Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-05-12

AutoNation (AN)

Fiscal year 2025 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.

$34,391,069
Michael Manley total, FY2025
99th
CEO pay percentile vs peers
486:1
CEO-to-median pay ratio
94.43%
Say-on-pay support, latest vote
Companies that benchmark against AN
3 companies name AN as a compensation peer

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

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Michael Manley$1,425,000$0$28,064,546$0$4,647,956$0$253,567$34,391,069
Chief Executive Officer and Director
Thomas Szlosek852,50002,844,64001,389,8450300,5365,387,521
Executive Vice President and Chief Financial Officer
Gianluca Camplone804,62502,275,69301,180,558032,9444,293,820
Chief Operating Officer, AutoNation Parts, and Executive Vice President, Business Development
Jeff Parent820,83401,820,67601,317,085036,6663,995,261
Chief Operating Officer
C. Coleman Edmunds717,10301,592,9920876,869034,9383,221,902
Executive Vice President, General Counsel and Corporate Secretary

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 FY20242025
Michael Manley$34,391,069$15,928,029$13,588,817+18,463,040
Thomas Szlosek5,387,521
Gianluca Camplone4,293,8204,043,563+250,257
Jeff Parent3,995,261
C. Coleman Edmunds3,221,9023,010,653+211,249

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

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Michael ManleyRSU2025-03-0125,430$4,459,913
Jeff ParentPSU2025-03-011,0942,7375,474480,015
Michael ManleyPSU2025-03-0126,873134,365134,36515,376,731
Thomas SzlosekRSU2025-03-015,701999,841
Jeff ParentRSU2025-03-013,649639,962
Gianluca CamploneRSU2025-03-014,561799,908
C. Coleman EdmundsRSU2025-03-013,192559,813
Michael ManleyPSU2025-03-017,62919,07338,1464,882,879
Michael ManleyPSU2025-03-017,62919,07338,1463,345,023
C. Coleman EdmundsPSU2025-03-019582,3954,790420,035
Gianluca CamplonePSU2025-03-011,3683,4216,842599,975
Thomas SzlosekPSU2025-03-011,7104,2778,554750,100
Jeff ParentPSU2025-03-011,0942,7375,474700,699
Thomas SzlosekPSU2025-03-011,7104,2768,5521,094,699
Gianluca CamplonePSU2025-03-011,3683,4216,842875,810
C. Coleman EdmundsPSU2025-03-019582,3954,790613,144
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Michael Manley$4,459,913$23,604,633$084.1%
Jeff Parent639,9621,180,714064.9%
Thomas Szlosek999,8411,844,799064.9%
Gianluca Camplone799,9081,475,785064.8%
C. Coleman Edmunds559,8131,033,179064.9%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
C. Coleman EdmundsPSU2,068$427,001
Gianluca CamploneRSU3,509724,538
C. Coleman EdmundsRSU1,360280,813
Jeff ParentPSU28859,466
Thomas SzlosekRSU9,8702,037,958
Michael ManleyRSU7,6291,575,236
Jeff ParentRSU5,9221,222,775
C. Coleman EdmundsRSU958197,808
Jeff ParentRSU1,094225,889
Gianluca CamploneRSU8,7421,805,048
Gianluca CamploneRSU1,368282,465
Gianluca CamplonePSU1,943401,191
Jeff ParentRSU2,631543,249
Michael ManleyRSU15,8793,278,696
Thomas SzlosekRSU6,3901,319,407
Gianluca CamploneRSU4,561941,755
Michael ManleyRSU31,4766,499,164
Thomas SzlosekRSU4,386905,621
Michael ManleyRSU31,4786,499,577
Michael ManleyRSU35,7287,377,117
Jeff ParentRSU1,298268,011
C. Coleman EdmundsRSU3,072634,307
C. Coleman EdmundsRSU6,1201,263,658
C. Coleman EdmundsRSU2,456507,114
Michael ManleyRSU26,8735,548,737
Michael ManleyRSU25,4305,250,786
Gianluca CamploneRSU8,7441,805,461
Michael ManleyPSU6,9951,444,328
Thomas SzlosekRSU5,7011,177,142
C. Coleman EdmundsRSU5,5281,141,421
C. Coleman EdmundsRSU5,5261,141,008
Jeff ParentRSU3,649753,446
Thomas SzlosekPSU3,194659,497
Thomas SzlosekRSU1,711353,287
Gianluca CamploneRSU7,8961,630,366
Thomas SzlosekRSU1,710353,081
Thomas SzlosekRSU6,3881,318,994
05

Incentive-plan design — the Compensation Discussion & Analysis

Our executive compensation programs are administered by the Committee. The Committee's fundamental philosophy is to closely link executive compensation with the achievement of performance goals tied to key metrics and to create an owner-oriented culture through our executive compensation programs.

CEO STI target (% of salary)200%
CEO LTI target (% of salary)
Independent consultantMeridian Compensation Partners, LLC
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingfalse
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-04-2927,776,1851,616,32320,72794.43%Passed
20252025-04-2332,388,601721,95450,22497.67%Passed
20242024-04-2434,730,203797,40684,91297.52%Passed
20232023-04-1940,559,838587,89478,17298.57%Passed
20202020-04-2276,350,9301,778,26033,71397.68%Passed
20172017-04-1988,417,0061,419,57730,81698.42%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
20262026-04-2994.43%a
20252025-04-2397.67%b
20242024-04-2497.52%c

a. Approved under the standard stated in the filing — “For Proposals 2, 3, 4, 5, and 6, abstentions will be counted as present and entitled to vote and will have the same effect as negative votes.”.

b. Approved under the standard stated in the filing — “For Proposals 2, 3, 4, and 5, abstentions will be counted as present and entitled to vote and will have the same effect as negative votes.”.

c. Approved under the standard stated in the filing — “For Proposal 4, abstentions and broker non-votes will have the same effect as negative votes.”.

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)486 : 1
CEO total compensation$34,391,069
Median employee compensation$70,766
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Rick L. BurdickIndependent · Board Chair$250,000$249,909$0$0$499,909
David B. EdelsonIndependent · Audit (Chair)75,000249,90900324,909
G. Mike MikanIndependent · Compensation (Chair)65,000249,90900314,909
Jacqueline A. TravisanoIndependent · Corporate Governance and Nominating (Chair)65,000249,90900314,909
Robert R. GruskyIndependent · Corporate Governance and Nominating50,000249,90900299,909
Norman K. JenkinsIndependent · Compensation50,000249,90900299,909
Lisa Lutoff-PerloIndependent · Audit · Compensation50,000249,90900299,909
Claire BennettIndependent · Audit50,000249,90900299,909
Michael ManleyEmployee director000000
09

Board fee structure and ownership guideline

Annual cash retainer$50,000
Annual equity retainer$250,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)25,000 / 15,000 / 15,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$655,000
Equity awards (grant-date value)$1,999,272
All other compensation$0
Total cost of the board$2,654,272

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.

10a

Peer reciprocity

Of the companies AutoNation 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.

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 AutoNation.

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
1AutoNation2025Michael Manley$1,425,000$28,064,546$0$4,647,956$34,391,069
2Ross Stores, Inc.2025James Conroy1,450,00010,650,10004,233,13017,406,705
3Best Buy Co., Inc.2026Corie Barry1,300,00013,699,94702,185,82017,346,126
4Dollar Tree, Inc.2025Michael Creedon, Jr.1,300,0009,443,15503,166,80014,775,215
5CarMax, Inc.2026William Nash927,2166,024,6955,249,987487,22614,245,563
6AutoZone, Inc.2025Philip Daniele III1,000,00027,7547,198,7891,257,7519,636,414
7Dollar General Corporation2025Todd Vasos1,608,395006,020,1678,163,197

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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
AutoNation163%PSU 60 · RSU 40Yes — Relative TSRMeridian Compensation Partners, LLC
AutoZone, Inc.96.75%Options 100not disclosedPearl Meyer
Best Buy Co., Inc.84.07%PSU 50 · RSU 50Yes — total shareholder return (TSR) relative to the S&P 500 Index constituentsFrederic W. Cook & Co., Inc. (FW Cook)
CarMax, Inc.30%PSU 50 · Options 50NoSemler Brossy
Dollar General Corporation182.4%RSU 50 · PSU 50NoPearl Meyer
Dollar Tree, Inc.162.4%PSU 50 · RSU 50NoMeridian Compensation Partners
Ross Stores, Inc.145.97%not disclosedNoExequity, LLP

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.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Michael ManleyDEF 14A2026-03-170001628280-26-018696Section “Summary Compensation Table” · page 29. As printed: 34,391,069. Filing ↗machine: span 461406–461416
2Section 01, Thomas SzlosekDEF 14A2026-03-170001628280-26-018696Section “Summary Compensation Table” · page 29. As printed: 5,387,521. Filing ↗machine: span 470358–470367
3Section 01, Gianluca CamploneDEF 14A2026-03-170001628280-26-018696Section “Summary Compensation Table” · page 29. As printed: 4,293,820. Filing ↗machine: span 484280–484289
4Section 01, Jeff ParentDEF 14A2026-03-170001628280-26-018696Section “Summary Compensation Table” · page 29. As printed: 3,995,261. Filing ↗machine: span 478335–478344
5Section 01, C. Coleman EdmundsDEF 14A2026-03-170001628280-26-018696Section “Summary Compensation Table” · page 29. As printed: 3,221,902. Filing ↗machine: span 493147–493156
6Section 03, Michael Manley RSUDEF 14A2026-03-170001628280-26-018696Section “Grants of Plan-Based Awards in Fiscal Year 2025” · grants of plan-based awards table. Filing ↗machine: t27 · r3 · c12 · span 526218–526227
7Section 03, Jeff Parent PSUDEF 14A2026-03-170001628280-26-018696Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
8Section 03, Michael Manley PSUDEF 14A2026-03-170001628280-26-018696Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 509290–509300
9Section 03, Thomas Szlosek RSUDEF 14A2026-03-170001628280-26-018696Section “Grants of Plan-Based Awards in Fiscal Year 2025” · grants of plan-based awards table. Filing ↗machine: t27 · r9 · c12 · span 540355–540362
10Section 03, Jeff Parent RSUDEF 14A2026-03-170001628280-26-018696Section “Grants of Plan-Based Awards in Fiscal Year 2025” · grants of plan-based awards table. Filing ↗machine: t27 · r13 · c12 · span 550084–550091
11Section 03, Gianluca Camplone RSUDEF 14A2026-03-170001628280-26-018696Section “Grants of Plan-Based Awards in Fiscal Year 2025” · grants of plan-based awards table. Filing ↗machine: t27 · r17 · c12 · span 560698–560705
12Section 03, C. Coleman Edmunds RSUDEF 14A2026-03-170001628280-26-018696Section “Grants of Plan-Based Awards in Fiscal Year 2025” · grants of plan-based awards table. Filing ↗machine: t27 · r21 · c12 · span 570438–570445
13Section 03, Michael Manley PSUDEF 14A2026-03-170001628280-26-018696Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
14Section 03, Michael Manley PSUDEF 14A2026-03-170001628280-26-018696Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
15Section 03, C. Coleman Edmunds PSUDEF 14A2026-03-170001628280-26-018696Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
16Section 03, Gianluca Camplone PSUDEF 14A2026-03-170001628280-26-018696Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
17Section 03, Thomas Szlosek PSUDEF 14A2026-03-170001628280-26-018696Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
18Section 03, Jeff Parent PSUDEF 14A2026-03-170001628280-26-018696Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
19Section 03, Thomas Szlosek PSUDEF 14A2026-03-170001628280-26-018696Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
20Section 03, Gianluca Camplone PSUDEF 14A2026-03-170001628280-26-018696Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
21Section 03, C. Coleman Edmunds PSUDEF 14A2026-03-170001628280-26-018696Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
22Section 07, pay ratioDEF 14A2026-03-170001628280-26-018696Section “CEO Pay Ratio”. As printed: 486 : 1. Filing ↗machine: span 809579–809582
23Section 08, Rick L. BurdickDEF 14A2026-03-170001628280-26-018696Section “Director Compensation”. As printed: 499,909. Filing ↗machine: t5 · r2 · c5 · span 209412–209419
24Section 08, David B. EdelsonDEF 14A2026-03-170001628280-26-018696Section “Director Compensation”. As printed: 324,909. Filing ↗machine: t5 · r4 · c5 · span 212596–212603
25Section 08, G. Mike MikanDEF 14A2026-03-170001628280-26-018696Section “Director Compensation”. As printed: 314,909. Filing ↗machine: t5 · r8 · c5 · span 218967–218974
26Section 08, Jacqueline A. TravisanoDEF 14A2026-03-170001628280-26-018696Section “Director Compensation”. As printed: 314,909. Filing ↗machine: t5 · r9 · c5 · span 220755–220762
27Section 08, Robert R. GruskyDEF 14A2026-03-170001628280-26-018696Section “Director Compensation”. As printed: 299,909. Filing ↗machine: t5 · r5 · c5 · span 214189–214196
28Section 08, Norman K. JenkinsDEF 14A2026-03-170001628280-26-018696Section “Director Compensation”. As printed: 299,909. Filing ↗machine: t5 · r6 · c5 · span 215783–215790
29Section 08, Lisa Lutoff-PerloDEF 14A2026-03-170001628280-26-018696Section “Director Compensation”. As printed: 299,909. Filing ↗machine: t5 · r7 · c5 · span 217377–217384
30Section 08, Claire BennettDEF 14A2026-03-170001628280-26-018696Section “Director Compensation”. As printed: 299,909. Filing ↗machine: t5 · r3 · c5 · span 211003–211010
31Section 08, Michael ManleyDEF 14A2026-03-170001628280-26-018696Section “Director Compensation”. As printed: 0. Filing ↗
32Section 06, 2026 voteForm 8-K2026-04-290001628280-26-028353Item 5.07 · say-on-pay result. As reported: 94.43% (votes for as printed: 27,776,185). Filing ↗
33Section 06, 2025 voteForm 8-K2025-04-240000350698-25-000076Item 5.07 · say-on-pay result. As reported: 97.67% (votes for as printed: 32,388,601). Filing ↗
34Section 06, 2024 voteForm 8-K2024-04-250000350698-24-000065Item 5.07 · say-on-pay result. As reported: 97.52% (votes for as printed: 34,730,203). Filing ↗
35Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
36Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
37Section 09b board cost (computed)ComputedcomputedCash 655,000 + equity 1,999,272 + all other 0 = 2,654,272, summed across the director compensation table rows.machine: formula: Σ = 2,654,272
38AutoNation (subject), Section 10b CEO totalDEF 14A2026-03-170001628280-26-018696CEO total compensation as printed in AutoNation's own proxy. As printed: 34,391,069. Filing ↗machine: span 461406–461416
39Ross Stores, Inc., Section 10b CEO totalDEF 14A2026-04-070000745732-26-000013CEO total compensation as printed in Ross Stores, Inc.'s own proxy. As printed: 17,406,705. Filing ↗machine: span 525142–525152
40Best Buy Co., Inc., Section 10b CEO totalDEF 14A2026-04-300001140361-26-018265CEO total compensation as printed in Best Buy Co., Inc.'s own proxy. As printed: 17,346,126. Filing ↗machine: r2 · c19 · span 1511832–1511842
41Dollar Tree, Inc., Section 10b CEO totalDEF 14A2026-05-010001104659-26-053500CEO total compensation as printed in Dollar Tree, Inc.'s own proxy. As printed: 14,775,215. Filing ↗machine: t44 · r1 · c25 · span 1003747–1003757
42CarMax, Inc., Section 10b CEO totalDEF 14A2026-05-120001170010-26-000045CEO total compensation as printed in CarMax, Inc.'s own proxy. As printed: 14,245,563. Filing ↗machine: r13 · c45 · span 642071–642081
43AutoZone, Inc., Section 10b CEO totalDEF 14A2025-10-280001104659-25-103210CEO total compensation as printed in AutoZone, Inc.'s own proxy. As printed: 9,636,414. Filing ↗machine: t176 · span 1797509–1797518
44Dollar General Corporation, Section 10b CEO totalDEF 14A2026-04-070001104659-26-040394CEO total compensation as printed in Dollar General Corporation's own proxy. As printed: 8,163,197. Filing ↗machine: r1 · c48 · span 767818–767827
45Section 10a, CarMax, Inc. reciprocityDEF 14A0001170010-26-000045CarMax, Inc.'s most recent proxy was read; its disclosed peer group does not include AutoNation. Filing ↗
46Section 10a, Ross Stores, Inc. reciprocityDEF 14A0000745732-26-000013Ross Stores, Inc.'s most recent proxy was read; its disclosed peer group does not include AutoNation. Filing ↗
47Section 10a, Dollar Tree, Inc. reciprocityDEF 14A0001104659-26-053500Dollar Tree, Inc.'s most recent proxy was read; its disclosed peer group does not include AutoNation. Filing ↗
48Section 10a, Best Buy Co., Inc. reciprocityDEF 14A0001140361-26-018265Best Buy Co., Inc.'s most recent proxy was read; its disclosed peer group does not include AutoNation. Filing ↗
49Section 10a, Dollar General Corporation reciprocityDEF 14A0001104659-26-040394Dollar General Corporation's most recent proxy was read; its disclosed peer group does not include AutoNation. Filing ↗
50Section 10a, AutoZone, Inc. reciprocityDEF 14A0001104659-25-103210AutoZone, Inc.'s most recent proxy was read; its disclosed peer group does not include AutoNation. Filing ↗