Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-09-25

Callaway Golf (MODG)

CEO Oliver Brewer was paid $13,970,138 in fiscal year 2025: 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.

$13,970,138
Oliver Brewer total, FY2025
73rd
CEO pay percentile vs peers
629:1
CEO-to-median pay ratio
—
Say-on-pay support, latest vote

The Pay Desk — the free weekly executive pay briefing, one company at a time, every number traceable to a public filing.

You'll confirm on The Pay Desk's sign-up page.

Buy the report for MODG

The free brief above is the whole reading. Each report is the same data as a presentation-ready document, generated for this company at the moment of purchase.

Executive Compensation ReportExecutive pay, the peers the company names, and the votes it faces.$1,500 →Board Governance ReportBoard composition, committees and director pay, read from the same filings.$499 →Complete Intelligence BundleBoth reports for one company, delivered separately.$2,400 →
MODGon Velarion Intel, free → The platform reading of this company, beside the same data as a subscription.

Order MODG

Pick the report, add the email the receipt and the PDF go to, and pay by card on Stripe.

Receipt, invoice, and report delivery. Guest checkout, no account required, secure payment by Stripe.

How we handle your data → Privacy

Companies that benchmark against MODG
3 companies name MODG as a compensation peer

Each company listed discloses MODG 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 MODG 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 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Oliver Brewer$1,100,000$0$9,517,219$0$3,300,000$0$52,919$13,970,138
President and Chief Executive Officer
Brian Lynch650,00002,237,45201,300,000042,3954,229,847
Executive Vice President, Chief Financial Officer and Chief Legal Officer
Rebecca Fine484,00001,022,4050629,2000819,3062,954,911
Former Executive Vice President and Chief People Officer
Mark Leposky536,00001,509,4790804,000023,3272,872,806
Executive Vice President and Chief Supply Chain Officer
Glenn Hickey536,00001,509,4790719,178021,9262,786,583
Executive Vice President and President, Callaway Golf Sales

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
Oliver Brewer$13,970,138$9,378,565$11,105,846+4,591,573
Brian Lynch4,229,8472,456,6812,952,988+1,773,166
Rebecca Fine2,954,911———
Mark Leposky2,872,8061,833,3732,051,113+1,039,433
Glenn Hickey2,786,5831,735,6992,051,822+1,050,884

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.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Mark LeposkyRSU37,879—$442,048
Rebecca FineRSU51,137—596,769
Oliver BrewerRSU125,000—1,458,750
Glenn HickeyRSU37,879—442,048
Glenn HickeyRSU68,182—795,684
Oliver BrewerRSU443,182—5,171,934
Oliver BrewerRSU32,304—376,988
Oliver BrewerRSU9,332—108,904
Oliver BrewerRSU541,667—6,321,254
Oliver BrewerRSU349,965—4,084,092
Oliver BrewerRSU216,451—2,525,983
Oliver BrewerRSU202,199—2,359,662
Oliver BrewerRSU102,273—1,193,526
Mark LeposkyRSU83,334—972,508
Glenn HickeyRSU83,334—972,508
Oliver BrewerRSU77,770—907,576
Mark LeposkyRSU68,182—795,684
Rebecca FineRSU62,500—729,375
Oliver BrewerRSU59,225—691,156
Oliver BrewerRSU54,113—631,499
Mark LeposkyRSU21,536—251,325
Mark LeposkyRSU39,484—460,778
Glenn HickeyRSU39,484—460,778
Oliver BrewerRSU34,219—399,336
Rebecca FineRSU29,613—345,584
Mark LeposkyRSU22,813—266,228
Glenn HickeyRSU22,813—266,228
Oliver BrewerRSU22,466—262,178
Glenn HickeyRSU21,536—251,325
Rebecca FineRSU17,317—202,089
Rebecca FineRSU16,152—188,494
Rebecca FineRSU15,969—186,358
Mark LeposkyRSU6,243—72,856
Mark LeposkyRSU6,221—72,599
Glenn HickeyRSU6,221—72,599
Rebecca FineRSU4,355—50,823
07

CEO pay ratio

Ratio (CEO : median employee)629 : 1
CEO total compensation—
Median employee compensation$22,217
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
John F. LundgrenIndependent · Board Chair · Audit Committee · Compensation Committee · Nominating and Corporate Governance Committee$150,000$118,880$0$0$0$268,880
Russell L. FleischerIndependent · Audit Committee (Chair) · Compensation Committee115,000118,880000233,880
Linda B. SegreIndependent · Compensation Committee (Chair) · Nominating and Corporate Governance Committee112,500118,880000231,380
Adebayo O. OgunlesiIndependent · Audit Committee · Nominating and Corporate Governance Committee (Chair)110,000118,880000228,880
Anthony S. ThornleyIndependent · Audit Committee · Nominating and Corporate Governance Committee100,000118,880000218,880
Bavan M. HollowayIndependent · Audit Committee100,000118,880000218,880
Erik J AndersonIndependent · Not standing for re-election100,000118,880000218,880
Varsha R. RaoIndependent · Compensation Committee · Not standing for re-election100,000118,880000218,880
C. Matthew TurneyIndependent · Departed during FY92,120118,880000211,000
Scott M. MarimowIndependent · Departed during FY65,218118,880000184,098
Laura J. FlanaganIndependent · Not standing for re-election40,935000040,935
Oliver G. (Chip) Brewer IIIEmployee director—————0
Mark D. MandelIndependent · Newly elected——————
Thomas G. DundonIndependent · Newly elected——————
09

Board fee structure and ownership guideline

Annual cash retainer$100,000
Annual equity retainer$125,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)15,000 / 12,500 / 10,000
Stock ownership guidelineFor more information regarding the stock ownership guidelines applicable to non-employee members of the Board, see “Board of Directors and Corporate Governance — Stock Ownership Guidelines,” above.
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,085,773
Equity awards (grant-date value)$1,188,800
All other compensation$0
Total cost of the board$2,274,573

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 Callaway Golf 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 Callaway Golf.

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
1Darden Restaurants, Inc.2026Ricardo Cardenas$1,325,000$25,879,154$2,380,093$4,107,501$34,815,979
2Electronic Arts, Inc.2025Andrew Wilson1,300,00025,710,91002,840,06730,529,835
3Lululemon Athletica Inc.2025Calvin McDonald1,393,2697,800,00113,800,030994,79424,023,294
4Peloton Interactive, Inc.2025Peter Stern615,38510,792,3785,000,000018,236,835
5Callaway Golf2025Oliver Brewer1,100,0009,517,21903,300,00013,970,138
6Brunswick Corporation2025David Foulkes1,250,5779,750,02601,876,00013,020,607
7Deckers Outdoor Corporation2026Stefano Caroti1,236,5386,999,94703,607,91511,904,992
8Under Armour, Inc.2026Kevin Plank903,4629,040,000510,0001,128,15011,597,975
9Polaris, Inc.2025Michael Speetzen1,216,5623,292,7843,661,0112,719,74711,144,637
10Texas Roadhouse, Inc.2025Gerald Morgan1,356,5388,410,9280909,41310,822,133
11Brinker International, Inc.2026Kevin Hochman1,061,7317,049,88302,543,61610,679,756
12Acushnet Holdings Corp.2025David Maher1,170,0006,500,07201,501,22710,635,556
13Yum! Brands, Inc.2025Chris Turner1,020,2884,651,7631,400,0321,842,8629,130,462
14Bloomin’ Brands, Inc.2025Michael Spanos1,000,0003,333,33701,155,0005,495,861
15Vail Resorts, Inc.2025Robert Katz1,123,5881,405,6931,405,69303,952,230
16Columbia Sportswear Company2025Timothy Boyle1,080,000001,938,7203,036,220

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
Callaway Golfnot disclosednot disclosednot disclosednot disclosed
Acushnet Holdings Corp.not disclosedPSU 60 · RSU 40not disclosedPearl Meyer
Bloomin’ Brands, Inc.66%PSU 67 · RSU 33NoFW Cook
Brinker International, Inc.not disclosedPSU 60 · RSU 40not disclosedPearl Meyer & Partners
Brunswick Corporationnot disclosednot disclosednot disclosedFW Cook
Columbia Sportswear Company57%not disclosedYes — three year relative total shareholder return (Relative TSR)FW Cook
Darden Restaurants, Inc.155%PSU 50 · Options 25 · RSU 25Yes — Relative TSRPearl Meyer
Deckers Outdoor Corporation173%PSU 60 · RSU 40Yes — Total Stockholder Return (TSR)Frederic W. Cook & Co., Inc.
Electronic Arts, Inc.87.4%PSU 60 · RSU 40Yes — Absolute TSRSemler Brossy
Lululemon Athletica Inc.35.7%not disclosedNoWTW (Willis Towers Watson)
Peloton Interactive, Inc.not disclosedRSU 50 · PSU 25 · Options 25NoCompensia and F.W. Cook
Polaris, Inc.not disclosedOption 50 · RSU 50not disclosedAon
Texas Roadhouse, Inc.not disclosednot disclosednot disclosedFW Cook
Under Armour, Inc.60%RSU 100NoWillis Towers Watson
Vail Resorts, Inc.92%RSU 50 · Options 50not disclosedAon
Yum! Brands, Inc.not disclosedPSU 50 · SAR 25 · RSU 25not disclosedMeridian 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.

FAQ

Frequently asked questions

Who was the highest-paid executive at Callaway Golf in fiscal 2025?
Oliver Brewer, President and Chief Executive Officer, was the highest-paid executive at Callaway Golf in fiscal 2025 with total compensation of $13,970,138.
How does Callaway Golf's chief executive pay compare to its disclosed peer group?
The filing shows the chief executive's pay ranked in the 73rd percentile of the disclosed peer group.
What is Callaway Golf's CEO-to-median employee pay ratio?
As disclosed, the CEO-to-median employee pay ratio was 629:1.
How did shareholders vote on Callaway Golf's executive compensation?
The support level for the latest say-on-pay vote is not disclosed in this filing.
How much does Callaway Golf spend in total on board compensation for fiscal 2025?
The company reported total board compensation of $2,274,573 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Oliver BrewerDEF 14A2026-04-080000837465-26-000013Section “Executive Compensation”. As printed: 13,970,138. Filing ↗machine: span 747968–747978
2Section 01, Brian LynchDEF 14A2026-04-080000837465-26-000013Section “Executive Compensation”. As printed: 4,229,847. Filing ↗machine: span 765255–765264
3Section 01, Rebecca FineDEF 14A2026-04-080000837465-26-000013Section “Executive Compensation”. As printed: 2,954,911. Filing ↗machine: span 814676–814685
4Section 01, Mark LeposkyDEF 14A2026-04-080000837465-26-000013Section “Executive Compensation”. As printed: 2,872,806. Filing ↗machine: span 782540–782549
5Section 01, Glenn HickeyDEF 14A2026-04-080000837465-26-000013Section “Executive Compensation”. As printed: 2,786,583. Filing ↗machine: span 798907–798916
6Section 07, pay ratioDEF 14A2026-04-080000837465-26-000013Section “CEO Pay Ratio”. As printed: 629 : 1. Filing ↗machine: span 1260157–1260160
7Section 08, John F. LundgrenDEF 14A2026-04-080000837465-26-000013Section “Director Compensation”. As printed: 268,880. Filing ↗machine: span 357981–358107
8Section 08, Russell L. FleischerDEF 14A2026-04-080000837465-26-000013Section “Director Compensation”. As printed: 233,880. Filing ↗machine: span 349194–349320
9Section 08, Linda B. SegreDEF 14A2026-04-080000837465-26-000013Section “Director Compensation”. As printed: 231,380. Filing ↗machine: span 376037–376163
10Section 08, Adebayo O. OgunlesiDEF 14A2026-04-080000837465-26-000013Section “Director Compensation”. As printed: 228,880. Filing ↗machine: span 367070–367196
11Section 08, Anthony S. ThornleyDEF 14A2026-04-080000837465-26-000013Section “Director Compensation”. As printed: 218,880. Filing ↗machine: span 380443–380569
12Section 08, Bavan M. HollowayDEF 14A2026-04-080000837465-26-000013Section “Director Compensation”. As printed: 218,880. Filing ↗machine: span 353588–353714
13Section 08, Erik J AndersonDEF 14A2026-04-080000837465-26-000013Section “Director Compensation”. As printed: 218,880. Filing ↗machine: span 340078–340204
14Section 08, Varsha R. RaoDEF 14A2026-04-080000837465-26-000013Section “Director Compensation”. As printed: 218,880. Filing ↗machine: span 371646–371772
15Section 08, C. Matthew TurneyDEF 14A2026-04-080000837465-26-000013Section “Director Compensation”. As printed: 211,000. Filing ↗machine: span 385524–385650
16Section 08, Scott M. MarimowDEF 14A2026-04-080000837465-26-000013Section “Director Compensation”. As printed: 184,098. Filing ↗machine: span 362481–362607
17Section 08, Laura J. FlanaganDEF 14A2026-04-080000837465-26-000013Section “Director Compensation”. As printed: 40,935. Filing ↗machine: span 341031–341156
18Section 08, Oliver G. (Chip) Brewer IIIDEF 14A2026-04-080000837465-26-000013Section “Director Compensation”. As printed: 0. Filing ↗
19Section 08, Mark D. MandelDEF 14A2026-04-080000837465-26-000013Section “Director Compensation”. As printed: —. Filing ↗
20Section 08, Thomas G. DundonDEF 14A2026-04-080000837465-26-000013Section “Director Compensation”. As printed: —. Filing ↗
21Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
22Section 09b board cost (computed)Computed——Cash 1,085,773 + equity 1,188,800 + all other 0 = 2,274,573, summed across the director compensation table rows.machine: formula: Σ = 2,274,573
23Darden Restaurants, Inc., Section 10b CEO totalDEF 14A2026-08-100001193125-26-342023CEO total compensation as printed in Darden Restaurants, Inc.'s own proxy. As printed: 34,815,979. Filing ↗machine: r4 · c18 · span 1947073–1947083
24Electronic Arts, Inc., Section 10b CEO totalDEF 14A2025-06-240001308179-25-000556CEO total compensation as printed in Electronic Arts, Inc.'s own proxy. As printed: 30,529,835. Filing ↗machine: t128 · r2 · c14 · span 604029–604039
25Lululemon Athletica Inc., Section 10b CEO totalDEF 14A2026-05-180001213900-26-058095CEO total compensation as printed in Lululemon Athletica Inc.'s own proxy. As printed: 24,023,294. Filing ↗machine: t70 · r3 · c8 · span 1864711–1864721
26Peloton Interactive, Inc., Section 10b CEO totalDEF 14A2025-10-240001193125-25-249989CEO total compensation as printed in Peloton Interactive, Inc.'s own proxy. As printed: 18,236,835. Filing ↗machine: span 1053868–1053878
27Callaway Golf (subject), Section 10b CEO totalDEF 14A2026-04-080000837465-26-000013CEO total compensation as printed in Callaway Golf's own proxy. As printed: 13,970,138. Filing ↗machine: span 747968–747978
28Brunswick Corporation, Section 10b CEO totalDEF 14A2026-03-190001104659-26-031610CEO total compensation as printed in Brunswick Corporation's own proxy. As printed: 13,020,607. Filing ↗machine: r2 · c7 · span 612754–612765
29Deckers Outdoor Corporation, Section 10b CEO totalDEF 14A2026-07-240000910521-26-000018CEO total compensation as printed in Deckers Outdoor Corporation's own proxy. As printed: 11,904,992. Filing ↗machine: r3 · c21 · span 866385–866395
30Under Armour, Inc., Section 10b CEO totalDEF 14A2026-07-150001336917-26-000102CEO total compensation as printed in Under Armour, Inc.'s own proxy. As printed: 11,597,975. Filing ↗machine: r2 · c48 · span 595286–595296
31Polaris, Inc., Section 10b CEO totalDEF 14A2026-03-170001308179-26-000087CEO total compensation as printed in Polaris, Inc.'s own proxy. As printed: 11,144,637. Filing ↗machine: r1 · c31 · span 693700–693710
32Texas Roadhouse, Inc., Section 10b CEO totalDEF 14A2026-04-100001104659-26-041771CEO total compensation as printed in Texas Roadhouse, Inc.'s own proxy. As printed: 10,822,133. Filing ↗machine: r3 · c14 · span 1328962–1328972
33Brinker International, Inc., Section 10b CEO totalDEF 14A2026-09-250001193125-26-402857CEO total compensation as printed in Brinker International, Inc.'s own proxy. As printed: 10,679,756. Filing ↗machine: r2 · c39 · span 615898–615908
34Acushnet Holdings Corp., Section 10b CEO totalDEF 14A2026-04-170001672013-26-000106CEO total compensation as printed in Acushnet Holdings Corp.'s own proxy. As printed: 10,635,556. Filing ↗machine: span 960915–960925
35Yum! Brands, Inc., Section 10b CEO totalDEF 14A2026-04-030001193125-26-142078CEO total compensation as printed in Yum! Brands, Inc.'s own proxy. As printed: 9,130,462. Filing ↗machine: r12 · c11 · span 2009186–2009195
36Bloomin’ Brands, Inc., Section 10b CEO totalDEF 14A2026-03-030001546417-26-000015CEO total compensation as printed in Bloomin’ Brands, Inc.'s own proxy. As printed: 5,495,861. Filing ↗machine: span 923483–923492
37Vail Resorts, Inc., Section 10b CEO totalDEF 14A2025-10-300000812011-25-000221CEO total compensation as printed in Vail Resorts, Inc.'s own proxy. As printed: 3,952,230. Filing ↗machine: t169 · r3 · c15 · span 860012–860021
38Columbia Sportswear Company, Section 10b CEO totalDEF 14A2026-04-240001050797-26-000062CEO total compensation as printed in Columbia Sportswear Company's own proxy. As printed: 3,036,220. Filing ↗machine: t61 · r3 · c27 · span 566267–566276
39Section 10a, Darden Restaurants, Inc. reciprocityDEF 14A—0000950170-25-101699Darden Restaurants, Inc.'s most recent proxy was read; its disclosed peer group does not include Callaway Golf. Filing ↗
40Section 10a, Texas Roadhouse, Inc. reciprocityDEF 14A—0001104659-26-041771Texas Roadhouse, Inc.'s most recent proxy was read; its disclosed peer group does not include Callaway Golf. Filing ↗
41Section 10a, Electronic Arts, Inc. reciprocityDEF 14A—0001308179-25-000556Electronic Arts, Inc.'s most recent proxy was read; its disclosed peer group does not include Callaway Golf. Filing ↗
42Section 10a, Brunswick Corporation reciprocityDEF 14A—0001104659-26-031610Brunswick Corporation's most recent proxy was read; its disclosed peer group does not include Callaway Golf. Filing ↗
43Section 10a, Peloton Interactive, Inc. reciprocityDEF 14A—0001193125-25-249989Peloton Interactive, Inc.'s most recent proxy was read; its disclosed peer group does not include Callaway Golf. Filing ↗
44Section 10a, Deckers Outdoor Corporation reciprocityDEF 14A—0000910521-26-000018Deckers Outdoor Corporation's most recent proxy was read; its disclosed peer group does not include Callaway Golf. Filing ↗
45Section 10a, Polaris, Inc. reciprocityDEF 14A—0001308179-26-000087Polaris, Inc.'s most recent proxy was read; its disclosed peer group does not include Callaway Golf. Filing ↗
46Section 10a, Under Armour, Inc. reciprocityDEF 14A—0001336917-26-000102Under Armour, Inc.'s most recent proxy was read; its disclosed peer group does not include Callaway Golf. Filing ↗
47Section 10a, Yum! Brands, Inc. reciprocityDEF 14A—0001193125-26-142078Yum! Brands, Inc.'s most recent proxy was read; its disclosed peer group does not include Callaway Golf. Filing ↗
48Section 10a, Acushnet Holdings Corp. reciprocityDEF 14A—0001672013-26-000106Acushnet Holdings Corp.'s most recent proxy was read; its disclosed peer group does not include Callaway Golf. Filing ↗
49Section 10a, Bloomin’ Brands, Inc. reciprocityDEF 14A—0001546417-26-000015Bloomin’ Brands, Inc.'s most recent proxy was read; its disclosed peer group does not include Callaway Golf. Filing ↗
50Section 10a, Brinker International, Inc. reciprocityDEF 14A—0001193125-26-402857Brinker International, Inc.'s most recent proxy was read; its disclosed peer group does not include Callaway Golf. Filing ↗
51Section 10a, Vail Resorts, Inc. reciprocityDEF 14A—0000812011-25-000221Vail Resorts, Inc.'s most recent proxy was read; its disclosed peer group does not include Callaway Golf. Filing ↗

Track this company's pay every filing: join the Pro seat waitlist

Velarion Pro: every company page, peer tools and exports, one seat

A confirmation now and one email when Pro opens, and nothing else. Privacy