Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-09-17

Ducommun (DCO)

CEO Stephen Oswald was paid $10,329,989 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.

$10,329,989
Named (NEO) total, FY2025
Chairman — highest-paid officer; CEO Stephen Oswald: $10,329,989
58th
CEO (Stephen Oswald) pay percentile vs peers
—
CEO-to-median pay ratio
94.23%
Say-on-pay support, latest vote

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Companies that benchmark against DCO
12 companies name DCO as a compensation peer

Each company listed discloses DCO 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 DCO 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
Named (NEO)$1,019,624$0$6,121,650$0$3,058,871$0$129,844$10,329,989
Chairman
Stephen Oswald1,019,6240————129,84410,329,989
Chairman, President & Chief Executive Officer
Suman Mookerji545,813214,0001,316,39301,064,3360129,8443,270,386
Senior Vice President, Chief Financial Officer
Jerry Redondo544,9750953,9090980,9550129,4712,609,310
Senior Vice President, Operations
Rajiv Tata420,94850,000594,5180631,4220152,9201,849,808
Vice President, General Counsel & Secretary
Laureen Gonzalez358,3100347,7470537,4650129,4691,372,991
Vice President, Chief Human Resources 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 FY2024→2025
Named (NEO)$10,329,989$9,723,566$8,280,943+606,423
Stephen Oswald10,329,98910,329,98910,329,989+0
Suman Mookerji3,270,3862,927,0772,266,326+343,309
Jerry Redondo2,609,3102,483,0351,827,005+126,275
Rajiv Tata1,849,8081,682,1571,286,200+167,651
Laureen Gonzalez1,372,9911,281,044867,201+91,947

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.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Suman MookerjiPSU23,104—$2,197,872
Jerry RedondoPSU13,598—972,609
Suman MookerjiPSU18,765—1,785,112
Laureen GonzalezRSU2,007—190,926
Rajiv TataPSU10,236—1,173,143
Stephen OswaldPSU27,222—2,589,630
Suman MookerjiRSU7,597—722,703
Stephen OswaldRSU5,135—488,493
Rajiv TataRSU3,431—326,391
Stephen OswaldPSU87,277—8,302,686
Stephen OswaldPSU80,233—7,632,544
Suman MookerjiRSU4,997—475,365
Stephen OswaldPSU21,874—2,080,874
Stephen OswaldRSU13,443—1,278,833
Jerry RedondoPSU16,741—1,918,772
Stephen OswaldPSU16,399—1,560,037
Jerry RedondoRSU5,505—523,691
Stephen OswaldRSU8,813—838,381
Rajiv TataPSU8,475—806,204
Laureen GonzalezPSU5,988—686,268
Laureen GonzalezPSU4,957—471,551
Jerry RedondoRSU3,621—344,434
Suman MookerjiRSU2,328—221,494
Rajiv TataRSU2,214—210,618
Jerry RedondoRSU1,506—143,297
Laureen GonzalezRSU1,295—123,162
Rajiv TataRSU1,241—118,056
Laureen GonzalezRSU629—59,837
05

Incentive-plan design — the Compensation Discussion & Analysis

Our philosophy in compensating our named executive officers is oriented towards a pay-for-performance approach, with a significant percentage of total compensation being performance-based and at risk. We aim to align executive interests with shareholders by linking pay to the achievement of financial goals, such as adjusted operating income, revenue, and adjusted cash flow from operations, while maintaining competitive levels relative to the proxy talent peer group.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantWillis Towers Watson LLC
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-04-2911,829,511712,76310,93494.23%Passed
20252025-04-3011,523,049483,311637,35791.14%Passed
20242024-04-2411,553,8101,235,297301,16988.26%Passed
20232023-04-2610,234,74082,4039,27999.2%Passed
20222022-04-207,383,7322,773,3068,83372.63%Passed
20212021-04-2110,093,44273,14131,71398.97%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
20262026-04-2994.23%a
20252025-04-3091.14%b
20242024-04-2488.26%c

a. Approved under the standard stated in the filing — “posal Board voting recommendation Vote required to pass Effect of abstentions and broker non-votes Election of Directors to serve until the 2029 Annual Meeting FOR all nominees The two candidates receiving the highest number of votes will be elected No effect Advisory vote to approve Ducommun's executive compensation on an advisory basis FOR Affirmative vote of a majority of the shares present (in person or by proxy) and entitled to vote thereon Abstentions will count as votes against the proposal Broker non-votes will have no effect Ratification of the selection of the independent registered public accounting firm FOR Affirmative vote of a majority of the shares present (in person or re being asked to vote, information you may find useful in determining how to vote, and information about voting procedures.”.

b. Approved under the standard stated in the filing — “ch proposal to pass? Proposal Board voting recommendation Vote required to pass Effect of abstentions and broker non-votes Election of Directors for Class 2028 FOR all nominees The two candidates receiving the highest number of votes will be elected No effect Advisory vote to approve executive compensation on an advisory basis FOR Affirmative vote of a majority of the shares present (in person or by proxy) and entitled to vote thereon Abstentions will count as votes against the proposal Broker non-votes will have no effect Ratification of the independent registered public accounting firm FOR Affirmative vote of a majority of the shares present (in person or by proxy) and ent re being asked to vote, information you may find useful in determining how to vote, and information about voting procedures.”.

c. Approved under the standard stated in the filing — “proposal to pass? Proposal Board voting recommendation Vote required to pass Effect of abstentions and broker non-votes Election of Directors for Class 2027 FOR all nominees The three candidates receiving the highest number of votes will be elected No effect Advisory vote to approve executive compensation on an advisory basis FOR Affirmative vote of a majority of the shares present (in person or by proxy) and entitled to vote Abstentions will count as votes against the proposal Broker non-votes will have no effect Approve the Company's 2024 Stock Incentive Plan FOR Affirmative vote of a majority of the shares present (in person or by proxy) and entitled to vote Abstentions ion you may find useful in determining how to vote, and information about voting procedures.”.

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
Robert C. DucommunNot independent · Departed during FY$53,125$0——$300,000$353,125
Shirley G. DrazbaIndependent · Lead Independent Director · Compensation · Nominating129,375138,092——0267,467
Samara A. StryckerIndependent · Audit · Compensation122,500138,092——0260,592
Sheila G. KramerIndependent · Compensation103,125138,092——0241,217
Richard A. BaldridgeIndependent · Audit · Not standing for re-election102,500138,092——0240,592
Daniel L. BoehleIndependent · Innovation · Audit95,000138,092——0233,092
Daniel G. KorteIndependent · Corporate Governance & Nominating · Audit87,500138,092——0225,592
David B. CarterIndependent · Innovation (Chair)87,500138,092——0225,592
Dean M. FlattIndependent · Departed during FY59,3750——059,375
Stephen G. OswaldEmployee director · Board Chair · Innovation—————0
09

Board fee structure and ownership guideline

Annual cash retainer$80,000
Annual equity retainer$135,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)17,500 / 12,500 / 7,500
Stock ownership guideline$5
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$840,000
Equity awards (grant-date value)$966,644
All other compensation$300,000
Total cost of the board$2,106,644

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.

10a

Peer reciprocity

Of the companies Ducommun 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 Ducommun.

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
1RBC Bearings Incorporated2026Michael Hartnett$1,545,000$16,086,450$0$3,090,000$20,912,354
2AeroVironment, Inc.2026Wahid Nawabi1,118,82913,339,7150767,60915,253,775
3Mercury Systems, Inc.2026William Ballhaus1,049,2698,099,08701,946,16011,131,048
4Kratos Defense & Security Solutions, Inc.2025Eric DeMarco1,000,0008,244,00001,500,00010,832,739
5Crane Company2025Max Mitchell1,244,2315,480,7381,562,5061,840,20010,518,852
6Ducommun2025Stephen Oswald1,019,624———10,329,989
7AAR Corp2026John Holmes1,115,0004,637,8941,159,3102,408,4009,867,963
8Barnes Group, Inc.2023Thomas Hook1,000,0004,688,2071,114,981432,0007,305,338
9Hexcel Corporation2025Thomas Gentile III1,100,0003,374,9611,685,259923,2307,252,875
10Standex International Corporation2026David Dunbar936,4364,135,8190560,4576,407,973
11Triumph Group, Inc.2025Aaron Graft725,0002,808,839634,360362,8954,607,786
12Albany International Corp.2025Gunnar Kleveland922,3272,612,5700699,5504,259,285
13Astronics Corporation2025Peter Gundermann658,570500,455951,10803,090,552
—ESCO Technologies, 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
Ducommunnot disclosednot disclosednot disclosedWillis Towers Watson LLC
AAR Corp180%PSU 60 · RSU 20 · Options 20YesSemler Brossy
AeroVironment, Inc.62%PSU 65 · RSU 35NoPay Governance
Albany International Corp.72.9%not disclosedYes — AIN Relative TSRPearl Meyer & Partners
Astronics Corporationnot disclosednot disclosedNonot disclosed
Barnes Group, Inc.not disclosedPSA 50 · RSU 30 · Option 20not disclosedMeridian Compensation Partners, LLC
Crane Companynot disclosednot disclosednot disclosedFrederic W. Cook & Co., Inc.
ESCO Technologies, Inc.not disclosednot disclosednot disclosednot disclosed
Hexcel Corporation76.3%not disclosedNoSemler Brossy
Kratos Defense & Security Solutions, Inc.not disclosedRSU 50 · PSU 50NoBoard Advisory, LLC
Mercury Systems, Inc.not disclosedPSU 60 · RSU 40not disclosedMeridian Compensation Partners, LLC
RBC Bearings Incorporatednot disclosednot disclosednot disclosednot disclosed
Standex International Corporationnot disclosedRSU 50 · PSU 50not disclosedMeridian
Triumph Group, Inc.83%PSU 50 · RSU 25 · Options 25Yes — Total Shareholder Return (TSR) - Banking Peer Group (Relative)Meridian Compensation Partners LLC

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.

FAQ

Frequently asked questions

Who was the highest-paid executive at Ducommun in fiscal 2025?
The filing shows the highest-paid executive was the Chairman, with total compensation of $10,329,989.
How does Ducommun's chief executive pay compare to its disclosed peer group?
As disclosed, the CEO's pay ranked at the 58th percentile of the disclosed peer group.
What is Ducommun's CEO-to-median employee pay ratio?
The CEO-to-median employee pay ratio is not disclosed in this filing.
How did shareholders vote on Ducommun's executive compensation?
The company reported that 94.23% of shareholders supported the executive compensation vote.
How much does Ducommun spend in total on board compensation for fiscal 2025?
The filing shows total board compensation for fiscal 2025 was $2,106,644.

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.

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, Named (NEO)DEF 14A2026-03-130001308179-26-000067Section “2025 Summary Compensation Table” · page 68. As printed: 10,329,989. Filing ↗machine: r2 · c14 · span 830440–830450
2Section 01, Stephen OswaldDEF 14A2026-03-130001308179-26-000067Section “2025 Summary Compensation Table” · page 68. As printed: 10,329,989. Filing ↗
3Section 01, Suman MookerjiDEF 14A2026-03-130001308179-26-000067Section “2025 Summary Compensation Table” · page 68. As printed: 3,270,386. Filing ↗machine: r5 · c14 · span 834894–834903
4Section 01, Jerry RedondoDEF 14A2026-03-130001308179-26-000067Section “2025 Summary Compensation Table” · page 68. As printed: 2,609,310. Filing ↗machine: r11 · c14 · span 843297–843306
5Section 01, Rajiv TataDEF 14A2026-03-130001308179-26-000067Section “2025 Summary Compensation Table” · page 68. As printed: 1,849,808. Filing ↗machine: r14 · c14 · span 847266–847275
6Section 01, Laureen GonzalezDEF 14A2026-03-130001308179-26-000067Section “2025 Summary Compensation Table” · page 68. As printed: 1,372,991. Filing ↗machine: r8 · c14 · span 838872–838881
7Section 08, Robert C. DucommunDEF 14A2026-03-130001308179-26-000067Section “Director Compensation”. As printed: 353,125. Filing ↗machine: span 406938–407005
8Section 08, Shirley G. DrazbaDEF 14A2026-03-130001308179-26-000067Section “Director Compensation”. As printed: 267,467. Filing ↗machine: span 406153–406220
9Section 08, Samara A. StryckerDEF 14A2026-03-130001308179-26-000067Section “Director Compensation”. As printed: 260,592. Filing ↗machine: span 410081–410148
10Section 08, Sheila G. KramerDEF 14A2026-03-130001308179-26-000067Section “Director Compensation”. As printed: 241,217. Filing ↗machine: span 408514–408581
11Section 08, Richard A. BaldridgeDEF 14A2026-03-130001308179-26-000067Section “Director Compensation”. As printed: 240,592. Filing ↗machine: span 403791–403858
12Section 08, Daniel L. BoehleDEF 14A2026-03-130001308179-26-000067Section “Director Compensation”. As printed: 233,092. Filing ↗machine: span 404587–404654
13Section 08, Daniel G. KorteDEF 14A2026-03-130001308179-26-000067Section “Director Compensation”. As printed: 225,592. Filing ↗machine: span 409309–409376
14Section 08, David B. CarterDEF 14A2026-03-130001308179-26-000067Section “Director Compensation”. As printed: 225,592. Filing ↗machine: span 405355–405422
15Section 08, Dean M. FlattDEF 14A2026-03-130001308179-26-000067Section “Director Compensation”. As printed: 59,375. Filing ↗machine: span 407267–407333
16Section 08, Stephen G. OswaldDEF 14A2026-03-130001308179-26-000067Section “Director Compensation”. As printed: 0. Filing ↗
17Section 06, 2026 voteForm 8-K2026-04-300001193125-26-197612Item 5.07 · say-on-pay result. As reported: 94.23% (votes for as printed: 11,829,511). Filing ↗
18Section 06, 2025 voteForm 8-K2025-05-020001193125-25-111652Item 5.07 · say-on-pay result. As reported: 91.14% (votes for as printed: 11,523,049). Filing ↗
19Section 06, 2024 voteForm 8-K2024-04-250001193125-24-114064Item 5.07 · say-on-pay result. As reported: 88.26% (votes for as printed: 11,553,810). Filing ↗
20Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
21Section 09b board cost (computed)Computed——Cash 840,000 + equity 966,644 + all other 300,000 = 2,106,644, summed across the director compensation table rows.machine: formula: Σ = 2,106,644
22RBC Bearings Incorporated, Section 10b CEO totalDEF 14A2026-07-240001140361-26-029594CEO total compensation as printed in RBC Bearings Incorporated's own proxy. As printed: 20,912,354. Filing ↗machine: r2 · c25 · span 992933–992943
23AeroVironment, Inc., Section 10b CEO totalDEF 14A2026-08-140001104659-26-096689CEO total compensation as printed in AeroVironment, Inc.'s own proxy. As printed: 15,253,775. Filing ↗machine: t127 · r1 · c42 · span 1424713–1424723
24Mercury Systems, Inc., Section 10b CEO totalDEF 14A2026-09-170001049521-26-000077CEO total compensation as printed in Mercury Systems, Inc.'s own proxy. As printed: 11,131,048. Filing ↗machine: span 816583–816593
25Kratos Defense & Security Solutions, Inc., Section 10b CEO totalDEF 14A2026-04-020001069258-26-000040CEO total compensation as printed in Kratos Defense & Security Solutions, Inc.'s own proxy. As printed: 10,832,739. Filing ↗machine: span 783149–783159
26Crane Company, Section 10b CEO totalDEF 14A2026-03-130001193125-26-105005CEO total compensation as printed in Crane Company's own proxy. As printed: 10,518,852. Filing ↗machine: r3 · c35 · span 842112–842122
27Ducommun (subject), Section 10b CEO totalDEF 14A2026-03-130001308179-26-000067CEO total compensation as printed in Ducommun's own proxy. As printed: 10,329,989. Filing ↗
28AAR Corp, Section 10b CEO totalDEF 14A2026-08-040001140361-26-031078CEO total compensation as printed in AAR Corp's own proxy. As printed: 9,867,963. Filing ↗machine: r2 · c28 · span 1642184–1642193
29Barnes Group, Inc., Section 10b CEO totalDEF 14A2024-03-290001140361-24-016599CEO total compensation as printed in Barnes Group, Inc.'s own proxy. As printed: 7,305,338. Filing ↗
30Hexcel Corporation, Section 10b CEO totalDEF 14A2026-04-010001193125-26-135884CEO total compensation as printed in Hexcel Corporation's own proxy. As printed: 7,252,875. Filing ↗machine: t152 · r2 · c40 · span 2524687–2524696
31Standex International Corporation, Section 10b CEO totalDEF 14A2026-09-040001437749-26-029660CEO total compensation as printed in Standex International Corporation's own proxy. As printed: 6,407,973. Filing ↗machine: r1 · c28 · span 1051988–1051997
32Triumph Group, Inc., Section 10b CEO totalDEF 14A2026-03-110001193125-26-102190CEO total compensation as printed in Triumph Group, Inc.'s own proxy. As printed: 4,607,786. Filing ↗machine: r3 · c39 · span 604064–604073
33Albany International Corp., Section 10b CEO totalDEF 14A2026-04-020001628280-26-022940CEO total compensation as printed in Albany International Corp.'s own proxy. As printed: 4,259,285. Filing ↗machine: t89 · r3 · c9 · span 688295–688304
34Astronics Corporation, Section 10b CEO totalDEF 14A2026-04-170001140361-26-015301CEO total compensation as printed in Astronics Corporation's own proxy. As printed: 3,090,552. Filing ↗machine: r2 · c22 · span 787043–787053
35Section 10a, Hexcel Corporation reciprocityDEF 14A—0001193125-26-135884Hexcel Corporation's most recent proxy was read; its disclosed peer group does not include Ducommun. Filing ↗
36Section 10a, Triumph Group, Inc. reciprocityDEF 14A—0001193125-26-102190Triumph Group, Inc.'s most recent proxy was read; its disclosed peer group does not include Ducommun. Filing ↗
37Section 10a, Albany International Corp. reciprocityDEF 14A—0001628280-26-022940Albany International Corp. names Ducommun in its own disclosed peer group (read from its most recent proxy). Filing ↗
38Section 10a, Barnes Group, Inc. reciprocityDEF 14A—0001140361-24-016599Barnes Group, Inc.'s most recent proxy was read; its disclosed peer group does not include Ducommun. Filing ↗
39Section 10a, AAR Corp reciprocityDEF 14A—0001140361-26-031078AAR Corp names Ducommun in its own disclosed peer group (read from its most recent proxy). Filing ↗
40Section 10a, Standex International Corporation reciprocityDEF 14A—0001437749-26-029660Standex International Corporation's most recent proxy was read; its disclosed peer group does not include Ducommun. Filing ↗
41Section 10a, Mercury Systems, Inc. reciprocityDEF 14A—0001049521-26-000077Mercury Systems, Inc. names Ducommun in its own disclosed peer group (read from its most recent proxy). Filing ↗
42Section 10a, RBC Bearings Incorporated reciprocityDEF 14A—0001140361-26-029594RBC Bearings Incorporated's most recent proxy was read; its disclosed peer group does not include Ducommun. Filing ↗
43Section 10a, Crane Company reciprocityDEF 14A—0001193125-26-105005Crane Company's most recent proxy was read; its disclosed peer group does not include Ducommun. Filing ↗
44Section 10a, Kratos Defense & Security Solutions, Inc. reciprocityDEF 14A—0001069258-26-000040Kratos Defense & Security Solutions, Inc. names Ducommun in its own disclosed peer group (read from its most recent proxy). Filing ↗

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