Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-10-02

Limoneira (LMNR)

CEO Harold Edwards was paid $1,277,951 in fiscal year 2025, ↓ down 48.9% from fiscal year 2024, the 22nd percentile of its disclosed peer group (SEC filing 0001174947-26-000188 ↗): 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
22nd
CEO pay percentile vs peers
24:1
CEO-to-median pay ratio
75.69%
Say-on-pay support, latest vote

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LMNR's next annual pay disclosure, estimated February 9, 2027.est. Filing ↗

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 FY2024→2025
Harold Edwards$1,277,951$2,498,908$3,653,352↓ −1,220,957
Mark Palamountain742,8051,482,8222,160,670↓ −740,017

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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Companies that benchmark against LMNR
6 companies name LMNR as a compensation peer

The list of companies that name LMNR as a peer is temporarily unavailable — recheck shortly.

01b

Executives — the named officers

One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.

ExecutiveRoleFY2025 total
Harold EdwardsCEO$1,277,951
Mark PalamountainCFO$742,805
01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Barbara CarboneIndependent Director$172,500
Edgar A. TerryIndependent Director$164,500
Elizabeth MoraIndependent Director$175,000
Gordon E. KimballIndependent Director$161,000
Peter J. NolanIndependent Director$161,000
Scott S. SlaterChair of the Board$220,000
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 ↗
Elizabeth MoraDirector2026-03-25D6,31500CommonForm 4 ↗
Gordon E. KimballDirector2026-03-25A6,31500CommonForm 4 ↗
Peter J. NolanDirector2026-03-25D6,31500CommonForm 4 ↗
Barbara CarboneDirector2026-03-25D6,31500CommonForm 4 ↗
Edgar A. TerryDirector2026-03-25A6,31500CommonForm 4 ↗
Scott S. SlaterDirector2026-03-25A6,31500CommonForm 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 ↗
Gregory C. HammVP, CFO and Treasurer2026-08-03D1,0001312,986CommonForm 4 ↗
Gregory C. HammVP, CFO and Treasurer2026-09-01D1,0001413,791CommonForm 4 ↗
Gregory C. HammVP, CFO and Treasurer2026-10-01D1,0001211,905CommonForm 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 EdwardsPSU2024-11-019,78919,577—39,154$500,000
Mark Palamountain—2024-11-01——9,789——
Harold Edwards—2024-11-01——19,577——
Mark PalamountainPSU2024-11-014,8949,789—19,577250,000
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 EdwardsRSU59,195—1,171,818
Mark PalamountainPSU5,000—70,650
Harold EdwardsPSU39,152—553,218
Mark PalamountainRSU33,998—677,576
Mark PalamountainPSU20,254—286,189
Harold EdwardsRSU10,000—263,000
Mark PalamountainRSU5,000—131,500
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
Peter J. NolanIndependent · Audit & Finance · Risk Management76,00085,000000161,000
Gordon E. KimballIndependent · Audit & Finance76,00085,000000161,000
Harold S. EdwardsEmployee director000—00
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 guidelineGuidelines will not be counted toward meeting the Ownership Requirement. In addition, establishing any new 10b5-1 plans will not be permitted until the Covered Executive or Director has achieved the Ownership Requirement.
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.

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.

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
1Vital Farms, Inc.2025Russell Diez-Canseco$749,808$2,149,975—$697,500$3,616,512
2Mission Produce, Inc.2025Stephen Barnard825,8501,157,89101,010,8803,050,746
3Tejon Ranch Co.2025Matthew Walker513,3931,441,6790396,4632,355,829
4The St. Joe Company2025Jorge Gonzalez611,673308,143001,857,798
5Benson Hill, Inc.2023Adrienne Elsner277,1151,034,9400335,6511,733,346
6Alico, Inc.2025John Kiernan544,529468,1800238,8561,385,168
7Maui Land & Pineapple Company, Inc.2025Race Randle551,250826,8760—1,378,306
8Limoneira2025Harold Edwards719,250499,997001,277,951
9Cadiz, Inc.2025Susan Kennedy400,000645,625001,057,625
10Calavo Growers, Inc.2024Lecil Cole66,16000077,760
—Bridgford Foods Corporation——————not in coverage universe
—Village Farms International, Inc.——————not in coverage universe
—Farmer Bros. Co.——————not in coverage universe
—Lifeway Foods, Inc.——————not in coverage universe
—The Duckhorn Portfolio, 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 disclosednot disclosedNoSemler Brossy Consulting Group, LLC
Benson Hill, Inc.not disclosednot disclosednot disclosedAon Consulting Inc.
Bridgford Foods Corporationnot disclosednot disclosednot disclosednot disclosed
Cadiz, Inc.not disclosedRSU 100not disclosedCoda Advisors
Calavo Growers, Inc.not disclosednot disclosednot disclosedPay Governance LLC
Farmer Bros. Co.not disclosednot disclosednot disclosednot disclosed
Lifeway Foods, Inc.not disclosednot disclosednot disclosednot disclosed
Maui Land & Pineapple Company, Inc.not disclosedRSU 100not disclosedFerguson Partners Consulting
Mission Produce, Inc.not disclosedPSU 50 · RSU 50not disclosedPearl Meyer
Tejon Ranch Co.62%not disclosedNoSemler Brossy
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 disclosedFW Cook

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.

10d

Frequently asked questions

Who was the highest-paid executive at Limoneira in fiscal 2025?
As disclosed, Harold Edwards (President & Chief Executive Officer) was the highest-paid executive at Limoneira in fiscal 2025, with total compensation of $1,277,951.
How does Limoneira's chief executive pay compare to its disclosed peer group?
As disclosed, Harold Edwards's total compensation ranked at the 22nd percentile of Limoneira's disclosed peer group.
What is Limoneira's CEO-to-median employee pay ratio?
As disclosed, Limoneira's CEO-to-median employee pay ratio was 24:1.
How did shareholders vote on Limoneira's executive compensation?
As disclosed, 75.69% of shareholders supported Limoneira's executive compensation in the latest say-on-pay vote.
How much does Limoneira spend in total on board compensation for fiscal 2025?
As disclosed, Limoneira reported total board compensation of $1,054,000 for fiscal 2025.

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.

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 420843–420929
9Section 08, Elizabeth MoraDEF 14A2026-02-180001174947-26-000188Section “Director Compensation”. As printed: 175,000. Filing ↗machine: t118 · r4 · c1 · span 418513–418599
10Section 08, Barbara CarboneDEF 14A2026-02-180001174947-26-000188Section “Director Compensation”. As printed: 172,500. Filing ↗machine: t118 · r1 · c1 · span 415070–415156
11Section 08, Edgar A. TerryDEF 14A2026-02-180001174947-26-000188Section “Director Compensation”. As printed: 164,500. Filing ↗machine: t118 · r7 · c1 · span 422097–422183
12Section 08, Peter J. NolanDEF 14A2026-02-180001174947-26-000188Section “Director Compensation”. As printed: 161,000. Filing ↗machine: t118 · r5 · c1 · span 419766–419852
13Section 08, Gordon E. KimballDEF 14A2026-02-180001174947-26-000188Section “Director Compensation”. As printed: 161,000. Filing ↗machine: t118 · r3 · c1 · span 417437–417523
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, Elizabeth Mora 2026-03-25Form 42026-03-260001104659-26-035192Insider equity transaction reported since the proxy statement. Filing ↗
17Section 02, Gordon E. Kimball 2026-03-25Form 42026-03-260001104659-26-035181Insider equity transaction reported since the proxy statement. Filing ↗
18Section 02, Peter J. Nolan 2026-03-25Form 42026-03-260001104659-26-035173Insider equity transaction reported since the proxy statement. Filing ↗
19Section 02, Barbara Carbone 2026-03-25Form 42026-03-260001104659-26-035185Insider 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, Scott S. Slater 2026-03-25Form 42026-03-260001104659-26-035196Insider 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 02, Gregory C. Hamm 2026-08-03Form 42026-08-110001104659-26-093921Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Gregory C. Hamm 2026-09-01Form 42026-09-010001104659-26-104306Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Gregory C. Hamm 2026-10-01Form 42026-10-020001104659-26-113284Insider equity transaction reported since the proxy statement. Filing ↗
29Section 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 ↗
30Section 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 ↗
31Section 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
32Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
33Section 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).machine: formula: sums + PSU ratio
34Section 09b board cost (computed)Computed——Cash 544,000 + equity 510,000 + all other 0 = 1,054,000, summed across the director compensation table rows.machine: formula: Σ = 1,054,000
35Vital Farms, Inc., Section 10b CEO totalDEF 14A2026-04-270001193125-26-182023CEO total compensation as printed in Vital Farms, Inc.'s own proxy. As printed: 3,616,512. Filing ↗machine: r4 · c38 · span 770826–770835
36Mission Produce, Inc., Section 10b CEO totalDEF 14A2026-02-240001140361-26-006551CEO total compensation as printed in Mission Produce, Inc.'s own proxy. As printed: 3,050,746. Filing ↗machine: r2 · c22 · span 881187–881196
37Tejon 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
38The 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
39Benson Hill, Inc., Section 10b CEO totalDEF 14A2024-06-140001830210-24-000073CEO total compensation as printed in Benson Hill, Inc.'s own proxy. As printed: 1,733,346. Filing ↗machine: r3 · c48 · span 538580–538589
40Alico, Inc., Section 10b CEO totalDEF 14A2026-01-140000003545-26-000004CEO total compensation as printed in Alico, Inc.'s own proxy. As printed: 1,385,168. Filing ↗machine: r2 · c43 · span 363656–363665
41Maui 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
42Limoneira (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
43Cadiz, Inc., Section 10b CEO totalDEF 14A2026-04-300001437749-26-014053CEO total compensation as printed in Cadiz, Inc.'s own proxy. As printed: 1,057,625. Filing ↗
44Calavo Growers, Inc., Section 10b CEO totalDEF 14A2025-02-280001104659-25-019004CEO total compensation as printed in Calavo Growers, Inc.'s own proxy. As printed: 77,760. Filing ↗machine: r1 · c47 · span 634675–634681
45Section 10a, Tejon Ranch Co. reciprocityDEF 14A—0001628280-26-023519Tejon Ranch Co. names Limoneira in its own disclosed peer group (read from its most recent proxy). Filing ↗
46Section 10a, Alico, Inc. reciprocityDEF 14A—0000003545-24-000019Alico, Inc. names Limoneira in its own disclosed peer group (read from its most recent proxy). Filing ↗
47Section 10a, Mission Produce, Inc. reciprocityDEF 14A—0001140361-26-006551Mission Produce, Inc.'s most recent proxy was read; its disclosed peer group does not include Limoneira. Filing ↗
48Section 10a, Vital Farms, Inc. reciprocityDEF 14A—0001193125-26-182023Vital Farms, Inc. names Limoneira in its own disclosed peer group (read from its most recent proxy). Filing ↗
49Section 10a, Cadiz, Inc. reciprocityDEF 14A—0001437749-26-014053Cadiz, Inc. names Limoneira in its own disclosed peer group (read from its most recent proxy). Filing ↗
50Section 10a, Calavo Growers, Inc. reciprocityDEF 14A—0001104659-25-019004Calavo Growers, Inc. names Limoneira in its own disclosed peer group (read from its most recent proxy). Filing ↗

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