Companies Newmark Group

Newmark (NMRK): 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 Newmark Group’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 total pay$2,668,848CEO Barry Gosin · source

Say-on-pay support84.74%Latest vote · source

CEO vs. named peers13th pct.Of 11 peer CEOs

CEO pay ratio32:1To the median employee · source

CEO pay, last three years

$47,738,735FY2023
$27,659,664FY2024
$2,668,848FY2025

CEO total pay was $2,668,848 in fiscal 2025, down from $27,659,664 in fiscal 2024.

FY2025: salary $1,000,000 · bonus $1,500,000 · stock awards $0 · option awards $0

Executives and directors

Barry Gosin · CEO Luis Alvarado · COO Michael Rispoli · CFO Stephen Merkel · General Counsel Howard Lutnick · Executive Chairman Jay Itzkowitz · Independent Director Kenneth A. McIntyre · Independent Director Kyle S. Lutnick · Director Virginia S. Bauer · Independent Director

Frequently asked questions

Who was the highest-paid executive at Newmark Group in fiscal 2025?

As disclosed, Howard Lutnick (Former Executive Chairman) was the highest-paid executive at Newmark Group in fiscal 2025, with total compensation of $5,929,612.

How does Newmark Group's chief executive pay compare to its disclosed peer group?

As disclosed, Barry Gosin's total compensation ranked at the 13th percentile of Newmark Group's disclosed peer group.

What is Newmark Group's CEO-to-median employee pay ratio?

As disclosed, Newmark Group's CEO-to-median employee pay ratio was 32:1.

How did shareholders vote on Newmark Group's executive compensation?

As disclosed, 84.74% of shareholders supported Newmark Group's executive compensation in the latest say-on-pay vote.

How much does Newmark Group spend in total on board compensation for fiscal 2025?

As disclosed, Newmark Group reported total board compensation of $703,000 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 officer	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension / NQDC	All other	Total
Howard Lutnick	$136,986	$0	$5,792,626	$0	$0	$0	$0	$5,929,612
Former Executive Chairman
Luis Alvarado	953,846	0	—	—	2,150,000	0	0	3,103,846
Chief Operating Officer
Barry Gosin	1,000,000	1,500,000	0	0	0	0	168,848	2,668,848
Chief Executive Officer
Michael Rispoli	850,000	0	0	0	1,500,000	0	0	2,350,000
Chief Financial Officer
Stephen Merkel	500,000	—	—	0	1,300,000	0	0	1,800,000
Executive Vice President and Chief Legal 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
Howard Lutnick	$5,929,612	$20,000,000	$20,000,000	↓ −14,070,388
Luis Alvarado	3,103,846	—	—	—
Barry Gosin	2,668,848	27,659,664	47,738,735	↓ −24,990,816
Michael Rispoli	2,350,000	1,450,000	1,350,000	↑ +900,000
Stephen Merkel	1,800,000	1,650,000	1,500,000	↑ +150,000

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 integrate compensation with the achievement of short- and long-term business objectives, attract and retain high-quality executive officers, and reward superior performance. The program utilizes a mix of fixed and variable cash and non-cash compensation, with a focus on long-term stockholder value alignment through equity and partnership awards rather than short-term stock price performance.

CEO STI target (% of salary)	—
CEO LTI target (% of salary)	—
Independent consultant	Korn Ferry
Clawback policy	true
Anti-hedging	true
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
Barry Gosin	RSU	2024-10-01	—	—	1,694,915	—	$20,000,000

Vehicle mix — grant-date fair value by award type

Named executive officer	Time-vested (RSU)	Performance-vested (PSU)	Options / SARs	% performance-vested
Barry Gosin	$20,000,000	$0	$0	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
Luis Alvarado	RSU	3,887	—	—
Michael Rispoli	RSU	642,837	—	11,146,794

Director compensation

Director	Cash fees	Stock awards	Option awards	Non-equity incentive	All other	Total
Kenneth A. McIntyreIndependent · Compensation	$206,000	$50,000	$0	$0	$0	$256,000
Virginia S. BauerIndependent · Compensation (Chair)	181,000	50,000	0	0	0	231,000
Jay ItzkowitzIndependent · Compensation	166,000	50,000	0	0	0	216,000

Board fee structure and ownership guideline

Annual cash retainer	$100,000
Annual equity retainer	$50,000
Per board meeting fee	—
Committee chair fees (audit / comp / nom-gov)	—
Stock ownership guideline	—

Total cost of the board

Component	FY2025
Cash retainers and fees	$553,000
Equity awards (grant-date value)	$150,000
All other compensation	$0
Total cost of the board	$703,000

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

Peer group, and who names Newmark as a peer

Companies that benchmark against NMRK

5 companies name NMRK as a compensation peer

Each company listed discloses NMRK 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 NMRK 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.

CWK Cushman & Wakefield plcJLL Jones Lang LaSalle IncorporatedMMI Marcus & Millichap Inc.CIGI Colliers International Group Inc.CBRE CBRE Group, Inc.Z Zillow Group, Inc.RMAX RE/MAX Holdings, Inc.OPEN Opendoor Technologies Inc.FSV FirstService CorporationSVS Savills plcCOMP Compass, Inc.

Peer reciprocity

Of the companies Newmark Group names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

✓ Cushman & Wakefield plc (CWK)³⁵— Jones Lang LaSalle Incorporated (JLL)³⁶✓ Marcus & Millichap Inc. (MMI)³⁷ Colliers International Group Inc. (CIGI)✓ CBRE Group, Inc. (CBRE)³⁸— Zillow Group, Inc. (Z)³⁹— RE/MAX Holdings, Inc. (RMAX)⁴⁰— Opendoor Technologies Inc. (OPEN)⁴¹ FirstService Corporation (FSV) Savills plc (SVS)— Compass, Inc. (COMP)⁴²

Reciprocity shown where the peer’s own current proxy has been read — each mark is cited in the register to that peer’s filing. A dash means the peer’s current proxy was read and names no reciprocal group including Newmark Group.

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	Opendoor Technologies Inc.	2025	Kaz Nejatian	$0	$741,137,105	$0	$0	$741,137,105
2	Cbre Group, Inc.	2025	Robert Sulentic	1,350,000	19,023,324	0	3,638,824	24,325,039
3	Jones Lang LaSalle Incorporated	2025	Christian Ulbrich	1,042,889	9,930,776	—	3,666,000	14,675,352
4	Compass, Inc.	2025	Robert Reffkin	900,000	7,955,210	0	1,350,000	10,656,460
5	Cushman & Wakefield plc	2025	Michelle MacKay	1,243,269	5,687,408	0	2,500,000	9,469,699
6	Zillow Group, Inc.	2025	Jeremy Wacksman	850,266	4,006,800	2,249,536	0	7,138,557
7	Marcus & Millichap Inc.	2025	Hessam Nadji	700,000	3,495,954	0	1,749,310	6,273,083
8	Newmark Group	2025	Barry Gosin	1,000,000	0	0	0	2,668,848
9	RE/MAX Holdings, Inc.	2024	Erik Carlson	825,000	0	0	972,102	1,812,352
—	Colliers International Group Inc.	—	—	—	—	—	—	not in coverage universe
—	FirstService Corporation	—	—	—	—	—	—	not in coverage universe
—	Savills plc	—	—	—	—	—	—	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

Company	Annual incentive payout	Long-term vehicle mix	PSU measures include TSR	Compensation consultant
Newmark Group	not disclosed	not disclosed	not disclosed	Korn Ferry
Cbre Group, Inc.	134.8%	PSU 34 · RSU 33 · MSU 33	Yes — Relative TSR	Frederic W. Cook & Co., Inc.
Colliers International Group Inc.	not disclosed	not disclosed	not disclosed	not disclosed
Compass, Inc.	200%	not disclosed	No	Semler Brossy Consulting Group, LLC
Cushman & Wakefield plc	100%	PSU 50 · RSU 50	Yes — Relative TSR	Pay Governance LLC (through September 2025); Meridian Compensation Partners (from September 2025 forward)
FirstService Corporation	not disclosed	not disclosed	not disclosed	not disclosed
Jones Lang LaSalle Incorporated	122.2%	PSU 60 · RSU 40	No	Exequity LLP
Marcus & Millichap Inc.	72%	PSU 50 · RSU 50	No	FW Cook
Opendoor Technologies Inc.	not disclosed	not disclosed	No	Compensia, Inc.
RE/MAX Holdings, Inc.	94.3%	PSU 60 · RSU 40	No	Meridian Compensation Partners, LLC
Savills plc	not disclosed	not disclosed	not disclosed	not disclosed
Zillow Group, Inc.	not disclosed	not disclosed	not disclosed	Equilar

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	2026-09-16	267,425,823	48,159,238	727,528	84.74%	Passed
2025	2025-12-30	245,525,288	71,333,000	601,267	77.49%	Passed
2024	2024-10-17	221,810,165	81,635,660	793,264	73.1%	Passed
2023	2023-10-05	254,315,663	49,083,585	2,361,500	83.17%	Passed
2022	2022-09-28	230,008,352	80,831,346	433,210	73.89%	Passed
2021	2021-12-17	236,065,207	80,503,956	3,856,242	73.67%	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	2026-09-16	84.74%^a
2025	2025-12-30	77.49%^b
2024	2024-10-17	73.1%^c

a. Voting standard not stated in the filing.

b. Approved under the standard stated in the filing — “Withheld votes will have no effect on the vote on Proposal 1, and abstentions will have no effect on the votes on Proposals 2 and 3.”.

c. Approved under the standard stated in the filing — “Withheld votes will have no effect on the vote on Proposal 1, and abstentions will have no effect on the votes on 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.

CEO pay ratio

Ratio (CEO : median employee)	32 : 1
CEO total compensation	$2,668,848
Median employee compensation	$82,853

Insider trades since the proxy

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

Insider	Role	Transaction date	Code	Shares	Price	Value	Security	Source
Barry Gosin	Chief Executive Officer	2026-08-17	D	3,571,183	$15	$54,031,999	Common	Form 4 ↗
Stephen Merkel	Director	2026-08-27	D	10,349	16	160,823	Common	Form 4 ↗
Stephen Merkel	Director	2026-08-27	A	41,963	—	—	Common	Form 4 ↗
Luis Alvarado	Chief Operating Officer	2026-09-16	D	16,448	14	233,397	Common	Form 4 ↗
Virginia S. Bauer	Director	2026-09-16	A	3,524	0	0	RSU	Form 4 ↗
Michael Rispoli	Chief Financial Officer	2026-09-16	D	25,000	14	354,750	Common	Form 4 ↗
Kenneth A. McIntyre	Director	2026-09-16	A	3,524	0	0	RSU	Form 4 ↗
Jay Itzkowitz	Director	2026-09-16	A	3,524	0	0	RSU	Form 4 ↗
Michael Rispoli	Chief Financial Officer	2026-10-01	D	7,293	13	92,256	Common	Form 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

Sources (42 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, Howard Lutnick. DEF 14A, filed 2026-08-07. Section “Executive Compensation”. As printed: 5,929,612. View filing ↗
Section 01, Luis Alvarado. DEF 14A, filed 2026-08-07. Section “Executive Compensation”. As printed: 3,103,846. View filing ↗
Section 01, Barry Gosin. DEF 14A, filed 2026-08-07. Section “Executive Compensation”. As printed: 2,668,848. View filing ↗
Section 01, Michael Rispoli. DEF 14A, filed 2026-08-07. Section “Executive Compensation”. As printed: 2,350,000. View filing ↗
Section 01, Stephen Merkel. DEF 14A, filed 2026-08-07. Section “Executive Compensation”. As printed: 1,800,000. View filing ↗
Section 03, Barry Gosin RSU. DEF 14A, filed 2026-08-07. Section “Summary Compensation Table” · grants of plan-based awards table. View filing ↗
Section 07, pay ratio. DEF 14A, filed 2026-08-07. Section “CEO Pay Ratio”. As printed: 32 : 1. View filing ↗
Section 08, Kenneth A. McIntyre. DEF 14A, filed 2026-08-07. Section “Director Compensation”. As printed: 256,000. View filing ↗
Section 08, Virginia S. Bauer. DEF 14A, filed 2026-08-07. Section “Director Compensation”. As printed: 231,000. View filing ↗
Section 08, Jay Itzkowitz. DEF 14A, filed 2026-08-07. Section “Director Compensation”. As printed: 216,000. View filing ↗
Section 02, Barry Gosin 2026-08-17. Form 4, filed 2026-08-17. Insider equity transaction reported since the proxy statement. View filing ↗
Section 02, Stephen Merkel 2026-08-27. Form 4, filed 2026-08-28. Insider equity transaction reported since the proxy statement. View filing ↗
Section 02, Stephen Merkel 2026-08-27. Form 4, filed 2026-08-28. Insider equity transaction reported since the proxy statement. View filing ↗
Section 02, Luis Alvarado 2026-09-16. Form 4, filed 2026-09-17. Insider equity transaction reported since the proxy statement. View filing ↗
Section 02, Virginia S. Bauer 2026-09-16. Form 4, filed 2026-09-17. Insider equity transaction reported since the proxy statement. View filing ↗
Section 02, Michael Rispoli 2026-09-16. Form 4, filed 2026-09-17. Insider equity transaction reported since the proxy statement. View filing ↗
Section 02, Kenneth A. McIntyre 2026-09-16. Form 4, filed 2026-09-17. Insider equity transaction reported since the proxy statement. View filing ↗
Section 02, Jay Itzkowitz 2026-09-16. Form 4, filed 2026-09-17. Insider equity transaction reported since the proxy statement. View filing ↗
Section 02, Michael Rispoli 2026-10-01. Form 4, filed 2026-10-01. Insider equity transaction reported since the proxy statement. View filing ↗
Section 06, 2026 vote. Form 8-K, filed 2026-09-16. Item 5.07 · say-on-pay result. As reported: 84.74% (votes for as printed: 267,425,823). View filing ↗
Section 06, 2025 vote. Form 8-K, filed 2025-12-30. Item 5.07 · say-on-pay result. As reported: 77.49% (votes for as printed: 245,525,288). View filing ↗
Section 06, 2024 vote. Form 8-K, filed 2024-10-18. Item 5.07 · say-on-pay result. As reported: 73.1% (votes for as printed: 221,810,165). 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 553,000 + equity 150,000 + all other 0 = 703,000, summed across the director compensation table rows.
Opendoor Technologies Inc., Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in Opendoor Technologies Inc.'s own proxy. As printed: 741,137,105. View filing ↗
Cbre Group, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-03. CEO total compensation as printed in Cbre Group, Inc.'s own proxy. As printed: 24,325,039. View filing ↗
Jones Lang LaSalle Incorporated, Section 10b CEO total. DEF 14A, filed 2026-04-17. CEO total compensation as printed in Jones Lang LaSalle Incorporated's own proxy. As printed: 14,675,352. View filing ↗
Compass, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-03. CEO total compensation as printed in Compass, Inc.'s own proxy. As printed: 10,656,460. View filing ↗
Cushman & Wakefield plc, Section 10b CEO total. DEF 14A, filed 2026-04-03. CEO total compensation as printed in Cushman & Wakefield plc's own proxy. As printed: 9,469,699. View filing ↗
Zillow Group, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-15. CEO total compensation as printed in Zillow Group, Inc.'s own proxy. As printed: 7,138,557. View filing ↗
Marcus & Millichap Inc., Section 10b CEO total. DEF 14A, filed 2026-03-18. CEO total compensation as printed in Marcus & Millichap Inc.'s own proxy. As printed: 6,273,083. View filing ↗
Newmark Group (subject), Section 10b CEO total. DEF 14A, filed 2026-08-07. CEO total compensation as printed in Newmark Group's own proxy. As printed: 2,668,848. View filing ↗
RE/MAX Holdings, Inc., Section 10b CEO total. DEF 14A, filed 2025-04-03. CEO total compensation as printed in RE/MAX Holdings, Inc.'s own proxy. As printed: 1,812,352. View filing ↗
Section 10a, Cushman & Wakefield plc reciprocity. DEF 14A. Cushman & Wakefield plc names Newmark Group in its own disclosed peer group (read from its most recent proxy). View filing ↗
Section 10a, Jones Lang LaSalle Incorporated reciprocity. DEF 14A. Jones Lang LaSalle Incorporated's most recent proxy was read; its disclosed peer group does not include Newmark Group. View filing ↗
Section 10a, Marcus & Millichap Inc. reciprocity. DEF 14A. Marcus & Millichap Inc. names Newmark Group in its own disclosed peer group (read from its most recent proxy). View filing ↗
Section 10a, CBRE Group, Inc. reciprocity. DEF 14A. CBRE Group, Inc. names Newmark Group in its own disclosed peer group (read from its most recent proxy). View filing ↗
Section 10a, Zillow Group, Inc. reciprocity. DEF 14A. Zillow Group, Inc.'s most recent proxy was read; its disclosed peer group does not include Newmark Group. View filing ↗
Section 10a, RE/MAX Holdings, Inc. reciprocity. DEF 14A. RE/MAX Holdings, Inc.'s most recent proxy was read; its disclosed peer group does not include Newmark Group. View filing ↗
Section 10a, Opendoor Technologies Inc. reciprocity. DEF 14A. Opendoor Technologies Inc.'s most recent proxy was read; its disclosed peer group does not include Newmark Group. View filing ↗
Section 10a, Compass, Inc. reciprocity. DEF 14A. Compass, Inc.'s most recent proxy was read; its disclosed peer group does not include Newmark Group. View filing ↗