Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-10-07

Ball (BLL)

CEO Ronald Lewis was paid $4,218,225 in fiscal year 2025, ↓ down 13.2% from fiscal year 2024, the 7th percentile of its disclosed peer group (SEC filing 0001104659-26-029499 ↗): 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.

$13,486,942
Daniel Fisher total, FY2025
Former Chairman and Chief Executive Officer — highest-paid officer; CEO Ronald Lewis: $4,218,225
7th
CEO (Ronald Lewis) pay percentile vs peers
—
CEO-to-median pay ratio
93.54%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Ronald Lewis (Chief Executive Officer), FY2025 total compensation $4,218,225 (base salary $822,720) [exec_comp, SEC accession 0001104659-26-029499, filed 2026-03-17]

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BLL's next annual pay disclosure, estimated March 14, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Daniel Fisher$1,269,462$0$5,798,801$2,081,242$3,676,886$526,735$133,815$13,486,942
Former Chairman and Chief Executive Officer
Ronald Lewis822,72001,197,841429,9181,592,102139,95435,6904,218,225
Chief Executive Officer
Carey Causey612,9650918,908329,809863,13674,73234,7912,834,341
Chief Growth Officer
Howard Yu495,88001,331,146477,752477,719033,5432,816,040
Former Chief Financial Officer
Hannah Lim-Johnson591,4810680,439244,213663,0620186,8002,365,995
Chief Legal Officer
Scott Vail329,456345,0001,176,807102,517029,58814,9681,998,336
Chief Supply Chain & Operations Officer
Daniel Rabbitt433,6470572,89180,000505,476103,69670,7611,766,471
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.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Daniel Fisher$13,486,942$12,329,337$9,318,556↑ +1,157,605
Ronald Lewis4,218,2254,856,9973,021,381↓ −638,772
Carey Causey2,834,3413,088,727—↓ −254,386
Howard Yu2,816,0403,714,1144,410,309↓ −898,074
Hannah Lim-Johnson2,365,9952,466,621—↓ −100,626
Scott Vail1,998,336———
Daniel Rabbitt1,766,471———

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 BLL
21 companies name BLL as a compensation peer

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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
Daniel FisherPSU84,499—$4,475,912
Hannah Lim-JohnsonPSU15,636—828,239
Howard YuRSU19,474—1,031,538
Ronald LewisOption26,42451.35—
Ronald LewisOption28,28655.87—
Ronald LewisOption19,46956.64—
Ronald LewisPSU52,800—2,796,816
Carey CauseyPSU23,556—1,247,761
Scott VailRSU20,623—1,092,400
Hannah Lim-JohnsonRSU10,894—577,055
Ronald LewisRSU7,776—411,895
Ronald LewisOption7,62186.57—
Daniel RabbittRSU7,700—407,869
Daniel RabbittPSU6,521—345,417
Hannah Lim-JohnsonOption15,01051.35—
Howard YuPSU6,503—344,464
Carey CauseyRSU5,965—315,966
Daniel RabbittOption1,15586.57—
Carey CauseyOption5,30956.64—
Daniel RabbittOption2,95056.64—
Daniel RabbittOption4,32655.87—
Carey CauseyOption19,63455.87—
Daniel RabbittOption4,91751.35—
Carey CauseyOption1,89486.57—
Carey CauseyOption20,27151.35—
Hannah Lim-JohnsonOption15,80755.87—
05

Incentive-plan design — the Compensation Discussion & Analysis

Ball's compensation program is designed to foster a pay-for-performance and management-as-owners culture that aligns management interests with shareholders, deliver on strategic objectives, provide competitive compensation, and support the recruitment and retention of key executives.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantFarient Advisors LLC
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-04-29200,367,28413,845,238455,80093.54%Passed
20252025-04-30208,611,22015,297,048669,41593.17%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
20262026-04-2993.54%a
20252025-04-3093.17%b

a. Voting standard not stated in the filing.

b. 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.

08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Stuart A. Taylor IIIndependent · Board Chair · Nominating/Governance · Human Resources · Human Capital$213,261$174,986$0—$20,600$408,847
Cathy D. RossIndependent · Nominating/Governance · Audit · Finance150,000174,9860—25,250350,236
Todd A. PenegorIndependent · Audit · Human Resources (Chair) · Finance · Human Capital150,000174,9860—17,228342,214
Michael J. CaveIndependent · Finance · Audit · Not standing for re-election145,000174,9860—20,250340,236
Dune IvesIndependent · Finance · Nominating/Governance125,000174,9860—22,825322,811
John A. BryantIndependent · Nominating/Governance · Audit · Finance125,000174,9860—20,250320,236
Cynthia NiekampIndependent · Finance (Chair) · Human Resources · Human Capital125,000174,9860—0299,986
Betty SappIndependent · Human Resources · Human Capital125,000174,9860—0299,986
Aaron ErterIndependent · Nominating/Governance · Human Resources · Human Capital125,000174,9860—0299,986
John E. PanichellaIndependent · Finance · Audit · Newly elected21,39987,2510——108,649
09

Board fee structure and ownership guideline

Annual cash retainer$125,000
Annual equity retainer$175,000
Per board meeting fee$750
Committee chair fees (audit / comp / nom-gov)25,000 / 25,000 / 20,000
Stock ownership guideline$5
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,304,660
Equity awards (grant-date value)$1,662,125
All other compensation$126,403
Total cost of the board$3,093,188

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 Ball 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 Ball.

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
1Eastman Chemical Company2025Mark Costa$1,406,958$12,682,200$3,278,151$987,000$19,498,966
2Crown Holdings Inc.2025Timothy Donahue1,450,0008,627,475—4,205,00017,501,363
3Packaging Corporation of America2025Mark Kowlzan1,539,39611,484,12303,100,70016,992,255
4Kimberly-Clark Corporation2025Michael Hsu1,500,00011,499,98901,596,42415,320,405
5International Flavors & Fragrances Inc2025J. Erik Fyrwald1,026,25011,656,76402,047,23015,002,866
6The Sherwin Williams Company2025Heidi Petz1,373,0776,456,2074,253,8592,390,00014,914,317
7PPG Industries, Inc.2025Timothy Knavish1,300,0007,333,5423,666,6901,924,00014,885,022
8General Mills Inc.2026Jeffrey Harmening1,350,0007,326,4052,279,9731,404,54014,018,052
9ConAgra Brands, Inc.2026Sean Connolly1,415,0008,958,37202,827,17013,680,675
10Silgan Holdings Inc.2025Adam Greenlee1,155,6609,487,80001,444,57512,229,234
11Campbell Soup Company2026Mick Beekhuizen1,233,0008,043,56301,226,61010,965,019
12Avery Dennison Corporation2025Deon Stander1,136,5387,649,4300605,4759,538,375
13Graphic Packaging International2025Michael Doss1,316,3007,495,753009,104,747
14Ball2025Ronald Lewis822,7201,197,841429,9181,592,1024,218,225
15Molson Coors Beverage Company2025Rahul Goyal640,4223,121,212200,98639,1224,134,901

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
Ballnot disclosedPSU 50 · Option 25 · RSU 25not disclosedFarient Advisors LLC
Avery Dennison Corporation39%PSU 100Yes — Relative TSRWillis Towers Watson (WTW) and Semler Brossy
Campbell Soup Companynot disclosedRSU 40 · PRSU 30not disclosedFW Cook
ConAgra Brands, Inc.not disclosedPSU 60 · RSU 40Yes — Relative TSRFW Cook
Crown Holdings Inc.200%PSU 67 · RSU 33NoNot determinable from source text
Eastman Chemical Company47%PSA 60 · Option 20 · RSU 20Yes — Relative total shareholder return (rTSR)Aon plc
General Mills Inc.58%PSU 50 · RSU 25 · Options 25Yes — Relative TSR ModifierFW Cook
Graphic Packaging Internationalnot disclosedPRSU 67 · RSU 33not disclosedWTW
International Flavors & Fragrances Inc98.9%PSU 60 · RSU 40Yes — Relative TSR vs. S&P 500 - ChemicalsFW Cook
Kimberly-Clark Corporation61%PSU 60 · RSU 40NoSemler Brossy Consulting Group
Molson Coors Beverage Company6%PSU 50 · RSU 25 · Options 25Yes — Relative TSRCompensation Consultant (independent, unnamed firm referenced generically in text)
Packaging Corporation of Americanot disclosedMSU 34 · RSU 33 · PSU 33Yes — TSRFW Cook
PPG Industries, Inc.93%MSU 34 · Options 33 · PSU 33NoFW Cook
Silgan Holdings Inc.125%RSU 100not disclosednot disclosed
The Sherwin Williams Company110.86%PSU 60 · Options 40NoMercer (US) LLC

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.

10d

Frequently asked questions

Who was the highest-paid executive at Ball in fiscal 2025?
As disclosed, Daniel Fisher (Former Chairman and Chief Executive Officer) was the highest-paid executive at Ball in fiscal 2025, with total compensation of $13,486,942.
How does Ball's chief executive pay compare to its disclosed peer group?
As disclosed, Ronald Lewis's total compensation ranked at the 7th percentile of Ball's disclosed peer group.
How did shareholders vote on Ball's executive compensation?
As disclosed, 93.54% of shareholders supported Ball's executive compensation in the latest say-on-pay vote.
How much does Ball spend in total on board compensation for fiscal 2025?
As disclosed, Ball reported total board compensation of $3,093,188 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'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, Daniel FisherDEF 14A2026-03-170001104659-26-029499Section “Executive Compensation”. As printed: 13,486,942. Filing ↗machine: r4 · c54 · span 1324028–1324038
2Section 01, Ronald LewisDEF 14A2026-03-170001104659-26-029499Section “Executive Compensation”. As printed: 4,218,225. Filing ↗machine: r1 · c54 · span 1303105–1303114
3Section 01, Carey CauseyDEF 14A2026-03-170001104659-26-029499Section “Executive Compensation”. As printed: 2,834,341. Filing ↗machine: r13 · c54 · span 1387319–1387328
4Section 01, Howard YuDEF 14A2026-03-170001104659-26-029499Section “Executive Compensation”. As printed: 2,816,040. Filing ↗machine: r10 · c54 · span 1366128–1366137
5Section 01, Hannah Lim-JohnsonDEF 14A2026-03-170001104659-26-029499Section “Executive Compensation”. As printed: 2,365,995. Filing ↗machine: r16 · c54 · span 1408546–1408555
6Section 01, Scott VailDEF 14A2026-03-170001104659-26-029499Section “Executive Compensation”. As printed: 1,998,336. Filing ↗machine: r19 · c54 · span 1429788–1429797
7Section 01, Daniel RabbittDEF 14A2026-03-170001104659-26-029499Section “Executive Compensation”. As printed: 1,766,471. Filing ↗machine: r7 · c54 · span 1344894–1344903
8Section 08, Stuart A. Taylor IIDEF 14A2026-03-170001104659-26-029499Section “Director Compensation”. As printed: 408,847. Filing ↗
9Section 08, Cathy D. RossDEF 14A2026-03-170001104659-26-029499Section “Director Compensation”. As printed: 350,236. Filing ↗
10Section 08, Todd A. PenegorDEF 14A2026-03-170001104659-26-029499Section “Director Compensation”. As printed: 342,214. Filing ↗
11Section 08, Michael J. CaveDEF 14A2026-03-170001104659-26-029499Section “Director Compensation”. As printed: 340,236. Filing ↗machine: span 740788–740795
12Section 08, Dune IvesDEF 14A2026-03-170001104659-26-029499Section “Director Compensation”. As printed: 322,811. Filing ↗machine: span 750692–750699
13Section 08, John A. BryantDEF 14A2026-03-170001104659-26-029499Section “Director Compensation”. As printed: 320,236. Filing ↗machine: span 735844–735851
14Section 08, Cynthia NiekampDEF 14A2026-03-170001104659-26-029499Section “Director Compensation”. As printed: 299,986. Filing ↗machine: span 760686–760693
15Section 08, Betty SappDEF 14A2026-03-170001104659-26-029499Section “Director Compensation”. As printed: 299,986. Filing ↗machine: span 780469–780476
16Section 08, Aaron ErterDEF 14A2026-03-170001104659-26-029499Section “Director Compensation”. As printed: 299,986. Filing ↗machine: span 745754–745761
17Section 08, John E. PanichellaDEF 14A2026-03-170001104659-26-029499Section “Director Compensation”. As printed: 108,649. Filing ↗
18Section 06, 2026 voteForm 8-K2026-04-290000009389-26-000075Item 5.07 · say-on-pay result. As reported: 93.54% (votes for as printed: 200,367,284). Filing ↗
19Section 06, 2025 voteForm 8-K2025-05-010000009389-25-000004Item 5.07 · say-on-pay result. As reported: 93.17% (votes for as printed: 208,611,220). Filing ↗
20Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
21Section 09b board cost (computed)Computed——Cash 1,304,660 + equity 1,662,125 + all other 126,403 = 3,093,188, summed across the director compensation table rows.machine: formula: Σ = 3,093,188
22Eastman Chemical Company, Section 10b CEO totalDEF 14A2026-03-240000915389-26-000074CEO total compensation as printed in Eastman Chemical Company's own proxy. As printed: 19,498,966. Filing ↗machine: r2 · c27 · span 1263333–1263343
23Crown Holdings Inc., Section 10b CEO totalDEF 14A2026-03-230002039852-26-000055CEO total compensation as printed in Crown Holdings Inc.'s own proxy. As printed: 17,501,363. Filing ↗
24Packaging Corporation of America, Section 10b CEO totalDEF 14A2026-03-270001193125-26-127602CEO total compensation as printed in Packaging Corporation of America's own proxy. As printed: 16,992,255. Filing ↗
25Kimberly-Clark Corporation, Section 10b CEO totalDEF 14A2026-03-230001628280-26-020404CEO total compensation as printed in Kimberly-Clark Corporation's own proxy. As printed: 15,320,405. Filing ↗machine: r2 · c21 · span 1086894–1086904
26International Flavors & Fragrances Inc, Section 10b CEO totalDEF 14A2026-03-180001140361-26-009960CEO total compensation as printed in International Flavors & Fragrances Inc's own proxy. As printed: 15,002,866. Filing ↗machine: t297 · r2 · c25 · span 1428753–1428763
27The Sherwin Williams Company, Section 10b CEO totalDEF 14A2026-03-110000089800-26-000025CEO total compensation as printed in The Sherwin Williams Company's own proxy. As printed: 14,914,317. Filing ↗machine: r2 · c8 · span 1976552–1976562
28PPG Industries, Inc., Section 10b CEO totalDEF 14A2026-03-050000079879-26-000088CEO total compensation as printed in PPG Industries, Inc.'s own proxy. As printed: 14,885,022. Filing ↗machine: span 1300546–1300556
29General Mills Inc., Section 10b CEO totalDEF 14A2026-08-130001628280-26-056619CEO total compensation as printed in General Mills Inc.'s own proxy. As printed: 14,018,052. Filing ↗machine: t159 · r2 · c8 · span 1890686–1890696
30ConAgra Brands, Inc., Section 10b CEO totalDEF 14A2026-08-110000023217-26-000037CEO total compensation as printed in ConAgra Brands, Inc.'s own proxy. As printed: 13,680,675. Filing ↗
31Silgan Holdings Inc., Section 10b CEO totalDEF 14A2026-04-160001193125-26-158049CEO total compensation as printed in Silgan Holdings Inc.'s own proxy. As printed: 12,229,234. Filing ↗machine: t67 · r4 · c26 · span 307628–307638
32Campbell Soup Company, Section 10b CEO totalDEF 14A2026-10-070000016732-26-000031CEO total compensation as printed in Campbell Soup Company's own proxy. As printed: 10,965,019. Filing ↗machine: r2 · c40 · span 1041407–1041417
33Avery Dennison Corporation, Section 10b CEO totalDEF 14A2026-03-120001193125-26-102965CEO total compensation as printed in Avery Dennison Corporation's own proxy. As printed: 9,538,375. Filing ↗machine: span 1488950–1488959
34Graphic Packaging International, Section 10b CEO totalDEF 14A2026-04-280001193125-26-186948CEO total compensation as printed in Graphic Packaging International's own proxy. As printed: 9,104,747. Filing ↗machine: r3 · c38 · span 704335–704344
35Ball (subject), Section 10b CEO totalDEF 14A2026-03-170001104659-26-029499CEO total compensation as printed in Ball's own proxy. As printed: 4,218,225. Filing ↗machine: r1 · c54 · span 1303105–1303114
36Molson Coors Beverage Company, Section 10b CEO totalDEF 14A2026-03-250001104659-26-034154CEO total compensation as printed in Molson Coors Beverage Company's own proxy. As printed: 4,134,901. Filing ↗machine: span 1731683–1731692
37Section 10a, Crown Holdings Inc. reciprocityDEF 14A—0002039852-25-000064Crown Holdings Inc.'s most recent proxy was read; its disclosed peer group does not include Ball. Filing ↗
38Section 10a, PPG Industries, Inc. reciprocityDEF 14A—0000079879-26-000088PPG Industries, Inc.'s most recent proxy was read; its disclosed peer group does not include Ball. Filing ↗
39Section 10a, The Sherwin Williams Company reciprocityDEF 14A—0000089800-26-000025The Sherwin Williams Company's most recent proxy was read; its disclosed peer group does not include Ball. Filing ↗
40Section 10a, Packaging Corporation of America reciprocityDEF 14A—0001193125-26-127602Packaging Corporation of America names Ball in its own disclosed peer group (read from its most recent proxy). Filing ↗
41Section 10a, Avery Dennison Corporation reciprocityDEF 14A—0001193125-26-102965Avery Dennison Corporation names Ball in its own disclosed peer group (read from its most recent proxy). Filing ↗
42Section 10a, ConAgra Brands, Inc. reciprocityDEF 14A—0000023217-26-000037ConAgra Brands, Inc.'s most recent proxy was read; its disclosed peer group does not include Ball. Filing ↗
43Section 10a, International Flavors & Fragrances Inc reciprocityDEF 14A—0001140361-26-009960International Flavors & Fragrances Inc's most recent proxy was read; its disclosed peer group does not include Ball. Filing ↗
44Section 10a, Eastman Chemical Company reciprocityDEF 14A—0000915389-26-000074Eastman Chemical Company's most recent proxy was read; its disclosed peer group does not include Ball. Filing ↗
45Section 10a, Molson Coors Beverage Company reciprocityDEF 14A—0001104659-26-034154Molson Coors Beverage Company's most recent proxy was read; its disclosed peer group does not include Ball. Filing ↗
46Section 10a, Campbell Soup Company reciprocityDEF 14A—0000016732-26-000031Campbell Soup Company's most recent proxy was read; its disclosed peer group does not include Ball. Filing ↗
47Section 10a, Graphic Packaging International reciprocityDEF 14A—0001193125-26-186948Graphic Packaging International's most recent proxy was read; its disclosed peer group does not include Ball. Filing ↗
48Section 10a, General Mills Inc. reciprocityDEF 14A—0001628280-26-056619General Mills Inc.'s most recent proxy was read; its disclosed peer group does not include Ball. Filing ↗
49Section 10a, Silgan Holdings Inc. reciprocityDEF 14A—0001193125-26-158049Silgan Holdings Inc.'s most recent proxy was read; its disclosed peer group does not include Ball. Filing ↗

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