Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-05-07

Natures Sunshine Products (NATR)

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.

$3,863,880
Ken Romanzi total, FY2025
20th
CEO pay percentile vs peers
CEO-to-median pay ratio
93.54%
Say-on-pay support, latest vote
Companies that benchmark against NATR
2 companies name NATR as a compensation peer

Each company listed discloses NATR 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 NATR 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
Ken Romanzi$107,885$0$3,600,562$0$147,836$0$7,597$3,863,880
President and Chief Executive Officer
Terrence Moorehead726,40001,820,1590995,568042,8593,584,986
Former President and Chief Executive Officer
Shane Jones474,4370727,9940462,779017,5611,682,771
Executive Vice President, Chief Financial Officer
Dan Norman441,6730613,6730350,117015,3551,420,818
Executive Vice President, President Asia

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 FY20242025
Ken Romanzi$3,863,880
Terrence Moorehead3,584,9862,856,5263,521,879+728,460
Shane Jones1,682,7711,220,5161,523,071+462,255
Dan Norman1,420,8181,095,212+325,606

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Ken RomanziRSU2025-11-04102,881$1,500,004
Shane JonesPRSU2025-03-108,231141,332
Shane JonesRSU2025-03-1019,474287,047
Shane JonesPRSU2025-03-109,737143,523
Terrence MooreheadRSU2025-03-1049,389727,994
Terrence MooreheadPRSU2025-03-1024,695364,004
Terrence MooreheadPRSU2025-03-1020,877364,014
Dan NormanPRSU2025-03-107,039122,737
Dan NormanPRSU2025-03-108,326122,725
Dan NormanRSU2025-03-1016,651245,436
Ken RomanziPRSU2025-11-0451,440749,997
Ken RomanziPRSU2025-11-0447,262749,999
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Ken Romanzi$1,500,004$0$00.0%
Shane Jones287,047000.0%
Terrence Moorehead727,994000.0%
Dan Norman245,436000.0%

% 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
Terrence MooreheadRSU257,906$5,565,611
Terrence MooreheadPSU49,3891,065,815
RomanziRSU148,0533,194,984
RomanziPSU102,8812,220,172
Terrence MooreheadPSU99,2662,142,161
Terrence MooreheadPSU93,0062,007,069
RomanziPSU70,8931,529,871
RomanziPSU77,1601,665,113
Dan NormanPSU30,298653,831
Dan NormanRSU72,2031,558,141
Shane JonesRSU62,9801,359,107
Terrence MooreheadPSU54,3141,172,096
Terrence MooreheadPSU42,227911,259
Shane JonesPSU38,154823,363
Terrence MooreheadPSU37,043799,388
Terrence MooreheadPSU31,316675,799
Terrence MooreheadPSU28,152607,520
Dan NormanPSU23,251501,757
Shane JonesPSU19,474420,249
Terrence MooreheadPSU21,725468,826
Shane JonesPSU20,018431,988
Dan NormanPSU16,651359,329
Shane JonesPSU16,009345,474
Shane JonesPSU14,606315,197
Dan NormanPSU13,578293,013
Dan NormanPSU12,489269,513
Shane JonesPSU12,347266,448
Dan NormanPSU12,326265,995
Shane JonesPSU10,673230,323
Dan NormanPSU10,559227,863
Dan NormanPSU8,216177,301
Shane JonesPSU8,007172,791
Dan NormanPSU5,431117,201
05

Incentive-plan design — the Compensation Discussion & Analysis

The Company's compensation program is designed to reward executives under a pay-for-performance philosophy, align with shareholder value creation, and maintain a level of compensation that allows the Company to attract and retain its executive team. The program links a substantial portion of compensation to financial performance or stock price performance and balances long-term equity compensation with short-term cash compensation.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantF.W. Cook
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-0611,288,205779,0561,864,05393.54%Passed
20252025-04-3010,386,113412,2001,795,74196.18%Passed
20242024-05-0110,834,9931,349,3214,68488.93%Passed
20232023-05-039,136,827547,3771,917,75294.35%Passed
20222022-05-049,853,008335,19728,38796.71%Passed
20212021-05-0511,053,33356,6445,76099.49%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
20262026-05-0693.54%a
20252025-04-3096.18%b
20242024-05-0188.93%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.

08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Heidi WissmillerIndependent · Board Chair · Audit · Governance$117,500$100,000$0$217,500
Katie MayIndependent · Compensation · Governance · Newly elected71,042125,0000196,042
Robert StrausIndependent · Audit · Compensation (Chair)92,833100,0000192,833
Tess RoeringIndependent · Compensation · Risk Management (Chair)84,167100,000367184,534
Curtis KopfIndependent · Governance (Chair) · Risk Management82,500100,0000182,500
Rong YangIndependent · Audit · Risk Management80,000100,000219180,219
Steven FaschingIndependent · Audit (Chair) · Compensation71,042100,000261171,303
Rick MossIndependent · Not standing for re-election · Departed during FY45,833075046,583
Christopher TeetsIndependent · Not standing for re-election · Departed during FY31,6670031,667
Kenneth RomanziEmployee director · Newly elected0
09

Board fee structure and ownership guideline

Annual cash retainer$65,000
Annual equity retainer$100,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)25,000 / 19,500 / 12,500
Stock ownership guideline$3
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$676,584
Equity awards (grant-date value)$725,000
All other compensation$1,597
Total cost of the board$1,403,181

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 Natures Sunshine Products 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 Natures Sunshine Products.

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
1BellRing Brands2025Darcy Horn Davenport$950,025$4,400,000$0$1,055,715$6,563,539
2Land's End2025Andrew McLean1,100,0002,841,49101,416,2505,914,780
3USANA Health Sciences2025Jim Brown821,2313,147,0200339,1684,339,625
4Honest Company2025Carla Vernón773,4623,139,1660219,8004,145,946
5Natures Sunshine Products2025Ken Romanzi107,8853,600,5620147,8363,863,880
6Lifetime Brands2025Robert Kay962,5002,021,07603,038,451
PetMed Expressnot in coverage universe
SpartanNash Company2025Tony Sarsamnot 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
Natures Sunshine Productsnot disclosedRSU 50 · PRSU 50not disclosedF.W. Cook
BellRing Brandsnot disclosednot disclosednot disclosednot disclosed
Honest Company28%RSU 100not disclosedSemler Brossy
Land's End103%PSU 60 · RSU 40NoFrederic W. Cook & Co., Inc.
Lifetime Brandsnot disclosedRSU 50 · PSU 50not disclosedPearl Meyer & Partners, LLC
PetMed Expressnot disclosednot disclosednot disclosednot disclosed
SpartanNash Companynot disclosednot disclosednot disclosednot disclosed
USANA Health Sciences14.6% of base salary for most NEOs; 41.3% for Jim Brown (CEO); 15% for Brent Neidig (whose bonus excluded the Hiya segment)%not disclosedYes — Positive absolute Total Shareholder Return (TSR)CODA

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

11

Source register

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

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Ken RomanziDEF 14A2026-03-270001628280-26-021776Section “SUMMARY COMPENSATION TABLE” · page 35. As printed: 3,863,880. Filing ↗machine: r2 · c24 · span 523883–523892
2Section 01, Terrence MooreheadDEF 14A2026-03-270001628280-26-021776Section “SUMMARY COMPENSATION TABLE” · page 35. As printed: 3,584,986. Filing ↗machine: r5 · c24 · span 533914–533923
3Section 01, Shane JonesDEF 14A2026-03-270001628280-26-021776Section “SUMMARY COMPENSATION TABLE” · page 35. As printed: 1,682,771. Filing ↗machine: r8 · c24 · span 544316–544325
4Section 01, Dan NormanDEF 14A2026-03-270001628280-26-021776Section “SUMMARY COMPENSATION TABLE” · page 35. As printed: 1,420,818. Filing ↗machine: r11 · c24 · span 554304–554313
5Section 03, Ken Romanzi RSUDEF 14A2026-03-270001628280-26-021776Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 467168–467177
6Section 03, Shane Jones PRSUDEF 14A2026-03-270001628280-26-021776Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 475982–475989
7Section 03, Shane Jones RSUDEF 14A2026-03-270001628280-26-021776Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 474162–474169
8Section 03, Shane Jones PRSUDEF 14A2026-03-270001628280-26-021776Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 475072–475079
9Section 03, Terrence Moorehead RSUDEF 14A2026-03-270001628280-26-021776Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 470670–470677
10Section 03, Terrence Moorehead PRSUDEF 14A2026-03-270001628280-26-021776Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 471581–471588
11Section 03, Terrence Moorehead PRSUDEF 14A2026-03-270001628280-26-021776Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 472492–472499
12Section 03, Dan Norman PRSUDEF 14A2026-03-270001628280-26-021776Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 479853–479860
13Section 03, Dan Norman PRSUDEF 14A2026-03-270001628280-26-021776Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 478815–478822
14Section 03, Dan Norman RSUDEF 14A2026-03-270001628280-26-021776Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 477777–477784
15Section 03, Ken Romanzi PRSUDEF 14A2026-03-270001628280-26-021776Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 468081–468088
16Section 03, Ken Romanzi PRSUDEF 14A2026-03-270001628280-26-021776Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 468992–468999
17Section 08, Heidi WissmillerDEF 14A2026-03-270001628280-26-021776Section “Director Compensation”. As printed: 217,500. Filing ↗machine: span 291556–291564
18Section 08, Katie MayDEF 14A2026-03-270001628280-26-021776Section “Director Compensation”. As printed: 196,042. Filing ↗machine: span 283004–283012
19Section 08, Robert StrausDEF 14A2026-03-270001628280-26-021776Section “Director Compensation”. As printed: 192,833. Filing ↗machine: span 288095–288103
20Section 08, Tess RoeringDEF 14A2026-03-270001628280-26-021776Section “Director Compensation”. As printed: 184,534. Filing ↗machine: span 286445–286453
21Section 08, Curtis KopfDEF 14A2026-03-270001628280-26-021776Section “Director Compensation”. As printed: 182,500. Filing ↗machine: span 281358–281366
22Section 08, Rong YangDEF 14A2026-03-270001628280-26-021776Section “Director Compensation”. As printed: 180,219. Filing ↗machine: span 293608–293616
23Section 08, Steven FaschingDEF 14A2026-03-270001628280-26-021776Section “Director Compensation”. As printed: 171,303. Filing ↗machine: span 279710–279718
24Section 08, Rick MossDEF 14A2026-03-270001628280-26-021776Section “Director Compensation”. As printed: 46,583. Filing ↗machine: span 284800–284807
25Section 08, Christopher TeetsDEF 14A2026-03-270001628280-26-021776Section “Director Compensation”. As printed: 31,667. Filing ↗machine: span 288854–288861
26Section 08, Kenneth RomanziDEF 14A2026-03-270001628280-26-021776Section “Director Compensation”. As printed: 0. Filing ↗
27Section 06, 2026 voteForm 8-K2026-05-070001628280-26-032330Item 5.07 · say-on-pay result. As reported: 93.54% (votes for as printed: 11,288,205). Filing ↗
28Section 06, 2025 voteForm 8-K2025-05-060001628280-25-022734Item 5.07 · say-on-pay result. As reported: 96.18% (votes for as printed: 10,386,113). Filing ↗
29Section 06, 2024 voteForm 8-K2024-05-080001628280-24-021241Item 5.07 · say-on-pay result. As reported: 88.93% (votes for as printed: 10,834,993). Filing ↗
30Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
31Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
32Section 09b board cost (computed)ComputedcomputedCash 676,584 + equity 725,000 + all other 1,597 = 1,403,181, summed across the director compensation table rows.machine: formula: Σ = 1,403,181
33BellRing Brands, Section 10b CEO totalDEF 14A2025-12-160001193125-25-320827CEO total compensation as printed in BellRing Brands's own proxy. As printed: 6,563,539. Filing ↗machine: r3 · c35 · span 516110–516119
34Land's End, Section 10b CEO totalDEF 14A2026-03-270001104659-26-036100CEO total compensation as printed in Land's End's own proxy. As printed: 5,914,780. Filing ↗machine: t19 · r1 · c47 · span 511069–511078
35USANA Health Sciences, Section 10b CEO totalDEF 14A2026-04-070000896264-26-000026CEO total compensation as printed in USANA Health Sciences's own proxy. As printed: 4,339,625. Filing ↗machine: span 527796–527806
36Honest Company, Section 10b CEO totalDEF 14A2026-04-090001628280-26-024452CEO total compensation as printed in Honest Company's own proxy. As printed: 4,145,946. Filing ↗machine: r2 · c21 · span 294221–294230
37Natures Sunshine Products (subject), Section 10b CEO totalDEF 14A2026-03-270001628280-26-021776CEO total compensation as printed in Natures Sunshine Products's own proxy. As printed: 3,863,880. Filing ↗machine: r2 · c24 · span 523883–523892
38Lifetime Brands, Section 10b CEO totalDEF 14A2026-04-240001193125-26-177145CEO total compensation as printed in Lifetime Brands's own proxy. As printed: 3,038,451. Filing ↗
39Section 10a, USANA Health Sciences reciprocityDEF 14A0000896264-26-000026USANA Health Sciences's most recent proxy was read; its disclosed peer group does not include Natures Sunshine Products. Filing ↗
40Section 10a, Lifetime Brands reciprocityDEF 14A0001193125-26-177145Lifetime Brands's most recent proxy was read; its disclosed peer group does not include Natures Sunshine Products. Filing ↗
41Section 10a, SpartanNash Company reciprocityDEF 14A0000950170-24-043163SpartanNash Company's most recent proxy was read; its disclosed peer group does not include Natures Sunshine Products. Filing ↗
42Section 10a, Land's End reciprocityDEF 14A0001104659-26-036100Land's End's most recent proxy was read; its disclosed peer group does not include Natures Sunshine Products. Filing ↗