Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-09-04

Koppers Holdings (KOP)

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.

$6,358,244
Leroy Ball total, FY2025
CEO pay percentile vs peers
CEO-to-median pay ratio
98.56%
Say-on-pay support, latest vote
Companies that benchmark against KOP
13 companies name KOP as a compensation peer

Each company listed discloses KOP 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 KOP 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
Leroy Ball$975,000$0$5,145,824$0$0$844$236,576$6,358,244
Chief Executive Officer and Chair of the Board of Directors
James Sullivan650,00002,016,5760115,267270128,0952,910,208
President and Chief Transformation Officer
Stephanie Apostolou475,0000956,843063,1755877,8701,572,946
Chief Legal and Sustainability Officer and Secretary
Jimmi Sue Smith440,0000819,799058,5204883,5431,401,910
Chief Financial Officer and Treasurer (Now Retired)
Stephen Lucas360,3600599,007031,9521449,6891,041,022
Senior Vice President, Culture and Engagement

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
Leroy Ball$6,358,244$5,879,522$5,960,553+478,722
James Sullivan2,910,2082,808,7272,725,004+101,481
Stephanie Apostolou1,572,9461,249,4281,199,525+323,518
Jimmi Sue Smith1,401,9101,260,3681,250,119+141,542
Stephen Lucas1,041,0221,097,470−56,448

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
Leroy BallRSU181,490$4,914,749
Leroy BallPSU82,0982,223,214
James SullivanRSU75,4512,043,213
Stephanie ApostolouRSU33,145897,567
Jimmi Sue SmithRSU31,339848,660
James SullivanPSU24,575665,491
Stephen LucasRSU23,053624,275
Stephanie ApostolouPSU9,586259,589
Jimmi Sue SmithPSU8,701235,623
Stephen LucasPSU5,774156,360
Leroy BallOption60,72818.11
Leroy BallOption33,51944.1
Leroy BallOption41,12341.6
Leroy BallOption61,17826.63
Leroy BallOption92,18019.63
Leroy BallOption49,27229.84
Leroy BallOption13,29532.19
Jimmi Sue SmithOption1,66632.19
James SullivanOption4,75029.84
James SullivanOption3,66232.19
Stephanie ApostolouOption1,46732.19
05

Incentive-plan design — the Compensation Discussion & Analysis

The committee implements a strong pay-for-performance compensation program designed to attract and retain executives, aligning their interests with shareholders by linking a significant portion of pay to performance and striving to pay competitively relative to the market median.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantMeridian Compensation Partners, LLC
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-0716,543,516241,12073,95298.56%Passed
20252025-05-0817,013,701284,44338,71698.36%Passed
20242024-05-0218,488,847314,34330,22098.17%Passed
20232023-05-0417,672,131368,61124,65997.96%Passed
20222022-05-0518,265,190231,43929,49798.75%Passed
20212021-05-0618,382,620404,58020,69697.74%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
20262026-05-0798.56%a
20252025-05-0898.36%b
20242024-05-0298.17%c

a. Approved under the standard stated in the filing — “Abstentions and broker non-votes will not count as votes cast with respect to this proposal and will have no effect on the outcome of the vote on this proposal.”.

b. Approved under the standard stated in the filing — “Abstentions and broker non-votes will not count as votes cast with respect to this proposal and will have no effect on the outcome of the vote on this proposal.”.

c. Approved under the standard stated in the filing — “With respect to Proposal 2, abstentions and broker non-votes are not votes cast but will have the effect of 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.

08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Leroy M. BallEmployee director · Board Chair · Sustainability$0
Laura J. PosadasIndependent
Albert J. NeupaverIndependent · Lead Independent Director · Audit · Management Development and Compensation · Strategy and Risk (Chair) · Not standing for re-election · Departed during FY
Andrew D. SandiferIndependent · Audit (Chair) · Management Development and Compensation · Nominating and Corporate Governance
Nishan J. VartanianIndependent · Audit · Strategy and Risk · Sustainability
Sonja M. WilkersonIndependent · Management Development and Compensation (Chair) · Nominating and Corporate Governance · Sustainability
09

Board fee structure and ownership guideline

Annual cash retainer$85,000
Annual equity retainer$125,000
Per board meeting fee$1,000
Committee chair fees (audit / comp / nom-gov)20,000 / 17,500 / 15,000
Stock ownership guideline$5
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$0
Equity awards (grant-date value)$0
All other compensation$0
Total cost of the board$0

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 Koppers Holdings 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 Koppers Holdings.

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
1Granite Construction Incorporated2025Kyle Larkin$1,000,000$7,178,777$0$1,612,935$9,861,425
2Cabot Corporation2025Sean Keohane1,100,0004,224,8472,274,9251,402,5019,307,883
3H.B. Fuller Company2025Celeste Mastin1,082,6922,971,9763,025,5381,339,8918,830,569
4Armstrong World Industries, Inc.2025Victor Grizzle1,000,0005,599,53201,584,0008,537,000
5Sterling Infrastructure, Inc.2025Joseph Cutillo1,100,0004,675,00002,530,0008,414,685
6Tronox Holdings plc2025John Romano1,100,0005,658,66101,052,4808,254,510
7Innospec, Inc.2025Patrick Williams1,380,5485,285,62301,365,3368,252,747
8Simpson Manufacturing Co., Inc.2025Michael Olosky950,0005,383,38401,389,7137,768,355
9The Greenbrier Companies, Inc.2025Lorie Tekorius1,016,6674,535,53701,949,0727,706,230
10EnPro Industries, Inc.2025Eric Vaillancourt934,6163,678,2311,390,7161,341,9497,457,747
11Minerals Technologies, Inc.2025Douglas Dietrich1,050,0002,310,022768,8032,891,1607,405,693
12Standex International Corporation2026David Dunbar936,4364,135,8190560,4576,407,973
13Koppers Holdings2025Leroy Ball975,0005,145,824006,358,244
14Apogee Enterprises, Inc.2026Ty Silberhorn627,3082,283,41901,208,5006,075,286
15Hillenbrand, Inc.2022Kimberly Ryan786,3562,999,94601,044,8445,000,837
16American Woodmark Corporation2025M. Scott Culbreth957,5773,208,4460696,3504,886,047
17Gibraltar Industries, Inc.2025William Bosway908,2693,202,4400274,5004,731,001
18Stepan Company2025Luis Rojo940,0002,279,746800,003230,3004,327,042
19Quaker Chemical Corporation2025Joseph Berquist800,0002,420,3190461,8403,709,451
Stella-Jones, 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
Koppers Holdingsnot disclosednot disclosednot disclosedMeridian Compensation Partners, LLC
American Woodmark Corporation60.75%RSU 50 · PSU 50NoMeridian Compensation Partners
Apogee Enterprises, Inc.not disclosedRSU 50 · PSU 50NoMeridian Compensation Partners, LLC (current); Willis Towers Watson (through September 2025)
Armstrong World Industries, Inc.not disclosedRSU 50 · PRSU 50not disclosedAon
Cabot Corporation90%PSU 35 · Options 35 · RSU 30NoMeridian Compensation Partners
EnPro Industries, Inc.130.5%RSU 40 · PSU 30 · Options 30Yes — rTSRPearl Meyer & Partners, LLC
Gibraltar Industries, Inc.25%PSU 64 · RSU 36NoWTW
Granite Construction Incorporated134%PSU 75 · RSU 25Yes — Relative TSRFW Cook
H.B. Fuller Companynot disclosednot disclosednot disclosednot disclosed
Hillenbrand, Inc.not disclosedPerformance-Based RSUs 66.67 · Time-Based RSUs 33.33not disclosedPay Governance
Innospec, Inc.not disclosedPSU 70 · RSU 30not disclosedExequity
Minerals Technologies, Inc.not disclosednot disclosednot disclosednot disclosed
Quaker Chemical Corporationnot disclosedPSU 60 · RSU 40not disclosedMeridian Compensation Partners
Simpson Manufacturing Co., Inc.not disclosednot disclosednot disclosednot disclosed
Standex International Corporationnot disclosedRSU 50 · PSU 50not disclosedMeridian Compensation Partners, LLC
Stella-Jones, Inc.not disclosednot disclosednot disclosednot disclosed
Stepan Companynot disclosedRSU 50 · SAR 25 · PSU 25not disclosedExequity LLP
Sterling Infrastructure, Inc.200%PSU 60 · RSU 40Yes — Relative Total Shareholder Return (TSR)Meridian Compensation Partners
The Greenbrier Companies, Inc.not disclosedPSU 60 · RSU 40not disclosedMercer
Tronox Holdings plcnot disclosedRSU 50 · PRSU 50not disclosedFrederic W. Cook & Co. (FW Cook) and FIT Remuneration Consultants, LLP

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, Leroy BallDEF 14A2026-03-270001315257-26-000026Section “Summary Compensation Table”. As printed: 6,358,244. Filing ↗
2Section 01, James SullivanDEF 14A2026-03-270001315257-26-000026Section “Summary Compensation Table”. As printed: 2,910,208. Filing ↗
3Section 01, Stephanie ApostolouDEF 14A2026-03-270001315257-26-000026Section “Summary Compensation Table”. As printed: 1,572,946. Filing ↗
4Section 01, Jimmi Sue SmithDEF 14A2026-03-270001315257-26-000026Section “Summary Compensation Table”. As printed: 1,401,910. Filing ↗
5Section 01, Stephen LucasDEF 14A2026-03-270001315257-26-000026Section “Summary Compensation Table”. As printed: 1,041,022. Filing ↗
6Section 08, Leroy M. BallDEF 14A2026-03-270001315257-26-000026Section “Director Compensation”. As printed: 0. Filing ↗
7Section 08, Laura J. PosadasDEF 14A2026-03-270001315257-26-000026Section “Director Compensation”. As printed: —. Filing ↗
8Section 08, Albert J. NeupaverDEF 14A2026-03-270001315257-26-000026Section “Director Compensation”. As printed: —. Filing ↗
9Section 08, Andrew D. SandiferDEF 14A2026-03-270001315257-26-000026Section “Director Compensation”. As printed: —. Filing ↗
10Section 08, Nishan J. VartanianDEF 14A2026-03-270001315257-26-000026Section “Director Compensation”. As printed: —. Filing ↗
11Section 08, Sonja M. WilkersonDEF 14A2026-03-270001315257-26-000026Section “Director Compensation”. As printed: —. Filing ↗
12Section 06, 2026 voteForm 8-K2026-05-080001315257-26-000036Item 5.07 · say-on-pay result. As reported: 98.56% (votes for as printed: 16,543,516). Filing ↗
13Section 06, 2025 voteForm 8-K2025-05-090000950170-25-067521Item 5.07 · say-on-pay result. As reported: 98.36% (votes for as printed: 17,013,701). Filing ↗
14Section 06, 2024 voteForm 8-K2024-05-030000950170-24-052494Item 5.07 · say-on-pay result. As reported: 98.17% (votes for as printed: 18,488,847). Filing ↗
15Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
16Section 09b board cost (computed)ComputedcomputedCash 0 + equity 0 + all other 0 = 0, summed across the director compensation table rows.machine: formula: Σ = 0
17Granite Construction Incorporated, Section 10b CEO totalDEF 14A2026-04-230000861459-26-000012CEO total compensation as printed in Granite Construction Incorporated's own proxy. As printed: 9,861,425. Filing ↗machine: t43 · r4 · c18 · span 618853–618862
18Cabot 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
19H.B. Fuller Company, Section 10b CEO totalDEF 14A2026-03-040001437749-26-006811CEO total compensation as printed in H.B. Fuller Company's own proxy. As printed: 8,830,569. Filing ↗machine: r2 · c18 · span 903228–903237
20Armstrong World Industries, Inc., Section 10b CEO totalDEF 14A2026-04-300001193125-26-193741CEO total compensation as printed in Armstrong World Industries, Inc.'s own proxy. As printed: 8,537,000. Filing ↗machine: r2 · c31 · span 849008–849017
21Sterling Infrastructure, Inc., Section 10b CEO totalDEF 14A2026-03-250000874238-26-000042CEO total compensation as printed in Sterling Infrastructure, Inc.'s own proxy. As printed: 8,414,685. Filing ↗machine: span 669281–669290
22Tronox Holdings plc, Section 10b CEO totalDEF 14A2026-03-190001140361-26-010422CEO total compensation as printed in Tronox Holdings plc's own proxy. As printed: 8,254,510. Filing ↗machine: r2 · c27 · span 1071280–1071289
23Innospec, Inc., Section 10b CEO totalDEF 14A2026-03-260001174947-26-000427CEO total compensation as printed in Innospec, Inc.'s own proxy. As printed: 8,252,747. Filing ↗machine: r4 · c9 · span 1939600–1939609
24Simpson Manufacturing Co., Inc., Section 10b CEO totalDEF 14A2026-03-240001628280-26-020810CEO total compensation as printed in Simpson Manufacturing Co., Inc.'s own proxy. As printed: 7,768,355. Filing ↗machine: r2 · c21 · span 924542–924551
25The Greenbrier Companies, Inc., Section 10b CEO totalDEF 14A2025-11-170001193125-25-284604CEO total compensation as printed in The Greenbrier Companies, Inc.'s own proxy. As printed: 7,706,230. Filing ↗machine: r4 · c34 · span 887577–887586
26EnPro Industries, Inc., Section 10b CEO totalDEF 14A2026-03-230002071876-26-000038CEO total compensation as printed in EnPro Industries, Inc.'s own proxy. As printed: 7,457,747. Filing ↗machine: t281 · r1 · c9 · span 898791–898800
27Minerals Technologies, Inc., Section 10b CEO totalDEF 14A2026-04-020001104659-26-039205CEO total compensation as printed in Minerals Technologies, Inc.'s own proxy. As printed: 7,405,693. Filing ↗machine: r2 · c48 · span 1633829–1633838
28Standex 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
29Koppers Holdings (subject), Section 10b CEO totalDEF 14A2026-03-270001315257-26-000026CEO total compensation as printed in Koppers Holdings's own proxy. As printed: 6,358,244. Filing ↗
30Apogee Enterprises, Inc., Section 10b CEO totalDEF 14A2026-05-120000006845-26-000036CEO total compensation as printed in Apogee Enterprises, Inc.'s own proxy. As printed: 6,075,286. Filing ↗machine: r18 · c51 · span 853782–853791
31Hillenbrand, Inc., Section 10b CEO totalDEF 14A2023-01-120001140361-23-001483CEO total compensation as printed in Hillenbrand, Inc.'s own proxy. As printed: 5,000,837. Filing ↗machine: span 718223–718232
32American Woodmark Corporation, Section 10b CEO totalDEF 14A2025-06-250000794619-25-000063CEO total compensation as printed in American Woodmark Corporation's own proxy. As printed: 4,886,047. Filing ↗machine: span 397216–397225
33Gibraltar Industries, Inc., Section 10b CEO totalDEF 14A2026-04-060000912562-26-000083CEO total compensation as printed in Gibraltar Industries, Inc.'s own proxy. As printed: 4,731,001. Filing ↗machine: t256 · r4 · c11 · span 854722–854731
34Stepan Company, Section 10b CEO totalDEF 14A2026-03-250001193125-26-122725CEO total compensation as printed in Stepan Company's own proxy. As printed: 4,327,042. Filing ↗machine: span 378020–378029
35Quaker 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
36Section 10a, Gibraltar Industries, Inc. reciprocityDEF 14A0000912562-26-000083Gibraltar Industries, Inc.'s most recent proxy was read; its disclosed peer group does not include Koppers Holdings. Filing ↗
37Section 10a, Simpson Manufacturing Co., Inc. reciprocityDEF 14A0001628280-26-020810Simpson Manufacturing Co., Inc.'s most recent proxy was read; its disclosed peer group does not include Koppers Holdings. Filing ↗
38Section 10a, Granite Construction Incorporated reciprocityDEF 14A0000861459-26-000012Granite Construction Incorporated's most recent proxy was read; its disclosed peer group does not include Koppers Holdings. Filing ↗
39Section 10a, Standex International Corporation reciprocityDEF 14A0001437749-26-029660Standex International Corporation's most recent proxy was read; its disclosed peer group does not include Koppers Holdings. Filing ↗
40Section 10a, Tronox Holdings plc reciprocityDEF 14A0001140361-26-010422Tronox Holdings plc names Koppers Holdings in its own disclosed peer group (read from its most recent proxy). Filing ↗
41Section 10a, Innospec, Inc. reciprocityDEF 14A0001174947-26-000427Innospec, Inc. names Koppers Holdings in its own disclosed peer group (read from its most recent proxy). Filing ↗
42Section 10a, Cabot Corporation reciprocityDEF 14A0001193125-26-023681Cabot Corporation's most recent proxy was read; its disclosed peer group does not include Koppers Holdings. Filing ↗
43Section 10a, H.B. Fuller Company reciprocityDEF 14A0001437749-26-006811H.B. Fuller Company's most recent proxy was read; its disclosed peer group does not include Koppers Holdings. Filing ↗
44Section 10a, Sterling Infrastructure, Inc. reciprocityDEF 14A0000874238-26-000042Sterling Infrastructure, Inc.'s most recent proxy was read; its disclosed peer group does not include Koppers Holdings. Filing ↗
45Section 10a, Armstrong World Industries, Inc. reciprocityDEF 14A0001193125-26-193741Armstrong World Industries, Inc.'s most recent proxy was read; its disclosed peer group does not include Koppers Holdings. Filing ↗
46Section 10a, The Greenbrier Companies, Inc. reciprocityDEF 14A0001193125-25-284604The Greenbrier Companies, Inc.'s most recent proxy was read; its disclosed peer group does not include Koppers Holdings. Filing ↗
47Section 10a, Quaker Chemical Corporation reciprocityDEF 14A0001628280-26-022236Quaker Chemical Corporation names Koppers Holdings in its own disclosed peer group (read from its most recent proxy). Filing ↗
48Section 10a, Apogee Enterprises, Inc. reciprocityDEF 14A0000006845-26-000036Apogee Enterprises, Inc.'s most recent proxy was read; its disclosed peer group does not include Koppers Holdings. Filing ↗
49Section 10a, Stepan Company reciprocityDEF 14A0001193125-26-122725Stepan Company names Koppers Holdings in its own disclosed peer group (read from its most recent proxy). Filing ↗
50Section 10a, American Woodmark Corporation reciprocityDEF 14A0000794619-25-000063American Woodmark Corporation's most recent proxy was read; its disclosed peer group does not include Koppers Holdings. Filing ↗
51Section 10a, Hillenbrand, Inc. reciprocityDEF 14A0001140361-23-001483Hillenbrand, Inc.'s most recent proxy was read; its disclosed peer group does not include Koppers Holdings. Filing ↗
52Section 10a, EnPro Industries, Inc. reciprocityDEF 14A0002071876-26-000038EnPro Industries, Inc.'s most recent proxy was read; its disclosed peer group does not include Koppers Holdings. Filing ↗