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Companies Core Molding Technologies

Core Molding Technologies (CMT): executive pay, fiscal 2025

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CEO total pay$1,571,116CEO David Duvall · source
Say-on-pay support97.67%Latest vote · source
CEO vs. named peers11th pct.Of 22 peer CEOs

CEO pay, last three years

  • $2,287,563FY2023
  • $1,966,118FY2024
  • $1,571,116FY2025

CEO total pay was $1,571,116 in fiscal 2025, down from $1,966,118 in fiscal 2024.

FY2025: salary $787,350 · bonus $0 · stock awards $761,016 · option awards $0

Executives and directors

Frequently asked questions

Who was the highest-paid executive at Core Molding Technologies in fiscal 2025?
As disclosed, David Duvall (President and Chief Executive Officer) was the highest-paid executive at Core Molding Technologies in fiscal 2025, with total compensation of $1,571,116.
How does Core Molding Technologies's chief executive pay compare to its disclosed peer group?
As disclosed, David Duvall's total compensation ranked at the 11th percentile of Core Molding Technologies's disclosed peer group.
How did shareholders vote on Core Molding Technologies's executive compensation?
As disclosed, 97.67% of shareholders supported Core Molding Technologies's executive compensation in the latest say-on-pay vote.
How much does Core Molding Technologies spend in total on board compensation for fiscal 2025?
As disclosed, Core Molding Technologies reported total board compensation of $1,143,249 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
David Duvall$787,350$0$761,016$0$0$0$22,750$1,571,116
President and Chief Executive Officer
John Zimmer235,980000001,265,8161,501,796
Former EVP, Chief Financial Officer
Eric Palomaki430,7500344,58900022,750798,089
Chief Operating Officer
Alex Panda258,7500150,05600022,750431,556
EVP, 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
David Duvall$1,571,116$1,966,118$2,287,563↓ −395,002
John Zimmer1,501,7961,080,1171,269,085↑ +421,679
Eric Palomaki798,089964,4511,097,854↓ −166,362
Alex Panda431,556———

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 Company's 2025 executive compensation program was designed to increase focus on growth and profitability, consistent with the 2024 program.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantPearl Meyer & Partners LLC
Clawback policy—
Anti-hedgingtrue
Anti-pledgingtrue
Equity grants and outstanding awards

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
David DuvallPSU2025-03-1114,85229,704—44,556$380,508
Eric PalomakiPSU2025-03-116,72513,450—20,175172,295
Eric PalomakiRSU2025-03-11——13,450—172,295
Alex PandaPSU2025-03-11——5,857—75,028
David DuvallRSU2025-03-11——29,704—380,508
Alex PandaRSU2025-03-11——5,857—75,028

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
David Duvall$380,508$380,508$050.0%
Eric Palomaki172,295172,295050.0%
Alex Panda75,02875,028050.0%

% 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
Eric PalomakiPSU1,873—$37,554
David DuvallPSU4,182—83,849
Eric PalomakiPSU4,955—99,348
Eric PalomakiRSU5,619—112,661
Alex PandaRSU5,857—117,433
Alex PandaPSU5,857—117,433
Eric PalomakiRSU7,708—154,545
David DuvallPSU11,496—230,495
David DuvallRSU12,544—251,507
Eric PalomakiRSU13,450—269,673
Eric PalomakiPSU13,450—269,673
David DuvallRSU17,883—358,554
David DuvallRSU29,704—595,565
David DuvallPSU29,704—595,565
Director compensation
DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Thomas R. CellittiIndependent · Board Chair · Nominating and Corporate Governance · Compensation$131,525$115,546———$247,071
Matthew E. JauchiusIndependent · Audit (Chair) · Nominating and Corporate Governance104,45886,788———191,246
Andrew O. SmithIndependent · Audit · Compensation (Chair)105,15883,777———188,935
Sandra L. KowaleskiIndependent · Nominating and Corporate Governance (Chair)95,15883,777———178,935
Salvador MiñarroIndependent · Compensation89,84078,782———168,622
Ralph O. HellmoldIndependent · Audit · Nominating and Corporate Governance · Compensation89,65878,782———168,440
David L. DuvallEmployee director—————0

Board fee structure and ownership guideline

Annual cash retainer$85,575
Annual equity retainer$85,575
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)8,400 / 5,250 / 5,250
Stock ownership guideline$3

Total cost of the board

ComponentFY2025
Cash retainers and fees$615,797
Equity awards (grant-date value)$527,452
All other compensation$0
Total cost of the board$1,143,249

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

Peer group, and who names Core Molding Technologies as a peer

Companies that benchmark against CMT

6 companies name CMT as a compensation peer

Each company listed discloses CMT 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 CMT in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

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 Core Molding Technologies 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
1Gentherm Incorporated2025William Presley$950,000$7,804,910$0$1,487,938$12,966,927
2UFP Technologies, Inc.2025R. Jeffrey Bailly789,0005,377,499—1,260,9347,648,440
3Dorman Product Inc.2025Kevin Olsen970,1924,206,02401,522,9506,745,783
4DMC Global Inc.2025James O’Leary654,2313,699,99201,233,3045,615,614
5The Eastern Company2025Denis Sheahan800,0003,371,2970792,0005,069,867
6Motorcar Parts of America2026Selwyn Joffe831,5883,140,5290782,4964,840,825
7Commercial Vehicle Group2025James Ray879,2313,059,120003,949,428
8Myers Industries, Inc.2025Aaron Schapper775,3851,952,344402,500700,0003,889,228
9Stoneridge, Inc.2025James Zizelman900,0002,256,6210405,0003,593,069
10Strattec Security Corp.2026Jennifer Slater675,0001,372,95001,016,4003,409,754
11Helios Technologies, Inc.2025Sean Bagan713,461692,972705,015987,0003,383,351
12Ceco Environmental Corp2024Todd Gleason717,3831,627,505289,575382,6563,051,771
13Douglas Dynamics Inc..2025Mark Van Genderen651,4211,110,23901,219,6113,008,565
14Twin Disc, Incorporated2026John Batten712,0711,002,7670440,0602,345,850
15FreightCar America, Inc.2025Nicholas Randall605,000453,746449,219503,7362,032,701
16Hurco Companies, Inc.2025Gregory Volovic675,8001,249,991002,023,603
17Graham Corporation2026Matthew Malone462,769600,0040636,3081,809,120
18Core Molding Technologies2025David Duvall787,350761,016001,571,116
19Ascent Industries2025J. Bryan Kitchen500,000422,017——1,372,017
20Sifco Industries, Inc2025George Scherff341,923000352,602
—Manitex International, Inc.——————not in coverage universe
—Compx International Inc.——————not in coverage universe
—Universal Stainless & Alloy——————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
Core Molding Technologiesnot disclosednot disclosednot disclosedPearl Meyer & Partners LLC
Ascent Industriesnot disclosednot disclosednot disclosednot disclosed
Ceco Environmental Corp40%PSU 75 · Options 25NoMeridian Compensation Partners LLC
Commercial Vehicle Groupnot disclosednot disclosednot disclosedMeridian Compensation Partners, LLC
Compx International Inc.not disclosednot disclosednot disclosednot disclosed
DMC Global Inc.not disclosedRSU 50 · PSU 50not disclosedPearl Meyer & Partners, LLC
Dorman Product Inc.142%RSU 50 · PRSU 50NoMeridian Compensation Partners, LLC
Douglas Dynamics Inc..174.2%PSU 50 · RSU 50Yes — Relative TSRFrederic W. Cook & Co, Inc.
FreightCar America, Inc.not disclosedRestricted Shares 50 · Option 50not disclosedMeridian Compensation Partners, LLC
Gentherm Incorporatednot disclosedPSU 70 · RSU 30NoMeridian
Graham Corporationnot disclosedRSU 50 · PSU 50not disclosedFrederic W. Cook & Co., Inc.
Helios Technologies, Inc.140%RSU 50 · Options 50NoMercer
Hurco Companies, Inc.not disclosedPSU 55 · RSU 45NoPay Governance, LLC
Manitex International, Inc.not disclosednot disclosednot disclosednot disclosed
Motorcar Parts of Americanot disclosedRSU 50 · PSU 50not disclosedWillis Towers Watson
Myers Industries, Inc.not disclosedPSU 50 · RSU 50not disclosedSemler Brossy
Sifco Industries, Incnot disclosednot disclosednot disclosednot disclosed
Stoneridge, Inc.45%PSU 55 · RSU 45Yes — Total Shareholder Return (TSR)Meridian Compensation Partners
Strattec Security Corp.not disclosedRSU 50 · PSU 50NoPay Governance LLC
The Eastern Companynot disclosedPSU 60 · RSU 40Yes — Relative Total Shareholder Return (“TSR”) vs. KRX BanksPearl Meyer
Twin Disc, Incorporatednot disclosednot disclosednot disclosedPay Governance, LLC
UFP Technologies, Inc.not disclosednot disclosedNoPearl Meyer
Universal Stainless & Alloynot disclosednot disclosednot disclosednot disclosed

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
20262026-05-146,356,45054,75796,98897.67%Passed
20252025-05-156,138,080109,065158,41095.82%Passed
20242024-05-166,302,812128,83236,76497.44%Passed
20232023-05-115,616,47491,84344,44197.63%Passed
20222022-05-124,806,696655,15313,93187.78%Passed
20212021-05-135,160,69772,83514,66698.61%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
20262026-05-1497.67%a
20252025-05-1595.82%b
20242024-05-1697.44%c

a. Approved under the standard stated in the filing — “Abstentions will count as shares present and entitled to vote in determining the presence of a quorum for a particular matter, and will have the effect of a vote "withheld" for Proposal 1 and "against" such matter for Proposals 2, 3, and 4.”.

b. Approved under the standard stated in the filing — “Abstentions will count as shares present and entitled to vote in determining the presence of a quorum for a particular matter, and will have the effect of a vote "withheld" for Proposal 1 and "against" such matter for Proposals 2, 3, and 4.”.

c. Approved under the standard stated in the filing — “Abstentions will count as shares present and entitled to vote in determining the presence of a quorum for a particular matter, and will have the effect of a vote "withheld" for Proposal 1 and "against" such matter for Proposals 2, 3, 4 and 5.”.

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 (45 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, David Duvall. DEF 14A, filed 2026-04-06. Section “Executive Compensation” · page 31. As printed: 1,571,116. View filing ↗
  • Section 01, John Zimmer. DEF 14A, filed 2026-04-06. Section “Executive Compensation”. As printed: 1,501,796. View filing ↗
  • Section 01, Eric Palomaki. DEF 14A, filed 2026-04-06. Section “Executive Compensation”. As printed: 798,089. View filing ↗
  • Section 01, Alex Panda. DEF 14A, filed 2026-04-06. Section “Executive Compensation”. As printed: 431,556. View filing ↗
  • Section 03, David Duvall PSU. DEF 14A, filed 2026-04-06. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Eric Palomaki PSU. DEF 14A, filed 2026-04-06. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Eric Palomaki RSU. DEF 14A, filed 2026-04-06. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Alex Panda PSU. DEF 14A, filed 2026-04-06. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, David Duvall RSU. DEF 14A, filed 2026-04-06. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Alex Panda RSU. DEF 14A, filed 2026-04-06. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 08, Thomas R. Cellitti. DEF 14A, filed 2026-04-06. Section “Director Compensation”. As printed: 247,071. View filing ↗
  • Section 08, Matthew E. Jauchius. DEF 14A, filed 2026-04-06. Section “Director Compensation”. As printed: 191,246. View filing ↗
  • Section 08, Andrew O. Smith. DEF 14A, filed 2026-04-06. Section “Director Compensation”. As printed: 188,935. View filing ↗
  • Section 08, Sandra L. Kowaleski. DEF 14A, filed 2026-04-06. Section “Director Compensation”. As printed: 178,935. View filing ↗
  • Section 08, Salvador Miñarro. DEF 14A, filed 2026-04-06. Section “Director Compensation”. As printed: 168,622. View filing ↗
  • Section 08, Ralph O. Hellmold. DEF 14A, filed 2026-04-06. Section “Director Compensation”. As printed: 168,440. View filing ↗
  • Section 08, David L. Duvall. DEF 14A, filed 2026-04-06. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 06, 2026 vote. Form 8-K, filed 2026-05-15. Item 5.07 · say-on-pay result. As reported: 97.67% (votes for as printed: 6,356,450). View filing ↗
  • Section 06, 2025 vote. Form 8-K, filed 2025-05-19. Item 5.07 · say-on-pay result. As reported: 95.82% (votes for as printed: 6,138,080). View filing ↗
  • Section 06, 2024 vote. Form 8-K, filed 2024-05-20. Item 5.07 · say-on-pay result. As reported: 97.44% (votes for as printed: 6,302,812). 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 615,797 + equity 527,452 + all other 0 = 1,143,249, summed across the director compensation table rows.
  • Gentherm Incorporated, Section 10b CEO total. DEF 14A, filed 2026-04-01. CEO total compensation as printed in Gentherm Incorporated's own proxy. As printed: 12,966,927. View filing ↗
  • UFP Technologies, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-30. CEO total compensation as printed in UFP Technologies, Inc.'s own proxy. As printed: 7,648,440. View filing ↗
  • Dorman Product Inc., Section 10b CEO total. DEF 14A, filed 2026-04-06. CEO total compensation as printed in Dorman Product Inc.'s own proxy. As printed: 6,745,783. View filing ↗
  • DMC Global Inc., Section 10b CEO total. DEF 14A, filed 2026-03-31. CEO total compensation as printed in DMC Global Inc.'s own proxy. As printed: 5,615,614. View filing ↗
  • The Eastern Company, Section 10b CEO total. DEF 14A, filed 2026-03-26. CEO total compensation as printed in The Eastern Company's own proxy. As printed: 5,069,867. View filing ↗
  • Motorcar Parts of America, Section 10b CEO total. DEF 14A, filed 2026-07-29. CEO total compensation as printed in Motorcar Parts of America's own proxy. As printed: 4,840,825. View filing ↗
  • Commercial Vehicle Group, Section 10b CEO total. DEF 14A, filed 2026-04-27. CEO total compensation as printed in Commercial Vehicle Group's own proxy. As printed: 3,949,428. View filing ↗
  • Myers Industries, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-13. CEO total compensation as printed in Myers Industries, Inc.'s own proxy. As printed: 3,889,228. View filing ↗
  • Stoneridge, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-09. CEO total compensation as printed in Stoneridge, Inc.'s own proxy. As printed: 3,593,069. View filing ↗
  • Strattec Security Corp., Section 10b CEO total. DEF 14A, filed 2026-09-16. CEO total compensation as printed in Strattec Security Corp.'s own proxy. As printed: 3,409,754. View filing ↗
  • Helios Technologies, Inc., Section 10b CEO total. DEF 14A, filed 2026-05-04. CEO total compensation as printed in Helios Technologies, Inc.'s own proxy. As printed: 3,383,351. View filing ↗
  • Ceco Environmental Corp, Section 10b CEO total. DEF 14A, filed 2025-04-10. CEO total compensation as printed in Ceco Environmental Corp's own proxy. As printed: 3,051,771. View filing ↗
  • Douglas Dynamics Inc.., Section 10b CEO total. DEF 14A, filed 2026-03-20. CEO total compensation as printed in Douglas Dynamics Inc..'s own proxy. As printed: 3,008,565. View filing ↗
  • Twin Disc, Incorporated, Section 10b CEO total. DEF 14A, filed 2026-09-14. CEO total compensation as printed in Twin Disc, Incorporated's own proxy. As printed: 2,345,850. View filing ↗
  • FreightCar America, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-19. CEO total compensation as printed in FreightCar America, Inc.'s own proxy. As printed: 2,032,701. View filing ↗
  • Hurco Companies, Inc., Section 10b CEO total. DEF 14A, filed 2026-01-28. CEO total compensation as printed in Hurco Companies, Inc.'s own proxy. As printed: 2,023,603. View filing ↗
  • Graham Corporation, Section 10b CEO total. DEF 14A, filed 2026-07-14. CEO total compensation as printed in Graham Corporation's own proxy. As printed: 1,809,120. View filing ↗
  • Core Molding Technologies (subject), Section 10b CEO total. DEF 14A, filed 2026-04-06. CEO total compensation as printed in Core Molding Technologies's own proxy. As printed: 1,571,116. View filing ↗
  • Ascent Industries, Section 10b CEO total. DEF 14A, filed 2026-04-30. CEO total compensation as printed in Ascent Industries's own proxy. As printed: 1,372,017. View filing ↗
  • Sifco Industries, Inc, Section 10b CEO total. DEF 14A, filed 2025-12-22. CEO total compensation as printed in Sifco Industries, Inc's own proxy. As printed: 352,602. View filing ↗
  • Section 10a, Ascent Industries reciprocity. DEF 14A. Ascent Industries names Core Molding Technologies in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Strattec Security Corp. reciprocity. DEF 14A. Strattec Security Corp. names Core Molding Technologies in its own disclosed peer group (read from its most recent proxy). View filing ↗
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