Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-05-15

Core Molding Technologies (CMT)

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.

$1,571,116
David Duvall total, FY2025
1st
CEO pay percentile vs peers
CEO-to-median pay ratio
97.67%
Say-on-pay support, latest vote
Companies that benchmark against CMT
3 companies name CMT as a compensation peer

Each company listed discloses CMT 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 CMT 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
David Duvall$787,350$0$761,016$0$0$0$22,750$1,571,116
President and Chief Executive Officer
John Zimmer235,980000001,265,8161,501,796
Former EVP, Chief Financial Officer
Eric Palomaki430,7500344,58900022,750798,089
Chief Operating Officer
Alex Panda258,7500150,05600022,750431,556
EVP, 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 FY20242025
David Duvall$1,571,116$1,966,118$2,287,563−395,002
John Zimmer1,501,7961,080,1171,269,085+421,679
Eric Palomaki798,089964,4511,097,854−166,362
Alex Panda431,556

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
David DuvallRSA29,704$380,508
David DuvallPRSU11,496220,500
David DuvallRSA26,825514,500
Eric PalomakiRSA11,562221,800
Eric PalomakiPRSU4,95595,000
Eric PalomakiRSA13,450172,295
Alex PandaRSA5,85775,028
John ZimmerRSA13,314255,400
John ZimmerPRSU5,706109,400
03b

Vehicle mix — grant-date fair value by award type

Grant-level vehicle detail not disclosed.

% 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
David DuvallRSU12,544$251,507
David DuvallRSU29,704595,565
David DuvallPSU29,704595,565
David DuvallRSU17,883358,554
Alex PandaRSU5,857117,433
Eric PalomakiRSU13,450269,673
Eric PalomakiPSU13,450269,673
David DuvallPSU11,496230,495
Eric PalomakiRSU7,708154,545
Alex PandaPSU5,857117,433
Eric PalomakiRSU5,619112,661
Eric PalomakiPSU4,95599,348
David DuvallPSU4,18283,849
Eric PalomakiPSU1,87337,554
05

Incentive-plan design — the Compensation Discussion & Analysis

Our compensation philosophy is focused on incentivizing executives primarily through the use of base salary, annual short-term cash incentives and long-term equity-based incentive compensation in order to attract, motivate, reward and retain executives. The program aims to align the interests of executives with those of stockholders and link a material portion of executive compensation with performance.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantPearl Meyer & Partners LLC
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-146,356,45054,75796,98897.67%Passed
20252025-05-156,138,080109,065158,41095.82%Passed
20242024-05-166,302,812128,83236,76497.44%Passed
20232023-05-115,616,47491,84344,44197.63%Passed
20222022-05-124,806,696655,15313,93187.78%Passed
20212021-05-135,160,69772,83514,66698.61%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
20262026-05-1497.67%a
20252025-05-1595.82%b
20242024-05-1697.44%c

a. Approved under the standard stated in the filing — “Abstentions will count as shares present and entitled to vote in determining the presence of a quorum for a particular matter, and will have the effect of a vote "withheld" for Proposal 1 and "against" such matter for Proposals 2, 3, and 4.”.

b. Approved under the standard stated in the filing — “Abstentions will count as shares present and entitled to vote in determining the presence of a quorum for a particular matter, and will have the effect of a vote "withheld" for Proposal 1 and "against" such matter for Proposals 2, 3, and 4.”.

c. Approved under the standard stated in the filing — “Abstentions will count as shares present and entitled to vote in determining the presence of a quorum for a particular matter, and will have the effect of a vote "withheld" for Proposal 1 and "against" such matter for Proposals 2, 3, 4 and 5.”.

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
Thomas R. CellittiIndependent · Board Chair · Nominating and Corporate Governance · Compensation · Executive Resource (Chair)$131,525$115,546$247,071
Matthew E. JauchiusIndependent · Audit (Chair) · Nominating and Corporate Governance104,45886,788191,246
Andrew O. SmithIndependent · Audit · Compensation (Chair)105,15883,777188,935
Sandra L. KowaleskiIndependent · Nominating and Corporate Governance95,15883,777178,935
Salvador MiñarroIndependent · Compensation89,84078,782168,622
Ralph O. HellmoldIndependent · Audit · Nominating and Corporate Governance · Compensation89,65878,782168,440
David L. DuvallEmployee director0
09

Board fee structure and ownership guideline

Annual cash retainer$85,575
Annual equity retainer
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)8,400 / 5,250 / 5,250
Stock ownership guideline$3
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$615,797
Equity awards (grant-date value)$527,452
All other compensation$0
Total cost of the board$1,143,249

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.

MNTX Manitex International, Inc.TWIN Twin Disc, IncorporatedMYE Myers Industries, Inc.CECO CECO Environmental CorpMPAA Motorcar Parts of AmericaPLOW Douglas Dynamics Inc..THRM Gentherm IncorporatedDORM Dorman Product Inc.UFPT UFP Technologies, Inc.BOOM DMC Global Inc.USAP Universal Stainless & AlloyHURC Hurco Companies, Inc.CIX Compx International Inc.SIF Sifco Industries, IncGHM Graham CorporationHLIO Helios Technologies, Inc.EBC The Eastern CompanyACNT Ascent IndustriesSRI Stoneridge, Inc.CVGI Commercial Vehicle GroupRAIL FreightCar America, Inc.STRT Strattec Security Corp.
10a

Peer reciprocity

Of the companies Core Molding Technologies 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.

Manitex International, Inc. (MNTX) Twin Disc, Incorporated (TWIN) Myers Industries, Inc. (MYE) CECO Environmental Corp (CECO)38 Motorcar Parts of America (MPAA) Douglas Dynamics Inc.. (PLOW)39 Gentherm Incorporated (THRM)40 Dorman Product Inc. (DORM)41 UFP Technologies, Inc. (UFPT)42 DMC Global Inc. (BOOM) Universal Stainless & Alloy (USAP) Hurco Companies, Inc. (HURC) Compx International Inc. (CIX) Sifco Industries, Inc (SIF) Graham Corporation (GHM) Helios Technologies, Inc. (HLIO)43 The Eastern Company (EBC)44 Ascent Industries (ACNT) Stoneridge, Inc. (SRI)45 Commercial Vehicle Group (CVGI)46 FreightCar America, Inc. (RAIL) Strattec Security Corp. (STRT)47

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 Core Molding Technologies.

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
1Gentherm Incorporated2025William Presley$950,000$7,804,910$0$1,487,938$12,966,927
2UFP Technologies, Inc.2025R. Jeffrey Bailly789,0005,377,49901,260,9347,648,440
3Dorman Product Inc.2025Kevin Olsen970,1924,206,02401,522,9506,745,783
4Strattec Security Corp.2025Jennifer Slater650,0002,804,24801,300,0005,352,066
5The Eastern Company2025Denis Sheahan800,0003,371,297792,0005,069,867
6Commercial Vehicle Group2025James Ray879,2313,059,120003,949,428
7Stoneridge, Inc.2025James Zizelman900,0002,256,6210405,0003,593,069
8Helios Technologies, Inc.2025Sean Bagan713,461692,972705,015987,0003,383,351
9CECO Environmental Corp2024Todd Gleason717,3831,627,505289,575382,6563,051,771
10Douglas Dynamics Inc..2025Mark Van Genderen651,4211,110,23901,219,6113,008,565
11Hurco Companies, Inc.2025Gregory Volovic675,8001,249,991002,023,603
12Core Molding Technologies2025David Duvall787,350761,016001,571,116
Manitex International, Inc.not in coverage universe
Twin Disc, Incorporatednot in coverage universe
Myers Industries, Inc.not in coverage universe
Motorcar Parts of Americanot in coverage universe
DMC Global Inc.not in coverage universe
Universal Stainless & Alloynot in coverage universe
Compx International Inc.not in coverage universe
Sifco Industries, Incnot in coverage universe
Graham Corporationnot in coverage universe
Ascent Industriesnot in coverage universe
FreightCar America, Inc.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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Core Molding Technologiesnot disclosedRSU 50 · PRSU 50not disclosedPearl Meyer & Partners LLC
Ascent Industriesnot disclosednot disclosednot disclosednot disclosed
CECO Environmental Corp40%PSU 75 · Options 25NoMeridian Compensation Partners LLC
Commercial Vehicle Groupnot disclosedLTIP Units 60 · Restricted Stock 40not disclosedMeridian
Compx International Inc.not disclosednot disclosednot disclosednot disclosed
DMC Global Inc.not disclosednot disclosednot disclosednot disclosed
Dorman Product Inc.142%RSU 50 · PSU 50NoMeridian Compensation Partners, LLC
Douglas Dynamics Inc..174.2%PSU 50 · RSU 50Yes — Relative TSRFrederic W. Cook & Co, Inc.
FreightCar America, Inc.not disclosednot disclosednot disclosednot disclosed
Gentherm Incorporated125.3%PSU 70 · RSU 30NoMeridian Compensation Partners
Graham Corporationnot disclosednot disclosednot disclosednot disclosed
Helios Technologies, Inc.140%RSU 50 · Options 50NoMercer
Hurco Companies, Inc.not disclosedPSU 55 · RSU 45NoPay Governance, LLC
Manitex International, Inc.not disclosednot disclosednot disclosednot disclosed
Motorcar Parts of Americanot disclosednot disclosednot disclosednot disclosed
Myers Industries, Inc.not disclosednot disclosednot disclosednot disclosed
Sifco Industries, Incnot disclosednot disclosednot disclosednot disclosed
Stoneridge, Inc.45%PSU 55 · RSU 45Yes — Total Shareholder Return (TSR)Meridian Compensation Partners
Strattec Security Corp.200%RSU 50 · PSU 50NoPay Governance
The Eastern Company110%PSU 60 · RSU 40Yes — Relative Total Shareholder Return (TSR) vs. KRX BanksPearl Meyer
Twin Disc, Incorporatednot disclosednot disclosednot disclosednot disclosed
UFP Technologies, Inc.152%not disclosedNoPearl Meyer
Universal Stainless & Alloynot disclosednot disclosednot disclosednot 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.

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, David DuvallDEF 14A2026-04-060001026655-26-000019Section “Executive Compensation”. As printed: 1,571,116. Filing ↗
2Section 01, John ZimmerDEF 14A2026-04-060001026655-26-000019Section “Executive Compensation”. As printed: 1,501,796. Filing ↗
3Section 01, Eric PalomakiDEF 14A2026-04-060001026655-26-000019Section “Executive Compensation”. As printed: 798,089. Filing ↗
4Section 01, Alex PandaDEF 14A2026-04-060001026655-26-000019Section “Executive Compensation”. As printed: 431,556. Filing ↗machine: r5 · c24 · span 366523–366530
5Section 03, David Duvall RSADEF 14A2026-04-060001026655-26-000019Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
6Section 03, David Duvall PRSUDEF 14A2026-04-060001026655-26-000019Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
7Section 03, David Duvall RSADEF 14A2026-04-060001026655-26-000019Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
8Section 03, Eric Palomaki RSADEF 14A2026-04-060001026655-26-000019Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
9Section 03, Eric Palomaki PRSUDEF 14A2026-04-060001026655-26-000019Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
10Section 03, Eric Palomaki RSADEF 14A2026-04-060001026655-26-000019Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
11Section 03, Alex Panda RSADEF 14A2026-04-060001026655-26-000019Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
12Section 03, John Zimmer RSADEF 14A2026-04-060001026655-26-000019Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
13Section 03, John Zimmer PRSUDEF 14A2026-04-060001026655-26-000019Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
14Section 08, Thomas R. CellittiDEF 14A2026-04-060001026655-26-000019Section “Director Compensation”. As printed: 247,071. Filing ↗machine: span 483402–483409
15Section 08, Matthew E. JauchiusDEF 14A2026-04-060001026655-26-000019Section “Director Compensation”. As printed: 191,246. Filing ↗machine: span 485412–485419
16Section 08, Andrew O. SmithDEF 14A2026-04-060001026655-26-000019Section “Director Compensation”. As printed: 188,935. Filing ↗machine: span 488271–488278
17Section 08, Sandra L. KowaleskiDEF 14A2026-04-060001026655-26-000019Section “Director Compensation”. As printed: 178,935. Filing ↗machine: span 486261–486268
18Section 08, Salvador MiñarroDEF 14A2026-04-060001026655-26-000019Section “Director Compensation”. As printed: 168,622. Filing ↗machine: span 487212–487219
19Section 08, Ralph O. HellmoldDEF 14A2026-04-060001026655-26-000019Section “Director Compensation”. As printed: 168,440. Filing ↗machine: span 484462–484469
20Section 08, David L. DuvallDEF 14A2026-04-060001026655-26-000019Section “Director Compensation”. As printed: 0. Filing ↗
21Section 06, 2026 voteForm 8-K2026-05-150001026655-26-000030Item 5.07 · say-on-pay result. As reported: 97.67% (votes for as printed: 6,356,450). Filing ↗
22Section 06, 2025 voteForm 8-K2025-05-190001026655-25-000036Item 5.07 · say-on-pay result. As reported: 95.82% (votes for as printed: 6,138,080). Filing ↗
23Section 06, 2024 voteForm 8-K2024-05-200001026655-24-000080Item 5.07 · say-on-pay result. As reported: 97.44% (votes for as printed: 6,302,812). Filing ↗
24Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
25Section 09b board cost (computed)ComputedcomputedCash 615,797 + equity 527,452 + all other 0 = 1,143,249, summed across the director compensation table rows.machine: formula: Σ = 1,143,249
26Gentherm Incorporated, Section 10b CEO totalDEF 14A2026-04-010001140361-26-012756CEO total compensation as printed in Gentherm Incorporated's own proxy. As printed: 12,966,927. Filing ↗machine: r2 · c8 · span 903625–903635
27UFP Technologies, Inc., Section 10b CEO totalDEF 14A2026-04-300001628280-26-028710CEO total compensation as printed in UFP Technologies, Inc.'s own proxy. As printed: 7,648,440. Filing ↗machine: t11 · r3 · c21 · span 261984–261993
28Dorman Product Inc., Section 10b CEO totalDEF 14A2026-04-060001140361-26-013339CEO total compensation as printed in Dorman Product Inc.'s own proxy. As printed: 6,745,783. Filing ↗machine: r2 · c25 · span 1163874–1163883
29Strattec Security Corp., Section 10b CEO totalDEF 14A2025-09-110000950170-25-114215CEO total compensation as printed in Strattec Security Corp.'s own proxy. As printed: 5,352,066. Filing ↗machine: t52 · r5 · c31 · span 1334968–1334977
30The Eastern Company, Section 10b CEO totalDEF 14A2026-03-260001193125-26-126283CEO total compensation as printed in The Eastern Company's own proxy. As printed: 5,069,867. Filing ↗machine: span 693146–693155
31Commercial Vehicle Group, Section 10b CEO totalDEF 14A2026-04-270001628280-26-027295CEO total compensation as printed in Commercial Vehicle Group's own proxy. As printed: 3,949,428. Filing ↗machine: r3 · c45 · span 663533–663542
32Stoneridge, Inc., Section 10b CEO totalDEF 14A2026-04-090001043337-26-000038CEO total compensation as printed in Stoneridge, Inc.'s own proxy. As printed: 3,593,069. Filing ↗machine: span 569049–569058
33Helios Technologies, Inc., Section 10b CEO totalDEF 14A2026-05-040001193125-26-204115CEO total compensation as printed in Helios Technologies, Inc.'s own proxy. As printed: 3,383,351. Filing ↗machine: r2 · c31 · span 1486387–1486396
34CECO Environmental Corp, Section 10b CEO totalDEF 14A2025-04-100001558370-25-004649CEO total compensation as printed in CECO Environmental Corp's own proxy. As printed: 3,051,771. Filing ↗machine: t106 · r5 · c17 · span 876582–876591
35Douglas Dynamics Inc.., Section 10b CEO totalDEF 14A2026-03-200001437749-26-009126CEO total compensation as printed in Douglas Dynamics Inc..'s own proxy. As printed: 3,008,565. Filing ↗machine: t83 · r2 · c29 · span 498646–498655
36Hurco Companies, Inc., Section 10b CEO totalDEF 14A2026-01-280001104659-26-007238CEO total compensation as printed in Hurco Companies, Inc.'s own proxy. As printed: 2,023,603. Filing ↗machine: r1 · c41 · span 754495–754504
37Core Molding Technologies (subject), Section 10b CEO totalDEF 14A2026-04-060001026655-26-000019CEO total compensation as printed in Core Molding Technologies's own proxy. As printed: 1,571,116. Filing ↗
38Section 10a, CECO Environmental Corp reciprocityDEF 14A0001558370-25-004649CECO Environmental Corp's most recent proxy was read; its disclosed peer group does not include Core Molding Technologies. Filing ↗
39Section 10a, Douglas Dynamics Inc.. reciprocityDEF 14A0001437749-26-009126Douglas Dynamics Inc..'s most recent proxy was read; its disclosed peer group does not include Core Molding Technologies. Filing ↗
40Section 10a, Gentherm Incorporated reciprocityDEF 14A0001140361-26-012756Gentherm Incorporated's most recent proxy was read; its disclosed peer group does not include Core Molding Technologies. Filing ↗
41Section 10a, Dorman Product Inc. reciprocityDEF 14A0001140361-26-013339Dorman Product Inc.'s most recent proxy was read; its disclosed peer group does not include Core Molding Technologies. Filing ↗
42Section 10a, UFP Technologies, Inc. reciprocityDEF 14A0001628280-26-028710UFP Technologies, Inc.'s most recent proxy was read; its disclosed peer group does not include Core Molding Technologies. Filing ↗
43Section 10a, Helios Technologies, Inc. reciprocityDEF 14A0001193125-26-204115Helios Technologies, Inc.'s most recent proxy was read; its disclosed peer group does not include Core Molding Technologies. Filing ↗
44Section 10a, The Eastern Company reciprocityDEF 14A0001193125-26-126283The Eastern Company's most recent proxy was read; its disclosed peer group does not include Core Molding Technologies. Filing ↗
45Section 10a, Stoneridge, Inc. reciprocityDEF 14A0001043337-26-000038Stoneridge, Inc.'s most recent proxy was read; its disclosed peer group does not include Core Molding Technologies. Filing ↗
46Section 10a, Commercial Vehicle Group reciprocityDEF 14A0001628280-26-027295Commercial Vehicle Group's most recent proxy was read; its disclosed peer group does not include Core Molding Technologies. Filing ↗
47Section 10a, Strattec Security Corp. reciprocityDEF 14A0000950170-25-114215Strattec Security Corp.'s most recent proxy was read; its disclosed peer group does not include Core Molding Technologies. Filing ↗