Companies Friedman Industries Inc
Friedman Industries (FRD): executive pay, fiscal 2026
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CEO pay, last three years
- $1,614,524FY2024
- $700,734FY2025
- $2,709,607FY2026
CEO total pay was $2,709,607 in fiscal 2026, up from $700,734 in fiscal 2025.
FY2026: salary $750,000 · bonus $1,221,635 · stock awards $718,234 · option awards $0
Executives and directors
Frequently asked questions
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 officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Michael Taylor | $750,000 | $1,221,635 | $718,234 | $0 | $0 | $0 | $19,738 | $2,709,607 |
| President & Chief Executive Officer | ||||||||
| Gaurav Chhibbar | 263,938 | 1,175,529 | 1,062,000 | 0 | 0 | 0 | 17,033 | 2,518,500 |
| Chief Operating Officer | ||||||||
| Alex LaRue | 265,440 | 457,664 | 134,287 | 0 | 0 | 0 | 13,043 | 870,434 |
| Chief Financial Officer -- Secretary & 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.
Three-year trend — total compensation per named executive
| Named executive officer | FY2026 total | FY2025 total | FY2024 total | Δ FY2025→2026 |
|---|---|---|---|---|
| Michael Taylor | $2,709,607 | $700,734 | $1,614,524 | ↑ +2,008,873 |
| Gaurav Chhibbar | 2,518,500 | — | — | — |
| Alex LaRue | 870,434 | 365,704 | 693,581 | ↑ +504,730 |
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 company believes its compensation policies are competitive, focused on pay-for-performance, and strongly aligned with the long-term interests of shareholders. The Compensation Committee reviews the competitiveness of executive compensation to foster attraction and retention, motivation to achieve business objectives, and alignment of leadership interests with shareholder interests.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | The Company has adopted a Clawback Policy compliant with Section 10D of the Exchange Act and Nasdaq rules, requiring reimbursement of erroneously awarded incentive compensation in the event of an accounting restatement due to material noncompliance. |
| Anti-hedging | Officers, directors, and employees are prohibited from engaging in transactions involving put, call, or other options or derivatives with respect to the Company's securities (other than options or securities issued under the Company's own equity plans). |
| Anti-pledging | — |
Equity grants and outstanding awards
No plan-based awards are on file for this fiscal year.
Outstanding equity awards at fiscal year-end 2026
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Alex LaRue | RSU | 4,666 | — | $82,682 |
| Alex LaRue | PSU | 4,666 | — | 82,682 |
| Taylor | RSU | 24,956 | — | 442,221 |
| Taylor | PSU | 24,956 | — | 442,221 |
| Gaurav Chhibbar | RSU | 50,000 | — | 886,000 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Sharon TaylorIndependent · Audit (Chair) · Compensation · Nominating | $48,000 | — | — | — | $10,000 | $59,000 |
| Max ReichenthalIndependent · Audit · Compensation · Nominating | 45,000 | — | — | — | 10,000 | 55,000 |
| Tim StevensonIndependent · Audit · Compensation (Chair) · Nominating · Not standing for re-election | 45,000 | — | — | — | 10,000 | 55,000 |
| Michael HansonIndependent · Compensation | 36,000 | — | — | — | 10,000 | 46,000 |
| Sandy ScottIndependent · Compensation · Nominating (Chair) | 36,000 | — | — | — | 10,000 | 46,000 |
| Joe L. WilliamsIndependent · Nominating | 36,000 | — | — | — | 10,000 | 46,000 |
| Michael J. TaylorEmployee director · Board Chair | — | — | — | — | — | 0 |
Board fee structure and ownership guideline
| Annual cash retainer | $36,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 12,000 |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2026 |
|---|---|
| Cash retainers and fees | $246,000 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $60,000 |
| Total cost of the board | $306,000 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Friedman Industries as a peer
Companies that benchmark against FRD
1 company names FRD as a compensation peer
- Metallus Inc.MTUSFY2025
Each company listed discloses FRD 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 FRD in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
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.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Friedman Industries Inc | 2026 | Michael Taylor | $750,000 | $718,234 | $0 | $0 | $2,709,607 |
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.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2025 | 2025-09-18 | 3,363,395 | 82,140 | 60,822 | 97.62% | Passed |
| 2024 | 2024-09-18 | 3,932,832 | 200,780 | 22,883 | 95.14% | Passed |
| 2023 | 2023-09-13 | 4,087,864 | 55,336 | 46,561 | 97.57% | Passed |
| 2022 | 2022-09-13 | 3,527,301 | 743,489 | 17,331 | 82.26% | Passed |
| 2021 | 2021-09-10 | 4,033,243 | 101,670 | 17,808 | 97.12% | Passed |
| 2020 | 2020-09-10 | 3,421,212 | 278,386 | 121,620 | 89.53% | 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 year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2025 | 2025-09-18 | 97.62%a |
| 2024 | 2024-09-18 | 95.14%b |
| 2023 | 2023-09-13 | 97.57%c |
a. Voting standard not stated in the filing.
b. Voting standard not stated in the filing.
c. Approved under the standard stated in the filing — “Abstentions with respect to the approval of this proposal will have the effect of a vote 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.
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (16 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, Michael Taylor. DEF 14A, filed 2026-07-28. Section “Executive Compensation”. As printed: 2,709,607. View filing ↗
- Section 01, Gaurav Chhibbar. DEF 14A, filed 2026-07-28. Section “Executive Compensation”. As printed: 2,518,500. View filing ↗
- Section 01, Alex LaRue. DEF 14A, filed 2026-07-28. Section “Executive Compensation”. As printed: 870,434. View filing ↗
- Section 08, Sharon Taylor. DEF 14A, filed 2026-07-28. Section “Director Compensation”. As printed: 59,000. View filing ↗
- Section 08, Max Reichenthal. DEF 14A, filed 2026-07-28. Section “Director Compensation”. As printed: 55,000. View filing ↗
- Section 08, Tim Stevenson. DEF 14A, filed 2026-07-28. Section “Director Compensation”. As printed: 55,000. View filing ↗
- Section 08, Michael Hanson. DEF 14A, filed 2026-07-28. Section “Director Compensation”. As printed: 46,000. View filing ↗
- Section 08, Sandy Scott. DEF 14A, filed 2026-07-28. Section “Director Compensation”. As printed: 46,000. View filing ↗
- Section 08, Joe L. Williams. DEF 14A, filed 2026-07-28. Section “Director Compensation”. As printed: 46,000. View filing ↗
- Section 08, Michael J. Taylor. DEF 14A, filed 2026-07-28. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-09-23. Item 5.07 · say-on-pay result. As reported: 97.62% (votes for as printed: 3,363,395). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-09-20. Item 5.07 · say-on-pay result. As reported: 95.14% (votes for as printed: 3,932,832). View filing ↗
- Section 06, 2023 vote. Form 8-K, filed 2023-09-14. Item 5.07 · say-on-pay result. As reported: 97.57% (votes for as printed: 4,087,864). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 09b board cost (computed). Computed. Cash 246,000 + equity 0 + all other 60,000 = 306,000, summed across the director compensation table rows.
- Friedman Industries Inc (subject), Section 10b CEO total. DEF 14A, filed 2026-07-28. CEO total compensation as printed in Friedman Industries Inc's own proxy. As printed: 2,709,607. View filing ↗