Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-08-28

Leggett & Platt (LEG)

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.

$10,893,870
Karl Glassman total, FY2025
69th
CEO pay percentile vs peers
194:1
CEO-to-median pay ratio
94.2%
Say-on-pay support, latest vote
Companies that benchmark against LEG
9 companies name LEG as a compensation peer

Each company listed discloses LEG 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 LEG 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
Karl Glassman$1,275,000$0$6,692,318$0$2,284,099$14,412$628,041$10,893,870
President and Chief Executive Officer
Benjamin Burns588,46201,105,0310636,9601,125199,8722,531,450
Executive VP and Chief Financial Officer
J. Tyson Hagale595,38501,105,0310648,9601,228180,7942,531,398
Executive VP, President--Bedding Products
R. Samuel Smith Jr.519,2310966,8940547,2601,686179,6272,214,698
Executive VP, President--Specialized Products and FF&T Products
Jennifer Davis485,3850767,0770455,161669136,9281,845,220
Executive VP and General Counsel

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
Karl Glassman$10,893,870$9,872,920$1,241,616+1,020,950
Benjamin Burns2,531,4501,784,1761,085,580+747,274
J. Tyson Hagale2,531,3981,822,0871,720,928+709,311
R. Samuel Smith Jr.2,214,6981,457,273+757,425
Jennifer Davis1,845,2201,374,828+470,392

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
Karl Glassman2023-01-01$522,307
03b

Vehicle mix — grant-date fair value by award type

Grant-level vehicle detail not disclosed.

% 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
J. Tyson HagaleRSU69,192$761,112
R. Samuel Smith Jr.PSU65,096716,056
Jennifer DavisRSU34,429378,719
Benjamin BurnsPSU16,268178,948
R. Samuel Smith Jr.PSU8,87397,603
Karl GlassmanRSU176,4171,940,587
J. Tyson HagalePSU17,155188,705
J. Tyson HagaleRSU15,003136,652
Benjamin BurnsPSU74,396818,356
J. Tyson HagalePSU74,396818,356
R. Samuel Smith Jr.RSU7,88886,768
Karl GlassmanPSU166,2161,828,376
Karl GlassmanRSU147,7481,625,228
R. Samuel Smith Jr.PSU73,969813,659
J. Tyson HagaleRSU49,597545,567
Benjamin BurnsRSU8,96683,221
Karl GlassmanRSU6,11167,221
Jennifer DavisRSU6,57260,909
J. Tyson HagalePSU91,5511,007,061
Karl GlassmanPSU450,5584,956,138
Benjamin BurnsPSU90,664997,304
Benjamin BurnsRSU65,144716,584
R. Samuel Smith Jr.RSU5,04846,826
Jennifer DavisPSU63,459698,049
R. Samuel Smith Jr.RSU51,934571,274
Jennifer DavisRSU45,804503,844
Benjamin BurnsRSU49,597545,567
R. Samuel Smith Jr.RSU43,397477,367
Karl GlassmanOption55,05136.33
Karl GlassmanOption80,44941.02
Karl GlassmanOption40,91748.88
Karl GlassmanRSU108,261992,154
Jennifer DavisRSU10,504115,544
Karl GlassmanRSU300,3723,304,092
Jennifer DavisPSU51,643568,073
J. Tyson HagaleRSU15,249167,739
Benjamin BurnsRSU14,460159,060
Jennifer DavisPSU11,816129,976
J. Tyson HagaleRSU4,34647,806
Benjamin BurnsRSU1,08711,957
Jennifer DavisRSU8719,581
R. Samuel Smith Jr.RSU6497,139
05

Incentive-plan design — the Compensation Discussion & Analysis

Our HRC Committee, consisting solely of independent directors, is committed to creating and overseeing an executive compensation program that enables Leggett & Platt to attract and retain a superior management team that receives targeted incentives to build long-term value for our shareholders.

CEO STI target (% of salary)135%
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
20262026-05-2194,779,8105,660,419173,84094.2%Passed
20252025-05-0788,934,4984,680,999208,93194.79%Passed
20242024-05-0886,034,7515,325,496323,32293.84%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
20262026-05-2194.2%a
20252025-05-0794.79%b
20242024-05-0893.84%c

a. Approved under the standard stated in the filing — “For proposals requiring a majority of the shares present and entitled to vote in order to pass, an abstention will have the effect of a vote against the proposal.”.

b. Approved under the standard stated in the filing — “For proposals requiring a majority vote in order to pass, an abstention will have the effect of a vote against the proposal.”.

c. Approved under the standard stated in the filing — “For proposals requiring a majority vote in order to pass, an abstention will have the effect of a vote against the 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)194 : 1
CEO total compensation$10,909,229
Median employee compensation$56,199
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Robert E. BrunnerIndependent · Lead Independent Director · HRC · NGS$115,000$190,000$0$15,250$324,063
Joseph W. McClanathanIndependent · HRC · NGS (Chair)123,000160,000038,868323,898
Jai ShahIndependent · Audit · HRC (Chair)130,000160,000016,153310,468
Phoebe A. WoodIndependent · Audit (Chair) · NGS132,000160,00005,574298,968
Mary CampbellIndependent · Audit · HRC117,500160,00007,439286,602
Angela BarbeeIndependent · Audit · HRC118,000160,00002,728281,410
Srikanth PadmanabhanIndependent · Audit · NGS117,000160,00003,289280,914
Manuel A. FernandezIndependent · Departed during FY57,5000018,74577,337
Mark A. BlinnIndependent · Departed during FY59,00000059,789
Karl G. GlassmanEmployee director · Board Chair00000
09

Board fee structure and ownership guideline

Annual cash retainer$100,000
Annual equity retainer$160,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)
Stock ownership guideline5x annual cash retainer within 5 years
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$969,000
Equity awards (grant-date value)$1,150,000
All other compensation$108,046
Total cost of the board$2,227,046

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 Leggett & Platt 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 Leggett & Platt.

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
1Dover Corporation2025Richard Tobin$1,387,385$8,040,726$6,562,519$0$18,757,706
2The Timken Company2025Lucian Boldea366,66712,004,07101,124,14515,045,651
3Pentair plc2025John Stauch1,160,0455,100,0191,699,9861,721,03411,374,255
4Carlisle Companies Incorporated2025D. Christian Koch1,493,0006,376,9292,612,603011,359,438
5Leggett & Platt2025Karl Glassman1,275,0006,692,31802,284,09910,893,870
6Fortune Brands Innovations, Inc.2025Nicholas Fink1,275,0006,375,0022,124,998249,90010,476,545
7Steelcase Inc.2025Sara Armbruster1,031,2506,254,26602,434,37310,173,889
8Snap-on Incorporated2025Nicholas Pinchuk1,142,4736,013,2211,550,010462,70210,138,217
9Allegion plc2025John Stone1,066,1154,562,2261,450,0321,940,9269,155,073
10Lennox International Inc.2025Alok Maskara1,176,2504,500,4961,149,8801,329,6048,434,155
11HNI Corporation2025Jeffrey Lorenger1,056,7405,092,31601,787,4048,218,947
12Masco Corporation2025Jonathon Nudi528,8504,034,8871,120,019273,6006,641,952
13MillerKnoll, Inc.2026Andi Owen1,121,5384,174,0910709,5136,139,932
14A. O. Smith Corporation2025Stephen Shafer965,7502,678,04401,068,0004,960,450
Griffon Corporationnot in coverage universe
Somnigroup International 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
Leggett & Platt132.7%PSU 60 · RSU 40Yes — relative total shareholder return (TSR)Meridian Compensation Partners, LLC
A. O. Smith Corporation98.3%RSU 50 · Cash LTI 35 · PSU 15NoWillis Towers Watson (WTW)
Allegion plc131.31%PSU 50 · Options 25 · RSU 25Yes — Relative TSRFW Cook
Carlisle Companies Incorporatednot disclosedPSU 33 · RSU 33 · Options 33NoWillis Towers Watson
Dover Corporation121.7%PSU 40 · Options 40 · RSU 20Yes — 3-Year relative TSRMeridian Compensation Partners, LLC
Fortune Brands Innovations, Inc.14.0%PSU 50 · RSU 25 · Options 25NoWillis Towers Watson (WTW)
Griffon Corporationnot disclosednot disclosednot disclosednot disclosed
HNI Corporation140%PSU 50 · RSU 50NoExequity LLP
Lennox International Inc.90%PSU 50 · RSU 30 · Options 20NoMeridian Compensation Partners
Masco Corporationnot disclosednot disclosedYes — rTSRSemler Brossy
MillerKnoll, Inc.not disclosedPSU 60 · RSU 40not disclosedPay Governance LLC
Pentair plc109.9%PSU 75 · Options 25NoAon Consulting
Snap-on Incorporatednot disclosedPSU 60 · Option 20 · RSU 20not disclosedSemler Brossy Consulting Group, LLC
Somnigroup International Inc.not disclosednot disclosednot disclosednot disclosed
Steelcase Inc.192%PSU 60 · RSU 40Yes — rTSRCompensation Advisory Partners (CAP)
The Timken Company81.8%PSU 60 · RSU 40Yes — Relative TSRWillis Towers Watson

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, Karl GlassmanDEF 14A2026-04-070001193125-26-144643Section “Summary Compensation Table” · page 45. As printed: 10,893,870. Filing ↗machine: t40 · r4 · c10 · span 1662833–1662843
2Section 01, Benjamin BurnsDEF 14A2026-04-070001193125-26-144643Section “Summary Compensation Table” · page 45. As printed: 2,531,450. Filing ↗machine: t40 · r7 · c10 · span 1676083–1676092
3Section 01, J. Tyson HagaleDEF 14A2026-04-070001193125-26-144643Section “Summary Compensation Table” · page 45. As printed: 2,531,398. Filing ↗machine: t40 · r10 · c10 · span 1689578–1689587
4Section 01, R. Samuel Smith Jr.DEF 14A2026-04-070001193125-26-144643Section “Summary Compensation Table” · page 45. As printed: 2,214,698. Filing ↗machine: t40 · r13 · c10 · span 1702834–1702843
5Section 01, Jennifer DavisDEF 14A2026-04-070001193125-26-144643Section “Summary Compensation Table” · page 45. As printed: 1,845,220. Filing ↗machine: t40 · r16 · c10 · span 1716007–1716016
6Section 03, Karl Glassman DEF 14A2026-04-070001193125-26-144643Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t40 · r6 · c3 · span 1668945–1668952
7Section 07, pay ratioDEF 14A2026-04-070001193125-26-144643Section “CEO Pay Ratio”. As printed: 194 : 1. Filing ↗
8Section 08, Robert E. BrunnerDEF 14A2026-04-070001193125-26-144643Section “Director Compensation”. As printed: 324,063. Filing ↗machine: t12 · r6 · c10 · span 614176–614183
9Section 08, Joseph W. McClanathanDEF 14A2026-04-070001193125-26-144643Section “Director Compensation”. As printed: 323,898. Filing ↗machine: t12 · r9 · c10 · span 628581–628588
10Section 08, Jai ShahDEF 14A2026-04-070001193125-26-144643Section “Director Compensation”. As printed: 310,468. Filing ↗machine: t12 · r11 · c10 · span 638186–638193
11Section 08, Phoebe A. WoodDEF 14A2026-04-070001193125-26-144643Section “Director Compensation”. As printed: 298,968. Filing ↗machine: t12 · r12 · c10 · span 642989–642996
12Section 08, Mary CampbellDEF 14A2026-04-070001193125-26-144643Section “Director Compensation”. As printed: 286,602. Filing ↗machine: t12 · r7 · c10 · span 618978–618985
13Section 08, Angela BarbeeDEF 14A2026-04-070001193125-26-144643Section “Director Compensation”. As printed: 281,410. Filing ↗machine: t12 · r4 · c10 · span 604599–604607
14Section 08, Srikanth PadmanabhanDEF 14A2026-04-070001193125-26-144643Section “Director Compensation”. As printed: 280,914. Filing ↗machine: t12 · r10 · c10 · span 633388–633395
15Section 08, Manuel A. FernandezDEF 14A2026-04-070001193125-26-144643Section “Director Compensation”. As printed: 77,337. Filing ↗machine: t12 · r8 · c10 · span 623771–623777
16Section 08, Mark A. BlinnDEF 14A2026-04-070001193125-26-144643Section “Director Compensation”. As printed: 59,789. Filing ↗machine: t12 · r5 · c10 · span 609370–609376
17Section 08, Karl G. GlassmanDEF 14A2026-04-070001193125-26-144643Section “Director Compensation”. As printed: 0. Filing ↗
18Section 06, 2026 voteForm 8-K2026-05-220001193125-26-236979Item 5.07 · say-on-pay result. As reported: 94.2% (votes for as printed: 94,779,810). Filing ↗
19Section 06, 2025 voteForm 8-K2025-05-090001193125-25-116908Item 5.07 · say-on-pay result. As reported: 94.79% (votes for as printed: 88,934,498). Filing ↗
20Section 06, 2024 voteForm 8-K2024-05-100001193125-24-136180Item 5.07 · say-on-pay result. As reported: 93.84% (votes for as printed: 86,034,751). Filing ↗
21Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
22Section 09b board cost (computed)ComputedcomputedCash 969,000 + equity 1,150,000 + all other 108,046 = 2,227,046, summed across the director compensation table rows.machine: formula: Σ = 2,227,046
23Dover Corporation, Section 10b CEO totalDEF 14A2026-03-240001193125-26-120708CEO total compensation as printed in Dover Corporation's own proxy. As printed: 18,757,706. Filing ↗machine: t263 · r2 · c35 · span 813120–813130
24The Timken Company, Section 10b CEO totalDEF 14A2026-03-170001206774-26-000141CEO total compensation as printed in The Timken Company's own proxy. As printed: 15,045,651. Filing ↗machine: r1 · c8 · span 747487–747498
25Pentair plc, Section 10b CEO totalDEF 14A2026-03-200000077360-26-000014CEO total compensation as printed in Pentair plc's own proxy. As printed: 11,374,255. Filing ↗machine: r3 · c27 · span 1024713–1024723
26Carlisle Companies Incorporated, Section 10b CEO totalDEF 14A2026-03-170001193125-26-109193CEO total compensation as printed in Carlisle Companies Incorporated's own proxy. As printed: 11,359,438. Filing ↗machine: t108 · r2 · c44 · span 570250–570260
27Leggett & Platt (subject), Section 10b CEO totalDEF 14A2026-04-070001193125-26-144643CEO total compensation as printed in Leggett & Platt's own proxy. As printed: 10,893,870. Filing ↗machine: t40 · r4 · c10 · span 1662833–1662843
28Fortune Brands Innovations, Inc., Section 10b CEO totalDEF 14A2026-03-300001193125-26-132105CEO total compensation as printed in Fortune Brands Innovations, Inc.'s own proxy. As printed: 10,476,545. Filing ↗machine: t134 · r4 · c31 · span 1680525–1680535
29Steelcase Inc., Section 10b CEO totalDEF 14A2025-05-280001050825-25-000082CEO total compensation as printed in Steelcase Inc.'s own proxy. As printed: 10,173,889. Filing ↗machine: span 673033–673043
30Snap-on Incorporated, Section 10b CEO totalDEF 14A2026-03-120000091440-26-000101CEO total compensation as printed in Snap-on Incorporated's own proxy. As printed: 10,138,217. Filing ↗machine: r3 · c27 · span 603974–603985
31Allegion plc, Section 10b CEO totalDEF 14A2026-04-170001104659-26-044597CEO total compensation as printed in Allegion plc's own proxy. As printed: 9,155,073. Filing ↗machine: t220 · r9 · c18 · span 1257755–1257764
32Lennox International Inc., Section 10b CEO totalDEF 14A2026-04-080001069202-26-000046CEO total compensation as printed in Lennox International Inc.'s own proxy. As printed: 8,434,155. Filing ↗machine: r3 · c27 · span 747666–747675
33HNI Corporation, Section 10b CEO totalDEF 14A2026-03-250001140361-26-011104CEO total compensation as printed in HNI Corporation's own proxy. As printed: 8,218,947. Filing ↗machine: t142 · r2 · c25 · span 751396–751405
34Masco Corporation, Section 10b CEO totalDEF 14A2026-04-100001193125-26-151241CEO total compensation as printed in Masco Corporation's own proxy. As printed: 6,641,952. Filing ↗machine: r4 · c44 · span 672880–672889
35MillerKnoll, Inc., Section 10b CEO totalDEF 14A2026-08-280000066382-26-000143CEO total compensation as printed in MillerKnoll, Inc.'s own proxy. As printed: 6,139,932. Filing ↗machine: r2 · c24 · span 634666–634675
36A. O. Smith Corporation, Section 10b CEO totalDEF 14A2026-03-040001193125-26-089938CEO total compensation as printed in A. O. Smith Corporation's own proxy. As printed: 4,960,450. Filing ↗machine: t139 · r3 · c44 · span 652859–652868
37Section 10a, Dover Corporation reciprocityDEF 14A0001193125-26-120708Dover Corporation's most recent proxy was read; its disclosed peer group does not include Leggett & Platt. Filing ↗
38Section 10a, Allegion plc reciprocityDEF 14A0001104659-26-044597Allegion plc's most recent proxy was read; its disclosed peer group does not include Leggett & Platt. Filing ↗
39Section 10a, HNI Corporation reciprocityDEF 14A0001140361-26-011104HNI Corporation names Leggett & Platt in its own disclosed peer group (read from its most recent proxy). Filing ↗
40Section 10a, Snap-on Incorporated reciprocityDEF 14A0000091440-26-000101Snap-on Incorporated's most recent proxy was read; its disclosed peer group does not include Leggett & Platt. Filing ↗
41Section 10a, The Timken Company reciprocityDEF 14A0001206774-26-000141The Timken Company's most recent proxy was read; its disclosed peer group does not include Leggett & Platt. Filing ↗
42Section 10a, Lennox International Inc. reciprocityDEF 14A0001069202-26-000046Lennox International Inc.'s most recent proxy was read; its disclosed peer group does not include Leggett & Platt. Filing ↗
43Section 10a, MillerKnoll, Inc. reciprocityDEF 14A0000066382-26-000143MillerKnoll, Inc. names Leggett & Platt in its own disclosed peer group (read from its most recent proxy). Filing ↗
44Section 10a, Pentair plc reciprocityDEF 14A0000077360-26-000014Pentair plc's most recent proxy was read; its disclosed peer group does not include Leggett & Platt. Filing ↗