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Companies Carpenter Technology

Carpenter Technology (CRS): executive pay, fiscal 2026

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CEO total pay$12,393,230CEO Tony Thene · source
Say-on-pay support97.29%Latest vote · source
CEO vs. named peers75th pct.Of 17 peer CEOs
CEO pay ratio62:1To the median employee · source

CEO pay, last three years

  • $7,323,374FY2024
  • $8,416,878FY2025
  • $12,393,230FY2026

CEO total pay was $12,393,230 in fiscal 2026, up from $8,416,878 in fiscal 2025.

FY2026: salary $1,055,356 · bonus $0 · stock awards $8,250,418 · option awards $0

Executives and directors

Frequently asked questions

Who was the highest-paid executive at Carpenter Technology in fiscal 2026?
As disclosed, Tony Thene (Chairman and Chief Executive Officer) was the highest-paid executive at Carpenter Technology in fiscal 2026, with total compensation of $12,393,230.
How does Carpenter Technology's chief executive pay compare to its disclosed peer group?
As disclosed, Tony Thene's total compensation ranked at the 75th percentile of Carpenter Technology's disclosed peer group.
What is Carpenter Technology's CEO-to-median employee pay ratio?
As disclosed, Carpenter Technology's CEO-to-median employee pay ratio was 62:1.
How did shareholders vote on Carpenter Technology's executive compensation?
As disclosed, 97.29% of shareholders supported Carpenter Technology's executive compensation in the latest say-on-pay vote.
How much does Carpenter Technology spend in total on board compensation for fiscal 2026?
As disclosed, Carpenter Technology reported total board compensation of $2,582,284 for fiscal 2026.

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.

Full detail

Every table from the filing. Open any section.

Summary compensation table
Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Tony Thene$1,055,356$0$8,250,418$0$2,924,784$0$162,672$12,393,230
Chairman and Chief Executive Officer
Brian Malloy590,73201,500,29801,175,655093,3393,360,024
President and Chief Operating Officer
Timothy Lain593,86801,300,42001,051,3182,73486,7613,035,101
Sr. Vice President and Chief Financial Officer
Marshall Akins500,17101,000,3600831,697062,4582,394,686
Vice President and Chief Commercial Officer
James Dee517,1130800,4820745,21929,17469,9312,161,919
Sr. Vice President, General Counsel and Secretary

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 officerFY2026 totalFY2025 totalFY2024 totalΔ FY2025→2026
Tony Thene$12,393,230$8,416,878$7,323,374↑ +3,976,352
Brian Malloy3,360,0242,713,7162,308,326↑ +646,308
Timothy Lain3,035,1012,820,5172,393,157↑ +214,584
Marshall Akins2,394,6862,222,3531,922,099↑ +172,333
James Dee2,161,9192,068,8071,809,674↑ +93,112

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

Incentive-plan design — the Compensation Discussion & Analysis

The overarching goal of the executive compensation program is to drive long-term high performance and stockholder value creation through strong ties to performance in pay levels, incentive payouts, and pay opportunities. The program is designed to attract and retain outstanding leaders, motivate them to achieve specified business and financial goals, and link a significant portion of total compensation to the value of the Company's stock.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantKorn Ferry
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
Equity grants and outstanding awards

Grants of plan-based awards — fiscal year 2026

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Marshall AkinsPSU2025-08-151,0292,057—4,114$500,180
Marshall AkinsRSU2025-08-15——2,057—500,180
James DeePSU2025-08-158231,646—3,292400,241
James DeeRSU2025-08-15——1,646—400,241
Timothy LainPSU2025-08-151,3372,674—5,348650,210
Timothy LainRSU2025-08-15——2,674—650,210
Brian MalloyPSU2025-08-151,5433,085—6,170750,149
Brian MalloyRSU2025-08-15——3,085—750,149
Tony ThenePSU2025-08-158,48316,965—33,9304,125,209
Tony TheneRSU2025-08-15——16,965—4,125,209

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Marshall Akins$500,180$500,180$050.0%
James Dee400,241400,241050.0%
Timothy Lain650,210650,210050.0%
Brian Malloy750,149750,149050.0%
Tony Thene4,125,2094,125,209050.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

No outstanding equity awards are on file for this fiscal year.

Director compensation
DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Stephen M. Ward JrIndependent · Lead Independent Director · Corporate Governance (Chair) · Human Capital Management$118,125$142,742$35,057—$61,468$358,011
Steven E. KarolIndependent · Corporate Governance · Human Capital Management · Strategy (Chair)95,625142,74235,057—32,602306,026
Charles D. McLane JrIndependent · Audit/Finance (Chair) · Strategy105,625142,74235,057—19,814303,238
Kathleen LigockiIndependent · Corporate Governance · Human Capital Management (Chair) · Strategy98,125142,74235,057—20,386296,310
A. John HartIndependent · Audit/Finance · Science, Technology and Sustainability (Co-Chair)95,625142,74235,057—17,269290,693
Viola L. AcoffIndependent · Corporate Governance · Human Capital Management · Science, Technology and Sustainability (Co-Chair)95,625142,74235,057—17,144290,568
Ramin YounessiIndependent · Audit/Finance · Science, Technology and Sustainability80,625142,74235,057—8,313268,530
Colleen S. PritchettIndependent · Corporate Governance · Human Capital Management · Science, Technology and Sustainability · Not standing for re-election80,625142,74235,057—3,176261,600
Howard H. YuIndependent · Audit/Finance · Science, Technology and Sustainability · Departed during FY80,625142,74235,057—891259,315
Julie A. BeckIndependent · Audit/Finance · Strategy80,625142,74235,057—552258,976
I. Martin InglisIndependent27,50000—14,49941,999

Board fee structure and ownership guideline

Annual cash retainer$82,500
Annual equity retainer$82,500
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)25,000 / 17,500 / 15,000
Stock ownership guideline$6

Total cost of the board

ComponentFY2026
Cash retainers and fees$958,750
Equity awards (grant-date value)$1,427,420
All other compensation$196,114
Total cost of the board$2,582,284

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

Peer group, and who names Carpenter Technology as a peer

Companies that benchmark against CRS

16 companies name CRS as a compensation peer

The list of companies that name CRS as a peer is temporarily unavailable — recheck shortly.

Disclosed peer group — fiscal year 2026

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

Peer reciprocity

The companies Carpenter Technology names as compensation peers that name it back in their own disclosed peer groups.

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
1Howmet Aerospace Inc.2025John Plant$1,800,000$62,100,218$0$6,300,000$70,547,718
2BWX Technologies, Inc.2025Rex Geveden1,100,0006,736,9285,333,2422,110,00015,742,833
3ITT Inc.2025Luca Savi1,190,38611,073,03302,575,80015,104,378
4Curtiss-Wright Corporation2025Lynn Bamford1,090,3854,004,00005,139,70014,135,280
5Carpenter Technology2026Tony Thene1,055,3568,250,41802,924,78412,393,230
6Woodward, Inc.2025Charles Blankenship, Jr.1,177,8875,898,69602,895,10010,482,876
7Axalta Coating Systems Ltd.2025Chris Villavarayan1,100,0007,389,5520973,3919,551,721
8Cabot Corporation2025Sean Keohane1,100,0004,224,8472,274,9251,402,5019,307,883
9Moog Inc.2025Pat Roche1,087,9323,063,39801,251,6388,404,872
10Kaiser Aluminum Corporation2025Keith Harvey1,000,0004,212,18802,127,5007,914,836
11Valmont Industries, Inc.2025Avner Applbaum1,052,0003,961,8171,423,4351,143,2617,762,266
12Minerals Technologies Inc.2025Douglas Dietrich1,050,0002,310,022768,8032,891,1607,405,693
13Kennametal Inc.2026Sanjay Chowbey937,1414,776,510—1,511,4967,356,246
14Hexcel Corporation2025Thomas Gentile III1,100,0003,374,9611,685,259923,2307,252,875
15Century Aluminum Company2025Jesse Gary980,3853,827,93101,636,8007,166,252
16Materion Corporation2025Jugal Vijayvargiya982,6932,960,100779,92104,794,902
17Quaker Chemical Corporation2025Joseph Berquist800,0002,420,3190461,8403,709,451

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.

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Carpenter Technologynot disclosedPRSU 50 · RSU 50Yes — Total Stockholder Return (TSR)Korn Ferry
Axalta Coating Systems Ltd.71.7%not disclosedYes — Relative TSRPearl Meyer
BWX Technologies, Inc.153.5%PSU 60 · RSU 20 · Options 20NoExequity
Cabot Corporation90%not disclosedNoMeridian Compensation Partners
Century Aluminum Companynot disclosednot disclosednot disclosedFrederic W. Cook & Co., Inc.
Curtiss-Wright Corporationnot disclosedPSU 40 · Cash LTI 30 · RSU 30Yes — Three-year relative TSR against the peer groupFrederic W. Cook & Co., Inc.
Hexcel Corporation76.3%not disclosedNoSemler Brossy
Howmet Aerospace Inc.200%PRSU 60 · RSU 40Yes — Relative TSRCompensation Advisory Partners LLC
ITT Inc.159%PSU 60 · RSU 40Yes — Relative TSRPay Governance
Kaiser Aluminum Corporationnot disclosednot disclosednot disclosedMeridian
Kennametal Inc.not disclosedPSU 60 · RSU 40NoPay Governance
Materion Corporationnot disclosedPSU 75NoFrederic W. Cook & Co., Inc.
Minerals Technologies Inc.not disclosednot disclosednot disclosedFW Cook
Moog Inc.114.0%not disclosedNoKorn Ferry
Quaker Chemical Corporationnot disclosedPSU 60 · RSU 40not disclosedMeridian Compensation Partners
Valmont Industries, Inc.94.6%Option 50 · RSU 50NoFW Cook
Woodward, Inc.127%RSU 50 · PSU 50Yes — Total Shareholder Return (TSR) relative to S&P MidCap 400 IndexFW 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.

Say-on-pay history and pay ratio
Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20252025-10-0740,715,5971,134,56196,74997.29%Passed
20242024-10-0743,630,676591,22258,31698.66%Passed
20232023-10-1041,789,938584,875253,08098.62%Passed
20222022-10-1140,469,310525,14954,69598.72%Passed
20212021-10-1241,545,8111,144,964139,39197.32%Passed
20202020-10-1337,109,8453,241,19685,80991.97%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
20252025-10-0797.29%a
20242024-10-0798.66%b
20232023-10-1098.62%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.

CEO pay ratio

Ratio (CEO : median employee)62 : 1
CEO total compensation—
Median employee compensation$103,519
Insider trades since the proxy

No insider equity transactions reported since the proxy statement.

Sources (53 citations)

Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.

  • Section 01, Tony Thene. DEF 14A, filed 2026-09-11. Section “Executive Compensation” · page 71. As printed: 12,393,230. View filing ↗
  • Section 01, Brian Malloy. DEF 14A, filed 2026-09-11. Section “Executive Compensation”. As printed: 3,360,024. View filing ↗
  • Section 01, Timothy Lain. DEF 14A, filed 2026-09-11. Section “Executive Compensation”. As printed: 3,035,101. View filing ↗
  • Section 01, Marshall Akins. DEF 14A, filed 2026-09-11. Section “Executive Compensation”. As printed: 2,394,686. View filing ↗
  • Section 01, James Dee. DEF 14A, filed 2026-09-11. Section “Executive Compensation”. As printed: 2,161,919. View filing ↗
  • Section 03, Marshall Akins PSU. DEF 14A, filed 2026-09-11. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Marshall Akins RSU. DEF 14A, filed 2026-09-11. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, James Dee PSU. DEF 14A, filed 2026-09-11. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, James Dee RSU. DEF 14A, filed 2026-09-11. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Timothy Lain PSU. DEF 14A, filed 2026-09-11. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Timothy Lain RSU. DEF 14A, filed 2026-09-11. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Brian Malloy PSU. DEF 14A, filed 2026-09-11. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Brian Malloy RSU. DEF 14A, filed 2026-09-11. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Tony Thene PSU. DEF 14A, filed 2026-09-11. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Tony Thene RSU. DEF 14A, filed 2026-09-11. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 07, pay ratio. DEF 14A, filed 2023-09-15. Section “CEO Pay Ratio”. As printed: 62 : 1. View filing ↗
  • Section 08, Stephen M. Ward Jr. DEF 14A, filed 2026-09-11. Section “Director Compensation”. As printed: 358,011. View filing ↗
  • Section 08, Steven E. Karol. DEF 14A, filed 2026-09-11. Section “Director Compensation”. As printed: 306,026. View filing ↗
  • Section 08, Charles D. McLane Jr. DEF 14A, filed 2026-09-11. Section “Director Compensation”. As printed: 303,238. View filing ↗
  • Section 08, Kathleen Ligocki. DEF 14A, filed 2026-09-11. Section “Director Compensation”. As printed: 296,310. View filing ↗
  • Section 08, A. John Hart. DEF 14A, filed 2026-09-11. Section “Director Compensation”. As printed: 290,693. View filing ↗
  • Section 08, Viola L. Acoff. DEF 14A, filed 2026-09-11. Section “Director Compensation”. As printed: 290,568. View filing ↗
  • Section 08, Ramin Younessi. DEF 14A, filed 2026-09-11. Section “Director Compensation”. As printed: 268,530. View filing ↗
  • Section 08, Colleen S. Pritchett. DEF 14A, filed 2026-09-11. Section “Director Compensation”. As printed: 261,600. View filing ↗
  • Section 08, Howard H. Yu. DEF 14A, filed 2026-09-11. Section “Director Compensation”. As printed: 259,315. View filing ↗
  • Section 08, Julie A. Beck. DEF 14A, filed 2026-09-11. Section “Director Compensation”. As printed: 258,976. View filing ↗
  • Section 08, I. Martin Inglis. DEF 14A, filed 2026-09-11. Section “Director Compensation”. As printed: 41,999. View filing ↗
  • Section 06, 2025 vote. Form 8-K, filed 2025-10-08. Item 5.07 · say-on-pay result. As reported: 97.29% (votes for as printed: 40,715,597). View filing ↗
  • Section 06, 2024 vote. Form 8-K, filed 2024-10-09. Item 5.07 · say-on-pay result. As reported: 98.66% (votes for as printed: 43,630,676). View filing ↗
  • Section 06, 2023 vote. Form 8-K, filed 2023-10-12. Item 5.07 · say-on-pay result. As reported: 98.62% (votes for as printed: 41,789,938). View filing ↗
  • Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
  • Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
  • Section 09b board cost (computed). Computed. Cash 958,750 + equity 1,427,420 + all other 196,114 = 2,582,284, summed across the director compensation table rows.
  • Howmet Aerospace Inc., Section 10b CEO total. DEF 14A, filed 2026-04-06. CEO total compensation as printed in Howmet Aerospace Inc.'s own proxy. As printed: 70,547,718. View filing ↗
  • BWX Technologies, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-18. CEO total compensation as printed in BWX Technologies, Inc.'s own proxy. As printed: 15,742,833. View filing ↗
  • ITT Inc., Section 10b CEO total. DEF 14A, filed 2026-04-03. CEO total compensation as printed in ITT Inc.'s own proxy. As printed: 15,104,378. View filing ↗
  • Curtiss-Wright Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-26. CEO total compensation as printed in Curtiss-Wright Corporation's own proxy. As printed: 14,135,280. View filing ↗
  • Carpenter Technology (subject), Section 10b CEO total. DEF 14A, filed 2026-09-11. CEO total compensation as printed in Carpenter Technology's own proxy. As printed: 12,393,230. View filing ↗
  • Woodward, Inc., Section 10b CEO total. DEF 14A, filed 2025-12-12. CEO total compensation as printed in Woodward, Inc.'s own proxy. As printed: 10,482,876. View filing ↗
  • Axalta Coating Systems Ltd., Section 10b CEO total. DEF 14A, filed 2026-04-21. CEO total compensation as printed in Axalta Coating Systems Ltd.'s own proxy. As printed: 9,551,721. View filing ↗
  • Cabot Corporation, Section 10b CEO total. DEF 14A, filed 2026-01-27. CEO total compensation as printed in Cabot Corporation's own proxy. As printed: 9,307,883. View filing ↗
  • Moog Inc., Section 10b CEO total. DEF 14A, filed 2025-12-19. CEO total compensation as printed in Moog Inc.'s own proxy. As printed: 8,404,872. View filing ↗
  • Kaiser Aluminum Corporation, Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in Kaiser Aluminum Corporation's own proxy. As printed: 7,914,836. View filing ↗
  • Valmont Industries, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-11. CEO total compensation as printed in Valmont Industries, Inc.'s own proxy. As printed: 7,762,266. View filing ↗
  • Minerals Technologies Inc., Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in Minerals Technologies Inc.'s own proxy. As printed: 7,405,693. View filing ↗
  • Kennametal Inc., Section 10b CEO total. DEF 14A, filed 2026-09-14. CEO total compensation as printed in Kennametal Inc.'s own proxy. As printed: 7,356,246. View filing ↗
  • Hexcel Corporation, Section 10b CEO total. DEF 14A, filed 2026-04-01. CEO total compensation as printed in Hexcel Corporation's own proxy. As printed: 7,252,875. View filing ↗
  • Century Aluminum Company, Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in Century Aluminum Company's own proxy. As printed: 7,166,252. View filing ↗
  • Materion Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-26. CEO total compensation as printed in Materion Corporation's own proxy. As printed: 4,794,902. View filing ↗
  • Quaker Chemical Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-31. CEO total compensation as printed in Quaker Chemical Corporation's own proxy. As printed: 3,709,451. View filing ↗
  • Section 10a, Kaiser Aluminum Corporation reciprocity. DEF 14A. Kaiser Aluminum Corporation names Carpenter Technology in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Century Aluminum Company reciprocity. DEF 14A. Century Aluminum Company names Carpenter Technology in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Materion Corporation reciprocity. DEF 14A. Materion Corporation names Carpenter Technology in its own disclosed peer group (read from its most recent proxy). View filing ↗
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