CEO Michael Sarner was paid $3,791,870 in fiscal year 2026, ↑ up 10.7% from fiscal year 2025 (SEC filing 0000017313-26-000042 ↗): 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.
$3,791,870 ↑ Michael Sarner total, FY2026 | — CEO pay percentile vs peers | — CEO-to-median pay ratio | — Say-on-pay support, latest vote |
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CSWC's next annual pay disclosure, estimated May 27, 2027.est. Filing ↗
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Michael Sarner | $500,000 | $1,113,697 | $1,708,000 | $0 | $0 | $0 | $470,173 | $3,791,870 |
| President and Chief Executive Officer (3) | ||||||||
| Joshua Weinstein | 450,000 | 835,273 | 1,387,750 | 0 | 0 | 0 | 387,744 | 3,060,767 |
| Chief Investment Officer | ||||||||
| Chris Rehberger | 350,000 | 649,857 | 960,750 | 0 | 0 | 0 | 210,457 | 2,171,064 |
| Chief Financial Officer, Secretary and Treasurer | ||||||||
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 | FY2026 total | FY2025 total | FY2024 total | Δ FY2025→2026 |
|---|---|---|---|---|
| Michael Sarner | $3,791,870 | $3,424,639 | $2,663,098 | ↑ +367,231 |
| Joshua Weinstein | 3,060,767 | 2,891,333 | 2,369,937 | ↑ +169,434 |
| Chris Rehberger | 2,171,064 | 1,391,055 | — | ↑ +780,009 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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No insider equity transactions reported since the proxy statement.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Chris Rehberger | RSU | 2025-06-09 | — | — | 45,000 | — | $960,750 |
| Michael Sarner | RSU | 2025-06-09 | — | — | 80,000 | — | 1,708,000 |
| Joshua Weinstein | RSU | 2025-06-09 | — | — | 65,000 | — | 1,387,750 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Chris Rehberger | $960,750 | $0 | $0 | 0.0% |
| Michael Sarner | 1,708,000 | 0 | 0 | 0.0% |
| Joshua Weinstein | 1,387,750 | 0 | 0 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Chris Rehberger | RSU | 76,125 | — | $1,683,885 |
| Joshua Weinstein | RSU | 145,051 | — | 3,208,528 |
| Michael Sarner | RSU | 177,211 | — | 3,919,907 |
The compensation programs are designed to be fair, reasonable, and competitive, aligning executive compensation with the Company's short-term and long-term objectives and shareholder interests to achieve sustainable investment returns. Key elements include attracting and retaining top talent, aligning pay with performance, and using long-term equity awards to align employee and shareholder interests.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Mercer (U.S.), Inc |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | false |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| David R. BrooksIndependent · Board Chair · Audit · Compensation · Nominating/ Corporate Governance | $172,000 | $50,000 | — | — | — | $222,000 |
| Ramona L. Rogers-WindsorIndependent · Audit · Compensation · Nominating/ Corporate Governance | 152,000 | 50,000 | — | — | — | 202,000 |
| Christine S. BattistIndependent · Audit (Chair) · Compensation · Nominating/ Corporate Governance | 152,000 | 50,000 | — | — | — | 202,000 |
| Jack D. FurstIndependent · Audit · Compensation (Chair) · Nominating/ Corporate Governance | 147,000 | 50,000 | — | — | — | 197,000 |
| William R. ThomasIndependent · Audit · Compensation · Nominating/ Corporate Governance (Chair) | 145,000 | 50,000 | — | — | — | 195,000 |
| Michael S. SarnerEmployee director | — | — | — | — | — | 0 |
| Annual cash retainer | $112,000 |
|---|---|
| Annual equity retainer | $50,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 15,000 / 13,000 |
| Stock ownership guideline | $4 |
| Component | FY2026 |
|---|---|
| Cash retainers and fees | $768,000 |
| Equity awards (grant-date value) | $250,000 |
| All other compensation | $0 |
| Total cost of the board | $1,018,000 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
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 | Capital Southwest | 2026 | Michael Sarner | $500,000 | $1,708,000 | $0 | $0 | $3,791,870 |
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, Michael Sarner | DEF 14A | 2026-05-27 | 0000017313-26-000042 | Section “Summary Compensation Table ” · page 30. As printed: 3,791,870. Filing ↗machine: r5 · c37 · span 423093–423102 |
| 2 | Section 01, Joshua Weinstein | DEF 14A | 2026-05-27 | 0000017313-26-000042 | Section “Summary Compensation Table ” · page 30. As printed: 3,060,767. Filing ↗machine: r11 · c37 · span 441715–441724 |
| 3 | Section 01, Chris Rehberger | DEF 14A | 2026-05-27 | 0000017313-26-000042 | Section “Summary Compensation Table ” · page 30. As printed: 2,171,064. Filing ↗machine: r8 · c37 · span 434194–434203 |
| 4 | Section 03, Chris Rehberger RSU | DEF 14A | 2026-05-27 | 0000017313-26-000042 | Section “Grants of Plan Based Awards ” · grants of plan-based awards table. Filing ↗ |
| 5 | Section 03, Michael Sarner RSU | DEF 14A | 2026-05-27 | 0000017313-26-000042 | Section “Grants of Plan Based Awards ” · grants of plan-based awards table. Filing ↗ |
| 6 | Section 03, Joshua Weinstein RSU | DEF 14A | 2026-05-27 | 0000017313-26-000042 | Section “Grants of Plan Based Awards ” · grants of plan-based awards table. Filing ↗ |
| 7 | Section 08, David R. Brooks | DEF 14A | 2026-05-27 | 0000017313-26-000042 | Section “Director Compensation”. As printed: 222,000. Filing ↗machine: span 279398–279704 |
| 8 | Section 08, Ramona L. Rogers-Windsor | DEF 14A | 2026-05-27 | 0000017313-26-000042 | Section “Director Compensation”. As printed: 202,000. Filing ↗machine: span 282769–283075 |
| 9 | Section 08, Christine S. Battist | DEF 14A | 2026-05-27 | 0000017313-26-000042 | Section “Director Compensation”. As printed: 202,000. Filing ↗machine: span 277861–277993 |
| 10 | Section 08, Jack D. Furst | DEF 14A | 2026-05-27 | 0000017313-26-000042 | Section “Director Compensation”. As printed: 197,000. Filing ↗machine: span 281078–281384 |
| 11 | Section 08, William R. Thomas | DEF 14A | 2026-05-27 | 0000017313-26-000042 | Section “Director Compensation”. As printed: 195,000. Filing ↗machine: span 284453–284759 |
| 12 | Section 08, Michael S. Sarner | DEF 14A | 2026-05-27 | 0000017313-26-000042 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 13 | 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) |
| 14 | 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).machine: formula: sums + PSU ratio |
| 15 | Section 09b board cost (computed) | Computed | — | — | Cash 768,000 + equity 250,000 + all other 0 = 1,018,000, summed across the director compensation table rows.machine: formula: Σ = 1,018,000 |
| 16 | Capital Southwest (subject), Section 10b CEO total | DEF 14A | 2026-05-27 | 0000017313-26-000042 | CEO total compensation as printed in Capital Southwest's own proxy. As printed: 3,791,870. Filing ↗machine: r5 · c37 · span 423093–423102 |
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