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.
This is the complete answer, not a partial one — the list is never padded.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Philip Horlock | $420,513 | $0 | $4,588,447 | $0 | $1,500,000 | $0 | $58,655 | $6,567,615 |
| Former President and Chief Executive Officer | ||||||||
| John Wyskiel | 524,712 | 250,000 | 1,176,374 | 0 | 1,306,875 | 0 | 174,303 | 3,432,264 |
| Director, President and Chief Executive Officer | ||||||||
| Razvan Radulescu | 574,821 | 0 | 686,745 | 139,961 | 1,440,000 | 0 | 13,125 | 2,854,652 |
| Chief Financial Officer | ||||||||
| Ted Scartz | 428,758 | 30,000 | 242,508 | 118,186 | 568,100 | 0 | 11,462 | 1,399,014 |
| SVP and General Counsel | ||||||||
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 |
|---|---|---|---|---|
| Philip Horlock | $6,567,615 | $4,783,785 | $4,456,161 | +1,783,830 |
| John Wyskiel | 3,432,264 | — | — | — |
| Razvan Radulescu | 2,854,652 | 2,063,102 | 2,598,631 | +791,550 |
| Ted Scartz | 1,399,014 | 982,455 | 1,600,231 | +416,559 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
No insider equity transactions reported since the proxy statement.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Razvan Radulescu | PSU | — | — | — | — | — | — |
| Razvan Radulescu | OPTION | — | — | 3,503 | — | — | 117,530 |
| Razvan Radulescu | RSU | — | — | 4,136 | — | — | 172,553 |
| Razvan Radulescu | RSU | — | — | — | 3,862 | — | 83,342 |
| Razvan Radulescu | RSU | — | — | — | 2,037 | — | 84,984 |
| Razvan Radulescu | RSU | — | — | — | 3,416 | — | 42,188 |
| Razvan Radulescu | RSU | — | — | 3,862 | — | — | 159,694 |
| Razvan Radulescu | OPTION | — | — | — | 3,503 | — | 22,431 |
| Razvan Radulescu | RSU | — | — | 3,416 | — | — | 143,984 |
| Ted Scartz | RSU | — | — | — | 1,352 | — | 29,176 |
| Ted Scartz | OPTION | — | — | 2,958 | — | — | 99,245 |
| Ted Scartz | OPTION | — | — | — | 2,958 | — | 18,941 |
| Ted Scartz | RSU | — | — | 962 | — | — | 40,548 |
| Ted Scartz | RSU | — | — | — | 961 | — | 11,868 |
| Ted Scartz | PSU | — | — | — | — | — | — |
| Ted Scartz | RSU | — | — | 1,351 | — | — | 55,864 |
| Ted Scartz | RSU | — | — | — | 831 | — | 34,669 |
| Ted Scartz | RSU | — | — | 1,687 | — | — | 70,383 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Razvan Radulescu | $686,745 | $0 | $139,961 | 0.0% |
| Ted Scartz | 242,508 | 0 | 118,186 | 0.0% |
% 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 |
|---|---|---|---|---|
| John Wyskiel | PSU | 102,535 | — | $5,941,903 |
| Razvan Radulescu | PSU | 18,516 | — | 1,073,002 |
| Razvan Radulescu | PSU | 15,446 | — | 895,096 |
| Ted Scartz | PSU | 7,551 | — | 437,580 |
| Razvan Radulescu | PSU | 6,832 | — | 395,914 |
| Ted Scartz | PSU | 5,405 | — | 313,220 |
| Ted Scartz | PSU | 1,923 | — | 111,438 |
| Razvan Radulescu | Option | 7,006 | 12.35 | — |
| Ted Scartz | Option | 5,916 | 12.35 | — |
The program is designed to motivate executive officers to achieve goals by closely linking their performance and the Company’s performance to compensation, aligning executive interests with Stockholders through equity-based compensation, and providing market-competitive pay to attract and retain talent.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-03-11 | 24,612,253 | 885,233 | 379,792 | 96.53% | Passed |
| 2023 | 2023-03-08 | 25,172,512 | 1,810,338 | 26,064 | 93.29% | Passed |
| 2020 | 2020-03-04 | 22,191,240 | 132,888 | 37,410 | 99.4% | 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 | 2026-03-11 | 96.53%a |
| 2023 | 2023-03-08 | 93.29%b |
| 2020 | 2020-03-04 | 99.4%c |
a. Voting standard not stated in the filing.
b. Approved under the standard stated in the filing — “Abstentions and broker "non-votes" will not be counted as votes cast and will not affect the voting results for any of the proposals identified in the Notice of Annual Meeting.”.
c. Approved under the standard stated in the filing — “Broker "non-votes" and abstentions will have no effect with respect to the approval of this proposal.”.
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.
| Ratio (CEO : median employee) | 135 : 1 |
|---|---|
| CEO total compensation | — |
| Median employee compensation | $74,230 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Douglas GrimmIndependent · Board Chair · Compensation · Corporate Governance and Nominating | $151,875 | $184,968 | — | — | $0 | $336,843 |
| Mark BlaufussIndependent · Audit (Chair) | 105,000 | 134,980 | — | — | 0 | 239,980 |
| Kevin PennIndependent · Compensation (Chair) · Corporate Governance and Nominating | 99,375 | 134,980 | — | — | 0 | 234,355 |
| Julie FreamIndependent · Corporate Governance and Nominating (Chair) | 99,375 | 134,980 | — | — | 0 | 234,355 |
| Simon J. NewmanIndependent · Compensation | 86,250 | 134,980 | — | — | 0 | 221,230 |
| Edward T. HightowerIndependent · Audit | 86,250 | 134,980 | — | — | 0 | 221,230 |
| Dan ThauIndependent · Audit | 86,250 | 134,980 | — | — | 0 | 221,230 |
| John F. WyskielEmployee director | 0 | 0 | — | — | 0 | 0 |
| Philip HorlockEmployee director · Not standing for re-election · Departed during FY | 0 | 0 | — | — | 0 | 0 |
| Annual cash retainer | $90,000 |
|---|---|
| Annual equity retainer | $135,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 15,000 / 15,000 |
| Stock ownership guideline | The settlement date for the RSUs awarded prior to implementation of the Director Stock Ownership Guidelines for fiscal 2025 was the earlier of the date when the director’s service terminates, or consummation of a change in control of the Company. |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $714,375 |
| Equity awards (grant-date value) | $994,848 |
| All other compensation | $0 |
| Total cost of the board | $1,709,223 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Of the companies Blue Bird 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 Blue Bird.
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 | Blue Bird | 2025 | John Wyskiel | $524,712 | $1,176,374 | $0 | $1,306,875 | $3,432,264 |
| 2 | Douglas Dynamics, Inc. | 2025 | Mark Van Genderen | 651,421 | 1,110,239 | 0 | 1,219,611 | 3,008,565 |
| — | Astec Industries Inc. | — | — | — | — | — | — | not in coverage universe |
| — | Thor Industries Inc. | — | — | — | — | — | — | not in coverage universe |
| — | Commercial Vehicle Group Inc. | — | — | — | — | — | — | not in coverage universe |
| — | Federal Signal Corp. | — | — | — | — | — | — | 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.
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Blue Bird | not disclosed | PRSU 67 · RSU 33 | not disclosed | not disclosed |
| Astec Industries Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Commercial Vehicle Group Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Douglas Dynamics, Inc. | 174.2% | PSU 50 · RSU 50 | Yes — Relative TSR | Frederic W. Cook & Co, Inc. |
| Federal Signal Corp. | not disclosed | not disclosed | not disclosed | not disclosed |
| Thor Industries Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
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.
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, Philip Horlock | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Summary Compensation Table” · page 46. As printed: 6,567,615. Filing ↗machine: r4 · c27 · span 732318–732327 |
| 2 | Section 01, John Wyskiel | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Summary Compensation Table” · page 46. As printed: 3,432,264. Filing ↗machine: r2 · c27 · span 722573–722582 |
| 3 | Section 01, Razvan Radulescu | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Summary Compensation Table” · page 46. As printed: 2,854,652. Filing ↗machine: r8 · c27 · span 751340–751349 |
| 4 | Section 01, Ted Scartz | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Summary Compensation Table” · page 46. As printed: 1,399,014. Filing ↗machine: r12 · c27 · span 770564–770573 |
| 5 | Section 03, Razvan Radulescu PSU | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗ |
| 6 | Section 03, Razvan Radulescu OPTION | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗ |
| 7 | Section 03, Razvan Radulescu RSU | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 998807–998814 |
| 8 | Section 03, Razvan Radulescu RSU | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 992627–992633 |
| 9 | Section 03, Razvan Radulescu RSU | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 1004432–1004438 |
| 10 | Section 03, Razvan Radulescu RSU | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 980668–980674 |
| 11 | Section 03, Razvan Radulescu RSU | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 986848–986855 |
| 12 | Section 03, Razvan Radulescu OPTION | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 968250–968256 |
| 13 | Section 03, Razvan Radulescu RSU | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 974889–974896 |
| 14 | Section 03, Ted Scartz RSU | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 1046195–1046201 |
| 15 | Section 03, Ted Scartz OPTION | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗ |
| 16 | Section 03, Ted Scartz OPTION | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 1025315–1025321 |
| 17 | Section 03, Ted Scartz RSU | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 1030605–1030611 |
| 18 | Section 03, Ted Scartz RSU | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 1035964–1035970 |
| 19 | Section 03, Ted Scartz PSU | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗ |
| 20 | Section 03, Ted Scartz RSU | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 1040836–1040842 |
| 21 | Section 03, Ted Scartz RSU | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 1056019–1056025 |
| 22 | Section 03, Ted Scartz RSU | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 1051067–1051073 |
| 23 | Section 07, pay ratio | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “CEO Pay Ratio”. As printed: 135 : 1. Filing ↗machine: span 1169022–1169025 |
| 24 | Section 08, Douglas Grimm | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Director Compensation”. As printed: 336,843. Filing ↗machine: span 682982–682990 |
| 25 | Section 08, Mark Blaufuss | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Director Compensation”. As printed: 239,980. Filing ↗machine: span 678176–678184 |
| 26 | Section 08, Kevin Penn | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Director Compensation”. As printed: 234,355. Filing ↗machine: span 692773–692781 |
| 27 | Section 08, Julie Fream | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Director Compensation”. As printed: 234,355. Filing ↗machine: span 680417–680425 |
| 28 | Section 08, Simon J. Newman | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Director Compensation”. As printed: 221,230. Filing ↗machine: span 690182–690190 |
| 29 | Section 08, Edward T. Hightower | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Director Compensation”. As printed: 221,230. Filing ↗machine: span 685243–685251 |
| 30 | Section 08, Dan Thau | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Director Compensation”. As printed: 221,230. Filing ↗machine: span 694953–694961 |
| 31 | Section 08, John F. Wyskiel | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 32 | Section 08, Philip Horlock | DEF 14A | 2026-01-26 | 0001140361-26-002269 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 33 | Section 06, 2026 vote | Form 8-K | 2026-03-11 | 0001589526-26-000013 | Item 5.07 · say-on-pay result. As reported: 96.53% (votes for as printed: 24,612,253). Filing ↗ |
| 34 | Section 06, 2023 vote | Form 8-K | 2023-03-10 | 0001589526-23-000030 | Item 5.07 · say-on-pay result. As reported: 93.29% (votes for as printed: 25,172,512). Filing ↗ |
| 35 | Section 06, 2020 vote | Form 8-K | 2020-03-04 | 0001589526-20-000038 | Item 5.07 · say-on-pay result. As reported: 99.4%. Filing ↗ |
| 36 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 37 | Section 03b vehicle mix (computed) | 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 |
| 38 | Section 09b board cost (computed) | Computed | — | computed | Cash 714,375 + equity 994,848 + all other 0 = 1,709,223, summed across the director compensation table rows.machine: formula: Σ = 1,709,223 |
| 39 | Blue Bird (subject), Section 10b CEO total | DEF 14A | 2026-01-26 | 0001140361-26-002269 | CEO total compensation as printed in Blue Bird's own proxy. As printed: 3,432,264. Filing ↗machine: r2 · c27 · span 722573–722582 |
| 40 | Douglas Dynamics, Inc., Section 10b CEO total | DEF 14A | 2026-03-20 | 0001437749-26-009126 | CEO total compensation as printed in Douglas Dynamics, Inc.'s own proxy. As printed: 3,008,565. Filing ↗machine: t83 · r2 · c29 · span 498646–498655 |
| 41 | Section 10a, Douglas Dynamics, Inc. reciprocity | DEF 14A | — | 0001437749-26-009126 | Douglas Dynamics, Inc.'s most recent proxy was read; its disclosed peer group does not include Blue Bird. Filing ↗ |