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.
Each company listed discloses NEU 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 NEU in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Thomas Gottwald | $1,275,333 | $0 | $368,188 | $0 | $750,000 | $1,207,391 | $93,767 | $3,694,678 |
| President and Chief Executive Officer | ||||||||
| Bruce Hazelgrove | 579,000 | 0 | 368,188 | 0 | 590,000 | 385,102 | 28,950 | 1,951,240 |
| Executive Vice President and Chief Administrative Officer | ||||||||
| Brian Paliotti | 620,000 | 0 | 368,188 | 0 | 600,000 | 193,923 | 32,000 | 1,814,110 |
| President of Afton Chemical Corporation | ||||||||
| Bryce Jewett | 525,000 | 0 | 368,188 | 0 | 590,000 | 90,066 | 27,250 | 1,600,503 |
| Executive Vice President and General Counsel | ||||||||
| Timothy Fitzgerald | 400,000 | 0 | 167,358 | 0 | 350,000 | 73,565 | 21,000 | 1,011,923 |
| Vice President and Chief Financial 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.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Thomas Gottwald | $3,694,678 | $3,088,406 | $3,195,097 | +606,272 |
| Bruce Hazelgrove | 1,951,240 | 1,793,706 | 1,783,123 | +157,534 |
| Brian Paliotti | 1,814,110 | 1,623,379 | 1,536,300 | +190,731 |
| Bryce Jewett | 1,600,503 | 1,431,683 | 1,224,467 | +168,820 |
| Timothy Fitzgerald | 1,011,923 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
No insider equity transactions reported since the proxy statement.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Timothy Fitzgerald | PSU | 2024-03-05 | 150 | 300 | 300 | 300 | $167,358 |
| Bruce Hazelgrove | PSU | 2025-03-05 | 330 | 660 | 660 | 660 | 368,188 |
| Bryce Jewett | PSU | 2025-03-05 | 330 | 660 | 660 | 660 | 368,188 |
| Brian Paliotti | PSU | 2025-03-05 | 330 | 660 | 660 | 660 | 368,188 |
| Thomas E. Gottwald | PSU | 2025-03-05 | 330 | 660 | 660 | 660 | 368,188 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Timothy Fitzgerald | $0 | $167,358 | $0 | 100.0% |
| Bruce Hazelgrove | 0 | 368,188 | 0 | 100.0% |
| Bryce Jewett | 0 | 368,188 | 0 | 100.0% |
| Brian Paliotti | 0 | 368,188 | 0 | 100.0% |
| Thomas E. Gottwald | 0 | 368,188 | 0 | 100.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Bryce Jewett | RSU | 526 | — | $361,499 |
| Gottwald | RSU | 880 | — | 604,789 |
| Gottwald | RSU | 798 | — | 548,433 |
| Brian Paliotti | RSU | 735 | — | 505,136 |
| Bruce Hazelgrove | RSU | 735 | — | 505,136 |
| Gottwald | RSU | 660 | — | 453,592 |
| Brian Paliotti | RSU | 660 | — | 453,592 |
| Bryce Jewett | RSU | 660 | — | 453,592 |
| Gottwald | PSU | 655 | — | 450,155 |
| Brian Paliotti | RSU | 653 | — | 448,781 |
| Bryce Jewett | RSU | 590 | — | 405,483 |
| Bruce Hazelgrove | RSU | 580 | — | 398,611 |
| Gottwald | RSU | 570 | — | 391,738 |
| Brian Paliotti | PSU | 535 | — | 367,684 |
| Brian Paliotti | RSU | 526 | — | 361,499 |
| Bruce Hazelgrove | RSU | 526 | — | 361,499 |
| Bryce Jewett | RSU | 508 | — | 349,128 |
| Bryce Jewett | PSU | 415 | — | 285,213 |
| Timothy Fitzgerald | RSU | 135 | — | 92,780 |
| Bruce Hazelgrove | RSU | 660 | — | 453,592 |
| Bruce Hazelgrove | PSU | 475 | — | 326,449 |
| Timothy Fitzgerald | RSU | 116 | — | 79,722 |
The company's compensation program is designed to attract and retain highly qualified executives and to align executive interests with those of shareholders by linking compensation to company performance.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Frederic W. Cook & Co., Inc. |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-04-23 | 8,002,241 | 226,974 | 9,124 | 97.24% | Passed |
| 2025 | 2025-04-24 | 7,844,440 | 59,536 | 11,546 | 99.25% | Passed |
| 2024 | 2024-04-25 | 8,305,086 | 126,089 | 15,594 | 98.5% | Passed |
| 2023 | 2023-04-27 | 8,538,881 | 53,424 | 13,542 | 99.38% | Passed |
| 2022 | 2022-04-28 | 8,615,830 | 117,777 | 15,430 | 98.65% | Passed |
| 2020 | 2020-04-23 | 9,429,066 | 61,970 | 14,749 | 99.35% | 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.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-04-23 | 97.24%a |
| 2025 | 2025-04-24 | 99.25%b |
| 2024 | 2024-04-25 | 98.5%c |
a. Approved under the standard stated in the filing — “Abstentions will have no effect on the proposal to ratify the appointment of PricewaterhouseCoopers LLP.”.
b. Approved under the standard stated in the filing — “Abstentions and broker non-votes will have no effect on the say-on-pay advisory proposal.”.
c. Approved under the standard stated in the filing — “Abstentions will have no effect on the proposal to ratify the appointment of PricewaterhouseCoopers LLP.”.
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.
| Ratio (CEO : median employee) | 28 : 1 |
|---|---|
| CEO total compensation | $3,694,678 |
| Median employee compensation | — |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Mark M. GambillIndependent · Lead Independent Director · Nominating/Governance · Executive | $130,000 | $101,605 | — | $0 | $0 | $231,605 |
| Ting XuIndependent · Audit · Compensation | 125,000 | 101,605 | — | 0 | 0 | 226,605 |
| H. Hiter Harris IIIIndependent · Audit · Nominating/Governance | 125,000 | 101,605 | — | 0 | 0 | 226,605 |
| James E. RogersIndependent · Audit · Compensation | 120,000 | 101,605 | — | 0 | 0 | 221,605 |
| Lilo S. UkropIndependent · Compensation · Nominating/Governance | 100,000 | 101,605 | — | 0 | 0 | 201,605 |
| Bruce C. GottwaldNot independent · Departed during FY | 100,000 | 0 | — | 0 | 0 | 100,000 |
| Thomas E. GottwaldEmployee director · Board Chair · Executive | 0 | 0 | — | 0 | 0 | 0 |
| Bruce R. Hazelgrove IIIEmployee director · Executive · Newly elected | 0 | 0 | — | 0 | 0 | 0 |
| Annual cash retainer | $100,000 |
|---|---|
| Annual equity retainer | $125,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | — |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $700,000 |
| Equity awards (grant-date value) | $508,025 |
| All other compensation | $0 |
| Total cost of the board | $1,208,025 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Of the companies Newmarket 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 Newmarket.
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 | Eastman Chemical | 2025 | Mark Costa | $1,406,958 | $12,682,200 | $3,278,151 | $987,000 | $19,498,966 |
| 2 | FMC Corporation | 2025 | Pierre Brondeau | 1,334,125 | 6,257,919 | 2,373,420 | 1,798,261 | 12,038,391 |
| 3 | RPM International Inc. | 2025 | Frank Sullivan | 1,100,000 | 5,494,521 | 2,653,418 | 1,513,000 | 11,158,125 |
| 4 | Celanese | 2025 | Scott Richardson | — | 5,249,958 | 2,249,990 | 1,342,625 | 10,137,072 |
| 5 | Cabot Corporation | 2025 | Sean Keohane | 1,100,000 | 4,224,847 | 2,274,925 | 1,402,501 | 9,307,883 |
| 6 | Ashland Corporation | 2025 | Guillermo Novo | 1,152,332 | 5,233,863 | 0 | 1,313,830 | 7,907,423 |
| 7 | Avient Corporation | 2025 | Ashish Khandpur | 1,128,269 | 3,763,159 | 0 | 753,777 | 5,818,257 |
| 8 | Newmarket | 2025 | Thomas Gottwald | 1,275,333 | 368,188 | 0 | 750,000 | 3,694,678 |
| — | H.B. Fuller Company | — | — | — | — | — | — | not in coverage universe |
| — | Quaker Chemical Corporation | — | — | — | — | — | — | not in coverage universe |
| — | Ingevity Corporation | — | — | — | — | — | — | not in coverage universe |
| — | Innospec Inc. | — | — | — | — | — | — | not in coverage universe |
| — | Minerals Technologies Inc. | — | — | — | — | — | — | not in coverage universe |
| — | Sensient Technologies Corporation | — | — | — | — | — | — | not in coverage universe |
| — | Stepan Company | — | — | — | — | — | — | not in coverage universe |
| — | Valvoline 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.
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Newmarket | not disclosed | PSU 100 | No | Frederic W. Cook & Co., Inc. |
| Ashland Corporation | 90.4% | not disclosed | Yes — Relative Total Shareholder Return (rTSR) | Meridian Compensation Partners |
| Avient Corporation | 51.6% | Cash LTI 60 · RSU 40 | Yes — Total Shareholder Return Relative to Peer Group (rTSR) | Pearl Meyer |
| Cabot Corporation | 90% | PSU 35 · Options 35 · RSU 30 | No | Meridian Compensation Partners |
| Celanese | 93.4% | PSU 70 · Options 30 | No | Willis Towers Watson PLC |
| Eastman Chemical | 47% | PSA 60 · Option 20 · RSU 20 | Yes — Relative total shareholder return (rTSR) | Aon plc |
| FMC Corporation | 89.1% | PSU 50 · Options 30 · RSU 20 | Yes | Aon plc |
| H.B. Fuller Company | not disclosed | not disclosed | not disclosed | not disclosed |
| Ingevity Corporation | not disclosed | not disclosed | not disclosed | not disclosed |
| Innospec Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Minerals Technologies Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Quaker Chemical Corporation | not disclosed | not disclosed | not disclosed | not disclosed |
| RPM International Inc. | 110% | not disclosed | No | Willis Towers Watson |
| Sensient Technologies Corporation | not disclosed | not disclosed | not disclosed | not disclosed |
| Stepan Company | not disclosed | not disclosed | not disclosed | not disclosed |
| Valvoline Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
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.
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.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Thomas Gottwald | DEF 14A | — | — | Section “Executive Compensation”. As printed: 3,694,678. |
| 2 | Section 01, Bruce Hazelgrove | DEF 14A | — | — | Section “Executive Compensation”. As printed: 1,951,240. |
| 3 | Section 01, Brian Paliotti | DEF 14A | — | — | Section “Executive Compensation”. As printed: 1,814,110. |
| 4 | Section 01, Bryce Jewett | DEF 14A | — | — | Section “Executive Compensation”. As printed: 1,600,503. |
| 5 | Section 01, Timothy Fitzgerald | DEF 14A | — | — | Section “Executive Compensation”. As printed: 1,011,923. |
| 6 | Section 03, Timothy Fitzgerald PSU | DEF 14A | 2026-03-12 | 0001193125-26-102973 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t68 · r5 · c15 · span 361690–361697 |
| 7 | Section 03, Bruce Hazelgrove PSU | DEF 14A | 2026-03-12 | 0001193125-26-102973 | Section “ELECTION OF DIRECTORS” · grants of plan-based awards table. Filing ↗machine: t68 · r11 · c15 · span 375409–375416 |
| 8 | Section 03, Bryce Jewett PSU | DEF 14A | 2026-03-12 | 0001193125-26-102973 | Section “ELECTION OF DIRECTORS” · grants of plan-based awards table. Filing ↗machine: t68 · r15 · c15 · span 384875–384882 |
| 9 | Section 03, Brian Paliotti PSU | DEF 14A | 2026-03-12 | 0001193125-26-102973 | Section “ELECTION OF DIRECTORS” · grants of plan-based awards table. Filing ↗machine: t68 · r8 · c15 · span 367629–367636 |
| 10 | Section 03, Thomas E. Gottwald PSU | DEF 14A | 2026-03-12 | 0001193125-26-102973 | Section “ELECTION OF DIRECTORS” · grants of plan-based awards table. Filing ↗machine: t68 · r2 · c15 · span 353901–353908 |
| 11 | Section 07, pay ratio | DEF 14A | 2026-03-12 | 0001193125-26-102973 | Section “CEO Pay Ratio”. As printed: 28 : 1. Filing ↗ |
| 12 | Section 08, Mark M. Gambill | DEF 14A | 2026-03-12 | 0001193125-26-102973 | Section “Director Compensation”. As printed: 231,605. Filing ↗machine: t25 · r2 · c23 · span 219913–219920 |
| 13 | Section 08, Ting Xu | DEF 14A | 2026-03-12 | 0001193125-26-102973 | Section “Director Compensation”. As printed: 226,605. Filing ↗machine: t25 · r6 · c23 · span 227987–227994 |
| 14 | Section 08, H. Hiter Harris III | DEF 14A | 2026-03-12 | 0001193125-26-102973 | Section “Director Compensation”. As printed: 226,605. Filing ↗machine: r4 · c23 · span 223958–223965 |
| 15 | Section 08, James E. Rogers | DEF 14A | 2026-03-12 | 0001193125-26-102973 | Section “Director Compensation”. As printed: 221,605. Filing ↗machine: t25 · r5 · c23 · span 225967–225974 |
| 16 | Section 08, Lilo S. Ukrop | DEF 14A | 2026-03-12 | 0001193125-26-102973 | Section “Director Compensation”. As printed: 201,605. Filing ↗machine: t25 · r7 · c23 · span 229992–229999 |
| 17 | Section 08, Bruce C. Gottwald | DEF 14A | 2026-03-12 | 0001193125-26-102973 | Section “Director Compensation”. As printed: 100,000. Filing ↗machine: t25 · r3 · c3 · span 220617–220624 |
| 18 | Section 08, Thomas E. Gottwald | DEF 14A | 2026-03-12 | 0001193125-26-102973 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 19 | Section 08, Bruce R. Hazelgrove III | DEF 14A | 2026-03-12 | 0001193125-26-102973 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 20 | Section 06, 2026 vote | Form 8-K | 2026-04-23 | 0001193125-26-173975 | Item 5.07 · say-on-pay result. As reported: 97.24% (votes for as printed: 8,002,241). Filing ↗ |
| 21 | Section 06, 2025 vote | Form 8-K | 2025-04-24 | 0001193125-25-093701 | Item 5.07 · say-on-pay result. As reported: 99.25% (votes for as printed: 7,844,440). Filing ↗ |
| 22 | Section 06, 2024 vote | Form 8-K | 2024-04-25 | 0001193125-24-114258 | Item 5.07 · say-on-pay result. As reported: 98.5% (votes for as printed: 8,305,086). Filing ↗ |
| 23 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 24 | Section 03b vehicle mix (computed) | Computed | — | computed | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 25 | Section 09b board cost (computed) | Computed | — | computed | Cash 700,000 + equity 508,025 + all other 0 = 1,208,025, summed across the director compensation table rows.machine: formula: Σ = 1,208,025 |
| 26 | Eastman Chemical, Section 10b CEO total | DEF 14A | 2026-03-24 | 0000915389-26-000074 | CEO total compensation as printed in Eastman Chemical's own proxy. As printed: 19,498,966. Filing ↗machine: r2 · c27 · span 1263333–1263343 |
| 27 | FMC Corporation, Section 10b CEO total | DEF 14A | 2026-03-13 | 0001308179-26-000056 | CEO total compensation as printed in FMC Corporation's own proxy. As printed: 12,038,391. Filing ↗machine: r1 · c18 · span 737212–737222 |
| 28 | RPM International Inc., Section 10b CEO total | DEF 14A | 2025-08-21 | 0001193125-25-185345 | CEO total compensation as printed in RPM International Inc.'s own proxy. As printed: 11,158,125. Filing ↗machine: r4 · c35 · span 833989–833999 |
| 29 | Celanese, Section 10b CEO total | DEF 14A | 2026-03-04 | 0001306830-26-000052 | CEO total compensation as printed in Celanese's own proxy. As printed: 10,137,072. Filing ↗ |
| 30 | Cabot Corporation, Section 10b CEO total | DEF 14A | 2026-01-27 | 0001193125-26-023681 | CEO total compensation as printed in Cabot Corporation's own proxy. As printed: 9,307,883. Filing ↗machine: r3 · c39 · span 853934–853943 |
| 31 | Ashland Corporation, Section 10b CEO total | DEF 14A | 2025-12-09 | 0001193125-25-312753 | CEO total compensation as printed in Ashland Corporation's own proxy. As printed: 7,907,423. Filing ↗machine: t125 · r3 · c21 · span 2021429–2021438 |
| 32 | Avient Corporation, Section 10b CEO total | DEF 14A | 2026-03-27 | 0001628280-26-021576 | CEO total compensation as printed in Avient Corporation's own proxy. As printed: 5,818,257. Filing ↗machine: t45 · r2 · c8 · span 748439–748448 |
| 33 | Newmarket (subject), Section 10b CEO total | DEF 14A | — | — | CEO total compensation as printed in Newmarket's own proxy. As printed: 3,694,678. |
| 34 | Section 10a, Avient Corporation reciprocity | DEF 14A | — | 0001628280-26-021576 | Avient Corporation's most recent proxy was read; its disclosed peer group does not include Newmarket. Filing ↗ |
| 35 | Section 10a, Cabot Corporation reciprocity | DEF 14A | — | 0001193125-26-023681 | Cabot Corporation names Newmarket in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 36 | Section 10a, Celanese reciprocity | DEF 14A | — | 0001306830-26-000052 | Celanese's most recent proxy was read; its disclosed peer group does not include Newmarket. Filing ↗ |
| 37 | Section 10a, Eastman Chemical reciprocity | DEF 14A | — | 0000915389-26-000074 | Eastman Chemical's most recent proxy was read; its disclosed peer group does not include Newmarket. Filing ↗ |
| 38 | Section 10a, FMC Corporation reciprocity | DEF 14A | — | 0001308179-26-000056 | FMC Corporation's most recent proxy was read; its disclosed peer group does not include Newmarket. Filing ↗ |
| 39 | Section 10a, RPM International Inc. reciprocity | DEF 14A | — | 0001193125-25-185345 | RPM International Inc.'s most recent proxy was read; its disclosed peer group does not include Newmarket. Filing ↗ |