Companies Newmarket
Newmarket (NEU): executive pay, fiscal 2025
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CEO pay, last three years
- $3,195,097FY2023
- $3,088,406FY2024
- $3,694,678FY2025
CEO total pay was $3,694,678 in fiscal 2025, up from $3,088,406 in fiscal 2024.
FY2025: salary $1,275,333 · bonus $0 · stock awards $368,188 · option awards $0
Executives and directors
Frequently asked questions
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 |
|---|---|---|---|---|---|---|---|---|
| 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.
Three-year trend — total compensation per named executive
| 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.
Incentive-plan design — the Compensation Discussion & Analysis
Our executive compensation philosophy is to create a long-term direct relationship between pay and performance. The program is designed to deliver a balanced total compensation package over executives' careers, attract, motivate, and retain qualified executives, and align the interests of executives and shareholders.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Frederic W. Cook & Co., Inc. (FWC) |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | false |
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 |
|---|---|---|---|---|---|---|---|
| Bryce Jewett | PSU | 2025-03-05 | 330 | 660 | — | — | $368,188 |
| Bruce Hazelgrove | PSU | 2025-03-05 | 330 | 660 | — | — | 368,188 |
| Timothy Fitzgerald | PSU | 2024-03-05 | 150 | 300 | — | — | 167,358 |
| Brian Paliotti | PSU | 2025-03-05 | 330 | 660 | — | — | 368,188 |
| Thomas E. Gottwald | PSU | 2025-03-05 | 330 | 660 | — | — | 368,188 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Bryce Jewett | $0 | $368,188 | $0 | 100.0% |
| Bruce Hazelgrove | 0 | 368,188 | 0 | 100.0% |
| Timothy Fitzgerald | 0 | 167,358 | 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.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Timothy Fitzgerald | RSU | 116 | — | $79,722 |
| Timothy Fitzgerald | RSU | 135 | — | 92,780 |
| Bryce Jewett | PSU | 415 | — | 285,213 |
| Bruce Hazelgrove | PSU | 475 | — | 326,449 |
| Bryce Jewett | RSU | 508 | — | 349,128 |
| Brian Paliotti | RSU | 526 | — | 361,499 |
| Bruce Hazelgrove | RSU | 526 | — | 361,499 |
| Bryce Jewett | RSU | 526 | — | 361,499 |
| Brian Paliotti | PSU | 535 | — | 367,684 |
| Gottwald | RSU | 570 | — | 391,738 |
| Bruce Hazelgrove | RSU | 580 | — | 398,611 |
| Bryce Jewett | RSU | 590 | — | 405,483 |
| Brian Paliotti | RSU | 653 | — | 448,781 |
| Gottwald | PSU | 655 | — | 450,155 |
| Gottwald | RSU | 660 | — | 453,592 |
| Brian Paliotti | RSU | 660 | — | 453,592 |
| Bruce Hazelgrove | RSU | 660 | — | 453,592 |
| Bryce Jewett | RSU | 660 | — | 453,592 |
| Brian Paliotti | RSU | 735 | — | 505,136 |
| Bruce Hazelgrove | RSU | 735 | — | 505,136 |
| Gottwald | RSU | 798 | — | 548,433 |
| Gottwald | RSU | 880 | — | 604,789 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Mark M. GambillIndependent · Lead Independent Director · Executive · Nominating and Corporate Governance | $130,000 | $101,605 | — | $0 | $0 | $231,605 |
| Ting XuIndependent · Audit · Compensation (Chair) | 125,000 | 101,605 | — | 0 | 0 | 226,605 |
| H. Hiter Harris IIIIndependent · Audit · Nominating and Corporate Governance (Chair) | 125,000 | 101,605 | — | 0 | 0 | 226,605 |
| James E. RogersIndependent · Audit (Chair) · Compensation | 120,000 | 101,605 | — | 0 | 0 | 221,605 |
| Lilo S. UkropIndependent · Compensation · Nominating and Corporate Governance | 100,000 | 101,605 | — | 0 | 0 | 201,605 |
| Bruce C. GottwaldNot independent · Not standing for re-election · Departed during FY | 100,000 | 0 | — | 0 | 0 | 100,000 |
| Bruce R. Hazelgrove IIIEmployee director · Executive · Newly elected | — | — | — | — | — | 0 |
| Thomas E. GottwaldEmployee director · Board Chair · Executive (Chair) | — | — | — | — | — | 0 |
Board fee structure and ownership guideline
| Annual cash retainer | $100,000 |
|---|---|
| Annual equity retainer | $100,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 5,000 / 3,750 / 3,750 |
| Stock ownership guideline | $5 |
Total cost of the board
| 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.
Peer group, and who names Newmarket as a peer
Companies that benchmark against NEU
11 companies name NEU as a compensation peer
The list of companies that name NEU as a peer is temporarily unavailable — recheck shortly.
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.
Peer reciprocity
The companies Newmarket names as compensation peers that name it back in their own disclosed peer groups.
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 | Eastman Chemical | 2025 | Mark Costa | $1,406,958 | $12,682,200 | $3,278,151 | $987,000 | $19,498,966 |
| 2 | Ingevity Corporation | 2025 | David Li | 810,685 | 8,500,086 | 2,000,007 | 1,293,600 | 12,839,719 |
| 3 | FMC Corporation | 2025 | Pierre Brondeau | 1,334,125 | 6,257,919 | 2,373,420 | 1,798,261 | 12,038,391 |
| 4 | RPM International Inc. | 2026 | Frank Sullivan | 1,135,000 | 5,194,543 | 2,665,673 | 1,703,000 | 11,133,668 |
| 5 | Celanese | 2025 | Scott Richardson | — | 5,249,958 | 2,249,990 | 1,342,625 | 10,137,072 |
| 6 | Cabot Corporation | 2025 | Sean Keohane | 1,100,000 | 4,224,847 | 2,274,925 | 1,402,501 | 9,307,883 |
| 7 | H.B. Fuller Company | 2025 | Celeste Mastin | 1,082,692 | 2,971,976 | 3,025,538 | 1,339,891 | 8,830,569 |
| 8 | Sensient Technologies Corporation | 2025 | Paul Manning | 1,080,000 | 4,750,076 | 0 | 1,842,064 | 8,665,993 |
| 9 | Innospec Inc. | 2025 | Patrick Williams | 1,380,548 | 5,285,623 | 0 | 1,365,336 | 8,252,747 |
| 10 | Ashland Corporation | 2025 | Guillermo Novo | 1,152,332 | 5,233,863 | 0 | 1,313,830 | 7,907,423 |
| 11 | Minerals Technologies Inc. | 2025 | Douglas Dietrich | 1,050,000 | 2,310,022 | 768,803 | 2,891,160 | 7,405,693 |
| 12 | Avient Corporation | 2025 | Ashish Khandpur | 1,128,269 | 3,763,159 | 0 | 753,777 | 5,818,257 |
| 13 | Valvoline Inc. | 2025 | Lori Flees | 923,178 | 2,198,255 | 750,066 | 823,391 | 4,844,663 |
| 14 | Stepan Company | 2025 | Luis Rojo | 940,000 | 2,279,746 | 800,003 | 230,300 | 4,327,042 |
| 15 | Quaker Chemical Corporation | 2025 | Joseph Berquist | 800,000 | 2,420,319 | 0 | 461,840 | 3,709,451 |
| 16 | Newmarket | 2025 | Thomas Gottwald | 1,275,333 | 368,188 | 0 | 750,000 | 3,694,678 |
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 |
|---|---|---|---|---|
| Newmarket | not disclosed | PRSU 100 | No | Frederic W. Cook & Co., Inc. (FWC) |
| Ashland Corporation | 90.4% | not disclosed | Yes — Relative Total Shareholder Return (rTSR) | Meridian Compensation Partners |
| Avient Corporation | 51.6% | not disclosed | not disclosed | not disclosed |
| Cabot Corporation | 90% | not disclosed | 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 | not disclosed | not disclosed | Yes | Aon |
| H.B. Fuller Company | not disclosed | not disclosed | not disclosed | Willis Towers Watson US LLC |
| Ingevity Corporation | not disclosed | PSU 50 · RSU 50 | not disclosed | Pearl Meyer |
| Innospec Inc. | not disclosed | not disclosed | not disclosed | Willis Towers Watson |
| Minerals Technologies Inc. | not disclosed | not disclosed | not disclosed | FW Cook |
| Quaker Chemical Corporation | not disclosed | PSU 60 · RSU 40 | not disclosed | Meridian Compensation Partners |
| RPM International Inc. | not disclosed | not disclosed | No | Willis Towers Watson |
| Sensient Technologies Corporation | not disclosed | PSU 60 · Restricted Stock 40 | not disclosed | Willis Towers Watson |
| Stepan Company | not disclosed | RSU 50 · SAR 25 · PSU 25 | not disclosed | Exequity LLP |
| Valvoline Inc. | not disclosed | not disclosed | not disclosed | Deloitte |
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 | 2026-04-23 | 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.
Say-on-pay — history, company’s computation
| 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.
CEO pay ratio
| Ratio (CEO : median employee) | 28 : 1 |
|---|---|
| CEO total compensation | $3,719,545 |
| Median employee compensation | $132,938 |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (45 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, Thomas Gottwald. DEF 14A, filed 2026-03-12. Section “Executive Compensation” · page 26. As printed: 3,694,678. View filing ↗
- Section 01, Bruce Hazelgrove. DEF 14A, filed 2026-03-12. Section “Executive Compensation”. As printed: 1,951,240. View filing ↗
- Section 01, Brian Paliotti. DEF 14A, filed 2026-03-12. Section “Executive Compensation”. As printed: 1,814,110. View filing ↗
- Section 01, Bryce Jewett. DEF 14A, filed 2026-03-12. Section “Executive Compensation”. As printed: 1,600,503. View filing ↗
- Section 01, Timothy Fitzgerald. DEF 14A, filed 2026-03-12. Section “Executive Compensation”. As printed: 1,011,923. View filing ↗
- Section 03, Bryce Jewett PSU. DEF 14A, filed 2026-03-12. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Bruce Hazelgrove PSU. DEF 14A, filed 2026-03-12. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Timothy Fitzgerald PSU. DEF 14A, filed 2026-03-12. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Brian Paliotti PSU. DEF 14A, filed 2026-03-12. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Thomas E. Gottwald PSU. DEF 14A, filed 2026-03-12. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-03-12. Section “CEO Pay Ratio”. As printed: 28 : 1. View filing ↗
- Section 08, Mark M. Gambill. DEF 14A, filed 2026-03-12. Section “Director Compensation”. As printed: 231,605. View filing ↗
- Section 08, Ting Xu. DEF 14A, filed 2026-03-12. Section “Director Compensation”. As printed: 226,605. View filing ↗
- Section 08, H. Hiter Harris III. DEF 14A, filed 2026-03-12. Section “Director Compensation”. As printed: 226,605. View filing ↗
- Section 08, James E. Rogers. DEF 14A, filed 2026-03-12. Section “Director Compensation”. As printed: 221,605. View filing ↗
- Section 08, Lilo S. Ukrop. DEF 14A, filed 2026-03-12. Section “Director Compensation”. As printed: 201,605. View filing ↗
- Section 08, Bruce C. Gottwald. DEF 14A, filed 2026-03-12. Section “Director Compensation”. As printed: 100,000. View filing ↗
- Section 08, Bruce R. Hazelgrove III. DEF 14A, filed 2026-03-12. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, Thomas E. Gottwald. DEF 14A, filed 2026-03-12. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-04-23. Item 5.07 · say-on-pay result. As reported: 97.24% (votes for as printed: 8,002,241). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-04-24. Item 5.07 · say-on-pay result. As reported: 99.25% (votes for as printed: 7,844,440). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-04-25. Item 5.07 · say-on-pay result. As reported: 98.5% (votes for as printed: 8,305,086). 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 700,000 + equity 508,025 + all other 0 = 1,208,025, summed across the director compensation table rows.
- Eastman Chemical, Section 10b CEO total. DEF 14A, filed 2026-03-24. CEO total compensation as printed in Eastman Chemical's own proxy. As printed: 19,498,966. View filing ↗
- Ingevity Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-17. CEO total compensation as printed in Ingevity Corporation's own proxy. As printed: 12,839,719. View filing ↗
- FMC Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-13. CEO total compensation as printed in FMC Corporation's own proxy. As printed: 12,038,391. View filing ↗
- RPM International Inc., Section 10b CEO total. DEF 14A, filed 2026-08-25. CEO total compensation as printed in RPM International Inc.'s own proxy. As printed: 11,133,668. View filing ↗
- Celanese, Section 10b CEO total. DEF 14A, filed 2026-03-04. CEO total compensation as printed in Celanese's own proxy. As printed: 10,137,072. View filing ↗
- Cabot Corporation, Section 10b CEO total. DEF 14A, filed 2026-01-27. CEO total compensation as printed in Cabot Corporation's own proxy. As printed: 9,307,883. View filing ↗
- H.B. Fuller Company, Section 10b CEO total. DEF 14A, filed 2026-03-04. CEO total compensation as printed in H.B. Fuller Company's own proxy. As printed: 8,830,569. View filing ↗
- Sensient Technologies Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-11. CEO total compensation as printed in Sensient Technologies Corporation's own proxy. As printed: 8,665,993. View filing ↗
- Innospec Inc., Section 10b CEO total. DEF 14A, filed 2026-03-26. CEO total compensation as printed in Innospec Inc.'s own proxy. As printed: 8,252,747. View filing ↗
- Ashland Corporation, Section 10b CEO total. DEF 14A, filed 2025-12-09. CEO total compensation as printed in Ashland Corporation's own proxy. As printed: 7,907,423. View filing ↗
- Minerals Technologies Inc., Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in Minerals Technologies Inc.'s own proxy. As printed: 7,405,693. View filing ↗
- Avient Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-27. CEO total compensation as printed in Avient Corporation's own proxy. As printed: 5,818,257. View filing ↗
- Valvoline Inc., Section 10b CEO total. DEF 14A, filed 2025-12-19. CEO total compensation as printed in Valvoline Inc.'s own proxy. As printed: 4,844,663. View filing ↗
- Stepan Company, Section 10b CEO total. DEF 14A, filed 2026-03-25. CEO total compensation as printed in Stepan Company's own proxy. As printed: 4,327,042. View filing ↗
- Quaker Chemical Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-31. CEO total compensation as printed in Quaker Chemical Corporation's own proxy. As printed: 3,709,451. View filing ↗
- Newmarket (subject), Section 10b CEO total. DEF 14A, filed 2026-03-12. CEO total compensation as printed in Newmarket's own proxy. As printed: 3,694,678. View filing ↗
- Section 10a, Cabot Corporation reciprocity. DEF 14A. Cabot Corporation names Newmarket in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Quaker Chemical Corporation reciprocity. DEF 14A. Quaker Chemical Corporation names Newmarket in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Innospec Inc. reciprocity. DEF 14A. Innospec Inc. names Newmarket in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Stepan Company reciprocity. DEF 14A. Stepan Company names Newmarket in its own disclosed peer group (read from its most recent proxy). View filing ↗