Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-09-17

Mcgrath Rentcorp (MGRC)

CEO Philip Hawkins was paid $1,718,813 in fiscal year 2025, ↑ up 16.4% from fiscal year 2024, the 1st percentile of its disclosed peer group (SEC filing 0001193125-26-177073 ↗): 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.

$6,519,633
Joseph Hanna total, FY2025
Former President and Chief Executive Officer — highest-paid officer; CEO Philip Hawkins: $1,718,813
1st
CEO (Philip Hawkins) pay percentile vs peers
—
CEO-to-median pay ratio
96.64%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Philip Hawkins (President and Chief Executive Officer), FY2025 total compensation $1,718,813 (base salary $500,000) [exec_comp, SEC accession 0001193125-26-177073, filed 2026-04-24]

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MGRC's next annual pay disclosure, estimated April 26, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Joseph Hanna$875,000$0$4,301,228$0$1,118,862$0$224,543$6,519,633
Former President and Chief Executive Officer
Keith Pratt540,00002,350,2860415,108071,0983,376,492
Executive Vice President, Chief Financial Officer and Assistant Corporate Secretary
Philip Hawkins500,0000801,2340374,872042,7071,718,813
President and Chief Executive Officer
Gilda Malek455,0000801,2340291,473026,4371,574,144
Senior Vice President, Chief Legal Officer and Corporate Secretary
Kristina Van Trease380,0000399,3460290,973035,3461,105,665
Senior Vice President, Chief Strategy 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 officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Joseph Hanna$6,519,633$5,477,843$4,771,958↑ +1,041,790
Keith Pratt3,376,4922,098,3101,739,503↑ +1,278,182
Philip Hawkins1,718,8131,476,3981,197,943↑ +242,415
Gilda Malek1,574,1441,228,290947,548↑ +345,854
Kristina Van Trease1,105,665995,0021,115,000↑ +110,663

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 MGRC
7 companies name MGRC as a compensation peer

Each company listed discloses MGRC 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 MGRC in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

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
Philip HawkinsCEO$1,718,813
Joseph HannaExecutive$6,519,633
Keith PrattCFO$3,376,492
Kristina Van TreaseExecutive$1,105,665
Gilda MalekGeneral Counsel$1,574,144
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
Bradley M. ShusterChair of the Board$300,180
Kimberly A. BoxIndependent Director$246,180
Nicolas C. AndersonIndependent Director$229,680
Smita ConjeevaramIndependent Director$237,180
William J. DawsonIndependent Director$244,680
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 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Gilda MalekPSU2025-02-211,5753,1503,1506,300$801,234
Kristina Van TreasePSU2025-02-217851,5701,5703,140399,345
Joseph HannaPSU2025-02-218,45516,91016,91033,8204,301,228
Keith PrattPSU2025-02-214,6209,2409,24018,4802,350,286
Philip HawkinsPSU2025-02-211,5753,1503,1506,300801,234
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Gilda Malek$0$801,234$0100.0%
Kristina Van Trease0399,3450100.0%
Joseph Hanna04,301,2280100.0%
Keith Pratt02,350,2860100.0%
Philip Hawkins0801,2340100.0%

% 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
Joseph HannaPSU16,910—$1,774,366
Keith PrattRSU9,240—969,553
Joseph HannaRSU17,614—1,848,237
Joseph HannaRSU16,910—1,774,366
Joseph HannaPSU16,310—1,711,408
Gilda MalekRSU1,570—164,740
Keith PrattPSU9,240—969,553
Keith PrattRSU6,141—644,375
Keith PrattPSU3,600—377,748
Joseph HannaRSU3,197—335,461
Philip HawkinsRSU3,150—330,530
Philip HawkinsPSU3,150—330,530
Gilda MalekRSU3,150—330,530
Gilda MalekPSU3,150—330,530
Gilda MalekPSU1,570—164,740
Philip HawkinsRSU2,667—279,848
Gilda MalekRSU2,667—279,848
Philip HawkinsPSU1,970—206,712
Gilda MalekRSU1,867—195,904
Gilda MalekPSU1,530—160,543
Gilda MalekRSU1,431—150,155
Keith PrattRSU1,201—126,021
Philip HawkinsRSU657—68,939
Gilda MalekRSU511—53,619
05

Incentive-plan design — the Compensation Discussion & Analysis

The Company's executive compensation program is designed to attract and retain exceptional talent and reward performance by establishing measurable objectives to drive future performance, aligning executive officers' interests with those of shareholders. The program focuses on rewarding the achievement of specific annual, long-term, and strategic goals that contribute to increased long-term shareholder value, with a significant percentage of total compensation allocated to 'at-risk' performance-based incentives.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantSemler Brossy
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-0319,503,243392,629285,04896.64%Passed
20252025-06-0420,167,710690,47235,71596.52%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
20262026-06-0396.64%a
20252025-06-0496.52%b

a. Approved under the standard stated in the filing — “Abstentions will have the same effect as a vote against this proposal and broker "non-votes," if any, will have no effect on this proposal.”.

b. Approved under the standard stated in the filing — “Abstentions will have the same effect as a vote against this proposal and broker "non-votes," if any, will have no effect on this proposal.”.

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.

08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Bradley M. ShusterIndependent · Board Chair · Compensation · Corporate Governance and Nominating$173,000$127,180———$300,180
Kimberly A. BoxIndependent · Compensation (Chair) · Audit · Corporate Governance and Nominating119,000127,180———246,180
William J. DawsonIndependent · Audit (Chair) · Compensation117,500127,180———244,680
Smita ConjeevaramIndependent · Corporate Governance and Nominating (Chair) · Audit110,000127,180———237,180
Nicolas C. AndersonIndependent · Audit · Compensation · Corporate Governance and Nominating102,500127,180———229,680
Joseph F. HannaEmployee director—————0
09

Board fee structure and ownership guideline

Annual cash retainer$85,000
Annual equity retainer$130,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)25,000 / 18,500 / 15,000
Stock ownership guideline$5,000
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$622,000
Equity awards (grant-date value)$635,900
All other compensation$0
Total cost of the board$1,257,900

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 Mcgrath Rentcorp 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 Mcgrath Rentcorp.

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
1Willis Lease Finance2025Austin Willis$850,662$14,637,060$0$0$19,209,005
2Mercury Systems2026William Ballhaus1,049,2698,099,08701,946,16011,131,048
3Kratos Defense & Security Solutions, Inc.2025Eric DeMarco1,000,0008,244,00001,500,00010,832,739
4Air Lease Corporation2025John Plueger1,000,0005,313,82902,820,0009,399,534
5Herc Holding Inc.2025Lawrence Silber1,056,5385,500,03701,484,0008,289,126
6Enerpac Tool Group Corporation2025Paul Sternlieb929,4234,520,6340951,3326,548,272
7Harmonic, Inc.2025Nimrod Ben-Natan609,0004,927,5620570,0006,163,092
8Badger Meter, Inc.2025Kenneth Bockhorst880,0003,042,1440—5,932,862
9Cohu, Inc.2025Luis Müller715,0003,508,4930250,3454,498,059
10UniFirst Corporation2025Steven Sintros941,9011,350,196450,011765,2943,738,214
11Custom Truck One Source, Inc.2025Ryan McMonagle850,0001,024,9690495,0402,577,511
12Mcgrath Rentcorp2025Philip Hawkins500,000801,2340374,8721,718,813
—Montrose Environmental Group, Inc.——————not in coverage universe
—Air Transport Services Group, 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
Mcgrath Rentcorpnot disclosedPSU 50 · RSU 50not disclosedSemler Brossy
Air Lease Corporationnot disclosedPRSU 50 · RSU 25not disclosedExequity
Air Transport Services Group, Inc.not disclosednot disclosednot disclosednot disclosed
Badger Meter, Inc.179.8%PSU 80 · RSU 20NoWillis Towers Watson PLC and Zayla
Cohu, Inc.31.8%PSU 60 · RSU 40Yes — TSR performance relative to the Russell 2000 IndexCompensia
Custom Truck One Source, Inc.not disclosednot disclosednot disclosedFarient Advisors, LLC
Enerpac Tool Group Corporation100.7%PSU 60 · RSU 40NoMercer, LLC
Harmonic, Inc.not disclosedRSU 60 · MSU 20 · PSU 20Yes — TSR relative to Nasdaq Telecommunications IndexExequity
Herc Holding Inc.100%PSU 60 · RSU 40NoFW Cook
Kratos Defense & Security Solutions, Inc.not disclosedRSU 50 · PSU 50NoBoard Advisory, LLC
Mercury Systemsnot disclosedPSU 55 · RSU 45Yes — Relative TSRMeridian Compensation Partners, LLC
Montrose Environmental Group, Inc.not disclosednot disclosednot disclosednot disclosed
UniFirst Corporation81.3%not disclosedNoMeridian Compensation Partners
Willis Lease Financenot disclosedPSU 60 · RSU 40not disclosedExequity, LLP

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 Mcgrath Rentcorp in fiscal 2025?
As disclosed, Joseph Hanna (Former President and Chief Executive Officer) was the highest-paid executive at Mcgrath Rentcorp in fiscal 2025, with total compensation of $6,519,633.
How does Mcgrath Rentcorp's chief executive pay compare to its disclosed peer group?
As disclosed, Philip Hawkins's total compensation ranked at the 1st percentile of Mcgrath Rentcorp's disclosed peer group.
How did shareholders vote on Mcgrath Rentcorp's executive compensation?
As disclosed, 96.64% of shareholders supported Mcgrath Rentcorp's executive compensation in the latest say-on-pay vote.
How much does Mcgrath Rentcorp spend in total on board compensation for fiscal 2025?
As disclosed, Mcgrath Rentcorp reported total board compensation of $1,257,900 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 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.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Joseph HannaDEF 14A2026-04-240001193125-26-177073Section “Executive Compensation”. As printed: 6,519,633. View filing ↗
2Section 01, Keith PrattDEF 14A2026-04-240001193125-26-177073Section “Executive Compensation”. As printed: 3,376,492. View filing ↗
3Section 01, Philip HawkinsDEF 14A2026-04-240001193125-26-177073Section “Executive Compensation”. As printed: 1,718,813. View filing ↗
4Section 01, Gilda MalekDEF 14A2026-04-240001193125-26-177073Section “Executive Compensation”. As printed: 1,574,144. View filing ↗
5Section 01, Kristina Van TreaseDEF 14A2026-04-240001193125-26-177073Section “Executive Compensation”. As printed: 1,105,665. View filing ↗
6Section 03, Gilda Malek PSUDEF 14A2026-04-240001193125-26-177073Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
7Section 03, Kristina Van Trease PSUDEF 14A2026-04-240001193125-26-177073Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
8Section 03, Joseph Hanna PSUDEF 14A2026-04-240001193125-26-177073Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
9Section 03, Keith Pratt PSUDEF 14A2026-04-240001193125-26-177073Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
10Section 03, Philip Hawkins PSUDEF 14A2026-04-240001193125-26-177073Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
11Section 08, Bradley M. ShusterDEF 14A2026-04-240001193125-26-177073Section “Director Compensation”. As printed: 300,180. View filing ↗
12Section 08, Kimberly A. BoxDEF 14A2026-04-240001193125-26-177073Section “Director Compensation”. As printed: 246,180. View filing ↗
13Section 08, William J. DawsonDEF 14A2026-04-240001193125-26-177073Section “Director Compensation”. As printed: 244,680. View filing ↗
14Section 08, Smita ConjeevaramDEF 14A2026-04-240001193125-26-177073Section “Director Compensation”. As printed: 237,180. View filing ↗
15Section 08, Nicolas C. AndersonDEF 14A2026-04-240001193125-26-177073Section “Director Compensation”. As printed: 229,680. View filing ↗
16Section 08, Joseph F. HannaDEF 14A2026-04-240001193125-26-177073Section “Director Compensation”. As printed: 0. View filing ↗
17Section 06, 2026 voteForm 8-K2026-06-050001193125-26-259523Item 5.07 · say-on-pay result. As reported: 96.64% (votes for as printed: 19,503,243). View filing ↗
18Section 06, 2025 voteForm 8-K2025-06-050001193125-25-135867Item 5.07 · say-on-pay result. As reported: 96.52% (votes for as printed: 20,167,710). View filing ↗
19Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.
20Section 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).
21Section 09b board cost (computed)Computed——Cash 622,000 + equity 635,900 + all other 0 = 1,257,900, summed across the director compensation table rows.
22Willis Lease Finance, Section 10b CEO totalDEF 14A2026-04-240001193125-26-177136CEO total compensation as printed in Willis Lease Finance's own proxy. As printed: 19,209,005. View filing ↗
23Mercury Systems, Section 10b CEO totalDEF 14A2026-09-170001049521-26-000077CEO total compensation as printed in Mercury Systems's own proxy. As printed: 11,131,048. View filing ↗
24Kratos Defense & Security Solutions, Inc., Section 10b CEO totalDEF 14A2026-04-020001069258-26-000040CEO total compensation as printed in Kratos Defense & Security Solutions, Inc.'s own proxy. As printed: 10,832,739. View filing ↗
25Air Lease Corporation, Section 10b CEO totalDEF 14A2026-04-300001193125-26-197721CEO total compensation as printed in Air Lease Corporation's own proxy. As printed: 9,399,534. View filing ↗
26Herc Holding Inc., Section 10b CEO totalDEF 14A2026-03-270001364479-26-000076CEO total compensation as printed in Herc Holding Inc.'s own proxy. As printed: 8,289,126. View filing ↗
27Enerpac Tool Group Corporation, Section 10b CEO totalDEF 14A2025-12-220001140361-25-046276CEO total compensation as printed in Enerpac Tool Group Corporation's own proxy. As printed: 6,548,272. View filing ↗
28Harmonic, Inc., Section 10b CEO totalDEF 14A2026-04-240001140361-26-016701CEO total compensation as printed in Harmonic, Inc.'s own proxy. As printed: 6,163,092. View filing ↗
29Badger Meter, Inc., Section 10b CEO totalDEF 14A2026-03-130001193125-26-106185CEO total compensation as printed in Badger Meter, Inc.'s own proxy. As printed: 5,932,862. View filing ↗
30Cohu, Inc., Section 10b CEO totalDEF 14A2026-04-020001437749-26-010960CEO total compensation as printed in Cohu, Inc.'s own proxy. As printed: 4,498,059. View filing ↗
31UniFirst Corporation, Section 10b CEO totalDEF 14A2025-11-240001193125-25-293727CEO total compensation as printed in UniFirst Corporation's own proxy. As printed: 3,738,214. View filing ↗
32Custom Truck One Source, Inc., Section 10b CEO totalDEF 14A2026-04-290001709682-26-000030CEO total compensation as printed in Custom Truck One Source, Inc.'s own proxy. As printed: 2,577,511. View filing ↗
33Mcgrath Rentcorp (subject), Section 10b CEO totalDEF 14A2026-04-240001193125-26-177073CEO total compensation as printed in Mcgrath Rentcorp's own proxy. As printed: 1,718,813. View filing ↗
34Section 10a, Willis Lease Finance reciprocityDEF 14A—0001193125-26-177136Willis Lease Finance's most recent proxy was read; its disclosed peer group does not include Mcgrath Rentcorp. View filing ↗
35Section 10a, Air Lease Corporation reciprocityDEF 14A—0001193125-26-197721Air Lease Corporation's most recent proxy was read; its disclosed peer group does not include Mcgrath Rentcorp. View filing ↗
36Section 10a, Badger Meter, Inc. reciprocityDEF 14A—0001193125-26-106185Badger Meter, Inc.'s most recent proxy was read; its disclosed peer group does not include Mcgrath Rentcorp. View filing ↗
37Section 10a, UniFirst Corporation reciprocityDEF 14A—0001193125-25-293727UniFirst Corporation's most recent proxy was read; its disclosed peer group does not include Mcgrath Rentcorp. View filing ↗
38Section 10a, Mercury Systems reciprocityDEF 14A—0001049521-26-000077Mercury Systems's most recent proxy was read; its disclosed peer group does not include Mcgrath Rentcorp. View filing ↗
39Section 10a, Cohu, Inc. reciprocityDEF 14A—0001437749-26-010960Cohu, Inc.'s most recent proxy was read; its disclosed peer group does not include Mcgrath Rentcorp. View filing ↗
40Section 10a, Harmonic, Inc. reciprocityDEF 14A—0001140361-26-016701Harmonic, Inc.'s most recent proxy was read; its disclosed peer group does not include Mcgrath Rentcorp. View filing ↗
41Section 10a, Custom Truck One Source, Inc. reciprocityDEF 14A—0001709682-26-000030Custom Truck One Source, Inc. names Mcgrath Rentcorp in its own disclosed peer group (read from its most recent proxy). View filing ↗
42Section 10a, Herc Holding Inc. reciprocityDEF 14A—0001364479-26-000076Herc Holding Inc. names Mcgrath Rentcorp in its own disclosed peer group (read from its most recent proxy). View filing ↗
43Section 10a, Kratos Defense & Security Solutions, Inc. reciprocityDEF 14A—0001069258-26-000040Kratos Defense & Security Solutions, Inc.'s most recent proxy was read; its disclosed peer group does not include Mcgrath Rentcorp. View filing ↗