Companies Haverty Furniture Companies
Haverty Furniture Companies (HVT): executive pay, fiscal 2025
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CEO pay, last three years
- $1,391,998FY2023
- $1,199,124FY2024
- $2,635,789FY2025
CEO total pay was $2,635,789 in fiscal 2025, up from $1,199,124 in fiscal 2024.
FY2025: salary $650,000 · bonus $0 · stock awards $1,072,192 · 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 |
|---|---|---|---|---|---|---|---|---|
| Steven Burdette | $650,000 | $0 | $1,072,192 | $0 | $844,350 | $23,892 | $45,355 | $2,635,789 |
| President and Chief Executive Officer | ||||||||
| Clarence Smith | 600,000 | 0 | 448,821 | 0 | 586,800 | 66,094 | 45,594 | 1,747,309 |
| Executive Chairman | ||||||||
| Richard Hare | 485,000 | 0 | 435,355 | 0 | 442,708 | 0 | 34,447 | 1,397,510 |
| Executive Vice President, Chief Financial Officer | ||||||||
| John Gill | 440,000 | 0 | 329,143 | 0 | 372,944 | 10,925 | 32,899 | 1,185,911 |
| Executive Vice President, Merchandising | ||||||||
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 |
|---|---|---|---|---|
| Steven Burdette | $2,635,789 | $1,199,124 | $1,391,998 | ↑ +1,436,665 |
| Clarence Smith | 1,747,309 | 2,604,854 | 2,887,694 | ↓ −857,545 |
| Richard Hare | 1,397,510 | 1,028,810 | 1,160,584 | ↑ +368,700 |
| John Gill | 1,185,911 | 877,521 | 980,808 | ↑ +308,390 |
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 goal is to attract and retain talented executives who deliver value to our stockholders by achieving Havertys’ business objectives which drive sustained sales, EBITDA growth, cash flow, and returns to stockholders. Our executive compensation program and overall pay-for-performance philosophy align with that goal and our results, emphasizing variable compensation over fixed pay.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Meridian Compensation Partners, 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 |
|---|---|---|---|---|---|---|---|
| Steven Burdette | RSU | 2025-01-23 | — | — | 9,348 | — | $214,443 |
| Richard Hare | PSU | 2025-01-23 | 4,251 | 10,628 | — | 18,599 | 243,806 |
| Steven Burdette | PSU | 2025-01-23 | 11,965 | 29,913 | — | 52,348 | 686,204 |
| Clarence H. Smith | PSU | 2025-01-23 | 5,009 | 12,522 | — | 21,914 | 287,255 |
| John Gill | RSU | 2025-01-23 | — | — | 4,304 | — | 98,734 |
| Richard Hare | RSU | 2025-01-23 | — | — | 5,693 | — | 130,597 |
| Steven Burdette | PSU | 2025-01-23 | 2,991 | 7,478 | — | 11,217 | 171,545 |
| John Gill | PSU | 2025-01-23 | 804 | 2,009 | — | 3,014 | 46,086 |
| Richard Hare | PSU | 2025-01-23 | 1,063 | 2,657 | — | 3,986 | 60,952 |
| John Gill | PSU | 2025-01-23 | 3,214 | 8,035 | — | 14,061 | 184,323 |
| Clarence H. Smith | PSU | 2025-01-23 | 1,252 | 3,130 | — | 4,695 | 71,802 |
| Clarence H. Smith | RSU | 2025-01-23 | — | — | 3,913 | — | 89,764 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Steven Burdette | $214,443 | $857,749 | $0 | 80.0% |
| Richard Hare | 130,597 | 304,758 | 0 | 70.0% |
| Clarence H. Smith | 89,764 | 359,057 | 0 | 80.0% |
| John Gill | 98,734 | 230,409 | 0 | 70.0% |
% 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 |
|---|---|---|---|---|
| John Gill | RSU | 564 | — | $13,175 |
| Richard Hare | RSU | 752 | — | 17,567 |
| Steven Burdette | RSU | 888 | — | 20,744 |
| John Gill | RSU | 1,792 | — | 41,861 |
| John Gill | RSU | 2,009 | — | 46,930 |
| Richard Hare | RSU | 2,389 | — | 55,807 |
| Richard Hare | RSU | 2,657 | — | 62,068 |
| Smith | RSU | 2,747 | — | 64,170 |
| Steven Burdette | RSU | 2,822 | — | 65,922 |
| John Gill | RSU | 2,829 | — | 66,085 |
| John Gill | RSU | 2,914 | — | 68,071 |
| Smith | RSU | 3,130 | — | 73,117 |
| Richard Hare | RSU | 3,494 | — | 81,620 |
| Richard Hare | RSU | 3,600 | — | 84,096 |
| Smith | RSU | 3,913 | — | 91,408 |
| Steven Burdette | RSU | 4,160 | — | 97,178 |
| John Gill | RSU | 4,252 | — | 99,327 |
| Steven Burdette | RSU | 4,286 | — | 100,121 |
| John Gill | RSU | 4,304 | — | 100,541 |
| Smith | RSU | 5,296 | — | 123,715 |
| Richard Hare | RSU | 5,669 | — | 132,428 |
| Richard Hare | RSU | 5,693 | — | 132,988 |
| Steven Burdette | RSU | 6,697 | — | 156,442 |
| Steven Burdette | RSU | 7,478 | — | 174,686 |
| John Gill | RSU | 8,035 | — | 187,698 |
| Smith | RSU | 8,146 | — | 190,291 |
| Steven Burdette | RSU | 9,348 | — | 218,369 |
| Richard Hare | RSU | 10,628 | — | 248,270 |
| Smith | RSU | 12,522 | — | 292,514 |
| Smith | RSU | 14,091 | — | 329,166 |
| Smith | RSU | 20,722 | — | 484,066 |
| Steven Burdette | RSU | 29,913 | — | 698,768 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| G. Thomas HoughIndependent · Lead Independent Director · Audit · Nominating, Compensation and Governance · Executive (Chair) · Lead Director | $85,000 | $95,000 | — | — | $0 | $180,000 |
| Al TrujilloIndependent · Audit (Chair) · Nominating, Compensation and Governance · Executive | 85,000 | 95,000 | — | — | 0 | 180,000 |
| L. Allison DukesIndependent · Nominating, Compensation and Governance (Chair) · Executive | 75,000 | 95,000 | — | — | 0 | 170,000 |
| Vicki R. PalmerIndependent · Audit | 70,000 | 95,000 | — | — | 0 | 165,000 |
| Michael R. CoteIndependent · Audit | 70,000 | 95,000 | — | — | 0 | 165,000 |
| Derek G. SchillerIndependent · Nominating, Compensation and Governance | 65,000 | 95,000 | — | — | 0 | 160,000 |
| Natalie B. MorhousIndependent · Nominating, Compensation and Governance | 63,333 | 95,000 | — | — | 0 | 158,333 |
| Rawson Haverty JrNot independent | 60,000 | 95,000 | — | — | 0 | 155,000 |
| Clarence H. SmithEmployee director · Board Chair · Executive · Chairman of the Board | — | — | — | — | — | 0 |
| Steven G. BurdetteEmployee director · Executive · Newly elected | — | — | — | — | — | 0 |
| E. Kendrick SmithNot independent · Newly elected | — | — | — | — | — | — |
Board fee structure and ownership guideline
| Annual cash retainer | $60,000 |
|---|---|
| Annual equity retainer | $95,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 15,000 |
| Stock ownership guideline | $5 |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $573,333 |
| Equity awards (grant-date value) | $760,000 |
| All other compensation | $0 |
| Total cost of the board | $1,333,333 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Haverty Furniture Companies as a peer
Companies that benchmark against HVT
5 companies name HVT as a compensation peer
The list of companies that name HVT as a peer is temporarily unavailable — recheck shortly.
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.
Peer reciprocity
The companies Haverty Furniture Companies names as compensation peers that name it back in their own disclosed peer groups.
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 | HNI Corporation | 2025 | Jeffrey Lorenger | $1,056,740 | $5,092,316 | $0 | $1,787,404 | $8,218,947 |
| 2 | La-Z-Boy Incorporated | 2026 | Melinda Whittington | 1,063,000 | 4,711,847 | 0 | 1,261,719 | 7,295,975 |
| 3 | Interface, Inc. | 2025 | Laurel Hurd | 930,000 | 2,821,999 | 0 | 1,769,325 | 5,651,488 |
| 4 | Oxford Industries, Inc. | 2025 | Thomas Chubb III | 900,000 | 3,942,205 | 0 | 388,440 | 5,529,136 |
| 5 | American Woodmark Corp. | 2025 | M. Scott Culbreth | 957,577 | 3,208,446 | 0 | 696,350 | 4,886,047 |
| 6 | Arhaus Inc. | 2025 | John Reed | 1,499,680 | 0 | 0 | 1,349,712 | 4,649,751 |
| 7 | Ethan Allen Interiors Inc. | 2026 | M. Farooq Kathwari | 1,150,050 | 1,518,002 | 0 | 531,300 | 3,253,570 |
| 8 | Haverty Furniture Companies | 2025 | Steven Burdette | 650,000 | 1,072,192 | 0 | 844,350 | 2,635,789 |
| 9 | Flexsteel Industries, Inc. | 2026 | Derek Schmidt | 600,000 | 839,918 | 0 | 972,000 | 2,469,412 |
| 10 | Culp, Inc. | 2026 | Robert Culp | 519,231 | 500,000 | 0 | 0 | 1,129,772 |
| — | Sleep Number Corporation | — | — | — | — | — | — | not in coverage universe |
| — | Tile Shop Holdings, 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.
Incentive design against the same peers
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Haverty Furniture Companies | not disclosed | PRSU 80 · RSU 20 | not disclosed | Meridian Compensation Partners, LLC |
| American Woodmark Corp. | 60.75% | RSU 50 · PSU 50 | No | Meridian Compensation Partners |
| Arhaus Inc. | not disclosed | not disclosed | Yes — relative total shareholder return (TSR) | Aon plc |
| Culp, Inc. | not disclosed | not disclosed | not disclosed | Pearl Meyer & Partners, LLC |
| Ethan Allen Interiors Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Flexsteel Industries, Inc. | not disclosed | not disclosed | not disclosed | Meridian Compensation Partners, LLC |
| HNI Corporation | 140% | PSU 50 · RSU 50 | No | Exequity LLP |
| Interface, Inc. | 152.2% | PSU 50 · RSU 50 | No | Pearl Meyer & Partners |
| La-Z-Boy Incorporated | not disclosed | RSU 50 · PSU 50 | not disclosed | Frederic W. Cook & Co., Inc. |
| Oxford Industries, Inc. | 43% | not disclosed | Yes — Total Shareholder Return (TSR) relative to comparator group | Meridian Compensation Partners, LLC |
| Sleep Number Corporation | not disclosed | not disclosed | not disclosed | Frederic W. Cook & Co., Inc. (FW Cook) |
| Tile Shop Holdings, Inc. | not disclosed | not disclosed | not disclosed | not 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.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-11 | 22,822,106 | 107,626 | 26,935 | 99.53% | Passed |
| 2025 | 2025-05-12 | 23,050,213 | 490,477 | 52,608 | 97.92% | Passed |
| 2024 | 2024-05-06 | 23,251,571 | 497,883 | 40,677 | 97.9% | Passed |
| 2023 | 2023-05-08 | 21,932,710 | 98,974 | 6,225 | 99.55% | Passed |
| 2022 | 2022-05-09 | 22,868,636 | 402,013 | 55,378 | 98.27% | Passed |
| 2021 | 2021-05-10 | 25,273,333 | 278,062 | 52,686 | 98.71% | 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 | 2026-05-11 | 99.53%a |
| 2025 | 2025-05-12 | 97.92%b |
| 2024 | 2024-05-06 | 97.9%c |
a. Approved under the standard stated in the filing — “Advisory Vote on Executive Compensation -- Combined majority of votes cast in person or by proxy”.
b. Approved under the standard stated in the filing — “Advisory Vote on Executive Compensation -- Combined majority of votes cast in person or by proxy | Abstentions: No effect”.
c. Approved under the standard stated in the filing — “An "abstention" will have no effect on the vote's outcome, because an abstention does not count as a vote under Maryland law, and under our bylaws, the candidates who receive the highest number of "for" votes are elected.”.
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) | 38 : 1 |
|---|---|
| CEO total compensation | $2,635,789 |
| Median employee compensation | $70,174 |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (46 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, Steven Burdette. DEF 14A, filed 2026-03-27. Section “Summary Compensation Table” · page 30. As printed: 2,635,789. View filing ↗
- Section 01, Clarence Smith. DEF 14A, filed 2026-03-27. Section “Summary Compensation Table” · page 30. As printed: 1,747,309. View filing ↗
- Section 01, Richard Hare. DEF 14A, filed 2026-03-27. Section “Summary Compensation Table” · page 30. As printed: 1,397,510. View filing ↗
- Section 01, John Gill. DEF 14A, filed 2026-03-27. Section “Summary Compensation Table” · page 30. As printed: 1,185,911. View filing ↗
- Section 03, Steven Burdette RSU. DEF 14A, filed 2026-03-27. Section “Grants of Plan Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, Richard Hare PSU. DEF 14A, filed 2026-03-27. Section “Grants of Plan Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, Steven Burdette PSU. DEF 14A, filed 2026-03-27. Section “Grants of Plan Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, Clarence H. Smith PSU. DEF 14A, filed 2026-03-27. Section “Grants of Plan Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, John Gill RSU. DEF 14A, filed 2026-03-27. Section “Grants of Plan Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, Richard Hare RSU. DEF 14A, filed 2026-03-27. Section “Grants of Plan Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, Steven Burdette PSU. DEF 14A, filed 2026-03-27. Section “Grants of Plan Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, John Gill PSU. DEF 14A, filed 2026-03-27. Section “Grants of Plan Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, Richard Hare PSU. DEF 14A, filed 2026-03-27. Section “Grants of Plan Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, John Gill PSU. DEF 14A, filed 2026-03-27. Section “Grants of Plan Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, Clarence H. Smith PSU. DEF 14A, filed 2026-03-27. Section “Grants of Plan Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 03, Clarence H. Smith RSU. DEF 14A, filed 2026-03-27. Section “Grants of Plan Based Awards Table” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-03-27. Section “CEO Pay Ratio”. As printed: 38 : 1. View filing ↗
- Section 08, G. Thomas Hough. DEF 14A, filed 2026-03-27. Section “Director Compensation”. As printed: 180,000. View filing ↗
- Section 08, Al Trujillo. DEF 14A, filed 2026-03-27. Section “Director Compensation”. As printed: 180,000. View filing ↗
- Section 08, L. Allison Dukes. DEF 14A, filed 2026-03-27. Section “Director Compensation”. As printed: 170,000. View filing ↗
- Section 08, Vicki R. Palmer. DEF 14A, filed 2026-03-27. Section “Director Compensation”. As printed: 165,000. View filing ↗
- Section 08, Michael R. Cote. DEF 14A, filed 2026-03-27. Section “Director Compensation”. As printed: 165,000. View filing ↗
- Section 08, Derek G. Schiller. DEF 14A, filed 2026-03-27. Section “Director Compensation”. As printed: 160,000. View filing ↗
- Section 08, Natalie B. Morhous. DEF 14A, filed 2026-03-27. Section “Director Compensation”. As printed: 158,333. View filing ↗
- Section 08, Rawson Haverty Jr. DEF 14A, filed 2026-03-27. Section “Director Compensation”. As printed: 155,000. View filing ↗
- Section 08, Clarence H. Smith. DEF 14A, filed 2026-03-27. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, Steven G. Burdette. DEF 14A, filed 2026-03-27. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, E. Kendrick Smith. DEF 14A, filed 2026-03-27. Section “Director Compensation”. As printed: —. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-05-14. Item 5.07 · say-on-pay result. As reported: 99.53% (votes for as printed: 22,822,106). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-05-14. Item 5.07 · say-on-pay result. As reported: 97.92% (votes for as printed: 23,050,213). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-05-08. Item 5.07 · say-on-pay result. As reported: 97.9% (votes for as printed: 23,251,571). 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 573,333 + equity 760,000 + all other 0 = 1,333,333, summed across the director compensation table rows.
- HNI Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-25. CEO total compensation as printed in HNI Corporation's own proxy. As printed: 8,218,947. View filing ↗
- La-Z-Boy Incorporated, Section 10b CEO total. DEF 14A, filed 2026-07-15. CEO total compensation as printed in La-Z-Boy Incorporated's own proxy. As printed: 7,295,975. View filing ↗
- Interface, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-01. CEO total compensation as printed in Interface, Inc.'s own proxy. As printed: 5,651,488. View filing ↗
- Oxford Industries, Inc., Section 10b CEO total. DEF 14A, filed 2026-05-13. CEO total compensation as printed in Oxford Industries, Inc.'s own proxy. As printed: 5,529,136. View filing ↗
- American Woodmark Corp., Section 10b CEO total. DEF 14A, filed 2025-06-25. CEO total compensation as printed in American Woodmark Corp.'s own proxy. As printed: 4,886,047. View filing ↗
- Arhaus Inc., Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in Arhaus Inc.'s own proxy. As printed: 4,649,751. View filing ↗
- Ethan Allen Interiors Inc., Section 10b CEO total. DEF 14A, filed 2026-09-24. CEO total compensation as printed in Ethan Allen Interiors Inc.'s own proxy. As printed: 3,253,570. View filing ↗
- Haverty Furniture Companies (subject), Section 10b CEO total. DEF 14A, filed 2026-03-27. CEO total compensation as printed in Haverty Furniture Companies's own proxy. As printed: 2,635,789. View filing ↗
- Flexsteel Industries, Inc., Section 10b CEO total. DEF 14A, filed 2026-10-23. CEO total compensation as printed in Flexsteel Industries, Inc.'s own proxy. As printed: 2,469,412. View filing ↗
- Culp, Inc., Section 10b CEO total. DEF 14A, filed 2026-08-13. CEO total compensation as printed in Culp, Inc.'s own proxy. As printed: 1,129,772. View filing ↗
- Section 10a, Arhaus Inc. reciprocity. DEF 14A. Arhaus Inc. names Haverty Furniture Companies in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Ethan Allen Interiors Inc. reciprocity. DEF 14A. Ethan Allen Interiors Inc. names Haverty Furniture Companies in its own disclosed peer group (read from its most recent proxy). View filing ↗