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Companies Newmarket

Newmarket (NEU): executive pay, fiscal 2025

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CEO total pay$3,694,678CEO Thomas Gottwald · source
Say-on-pay support97.24%Latest vote · source
CEO vs. named peers1st pct.Of 16 peer CEOs
CEO pay ratio28:1To the median employee · source

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

Who was the highest-paid executive at Newmarket in fiscal 2025?
As disclosed, Thomas Gottwald (President and Chief Executive Officer) was the highest-paid executive at Newmarket in fiscal 2025, with total compensation of $3,694,678.
How does Newmarket's chief executive pay compare to its disclosed peer group?
As disclosed, Thomas Gottwald's total compensation ranked at the 1st percentile of Newmarket's disclosed peer group.
What is Newmarket's CEO-to-median employee pay ratio?
As disclosed, Newmarket's CEO-to-median employee pay ratio was 28:1.
How did shareholders vote on Newmarket's executive compensation?
As disclosed, 97.24% of shareholders supported Newmarket's executive compensation in the latest say-on-pay vote.
How much does Newmarket spend in total on board compensation for fiscal 2025?
As disclosed, Newmarket reported total board compensation of $1,208,025 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.

Full detail

Every table from the filing. Open any section.

Summary compensation table
Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
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 Hazelgrove579,0000368,1880590,000385,10228,9501,951,240
Executive Vice President and Chief Administrative Officer
Brian Paliotti620,0000368,1880600,000193,92332,0001,814,110
President of Afton Chemical Corporation
Bryce Jewett525,0000368,1880590,00090,06627,2501,600,503
Executive Vice President and General Counsel
Timothy Fitzgerald400,0000167,3580350,00073,56521,0001,011,923
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 officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Thomas Gottwald$3,694,678$3,088,406$3,195,097↑ +606,272
Bruce Hazelgrove1,951,2401,793,7061,783,123↑ +157,534
Brian Paliotti1,814,1101,623,3791,536,300↑ +190,731
Bryce Jewett1,600,5031,431,6831,224,467↑ +168,820
Timothy Fitzgerald1,011,923———

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 consultantFrederic W. Cook & Co., Inc. (FWC)
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingfalse
Equity grants and outstanding awards

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Bryce JewettPSU2025-03-05330660——$368,188
Bruce HazelgrovePSU2025-03-05330660——368,188
Timothy FitzgeraldPSU2024-03-05150300——167,358
Brian PaliottiPSU2025-03-05330660——368,188
Thomas E. GottwaldPSU2025-03-05330660——368,188

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Bryce Jewett$0$368,188$0100.0%
Bruce Hazelgrove0368,1880100.0%
Timothy Fitzgerald0167,3580100.0%
Brian Paliotti0368,1880100.0%
Thomas E. Gottwald0368,1880100.0%

% 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

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Timothy FitzgeraldRSU116—$79,722
Timothy FitzgeraldRSU135—92,780
Bryce JewettPSU415—285,213
Bruce HazelgrovePSU475—326,449
Bryce JewettRSU508—349,128
Brian PaliottiRSU526—361,499
Bruce HazelgroveRSU526—361,499
Bryce JewettRSU526—361,499
Brian PaliottiPSU535—367,684
GottwaldRSU570—391,738
Bruce HazelgroveRSU580—398,611
Bryce JewettRSU590—405,483
Brian PaliottiRSU653—448,781
GottwaldPSU655—450,155
GottwaldRSU660—453,592
Brian PaliottiRSU660—453,592
Bruce HazelgroveRSU660—453,592
Bryce JewettRSU660—453,592
Brian PaliottiRSU735—505,136
Bruce HazelgroveRSU735—505,136
GottwaldRSU798—548,433
GottwaldRSU880—604,789
Director compensation
DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Mark M. GambillIndependent · Lead Independent Director · Executive · Nominating and Corporate Governance$130,000$101,605—$0$0$231,605
Ting XuIndependent · Audit · Compensation (Chair)125,000101,605—00226,605
H. Hiter Harris IIIIndependent · Audit · Nominating and Corporate Governance (Chair)125,000101,605—00226,605
James E. RogersIndependent · Audit (Chair) · Compensation120,000101,605—00221,605
Lilo S. UkropIndependent · Compensation · Nominating and Corporate Governance100,000101,605—00201,605
Bruce C. GottwaldNot independent · Not standing for re-election · Departed during FY100,0000—00100,000
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

ComponentFY2025
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.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Eastman Chemical2025Mark Costa$1,406,958$12,682,200$3,278,151$987,000$19,498,966
2Ingevity Corporation2025David Li810,6858,500,0862,000,0071,293,60012,839,719
3FMC Corporation2025Pierre Brondeau1,334,1256,257,9192,373,4201,798,26112,038,391
4RPM International Inc.2026Frank Sullivan1,135,0005,194,5432,665,6731,703,00011,133,668
5Celanese2025Scott Richardson—5,249,9582,249,9901,342,62510,137,072
6Cabot Corporation2025Sean Keohane1,100,0004,224,8472,274,9251,402,5019,307,883
7H.B. Fuller Company2025Celeste Mastin1,082,6922,971,9763,025,5381,339,8918,830,569
8Sensient Technologies Corporation2025Paul Manning1,080,0004,750,07601,842,0648,665,993
9Innospec Inc.2025Patrick Williams1,380,5485,285,62301,365,3368,252,747
10Ashland Corporation2025Guillermo Novo1,152,3325,233,86301,313,8307,907,423
11Minerals Technologies Inc.2025Douglas Dietrich1,050,0002,310,022768,8032,891,1607,405,693
12Avient Corporation2025Ashish Khandpur1,128,2693,763,1590753,7775,818,257
13Valvoline Inc.2025Lori Flees923,1782,198,255750,066823,3914,844,663
14Stepan Company2025Luis Rojo940,0002,279,746800,003230,3004,327,042
15Quaker Chemical Corporation2025Joseph Berquist800,0002,420,3190461,8403,709,451
16Newmarket2025Thomas Gottwald1,275,333368,1880750,0003,694,678

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

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Newmarketnot disclosedPRSU 100NoFrederic W. Cook & Co., Inc. (FWC)
Ashland Corporation90.4%not disclosedYes — Relative Total Shareholder Return (rTSR)Meridian Compensation Partners
Avient Corporation51.6%not disclosednot disclosednot disclosed
Cabot Corporation90%not disclosedNoMeridian Compensation Partners
Celanese93.4%PSU 70 · Options 30NoWillis Towers Watson PLC
Eastman Chemical47%PSA 60 · Option 20 · RSU 20Yes — Relative total shareholder return (rTSR)Aon plc
FMC Corporationnot disclosednot disclosedYesAon
H.B. Fuller Companynot disclosednot disclosednot disclosedWillis Towers Watson US LLC
Ingevity Corporationnot disclosedPSU 50 · RSU 50not disclosedPearl Meyer
Innospec Inc.not disclosednot disclosednot disclosedWillis Towers Watson
Minerals Technologies Inc.not disclosednot disclosednot disclosedFW Cook
Quaker Chemical Corporationnot disclosedPSU 60 · RSU 40not disclosedMeridian Compensation Partners
RPM International Inc.not disclosednot disclosedNoWillis Towers Watson
Sensient Technologies Corporationnot disclosedPSU 60 · Restricted Stock 40not disclosedWillis Towers Watson
Stepan Companynot disclosedRSU 50 · SAR 25 · PSU 25not disclosedExequity LLP
Valvoline Inc.not disclosednot disclosednot disclosedDeloitte

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 yearMeeting dateForAgainstAbstainSupportOutcome
20262026-04-238,002,241226,9749,12497.24%Passed
20252025-04-247,844,44059,53611,54699.25%Passed
20242024-04-258,305,086126,08915,59498.5%Passed
20232023-04-278,538,88153,42413,54299.38%Passed
20222022-04-288,615,830117,77715,43098.65%Passed
20202020-04-239,429,06661,97014,74999.35%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 yearMeeting dateApproval — company’s computation
20262026-04-2397.24%a
20252025-04-2499.25%b
20242024-04-2598.5%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 ↗
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