Companies Gatx Corp
Gatx (GATX): executive pay, fiscal 2025
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CEO pay, last three years
- $6,472,498FY2023
- $6,846,635FY2024
- $8,178,380FY2025
CEO total pay was $8,178,380 in fiscal 2025, up from $6,846,635 in fiscal 2024.
FY2025: salary $991,667 · stock awards $2,281,830 · option awards $2,302,105
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 |
|---|---|---|---|---|---|---|---|---|
| Robert Lyons | $991,667 | — | $2,281,830 | $2,302,105 | $1,012,093 | $1,564,936 | $25,750 | $8,178,380 |
| President and Chief Executive Officer | ||||||||
| Thomas Ellman | 637,583 | 450,000 | 721,278 | 729,575 | 455,502 | 485,641 | 15,750 | 3,495,329 |
| Executive Vice President and Chief Financial Officer | ||||||||
| Paul Titterton | 625,000 | 450,000 | 636,519 | 640,843 | 446,511 | 390,427 | 15,750 | 3,205,050 |
| Executive Vice President and President, Rail North America | ||||||||
| Brian Glassberg | 461,250 | 450,000 | 305,795 | 305,633 | 258,913 | 70,800 | 15,750 | 1,868,141 |
| Executive Vice President, General Counsel and Secretary | ||||||||
| Kim Nero | 443,533 | — | 265,909 | 266,196 | 309,954 | 45,451 | 15,750 | 1,346,793 |
| Executive Vice President and 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 officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Robert Lyons | $8,178,380 | $6,846,635 | $6,472,498 | ↑ +1,331,745 |
| Thomas Ellman | 3,495,329 | 2,519,231 | 2,797,020 | ↑ +976,098 |
| Paul Titterton | 3,205,050 | 2,140,182 | 2,059,073 | ↑ +1,064,868 |
| Brian Glassberg | 1,868,141 | 1,311,407 | 1,152,662 | ↑ +556,734 |
| Kim Nero | 1,346,793 | 1,252,400 | 1,183,491 | ↑ +94,393 |
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
Our executive compensation program is designed and managed by our Compensation Committee to motivate and retain management through each stage of the business cycle, including both strong and weak railcar leasing environments. The Compensation Committee sets goals intended to align executive compensation with the appropriate achievement of our dual goals of growth and return at various points in the business cycle.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Pay Governance LLC |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Paul Titterton | PSU | 2025-01-30 | 958 | 3,830 | — | 7,660 | $636,519 |
| Brian Glassberg | PSU | 2025-01-30 | 460 | 1,840 | — | 3,680 | 305,795 |
| Robert Lyons | PSU | 2025-01-30 | 3,433 | 13,730 | — | 27,460 | 2,281,830 |
| Kim Nero | PSU | 2025-01-30 | 400 | 1,600 | — | 3,200 | 265,909 |
| Thomas Ellman | PSU | 2025-01-30 | 1,085 | 4,340 | — | 8,680 | 721,278 |
| Brian Glassberg | OPTION | 2025-01-30 | — | — | 6,200 | — | 305,633 |
| Paul Titterton | OPTION | 2025-01-30 | — | — | 13,000 | — | 640,843 |
| Kim Nero | OPTION | 2025-01-30 | — | — | 5,400 | — | 266,196 |
| Thomas Ellman | OPTION | 2025-01-30 | — | — | 14,800 | — | 729,575 |
| Robert Lyons | OPTION | 2025-01-30 | — | — | 46,700 | — | 2,302,105 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Paul Titterton | $0 | $636,519 | $640,843 | 49.8% |
| Brian Glassberg | 0 | 305,795 | 305,633 | 50.0% |
| Robert Lyons | 0 | 2,281,830 | 2,302,105 | 49.8% |
| Kim Nero | 0 | 265,909 | 266,196 | 50.0% |
| Thomas Ellman | 0 | 721,278 | 729,575 | 49.7% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Kim Nero | PSU | 1,600 | — | $271,360 |
| Brian Glassberg | PSU | 1,840 | — | 312,064 |
| Brian Glassberg | Option | 1,867 | 113.28 | — |
| Kim Nero | Option | 1,967 | 113.28 | — |
| Kim Nero | PSU | 2,110 | — | 357,856 |
| Brian Glassberg | PSU | 2,200 | — | 373,120 |
| Paul Titterton | Option | 3,134 | 113.28 | — |
| Paul Titterton | PSU | 3,830 | — | 649,568 |
| Kim Nero | Option | 3,867 | 126.47 | — |
| Brian Glassberg | Option | 4,067 | 126.47 | — |
| Paul Titterton | PSU | 4,230 | — | 717,408 |
| Thomas Ellman | PSU | 4,340 | — | 736,064 |
| Thomas Ellman | Option | 5,000 | 113.28 | — |
| Kim Nero | Option | 5,400 | 166.19 | — |
| Thomas Ellman | PSU | 5,540 | — | 939,584 |
| Brian Glassberg | Option | 6,200 | 166.19 | — |
| Paul Titterton | Option | 7,734 | 126.47 | — |
| Thomas Ellman | Option | 10,134 | 126.47 | — |
| Paul Titterton | Option | 13,000 | 166.19 | — |
| Robert Lyons | PSU | 13,730 | — | 2,328,608 |
| Robert Lyons | Option | 14,567 | 113.28 | — |
| Thomas Ellman | Option | 14,800 | 166.19 | — |
| Robert Lyons | PSU | 16,280 | — | 2,761,088 |
| Robert Lyons | Option | 29,800 | 126.47 | — |
| Robert Lyons | Option | 46,700 | 166.19 | — |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| James B. ReamIndependent · Board Chair | $165,000 | $134,936 | — | — | — | $299,936 |
| Diane M. AigottiIndependent · Audit Committee (Chair) | 112,500 | 134,936 | — | — | — | 247,436 |
| Anne L. ArviaIndependent · Governance Committee (Chair) | 105,000 | 134,936 | — | — | — | 239,936 |
| Adam L. StanleyIndependent · Compensation Committee (Chair) | 101,962 | 134,936 | — | — | — | 236,898 |
| John M. HolmesIndependent · Board of Directors · Audit | 90,000 | 134,936 | — | — | — | 224,936 |
| Shelley J. BauschIndependent · Board of Directors · Audit · Governance | 90,000 | 134,936 | — | — | — | 224,936 |
| Paul G. YovovichIndependent · Board of Directors · Compensation · Governance | 90,000 | 134,936 | — | — | — | 224,936 |
| Robert S. WetherbeeIndependent · Board of Directors · Audit · Compensation · Newly elected | 42,147 | 105,798 | — | — | — | 147,945 |
| David S. SutherlandIndependent | 35,833 | — | — | — | — | 35,833 |
| Robert C. LyonsEmployee director · Board of Directors | — | — | — | — | — | 0 |
Board fee structure and ownership guideline
| Annual cash retainer | $90,000 |
|---|---|
| Annual equity retainer | $135,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 22,500 / 17,500 / 15,000 |
| Stock ownership guideline | $5 |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $832,442 |
| Equity awards (grant-date value) | $1,050,350 |
| All other compensation | $0 |
| Total cost of the board | $1,882,792 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Gatx as a peer
Companies that benchmark against GATX
11 companies name GATX as a compensation peer
- Custom Truck One Source, Inc.CTOSFY2025
- GREENBRIER COMPANIES INCGBXFY2025
- HERC HOLDINGS INCHRIFY2025
- KIRBY CORPKEXFY2025
- REPUBLIC AIRWAYS HOLDINGS INC.RJETFY2025
- RYDER SYSTEM INCRFY2025
- SHYFT GROUP, INC.SHYFFY2024
- SUMISHO AIR LEASE CORPALFY2025
- Titan Machinery Inc.TITNFY2026
- TRINITY INDUSTRIES INCTRNFY2025
- WILLIS LEASE FINANCE CORPWLFCFY2025
- WillScot Holdings CorpWSCFY2025
Each company listed discloses GATX 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 GATX 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 | Gatx Corp | 2025 | Robert Lyons | $991,667 | $2,281,830 | $2,302,105 | $1,012,093 | $8,178,380 |
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 |
|---|---|---|---|---|---|---|
| 2026 | 2026-04-24 | 32,305,678 | 477,627 | 50,143 | 98.54% | Passed |
| 2025 | 2025-04-25 | 32,180,850 | 458,662 | 79,714 | 98.59% | Passed |
| 2024 | 2024-04-26 | 32,049,856 | 795,618 | 71,269 | 97.58% | Passed |
| 2023 | 2023-04-28 | 31,218,298 | 944,512 | 79,996 | 97.06% | Passed |
| 2022 | 2022-04-22 | 31,149,727 | 873,969 | 61,910 | 97.27% | Passed |
| 2021 | 2021-04-23 | 31,415,938 | 826,244 | 70,636 | 97.44% | 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 |
|---|---|---|
| 2026 | 2026-04-24 | 98.54%a |
| 2025 | 2025-04-25 | 98.59%b |
| 2024 | 2024-04-26 | 97.58%c |
a. Approved under the standard stated in the filing — “Abstentions and broker non-votes are not considered votes cast and will have no effect on the outcome of this Proposal 2.”.
b. Voting standard not stated in the filing.
c. Voting standard not stated in the filing.
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.
CEO pay ratio
| Ratio (CEO : median employee) | 92 : 1 |
|---|---|
| CEO total compensation | $6,846,635 |
| Median employee compensation | $74,025 |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (33 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, Robert Lyons. DEF 14A, filed 2026-03-13. Section “Summary Compensation Table” · page 57. As printed: 8,178,380. View filing ↗
- Section 01, Thomas Ellman. DEF 14A, filed 2026-03-13. Section “Summary Compensation Table” · page 57. As printed: 3,495,329. View filing ↗
- Section 01, Paul Titterton. DEF 14A, filed 2026-03-13. Section “Summary Compensation Table” · page 57. As printed: 3,205,050. View filing ↗
- Section 01, Brian Glassberg. DEF 14A, filed 2026-03-13. Section “Summary Compensation Table” · page 57. As printed: 1,868,141. View filing ↗
- Section 01, Kim Nero. DEF 14A, filed 2026-03-13. Section “Summary Compensation Table” · page 57. As printed: 1,346,793. View filing ↗
- Section 03, Paul Titterton PSU. DEF 14A, filed 2026-03-13. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, Brian Glassberg PSU. DEF 14A, filed 2026-03-13. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, Robert Lyons PSU. DEF 14A, filed 2026-03-13. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, Kim Nero PSU. DEF 14A, filed 2026-03-13. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, Thomas Ellman PSU. DEF 14A, filed 2026-03-13. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, Brian Glassberg OPTION. DEF 14A, filed 2026-03-13. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, Paul Titterton OPTION. DEF 14A, filed 2026-03-13. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, Kim Nero OPTION. DEF 14A, filed 2026-03-13. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, Thomas Ellman OPTION. DEF 14A, filed 2026-03-13. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, Robert Lyons OPTION. DEF 14A, filed 2026-03-13. Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2025-03-14. Section “CEO Pay Ratio”. As printed: 92 : 1. View filing ↗
- Section 08, James B. Ream. DEF 14A, filed 2026-03-13. Section “Director Compensation”. As printed: 299,936. View filing ↗
- Section 08, Diane M. Aigotti. DEF 14A, filed 2026-03-13. Section “Director Compensation”. As printed: 247,436. View filing ↗
- Section 08, Anne L. Arvia. DEF 14A, filed 2026-03-13. Section “Director Compensation”. As printed: 239,936. View filing ↗
- Section 08, Adam L. Stanley. DEF 14A, filed 2026-03-13. Section “Director Compensation”. As printed: 236,898. View filing ↗
- Section 08, John M. Holmes. DEF 14A, filed 2026-03-13. Section “Director Compensation”. As printed: 224,936. View filing ↗
- Section 08, Shelley J. Bausch. DEF 14A, filed 2026-03-13. Section “Director Compensation”. As printed: 224,936. View filing ↗
- Section 08, Paul G. Yovovich. DEF 14A, filed 2026-03-13. Section “Director Compensation”. As printed: 224,936. View filing ↗
- Section 08, Robert S. Wetherbee. DEF 14A, filed 2026-03-13. Section “Director Compensation”. As printed: 147,945. View filing ↗
- Section 08, David S. Sutherland. DEF 14A, filed 2026-03-13. Section “Director Compensation”. As printed: 35,833. View filing ↗
- Section 08, Robert C. Lyons. DEF 14A, filed 2026-03-13. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-04-28. Item 5.07 · say-on-pay result. As reported: 98.54% (votes for as printed: 32,305,678). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-04-30. Item 5.07 · say-on-pay result. As reported: 98.59% (votes for as printed: 32,180,850). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-04-30. Item 5.07 · say-on-pay result. As reported: 97.58% (votes for as printed: 32,049,856). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- 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).
- Section 09b board cost (computed). Computed. Cash 832,442 + equity 1,050,350 + all other 0 = 1,882,792, summed across the director compensation table rows.
- Gatx Corp (subject), Section 10b CEO total. DEF 14A, filed 2026-03-13. CEO total compensation as printed in Gatx Corp's own proxy. As printed: 8,178,380. View filing ↗