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 NMRK 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 NMRK 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 |
|---|---|---|---|---|---|---|---|---|
| Howard Lutnick | $136,986 | $0 | $5,792,626 | $0 | $0 | $0 | $0 | $5,929,612 |
| Former Executive Chairman | ||||||||
| Luis Alvarado | 953,846 | 0 | 0 | 0 | 2,150,000 | 0 | 0 | 3,103,846 |
| Chief Operating Officer | ||||||||
| Barry Gosin | 1,000,000 | 1,500,000 | 0 | 0 | 0 | 0 | 168,848 | 2,668,848 |
| Chief Executive Officer | ||||||||
| Michael Rispoli | 850,000 | 0 | 0 | 0 | 1,500,000 | 0 | 0 | 2,350,000 |
| Chief Financial Officer | ||||||||
| Stephen Merkel | 500,000 | 0 | 0 | 0 | 1,300,000 | 0 | 0 | 1,800,000 |
| Executive Vice President and Chief Legal 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 |
|---|---|---|---|---|
| Howard Lutnick | $5,929,612 | $20,000,000 | — | −14,070,388 |
| Luis Alvarado | 3,103,846 | — | — | — |
| Barry Gosin | 2,668,848 | 27,659,664 | — | −24,990,816 |
| Michael Rispoli | 2,350,000 | 1,450,000 | — | +900,000 |
| Stephen Merkel | 1,800,000 | 1,650,000 | — | +150,000 |
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 |
|---|---|---|---|---|---|---|---|
| Barry Gosin | RSU | 2024-10-01 | — | — | 1,694,915 | — | $20,000,000 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Barry Gosin | $20,000,000 | $0 | $0 | 0.0% |
% 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 |
|---|---|---|---|---|
| Michael Rispoli | RSU | 642,837 | — | $11,146,794 |
Our executive compensation program, which is under the direction and control of our Compensation Committee, is designed to integrate compensation with the achievement of our short- and long-term business objectives and to assist it in attracting, motivating and retaining the highest quality executive officers and rewarding them for superior performance. Different components of our executive compensation program are geared to shorter- and longer-term performance, with the unified goal of increasing stockholder value over the long term.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Korn Ferry |
| Clawback policy | True |
| Anti-hedging | true |
| Anti-pledging | false |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2025 | 2025-12-30 | 245,525,288 | 71,333,000 | 601,267 | 77.49% | Passed |
| 2024 | 2024-10-17 | 221,810,165 | 81,635,660 | 793,264 | 73.1% | Passed |
| 2023 | 2023-10-05 | 254,315,663 | 49,083,585 | 2,361,500 | 83.17% | Passed |
| 2022 | 2022-09-28 | 230,008,352 | 80,831,346 | 433,210 | 73.89% | Passed |
| 2021 | 2021-12-17 | 236,065,207 | 80,503,956 | 3,856,242 | 73.67% | Passed |
| 2020 | 2020-09-22 | 278,268,677 | 21,232,245 | 1,341,391 | 92.91% | 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 |
|---|---|---|
| 2025 | 2025-12-30 | 77.49%a |
| 2024 | 2024-10-17 | 73.1%b |
| 2023 | 2023-10-05 | 83.17%c |
a. Approved under the standard stated in the filing — “Withheld votes will have no effect on the vote on Proposal 1, and abstentions will have no effect on the votes on Proposals 2 and 3.”.
b. Approved under the standard stated in the filing — “Withheld votes will have no effect on the vote on Proposal 1, and abstentions will have no effect on the votes on Proposals 2, 3, 4 and 5.”.
c. Approved under the standard stated in the filing — “Abstentions will have the same effect as a vote against the proposal.”.
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) | 32 : 1 |
|---|---|
| CEO total compensation | — |
| Median employee compensation | $82,853 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Kenneth A. McIntyreIndependent · Audit (Chair) · Compensation · Corporate Responsibility (Chair) | $206,000 | $50,000 | $0 | — | $0 | $256,000 |
| Virginia S. BauerIndependent · Compensation (Chair) · Audit · Corporate Responsibility | 181,000 | 50,000 | 0 | — | 0 | 231,000 |
| Jay ItzkowitzIndependent · Audit · Compensation | 166,000 | 50,000 | 0 | — | 0 | 216,000 |
| Kyle S. LutnickEmployee director | 0 | 0 | 0 | — | 0 | 0 |
| Stephen M. MerkelEmployee director · Board Chair | 0 | 0 | 0 | — | 0 | 0 |
| Howard W. LutnickEmployee director · Not standing for re-election · Departed during FY | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | $100,000 |
|---|---|
| Annual equity retainer | $50,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | — |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $553,000 |
| Equity awards (grant-date value) | $150,000 |
| All other compensation | $0 |
| Total cost of the board | $703,000 |
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 Newmark Group 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 Newmark 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 | Opendoor Technologies Inc. | 2025 | Kaz Nejatian | $0 | $741,137,105 | $0 | $0 | $741,137,105 |
| 2 | CBRE Group, Inc. | 2025 | Robert Sulentic | 1,350,000 | 19,023,324 | 0 | 3,638,824 | 24,325,039 |
| 3 | Jones Lang LaSalle Incorporated | 2025 | Christian Ulbrich | 1,042,889 | 9,930,776 | 0 | 3,666,000 | 14,675,352 |
| 4 | Cushman & Wakefield plc | 2025 | Michelle MacKay | 1,243,269 | 5,687,408 | 0 | 2,500,000 | 9,469,699 |
| 5 | Zillow Group, Inc. | 2025 | Jeremy Wacksman | 850,266 | 4,006,800 | 2,249,536 | 0 | 7,138,557 |
| 6 | Marcus & Millichap Inc. | 2025 | Hessam Nadji | 700,000 | 3,495,954 | 0 | 1,749,310 | 6,273,083 |
| 7 | Newmark Group | 2025 | Barry Gosin | 1,000,000 | 0 | 0 | 0 | 2,668,848 |
| 8 | RE/MAX Holdings, Inc. | 2024 | Erik Carlson | 825,000 | 0 | 0 | 972,102 | 1,812,352 |
| — | Compass, Inc. | — | — | — | — | — | — | not in coverage universe |
| — | FirstService Corporation | — | — | — | — | — | — | not in coverage universe |
| — | Colliers International Group Inc. | — | — | — | — | — | — | not in coverage universe |
| — | Savills plc | — | — | — | — | — | — | 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 |
|---|---|---|---|---|
| Newmark Group | not disclosed | not disclosed | not disclosed | Korn Ferry |
| CBRE Group, Inc. | 134.8% | PSU 34 · RSU 33 · MSU 33 | Yes — Relative TSR | Frederic W. Cook & Co., Inc. |
| Colliers International Group Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Compass, Inc. | 200% | RSU 100 | No | Semler Brossy Consulting Group, LLC |
| Cushman & Wakefield plc | 100% | PSU 50 · RSU 50 | Yes — Relative TSR | Pay Governance LLC (through September 2025); Meridian Compensation Partners (from September 2025 forward) |
| FirstService Corporation | not disclosed | not disclosed | not disclosed | not disclosed |
| Jones Lang LaSalle Incorporated | 122% | PSU 60 · RSU 40 | No | Exequity LLP |
| Marcus & Millichap Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Opendoor Technologies Inc. | not disclosed | PSU 97 · RSU 3 | No | Compensia, Inc. |
| RE/MAX Holdings, Inc. | not disclosed | PSU 60 · RSU 40 | No | Meridian Compensation Partners, LLC |
| Savills plc | not disclosed | not disclosed | not disclosed | not disclosed |
| Zillow Group, Inc. | not disclosed | not disclosed | not disclosed | Equilar |
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, Howard Lutnick | DEF 14A | 2026-08-07 | 0001213900-26-086659 | Section “Summary Compensation Table”. As printed: 5,929,612. Filing ↗machine: t11 · r13 · c20 · span 902510–902519 |
| 2 | Section 01, Luis Alvarado | DEF 14A | 2026-08-07 | 0001213900-26-086659 | Section “Summary Compensation Table”. As printed: 3,103,846. Filing ↗machine: r10 · c20 · span 863758–863767 |
| 3 | Section 01, Barry Gosin | DEF 14A | 2026-08-07 | 0001213900-26-086659 | Section “Summary Compensation Table”. As printed: 2,668,848. Filing ↗machine: span 748647–748656 |
| 4 | Section 01, Michael Rispoli | DEF 14A | 2026-08-07 | 0001213900-26-086659 | Section “Summary Compensation Table”. As printed: 2,350,000. Filing ↗machine: r4 · c20 · span 787287–787296 |
| 5 | Section 01, Stephen Merkel | DEF 14A | 2026-08-07 | 0001213900-26-086659 | Section “Summary Compensation Table”. As printed: 1,800,000. Filing ↗machine: r7 · c20 · span 826003–826012 |
| 6 | Section 03, Barry Gosin RSU | DEF 14A | 2026-08-07 | 0001213900-25-111530 | Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t11 · r2 · c8 · span 754719–754729 |
| 7 | Section 07, pay ratio | DEF 14A | 2026-08-07 | 0001213900-26-086659 | Section “CEO Pay Ratio”. As printed: 32 : 1. Filing ↗machine: span 1466791–1466793 |
| 8 | Section 08, Kenneth A. McIntyre | DEF 14A | 2026-08-07 | 0001213900-26-086659 | Section “Director Compensation”. As printed: 256,000. Filing ↗machine: t25 · r3 · c14 · span 2069084–2069091 |
| 9 | Section 08, Virginia S. Bauer | DEF 14A | 2026-08-07 | 0001213900-26-086659 | Section “Director Compensation”. As printed: 231,000. Filing ↗machine: t25 · r1 · c14 · span 2054201–2054208 |
| 10 | Section 08, Jay Itzkowitz | DEF 14A | 2026-08-07 | 0001213900-26-086659 | Section “Director Compensation”. As printed: 216,000. Filing ↗machine: t25 · r2 · c14 · span 2061627–2061634 |
| 11 | Section 08, Kyle S. Lutnick | DEF 14A | 2026-08-07 | 0001213900-26-086659 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 12 | Section 08, Stephen M. Merkel | DEF 14A | 2026-08-07 | 0001213900-26-086659 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 13 | Section 08, Howard W. Lutnick | DEF 14A | 2026-08-07 | 0001213900-26-086659 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 14 | Section 06, 2025 vote | Form 8-K | 2025-12-30 | 0001213900-25-126585 | Item 5.07 · say-on-pay result. As reported: 77.49% (votes for as printed: 245,525,288). Filing ↗ |
| 15 | Section 06, 2024 vote | Form 8-K | 2024-10-18 | 0001213900-24-088948 | Item 5.07 · say-on-pay result. As reported: 73.1% (votes for as printed: 221,810,165). Filing ↗ |
| 16 | Section 06, 2023 vote | Form 8-K | 2023-10-10 | 0001193125-23-253106 | Item 5.07 · say-on-pay result. As reported: 83.17% (votes for as printed: 254,315,663). Filing ↗ |
| 17 | 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) |
| 18 | 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 |
| 19 | Section 09b board cost (computed) | Computed | — | computed | Cash 553,000 + equity 150,000 + all other 0 = 703,000, summed across the director compensation table rows.machine: formula: Σ = 703,000 |
| 20 | Opendoor Technologies Inc., Section 10b CEO total | DEF 14A | 2026-04-28 | 0001140361-26-017460 | CEO total compensation as printed in Opendoor Technologies Inc.'s own proxy. As printed: 741,137,105. Filing ↗machine: r2 · c19 · span 1020141–1020152 |
| 21 | CBRE Group, Inc., Section 10b CEO total | DEF 14A | 2026-04-03 | 0001193125-26-141285 | CEO total compensation as printed in CBRE Group, Inc.'s own proxy. As printed: 24,325,039. Filing ↗machine: t20 · r6 · c18 · span 508434–508444 |
| 22 | Jones Lang LaSalle Incorporated, Section 10b CEO total | DEF 14A | 2026-04-17 | 0001037976-26-000099 | CEO total compensation as printed in Jones Lang LaSalle Incorporated's own proxy. As printed: 14,675,352. Filing ↗machine: r2 · c39 · span 1021535–1021545 |
| 23 | Cushman & Wakefield plc, Section 10b CEO total | DEF 14A | 2026-04-03 | 0001628369-26-000046 | CEO total compensation as printed in Cushman & Wakefield plc's own proxy. As printed: 9,469,699. Filing ↗machine: r2 · c21 · span 986050–986059 |
| 24 | Zillow Group, Inc., Section 10b CEO total | DEF 14A | 2026-04-15 | 0001617640-26-000031 | CEO total compensation as printed in Zillow Group, Inc.'s own proxy. As printed: 7,138,557. Filing ↗machine: r2 · c39 · span 618709–618718 |
| 25 | Marcus & Millichap Inc., Section 10b CEO total | DEF 14A | 2026-03-18 | 0001193125-26-113930 | CEO total compensation as printed in Marcus & Millichap Inc.'s own proxy. As printed: 6,273,083. Filing ↗ |
| 26 | Newmark Group (subject), Section 10b CEO total | DEF 14A | 2026-08-07 | 0001213900-26-086659 | CEO total compensation as printed in Newmark Group's own proxy. As printed: 2,668,848. Filing ↗machine: span 748647–748656 |
| 27 | RE/MAX Holdings, Inc., Section 10b CEO total | DEF 14A | 2025-04-03 | 0001558370-25-004353 | CEO total compensation as printed in RE/MAX Holdings, Inc.'s own proxy. As printed: 1,812,352. Filing ↗machine: t144 · r6 · c14 · span 884831–884840 |
| 28 | Section 10a, Compass, Inc. reciprocity | DEF 14A | — | 0001563190-26-000084 | Compass, Inc.'s most recent proxy was read; its disclosed peer group does not include Newmark Group. Filing ↗ |
| 29 | Section 10a, Opendoor Technologies Inc. reciprocity | DEF 14A | — | 0001140361-26-017460 | Opendoor Technologies Inc.'s most recent proxy was read; its disclosed peer group does not include Newmark Group. Filing ↗ |
| 30 | Section 10a, Marcus & Millichap Inc. reciprocity | DEF 14A | — | 0001193125-26-113930 | Marcus & Millichap Inc. names Newmark Group in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 31 | Section 10a, Cushman & Wakefield plc reciprocity | DEF 14A | — | 0001628369-26-000046 | Cushman & Wakefield plc names Newmark Group in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 32 | Section 10a, CBRE Group, Inc. reciprocity | DEF 14A | — | 0001193125-26-141285 | CBRE Group, Inc. names Newmark Group in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 33 | Section 10a, RE/MAX Holdings, Inc. reciprocity | DEF 14A | — | 0001558370-25-004353 | RE/MAX Holdings, Inc.'s most recent proxy was read; its disclosed peer group does not include Newmark Group. Filing ↗ |
| 34 | Section 10a, Jones Lang LaSalle Incorporated reciprocity | DEF 14A | — | 0001037976-26-000099 | Jones Lang LaSalle Incorporated's most recent proxy was read; its disclosed peer group does not include Newmark Group. Filing ↗ |