Companies Mondelez International, Inc.
Mondelez International (MDLZ): executive pay, fiscal 2025
Free brief. Every figure links to the company’s own filing.
Velarion Intel: free for 3 days, no card →Email me Mondelez International, Inc.’s executive pay brief as a PDF
You get it on this page the moment you ask, and a copy by email. Every figure is cited to its filing.
After the PDF, up to three short notes on the deeper reports for this company. Reply “unsubscribe” to any of them, any time.
CEO vs. named peers64th pct.Of 14 peer CEOs
CEO pay, last three years
- $21,018,175FY2023
- $22,304,723FY2024
- $24,516,114FY2025
CEO total pay was $24,516,114 in fiscal 2025, up from $22,304,723 in fiscal 2024.
FY2025: salary $1,624,615 · bonus $0 · stock awards $14,530,359 · option awards $4,401,555
Executives and directors
Dirk Van de Put · CEOGustavo Valle · EVPLuca Zaramella · CFOMartin Renaud · EVPVolker Kuhn · EVPAnindita Mukherjee · Former director (through FY2025)Brian J. McNamara · Independent DirectorCees t Hart · Independent DirectorCharles E. Bunch · Former director (through FY2025)Ertharin Cousin · Independent DirectorJane Hamilton Nielsen · Independent DirectorJorge S. Mesquita · Independent DirectorMichael A. Todman · Independent DirectorNancy McKinstry · Independent DirectorPatrick T. Siewert · Lead Independent DirectorPaula A. Price · Independent Director
Frequently asked questions
Who was the highest-paid executive at Mondelez International, Inc. in fiscal 2025?
As disclosed, Dirk Van de Put (Chair & CEO) was the highest-paid executive at Mondelez International, Inc. in fiscal 2025, with total compensation of $24,516,114.
How does Mondelez International, Inc.'s chief executive pay compare to its disclosed peer group?
As disclosed, Dirk Van de Put's total compensation ranked at the 64th percentile of Mondelez International, Inc.'s disclosed peer group.
What is Mondelez International, Inc.'s CEO-to-median employee pay ratio?
As disclosed, Mondelez International, Inc.'s CEO-to-median employee pay ratio was 645:1.
How did shareholders vote on Mondelez International, Inc.'s executive compensation?
As disclosed, 95.8% of shareholders supported Mondelez International, Inc.'s executive compensation in the latest say-on-pay vote.
How much does Mondelez International, Inc. spend in total on board compensation for fiscal 2025?
As disclosed, Mondelez International, Inc. reported total board compensation of $3,022,482 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.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Dirk Van de Put | $1,624,615 | $0 | $14,530,359 | $4,401,555 | $3,234,000 | $0 | $725,585 | $24,516,114 |
| Chair & CEO | ||||||||
| Luca Zaramella | 1,174,690 | 0 | 5,166,582 | 1,564,983 | 1,528,927 | 0 | 227,589 | 9,662,771 |
| EVP, COO & CFO | ||||||||
| Volker Kuhn | 1,045,913 | 265,342 | 4,114,098 | 1,141,121 | 1,091,648 | 1,104,506 | 20,466 | 8,783,094 |
| EVP & President, Europe | ||||||||
| Gustavo Valle | 841,115 | 0 | 3,419,603 | 1,035,786 | 357,000 | 0 | 129,579 | 5,783,083 |
| EVP & President, North America | ||||||||
| Martin Renaud | 774,846 | 0 | 2,277,187 | 689,724 | 769,300 | 0 | 143,110 | 4,654,167 |
| EVP & Chief Marketing & Sales 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 officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Dirk Van de Put | $24,516,114 | $22,304,723 | $21,018,175 | ↑ +2,211,391 |
| Luca Zaramella | 9,662,771 | 8,487,895 | 7,974,882 | ↑ +1,174,876 |
| Volker Kuhn | 8,783,094 | — | — | — |
| Gustavo Valle | 5,783,083 | 4,372,068 | 4,466,414 | ↑ +1,411,015 |
| Martin Renaud | 4,654,167 | — | — | — |
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
The People and Compensation Committee's philosophy is to set challenging but attainable targets to reward performance, with a significant focus on performance-based compensation to align the interests of Named Executive Officers with those of shareholders.
| CEO STI target (% of salary) | 200% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Gustavo Valle | OPTION | 2025-03-17 | — | — | 82,010 | — | $1,035,786 |
| Martin Renaud | OPTION | 2025-03-17 | — | — | 54,610 | — | 689,724 |
| Volker Kuhn | OPTION | 2025-03-17 | — | — | 90,350 | — | 1,141,121 |
| Volker Kuhn | RSU | 2025-04-01 | — | — | 5,130 | — | 347,045 |
| Dirk Van de Put | OPTION | 2025-03-17 | — | — | 348,500 | — | 4,401,555 |
| Luca Zaramella | OPTION | 2025-03-17 | — | — | 123,910 | — | 1,564,983 |
| Martin Renaud | PSU | 2025-03-17 | 16,385 | 32,770 | — | 65,540 | 2,277,187 |
| Luca Zaramella | PSU | 2025-03-17 | 37,175 | 74,350 | — | 148,700 | 5,166,582 |
| Gustavo Valle | PSU | 2025-03-17 | 24,605 | 49,210 | — | 98,420 | 3,419,603 |
| Volker Kuhn | PSU | 2025-03-17 | 27,105 | 54,210 | — | 108,420 | 3,767,053 |
| Dirk Van de Put | PSU | 2025-03-17 | 104,550 | 209,100 | — | 418,200 | 14,530,359 |
| Van de Put Dirk | PSU | 2025-03-17 | 104,550 | 209,100 | — | 418,200 | 14,530,359 |
| Van de Put Dirk | OPTION | 2025-03-17 | — | — | 348,500 | — | 4,401,555 |
| Valle Gustavo | PSU | 2025-03-17 | 24,605 | 49,210 | — | 98,420 | 3,419,603 |
| Valle Gustavo | OPTION | 2025-03-17 | — | — | 82,010 | — | 1,035,786 |
| Zaramella Luca | PSU | 2025-03-17 | 37,175 | 74,350 | — | 148,700 | 5,166,582 |
| Zaramella Luca | OPTION | 2025-03-17 | — | — | 123,910 | — | 1,564,983 |
| Renaud Martin | PSU | 2025-03-17 | 16,385 | 32,770 | — | 65,540 | 2,277,187 |
| Renaud Martin | OPTION | 2025-03-17 | — | — | 54,610 | — | 689,724 |
| Kuhn Volker | PSU | 2025-03-17 | 27,105 | 54,210 | — | 108,420 | 3,767,053 |
| Kuhn Volker | OPTION | 2025-03-17 | — | — | 90,350 | — | 1,141,121 |
| Kuhn Volker | RSU | 2025-04-01 | — | — | 5,130 | — | 347,045 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Gustavo Valle | $0 | $3,419,603 | $1,035,786 | 76.8% |
| Martin Renaud | 0 | 2,277,187 | 689,724 | 76.8% |
| Volker Kuhn | 347,045 | 3,767,053 | 1,141,121 | 71.7% |
| Dirk Van de Put | 0 | 14,530,359 | 4,401,555 | 76.8% |
| Luca Zaramella | 0 | 5,166,582 | 1,564,983 | 76.8% |
| Van de Put Dirk | 0 | 14,530,359 | 4,401,555 | 76.8% |
| Valle Gustavo | 0 | 3,419,603 | 1,035,786 | 76.8% |
| Zaramella Luca | 0 | 5,166,582 | 1,564,983 | 76.8% |
| Renaud Martin | 0 | 2,277,187 | 689,724 | 76.8% |
| Kuhn Volker | 347,045 | 3,767,053 | 1,141,121 | 71.7% |
% 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 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Volker Kuhn | PSU | 5,130 | — | $276,148 |
| Martin Renaud | PSU | 12,310 | — | 662,647 |
| Martin Renaud | Option | 13,006 | 65.36 | — |
| Gustavo Valle | Option | 14,957 | 65.36 | — |
| Gustavo Valle | PSU | 15,385 | — | 828,175 |
| Luca Zaramella | Option | 22,410 | 43.51 | — |
| Luca Zaramella | Option | 22,570 | 43.2 | — |
| Martin Renaud | Option | 22,990 | 43.51 | — |
| Martin Renaud | Option | 25,410 | 59.04 | — |
| Martin Renaud | Option | 26,200 | 47.72 | — |
| Martin Renaud | Option | 27,491 | 73.13 | — |
| Luca Zaramella | PSU | 28,975 | — | 1,559,724 |
| Luca Zaramella | Option | 29,190 | 42.83 | — |
| Martin Renaud | Option | 30,070 | 56.13 | — |
| Martin Renaud | Option | 30,940 | 64.65 | — |
| Luca Zaramella | Option | 32,515 | 65.36 | — |
| Martin Renaud | PSU | 32,770 | — | 1,764,009 |
| Gustavo Valle | Option | 33,880 | 59.04 | — |
| Gustavo Valle | Option | 34,358 | 73.13 | — |
| Gustavo Valle | Option | 35,640 | 56.13 | — |
| Gustavo Valle | Option | 40,610 | 64.65 | — |
| Gustavo Valle | PSU | 49,210 | — | 2,648,974 |
| Volker Kuhn | PSU | 54,210 | — | 2,918,124 |
| Martin Renaud | Option | 54,610 | 65.09 | — |
| Luca Zaramella | Option | 58,940 | 47.72 | — |
| Luca Zaramella | Option | 64,709 | 73.13 | — |
| Luca Zaramella | Option | 65,640 | 59.04 | — |
| Luca Zaramella | Option | 73,500 | 56.13 | — |
| Luca Zaramella | PSU | 74,350 | — | 4,002,261 |
| Luca Zaramella | Option | 77,340 | 64.65 | — |
| Gustavo Valle | Option | 82,010 | 65.09 | — |
| Dirk Van de Put | PSU | 86,150 | — | 4,637,455 |
| Dirk Van de Put | Option | 87,785 | 65.36 | — |
| Volker Kuhn | Option | 90,350 | 65.09 | — |
| Luca Zaramella | Option | 123,910 | 65.09 | — |
| Dirk Van de Put | Option | 133,580 | 42.11 | — |
| Dirk Van de Put | Option | 192,398 | 73.13 | — |
| Dirk Van de Put | PSU | 209,100 | — | 11,255,853 |
| Dirk Van de Put | Option | 232,020 | 64.65 | — |
| Dirk Van de Put | Option | 232,900 | 59.04 | — |
| Dirk Van de Put | Option | 256,110 | 56.13 | — |
| Dirk Van de Put | Option | 258,570 | 43.51 | — |
| Dirk Van de Put | Option | 273,740 | 47.72 | — |
| Dirk Van de Put | Option | 348,500 | 65.09 | — |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Patrick T. SiewertIndependent · Lead Independent Director · Governance, Membership, and Sustainability (Chair) | $190,852 | $196,367 | $0 | — | $10,000 | $397,219 |
| Jane Hamilton NielsenIndependent · Audit (Chair) · Finance | 144,148 | 196,367 | 0 | — | — | 340,515 |
| Michael A. TodmanIndependent · Governance, Membership, and Sustainability · People and Compensation (Chair) | 140,000 | 196,367 | 0 | — | — | 336,367 |
| Cees t HartIndependent · Finance (Chair) · Audit | 127,198 | 196,367 | 0 | — | — | 323,565 |
| Jorge S. MesquitaIndependent · Audit · Finance | 115,000 | 196,367 | 0 | — | — | 311,367 |
| Brian J. McNamaraIndependent · Governance, Membership, and Sustainability · People and Compensation | 115,000 | 196,367 | 0 | — | — | 311,367 |
| Paula A. PriceIndependent · Audit · Finance | 115,000 | 196,367 | 0 | — | — | 311,367 |
| Ertharin CousinIndependent · Governance, Membership, and Sustainability · People and Compensation | 115,000 | 196,367 | 0 | — | — | 311,367 |
| Nancy McKinstryIndependent · Governance, Membership, and Sustainability · People and Compensation · Newly elected | 70,453 | 196,367 | 0 | — | — | 266,820 |
| Charles E. BunchIndependent · Not standing for re-election · Departed during FY | 52,665 | — | 0 | — | 15,000 | 67,665 |
| Anindita MukherjeeIndependent · Not standing for re-election · Departed during FY | 44,863 | — | 0 | — | — | 44,863 |
| Dirk Van de PutEmployee director · Board Chair | 0 | 0 | 0 | — | 0 | 0 |
Board fee structure and ownership guideline
| Annual cash retainer | $115,000 |
|---|---|
| Annual equity retainer | $200,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 35,000 / 25,000 / 20,000 |
| Stock ownership guideline | $575,000 |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $1,230,179 |
| Equity awards (grant-date value) | $1,767,303 |
| All other compensation | $25,000 |
| Total cost of the board | $3,022,482 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Mondelez International as a peer
Companies that benchmark against MDLZ
31 companies name MDLZ as a compensation peer
- Bunge Global SABGFY2025
- CAMPBELL'S CoCPBFY2026
- CHURCH & DWIGHT CO INC /DE/CHDFY2025
- COCA COLA COKOFY2025
- COLGATE PALMOLIVE COCLFY2025
- CONAGRA BRANDS INC.CAGFY2026
- DOW INC.DOWFY2025
- ESTEE LAUDER COMPANIES INCELFY2026
- FLOWERS FOODS INCFLOFY2025
- GENERAL MILLS INCGISFY2026
- HERSHEY COHSYFY2025
- Kenvue Inc.KVUEFY2026
- KIMBERLY CLARK CORPKMBFY2025
- Kraft Heinz CoKHCFY2025
- MCDONALDS CORPMCDFY2025
- Monster Beverage CorpMNSTFY2025
- NIKE, Inc.NKEFY2026
- PEPSICO INCPEPFY2025
- Performance Food Group CoPFGCFY2026
- Philip Morris International Inc.PMFY2025
- Smurfit Westrock plcSWFY2025
- STARBUCKS CORPSBUXFY2025
- TARGET CORPTGTFY2025
- TJX COMPANIES INC /DE/TJXFY2026
- TYSON FOODS, INC.TSNFY2025
- Walgreens Boots Alliance, Inc.WBAFY2024
- YUM BRANDS INCYUMFY2025
Each company listed discloses MDLZ 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 MDLZ 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 2025
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
GIS General Mills Inc.PM Philip Morris International, Inc.MMM 3M CompanyKO The Coca-Cola CompanyCL Colgate-Palmolive CompanyEL The Estee Lauder Companies Inc.JNJ Johnson & JohnsonKHC The Kraft Heinz CompanyKMB Kimberly-Clark CorporationMCD McDonald's CorporationNKE Nike, Inc.PEP PepsiCo, Inc.PG The Procter & Gamble CompanySBUX Starbucks Corporation
Peer reciprocity
Of the companies Mondelez International, Inc. 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.
✓ General Mills Inc. (GIS)83✓ Philip Morris International, Inc. (PM)84— 3M Company (MMM)85✓ The Coca-Cola Company (KO)86 Colgate-Palmolive Company (CL)✓ The Estee Lauder Companies Inc. (EL)87— Johnson & Johnson (JNJ)88✓ The Kraft Heinz Company (KHC)89 Kimberly-Clark Corporation (KMB) McDonald's Corporation (MCD)✓ Nike, Inc. (NKE)90 PepsiCo, Inc. (PEP)— The Procter & Gamble Company (PG)91✓ Starbucks Corporation (SBUX)92
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 Mondelez International, Inc..
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.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Nike, Inc. | 2026 | Elliott Hill | $1,500,000 | $28,137,798 | $3,967,113 | $2,220,000 | $36,340,876 |
| 2 | Johnson & Johnson | 2025 | Joaquin Duato | 1,600,000 | 15,028,948 | 5,927,995 | 4,298,700 | 32,758,111 |
| 3 | The Coca-Cola Company | 2025 | James Quincey | 1,675,000 | 12,516,109 | 10,352,255 | 5,025,000 | 31,208,165 |
| 4 | Starbucks Corporation | 2025 | Brian Niccol | 1,599,998 | 19,881,585 | 0 | 1,971,000 | 30,992,773 |
| 5 | Philip Morris International, Inc. | 2025 | Jacek Olczak | 1,809,737 | 18,033,564 | 0 | 5,217,391 | 29,072,171 |
| 6 | Mondelez International, Inc. | 2025 | Dirk Van de Put | 1,624,615 | 14,530,359 | 4,401,555 | 3,234,000 | 24,516,114 |
| 7 | PepsiCo, Inc. | 2025 | Ramon Laguarta | 1,804,615 | 11,550,008 | 0 | 5,771,000 | 23,903,545 |
| 8 | 3M Company | 2025 | William Brown | 1,800,000 | 7,753,852 | 7,001,242 | 3,745,322 | 21,005,009 |
| 9 | The Estee Lauder Companies Inc. | 2026 | Stéphane Faverie | 1,500,000 | 8,396,680 | 6,325,072 | 4,105,300 | 20,585,784 |
| 10 | McDonald's Corporation | 2025 | Christopher Kempczinski | 1,550,000 | 8,000,215 | 8,000,066 | 2,367,160 | 20,574,525 |
| 11 | The Procter & Gamble Company | 2026 | Shailesh Jejurikar | 1,387,500 | 11,035,209 | 3,500,010 | 0 | 18,976,742 |
| 12 | Colgate-Palmolive Company | 2025 | Noel Wallace | 1,500,000 | 8,005,152 | 3,570,016 | 2,455,950 | 16,478,196 |
| 13 | Kimberly-Clark Corporation | 2025 | Michael Hsu | 1,500,000 | 11,499,989 | 0 | 1,596,424 | 15,320,405 |
| 14 | General Mills Inc. | 2026 | Jeffrey Harmening | 1,350,000 | 7,326,405 | 2,279,973 | 1,404,540 | 14,018,052 |
| 15 | The Kraft Heinz Company | 2025 | Carlos Abrams-Rivera | 1,100,000 | 8,102,609 | 0 | 1,520,310 | 10,748,810 |
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
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Mondelez International, Inc. | 91% | PSU 75 · Option 25 | No | not disclosed |
| 3M Company | 118.9% | PSU 50 · Options 50 | No | FW Cook |
| Colgate-Palmolive Company | 93.6% | PSU 50 · Options 30 · RSU 20 | No | FW Cook |
| General Mills Inc. | 58% | PSU 50 · RSU 25 · Option 25 | Yes — Relative TSR Modifier | FW Cook |
| Johnson & Johnson | not disclosed | not disclosed | Yes — Relative TSR | Semler Brossy Consulting Group |
| Kimberly-Clark Corporation | 61% | PSU 60 · RSU 40 | No | Semler Brossy Consulting Group |
| McDonald's Corporation | not disclosed | PRSU 50 · Option 50 | No | Semler Brossy Consulting Group LLC |
| Nike, Inc. | 74% | PSU 50 · Option 25 · RSU 25 | Yes — Relative TSR | not disclosed |
| PepsiCo, Inc. | not disclosed | not disclosed | Yes — Relative TSR Performance | FW Cook |
| Philip Morris International, Inc. | 138% | PSU 60 · RSU 40 | Yes — TSR (Total Shareholder Return) | Frederic W. Cook & Co. |
| Starbucks Corporation | not disclosed | PRSU 60 · RSU 40 | Yes — Relative TSR | Pay Governance |
| The Coca-Cola Company | 150% | PSU 50 · Options 50 | Yes — Relative TSR modifier | Meridian Compensation Partners, LLC |
| The Estee Lauder Companies Inc. | not disclosed | Options 60 · RSU 40 | not disclosed | Semler Brossy Consulting Group, LLC |
| The Kraft Heinz Company | 46.07% | PSU 70 · RSU 30 | Yes — 3-year average annual Company Total Shareholder Return (TSR) performance relative to the performance peer group | Meridian Compensation Partners LLC |
| The Procter & Gamble Company | not disclosed | PSU 50 · RSU 25 · Option 25 | Yes — Relative TSR Multiplier | Meridian Compensation Partners, LLC |
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 year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-20 | 990,330,206 | 43,420,217 | 5,156,652 | 95.8% | Passed |
| 2025 | 2025-05-21 | 947,436,509 | 58,212,361 | 6,233,255 | 94.21% | Passed |
| 2024 | 2024-05-22 | 982,114,750 | 64,064,931 | 4,679,353 | 93.88% | Passed |
| 2023 | 2023-05-17 | 953,946,419 | 92,984,258 | 23,860,930 | 91.12% | Passed |
| 2022 | 2022-05-18 | 968,623,775 | 66,962,400 | 31,176,953 | 93.53% | Passed |
| 2021 | 2021-05-19 | 953,142,575 | 76,742,343 | 37,893,538 | 92.55% | 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 year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2026 | 2026-05-20 | 95.8%a |
| 2025 | 2025-05-21 | 94.21%b |
| 2024 | 2024-05-22 | 93.88%c |
a. Approved under the standard stated in the filing — “What vote is needed to approve the other proposals? Approval of each of Item 2 (Advisory Vote to Approve Executive Compensation), Item 3 (Ratification of the Selection of the Independent Registered Public Accountants), and Items 4 and 5 (Shareholder Proposals) also require a majority of votes cast -- i.e., more votes FOR than AGAINST.”.
b. Approved under the standard stated in the filing — “Abstentions and broker non‑votes (described in Question 15 below) are not considered votes cast and will have no effect on the vote outcome for Items 2, 3, 5, 6, 7, 8 and 9.”.
c. Approved under the standard stated in the filing — “Abstentions and broker non-votes (described in Question 15 below) are not considered votes cast and will have no effect on the vote outcome for Items 2, 3, 5, 6, 7 and 8.”.
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) | 645 : 1 |
|---|---|
| CEO total compensation | $24,516,114 |
| Median employee compensation | $38,024 |
Insider trades since the proxy
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.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Brian Stevens | SVP, CTR & Chief Accoun Off | 2026-04-30 | A | 20 | $0 | $0 | Common | Form 4 ↗ |
| Brian Stevens | SVP, CTR & Chief Accoun Off | 2026-04-30 | D | 20 | 0 | 0 | Common | Form 4 ↗ |
| Brian Stevens | SVP, CTR & Chief Accoun Off | 2026-04-30 | D | 63 | 61 | 3,872 | Common | Form 4 ↗ |
| Brian Stevens | SVP, CTR & Chief Accoun Off | 2026-05-01 | D | 1 | 62 | 62 | Common | Form 4 ↗ |
| Patrick T. Siewert | Director | 2026-05-20 | A | 3,525 | 0 | 0 | Common | Form 4 ↗ |
| Ertharin Cousin | Director | 2026-05-20 | A | 3,525 | 0 | 0 | Common | Form 4 ↗ |
| Jorge S. Mesquita | Director | 2026-05-20 | A | 3,525 | 0 | 0 | Common | Form 4 ↗ |
| Brian J. McNamara | Director | 2026-05-20 | A | 3,525 | 0 | 0 | Common | Form 4 ↗ |
| 't Hart Cees | Director | 2026-05-20 | A | 3,525 | 0 | 0 | Common | Form 4 ↗ |
| Nancy McKinstry | Director | 2026-05-20 | A | 3,525 | 0 | 0 | Common | Form 4 ↗ |
| Jane Hamilton Nielsen | Director | 2026-05-20 | A | 3,525 | 0 | 0 | Common | Form 4 ↗ |
| Michael A. Todman | Director | 2026-05-20 | A | 3,525 | 0 | 0 | Common | Form 4 ↗ |
| Paula A. Price | Director | 2026-05-20 | A | 3,525 | 0 | 0 | Common | Form 4 ↗ |
| Amit Banati | EVP and CFO | 2026-07-01 | A | 122,210 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Amit Banati | EVP and CFO | 2026-07-01 | A | 20,370 | 0 | 0 | Common | Form 4 ↗ |
| Van de Put Dirk | Director | 2026-08-19 | D | 133,580 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Van de Put Dirk | Director | 2026-08-19 | D | 133,580 | 64 | 8,559,806 | Common | Form 4 ↗ |
| Van de Put Dirk | Director | 2026-08-19 | A | 133,580 | 42 | 5,625,054 | Common | Form 4 ↗ |
| Luca Zaramella | EVP & Chief Operating Officer | 2026-09-02 | D | 18,695 | 62 | 1,167,503 | Common | Form 4 ↗ |
| Luca Zaramella | EVP & Chief Operating Officer | 2026-09-02 | D | 22,570 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Luca Zaramella | EVP & Chief Operating Officer | 2026-09-02 | A | 22,570 | 43 | 975,024 | Common | Form 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.
Sources (92 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, Dirk Van de Put. DEF 14A, filed 2026-04-03. Section “Summary Compensation Table” · page 85. As printed: 24,516,114. View filing ↗
- Section 01, Luca Zaramella. DEF 14A, filed 2026-04-03. Section “Summary Compensation Table” · page 85. As printed: 9,662,771. View filing ↗
- Section 01, Volker Kuhn. DEF 14A, filed 2026-04-03. Section “Summary Compensation Table” · page 85. As printed: 8,783,094. View filing ↗
- Section 01, Gustavo Valle. DEF 14A, filed 2026-04-03. Section “Summary Compensation Table” · page 85. As printed: 5,783,083. View filing ↗
- Section 01, Martin Renaud. DEF 14A, filed 2026-04-03. Section “Summary Compensation Table” · page 85. As printed: 4,654,167. View filing ↗
- Section 03, Gustavo Valle OPTION. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Martin Renaud OPTION. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Volker Kuhn OPTION. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Volker Kuhn RSU. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Dirk Van de Put OPTION. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Luca Zaramella OPTION. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Martin Renaud PSU. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Luca Zaramella PSU. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Gustavo Valle PSU. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Volker Kuhn PSU. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Dirk Van de Put PSU. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Van de Put Dirk PSU. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Van de Put Dirk OPTION. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Valle Gustavo PSU. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Valle Gustavo OPTION. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Zaramella Luca PSU. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Zaramella Luca OPTION. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Renaud Martin PSU. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Renaud Martin OPTION. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Kuhn Volker PSU. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Kuhn Volker OPTION. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Kuhn Volker RSU. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-04-03. Section “CEO Pay Ratio”. As printed: 645 : 1. View filing ↗
- Section 08, Patrick T. Siewert. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 397,219. View filing ↗
- Section 08, Jane Hamilton Nielsen. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 340,515. View filing ↗
- Section 08, Michael A. Todman. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 336,367. View filing ↗
- Section 08, Cees t Hart. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 323,565. View filing ↗
- Section 08, Jorge S. Mesquita. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 311,367. View filing ↗
- Section 08, Brian J. McNamara. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 311,367. View filing ↗
- Section 08, Paula A. Price. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 311,367. View filing ↗
- Section 08, Ertharin Cousin. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 311,367. View filing ↗
- Section 08, Nancy McKinstry. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 266,820. View filing ↗
- Section 08, Charles E. Bunch. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 67,665. View filing ↗
- Section 08, Anindita Mukherjee. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 44,863. View filing ↗
- Section 08, Dirk Van de Put. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 02, Brian Stevens 2026-04-30. Form 4, filed 2026-05-04. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Brian Stevens 2026-04-30. Form 4, filed 2026-05-04. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Brian Stevens 2026-04-30. Form 4, filed 2026-05-04. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Brian Stevens 2026-05-01. Form 4, filed 2026-05-04. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Patrick T. Siewert 2026-05-20. Form 4, filed 2026-05-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Ertharin Cousin 2026-05-20. Form 4, filed 2026-05-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Jorge S. Mesquita 2026-05-20. Form 4, filed 2026-05-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Brian J. McNamara 2026-05-20. Form 4, filed 2026-05-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, 't Hart Cees 2026-05-20. Form 4, filed 2026-05-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Nancy McKinstry 2026-05-20. Form 4, filed 2026-05-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Jane Hamilton Nielsen 2026-05-20. Form 4, filed 2026-05-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Michael A. Todman 2026-05-20. Form 4, filed 2026-05-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Paula A. Price 2026-05-20. Form 4, filed 2026-05-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Amit Banati 2026-07-01. Form 4, filed 2026-07-02. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Amit Banati 2026-07-01. Form 4, filed 2026-07-02. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Van de Put Dirk 2026-08-19. Form 4, filed 2026-08-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Van de Put Dirk 2026-08-19. Form 4, filed 2026-08-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Van de Put Dirk 2026-08-19. Form 4, filed 2026-08-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Luca Zaramella 2026-09-02. Form 4, filed 2026-09-04. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Luca Zaramella 2026-09-02. Form 4, filed 2026-09-04. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Luca Zaramella 2026-09-02. Form 4, filed 2026-09-04. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-05-26. Item 5.07 · say-on-pay result. As reported: 95.8% (votes for as printed: 990,330,206). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-05-27. Item 5.07 · say-on-pay result. As reported: 94.21% (votes for as printed: 947,436,509). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-05-22. Item 5.07 · say-on-pay result. As reported: 93.88% (votes for as printed: 982,114,750). 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 1,230,179 + equity 1,767,303 + all other 25,000 = 3,022,482, summed across the director compensation table rows.
- Nike, Inc., Section 10b CEO total. DEF 14A, filed 2026-07-15. CEO total compensation as printed in Nike, Inc.'s own proxy. As printed: 36,340,876. View filing ↗
- Johnson & Johnson, Section 10b CEO total. DEF 14A, filed 2026-03-11. CEO total compensation as printed in Johnson & Johnson's own proxy. As printed: 32,758,111. View filing ↗
- The Coca-Cola Company, Section 10b CEO total. DEF 14A, filed 2026-03-16. CEO total compensation as printed in The Coca-Cola Company's own proxy. As printed: 31,208,165. View filing ↗
- Starbucks Corporation, Section 10b CEO total. DEF 14A, filed 2026-01-26. CEO total compensation as printed in Starbucks Corporation's own proxy. As printed: 30,992,773. View filing ↗
- Philip Morris International, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-26. CEO total compensation as printed in Philip Morris International, Inc.'s own proxy. As printed: 29,072,171. View filing ↗
- Mondelez International, Inc. (subject), Section 10b CEO total. DEF 14A, filed 2026-04-03. CEO total compensation as printed in Mondelez International, Inc.'s own proxy. As printed: 24,516,114. View filing ↗
- PepsiCo, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-27. CEO total compensation as printed in PepsiCo, Inc.'s own proxy. As printed: 23,903,545. View filing ↗
- 3M Company, Section 10b CEO total. DEF 14A, filed 2026-03-25. CEO total compensation as printed in 3M Company's own proxy. As printed: 21,005,009. View filing ↗
- The Estee Lauder Companies Inc., Section 10b CEO total. DEF 14A, filed 2026-09-30. CEO total compensation as printed in The Estee Lauder Companies Inc.'s own proxy. As printed: 20,585,784. View filing ↗
- McDonald's Corporation, Section 10b CEO total. DEF 14A, filed 2026-04-07. CEO total compensation as printed in McDonald's Corporation's own proxy. As printed: 20,574,525. View filing ↗
- The Procter & Gamble Company, Section 10b CEO total. DEF 14A, filed 2026-08-28. CEO total compensation as printed in The Procter & Gamble Company's own proxy. As printed: 18,976,742. View filing ↗
- Colgate-Palmolive Company, Section 10b CEO total. DEF 14A, filed 2026-03-25. CEO total compensation as printed in Colgate-Palmolive Company's own proxy. As printed: 16,478,196. View filing ↗
- Kimberly-Clark Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-23. CEO total compensation as printed in Kimberly-Clark Corporation's own proxy. As printed: 15,320,405. View filing ↗
- General Mills Inc., Section 10b CEO total. DEF 14A, filed 2026-08-13. CEO total compensation as printed in General Mills Inc.'s own proxy. As printed: 14,018,052. View filing ↗
- The Kraft Heinz Company, Section 10b CEO total. DEF 14A, filed 2026-04-03. CEO total compensation as printed in The Kraft Heinz Company's own proxy. As printed: 10,748,810. View filing ↗
- Section 10a, General Mills Inc. reciprocity. DEF 14A. General Mills Inc. names Mondelez International, Inc. in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Philip Morris International, Inc. reciprocity. DEF 14A. Philip Morris International, Inc. names Mondelez International, Inc. in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, 3M Company reciprocity. DEF 14A. 3M Company's most recent proxy was read; its disclosed peer group does not include Mondelez International, Inc.. View filing ↗
- Section 10a, The Coca-Cola Company reciprocity. DEF 14A. The Coca-Cola Company names Mondelez International, Inc. in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, The Estee Lauder Companies Inc. reciprocity. DEF 14A. The Estee Lauder Companies Inc. names Mondelez International, Inc. in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Johnson & Johnson reciprocity. DEF 14A. Johnson & Johnson's most recent proxy was read; its disclosed peer group does not include Mondelez International, Inc.. View filing ↗
- Section 10a, The Kraft Heinz Company reciprocity. DEF 14A. The Kraft Heinz Company names Mondelez International, Inc. in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Nike, Inc. reciprocity. DEF 14A. Nike, Inc. names Mondelez International, Inc. in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, The Procter & Gamble Company reciprocity. DEF 14A. The Procter & Gamble Company's most recent proxy was read; its disclosed peer group does not include Mondelez International, Inc.. View filing ↗
- Section 10a, Starbucks Corporation reciprocity. DEF 14A. Starbucks Corporation names Mondelez International, Inc. in its own disclosed peer group (read from its most recent proxy). View filing ↗