Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-24

Lands' End (LE)

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.

$5,914,780
Andrew McLean total, FY2025
50th
CEO pay percentile vs peers
181:1
CEO-to-median pay ratio
99.36%
Say-on-pay support, latest vote
Companies that benchmark against LE
4 companies name LE as a compensation peer

Each company listed discloses LE 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 LE 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
Andrew McLean$1,100,000$550,000$2,841,491$0$1,416,250$0$7,039$5,914,780
Chief Executive Officer
Peter Gray695,250348,000718,3800537,08107,7462,306,457
President, Lands End Licensing, Chief Administrative Officer and General Counsel
Bernard McCracken525,000263,0001,042,4530405,56308,2312,244,247
Chief Financial Officer
Kym Maas515,385200,000542,4530398,13507,9191,663,892
President, Lands End Consumer and Chief Creative Officer
Martin Christopher525,0000542,4530405,56307,6831,480,699
Executive Vice President, Chief Technology 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 officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Andrew McLean$5,914,780$4,181,966+1,732,814
Peter Gray2,306,4571,765,365+541,092
Bernard McCracken2,244,2471,378,7351,017,494+865,512
Kym Maas1,663,892
Martin Christopher1,480,6991,347,273+133,426

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.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Peter GrayPSU2025-03-2413,64527,28954,578$305,910
Peter GrayRSU2025-03-2427,289305,910
Martin ChristopherPSU2025-03-243,40010,30310,30380,466
Martin ChristopherPSU2025-03-2410,30320,60641,212230,993
Bernard McCrackenRSU2025-03-2465,209730,993
Andrew McLeanPSU2025-03-2453,970107,939183,0921,209,996
Bernard McCrackenPSU2025-03-243,40010,30310,30380,466
Kym MaasPSU2025-03-2410,30320,60641,212230,993
Martin ChristopherRSU2025-03-2420,606230,993
Andrew McLeanRSU2025-03-24107,9391,209,996
Kym MaasRSU2025-03-2420,606230,993
Andrew McLeanPSU2025-03-2417,81053,969421,498
Bernard McCrackenPSU2025-03-2410,30320,60641,212230,993
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Peter Gray$305,910$305,910$050.0%
Martin Christopher230,993311,459057.4%
Bernard McCracken730,993311,459029.9%
Andrew McLean1,209,9961,631,494057.4%
Kym Maas230,993230,993050.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Martin ChristopherRSU20,606$365,963
Peter GrayRSU21,736386,031
Andrew McLeanRSU107,9391,916,997
Bernard McCrackenRSU15,318272,048
Andrew McLeanRSU66,8431,187,132
Kym MaasRSU11,273200,208
Peter GrayOption49,01722
Peter GrayRSU27,289484,653
Bernard McCrackenRSU65,2091,158,112
Peter GrayRSU19,695349,783
Kym MaasRSU20,606365,963
Bernard McCrackenRSU4,64382,460
Andrew McLeanRSU73,7701,310,155
Martin ChristopherRSU15,318272,048
Kym MaasRSU11,124197,562
05

Incentive-plan design — the Compensation Discussion & Analysis

The Compensation Committee believes that our long-term success is directly related to our ability to attract, motivate and retain highly talented executives who are committed to our mission, results and cultural beliefs. The Compensation Committee has developed a compensation philosophy for our senior executives designed to pay-for-performance.

CEO STI target (% of salary)125%
CEO LTI target (% of salary)
Independent consultantFrederic W. Cook & Co., Inc.
Clawback policytrue
Anti-hedging
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-0724,068,089155,24355,95099.36%Passed
20252025-05-2126,827,285654,19012,53997.62%Passed
20242024-05-0928,274,325292,0996,51198.98%Passed
20232023-06-1326,447,5762,668,32717,41090.84%Passed
20222022-05-1127,512,3862,603,21213,46191.36%Passed
20212021-05-1328,208,8071,926,7719,34693.61%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
20262026-05-0799.36%a
20252025-05-2197.62%b
20242024-05-0998.98%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 — “An abstention from voting on a matter by a stockholder present in person or represented by proxy at the meeting has no effect on the outcome of the vote on the frequency of stockholder votes on the compensation of our named executive officers.”.

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)181 : 1
CEO total compensation$5,914,780
Median employee compensation$32,694
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Josephine LindenIndependent · Board Chair · Compensation$160,000$0$0$0$287,000$447,000
Gordon HartogensisIndependent · Compensation · Newly elected19122,4810037,000159,500
Elizabeth LeykumIndependent · Audit · Compensation132,50000025,000157,500
John T. McClainIndependent · Audit (Chair)120,00000025,000145,000
Robert GalvinIndependent · Compensation (Chair) · Nominating and Corporate Governance61,27361,2270022,000144,500
Alicia ParkerIndependent · Audit · Nominating and Corporate Governance (Chair)80,65326,8470036,000143,500
Andrew J. McLeanEmployee director00000
09

Board fee structure and ownership guideline

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

Total cost of the board

ComponentFY2025
Cash retainers and fees$554,445
Equity awards (grant-date value)$210,555
All other compensation$432,000
Total cost of the board$1,197,000

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.

OXM Oxford Industries, Inc.GCO Genesco Inc.COLM Columbia Sportswear CompanyURBN Urban Outfitters, Inc.CATO The Cato Corp.GIII G-III Apparel Group, Ltd.CAL Caleres, Inc.CTRN Citi Trends, Inc.ZUMZ Zumiez, Inc.BKE The Buckle, Inc.CRI Carter's, Inc.AEO American Eagle Outfitters, Inc.TLYS Tilly's, Inc.DECK Deckers Outdoor CorporationDLTH Duluth Holdings, Inc.SCVL Shoe Carnival, Inc.PLCE The Children's Place Retail Stores, Inc.
10a

Peer reciprocity

Of the companies Lands' End 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.

Oxford Industries, Inc. (OXM)40 Genesco Inc. (GCO) Columbia Sportswear Company (COLM) Urban Outfitters, Inc. (URBN)41 The Cato Corp. (CATO) G-III Apparel Group, Ltd. (GIII) Caleres, Inc. (CAL) Citi Trends, Inc. (CTRN) Zumiez, Inc. (ZUMZ) The Buckle, Inc. (BKE) Carter's, Inc. (CRI)42 American Eagle Outfitters, Inc. (AEO) Tilly's, Inc. (TLYS) Deckers Outdoor Corporation (DECK)43 Duluth Holdings, Inc. (DLTH) Shoe Carnival, Inc. (SCVL) The Children's Place Retail Stores, Inc. (PLCE)

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 Lands' End.

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
1Deckers Outdoor Corporation2026Stefano Caroti$1,236,538$6,999,947$0$3,607,915$11,904,992
2Carter's, Inc.2025Douglas Palladini882,8034,955,42401,225,2007,496,679
3Urban Outfitters, Inc.2026Sheila B. Harrington1,136,7831,699,46703,442,7366,290,916
4Lands' End2025Andrew McLean1,100,0002,841,49101,416,2505,914,780
5Oxford Industries, Inc.2025Thomas Chubb III900,0003,942,2050388,4405,529,136
6Caleres, Inc.2025John Schmidt1,150,0002,500,016004,143,930
7Columbia Sportswear Company2025Timothy Boyle1,080,000001,938,7203,036,220
Genesco Inc.not in coverage universe
The Cato Corp.not in coverage universe
G-III Apparel Group, Ltd.not in coverage universe
Citi Trends, Inc.not in coverage universe
Zumiez, Inc.not in coverage universe
The Buckle, Inc.not in coverage universe
American Eagle Outfitters, Inc.not in coverage universe
Tilly's, Inc.not in coverage universe
Duluth Holdings, Inc.not in coverage universe
Shoe Carnival, Inc.not in coverage universe
The Children's Place Retail Stores, 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
Lands' End103%PSU 60 · RSU 40NoFrederic W. Cook & Co., Inc.
American Eagle Outfitters, Inc.not disclosednot disclosednot disclosednot disclosed
Caleres, Inc.not disclosedCash LTI 55 · RSU 45NoMeridian Compensation Partners LLC
Carter's, Inc.91%RSU 100NoMeridian Compensation Partners, LLC
Citi Trends, Inc.not disclosednot disclosednot disclosednot disclosed
Columbia Sportswear Company57%not disclosedYes — three year relative total shareholder return (Relative TSR)FW Cook
Deckers Outdoor Corporation173%PSU 60 · RSU 40Yes — Total Stockholder Return (TSR)Frederic W. Cook & Co., Inc.
Duluth Holdings, Inc.not disclosednot disclosednot disclosednot disclosed
G-III Apparel Group, Ltd.not disclosednot disclosednot disclosednot disclosed
Genesco Inc.not disclosednot disclosednot disclosednot disclosed
Oxford Industries, Inc.43%not disclosedYes — Total Shareholder Return (TSR) relative to comparator groupMeridian Compensation Partners, LLC
Shoe Carnival, Inc.not disclosednot disclosednot disclosednot disclosed
The Buckle, Inc.not disclosednot disclosednot disclosednot disclosed
The Cato Corp.not disclosednot disclosednot disclosednot disclosed
The Children's Place Retail Stores, Inc.not disclosednot disclosednot disclosednot disclosed
Tilly's, Inc.not disclosednot disclosednot disclosednot disclosed
Urban Outfitters, Inc.100%PSU 50 · RSU 50NoKorn Ferry Hay Group
Zumiez, Inc.not 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, Andrew McLeanDEF 14A2026-03-270001104659-26-036100Section “Summary Compensation Table”. As printed: 5,914,780. Filing ↗machine: t19 · r1 · c47 · span 511069–511078
2Section 01, Peter GrayDEF 14A2026-03-270001104659-26-036100Section “Summary Compensation Table”. As printed: 2,306,457. Filing ↗machine: t19 · r7 · c47 · span 539591–539600
3Section 01, Bernard McCrackenDEF 14A2026-03-270001104659-26-036100Section “Summary Compensation Table”. As printed: 2,244,247. Filing ↗machine: t19 · r4 · c47 · span 525250–525259
4Section 01, Kym MaasDEF 14A2026-03-270001104659-26-036100Section “Summary Compensation Table”. As printed: 1,663,892. Filing ↗machine: t19 · r12 · c47 · span 563235–563244
5Section 01, Martin ChristopherDEF 14A2026-03-270001104659-26-036100Section “Summary Compensation Table”. As printed: 1,480,699. Filing ↗machine: t19 · r10 · c47 · span 553791–553800
6Section 03, Peter Gray PSUDEF 14A2026-03-270001104659-26-036100Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t10 · r3 · c11 · span 377035–377042
7Section 03, Peter Gray RSUDEF 14A2026-03-270001104659-26-036100Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t10 · r3 · c11 · span 377035–377042
8Section 03, Martin Christopher PSUDEF 14A2026-03-270001104659-26-036100Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t12 · r4 · c11 · span 402928–402934
9Section 03, Martin Christopher PSUDEF 14A2026-03-270001104659-26-036100Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t10 · r4 · c11 · span 378614–378621
10Section 03, Bernard McCracken RSUDEF 14A2026-03-270001104659-26-036100Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t20 · r10 · c60 · span 636115–636122
11Section 03, Andrew McLean PSUDEF 14A2026-03-270001104659-26-036100Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t10 · r1 · c11 · span 373856–373865
12Section 03, Bernard McCracken PSUDEF 14A2026-03-270001104659-26-036100Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t12 · r2 · c11 · span 399743–399749
13Section 03, Kym Maas PSUDEF 14A2026-03-270001104659-26-036100Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t10 · r5 · c11 · span 380208–380215
14Section 03, Martin Christopher RSUDEF 14A2026-03-270001104659-26-036100Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t10 · r4 · c11 · span 378614–378621
15Section 03, Andrew McLean RSUDEF 14A2026-03-270001104659-26-036100Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t10 · r1 · c11 · span 373856–373865
16Section 03, Kym Maas RSUDEF 14A2026-03-270001104659-26-036100Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t10 · r5 · c11 · span 380208–380215
17Section 03, Andrew McLean PSUDEF 14A2026-03-270001104659-26-036100Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t12 · r1 · c11 · span 398161–398168
18Section 03, Bernard McCracken PSUDEF 14A2026-03-270001104659-26-036100Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t10 · r2 · c11 · span 375436–375443
19Section 07, pay ratioDEF 14A2026-03-270001104659-26-036100Section “CEO Pay Ratio”. As printed: 181 : 1. Filing ↗machine: span 1239111–1239114
20Section 08, Josephine LindenDEF 14A2026-03-270001104659-26-036100Section “Director Compensation”. As printed: 447,000. Filing ↗machine: t3 · r1 · c29 · span 216932–216939
21Section 08, Gordon HartogensisDEF 14A2026-03-270001104659-26-036100Section “Director Compensation”. As printed: 159,500. Filing ↗machine: t3 · r3 · c29 · span 223127–223134
22Section 08, Elizabeth LeykumDEF 14A2026-03-270001104659-26-036100Section “Director Compensation”. As printed: 157,500. Filing ↗machine: t3 · r4 · c29 · span 226210–226217
23Section 08, John T. McClainDEF 14A2026-03-270001104659-26-036100Section “Director Compensation”. As printed: 145,000. Filing ↗machine: t3 · r5 · c29 · span 229317–229324
24Section 08, Robert GalvinDEF 14A2026-03-270001104659-26-036100Section “Director Compensation”. As printed: 144,500. Filing ↗machine: t3 · r2 · c29 · span 220016–220023
25Section 08, Alicia ParkerDEF 14A2026-03-270001104659-26-036100Section “Director Compensation”. As printed: 143,500. Filing ↗machine: t3 · r6 · c29 · span 232401–232408
26Section 08, Andrew J. McLeanDEF 14A2026-03-270001104659-26-036100Section “Director Compensation”. As printed: 0. Filing ↗
27Section 06, 2026 voteForm 8-K2026-05-070001193125-26-212234Item 5.07 · say-on-pay result. As reported: 99.36% (votes for as printed: 24,068,089). Filing ↗
28Section 06, 2025 voteForm 8-K2025-05-210000950170-25-075844Item 5.07 · say-on-pay result. As reported: 97.62% (votes for as printed: 26,827,285). Filing ↗
29Section 06, 2024 voteForm 8-K2024-05-090000950170-24-056915Item 5.07 · say-on-pay result. As reported: 98.98% (votes for as printed: 28,274,325). Filing ↗
30Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
31Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
32Section 09b board cost (computed)ComputedcomputedCash 554,445 + equity 210,555 + all other 432,000 = 1,197,000, summed across the director compensation table rows.machine: formula: Σ = 1,197,000
33Deckers Outdoor Corporation, Section 10b CEO totalDEF 14A2026-07-240000910521-26-000018CEO total compensation as printed in Deckers Outdoor Corporation's own proxy. As printed: 11,904,992. Filing ↗machine: r3 · c21 · span 866385–866395
34Carter's, Inc., Section 10b CEO totalDEF 14A2026-04-010001060822-26-000059CEO total compensation as printed in Carter's, Inc.'s own proxy. As printed: 7,496,679. Filing ↗machine: r2 · c7 · span 1027158–1027168
35Urban Outfitters, Inc., Section 10b CEO totalDEF 14A2026-04-010001193125-26-137990CEO total compensation as printed in Urban Outfitters, Inc.'s own proxy. As printed: 6,290,916. Filing ↗machine: span 307336–307345
36Lands' End (subject), Section 10b CEO totalDEF 14A2026-03-270001104659-26-036100CEO total compensation as printed in Lands' End's own proxy. As printed: 5,914,780. Filing ↗machine: t19 · r1 · c47 · span 511069–511078
37Oxford Industries, Inc., Section 10b CEO totalDEF 14A2026-05-130000075288-26-000032CEO total compensation as printed in Oxford Industries, Inc.'s own proxy. As printed: 5,529,136. Filing ↗machine: t36 · r3 · c12 · span 668880–668889
38Caleres, Inc., Section 10b CEO totalDEF 14A2026-04-160001193125-26-158809CEO total compensation as printed in Caleres, Inc.'s own proxy. As printed: 4,143,930. Filing ↗machine: r2 · c43 · span 1055224–1055233
39Columbia Sportswear Company, Section 10b CEO totalDEF 14A2026-04-240001050797-26-000062CEO total compensation as printed in Columbia Sportswear Company's own proxy. As printed: 3,036,220. Filing ↗machine: t61 · r3 · c27 · span 566267–566276
40Section 10a, Oxford Industries, Inc. reciprocityDEF 14A0000075288-26-000032Oxford Industries, Inc. names Lands' End in its own disclosed peer group (read from its most recent proxy). Filing ↗
41Section 10a, Urban Outfitters, Inc. reciprocityDEF 14A0001193125-25-070459Urban Outfitters, Inc.'s most recent proxy was read; its disclosed peer group does not include Lands' End. Filing ↗
42Section 10a, Carter's, Inc. reciprocityDEF 14A0001060822-26-000059Carter's, Inc.'s most recent proxy was read; its disclosed peer group does not include Lands' End. Filing ↗
43Section 10a, Deckers Outdoor Corporation reciprocityDEF 14A0000910521-26-000018Deckers Outdoor Corporation's most recent proxy was read; its disclosed peer group does not include Lands' End. Filing ↗