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

LA-Z-BOY (LZB)

Fiscal year 2026 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.

$7,295,975
Melinda Whittington total, FY2026
62nd
CEO pay percentile vs peers
184:1
CEO-to-median pay ratio
97.72%
Say-on-pay support, latest vote
Companies that benchmark against LZB
10 companies name LZB as a compensation peer

Each company listed discloses LZB 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 LZB 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 2026

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Melinda Whittington$1,063,000$0$4,711,847$0$1,261,719$0$259,409$7,295,975
Board Chair, President and Chief Executive Officer
Taylor Luebke476,6670830,4400339,252054,6651,701,024
Senior Vice President and Chief Financial Officer
Robert Sundy II517,8330696,8410319,578065,3241,599,576
President, Retail
Terrence Linz504,1670671,5890310,945048,8731,535,574
President, Wholesale Brands
Michael Leggett470,6670609,3650335,067052,6231,467,722
Senior Vice President and Chief Supply Chain 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 officerFY2026 totalFY2025 totalFY2024 totalΔ FY20252026
Melinda Whittington$7,295,975$6,663,764$5,872,110+632,211
Taylor Luebke1,701,024952,566+748,458
Robert Sundy II1,599,5761,438,2291,341,943+161,347
Terrence Linz1,535,5741,375,937+159,637
Michael Leggett1,467,7221,447,1651,311,231+20,557

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 2026

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Robert Sundy IIRSU2025-06-238,444$323,067
Michael LeggettRSU2025-06-237,384282,512
Michael LeggettPSU2025-06-236157,38414,768326,853
Taylor LuebkeRSU2025-06-2310,063385,010
Terrence LinzRSU2025-06-238,138311,360
Terrence LinzPSU2025-06-236788,13816,276360,229
Taylor LuebkePSU2025-06-2383910,06320,126445,430
Robert Sundy IIPSU2025-06-237048,44416,888373,774
Melinda WhittingtonPSU2025-06-234,75857,096114,1922,527,354
Melinda WhittingtonRSU2025-06-2357,0962,184,493
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Robert Sundy II$323,067$373,774$053.6%
Michael Leggett282,512326,853053.6%
Taylor Luebke385,010445,430053.6%
Terrence Linz311,360360,229053.6%
Melinda Whittington2,184,4932,527,354053.6%

% 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 2026

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Melinda WhittingtonPSU161,058$5,701,453
Melinda WhittingtonRSU133,2624,717,475
Melinda WhittingtonPSU31,3971,111,454
Robert Sundy IIPSU23,344826,378
Terrence LinzPSU22,544798,058
Michael LeggettPSU21,852773,561
Taylor LuebkePSU19,726698,300
Robert Sundy IIRSU19,462688,955
Terrence LinzRSU18,840666,936
Michael LeggettRSU18,667660,812
Taylor LuebkeRSU17,022602,579
Robert Sundy IIPSU4,495159,123
Michael LeggettPSU4,372154,769
Terrence LinzPSU4,346153,848
Taylor LuebkePSU2,883102,058
Melinda WhittingtonOption25,31824.41
Robert Sundy IIOption3,18924.41
Terrence LinzOption3,17824.41
Michael LeggettOption3,95824.41
05

Incentive-plan design — the Compensation Discussion & Analysis

Our compensation philosophy is to provide a total direct compensation (“TDC”) opportunity generally targeted to the median of the competitive market, with consideration of performance, skills, experience, and other factors in setting individual pay levels. The majority of each NEO’s annual TDC opportunity is at-risk, with the amount realized, if any, based on the company’s financial and/or stock price performance.

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

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-08-2534,505,041805,38667,15197.72%Passed
20252025-08-2634,279,5372,455,940123,72793.31%Passed
20242024-08-2735,751,4451,185,11451,12996.79%Passed
20232023-08-2936,019,8061,143,30677,74496.92%Passed
20222022-08-3035,298,2801,754,23635,22095.27%Passed
20212021-08-1937,018,8642,030,89726,17494.8%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
20262026-08-2597.72%a
20252025-08-2693.31%b
20242024-08-2796.79%c

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

c. Voting standard not stated in the filing.

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)184 : 1
CEO total compensation
Median employee compensation$39,555
08

Director compensation — fiscal year 2026

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Janet E. KerrIndependent · Nominating and Governance (Chair)$120,000$135,015$61,272$316,287
Michael T. LawtonIndependent · Audit127,500135,01529,395291,910
Lauren B. PetersIndependent · Audit (Chair)125,000135,01520,664280,679
Rebecca L. O'GradyIndependent · Compensation and Talent Oversight (Chair)120,000135,01512,073267,088
Mark S. LaVigneIndependent · Lead Independent Director · Compensation and Talent Oversight116,821135,0153,375255,211
Erika L. AlexanderIndependent · Compensation and Talent Oversight · Nominating and Governance105,000135,0155,627245,642
Matthew H. BaerIndependent · Nominating and Governance105,000135,0154,760244,775
Raza S. HaiderIndependent · Audit105,000135,0153,375243,390
William C. BoorIndependent · Audit41,94396,182592138,717
Sarah M. GallagherIndependent · Not standing for re-election · Departed during FY33,66804,11637,784
James P. HackettIndependent · Not standing for re-election · Departed during FY33,668097634,644
Melinda D. WhittingtonEmployee director · Board Chair0
09

Board fee structure and ownership guideline

Annual cash retainer$105,000
Annual equity retainer$135,014
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)20,000 / 15,000 / 15,000
Stock ownership guideline$525,000
09b

Total cost of the board

ComponentFY2026
Cash retainers and fees$1,033,600
Equity awards (grant-date value)$1,176,302
All other compensation$146,225
Total cost of the board$2,356,127

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2026

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 LA-Z-BOY 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 LA-Z-BOY.

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
1Wolverine World Wide, Inc.2025Christopher Hufnagel$1,192,308$5,800,023$0$2,663,854$10,854,729
2Steelcase Inc.2025Sara Armbruster1,031,2506,254,26602,434,37310,173,889
3HNI Corporation2025Jeffrey Lorenger1,056,7405,092,31601,787,4048,218,947
4LA-Z-BOY2026Melinda Whittington1,063,0004,711,84701,261,7197,295,975
5Sleep Number Corporation2025Linda Findley853,8464,104,519006,233,574
6MillerKnoll, Inc.2026Andi Owen1,121,5384,174,0910709,5136,139,932
7Beyond, Inc.2025Marcus Lemonis05,928,963005,928,963
8Interface, Inc.2025Laurel Hurd930,0002,821,99901,769,3255,651,488
9Helen of Troy Limited2026Noel Geoffroy177,0003,800,000039,9824,070,466
10Ethan Allen Interiors Inc.2025M. Farooq Kathwari1,150,0501,517,98801,037,3003,833,334
The Aaron's Company, Inc.not 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
LA-Z-BOYnot disclosedRSU 50 · PSU 50not disclosedFrederic W. Cook & Co., Inc.
Beyond, Inc.84.9%PSU 50 · RSU 50NoFW Cook
Ethan Allen Interiors Inc.not disclosednot disclosednot disclosednot disclosed
Helen of Troy Limited16.3%PSU 50 · RSU 50NoFW Cook
HNI Corporation140%PSU 50 · RSU 50NoExequity LLP
Interface, Inc.152.2%PSU 50 · RSU 50NoPearl Meyer & Partners
MillerKnoll, Inc.not disclosedPSU 60 · RSU 40not disclosedPay Governance LLC
Sleep Number Corporationnot disclosedPSU 50 · RSU 50Yes — Relative TSRFrederic W. Cook & Co., Inc. (FW Cook)
Somnigroup International Inc.not disclosednot disclosednot disclosednot disclosed
Steelcase Inc.192%PSU 60 · RSU 40Yes — rTSRCompensation Advisory Partners (CAP)
The Aaron's Company, Inc.not disclosednot disclosednot disclosednot disclosed
Wolverine World Wide, Inc.not disclosedPSU 70 · RSU 30not disclosedFrederic W. Cook & Co.

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, Melinda WhittingtonDEF 14A2026-07-150000057131-26-000024Section “Executive Compensation Tables” · page 53. As printed: 7,295,975. Filing ↗machine: r3 · c21 · span 898934–898943
2Section 01, Taylor LuebkeDEF 14A2026-07-150000057131-26-000024Section “Executive Compensation Tables” · page 53. As printed: 1,701,024. Filing ↗machine: r6 · c21 · span 907279–907288
3Section 01, Robert Sundy IIDEF 14A2026-07-150000057131-26-000024Section “Executive Compensation Tables” · page 53. As printed: 1,599,576. Filing ↗machine: r9 · c21 · span 913566–913575
4Section 01, Terrence LinzDEF 14A2026-07-150000057131-26-000024Section “Executive Compensation Tables” · page 53. As printed: 1,535,574. Filing ↗machine: r12 · c21 · span 921760–921769
5Section 01, Michael LeggettDEF 14A2026-07-150000057131-26-000024Section “Executive Compensation Tables” · page 53. As printed: 1,467,722. Filing ↗machine: r15 · c21 · span 927978–927987
6Section 03, Robert Sundy II RSUDEF 14A2026-07-150000057131-26-000024Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 980495–980502
7Section 03, Michael Leggett RSUDEF 14A2026-07-150000057131-26-000024Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 995997–996004
8Section 03, Michael Leggett PSUDEF 14A2026-07-150000057131-26-000024Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 993562–993569
9Section 03, Taylor Luebke RSUDEF 14A2026-07-150000057131-26-000024Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 972986–972993
10Section 03, Terrence Linz RSUDEF 14A2026-07-150000057131-26-000024Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 988005–988012
11Section 03, Terrence Linz PSUDEF 14A2026-07-150000057131-26-000024Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 986050–986057
12Section 03, Taylor Luebke PSUDEF 14A2026-07-150000057131-26-000024Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 971030–971037
13Section 03, Robert Sundy II PSUDEF 14A2026-07-150000057131-26-000024Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 978540–978547
14Section 03, Melinda Whittington PSUDEF 14A2026-07-150000057131-26-000024Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 963507–963516
15Section 03, Melinda Whittington RSUDEF 14A2026-07-150000057131-26-000024Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 965465–965474
16Section 07, pay ratioDEF 14A2026-07-150000057131-26-000024Section “CEO Pay Ratio”. As printed: 184 : 1. Filing ↗
17Section 08, Janet E. KerrDEF 14A2026-07-150000057131-26-000024Section “Director Compensation”. As printed: 316,287. Filing ↗machine: span 550908–550915
18Section 08, Michael T. LawtonDEF 14A2026-07-150000057131-26-000024Section “Director Compensation”. As printed: 291,910. Filing ↗machine: span 554497–554504
19Section 08, Lauren B. PetersDEF 14A2026-07-150000057131-26-000024Section “Director Compensation”. As printed: 280,679. Filing ↗machine: span 558345–558352
20Section 08, Rebecca L. O'GradyDEF 14A2026-07-150000057131-26-000024Section “Director Compensation”. As printed: 267,088. Filing ↗machine: span 556294–556301
21Section 08, Mark S. LaVigneDEF 14A2026-07-150000057131-26-000024Section “Director Compensation”. As printed: 255,211. Filing ↗machine: span 552701–552708
22Section 08, Erika L. AlexanderDEF 14A2026-07-150000057131-26-000024Section “Director Compensation”. As printed: 245,642. Filing ↗machine: span 539705–539712
23Section 08, Matthew H. BaerDEF 14A2026-07-150000057131-26-000024Section “Director Compensation”. As printed: 244,775. Filing ↗machine: span 541495–541502
24Section 08, Raza S. HaiderDEF 14A2026-07-150000057131-26-000024Section “Director Compensation”. As printed: 243,390. Filing ↗machine: span 549116–549123
25Section 08, William C. BoorDEF 14A2026-07-150000057131-26-000024Section “Director Compensation”. As printed: 138,717. Filing ↗machine: span 543276–543283
26Section 08, Sarah M. GallagherDEF 14A2026-07-150000057131-26-000024Section “Director Compensation”. As printed: 37,784. Filing ↗machine: span 545363–545369
27Section 08, James P. HackettDEF 14A2026-07-150000057131-26-000024Section “Director Compensation”. As printed: 34,644. Filing ↗machine: span 547325–547331
28Section 08, Melinda D. WhittingtonDEF 14A2026-07-150000057131-26-000024Section “Director Compensation”. As printed: 0. Filing ↗
29Section 06, 2026 voteForm 8-K2026-08-260000057131-26-000037Item 5.07 · say-on-pay result. As reported: 97.72% (votes for as printed: 34,505,041). Filing ↗
30Section 06, 2025 voteForm 8-K2025-08-270000057131-25-000087Item 5.07 · say-on-pay result. As reported: 93.31% (votes for as printed: 34,279,537). Filing ↗
31Section 06, 2024 voteForm 8-K2024-08-280000057131-24-000084Item 5.07 · say-on-pay result. As reported: 96.79% (votes for as printed: 35,751,445). Filing ↗
32Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
33Section 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
34Section 09b board cost (computed)ComputedcomputedCash 1,033,600 + equity 1,176,302 + all other 146,225 = 2,356,127, summed across the director compensation table rows.machine: formula: Σ = 2,356,127
35Wolverine World Wide, Inc., Section 10b CEO totalDEF 14A2026-03-250001140361-26-011157CEO total compensation as printed in Wolverine World Wide, Inc.'s own proxy. As printed: 10,854,729. Filing ↗machine: r2 · c25 · span 1190459–1190470
36Steelcase 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
37HNI 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
38LA-Z-BOY (subject), Section 10b CEO totalDEF 14A2026-07-150000057131-26-000024CEO total compensation as printed in LA-Z-BOY's own proxy. As printed: 7,295,975. Filing ↗machine: r3 · c21 · span 898934–898943
39Sleep Number Corporation, Section 10b CEO totalDEF 14A2026-04-080000827187-26-000031CEO total compensation as printed in Sleep Number Corporation's own proxy. As printed: 6,233,574. Filing ↗machine: t91 · r2 · c2 · span 1404923–1404930
40MillerKnoll, 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
41Beyond, Inc., Section 10b CEO totalDEF 14A2026-03-270001140361-26-011489CEO total compensation as printed in Beyond, Inc.'s own proxy. As printed: 5,928,963. Filing ↗machine: r2 · c25 · span 1236937–1236946
42Interface, Inc., Section 10b CEO totalDEF 14A2026-04-010001437749-26-010857CEO total compensation as printed in Interface, Inc.'s own proxy. As printed: 5,651,488. Filing ↗machine: r4 · c33 · span 602054–602063
43Helen of Troy Limited, Section 10b CEO totalDEF 14A2026-06-240000916789-26-000088CEO total compensation as printed in Helen of Troy Limited's own proxy. As printed: 4,070,466. Filing ↗machine: span 888837–888846
44Ethan Allen Interiors Inc., Section 10b CEO totalDEF 14A2025-09-260001104659-25-093869CEO total compensation as printed in Ethan Allen Interiors Inc.'s own proxy. As printed: 3,833,334. Filing ↗
45Section 10a, HNI Corporation reciprocityDEF 14A0001140361-26-011104HNI Corporation names LA-Z-BOY in its own disclosed peer group (read from its most recent proxy). Filing ↗
46Section 10a, Ethan Allen Interiors Inc. reciprocityDEF 14A0001104659-25-093869Ethan Allen Interiors Inc. names LA-Z-BOY in its own disclosed peer group (read from its most recent proxy). Filing ↗
47Section 10a, Interface, Inc. reciprocityDEF 14A0001437749-26-010857Interface, Inc.'s most recent proxy was read; its disclosed peer group does not include LA-Z-BOY. Filing ↗
48Section 10a, Wolverine World Wide, Inc. reciprocityDEF 14A0001140361-26-011157Wolverine World Wide, Inc.'s most recent proxy was read; its disclosed peer group does not include LA-Z-BOY. Filing ↗
49Section 10a, Beyond, Inc. reciprocityDEF 14A0001140361-26-011489Beyond, Inc. names LA-Z-BOY in its own disclosed peer group (read from its most recent proxy). Filing ↗
50Section 10a, MillerKnoll, Inc. reciprocityDEF 14A0000066382-26-000143MillerKnoll, Inc. names LA-Z-BOY in its own disclosed peer group (read from its most recent proxy). Filing ↗
51Section 10a, Sleep Number Corporation reciprocityDEF 14A0000827187-25-000044Sleep Number Corporation names LA-Z-BOY in its own disclosed peer group (read from its most recent proxy). Filing ↗
52Section 10a, Helen of Troy Limited reciprocityDEF 14A0000916789-26-000088Helen of Troy Limited names LA-Z-BOY in its own disclosed peer group (read from its most recent proxy). Filing ↗