Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-01

Limoneira (LMNR)

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.

$1,277,951
Harold Edwards total, FY2025
1st
CEO pay percentile vs peers
24:1
CEO-to-median pay ratio
75.69%
Say-on-pay support, latest vote
Companies that benchmark against LMNR
2 companies name LMNR as a compensation peer

Each company listed discloses LMNR 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 LMNR 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
Harold Edwards$719,250$0$499,997$0$0$0$58,704$1,277,951
President & Chief Executive Officer
Mark Palamountain450,0000250,01100042,794742,805
Executive Vice President, Chief Financial Officer & Treasurer

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
Harold Edwards$1,277,951
Mark Palamountain742,805

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

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Gregory C. HammVP, CFO and Treasurer2026-03-03D1,000$14$13,968CommonForm 4 ↗
Peter J. NolanDirector2026-03-25D6,31500CommonForm 4 ↗
Barbara CarboneDirector2026-03-25D6,31500CommonForm 4 ↗
Scott S. SlaterDirector2026-03-25A6,31500CommonForm 4 ↗
Elizabeth MoraDirector2026-03-25D6,31500CommonForm 4 ↗
Edgar A. TerryDirector2026-03-25A6,31500CommonForm 4 ↗
Gordon E. KimballDirector2026-03-25A6,31500CommonForm 4 ↗
Gregory C. HammVP, CFO and Treasurer2026-04-02D1,0001313,410CommonForm 4 ↗
Gregory C. HammVP, CFO and Treasurer2026-05-01D1,0001312,785CommonForm 4 ↗
Gregory C. HammVP, CFO and Treasurer2026-06-01D1,0001312,766CommonForm 4 ↗
Gregory C. HammVP, CFO and Treasurer2026-07-01D1,0001313,054CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Harold EdwardsPSU2024-11-019,78919,57739,154$500,000
Mark Palamountain2024-11-019,789
Harold Edwards2024-11-0119,577
Mark PalamountainPSU2024-11-014,8949,78919,577250,000
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Harold Edwards$0$500,000$0100.0%
Mark Palamountain0250,0000100.0%

% 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
Harold EdwardsPSU10,000$141,300
Harold EdwardsRSU59,1951,171,818
Mark PalamountainPSU5,00070,650
Harold EdwardsPSU39,152553,218
Mark PalamountainRSU33,998677,576
Mark PalamountainPSU20,254286,189
Harold EdwardsRSU10,000263,000
Mark PalamountainRSU5,000131,500
05

Incentive-plan design — the Compensation Discussion & Analysis

The compensation policies developed by the Compensation Committee are based on the philosophy that compensation should reflect both the Company's performance, financially and operationally, the success of the Company in executing against our strategic roadmap, and individual performance.

CEO STI target (% of salary)75%
CEO LTI target (% of salary)
Independent consultantPearl Meyer
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-03-258,401,1532,176,064521,84775.69%Passed
20252025-04-096,728,6574,440,800169,51359.34%Passed
20232023-03-216,670,4371,932,449135,89076.33%Passed
20222022-03-227,097,7073,247,021137,77268.61%Passed
20202020-03-2412,606,7331,136,731144,85191.73%Passed
20182018-03-278,006,539220,262739,23197.32%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
20262026-03-2575.69%a
20252025-04-0959.34%b
20232023-03-2176.33%c

a. Approved under the standard stated in the filing — “Abstentions have the same effect as a vote "against" the proposal.”.

b. Approved under the standard stated in the filing — “Abstentions have the same effect as a vote "against" the proposal.”.

c. Approved under the standard stated in the filing — “therefore, an abstention will have the effect of a vote against such proposals.”.

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)24 : 1
CEO total compensation$1,277,931
Median employee compensation$53,770
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Scott S. SlaterIndependent · Board Chair · Compensation · Nominating & Corporate Governance$135,000$85,000$0$0$0$220,000
Elizabeth MoraIndependent · Compensation (Chair) · Nominating & Corporate Governance (Chair)90,00085,000000175,000
Barbara CarboneIndependent · Audit & Finance (Chair) · Compensation87,50085,000000172,500
Edgar A. TerryIndependent · Nominating & Corporate Governance · Risk Management (Chair)79,50085,000000164,500
Gordon E. KimballIndependent · Audit & Finance76,00085,000000161,000
Peter J. NolanIndependent · Audit & Finance · Risk Management76,00085,000000161,000
Harold S. EdwardsEmployee director00000
09

Board fee structure and ownership guideline

Annual cash retainer
Annual equity retainer
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)145,000 / 60,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$544,000
Equity awards (grant-date value)$510,000
All other compensation$0
Total cost of the board$1,054,000

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.

ALCO Alico, Inc.AVO Mission Produce, Inc.MLP Maui Land & Pineapple Company, Inc.VFF Village Farms International, Inc.CVGW Calavo Growers, Inc.NAPA The Duckhorn Portfolio, Inc.BRID Bridgford Foods CorporationVITL Vital Farms, Inc.LWAY Lifeway Foods, Inc.JOE The St. Joe CompanyFARM Farmer Bros. Co.TRC Tejon Ranch Co.CDZI Cadiz, Inc.BHIL Benson Hill, Inc.
10a

Peer reciprocity

Of the companies Limoneira 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.

Alico, Inc. (ALCO) Mission Produce, Inc. (AVO) Maui Land & Pineapple Company, Inc. (MLP) Village Farms International, Inc. (VFF) Calavo Growers, Inc. (CVGW) The Duckhorn Portfolio, Inc. (NAPA) Bridgford Foods Corporation (BRID) Vital Farms, Inc. (VITL) Lifeway Foods, Inc. (LWAY) The St. Joe Company (JOE) Farmer Bros. Co. (FARM) Tejon Ranch Co. (TRC)35 Cadiz, Inc. (CDZI) Benson Hill, Inc. (BHIL)

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 Limoneira.

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
1Tejon Ranch Co.2025Matthew Walker$513,393$1,441,679$0$396,463$2,355,829
2The St. Joe Company2025Jorge Gonzalez611,673308,143001,857,798
3Maui Land & Pineapple Company, Inc.2025Race Randle551,250826,87601,378,306
4Limoneira2025Harold Edwards719,250499,997001,277,951
Alico, Inc.not in coverage universe
Mission Produce, Inc.not in coverage universe
Village Farms International, Inc.not in coverage universe
Calavo Growers, Inc.not in coverage universe
The Duckhorn Portfolio, Inc.not in coverage universe
Bridgford Foods Corporationnot in coverage universe
Vital Farms, Inc.not in coverage universe
Lifeway Foods, Inc.not in coverage universe
Farmer Bros. Co.not in coverage universe
Cadiz, Inc.not in coverage universe
Benson Hill, 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
Limoneiranot disclosedPSU 50 · RSU 50NoPearl Meyer
Alico, Inc.not disclosedPSU 100NoSemler Brossy Consulting Group, LLC
Benson Hill, Inc.not disclosednot disclosednot disclosednot disclosed
Bridgford Foods Corporationnot disclosednot disclosednot disclosednot disclosed
Cadiz, Inc.not disclosednot disclosednot disclosednot disclosed
Calavo Growers, Inc.not disclosednot disclosednot disclosednot disclosed
Farmer Bros. Co.not disclosednot disclosednot disclosednot disclosed
Lifeway Foods, Inc.not disclosednot disclosednot disclosednot disclosed
Maui Land & Pineapple Company, Inc.not disclosedRSU 100not disclosedPay Governance, LLC
Mission Produce, Inc.not disclosednot disclosednot disclosednot disclosed
Tejon Ranch Co.62%RSU 50 · PSU 50NoSemler Brossy Consulting Group, LLC
The Duckhorn Portfolio, Inc.not disclosednot disclosednot disclosednot disclosed
The St. Joe Company150%RSU 100not disclosednot disclosed
Village Farms International, Inc.not disclosednot disclosednot disclosednot disclosed
Vital Farms, 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, Harold EdwardsDEF 14A2026-02-180001174947-26-000188Section “Summary Compensation Table for Fiscal Years 2025, 2024 and 2023” · page 46. As printed: 1,277,951. Filing ↗machine: r1 · c6 · span 771090–771099
2Section 01, Mark PalamountainDEF 14A2026-02-180001174947-26-000188Section “Summary Compensation Table for Fiscal Years 2025, 2024 and 2023” · page 46. As printed: 742,805. Filing ↗machine: r4 · c6 · span 776184–776191
3Section 03, Harold Edwards PSUDEF 14A2026-02-180001174947-26-000188Section “Grants of Plan-Based Awards in Fiscal Year 2025” · grants of plan-based awards table. Filing ↗machine: t234 · r8 · c8 · span 819496–819502
4Section 03, Mark Palamountain DEF 14A2026-02-180001174947-26-000188Section “Grants of Plan-Based Awards in Fiscal Year 2025” · grants of plan-based awards table. Filing ↗machine: t234 · r12 · c8 · span 829239–829244
5Section 03, Harold Edwards DEF 14A2026-02-180001174947-26-000188Section “Grants of Plan-Based Awards in Fiscal Year 2025” · grants of plan-based awards table. Filing ↗machine: t234 · r8 · c8 · span 819496–819502
6Section 03, Mark Palamountain PSUDEF 14A2026-02-180001174947-26-000188Section “Grants of Plan-Based Awards in Fiscal Year 2025” · grants of plan-based awards table. Filing ↗machine: t234 · r12 · c8 · span 829239–829244
7Section 07, pay ratioDEF 14A2026-02-180001174947-26-000188Section “CEO Pay Ratio”. As printed: 24 : 1. Filing ↗
8Section 08, Scott S. SlaterDEF 14A2026-02-180001174947-26-000188Section “Director Compensation”. As printed: 220,000. Filing ↗machine: t118 · r6 · c1 · span 420915–420922
9Section 08, Elizabeth MoraDEF 14A2026-02-180001174947-26-000188Section “Director Compensation”. As printed: 175,000. Filing ↗machine: t118 · r4 · c1 · span 418585–418592
10Section 08, Barbara CarboneDEF 14A2026-02-180001174947-26-000188Section “Director Compensation”. As printed: 172,500. Filing ↗machine: t118 · r1 · c1 · span 415142–415149
11Section 08, Edgar A. TerryDEF 14A2026-02-180001174947-26-000188Section “Director Compensation”. As printed: 164,500. Filing ↗machine: t118 · r7 · c1 · span 422169–422176
12Section 08, Gordon E. KimballDEF 14A2026-02-180001174947-26-000188Section “Director Compensation”. As printed: 161,000. Filing ↗machine: t118 · r3 · c1 · span 417509–417516
13Section 08, Peter J. NolanDEF 14A2026-02-180001174947-26-000188Section “Director Compensation”. As printed: 161,000. Filing ↗machine: t118 · r5 · c1 · span 419838–419845
14Section 08, Harold S. EdwardsDEF 14A2026-02-180001174947-26-000188Section “Director Compensation”. As printed: 0. Filing ↗machine: t118 · r2 · c1 · span 416341–416342
15Section 02, Gregory C. Hamm 2026-03-03Form 42026-03-030001104659-26-022924Insider equity transaction reported since the proxy statement. Filing ↗
16Section 02, Peter J. Nolan 2026-03-25Form 42026-03-260001104659-26-035173Insider equity transaction reported since the proxy statement. Filing ↗
17Section 02, Barbara Carbone 2026-03-25Form 42026-03-260001104659-26-035185Insider equity transaction reported since the proxy statement. Filing ↗
18Section 02, Scott S. Slater 2026-03-25Form 42026-03-260001104659-26-035196Insider equity transaction reported since the proxy statement. Filing ↗
19Section 02, Elizabeth Mora 2026-03-25Form 42026-03-260001104659-26-035192Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, Edgar A. Terry 2026-03-25Form 42026-03-260001104659-26-035189Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, Gordon E. Kimball 2026-03-25Form 42026-03-260001104659-26-035181Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Gregory C. Hamm 2026-04-02Form 42026-04-030001104659-26-039623Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Gregory C. Hamm 2026-05-01Form 42026-05-050001104659-26-055619Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Gregory C. Hamm 2026-06-01Form 42026-06-020001104659-26-069529Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Gregory C. Hamm 2026-07-01Form 42026-07-010001104659-26-079866Insider equity transaction reported since the proxy statement. Filing ↗
26Section 06, 2026 voteForm 8-K2026-03-270001104659-26-036074Item 5.07 · say-on-pay result. As reported: 75.69% (votes for as printed: 8,401,153.04). Filing ↗
27Section 06, 2025 voteForm 8-K2025-04-100001104659-25-033784Item 5.07 · say-on-pay result. As reported: 59.34% (votes for as printed: 6,728,657.57). Filing ↗
28Section 06, 2023 voteForm 8-K2023-03-270001104659-23-036857Item 5.07 · say-on-pay result. As reported: 76.33% (votes for as printed: 6,670,437). Filing ↗machine: span 25669–28137
29Section 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
30Section 09b board cost (computed)ComputedcomputedCash 544,000 + equity 510,000 + all other 0 = 1,054,000, summed across the director compensation table rows.machine: formula: Σ = 1,054,000
31Tejon Ranch Co., Section 10b CEO totalDEF 14A2026-04-030001628280-26-023519CEO total compensation as printed in Tejon Ranch Co.'s own proxy. As printed: 2,355,829. Filing ↗machine: t40 · r3 · c14 · span 701495–701504
32The St. Joe Company, Section 10b CEO totalDEF 14A2026-03-310001140361-26-012328CEO total compensation as printed in The St. Joe Company's own proxy. As printed: 1,857,798. Filing ↗machine: r2 · c18 · span 439625–439634
33Maui Land & Pineapple Company, Inc., Section 10b CEO totalDEF 14A2026-04-090001437749-26-011910CEO total compensation as printed in Maui Land & Pineapple Company, Inc.'s own proxy. As printed: 1,378,306. Filing ↗machine: t67 · r1 · c29 · span 307864–307873
34Limoneira (subject), Section 10b CEO totalDEF 14A2026-02-180001174947-26-000188CEO total compensation as printed in Limoneira's own proxy. As printed: 1,277,951. Filing ↗machine: r1 · c6 · span 771090–771099
35Section 10a, Tejon Ranch Co. reciprocityDEF 14A0001628280-26-023519Tejon Ranch Co. names Limoneira in its own disclosed peer group (read from its most recent proxy). Filing ↗