CEO Keith Creel was paid $25,655,819 in 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.
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.
Buy the report for CP
The free brief above is the whole reading. Each report is the same data as a presentation-ready document, generated for this company at the moment of purchase.
Order CP
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
Each company listed discloses CP 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 CP in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Keith Creel | $1,887,030 | — | $12,022,313 | $6,780,204 | $3,761,742 | $875,761 | $328,769 | $25,655,819 |
| President and Chief Executive Officer | ||||||||
| Nadeem Velani | 1,119,750 | — | 2,714,432 | 1,809,626 | 1,228,169 | 373,846 | 69,053 | 7,314,876 |
| Executive Vice-President and Chief Financial Officer | ||||||||
| John Brooks | 1,032,974 | — | 2,383,098 | 1,588,702 | 1,200,522 | 181,632 | 113,895 | 6,500,823 |
| Executive Vice-President and Chief Marketing Officer | ||||||||
| Mark Redd | 1,023,975 | — | 2,344,144 | 1,532,798 | 1,190,005 | 212,526 | 125,410 | 6,428,858 |
| Executive Vice-President and Chief Operating Officer | ||||||||
| James Clements | 659,784 | — | 1,571,772 | 867,023 | 724,224 | 382,000 | 57,135 | 4,261,938 |
| Executive Vice-President Strategic Planning and Corporate Services | ||||||||
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 |
|---|---|---|---|---|
| Keith Creel | $25,655,819 | $23,572,602 | $20,079,552 | +2,083,217 |
| Nadeem Velani | 7,314,876 | 7,468,935 | 11,925,165 | −154,059 |
| John Brooks | 6,500,823 | 6,918,654 | 10,641,918 | −417,831 |
| Mark Redd | 6,428,858 | 6,719,459 | 10,359,887 | −290,601 |
| James Clements | 4,261,938 | 4,726,899 | 6,443,570 | −464,961 |
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.
Our executive compensation program is designed to pay for performance, to align management interests with our business strategy and the interests of our shareholders, and to engage and retain our executives. It supports an operations-focused culture, is linked to critical metrics that drive strategic achievement without undue risk, and creates long-term sustainable value through a significant emphasis on incentive-driven, at-risk pay.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Frederic W. Cook & Co., Inc. (FW Cook) |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-04-29 | 619,719,132 | 88,693,966 | 0 | 87.48% | Passed |
| 2025 | 2025-04-30 | 646,115,614 | 90,257,305 | 0 | 87.74% | Passed |
| 2024 | 2024-04-24 | 693,562,741 | 43,869,121 | 0 | 94.05% | Passed |
| 2023 | 2023-06-15 | 689,561,345 | 29,119,185 | 0 | 95.95% | Passed |
| 2022 | 2022-04-27 | 677,344,210 | 54,770,484 | 0 | 92.52% | Passed |
| 2021 | 2021-04-21 | 102,334,477 | 3,546,268 | 0 | 96.65% | 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 | 2026-04-29 | 87.48%a |
| 2025 | 2025-04-30 | 87.74%b |
| 2024 | 2024-04-24 | 94.05%c |
a. Voting standard not stated in the filing.
b. Voting standard not stated in the filing.
c. 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.
| Ratio (CEO : median employee) | 183 : 1 |
|---|---|
| CEO total compensation | — |
| Median employee compensation | $155,548 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Isabelle CourvilleIndependent · Board Chair · Audit and Finance · Management Resources and Compensation | $353,190 | $353,190 | — | — | $1,000 | $707,380 |
| Matthew PaullIndependent · Audit and Finance · Management Resources and Compensation (Chair) | 0 | 466,036 | — | — | 1,398 | 467,434 |
| Janet KennedyIndependent · Audit and Finance (Chair) | 0 | 466,036 | — | — | 1,398 | 467,434 |
| Amb. Antonio Garza (Ret)Independent | 0 | 410,124 | — | — | 51,719 | 461,843 |
| Gordon TraftonIndependent · Management Resources and Compensation | 226,029 | 226,029 | — | — | 1,398 | 453,456 |
| Hon. Edward HambergerIndependent | 0 | 452,058 | — | — | 1,398 | 453,456 |
| Hon. John Baird, P.CIndependent | 0 | 449,343 | — | — | 1,000 | 450,343 |
| Arturo Gutiérrez HernándezIndependent · Audit and Finance | 0 | 410,124 | — | — | 1,398 | 411,522 |
| Henry MaierIndependent · Audit and Finance · Management Resources and Compensation | 205,062 | 205,062 | — | — | 1,398 | 411,522 |
| Andrea RobertsonIndependent · Management Resources and Compensation | 203,822 | 203,822 | — | — | 1,000 | 408,644 |
| Jane PeverettIndependent · Audit and Finance | 203,822 | 203,822 | — | — | 1,000 | 408,644 |
| Keith CreelEmployee director | — | — | — | — | — | 0 |
| Katharine StevensonIndependent · Newly elected | — | — | — | — | — | — |
| Marc ParentIndependent · Newly elected | — | — | — | — | — | — |
| Annual cash retainer | $300,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 40,000 / 40,000 / 30,000 |
| Stock ownership guideline | $5 |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $1,191,925 |
| Equity awards (grant-date value) | $3,845,646 |
| All other compensation | $64,107 |
| Total cost of the board | $5,101,678 |
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 Canadian Pacific Kansas City 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 Canadian Pacific Kansas City.
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 | Norfolk Southern Corporation | 2025 | Christopher Womack | $1,560,577 | $13,830,054 | $0 | $3,665,025 | $28,223,562 |
| 2 | FedEx Corporation | 2026 | Rajesh Subramaniam | 1,550,000 | 6,731,364 | 3,715,062 | 10,593,500 | 27,554,018 |
| 3 | Canadian Pacific Kansas City | 2025 | Keith Creel | 1,887,030 | 12,022,313 | 6,780,204 | 3,761,742 | 25,655,819 |
| 4 | Suncor Energy Inc. | 2025 | Jack Fusco | 1,765,385 | 19,291,784 | 0 | 4,569,600 | 25,647,769 |
| 5 | United Parcel Service Inc. | 2025 | Carol Tomé | 1,509,713 | 17,550,546 | 1,358,754 | 2,264,569 | 22,878,788 |
| 6 | Cenovus Energy Inc. | 2025 | Lawrence Coben | 1,473,423 | 16,764,473 | 0 | 3,505,230 | 21,788,422 |
| 7 | Union Pacific Corporation | 2025 | V. James Vena | 1,475,000 | 9,000,130 | 6,000,003 | 3,437,250 | 20,296,362 |
| 8 | Republic Services Inc. | 2025 | Jon Vander Ark | 1,302,692 | 11,124,489 | 0 | 1,982,664 | 14,857,016 |
| 9 | CSX Corporation | 2025 | Stephen Angel | 386,364 | 5,385,342 | 5,248,065 | 513,863 | 11,711,612 |
| 10 | Old Dominion Freight Line Inc. | 2025 | Kevin Freeman | 1,033,680 | 2,377,606 | 0 | 8,167,847 | 11,615,896 |
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 |
|---|---|---|---|---|
| Canadian Pacific Kansas City | not disclosed | PSU 60 · Option 40 | not disclosed | Frederic W. Cook & Co., Inc. (FW Cook) |
| Cenovus Energy Inc. | 158% | PSU 67 · RSU 33 | Yes — Relative TSR vs S&P 500 constituents | Pay Governance |
| CSX Corporation | not disclosed | PSU 60 · Option 20 · RSU 20 | not disclosed | Pay Governance, LLC |
| FedEx Corporation | 112.5% | not disclosed | Yes — Relative TSR (FY24-FY26 LTI Cash Plan) | Meridian Compensation Partners, LLC |
| Norfolk Southern Corporation | 179% | not disclosed | Yes — Relative TSR | Pay Governance |
| Old Dominion Freight Line Inc. | not disclosed | not disclosed | Yes — Three-year relative TSR compared to companies in the Dow Jones Transportation Average | Pearl Meyer |
| Republic Services Inc. | 91.79% | PSU 80 · RSU 20 | No | Pearl Meyer & Partners, LLC |
| Suncor Energy Inc. | 160% | PSU 50 · RSU 50 | Yes — ATSR | Meridian |
| Union Pacific Corporation | 138% | PSU 60 · Options 40 | No | Pay Governance |
| United Parcel Service Inc. | 75% | PSU 93 · Options 7 | Yes — Relative Total Shareowner Return (RTSR) | FW Cook |
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.
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, Keith Creel | DEF 14A | 2026-04-23 | 0001193125-26-173665 | Section “Summary Compensation Table”. As printed: 25,655,819. Filing ↗ |
| 2 | Section 01, Nadeem Velani | DEF 14A | 2026-04-23 | 0001193125-26-173665 | Section “Summary Compensation Table”. As printed: 7,314,876. Filing ↗ |
| 3 | Section 01, John Brooks | DEF 14A | 2026-04-23 | 0001193125-26-173665 | Section “Summary Compensation Table”. As printed: 6,500,823. Filing ↗ |
| 4 | Section 01, Mark Redd | DEF 14A | 2026-04-23 | 0001193125-26-173665 | Section “Summary Compensation Table”. As printed: 6,428,858. Filing ↗ |
| 5 | Section 01, James Clements | DEF 14A | 2026-04-23 | 0001193125-26-173665 | Section “Summary Compensation Table”. As printed: 4,261,938. Filing ↗ |
| 6 | Section 07, pay ratio | DEF 14A | 2026-04-23 | 0001193125-26-173665 | Section “CEO Pay Ratio”. As printed: 183 : 1. Filing ↗machine: span 1315725–1315728 |
| 7 | Section 08, Isabelle Courville | DEF 14A | 2026-04-23 | 0001193125-26-173665 | Section “Director Compensation”. As printed: 707,380. Filing ↗machine: span 1349376–1349506 |
| 8 | Section 08, Matthew Paull | DEF 14A | 2026-04-23 | 0001193125-26-173665 | Section “Director Compensation”. As printed: 467,434. Filing ↗machine: span 1375267–1375397 |
| 9 | Section 08, Janet Kennedy | DEF 14A | 2026-04-23 | 0001193125-26-173665 | Section “Director Compensation”. As printed: 467,434. Filing ↗machine: span 1366674–1366804 |
| 10 | Section 08, Amb. Antonio Garza (Ret) | DEF 14A | 2026-04-23 | 0001193125-26-173665 | Section “Director Compensation”. As printed: 461,843. Filing ↗machine: span 1353733–1353863 |
| 11 | Section 08, Gordon Trafton | DEF 14A | 2026-04-23 | 0001193125-26-173665 | Section “Director Compensation”. As printed: 453,456. Filing ↗machine: span 1388147–1388277 |
| 12 | Section 08, Hon. Edward Hamberger | DEF 14A | 2026-04-23 | 0001193125-26-173665 | Section “Director Compensation”. As printed: 453,456. Filing ↗machine: span 1362354–1362484 |
| 13 | Section 08, Hon. John Baird, P.C | DEF 14A | 2026-04-23 | 0001193125-26-173665 | Section “Director Compensation”. As printed: 450,343. Filing ↗machine: span 1345045–1345175 |
| 14 | Section 08, Arturo Gutiérrez Hernández | DEF 14A | 2026-04-23 | 0001193125-26-173665 | Section “Director Compensation”. As printed: 411,522. Filing ↗machine: span 1358076–1358206 |
| 15 | Section 08, Henry Maier | DEF 14A | 2026-04-23 | 0001193125-26-173665 | Section “Director Compensation”. As printed: 411,522. Filing ↗machine: span 1370948–1371078 |
| 16 | Section 08, Andrea Robertson | DEF 14A | 2026-04-23 | 0001193125-26-173665 | Section “Director Compensation”. As printed: 408,644. Filing ↗machine: span 1383871–1384001 |
| 17 | Section 08, Jane Peverett | DEF 14A | 2026-04-23 | 0001193125-26-173665 | Section “Director Compensation”. As printed: 408,644. Filing ↗machine: span 1379543–1379673 |
| 18 | Section 08, Keith Creel | DEF 14A | 2026-04-23 | 0001193125-26-173665 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 19 | Section 08, Katharine Stevenson | DEF 14A | 2026-04-23 | 0001193125-26-173665 | Section “Director Compensation”. As printed: —. Filing ↗ |
| 20 | Section 08, Marc Parent | DEF 14A | 2026-04-23 | 0001193125-26-173665 | Section “Director Compensation”. As printed: —. Filing ↗ |
| 21 | Section 06, 2026 vote | Form 8-K | 2026-04-30 | 0001193125-26-197150 | Item 5.07 · say-on-pay result. As reported: 87.48% (votes for as printed: 619,719,132 (87.48%)). Filing ↗ |
| 22 | Section 06, 2025 vote | Form 8-K | 2025-05-02 | 0001193125-25-111594 | Item 5.07 · say-on-pay result. As reported: 87.74% (votes for as printed: 646,115,614 (87.74%)). Filing ↗ |
| 23 | Section 06, 2024 vote | Form 8-K | 2024-04-25 | 0001193125-24-113921 | Item 5.07 · say-on-pay result. As reported: 94.05% (votes for as printed: 693,562,741 (94.05%)). Filing ↗ |
| 24 | 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) |
| 25 | Section 09b board cost (computed) | Computed | — | — | Cash 1,191,925 + equity 3,845,646 + all other 64,107 = 5,101,678, summed across the director compensation table rows.machine: formula: Σ = 5,101,678 |
| 26 | Norfolk Southern Corporation, Section 10b CEO total | DEF 14A | 2026-04-03 | 0000092122-26-000028 | CEO total compensation as printed in Norfolk Southern Corporation's own proxy. As printed: 28,223,562. Filing ↗machine: r2 · c21 · span 1349281–1349291 |
| 27 | FedEx Corporation, Section 10b CEO total | DEF 14A | 2026-08-17 | 0001104659-26-097836 | CEO total compensation as printed in FedEx Corporation's own proxy. As printed: 27,554,018. Filing ↗machine: r1 · c54 · span 1409491–1409501 |
| 28 | Canadian Pacific Kansas City (subject), Section 10b CEO total | DEF 14A | 2026-04-23 | 0001193125-26-173665 | CEO total compensation as printed in Canadian Pacific Kansas City's own proxy. As printed: 25,655,819. Filing ↗ |
| 29 | Suncor Energy Inc., Section 10b CEO total | DEF 14A | 2026-04-07 | 0001193125-26-144572 | CEO total compensation as printed in Suncor Energy Inc.'s own proxy. As printed: 25,647,769. Filing ↗machine: t411 · r3 · c27 · span 1229633–1229643 |
| 30 | United Parcel Service Inc., Section 10b CEO total | DEF 14A | 2026-03-19 | 0001628280-26-019856 | CEO total compensation as printed in United Parcel Service Inc.'s own proxy. As printed: 22,878,788. Filing ↗machine: r2 · c27 · span 899122–899132 |
| 31 | Cenovus Energy Inc., Section 10b CEO total | DEF 14A | 2026-03-18 | 0001104659-26-030844 | CEO total compensation as printed in Cenovus Energy Inc.'s own proxy. As printed: 21,788,422. Filing ↗machine: t178 · r1 · c48 · span 1523683–1523693 |
| 32 | Union Pacific Corporation, Section 10b CEO total | DEF 14A | 2026-03-25 | 0000100885-26-000098 | CEO total compensation as printed in Union Pacific Corporation's own proxy. As printed: 20,296,362. Filing ↗machine: span 1158158–1158168 |
| 33 | Republic Services Inc., Section 10b CEO total | DEF 14A | 2026-03-24 | 0001193125-26-121796 | CEO total compensation as printed in Republic Services Inc.'s own proxy. As printed: 14,857,016. Filing ↗machine: t333 · r3 · c29 · span 1371801–1371811 |
| 34 | CSX Corporation, Section 10b CEO total | DEF 14A | 2026-03-30 | 0001628280-26-021944 | CEO total compensation as printed in CSX Corporation's own proxy. As printed: 11,711,612. Filing ↗machine: r2 · c27 · span 1506353–1506363 |
| 35 | Old Dominion Freight Line Inc., Section 10b CEO total | DEF 14A | 2026-04-20 | 0000878927-26-000006 | CEO total compensation as printed in Old Dominion Freight Line Inc.'s own proxy. As printed: 11,615,896. Filing ↗machine: t7 · r4 · c12 · span 336288–336298 |
| 36 | Section 10a, Cenovus Energy Inc. reciprocity | DEF 14A | — | 0001104659-26-030844 | Cenovus Energy Inc.'s most recent proxy was read; its disclosed peer group does not include Canadian Pacific Kansas City. Filing ↗ |
| 37 | Section 10a, Old Dominion Freight Line Inc. reciprocity | DEF 14A | — | 0000878927-26-000006 | Old Dominion Freight Line Inc. names Canadian Pacific Kansas City in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 38 | Section 10a, United Parcel Service Inc. reciprocity | DEF 14A | — | 0001628280-26-019856 | United Parcel Service Inc.'s most recent proxy was read; its disclosed peer group does not include Canadian Pacific Kansas City. Filing ↗ |
| 39 | Section 10a, CSX Corporation reciprocity | DEF 14A | — | 0001628280-26-021944 | CSX Corporation names Canadian Pacific Kansas City in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 40 | Section 10a, Suncor Energy Inc. reciprocity | DEF 14A | — | 0001193125-26-144572 | Suncor Energy Inc.'s most recent proxy was read; its disclosed peer group does not include Canadian Pacific Kansas City. Filing ↗ |
| 41 | Section 10a, Union Pacific Corporation reciprocity | DEF 14A | — | 0000100885-26-000098 | Union Pacific Corporation's most recent proxy was read; its disclosed peer group does not include Canadian Pacific Kansas City. Filing ↗ |
| 42 | Section 10a, Norfolk Southern Corporation reciprocity | DEF 14A | — | 0000092122-26-000028 | Norfolk Southern Corporation's most recent proxy was read; its disclosed peer group does not include Canadian Pacific Kansas City. Filing ↗ |
Track this company's pay every filing: join the Pro seat waitlist
Velarion Pro: every company page, peer tools and exports, one seat