Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-05-14

Carriage Services (CSV)

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.

$3,859,198
Carlos Quezada total, FY2025
CEO pay percentile vs peers
143:1
CEO-to-median pay ratio
99.03%
Say-on-pay support, latest vote
Companies that benchmark against CSV
1 company names CSV as a compensation peer

Each company listed discloses CSV 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 CSV 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
Carlos Quezada$850,000$0$1,599,986$0$1,318,929$0$90,283$3,859,198
CEO & Vice Chair of the Board (Principal Executive Officer)
Steven Metzger625,00001,050,0000950,123063,8492,688,972
President & Chief Operating Officer
John Enwright425,0000637,4890420,188020,2891,502,966
Senior Vice President, Chief Financial Officer & Treasurer (Principal Financial Officer)
Rob Franch365,0000547,5060268,981021,6001,203,087
Chief Information Officer
Kathryn Shanley340,0000487,4880247,061016,5861,091,135
Chief Accounting Officer (Interim Principal Financial Officer and Principal Accounting 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
Carlos Quezada$3,859,198$4,294,842$2,812,587−435,644
Steven Metzger2,688,9723,088,9992,209,603−400,027
John Enwright1,502,966
Rob Franch1,203,0871,286,404967,128−83,317
Kathryn Shanley1,091,135533,375+557,760

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
Rob FranchRSU6,590$273,749
Steven MetzgerRSU12,638524,983
John EnwrightPSU8,26016,520318,753
John EnwrightRSU7,673318,736
Rob FranchPSU7,09414,188273,757
Steven MetzgerPSU13,60527,210525,017
Carlos QuezadaPSU20,73141,462800,009
Carlos QuezadaRSU19,258799,977
Kathryn ShanleyRSU5,867243,715
Kathryn ShanleyPSU6,31712,634243,773
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Rob Franch$273,749$273,757$050.0%
Steven Metzger524,983525,017050.0%
John Enwright318,736318,753050.0%
Carlos Quezada799,977800,009050.0%
Kathryn Shanley243,715243,773050.0%

% 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
Carlos QuezadaRSU45,888$1,941,062
Steven MetzgerRSU30,9781,310,369
Carlos QuezadaPSU20,731876,921
Rob FranchRSU16,150683,145
Steven MetzgerPSU13,605575,492
John EnwrightPSU8,260349,398
John EnwrightRSU7,673324,568
Carlos QuezadaOption28,57249.48
Rob FranchPSU7,094300,076
Kathryn ShanleyPSU6,317267,209
Kathryn ShanleyRSU5,867248,174
Carlos QuezadaOption10,00034.79
Carlos QuezadaOption10,50032.69
Steven MetzgerOption8,75032.69
Carlos QuezadaOption51,58024.48
Steven MetzgerOption10,00034.79
Rob FranchOption5,25032.69
Steven MetzgerOption22,85649.48
Rob FranchOption16,92024.48
Steven MetzgerOption33,84024.48
05

Incentive-plan design — the Compensation Discussion & Analysis

Carriage's executive compensation programs align executive pay with the Company's operational and financial performance, support short-term and long-term business objectives, and focus on attracting, motivating, and retaining exceptional leadership talent. The philosophy emphasizes transparency between pay and individual/team contribution, rewarding proven success, and aligning executive interests with those of shareholders.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantPearl Meyer
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingfalse
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-1211,879,875104,95410,84999.03%Passed
20252025-05-1310,506,939544,89920,33495.07%Passed
20242024-05-148,227,3751,830,40353,74781.8%Passed
20232023-05-165,251,4715,252,92611,39049.99%Failed
20222022-05-177,470,3173,504,44663,21868.07%Passed
20212021-05-1812,359,0641,128,65681,58791.08%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
20262026-05-1299.03%a
20252025-05-1395.07%b
20242024-05-1481.8%c

a. Approved under the standard stated in the filing — “Abstentions and broker non-votes will have the same effect as a vote "Against" this proposal.”.

b. Approved under the standard stated in the filing — “In accordance with applicable Delaware law, abstentions will have no effect "for" or "against" this proposal.”.

c. Approved under the standard stated in the filing — “In accordance with applicable Delaware law, abstentions will have no effect "for" or "against" this proposal.”.

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.

07

CEO pay ratio

Ratio (CEO : median employee)143 : 1
CEO total compensation
Median employee compensation$26,996
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Donald D. Patteson JrIndependent · Board Chair · Compensation · Audit · Corporate Governance$185,000$0$185,000
Julie SandersIndependent · Compensation · Audit · Corporate Governance (Chair)127,21447,786175,000
Chad FargasonIndependent · Compensation · Audit · Corporate Governance168,0000168,000
Dr. Edmondo RobinsonIndependent · Compensation · Audit (Chair) · Corporate Governance67,03299,968167,000
Somer WebbIndependent · Compensation (Chair) · Audit · Corporate Governance66,15598,845165,000
Douglas B. MeehanIndependent · Compensation · Audit · Corporate Governance150,0000150,000
Carlos R. QuezadaEmployee director0
09

Board fee structure and ownership guideline

Annual cash retainer$150,000
Annual equity retainer
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)20,000 / 15,000 / 10,000
Stock ownership guideline$1
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$763,401
Equity awards (grant-date value)$246,599
All other compensation$0
Total cost of the board$1,010,000

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

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
1Carriage Services2025Carlos Quezada$850,000$1,599,986$0$1,318,929$3,859,198

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.

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, Carlos QuezadaDEF 14A2026-03-270001104659-26-036092Section “Summary Compensation Table”. As printed: 3,859,198. Filing ↗machine: span 712704–712713
2Section 01, Steven MetzgerDEF 14A2026-03-270001104659-26-036092Section “Summary Compensation Table”. As printed: 2,688,972. Filing ↗machine: span 728210–728219
3Section 01, John EnwrightDEF 14A2026-03-270001104659-26-036092Section “Summary Compensation Table”. As printed: 1,502,966. Filing ↗machine: span 742832–742841
4Section 01, Rob FranchDEF 14A2026-03-270001104659-26-036092Section “Summary Compensation Table”. As printed: 1,203,087. Filing ↗machine: span 773092–773101
5Section 01, Kathryn ShanleyDEF 14A2026-03-270001104659-26-036092Section “Summary Compensation Table”. As printed: 1,091,135. Filing ↗machine: span 758498–758507
6Section 03, Rob Franch RSUDEF 14A2026-03-270001104659-26-036092Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 937059–937066
7Section 03, Steven Metzger RSUDEF 14A2026-03-270001104659-26-036092Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 862432–862439
8Section 03, John Enwright PSUDEF 14A2026-03-270001104659-26-036092Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 894564–894571
9Section 03, John Enwright RSUDEF 14A2026-03-270001104659-26-036092Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 888062–888069
10Section 03, Rob Franch PSUDEF 14A2026-03-270001104659-26-036092Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 943521–943528
11Section 03, Steven Metzger PSUDEF 14A2026-03-270001104659-26-036092Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 867795–867802
12Section 03, Carlos Quezada PSUDEF 14A2026-03-270001104659-26-036092Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 845538–845545
13Section 03, Carlos Quezada RSUDEF 14A2026-03-270001104659-26-036092Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 839035–839042
14Section 03, Kathryn Shanley RSUDEF 14A2026-03-270001104659-26-036092Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 911432–911439
15Section 03, Kathryn Shanley PSUDEF 14A2026-03-270001104659-26-036092Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 916794–916801
16Section 07, pay ratioDEF 14A2026-03-270001104659-26-036092Section “CEO Pay Ratio”. As printed: 143 : 1. Filing ↗
17Section 08, Donald D. Patteson JrDEF 14A2026-03-270001104659-26-036092Section “Director Compensation”. As printed: 185,000. Filing ↗machine: span 375819–375826
18Section 08, Julie SandersDEF 14A2026-03-270001104659-26-036092Section “Director Compensation”. As printed: 175,000. Filing ↗machine: span 382342–382349
19Section 08, Chad FargasonDEF 14A2026-03-270001104659-26-036092Section “Director Compensation”. As printed: 168,000. Filing ↗machine: span 376958–376965
20Section 08, Dr. Edmondo RobinsonDEF 14A2026-03-270001104659-26-036092Section “Director Compensation”. As printed: 167,000. Filing ↗machine: span 384765–384772
21Section 08, Somer WebbDEF 14A2026-03-270001104659-26-036092Section “Director Compensation”. As printed: 165,000. Filing ↗machine: span 386777–386784
22Section 08, Douglas B. MeehanDEF 14A2026-03-270001104659-26-036092Section “Director Compensation”. As printed: 150,000. Filing ↗
23Section 08, Carlos R. QuezadaDEF 14A2026-03-270001104659-26-036092Section “Director Compensation”. As printed: 0. Filing ↗
24Section 06, 2026 voteForm 8-K2026-05-140001016281-26-000039Item 5.07 · say-on-pay result. As reported: 99.03% (votes for as printed: 11,879,875). Filing ↗
25Section 06, 2025 voteForm 8-K2025-05-140001016281-25-000083Item 5.07 · say-on-pay result. As reported: 95.07% (votes for as printed: 10,506,939). Filing ↗
26Section 06, 2024 voteForm 8-K2024-05-150001016281-24-000105Item 5.07 · say-on-pay result. As reported: 81.8% (votes for as printed: 8,227,375.38). Filing ↗
27Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
28Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
29Section 09b board cost (computed)ComputedcomputedCash 763,401 + equity 246,599 + all other 0 = 1,010,000, summed across the director compensation table rows.machine: formula: Σ = 1,010,000
30Carriage Services (subject), Section 10b CEO totalDEF 14A2026-03-270001104659-26-036092CEO total compensation as printed in Carriage Services's own proxy. As printed: 3,859,198. Filing ↗machine: span 712704–712713