Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-29

American Eagle Outfitters (AEO)

CEO Jay Schottenstein was paid $12,662,838 in fiscal year 2025, ↓ down 15.5% from fiscal year 2024, the 33rd percentile of its disclosed peer group (SEC filing 0001193125-26-227158 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$12,662,838 ↓
Jay Schottenstein total, FY2025
33rd
CEO pay percentile vs peers
1,691:1
CEO-to-median pay ratio
96.61%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Jay Schottenstein (Chief Executive Officer), FY2025 total compensation $12,662,838 (base salary $1,750,000) [exec_comp, SEC accession 0001193125-26-227158, filed 2026-05-15]

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AEO's next annual pay disclosure, estimated May 15, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Jay Schottenstein$1,750,000$0$6,650,011$2,850,001$1,071,875$0$340,951$12,662,838
Chief Executive Officer
Jennifer Foyle1,500,00003,422,9951,467,002787,500071,8107,249,307
President, Executive Creative Officer AE and Aerie
Michael Mathias900,00001,308,990561,000315,000011,8273,096,817
Chief Financial Officer
Marisa Baldwin625,0000689,499295,499175,000073,0721,858,070
Chief Human Resources Officer
Beth Henke496,9040509,99289,999113,046012,5301,222,471
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 officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Jay Schottenstein$12,662,838$14,980,527$16,793,219↓ −2,317,689
Jennifer Foyle7,249,3078,942,96710,374,152↓ −1,693,660
Michael Mathias3,096,8173,772,9614,337,039↓ −676,144
Marisa Baldwin1,858,0702,238,0022,448,756↓ −379,932
Beth Henke1,222,471———

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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Companies that benchmark against AEO
27 companies name AEO as a compensation peer

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

01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Cary D. McMillanIndependent Director$392,500
David M. SableIndependent Director$365,000
Deborah A. HenrettaIndependent Director$360,000
Janice E. PageIndependent Director$390,750
Noel J. SpiegelLead Independent Director$475,000
Stephanie L. PuglieseFormer director (through FY2026)$258,700
Sujatha ChandrasekaranIndependent Director$365,000
02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Marisa BaldwinOption28,24913.17—
Jay SchottensteinRSU296,376—4,783,510
Michael MathiasRSU33,047—533,376
Marisa BaldwinRSU2,686—43,356
Jennifer FoyleRSU16,522—266,673
Jay SchottensteinRSU211,571—3,414,757
Michael MathiasRSU6,197—100,025
Jay SchottensteinRSU167,883—2,709,626
Michael MathiasRSU17,053—275,236
Jennifer FoyleRSU149,973—2,420,561
Marisa BaldwinRSU8,283—133,687
Jennifer FoyleRSU108,498—1,751,151
Jay SchottensteinRSU88,456—1,427,686
Jennifer FoyleRSU86,415—1,394,734
Michael MathiasRSU40,686—656,678
Jay SchottensteinRSU79,884—1,289,325
Jay SchottensteinRSU32,220—520,031
Michael MathiasRSU57,133—922,120
Marisa BaldwinRSU26,781—432,245
Jennifer FoyleRSU44,761—722,439
Michael MathiasOption52,87524.37—
Jennifer FoyleRSU41,119—663,656
Marisa BaldwinRSU17,631—284,566
Marisa BaldwinRSU17,407—280,951
Marisa BaldwinOption11,02417.24—
Michael MathiasRSU15,725—253,797
Marisa BaldwinRSU7,995—129,039
Jay SchottensteinOption132,28317.24—
Jay SchottensteinOption312,61813.17—
Jay SchottensteinOption268,61524.37—
Michael MathiasOption25,43917.24—
Michael MathiasOption60,26413.17—
Marisa BaldwinOption27,85124.37—
Jennifer FoyleOption67,83817.24—
Jennifer FoyleOption158,19213.17—
Jennifer FoyleOption138,26624.37—
05

Incentive-plan design — the Compensation Discussion & Analysis

AEO strives to maintain a director compensation program that aligns our non-employee directors’ interests with the interests of our stockholders and to provide market-competitive compensation commensurate with the work required to serve on our Board.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantFW Cook
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-26135,053,3474,601,755138,53096.61%Passed
20252025-06-25143,329,3905,855,515197,25495.95%Passed
20242024-06-27168,771,3607,969,107123,54495.49%Passed
20232023-06-07151,626,8718,714,581118,41694.5%Passed
20222022-06-08124,121,31410,969,493540,38791.88%Passed
20212021-06-0383,079,46565,356,61880,31655.97%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
20262026-06-2696.61%a
20252025-06-2595.95%b
20242024-06-2795.49%c

a. Approved under the standard stated in the filing — “Voting Options Board Recommendation Vote Required to Adopt the Proposal Effect of Abstentions (1) Effect of Broker Non-Votes (2) Proposal 1 - Election of Class I Director "For," "Against," or "Abstain" for each nominee FOR the nominee Majority of the votes cast None None Proposal 2 - Ratification of the Appointment of EY "For," "Against," or "Abstain" FOR Majority of the shares of common stock present at the meeting, in person or by proxy, and entitled to vote on Proposal 2 Abstentions are treated as votes "against" Brokers have discretion to vote on Proposal 2 Proposal 3 - Fiscal 2025 Say-on-Pay Vote "For," "Against," or "Abstain" FOR Majority of the shares of common stock present at the meeting, in person or by proxy, and entitled to vote on Proposal 3 Abstentions are treated as votes "against" None Proposal 4 - Approval of an Amendment and Restatement of 2023 Stock Award and Incentive Plan "For," "Against," or "Abstain" FOR Majority of the shares of common stock present at the meeting, in person or by proxy, and entitled to vote on Proposal 4 Abstentions are treated as votes "against" None (1) Under the DGCL, shares that abstain with respect to Proposals 2, 3, and 4 constitute shares that are present and entitled to vote and, accordingly, have the practical effect of being voted "against" such items.”.

b. Approved under the standard stated in the filing — “"Against," or "Abstain" FOR Majority of the shares of common stock present at the meeting, in person or by proxy, and entitled to vote on Proposal 2 Abstentions are treated as votes "against" Brokers have discretion to vote on Item 2 Proposal 3 - Fiscal 2024 Say-on-Pay Vote "For," "Against," or "Abstain" FOR Majority of the shares of common stock present at the meeting, in person or by proxy, and entitled to vote on Proposal 3 Abstentions are treated as votes "against" None (1) Under the DGCL, shares that abstain with respect to Proposals 2 and 3 constitute shares that are present and entitled to vote and, accordingly, have the practical effect of being voted "against any time before it is voted by delivering written notice of revocation to the Company (Attention: Jennifer B.”.

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.

07

CEO pay ratio

Ratio (CEO : median employee)1,691 : 1
CEO total compensation—
Median employee compensation$7,488
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Noel J. SpiegelIndependent · Lead Independent Director · Audit (Chair) · Compensation · Nominating$270,000$200,000——$5,000$475,000
Cary D. McMillanIndependent · Audit · Compensation (Chair) · Nominating190,000200,000——2,500392,500
Janice E. PageIndependent · Audit · Nominating (Chair) · Compensation185,750200,000——5,000390,750
Sujatha ChandrasekaranIndependent · Audit Committee · Compensation Committee · Nominating Committee160,000200,000——5,000365,000
David M. SableIndependent · Audit · Compensation · Nominating160,000200,000——5,000365,000
Deborah A. HenrettaIndependent · Audit · Compensation · Nominating160,000200,000——0360,000
Stephanie L. PuglieseIndependent · Departed during FY98,320133,300——27,080258,700
Jay L. SchottensteinEmployee director · Board Chair—————0
09

Board fee structure and ownership guideline

Annual cash retainer$65,000
Annual equity retainer$200,000
Per board meeting fee$2,500
Committee chair fees (audit / comp / nom-gov)40,000 / 30,000 / 25,000
Stock ownership guideline$5
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,224,070
Equity awards (grant-date value)$1,333,300
All other compensation$49,580
Total cost of the board$2,606,950

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

10

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.

Absolute TSR
10b

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
1American Eagle Outfitters2025Jay Schottenstein$1,750,000$6,650,011$2,850,001$1,071,875$12,662,838

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.

10d

Frequently asked questions

Who was the highest-paid executive at American Eagle Outfitters in fiscal 2025?
As disclosed, Jay Schottenstein (Chief Executive Officer) was the highest-paid executive at American Eagle Outfitters in fiscal 2025, with total compensation of $12,662,838.
How does American Eagle Outfitters's chief executive pay compare to its disclosed peer group?
As disclosed, Jay Schottenstein's total compensation ranked at the 33rd percentile of American Eagle Outfitters's disclosed peer group.
What is American Eagle Outfitters's CEO-to-median employee pay ratio?
As disclosed, American Eagle Outfitters's CEO-to-median employee pay ratio was 1691:1.
How did shareholders vote on American Eagle Outfitters's executive compensation?
As disclosed, 96.61% of shareholders supported American Eagle Outfitters's executive compensation in the latest say-on-pay vote.
How much does American Eagle Outfitters spend in total on board compensation for fiscal 2025?
As disclosed, American Eagle Outfitters reported total board compensation of $2,606,950 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.

11

Source register

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.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Jay SchottensteinDEF 14A2026-05-150001193125-26-227158Section “Executive Compensation”. As printed: 12,662,838. View filing ↗
2Section 01, Jennifer FoyleDEF 14A2026-05-150001193125-26-227158Section “Executive Compensation”. As printed: 7,249,307. View filing ↗
3Section 01, Michael MathiasDEF 14A2026-05-150001193125-26-227158Section “Executive Compensation”. As printed: 3,096,817. View filing ↗
4Section 01, Marisa BaldwinDEF 14A2026-05-150001193125-26-227158Section “Executive Compensation”. As printed: 1,858,070. View filing ↗
5Section 01, Beth HenkeDEF 14A2026-05-150001193125-26-227158Section “Executive Compensation”. As printed: 1,222,471. View filing ↗
6Section 07, pay ratioDEF 14A2026-05-150001193125-26-227158Section “CEO Pay Ratio”. As printed: 1691 : 1. View filing ↗
7Section 08, Noel J. SpiegelDEF 14A2025-05-150001193125-25-120941Section “Director Compensation”. As printed: 475,000. View filing ↗
8Section 08, Cary D. McMillanDEF 14A2025-05-150001193125-25-120941Section “Director Compensation”. As printed: 392,500. View filing ↗
9Section 08, Janice E. PageDEF 14A2025-05-150001193125-25-120941Section “Director Compensation”. As printed: 390,750. View filing ↗
10Section 08, Sujatha ChandrasekaranDEF 14A2025-05-150001193125-25-120941Section “Director Compensation”. As printed: 365,000. View filing ↗
11Section 08, David M. SableDEF 14A2025-05-150001193125-25-120941Section “Director Compensation”. As printed: 365,000. View filing ↗
12Section 08, Deborah A. HenrettaDEF 14A2025-05-150001193125-25-120941Section “Director Compensation”. As printed: 360,000. View filing ↗
13Section 08, Stephanie L. PuglieseDEF 14A2025-05-150001193125-25-120941Section “Director Compensation”. As printed: 258,700. View filing ↗
14Section 08, Jay L. SchottensteinDEF 14A2025-05-150001193125-25-120941Section “Director Compensation”. As printed: 0. View filing ↗
15Section 06, 2026 voteForm 8-K2026-06-290001193125-26-288667Item 5.07 · say-on-pay result. As reported: 96.61% (votes for as printed: 135,053,347). View filing ↗
16Section 06, 2025 voteForm 8-K2025-07-010001193125-25-154105Item 5.07 · say-on-pay result. As reported: 95.95% (votes for as printed: 143,329,390). View filing ↗
17Section 06, 2024 voteForm 8-K2024-07-020001193125-24-174404Item 5.07 · say-on-pay result. As reported: 95.49% (votes for as printed: 168,771,360). View filing ↗
18Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.
19Section 09b board cost (computed)Computed——Cash 1,224,070 + equity 1,333,300 + all other 49,580 = 2,606,950, summed across the director compensation table rows.
20American Eagle Outfitters (subject), Section 10b CEO totalDEF 14A2026-05-150001193125-26-227158CEO total compensation as printed in American Eagle Outfitters's own proxy. As printed: 12,662,838. View filing ↗