Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-04-21

Fuller H B (FUL)

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.

$8,830,569
Celeste Mastin total, FY2025
CEO pay percentile vs peers
137:1
CEO-to-median pay ratio
97.3%
Say-on-pay support, latest vote
Companies that benchmark against FUL
26 companies name FUL as a compensation peer

Each company listed discloses FUL 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 FUL 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
Celeste Mastin$1,082,692$0$2,971,976$3,025,538$1,339,891$5,294$405,178$8,830,569
President and Chief Executive Officer
John Corkrean633,3310582,354550,098501,51916,131150,3092,433,741
Executive Vice President & Chief Financial Officer
Nathan Weaver515,0000326,382332,342356,52836,480143,2801,710,013
Executive Vice President, Business Transformation
James East538,0240326,382332,342330,4187,768119,7951,654,730
Executive Vice President, Hygiene, Health and Consumable Adhesives
M. Shahbaz Malik509,879200,000225,039229,196244,9946,255149,2921,564,656
Senior Vice President Building Adhesive Solutions

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
Celeste Mastin$8,830,569$7,840,716$5,050,902+989,853
John Corkrean2,433,7412,514,0632,017,538−80,322
Nathan Weaver1,710,013
James East1,654,7301,552,3711,522,802+102,359
M. Shahbaz Malik1,564,6561,617,064−52,408

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
Celeste MastinPSU48,086$2,802,452
Celeste MastinPSU35,4602,066,609
Celeste MastinRSU24,0431,401,226
Celeste MastinRSU11,881692,425
Celeste MastinPSU9,910577,555
John CorkreanPSU8,742509,484
John CorkreanPSU8,510495,963
Nathan WeaverPSU5,280307,718
James EastPSU5,280307,718
John CorkreanRSU4,371254,742
Celeste MastinRSU4,214245,592
James EastPSU4,190244,193
M. Shahbaz MalikPSU3,674214,121
M. Shahbaz MalikPSU3,642212,256
Nathan WeaverPSU3,368196,287
Nathan WeaverRSU2,640153,859
John CorkreanPSU3,059178,279
John CorkreanRSU2,853166,273
James EastRSU2,640153,859
M. Shahbaz MalikRSU1,821106,128
James EastPSU1,807105,312
James EastRSU1,40581,883
John CorkreanOption7,58768.17
M. Shahbaz MalikPSU1,38980,951
Nathan WeaverPSU1,32176,988
John CorkreanRSU1,30275,881
M. Shahbaz MalikRSU1,23371,859
Nathan WeaverRSU1,12965,798
James EastRSU77044,876
M. Shahbaz MalikRSU59234,502
Nathan WeaverRSU56332,812
Celeste MastinOption24,56968.17
Celeste MastinOption69,16377.72
Celeste MastinOption135,13564.28
John CorkreanOption16,59977.72
John CorkreanOption24,57064.28
Nathan WeaverOption3,27668.17
Nathan WeaverOption6,57177.72
Nathan WeaverOption14,84464.28
James EastOption4,48368.17
James EastOption8,17477.72
James EastOption14,84464.28
M. Shahbaz MalikOption3,44868.17
M. Shahbaz MalikOption7,16877.72
M. Shahbaz MalikOption10,23764.28
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-04-1648,718,1661,227,485122,04197.3%Passed
20252025-04-1548,303,3991,305,400133,87397.11%Passed
20242024-04-1147,799,5821,431,498166,53596.76%Passed
20232023-04-0645,666,9292,818,110246,73693.71%Passed
20222022-04-0736,835,4397,873,43493,82982.22%Passed
20212021-04-0843,887,5653,096,624121,90993.17%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
20262026-04-1697.3%a
20252025-04-1597.11%b
20242024-04-1196.76%c

a. Approved under the standard stated in the filing — “If you "ABSTAIN" from voting on any proposal, your abstention has the same effect as a vote against that proposal.”.

b. Approved under the standard stated in the filing — “If you "ABSTAIN" from voting on any proposal, your abstention has the same effect as a vote against that proposal.”.

c. Approved under the standard stated in the filing — “If you "ABSTAIN" from voting on any proposal, your abstention has the same effect as a vote against that 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)137 : 1
CEO total compensation
Median employee compensation$64,315
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Teresa J. RasmussenIndependent · Board Chair · Compensation · Corporate Governance and Nominating (Chair)$204,958$185,496$0$390,454
Thomas W. HandleyIndependent · Audit (Chair) · Corporate Governance and Nominating · Not standing for re-election121,250177,1250298,375
Ruth S. KimmelshueIndependent · Audit · Compensation (Chair) · Not standing for re-election118,125176,8130294,938
Charles T. LauberIndependent · Audit · Not standing for re-election100,000175,0001,241276,241
Michael J. HappeIndependent · Not standing for re-election100,000174,1670274,167
Daniel L. FlornessIndependent · Audit · Corporate Governance and Nominating100,000173,0000273,000
Srilata A. ZaheerIndependent · Audit · Compensation · Not standing for re-election100,000165,000299265,299
Lee R. MitauIndependent · Not standing for re-election · Departed during FY41,6114,161045,772
Celeste B. MastinEmployee director · Not standing for re-election0
Celine C. MartinIndependent · Audit · Compensation · Newly elected
09

Board fee structure and ownership guideline

Annual cash retainer$100,000
Annual equity retainer$165,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)25,000 / 20,000 / 15,000
Stock ownership guideline$5
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$885,944
Equity awards (grant-date value)$1,230,762
All other compensation$1,540
Total cost of the board$2,118,246

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 Fuller H B 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 Fuller H B.

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
1Element Solutions Inc.2025Benjamin H. Gliklich$1,087,500$23,688,894$0$1,520,947$26,480,462
2Eastman Chemical Company2025Mark Costa1,406,95812,682,2003,278,151987,00019,498,966
3Albemarle Corporation2025J. Kent Masters Jr.1,400,0007,949,6402,500,0173,247,61815,513,654
4International Flavors & Fragrances Inc.2025J. Erik Fyrwald1,026,25011,656,76402,047,23015,002,866
5FMC Corporation2025Pierre Brondeau1,334,1256,257,9192,373,4201,798,26112,038,391
6RPM International Inc.2025Frank Sullivan1,100,0005,494,5212,653,4181,513,00011,158,125
7Aptar Group Inc.2025Stephan Tanda1,175,0006,096,6701,681,509518,43310,226,911
8Celanese Corporation2025Scott Richardson5,249,9582,249,9901,342,62510,137,072
9Axalta Coating Systems Ltd.2025Chris Villavarayan1,100,0007,389,5520973,3919,551,721
10Avery Dennison Corporation2025Deon Stander1,136,5387,649,4300605,4759,538,375
11Graco Inc.2025Mark Sheahan1,065,00005,749,7751,259,9079,491,330
12Cabot Corporation2025Sean Keohane1,100,0004,224,8472,274,9251,402,5019,307,883
13Fuller H B2025Celeste Mastin1,082,6922,971,9763,025,5381,339,8918,830,569
14Donaldson Company, Inc.2025Tod Carpenter1,095,3852,853,6302,849,9451,325,5448,297,471
15Nordson Corporation2025Sundaram Nagarajan1,049,3853,514,4131,519,5471,327,4728,153,900
16Hexcel Corporation2025Thomas Gentile III1,100,0003,374,9611,685,259923,2307,252,875
17Avient Corporation2025Ashish Khandpur1,128,2693,763,1590753,7775,818,257
18Quaker Chemical Corporation2025Joseph Berquist800,0002,420,3190461,8403,709,451
Olin Corporationnot in coverage universe
Sensient Technologies Corporationnot 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
Fuller H Bnot disclosednot disclosednot disclosednot disclosed
Albemarle Corporationnot disclosednot disclosednot disclosedFarient Advisors LLC
Aptar Group Inc.67.9%PSU 50 · RSU 25 · Options 25NoPay Governance
Avery Dennison Corporation39%PSU 100Yes — Relative TSRWillis Towers Watson (WTW) and Semler Brossy
Avient Corporation51.6%Cash LTI 60 · RSU 40Yes — Total Shareholder Return Relative to Peer Group (rTSR)Pearl Meyer
Axalta Coating Systems Ltd.71.7%PSU 60 · RSU 40Yes — Relative TSRPearl Meyer
Cabot Corporation90%PSU 35 · Options 35 · RSU 30NoMeridian Compensation Partners
Celanese Corporation93.4%PSU 70 · Options 30NoWillis Towers Watson PLC
Donaldson Company, Inc.100.42%PSU 50 · Options 50NoWTW
Eastman Chemical Company47%PSA 60 · Option 20 · RSU 20Yes — Relative total shareholder return (rTSR)Aon plc
Element Solutions Inc.126%PSU 67 · RSU 33NoFW Cook
FMC Corporation89.1%PSU 50 · Options 30 · RSU 20YesAon plc
Graco Inc.118%Options 100not disclosedWillis Towers Watson
Hexcel Corporation76.3%not disclosedNoSemler Brossy
International Flavors & Fragrances Inc.98.9%PSU 60 · RSU 40Yes — Relative TSR vs. S&P 500 - ChemicalsFW Cook
Nordson Corporationnot disclosednot disclosednot disclosedFW Cook
Olin Corporationnot disclosednot disclosednot disclosednot disclosed
Quaker Chemical Corporationnot disclosedPSU 60 · RSU 40not disclosedMeridian Compensation Partners
RPM International Inc.110%not disclosedNoWillis Towers Watson
Sensient Technologies Corporationnot disclosednot disclosednot disclosednot disclosed

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.

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, Celeste MastinDEF 14A2026-03-040001437749-26-006811Section “Summary Compensation Table”. As printed: 8,830,569. Filing ↗machine: r2 · c18 · span 903228–903237
2Section 01, John CorkreanDEF 14A2026-03-040001437749-26-006811Section “Summary Compensation Table”. As printed: 2,433,741. Filing ↗machine: r7 · c18 · span 918125–918134
3Section 01, Nathan WeaverDEF 14A2026-03-040001437749-26-006811Section “Summary Compensation Table”. As printed: 1,710,013. Filing ↗machine: r12 · c18 · span 932184–932193
4Section 01, James EastDEF 14A2026-03-040001437749-26-006811Section “Summary Compensation Table”. As printed: 1,654,730. Filing ↗machine: r17 · c18 · span 946403–946412
5Section 01, M. Shahbaz MalikDEF 14A2026-03-040001437749-26-006811Section “Summary Compensation Table”. As printed: 1,564,656. Filing ↗machine: r23 · c18 · span 963968–963977
6Section 07, pay ratioDEF 14A2026-03-040001437749-26-006811Section “CEO Pay Ratio”. As printed: 137 : 1. Filing ↗
7Section 08, Teresa J. RasmussenDEF 14A2026-03-040001437749-26-006811Section “Director Compensation”. As printed: 390,454. Filing ↗machine: span 433214–433221
8Section 08, Thomas W. HandleyDEF 14A2026-03-040001437749-26-006811Section “Director Compensation”. As printed: 298,375. Filing ↗machine: span 427772–427779
9Section 08, Ruth S. KimmelshueDEF 14A2026-03-040001437749-26-006811Section “Director Compensation”. As printed: 294,938. Filing ↗machine: span 429650–429657
10Section 08, Charles T. LauberDEF 14A2026-03-040001437749-26-006811Section “Director Compensation”. As printed: 276,241. Filing ↗machine: span 430449–430456
11Section 08, Michael J. HappeDEF 14A2026-03-040001437749-26-006811Section “Director Compensation”. As printed: 274,167. Filing ↗machine: span 428710–428717
12Section 08, Daniel L. FlornessDEF 14A2026-03-040001437749-26-006811Section “Director Compensation”. As printed: 273,000. Filing ↗machine: span 426833–426840
13Section 08, Srilata A. ZaheerDEF 14A2026-03-040001437749-26-006811Section “Director Compensation”. As printed: 265,299. Filing ↗machine: span 434350–434357
14Section 08, Lee R. MitauDEF 14A2026-03-040001437749-26-006811Section “Director Compensation”. As printed: 45,772. Filing ↗machine: span 432274–432280
15Section 08, Celeste B. MastinDEF 14A2026-03-040001437749-26-006811Section “Director Compensation”. As printed: 0. Filing ↗
16Section 08, Celine C. MartinDEF 14A2026-03-040001437749-26-006811Section “Director Compensation”. As printed: —. Filing ↗
17Section 06, 2026 voteForm 8-K2026-04-170001437749-26-012689Item 5.07 · say-on-pay result. As reported: 97.3% (votes for as printed: 48,718,166). Filing ↗
18Section 06, 2025 voteForm 8-K2025-04-160001437749-25-012123Item 5.07 · say-on-pay result. As reported: 97.11% (votes for as printed: 48,303,399). Filing ↗
19Section 06, 2024 voteForm 8-K2024-04-120001437749-24-011859Item 5.07 · say-on-pay result. As reported: 96.76% (votes for as printed: 47,799,582). Filing ↗
20Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
21Section 09b board cost (computed)ComputedcomputedCash 885,944 + equity 1,230,762 + all other 1,540 = 2,118,246, summed across the director compensation table rows.machine: formula: Σ = 2,118,246
22Element Solutions Inc., Section 10b CEO totalDEF 14A2026-03-230001590714-26-000034CEO total compensation as printed in Element Solutions Inc.'s own proxy. As printed: 26,480,462. Filing ↗machine: r3 · c27 · span 596335–596345
23Eastman Chemical Company, Section 10b CEO totalDEF 14A2026-03-240000915389-26-000074CEO total compensation as printed in Eastman Chemical Company's own proxy. As printed: 19,498,966. Filing ↗machine: r2 · c27 · span 1263333–1263343
24Albemarle Corporation, Section 10b CEO totalDEF 14A2026-03-240000915913-26-000050CEO total compensation as printed in Albemarle Corporation's own proxy. As printed: 15,513,654. Filing ↗machine: span 959225–959235
25International Flavors & Fragrances Inc., Section 10b CEO totalDEF 14A2026-03-180001140361-26-009960CEO total compensation as printed in International Flavors & Fragrances Inc.'s own proxy. As printed: 15,002,866. Filing ↗machine: t297 · r2 · c25 · span 1428753–1428763
26FMC Corporation, Section 10b CEO totalDEF 14A2026-03-130001308179-26-000056CEO total compensation as printed in FMC Corporation's own proxy. As printed: 12,038,391. Filing ↗machine: r1 · c18 · span 737212–737222
27RPM International Inc., Section 10b CEO totalDEF 14A2025-08-210001193125-25-185345CEO total compensation as printed in RPM International Inc.'s own proxy. As printed: 11,158,125. Filing ↗machine: r4 · c35 · span 833989–833999
28Aptar Group Inc., Section 10b CEO totalDEF 14A2026-03-270001104659-26-035722CEO total compensation as printed in Aptar Group Inc.'s own proxy. As printed: 10,226,911. Filing ↗machine: t187 · r9 · c18 · span 1230224–1230234
29Celanese Corporation, Section 10b CEO totalDEF 14A2026-03-040001306830-26-000052CEO total compensation as printed in Celanese Corporation's own proxy. As printed: 10,137,072. Filing ↗
30Axalta Coating Systems Ltd., Section 10b CEO totalDEF 14A2026-04-210001193125-26-166838CEO total compensation as printed in Axalta Coating Systems Ltd.'s own proxy. As printed: 9,551,721. Filing ↗machine: r2 · c31 · span 850079–850088
31Avery Dennison Corporation, Section 10b CEO totalDEF 14A2026-03-120001193125-26-102965CEO total compensation as printed in Avery Dennison Corporation's own proxy. As printed: 9,538,375. Filing ↗machine: span 1488950–1488959
32Graco Inc., Section 10b CEO totalDEF 14A2026-03-110001193125-26-101267CEO total compensation as printed in Graco Inc.'s own proxy. As printed: 9,491,330. Filing ↗machine: r2 · c35 · span 436111–436120
33Cabot Corporation, Section 10b CEO totalDEF 14A2026-01-270001193125-26-023681CEO total compensation as printed in Cabot Corporation's own proxy. As printed: 9,307,883. Filing ↗machine: r3 · c39 · span 853934–853943
34Fuller H B (subject), Section 10b CEO totalDEF 14A2026-03-040001437749-26-006811CEO total compensation as printed in Fuller H B's own proxy. As printed: 8,830,569. Filing ↗machine: r2 · c18 · span 903228–903237
35Donaldson Company, Inc., Section 10b CEO totalDEF 14A2025-10-060000029644-25-000120CEO total compensation as printed in Donaldson Company, Inc.'s own proxy. As printed: 8,297,471. Filing ↗machine: r2 · c24 · span 602669–602678
36Nordson Corporation, Section 10b CEO totalDEF 14A2026-01-160001193125-26-014662CEO total compensation as printed in Nordson Corporation's own proxy. As printed: 8,153,900. Filing ↗machine: r4 · c29 · span 1301788–1301797
37Hexcel 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
38Avient Corporation, Section 10b CEO totalDEF 14A2026-03-270001628280-26-021576CEO total compensation as printed in Avient Corporation's own proxy. As printed: 5,818,257. Filing ↗machine: t45 · r2 · c8 · span 748439–748448
39Quaker Chemical Corporation, Section 10b CEO totalDEF 14A2026-03-310001628280-26-022236CEO total compensation as printed in Quaker Chemical Corporation's own proxy. As printed: 3,709,451. Filing ↗machine: r2 · c27 · span 836235–836244
40Section 10a, Eastman Chemical Company reciprocityDEF 14A0000915389-26-000074Eastman Chemical Company's most recent proxy was read; its disclosed peer group does not include Fuller H B. Filing ↗
41Section 10a, Graco Inc. reciprocityDEF 14A0001193125-26-101267Graco Inc.'s most recent proxy was read; its disclosed peer group does not include Fuller H B. Filing ↗
42Section 10a, Avery Dennison Corporation reciprocityDEF 14A0001193125-26-102965Avery Dennison Corporation names Fuller H B in its own disclosed peer group (read from its most recent proxy). Filing ↗
43Section 10a, Donaldson Company, Inc. reciprocityDEF 14A0000029644-25-000120Donaldson Company, Inc.'s most recent proxy was read; its disclosed peer group does not include Fuller H B. Filing ↗
44Section 10a, Aptar Group Inc. reciprocityDEF 14A0001104659-26-035722Aptar Group Inc.'s most recent proxy was read; its disclosed peer group does not include Fuller H B. Filing ↗
45Section 10a, Axalta Coating Systems Ltd. reciprocityDEF 14A0001193125-26-166838Axalta Coating Systems Ltd. names Fuller H B in its own disclosed peer group (read from its most recent proxy). Filing ↗
46Section 10a, Nordson Corporation reciprocityDEF 14A0001193125-26-014662Nordson Corporation's most recent proxy was read; its disclosed peer group does not include Fuller H B. Filing ↗
47Section 10a, Element Solutions Inc. reciprocityDEF 14A0001590714-26-000034Element Solutions Inc. names Fuller H B in its own disclosed peer group (read from its most recent proxy). Filing ↗
48Section 10a, Hexcel Corporation reciprocityDEF 14A0001193125-26-135884Hexcel Corporation names Fuller H B in its own disclosed peer group (read from its most recent proxy). Filing ↗
49Section 10a, Cabot Corporation reciprocityDEF 14A0001193125-26-023681Cabot Corporation names Fuller H B in its own disclosed peer group (read from its most recent proxy). Filing ↗
50Section 10a, Celanese Corporation reciprocityDEF 14A0001306830-26-000052Celanese Corporation's most recent proxy was read; its disclosed peer group does not include Fuller H B. Filing ↗
51Section 10a, Avient Corporation reciprocityDEF 14A0001628280-26-021576Avient Corporation names Fuller H B in its own disclosed peer group (read from its most recent proxy). Filing ↗
52Section 10a, FMC Corporation reciprocityDEF 14A0001308179-26-000056FMC Corporation names Fuller H B in its own disclosed peer group (read from its most recent proxy). Filing ↗
53Section 10a, Albemarle Corporation reciprocityDEF 14A0000915913-26-000050Albemarle Corporation's most recent proxy was read; its disclosed peer group does not include Fuller H B. Filing ↗
54Section 10a, International Flavors & Fragrances Inc. reciprocityDEF 14A0001140361-26-009960International Flavors & Fragrances Inc.'s most recent proxy was read; its disclosed peer group does not include Fuller H B. Filing ↗
55Section 10a, RPM International Inc. reciprocityDEF 14A0001193125-25-185345RPM International Inc. names Fuller H B in its own disclosed peer group (read from its most recent proxy). Filing ↗
56Section 10a, Quaker Chemical Corporation reciprocityDEF 14A0001628280-26-022236Quaker Chemical Corporation names Fuller H B in its own disclosed peer group (read from its most recent proxy). Filing ↗