,389. View filing ↗
  • Carpenter Technology Corporation, Section 10b CEO total. DEF 14A, filed 2026-09-11. CEO total compensation as printed in Carpenter Technology Corporation's own proxy. As printed: 12,393,230. View filing ↗
  • Steel Dynamics, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-27. CEO total compensation as printed in Steel Dynamics, Inc.'s own proxy. As printed: 12,059,908. View filing ↗
  • Commercial Metals Company, Section 10b CEO total. DEF 14A, filed 2025-11-25. CEO total compensation as printed in Commercial Metals Company's own proxy. As printed: 8,022,901. View filing ↗
  • Worthington Steel, Inc., Section 10b CEO total. DEF 14A, filed 2026-08-14. CEO total compensation as printed in Worthington Steel, Inc.'s own proxy. As printed: 7,194,997. View filing ↗
  • Metallus Inc. (subject), Section 10b CEO total. DEF 14A, filed 2026-03-12. CEO total compensation as printed in Metallus Inc.'s own proxy. As printed: 5,863,348. View filing ↗
  • Radius Recycling, Inc., Section 10b CEO total. DEF 14A, filed 2024-12-16. CEO total compensation as printed in Radius Recycling, Inc.'s own proxy. As printed: 4,912,875. View filing ↗
  • Olympic Steel, Inc., Section 10b CEO total. DEF 14A, filed 2025-03-28. CEO total compensation as printed in Olympic Steel, Inc.'s own proxy. As printed: 3,868,045. View filing ↗
  • Friedman Industries, Incorporated, Section 10b CEO total. DEF 14A, filed 2026-07-28. CEO total compensation as printed in Friedman Industries, Incorporated's own proxy. As printed: 2,709,607. View filing ↗
  • Ampco-Pittsburgh Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-27. CEO total compensation as printed in Ampco-Pittsburgh Corporation's own proxy. As printed: 2,065,460. View filing ↗
  • Ascent Industries Co., Section 10b CEO total. DEF 14A, filed 2026-04-30. CEO total compensation as printed in Ascent Industries Co.'s own proxy. As printed: 1,372,017. View filing ↗
  • Section 10a, Ryerson Holding Corporation reciprocity. DEF 14A. Ryerson Holding Corporation names Metallus Inc. in its own disclosed peer group (read from its most recent proxy). View filing ↗
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