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Companies LA-Z-BOY

LA-Z-BOY (LZB): executive pay, fiscal 2026

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CEO total pay$7,295,975CEO Melinda Whittington · source
Say-on-pay support97.72%Latest vote · source
CEO vs. named peers56th pct.Of 12 peer CEOs
CEO pay ratio184:1To the median employee · source

CEO pay, last three years

  • $5,872,110FY2024
  • $6,663,764FY2025
  • $7,295,975FY2026

CEO total pay was $7,295,975 in fiscal 2026, up from $6,663,764 in fiscal 2025.

FY2026: salary $1,063,000 · bonus $0 · stock awards $4,711,847 · option awards $0

Executives and directors

Frequently asked questions

Who was the highest-paid executive at LA-Z-BOY in fiscal 2026?
As disclosed, Melinda Whittington (Board Chair, President and Chief Executive Officer) was the highest-paid executive at LA-Z-BOY in fiscal 2026, with total compensation of $7,295,975.
How does LA-Z-BOY's chief executive pay compare to its disclosed peer group?
As disclosed, Melinda Whittington's total compensation ranked at the 56th percentile of LA-Z-BOY's disclosed peer group.
What is LA-Z-BOY's CEO-to-median employee pay ratio?
As disclosed, LA-Z-BOY's CEO-to-median employee pay ratio was 184:1.
How did shareholders vote on LA-Z-BOY's executive compensation?
As disclosed, 97.72% of shareholders supported LA-Z-BOY's executive compensation in the latest say-on-pay vote.
How much does LA-Z-BOY spend in total on board compensation for fiscal 2026?
As disclosed, LA-Z-BOY reported total board compensation of $2,356,127 for fiscal 2026.

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.

Full detail

Every table from the filing. Open any section.

Summary compensation table
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 FY2025→2026
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.

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
Equity grants and outstanding awards

Grants of plan-based awards — fiscal year 2026

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Robert Sundy IIRSU2025-06-23——8,444—$323,067
Robert Sundy IIPSU2025-06-237048,444—16,888373,774
Michael LeggettPSU2025-06-236157,384—14,768326,853
Melinda WhittingtonRSU2025-06-23——57,096—2,184,493
Taylor LuebkeRSU2025-06-23——10,063—385,010
Terrence LinzPSU2025-06-236788,138—16,276360,229
Taylor LuebkePSU2025-06-2383910,063—20,126445,430
Melinda WhittingtonPSU2025-06-234,75857,096—114,1922,527,354
Terrence LinzRSU2025-06-23——8,138—311,360
Michael LeggettRSU2025-06-23——7,384—282,512

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%
Melinda Whittington2,184,4932,527,354053.6%
Taylor Luebke385,010445,430053.6%
Terrence Linz311,360360,229053.6%

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

Outstanding equity awards at fiscal year-end 2026

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Taylor LuebkePSU2,883—$102,058
Terrence LinzOption3,17824.41—
Robert Sundy IIOption3,18924.41—
Michael LeggettOption3,95824.41—
Terrence LinzPSU4,346—153,848
Michael LeggettPSU4,372—154,769
Robert Sundy IIPSU4,495—159,123
Taylor LuebkeRSU17,022—602,579
Michael LeggettRSU18,667—660,812
Terrence LinzRSU18,840—666,936
Robert Sundy IIRSU19,462—688,955
Taylor LuebkePSU19,726—698,300
Michael LeggettPSU21,852—773,561
Terrence LinzPSU22,544—798,058
Robert Sundy IIPSU23,344—826,378
Melinda WhittingtonOption25,31824.41—
Melinda WhittingtonPSU31,397—1,111,454
Melinda WhittingtonRSU133,262—4,717,475
Melinda WhittingtonPSU161,058—5,701,453
Director compensation
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 · Audit127,500135,015——29,395291,910
Lauren B. PetersIndependent · Audit (Chair)125,000135,015——20,664280,679
Rebecca L. O'GradyIndependent · Compensation and Talent Oversight (Chair)120,000135,015——12,073267,088
Mark S. LaVigneIndependent · Lead Independent Director · Compensation and Talent Oversight116,821135,015——3,375255,211
Erika L. AlexanderIndependent · Compensation and Talent Oversight · Nominating and Governance105,000135,015——5,627245,642
Matthew H. BaerIndependent · Nominating and Governance105,000135,015——4,760244,775
Raza S. HaiderIndependent · Audit105,000135,015——3,375243,390
William C. BoorIndependent · Audit41,94396,182——592138,717
Sarah M. GallagherIndependent · Not standing for re-election · Departed during FY33,6680——4,11637,784
James P. HackettIndependent · Not standing for re-election · Departed during FY33,6680——97634,644
Melinda D. WhittingtonEmployee director · Board Chair—————0

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

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.

Peer group, and who names LA-Z-BOY as a peer

Companies that benchmark against LZB

12 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.

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.

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.

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
1Somnigroup International Inc.2025Scott Thompson$1,203,000$8,000,028$24,896,663$1,542,848$45,872,369
2Wolverine World Wide, Inc.2025Christopher Hufnagel1,192,3085,800,02302,663,85410,854,729
3Steelcase Inc.2025Sara Armbruster1,031,2506,254,26602,434,37310,173,889
4HNI Corporation2025Jeffrey Lorenger1,056,7405,092,31601,787,4048,218,947
5LA-Z-BOY2026Melinda Whittington1,063,0004,711,84701,261,7197,295,975
6MillerKnoll, Inc.2026Andi Owen1,121,5384,174,0910709,5136,139,932
7The Aaron's Company, Inc.2023Douglas Lindsay850,0003,121,800647,8231,146,3005,779,365
8Interface, Inc.2025Laurel Hurd930,0002,821,99901,769,3255,651,488
9Helen of Troy Limited2026G. Scott Uzzell550,0003,250,0000107,7524,433,124
10Ethan Allen Interiors Inc.2026M. Farooq Kathwari1,150,0501,518,0020531,3003,253,570
—Beyond, Inc.——————not in coverage universe
—Sleep Number Corporation——————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.

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.not disclosednot disclosednot disclosednot disclosed
Ethan Allen Interiors Inc.not disclosednot disclosednot disclosednot disclosed
Helen of Troy Limited16.3%PRSU 60 · RSU 40NoFW Cook
HNI Corporation140%PSU 50 · RSU 50NoExequity LLP
Interface, Inc.152.2%PSU 50 · RSU 50NoPearl Meyer & Partners
MillerKnoll, Inc.not disclosedPSU 50 · RSU 50Yes — Relative TSRPay Governance LLC
Sleep Number Corporationnot disclosednot disclosednot disclosedFrederic W. Cook & Co., Inc. (FW Cook)
Somnigroup International Inc.not disclosedPRSU 50 · RSU 50not disclosedPearl Meyer & Partners, LLC
Steelcase Inc.192%PSU 60 · RSU 40Yes — rTSRCompensation Advisory Partners (CAP)
The Aaron's Company, Inc.not disclosedPSU 50 · RSU 30 · Option 20not disclosedExequity
Wolverine World Wide, Inc.172.4%PSU 70 · RSU 30Yes — Absolute TSRFrederic 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.

Say-on-pay history and pay ratio
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.

CEO pay ratio

Ratio (CEO : median employee)184 : 1
CEO total compensation$7,295,975
Median employee compensation$39,555
Insider trades since the proxy

No insider equity transactions reported since the proxy statement.

Sources (52 citations)

Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.

  • Section 01, Melinda Whittington. DEF 14A, filed 2026-07-15. Section “Executive Compensation Tables” · page 53. As printed: 7,295,975. View filing ↗
  • Section 01, Taylor Luebke. DEF 14A, filed 2026-07-15. Section “Executive Compensation Tables” · page 53. As printed: 1,701,024. View filing ↗
  • Section 01, Robert Sundy II. DEF 14A, filed 2026-07-15. Section “Executive Compensation Tables” · page 53. As printed: 1,599,576. View filing ↗
  • Section 01, Terrence Linz. DEF 14A, filed 2026-07-15. Section “Executive Compensation Tables” · page 53. As printed: 1,535,574. View filing ↗
  • Section 01, Michael Leggett. DEF 14A, filed 2026-07-15. Section “Executive Compensation Tables” · page 53. As printed: 1,467,722. View filing ↗
  • Section 03, Robert Sundy II RSU. DEF 14A, filed 2026-07-15. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Robert Sundy II PSU. DEF 14A, filed 2026-07-15. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Michael Leggett PSU. DEF 14A, filed 2026-07-15. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Melinda Whittington RSU. DEF 14A, filed 2026-07-15. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Taylor Luebke RSU. DEF 14A, filed 2026-07-15. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Terrence Linz PSU. DEF 14A, filed 2026-07-15. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Taylor Luebke PSU. DEF 14A, filed 2026-07-15. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Melinda Whittington PSU. DEF 14A, filed 2026-07-15. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Terrence Linz RSU. DEF 14A, filed 2026-07-15. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Michael Leggett RSU. DEF 14A, filed 2026-07-15. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 07, pay ratio. DEF 14A, filed 2026-07-15. Section “CEO Pay Ratio”. As printed: 184 : 1. View filing ↗
  • Section 08, Janet E. Kerr. DEF 14A, filed 2026-07-15. Section “Director Compensation”. As printed: 316,287. View filing ↗
  • Section 08, Michael T. Lawton. DEF 14A, filed 2026-07-15. Section “Director Compensation”. As printed: 291,910. View filing ↗
  • Section 08, Lauren B. Peters. DEF 14A, filed 2026-07-15. Section “Director Compensation”. As printed: 280,679. View filing ↗
  • Section 08, Rebecca L. O'Grady. DEF 14A, filed 2026-07-15. Section “Director Compensation”. As printed: 267,088. View filing ↗
  • Section 08, Mark S. LaVigne. DEF 14A, filed 2026-07-15. Section “Director Compensation”. As printed: 255,211. View filing ↗
  • Section 08, Erika L. Alexander. DEF 14A, filed 2026-07-15. Section “Director Compensation”. As printed: 245,642. View filing ↗
  • Section 08, Matthew H. Baer. DEF 14A, filed 2026-07-15. Section “Director Compensation”. As printed: 244,775. View filing ↗
  • Section 08, Raza S. Haider. DEF 14A, filed 2026-07-15. Section “Director Compensation”. As printed: 243,390. View filing ↗
  • Section 08, William C. Boor. DEF 14A, filed 2026-07-15. Section “Director Compensation”. As printed: 138,717. View filing ↗
  • Section 08, Sarah M. Gallagher. DEF 14A, filed 2026-07-15. Section “Director Compensation”. As printed: 37,784. View filing ↗
  • Section 08, James P. Hackett. DEF 14A, filed 2026-07-15. Section “Director Compensation”. As printed: 34,644. View filing ↗
  • Section 08, Melinda D. Whittington. DEF 14A, filed 2026-07-15. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 06, 2026 vote. Form 8-K, filed 2026-08-26. Item 5.07 · say-on-pay result. As reported: 97.72% (votes for as printed: 34,505,041). View filing ↗
  • Section 06, 2025 vote. Form 8-K, filed 2025-08-27. Item 5.07 · say-on-pay result. As reported: 93.31% (votes for as printed: 34,279,537). View filing ↗
  • Section 06, 2024 vote. Form 8-K, filed 2024-08-28. Item 5.07 · say-on-pay result. As reported: 96.79% (votes for as printed: 35,751,445). View filing ↗
  • Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
  • Section 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).
  • Section 09b board cost (computed). Computed. Cash 1,033,600 + equity 1,176,302 + all other 146,225 = 2,356,127, summed across the director compensation table rows.
  • Somnigroup International Inc., Section 10b CEO total. DEF 14A, filed 2026-03-31. CEO total compensation as printed in Somnigroup International Inc.'s own proxy. As printed: 45,872,369. View filing ↗
  • Wolverine World Wide, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-25. CEO total compensation as printed in Wolverine World Wide, Inc.'s own proxy. As printed: 10,854,729. View filing ↗
  • Steelcase Inc., Section 10b CEO total. DEF 14A, filed 2025-05-28. CEO total compensation as printed in Steelcase Inc.'s own proxy. As printed: 10,173,889. View filing ↗
  • HNI Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-25. CEO total compensation as printed in HNI Corporation's own proxy. As printed: 8,218,947. View filing ↗
  • LA-Z-BOY (subject), Section 10b CEO total. DEF 14A, filed 2026-07-15. CEO total compensation as printed in LA-Z-BOY's own proxy. As printed: 7,295,975. View filing ↗
  • MillerKnoll, Inc., Section 10b CEO total. DEF 14A, filed 2026-08-28. CEO total compensation as printed in MillerKnoll, Inc.'s own proxy. As printed: 6,139,932. View filing ↗
  • The Aaron's Company, Inc., Section 10b CEO total. DEF 14A, filed 2024-03-21. CEO total compensation as printed in The Aaron's Company, Inc.'s own proxy. As printed: 5,779,365. View filing ↗
  • Interface, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-01. CEO total compensation as printed in Interface, Inc.'s own proxy. As printed: 5,651,488. View filing ↗
  • Helen of Troy Limited, Section 10b CEO total. DEF 14A, filed 2026-06-24. CEO total compensation as printed in Helen of Troy Limited's own proxy. As printed: 4,433,124. View filing ↗
  • Ethan Allen Interiors Inc., Section 10b CEO total. DEF 14A, filed 2026-09-24. CEO total compensation as printed in Ethan Allen Interiors Inc.'s own proxy. As printed: 3,253,570. View filing ↗
  • Section 10a, HNI Corporation reciprocity. DEF 14A. HNI Corporation names LA-Z-BOY in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Ethan Allen Interiors Inc. reciprocity. DEF 14A. Ethan Allen Interiors Inc. names LA-Z-BOY in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Wolverine World Wide, Inc. reciprocity. DEF 14A. Wolverine World Wide, Inc.'s most recent proxy was read; its disclosed peer group does not include LA-Z-BOY. View filing ↗
  • Section 10a, The Aaron's Company, Inc. reciprocity. DEF 14A. The Aaron's Company, Inc. names LA-Z-BOY in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, MillerKnoll, Inc. reciprocity. DEF 14A. MillerKnoll, Inc. names LA-Z-BOY in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Somnigroup International Inc. reciprocity. DEF 14A. Somnigroup International Inc.'s most recent proxy was read; its disclosed peer group does not include LA-Z-BOY. View filing ↗
  • Section 10a, Interface, Inc. reciprocity. DEF 14A. Interface, Inc.'s most recent proxy was read; its disclosed peer group does not include LA-Z-BOY. View filing ↗
  • Section 10a, Helen of Troy Limited reciprocity. DEF 14A. Helen of Troy Limited names LA-Z-BOY in its own disclosed peer group (read from its most recent proxy). View filing ↗
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