CEO Stephen Kramer was paid $5,303,738 in fiscal year 2025, ↑ up 2.9% from fiscal year 2024 (SEC filing 0001193125-26-162582 ↗): 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.
$5,303,738 ↑ Stephen Kramer total, FY2025 | — CEO pay percentile vs peers | — CEO-to-median pay ratio | 89.23% Say-on-pay support, latest vote |
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BFAM's next annual pay disclosure, estimated April 18, 2027.est. Filing ↗
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Stephen Kramer | $699,660 | $507,254 | $2,625,034 | $875,133 | $588,414 | $0 | $8,243 | $5,303,738 |
| Chief Executive Officer and President | ||||||||
| Mary Lou Burke Afonso | 430,560 | 215,280 | 825,011 | 275,028 | 249,725 | 0 | 9,500 | 2,005,104 |
| Chief Operating Officer, North America Center Operations | ||||||||
| Mandy Berman | 430,560 | 215,280 | 825,011 | 275,028 | 249,725 | 0 | 8,109 | 2,003,713 |
| Chief Operating Officer, Back-up Care and Educational Advisory Services | ||||||||
| Elizabeth Boland | 430,560 | 215,280 | 825,011 | 275,028 | 249,725 | 0 | 6,777 | 2,002,381 |
| 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.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Stephen Kramer | $5,303,738 | $5,154,263 | $4,927,814 | ↑ +149,475 |
| Mary Lou Burke Afonso | 2,005,104 | 1,935,981 | 1,833,425 | ↑ +69,123 |
| Mandy Berman | 2,003,713 | 1,937,424 | 1,730,730 | ↑ +66,289 |
| Elizabeth Boland | 2,002,381 | 1,932,433 | 1,832,613 | ↑ +69,948 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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Each company listed discloses BFAM 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 BFAM in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2025 total |
|---|---|---|
| Cathy Minehan | Former director (through FY2025) | $43,750 |
| David H. Lissy | Chair of the Board | $300,000 |
| Jennifer Schulz | Independent Director | $207,500 |
| Jordan Hitch | Independent Director | $225,000 |
| Joshua Bekenstein | Independent Director | $210,000 |
| Julie Atkinson | Independent Director | $210,000 |
| Laurel J. Richie | Independent Director | $227,500 |
| Lawrence M. Alleva | Independent Director | $230,000 |
| Mary Ann Tocio | Independent Director | $209,375 |
No insider equity transactions reported since the proxy statement.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Mary Lou Burke Afonso | PSU | 2025-03-05 | 1,056 | 2,112 | — | 4,224 | $275,004 |
| Mary Lou Burke Afonso | RSU | 2025-03-05 | — | — | 4,224 | — | 550,007 |
| Elizabeth Boland | RSU | 2025-03-05 | — | — | 4,224 | — | 550,007 |
| Elizabeth Boland | PSU | 2025-03-05 | 1,056 | 2,112 | — | 4,224 | 275,004 |
| Stephen Kramer | RSU | 2025-03-05 | — | — | 13,440 | — | 1,750,022 |
| Mandy Berman | RSU | 2025-03-05 | — | — | 4,224 | — | 550,007 |
| Mandy Berman | PSU | 2025-03-05 | 1,056 | 2,112 | — | 4,224 | 275,004 |
| Mandy Berman | PSU | 2025-03-05 | 720 | 1,440 | — | 2,880 | 187,502 |
| Mandy Berman | RSU | 2025-03-05 | — | — | 2,880 | — | 375,005 |
| Stephen Kramer | PSU | 2025-03-05 | 3,360 | 6,720 | — | 13,440 | 875,011 |
| Stephen Kramer | OPTION | 2025-03-05 | — | — | 14,863 | — | 875,133 |
| Elizabeth Boland | OPTION | 2025-03-05 | — | — | 4,671 | — | 275,028 |
| Mandy Berman | OPTION | 2025-03-05 | — | — | 4,671 | — | 275,028 |
| Mary Lou Burke Afonso | OPTION | 2025-03-05 | — | — | 4,671 | — | 275,028 |
| Mandy Berman | OPTION | 2025-03-05 | — | — | 3,185 | — | 187,533 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Mary Lou Burke Afonso | $550,007 | $275,004 | $275,028 | 25.0% |
| Elizabeth Boland | 550,007 | 275,004 | 275,028 | 25.0% |
| Stephen Kramer | 1,750,022 | 875,011 | 875,133 | 25.0% |
| Mandy Berman | 925,012 | 462,506 | 462,561 | 25.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Mandy Berman | PSU | 2,112 | — | $214,157 |
| Stephen Kramer | RSU | 22,439 | — | 2,275,315 |
| Elizabeth Boland | RSU | 7,052 | — | 715,073 |
| Stephen Kramer | PSU | 7,566 | — | 767,192 |
| Stephen Kramer | RSU | 15,132 | — | 1,534,385 |
| Stephen Kramer | PSU | 11,219 | — | 1,137,607 |
| Stephen Kramer | RSU | 13,440 | — | 1,362,816 |
| Mandy Berman | RSU | 7,052 | — | 715,073 |
| Stephen Kramer | Option | 9,500 | 128.81 | — |
| Stephen Kramer | PSU | 6,720 | — | 681,408 |
| Elizabeth Boland | PSU | 2,112 | — | 214,157 |
| Elizabeth Boland | RSU | 4,756 | — | 482,258 |
| Elizabeth Boland | PSU | 3,526 | — | 357,536 |
| Mandy Berman | RSU | 4,756 | — | 482,258 |
| Elizabeth Boland | RSU | 4,224 | — | 428,314 |
| Mandy Berman | RSU | 4,224 | — | 428,314 |
| Mandy Berman | PSU | 3,526 | — | 357,536 |
| Elizabeth Boland | PSU | 2,378 | — | 241,129 |
| Mandy Berman | PSU | 2,378 | — | 241,129 |
| Stephen Kramer | Option | 8,900 | 77.99 | — |
| Stephen Kramer | Option | 11,419 | 115.65 | — |
| Stephen Kramer | Option | 14,863 | 130.21 | — |
| Elizabeth Boland | Option | 678 | 159.66 | — |
| Elizabeth Boland | Option | 4,176 | 128.81 | — |
| Elizabeth Boland | Option | 6,240 | 128.81 | — |
| Elizabeth Boland | Option | 2,798 | 77.99 | — |
| Elizabeth Boland | Option | 3,589 | 115.65 | — |
| Elizabeth Boland | Option | 4,671 | 130.21 | — |
| Elizabeth Boland | Option | 2,828 | 159.66 | — |
| Mandy Berman | Option | 2,798 | 77.99 | — |
| Mandy Berman | Option | 3,589 | 115.65 | — |
| Mandy Berman | Option | 4,671 | 130.21 | — |
The compensation philosophy centers on pay-for-performance, equity ownership, and individual performance. It places a greater emphasis on long-term equity incentive grants to align executive interests with shareholders and incentivize long-term value creation.
| CEO STI target (% of salary) | NaN% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Meridian Compensation Partners, LLC |
| Clawback policy | Mandatory recovery of erroneously awarded incentive-based compensation in the event of an accounting restatement, adhering to NYSE and SEC rules. |
| Anti-hedging | Hedging transactions are strictly prohibited under the Amended and Restated Insider Trading Policy. |
| Anti-pledging | Pledging Company securities as collateral for a loan is strictly prohibited under the Amended and Restated Insider Trading Policy. |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-03 | 40,505,698 | 4,888,698 | 9,497 | 89.23% | Passed |
| 2025 | 2025-06-03 | 50,898,286 | 3,121,652 | 71,769 | 94.22% | 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.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-06-03 | 89.23%a |
| 2025 | 2025-06-03 | 94.22%b |
a. Approved under the standard stated in the filing — “Abstentions and broker non-votes are not considered votes cast for the foregoing purpose and will have no effect on the results of this vote.”.
b. Approved under the standard stated in the filing — “Abstentions and broker non-votes are not considered votes cast for the foregoing purpose and will have no effect on the results of this vote.”.
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.
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| David H. LissyIndependent · Board Chair | $175,000 | $125,000 | — | — | — | $300,000 |
| Lawrence M. AllevaIndependent · Audit | 105,000 | 125,000 | — | — | — | 230,000 |
| Laurel J. RichieIndependent · Nominating and Corporate Governance | 102,500 | 125,000 | — | — | — | 227,500 |
| Jordan HitchIndependent · Compensation | 100,000 | 125,000 | — | — | — | 225,000 |
| Julie AtkinsonIndependent | 85,000 | 125,000 | — | — | — | 210,000 |
| Joshua BekensteinIndependent · Compensation | 85,000 | 125,000 | — | — | — | 210,000 |
| Mary Ann TocioIndependent · Audit | 84,375 | 125,000 | — | — | — | 209,375 |
| Jennifer SchulzIndependent · Compensation | 82,500 | 125,000 | — | — | — | 207,500 |
| Cathy MinehanIndependent · Departed during FY | 43,750 | 0 | — | — | — | 43,750 |
| Stephen H. KramerEmployee director | — | — | — | — | — | 0 |
| Annual cash retainer | $75,000 |
|---|---|
| Annual equity retainer | $125,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 25,000 / 15,000 / 15,000 |
| Stock ownership guideline | $5 |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $863,125 |
| Equity awards (grant-date value) | $1,000,000 |
| All other compensation | $0 |
| Total cost of the board | $1,863,125 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
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 | Bright Horizons Family Solutions | 2025 | Stephen Kramer | $699,660 | $2,625,034 | $875,133 | $588,414 | $5,303,738 |
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.
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.
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.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Stephen Kramer | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Summary Compensation Table”. As printed: 5,303,738. Filing ↗machine: r2 · c39 · span 850778–850787 |
| 2 | Section 01, Mary Lou Burke Afonso | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Summary Compensation Table”. As printed: 2,005,104. Filing ↗machine: r10 · c39 · span 868233–868242 |
| 3 | Section 01, Mandy Berman | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Summary Compensation Table”. As printed: 2,003,713. Filing ↗machine: r14 · c39 · span 877027–877036 |
| 4 | Section 01, Elizabeth Boland | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Summary Compensation Table”. As printed: 2,002,381. Filing ↗machine: r6 · c39 · span 859526–859535 |
| 5 | Section 03, Mary Lou Burke Afonso PSU | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 959553–959560 |
| 6 | Section 03, Mary Lou Burke Afonso RSU | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 962858–962865 |
| 7 | Section 03, Elizabeth Boland RSU | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 949619–949626 |
| 8 | Section 03, Elizabeth Boland PSU | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 946339–946346 |
| 9 | Section 03, Stephen Kramer RSU | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 936419–936428 |
| 10 | Section 03, Mandy Berman RSU | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 976038–976045 |
| 11 | Section 03, Mandy Berman PSU | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 972758–972765 |
| 12 | Section 03, Mandy Berman PSU | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 986022–986029 |
| 13 | Section 03, Mandy Berman RSU | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 989327–989334 |
| 14 | Section 03, Stephen Kramer PSU | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 933113–933120 |
| 15 | Section 03, Stephen Kramer OPTION | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 939721–939728 |
| 16 | Section 03, Elizabeth Boland OPTION | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 952893–952900 |
| 17 | Section 03, Mandy Berman OPTION | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 979312–979319 |
| 18 | Section 03, Mary Lou Burke Afonso OPTION | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 966157–966164 |
| 19 | Section 03, Mandy Berman OPTION | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 992626–992633 |
| 20 | Section 08, David H. Lissy | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Director Compensation”. As printed: 300,000. Filing ↗machine: span 249484–249526 |
| 21 | Section 08, Lawrence M. Alleva | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Director Compensation”. As printed: 230,000. Filing ↗machine: span 245723–245765 |
| 22 | Section 08, Laurel J. Richie | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Director Compensation”. As printed: 227,500. Filing ↗machine: span 251439–251481 |
| 23 | Section 08, Jordan Hitch | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Director Compensation”. As printed: 225,000. Filing ↗machine: span 248531–248573 |
| 24 | Section 08, Julie Atkinson | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Director Compensation”. As printed: 210,000. Filing ↗machine: span 246650–246692 |
| 25 | Section 08, Joshua Bekenstein | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Director Compensation”. As printed: 210,000. Filing ↗machine: span 247605–247647 |
| 26 | Section 08, Mary Ann Tocio | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Director Compensation”. As printed: 209,375. Filing ↗machine: span 253319–253361 |
| 27 | Section 08, Jennifer Schulz | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Director Compensation”. As printed: 207,500. Filing ↗machine: span 252367–252409 |
| 28 | Section 08, Cathy Minehan | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Director Compensation”. As printed: 43,750. Filing ↗machine: span 250083–250124 |
| 29 | Section 08, Stephen H. Kramer | DEF 14A | 2026-04-20 | 0001193125-26-162582 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 30 | Section 06, 2026 vote | Form 8-K | 2026-06-03 | 0001437578-26-000016 | Item 5.07 · say-on-pay result. As reported: 89.23% (votes for as printed: 40,505,698). Filing ↗ |
| 31 | Section 06, 2025 vote | Form 8-K | 2025-06-03 | 0001437578-25-000017 | Item 5.07 · say-on-pay result. As reported: 94.22% (votes for as printed: 50,898,286). Filing ↗ |
| 32 | Section 01 trend, Δ column (computed) | Computed | — | — | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 33 | 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).machine: formula: sums + PSU ratio |
| 34 | Section 09b board cost (computed) | Computed | — | — | Cash 863,125 + equity 1,000,000 + all other 0 = 1,863,125, summed across the director compensation table rows.machine: formula: Σ = 1,863,125 |
| 35 | Bright Horizons Family Solutions (subject), Section 10b CEO total | DEF 14A | 2026-04-20 | 0001193125-26-162582 | CEO total compensation as printed in Bright Horizons Family Solutions's own proxy. As printed: 5,303,738. Filing ↗machine: r2 · c39 · span 850778–850787 |