CEO Jeremy Spivey was paid $450,000 in fiscal year 2025 (SEC filing 0001193125-26-177393 ↗): 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.
$450,000 Jeremy Spivey total, FY2025 | — CEO pay percentile vs peers | — CEO-to-median pay ratio | — Say-on-pay support, latest vote |
Track this company's pay every filing: join the Pro seat waitlist
Velarion Pro: every company page, peer tools and exports, one seat — $1,200/year
CDNL's next annual pay disclosure, estimated April 24, 2027.est. Filing ↗
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Jeremy Spivey | $450,000 | $0 | $0 | $0 | $0 | $0 | $0 | $450,000 |
| Chairman and Chief Executive Officer | ||||||||
| Erik West | 400,000 | 0 | 0 | 0 | 0 | 0 | 0 | 400,000 |
| Chief Operating Officer, Cardinal Civil Contracting | ||||||||
| Mike Rowe | 360,000 | 0 | 0 | 0 | 0 | 0 | 0 | 360,000 |
| 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 |
|---|---|---|---|---|
| Jeremy Spivey | $450,000 | — | — | — |
| Erik West | 400,000 | — | — | — |
| Mike Rowe | 360,000 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
You have just read CDNL's Summary Compensation Table. The whole free brief as a PDF, emailed now, with every figure cited — then a few short notes on the deeper CDNL reports.
We send the PDF right away, then up to three short notes. Reply “unsubscribe” to any of them, any time.
Get the CDNL Peer Teardown Report
$450,000 Jeremy Spivey total, FY2025
$199
The free page is the headline. The teardown reads every company in the disclosed peer group on its own numbers.
Data as of June 5, 2026 · Source: 0001193125-26-177393 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).
Reports for CDNL
Every report below is generated from the same filings as the free brief above, at the moment of purchase. What each one adds:
Order CDNL
Pick the report, add the email the receipt and the PDF go to, and pay by card on Stripe.
How we handle your data → Privacy
The list of companies that name CDNL as a peer is temporarily unavailable — recheck shortly.
Get the CDNL Executive Compensation Report
$1,500
One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2025 total |
|---|---|---|
| Austin J. Shanfelter | Independent Director | $136,227 |
| Ivy Zelman | Lead Independent Director | $128,730 |
| Richard B. Wimmer | Independent Director | $141,225 |
| Richard M. Lee | Independent Director | $136,227 |
No insider equity transactions reported since the proxy statement.
The Compensation Committee believes that the Company’s compensation programs appropriately reward prudent business judgment and risk-taking over the long term. The Committee provides oversight with respect to any risks that may be created by these compensation programs and has concluded that they do not create risks that are reasonably likely to have a material adverse effect on the Company.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
Say-on-pay vote history is temporarily unavailable — recheck shortly.
The disclosed peer group is temporarily unavailable — recheck shortly.
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 | CDNL | 2025 | Jeremy Spivey | $450,000 | $0 | $0 | $0 | $450,000 |
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, Jeremy Spivey | DEF 14A | 2026-04-24 | 0001193125-26-177393 | Section “Executive Compensation”. As printed: 450,000. Filing ↗machine: r2 · c7 · span 337048–337055 |
| 2 | Section 01, Erik West | DEF 14A | 2026-04-24 | 0001193125-26-177393 | Section “Executive Compensation”. As printed: 400,000. Filing ↗machine: r4 · c7 · span 341634–341641 |
| 3 | Section 01, Mike Rowe | DEF 14A | 2026-04-24 | 0001193125-26-177393 | Section “Executive Compensation”. As printed: 360,000. Filing ↗machine: r6 · c7 · span 348481–348488 |
| 4 | Section 06, 2026 vote | Form 8-K | 2026-06-05 | 0001193125-26-259493 | Item 5.07 · say-on-pay result. As reported: —. Filing ↗ |
| 5 | CDNL (subject), Section 10b CEO total | DEF 14A | 2026-04-24 | 0001193125-26-177393 | CEO total compensation as printed in CDNL's own proxy. As printed: 450,000. Filing ↗machine: r2 · c7 · span 337048–337055 |
The Pay Desk — the free weekly executive pay briefing, one company at a time, every number traceable to a public filing.
You'll confirm on The Pay Desk's sign-up page.
Get the CDNL Executive Compensation Report
$1,500