Companies Ingredion Inc
Ingredion (INGR): executive pay, fiscal 2025
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CEO pay, last three years
- $11,101,992FY2023
- $11,903,681FY2024
- $12,932,234FY2025
CEO total pay was $12,932,234 in fiscal 2025, up from $11,903,681 in fiscal 2024.
FY2025: salary $1,290,929 · bonus $0 · stock awards $6,509,237 · option awards $1,999,964
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 |
|---|---|---|---|---|---|---|---|---|
| James Zallie | $1,290,929 | $0 | $6,509,237 | $1,999,964 | $2,185,980 | $665,369 | $280,755 | $12,932,234 |
| Chairman of the Board, President and Chief Executive Officer | ||||||||
| James Gray | 759,773 | 0 | 1,464,555 | 450,006 | 871,060 | 102,616 | 128,744 | 3,776,754 |
| Executive Vice President and Chief Financial Officer | ||||||||
| Robert Ritchie | 556,877 | 0 | 976,409 | 299,993 | 487,930 | 125,776 | 160,106 | 2,607,091 |
| Executive Vice President, Food & Industrial Ingredients, US/Canada & Latin America and Sugar Reduction | ||||||||
| Tanya Jaeger de Foras | 536,937 | 0 | 772,995 | 237,493 | 456,462 | 5,228 | 135,409 | 2,144,524 |
| Senior Vice President, Chief Legal Officer, Corporate Secretary and Chief Compliance Officer | ||||||||
| Eric Seip | 559,812 | 0 | 671,288 | 206,243 | 463,203 | 15,646 | 138,004 | 2,054,196 |
| Senior Vice President, Global Operations, and Chief Supply Chain 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 |
|---|---|---|---|---|
| James Zallie | $12,932,234 | $11,903,681 | $11,101,992 | ↑ +1,028,553 |
| James Gray | 3,776,754 | 3,716,744 | 3,157,018 | ↑ +60,010 |
| Robert Ritchie | 2,607,091 | 2,166,073 | — | ↑ +441,018 |
| Tanya Jaeger de Foras | 2,144,524 | 2,128,911 | — | ↑ +15,613 |
| Eric Seip | 2,054,196 | 2,070,882 | 1,889,929 | ↓ −16,686 |
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 program is designed to attract and retain high-quality talent, provide fair compensation commensurate with the work required, and align directors' and executives' interests with the interests of stockholders.
| CEO STI target (% of salary) | 150% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Meridian |
| Clawback policy | true |
| Anti-hedging | — |
| Anti-pledging | — |
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 |
|---|---|---|---|---|---|---|---|
| Tanya Jaeger de Foras | RSU | 2025-02-26 | — | — | 1,832 | — | $239,204 |
| James Zallie | OPTION | 2025-02-26 | — | — | 59,647 | — | 1,999,964 |
| Tanya Jaeger de Foras | OPTION | 2025-02-26 | — | — | 7,083 | — | 237,493 |
| James Gray | OPTION | 2025-02-26 | — | — | 13,421 | — | 450,006 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Tanya Jaeger de Foras | $239,204 | $0 | $237,493 | 0.0% |
| James Zallie | 0 | 0 | 1,999,964 | 0.0% |
| James Gray | 0 | 0 | 450,006 | 0.0% |
% 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 |
|---|---|---|---|---|
| Robert Ritchie | RSU | 706 | — | $77,797 |
| Robert Ritchie | Option | 928 | 98.69 | — |
| Eric Seip | RSU | 1,621 | — | 178,762 |
| Robert Ritchie | RSU | 1,866 | — | 205,769 |
| Tanya Jaeger de Foras | RSU | 1,867 | — | 205,840 |
| Eric Seip | RSU | 1,911 | — | 210,742 |
| Eric Seip | RSU | 1,930 | — | 212,756 |
| Tanya Jaeger de Foras | RSU | 2,063 | — | 227,462 |
| Tanya Jaeger de Foras | RSU | 2,151 | — | 237,128 |
| Robert Ritchie | RSU | 2,280 | — | 251,396 |
| Eric Seip | Option | 2,538 | 98.69 | — |
| Tanya Jaeger de Foras | Option | 2,713 | 98.69 | — |
| Robert Ritchie | RSU | 3,077 | — | 339,228 |
| Eric Seip | RSU | 3,181 | — | 350,737 |
| James Gray | RSU | 3,390 | — | 373,785 |
| Robert Ritchie | RSU | 3,658 | — | 403,331 |
| Eric Seip | RSU | 3,658 | — | 403,331 |
| Tanya Jaeger de Foras | RSU | 3,663 | — | 403,882 |
| James Gray | RSU | 3,794 | — | 418,278 |
| James Gray | RSU | 3,850 | — | 424,448 |
| Tanya Jaeger de Foras | RSU | 4,115 | — | 453,720 |
| Robert Ritchie | RSU | 4,627 | — | 510,173 |
| James Gray | Option | 4,989 | 98.69 | — |
| Robert Ritchie | Option | 5,064 | 108.38 | — |
| Eric Seip | Option | 5,064 | 108.38 | — |
| Tanya Jaeger de Foras | Option | 5,697 | 108.38 | — |
| Eric Seip | Option | 6,151 | 130.57 | — |
| James Gray | RSU | 6,941 | — | 765,315 |
| Tanya Jaeger de Foras | Option | 7,083 | 130.57 | — |
| James Gray | RSU | 7,545 | — | 831,912 |
| Robert Ritchie | Option | 8,947 | 130.57 | — |
| James Gray | Option | 10,445 | 108.38 | — |
| James Gray | Option | 13,421 | 130.57 | — |
| James Zallie | RSU | 15,083 | — | 1,663,106 |
| James Zallie | RSU | 15,865 | — | 1,749,319 |
| James Zallie | RSU | 17,035 | — | 1,878,277 |
| James Zallie | Option | 22,405 | 98.69 | — |
| James Zallie | RSU | 30,848 | — | 3,401,300 |
| James Zallie | RSU | 31,093 | — | 3,428,314 |
| James Zallie | Option | 43,043 | 108.38 | — |
| James Zallie | Option | 59,647 | 130.57 | — |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Gregory B. KennyIndependent · CGN (Chair) · Departed during FY | $280,000 | $159,690 | — | — | $0 | $439,690 |
| Victoria J. ReichIndependent · Lead Independent Director · Audit | 130,000 | 159,690 | — | — | 7,500 | 297,190 |
| Rhonda L. JordanIndependent · Compensation (Chair) · PCC (Chair) · CGN | 125,000 | 159,690 | — | — | 8,500 | 293,190 |
| Patricia VerduinIndependent · Corporate Governance · Nominating | 105,000 | 159,690 | — | — | 8,500 | 273,190 |
| David B. FischerIndependent · Compensation | 105,000 | 159,690 | — | — | 3,551 | 268,241 |
| Catherine A. SueverIndependent · Audit | 105,000 | 159,690 | — | — | 2,000 | 266,690 |
| Jorge A. UribeIndependent · Corporate Governance and Nominating | 105,000 | 159,690 | — | — | 0 | 264,690 |
| Charles V. MagroIndependent · Compensation | 105,000 | 159,690 | — | — | 0 | 264,690 |
| Stephan B. TandaIndependent · Corporate Governance and Nominating (Chair) | 105,000 | 159,690 | — | — | 0 | 264,690 |
| Dwayne A. WilsonIndependent · Audit | 105,000 | 159,690 | — | — | 0 | 264,690 |
| James ZallieEmployee director · Board Chair | — | — | — | — | — | 0 |
| Siobhán TalbotIndependent · Partial-year service · Newly elected | — | — | — | — | — | — |
Board fee structure and ownership guideline
| Annual cash retainer | $105,000 |
|---|---|
| Annual equity retainer | $160,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 25,000 / 20,000 / 15,000 |
| Stock ownership guideline | $5 |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $1,270,000 |
| Equity awards (grant-date value) | $1,596,900 |
| All other compensation | $30,051 |
| Total cost of the board | $2,896,951 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Ingredion as a peer
Companies that benchmark against INGR
11 companies name INGR as a compensation peer
- APTARGROUP, INC.ATRFY2025
- DARLING INGREDIENTS INC.DARFY2025
- DEL MONTE CORPDMCFY2025
- EDGEWELL PERSONAL CARE CoEPCFY2025
- FMC CORPFMCFY2025
- INTERNATIONAL FLAVORS & FRAGRANCES INCIFFFY2025
- J M SMUCKER CoSJMFY2026
- Lamb Weston Holdings, Inc.LWFY2026
- PACKAGING CORP OF AMERICAPKGFY2025
- SMITHFIELD FOODS INCSFDFY2025
- TreeHouse Foods, Inc.THSFY2024
Each company listed discloses INGR 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 INGR 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 Ingredion 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.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Eastman Chemical Company | 2025 | Mark Costa | $1,406,958 | $12,682,200 | $3,278,151 | $987,000 | $19,498,966 |
| 2 | Bunge Global SA | 2025 | Gregory Heckman | 1,400,000 | 12,767,722 | 0 | 4,112,640 | 18,945,479 |
| 3 | Corteva, Inc. | 2025 | Charles Magro | 1,405,385 | 9,320,078 | 2,330,023 | 3,990,000 | 17,499,399 |
| 4 | International Flavors | 2025 | J. Erik Fyrwald | 1,026,250 | 11,656,764 | 0 | 2,047,230 | 15,002,866 |
| 5 | Ingredion Inc | 2025 | James Zallie | 1,290,929 | 6,509,237 | 1,999,964 | 2,185,980 | 12,932,234 |
| 6 | FMC Corporation | 2025 | Pierre Brondeau | 1,334,125 | 6,257,919 | 2,373,420 | 1,798,261 | 12,038,391 |
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
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Ingredion Inc | 112.5% | PSU 50 · RSU 25 · Options 25 | Yes — Relative Total Shareholder Return (rTSR) | Meridian |
| Bunge Global SA | not disclosed | PBRSU 60 · TBRSU 40 | Yes — 3-Year RTSR | Semler Brossy |
| Corteva, Inc. | 190.0% | PSU 60 · Option 20 · RSU 20 | No | Frederic W. Cook & Co., Inc. |
| Eastman Chemical Company | 47% | PSA 60 · Option 20 · RSU 20 | Yes — Relative total shareholder return (rTSR) | Aon plc |
| FMC Corporation | not disclosed | not disclosed | Yes | Aon |
| International Flavors | 98.9% | PSU 60 · RSU 40 | Yes — Relative TSR vs. S&P 500 - Chemicals | FW Cook |
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 year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-20 | 49,179,038 | 1,822,987 | 100,036 | 96.43% | Passed |
| 2025 | 2025-05-21 | 50,840,164 | 2,679,283 | 323,240 | 94.99% | Passed |
| 2024 | 2024-05-15 | 50,326,751 | 3,376,308 | 327,876 | 93.71% | Passed |
| 2023 | 2023-05-19 | 52,112,372 | 2,328,169 | 135,378 | 95.72% | Passed |
| 2022 | 2022-05-20 | 52,852,044 | 2,273,252 | 143,158 | 95.88% | Passed |
| 2021 | 2021-05-19 | 52,239,241 | 2,828,680 | 137,215 | 94.86% | 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 | 2026-05-20 | 96.43%a |
| 2025 | 2025-05-21 | 94.99%b |
| 2024 | 2024-05-15 | 93.71%c |
a. Approved under the standard stated in the filing — “How many votes are required for the approval of each proposal and what is the effect of abstentions? A summary of our 2026 annual meeting proposals and applicable vote standards is as follows: Proposal Voting Options Vote Required for Approval Effect of an Abstention Election of Directors FOR, AGAINST, ABSTAIN Majority of the votes cast None -- does not count as a vote cast on this proposal Approval of Named Executive Officer Compensation FOR, AGAINST, ABSTAIN Majority of voting power of shares present at the meeting and entitled to vote thereat Treated as a vote AGAINST Ratification of Appointment of KPMG as Our Independent Registered Public Accounting Firm FOR, AGAINST, ABSTAIN Majority of voting power of shares present at the meeting and entitled to vote thereat Treated as a vote AGAINST What is the effect of broker non-votes? Under NYSE rules, if you hold your shares through a record holder such as a broker, the broker will not be able to vote your shares on Proposal 1 (election of directors) or Proposal 2 (advisory vote to approve named executive officer compensation as described in this proxy statement) unless it receives specific instructions from you.”.
b. Approved under the standard stated in the filing — “How many votes are required for the approval of each proposal and what is the effect of abstentions? A summary of our 2025 annual meeting proposals and applicable vote standards is as follows: Proposal Voting Options Vote Required for Approval Effect of an Abstention Election of Directors FOR, AGAINST, ABSTAIN Majority of the votes cast None: Does not count as a vote cast on this proposal Approval of Named Executive Officer Compensation FOR, AGAINST, ABSTAIN Majority of voting power of shares present at the meeting and entitled to vote thereat Treated as a vote AGAINST Ratification of Appointment of KPMG as Our Independent Registered Public Accounting Firm FOR, AGAINST, ABSTAIN Majority of voting power of shares present at the meeting and entitled to vote thereat Treated as a vote AGAINST What is the effect of broker non-votes? Under NYSE rules, if you hold your shares through a record holder of your shares such as a broker, the broker will not be able to vote your shares on Proposal 1 (election of directors) or Proposal 2 (advisory vote to approve named executive officer compensation as disclosed in this proxy statement) unless it receives specific instructions from you.”.
c. Voting standard not stated in the filing.
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) | 226 : 1 |
|---|---|
| CEO total compensation | $12,932,234 |
| Median employee compensation | $57,174 |
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, James Zallie. DEF 14A, filed 2026-04-08. Section “2025 Summary Compensation Table” · page 47. As printed: 12,932,234. View filing ↗
- Section 01, James Gray. DEF 14A, filed 2026-04-08. Section “2025 Summary Compensation Table” · page 47. As printed: 3,776,754. View filing ↗
- Section 01, Robert Ritchie. DEF 14A, filed 2026-04-08. Section “2025 Summary Compensation Table” · page 47. As printed: 2,607,091. View filing ↗
- Section 01, Tanya Jaeger de Foras. DEF 14A, filed 2026-04-08. Section “2025 Summary Compensation Table” · page 47. As printed: 2,144,524. View filing ↗
- Section 01, Eric Seip. DEF 14A, filed 2026-04-08. Section “2025 Summary Compensation Table” · page 47. As printed: 2,054,196. View filing ↗
- Section 03, Tanya Jaeger de Foras RSU. DEF 14A, filed 2026-04-08. Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, James Zallie OPTION. DEF 14A, filed 2026-04-08. Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Tanya Jaeger de Foras OPTION. DEF 14A, filed 2026-04-08. Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, James Gray OPTION. DEF 14A, filed 2026-04-08. Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-04-08. Section “CEO Pay Ratio”. As printed: 226 : 1. View filing ↗
- Section 08, Gregory B. Kenny. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 439,690. View filing ↗
- Section 08, Victoria J. Reich. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 297,190. View filing ↗
- Section 08, Rhonda L. Jordan. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 293,190. View filing ↗
- Section 08, Patricia Verduin. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 273,190. View filing ↗
- Section 08, David B. Fischer. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 268,241. View filing ↗
- Section 08, Catherine A. Suever. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 266,690. View filing ↗
- Section 08, Jorge A. Uribe. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 264,690. View filing ↗
- Section 08, Charles V. Magro. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 264,690. View filing ↗
- Section 08, Stephan B. Tanda. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 264,690. View filing ↗
- Section 08, Dwayne A. Wilson. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 264,690. View filing ↗
- Section 08, James Zallie. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, Siobhán Talbot. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: —. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-05-21. Item 5.07 · say-on-pay result. As reported: 96.43% (votes for as printed: 49,179,038). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-05-23. Item 5.07 · say-on-pay result. As reported: 94.99% (votes for as printed: 50,840,164). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-05-16. Item 5.07 · say-on-pay result. As reported: 93.71% (votes for as printed: 50,326,751). 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 1,270,000 + equity 1,596,900 + all other 30,051 = 2,896,951, summed across the director compensation table rows.
- Eastman Chemical Company, Section 10b CEO total. DEF 14A, filed 2026-03-24. CEO total compensation as printed in Eastman Chemical Company's own proxy. As printed: 19,498,966. View filing ↗
- Bunge Global SA, Section 10b CEO total. DEF 14A, filed 2026-04-10. CEO total compensation as printed in Bunge Global SA's own proxy. As printed: 18,945,479. View filing ↗
- Corteva, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-19. CEO total compensation as printed in Corteva, Inc.'s own proxy. As printed: 17,499,399. View filing ↗
- International Flavors, Section 10b CEO total. DEF 14A, filed 2026-03-18. CEO total compensation as printed in International Flavors's own proxy. As printed: 15,002,866. View filing ↗
- Ingredion Inc (subject), Section 10b CEO total. DEF 14A, filed 2026-04-08. CEO total compensation as printed in Ingredion Inc's own proxy. As printed: 12,932,234. View filing ↗
- FMC Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-13. CEO total compensation as printed in FMC Corporation's own proxy. As printed: 12,038,391. View filing ↗
- Section 10a, FMC Corporation reciprocity. DEF 14A. FMC Corporation names Ingredion Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, International Flavors reciprocity. DEF 14A. International Flavors names Ingredion Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗