Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-14

Ranpak Holdings (PACK)

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.

$1,935,935
Omar Asali total, FY2025
10th
CEO pay percentile vs peers
30:1
CEO-to-median pay ratio
99.32%
Say-on-pay support, latest vote
Companies that benchmark against PACK
No companies currently name PACK as a compensation peer in their most recent disclosure.

This is the complete answer, not a partial one — the list is never padded.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Omar Asali$676,923$0$1,154,012$0$105,000$0$0$1,935,935
Chief Executive Officer and Chairman
Antonio Grassotti269,7520131,421015,8660635,9301,052,969
Former Managing Director, APAC
Bill Drew391,4550384,664024,000014,936815,055
Executive Vice President and Chief Financial Officer
Eric Laurensse267,97326,957395,662018,273043,435752,300
Former Managing Director, Europe
Paul Aram83,538055,50005,012011,012155,062
Senior Vice President and Chief Operating 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 FY20242025
Omar Asali$1,935,935$2,147,373$1,935,935−211,438
Antonio Grassotti1,052,969954,5231,089,645+98,446
Bill Drew815,055883,0561,173,371−68,001
Eric Laurensse752,300939,9611,140,847−187,661
Paul Aram155,062

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
Eric LaurenssePSU4,73231,55247,328$197,831
Paul AramRSU5,00027,750
Paul AramPSU7505,0007,50027,750
Omar AsaliPSU13,80492,027138,040577,009
Omar AsaliRSU92,026577,003
Bill DrewPSU4,60130,67546,012192,332
Bill DrewRSU30,675192,332
Antonio GrassottiPSU2,74618,30927,463114,797
Antonio GrassottiRSU18,309114,797
Eric LaurensseRSU31,552197,831
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Eric Laurensse$197,831$197,831$050.0%
Paul Aram27,75027,750050.0%
Omar Asali577,003577,009050.0%
Bill Drew192,332192,332050.0%
Antonio Grassotti114,797114,797050.0%

% 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
Paul AramRSU5,000$27,050
Bill DrewRSU5,20928,181
Omar AsaliRSU120,000649,200
Omar AsaliPSU92,027497,866
Antonio GrassottiRSU6,78136,685
Omar AsaliRSU92,026497,861
Omar AsaliRSU61,351331,909
Omar AsaliRSU46,013248,930
Bill DrewRSU35,000189,350
Eric LaurensseRSU31,552170,696
Bill DrewRSU30,675165,952
Bill DrewPSU30,675165,952
Eric LaurensseRSU25,000135,250
Eric LaurensseRSU23,372126,443
Bill DrewRSU20,450110,635
Antonio GrassottiRSU20,000108,200
Eric LaurensseRSU17,52994,832
Omar AsaliRSU15,63084,558
Omar AsaliRSU15,62984,553
Bill DrewRSU15,33782,973
Antonio GrassottiRSU10,17155,025
Antonio GrassottiRSU6,10333,017
Eric LaurensseRSU5,95532,217
Eric LaurensseRSU5,95432,211
Bill DrewRSU5,21028,186
Paul AramPSU5,00027,050
Antonio GrassottiRSU3,45518,692
05

Incentive-plan design — the Compensation Discussion & Analysis

The compensation program is designed to attract, retain, and motivate executives by paying for performance, instilling an ownership culture, paying competitively, and valuing stockholder input. A significant portion of compensation is 'at risk' and tied to achieving challenging financial targets, specifically Constant Currency AEBITDA, to align executive interests with stockholder value.

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

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-2167,402,501463,172198,78999.32%Passed
20252025-05-2269,523,3221,037,18552,76298.53%Passed
20242024-05-2359,477,00911,690,9075,43883.57%Passed
20232023-05-2550,740,25722,240,88123,43969.53%Passed
20222022-05-2547,792,19026,417,65649,46864.4%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
20262026-05-2199.32%a
20252025-05-2298.53%b
20242024-05-2383.57%c

a. Approved under the standard stated in the filing — “Abstentions will have no effect on the results.”.

b. Approved under the standard stated in the filing — “Abstentions will have no effect on the results.”.

c. Approved under the standard stated in the filing — “Abstentions will have no effect on the results.”.

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.

07

CEO pay ratio

Ratio (CEO : median employee)30 : 1
CEO total compensation
Median employee compensation$71,338
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Victoria L. DolanIndependent · Audit (Chair)$119,176$99,998$0$219,174
Robert C. KingIndependent · Audit · Not standing for re-election110,80699,9980210,804
Pam ElIndependent · Not standing for re-election87,056118,7450205,801
Salil SeshadriIndependent · Compensation (Chair) · Not standing for re-election13,750174,9870188,737
Thomas F. CorleyIndependent · Nominating, Sustainability & Governance (Chair) · Not standing for re-election85,00099,9980184,998
Alicia TranenIndependent · Audit · Compensation0174,9870174,987
Michael A. JonesIndependent · Not standing for re-election0174,9870174,987
Kurt ZumwaltNot independent · Not standing for re-election · Departed during FY48,2140048,214
Michael S. GliedmanEmployee director0
Omar AsaliEmployee director · Board Chair · Not standing for re-election0
09

Board fee structure and ownership guideline

Annual cash retainer$75,000
Annual equity retainer$100,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)20,000 / 15,000 / 10,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$464,002
Equity awards (grant-date value)$943,700
All other compensation$0
Total cost of the board$1,407,702

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 Ranpak Holdings 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 Ranpak Holdings.

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
1TriMas2025Thomas J. Snyder$415,385$4,249,999$6,707,644$0$12,128,864
2UFP Technologies2025R. Jeffrey Bailly789,0005,377,49901,260,9347,648,440
3Enerpac Tool Group2025Paul Sternlieb929,4234,520,6340951,3326,548,272
4Powell Industries2025Brett Cope660,0001,129,26801,650,0003,600,369
5Allient2025Richard Warzala740,0001,110,03501,615,2323,530,820
6CECO Environmental2024Todd Gleason717,3831,627,505289,575382,6563,051,771
7Flotek Industries2025Ryan Ezell561,9941,356,750662,8052,604,376
8Thermon Group2025Bruce Thames715,0351,299,9630543,6202,579,122
9Hurco Companies2025Gregory Volovic675,8001,249,991002,023,603
10Ranpak Holdings2025Omar Asali676,9231,154,0120105,0001,935,935
11Graham Corporation2026Matthew Malone462,769600,0040636,3081,809,120
Myers Industriesnot in coverage universe
The Eastern Companynot in coverage universe
DMC Globalnot in coverage universe
NN, 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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Ranpak Holdingsnot disclosedPRSU 50 · RSU 50not disclosedFrederic W. Cook & Co.
Allientnot disclosednot disclosedNoBurke Capital Group
CECO Environmental40%PSU 75 · Options 25NoMeridian Compensation Partners LLC
DMC Globalnot disclosednot disclosednot disclosednot disclosed
Enerpac Tool Group100.7%PSU 60 · RSU 40NoMercer, LLC
Flotek Industriesnot disclosednot disclosednot disclosednot disclosed
Graham Corporationnot disclosedRSU 50 · PSU 50not disclosedFrederic W. Cook & Co., Inc.
Hurco Companiesnot disclosedPSU 55 · RSU 45NoPay Governance, LLC
Myers Industriesnot disclosednot disclosednot disclosednot disclosed
NN, Inc.not disclosednot disclosednot disclosednot disclosed
Powell Industries200%PSU 50 · RSU 50Nonot disclosed
The Eastern Companynot disclosednot disclosednot disclosednot disclosed
Thermon Group76%PSU 65 · RSU 35NoMercer, LLC
TriMas200%Options 65 · RSU 35NoMeridian Compensation Partners
UFP Technologies152%not disclosedNoPearl Meyer

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, Omar AsaliDEF 14A2026-04-090001140361-26-014014Section “2025 Summary Compensation Table” · page 35. As printed: 1,935,935. Filing ↗machine: r2 · c22 · span 501001–501011
2Section 01, Antonio GrassottiDEF 14A2026-04-090001140361-26-014014Section “2025 Summary Compensation Table” · page 35. As printed: 1,052,969. Filing ↗machine: r10 · c22 · span 534895–534905
3Section 01, Bill DrewDEF 14A2026-04-090001140361-26-014014Section “2025 Summary Compensation Table” · page 35. As printed: 815,055. Filing ↗
4Section 01, Eric LaurensseDEF 14A2026-04-090001140361-26-014014Section “2025 Summary Compensation Table” · page 35. As printed: 752,300. Filing ↗
5Section 01, Paul AramDEF 14A2026-04-090001140361-26-014014Section “2025 Summary Compensation Table” · page 35. As printed: 155,062. Filing ↗
6Section 03, Eric Laurensse PSUDEF 14A2026-04-090001140361-26-014014Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
7Section 03, Paul Aram RSUDEF 14A2026-04-090001140361-26-014014Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 617338–617344
8Section 03, Paul Aram PSUDEF 14A2026-04-090001140361-26-014014Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
9Section 03, Omar Asali PSUDEF 14A2026-04-090001140361-26-014014Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 595162–595170
10Section 03, Omar Asali RSUDEF 14A2026-04-090001140361-26-014014Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 601352–601360
11Section 03, Bill Drew PSUDEF 14A2026-04-090001140361-26-014014Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
12Section 03, Bill Drew RSUDEF 14A2026-04-090001140361-26-014014Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 635929–635937
13Section 03, Antonio Grassotti PSUDEF 14A2026-04-090001140361-26-014014Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
14Section 03, Antonio Grassotti RSUDEF 14A2026-04-090001140361-26-014014Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 651997–652004
15Section 03, Eric Laurensse RSUDEF 14A2026-04-090001140361-26-014014Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 675715–675723
16Section 07, pay ratioDEF 14A2026-04-090001140361-26-014014Section “CEO Pay Ratio”. As printed: 30 : 1. Filing ↗
17Section 08, Victoria L. DolanDEF 14A2026-04-090001140361-26-014014Section “Director Compensation”. As printed: 219,174. Filing ↗machine: span 995476–995652
18Section 08, Robert C. KingDEF 14A2026-04-090001140361-26-014014Section “Director Compensation”. As printed: 210,804. Filing ↗machine: span 1003432–1003608
19Section 08, Pam ElDEF 14A2026-04-090001140361-26-014014Section “Director Compensation”. As printed: 205,801. Filing ↗machine: span 998267–998443
20Section 08, Salil SeshadriDEF 14A2026-04-090001140361-26-014014Section “Director Compensation”. As printed: 188,737. Filing ↗machine: span 1005837–1006013
21Section 08, Thomas F. CorleyDEF 14A2026-04-090001140361-26-014014Section “Director Compensation”. As printed: 184,998. Filing ↗machine: span 993068–993244
22Section 08, Alicia TranenDEF 14A2026-04-090001140361-26-014014Section “Director Compensation”. As printed: 174,987. Filing ↗machine: span 1007496–1007675
23Section 08, Michael A. JonesDEF 14A2026-04-090001140361-26-014014Section “Director Compensation”. As printed: 174,987. Filing ↗machine: span 999740–999919
24Section 08, Kurt ZumwaltDEF 14A2026-04-090001140361-26-014014Section “Director Compensation”. As printed: 48,214. Filing ↗machine: span 1009518–1009738
25Section 08, Michael S. GliedmanDEF 14A2026-04-090001140361-26-014014Section “Director Compensation”. As printed: 0. Filing ↗
26Section 08, Omar AsaliDEF 14A2026-04-090001140361-26-014014Section “Director Compensation”. As printed: 0. Filing ↗
27Section 06, 2026 voteForm 8-K2026-05-220000950103-26-007649Item 5.07 · say-on-pay result. As reported: 99.32% (votes for as printed: 67,402,501). Filing ↗
28Section 06, 2025 voteForm 8-K2025-05-290000950103-25-006634Item 5.07 · say-on-pay result. As reported: 98.53% (votes for as printed: 69,523,322). Filing ↗
29Section 06, 2024 voteForm 8-K2024-05-280000950103-24-007187Item 5.07 · say-on-pay result. As reported: 83.57% (votes for as printed: 59,477,009). 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 464,002 + equity 943,700 + all other 0 = 1,407,702, summed across the director compensation table rows.machine: formula: Σ = 1,407,702
33TriMas, Section 10b CEO totalDEF 14A2026-03-310001140361-26-012327CEO total compensation as printed in TriMas's own proxy. As printed: 12,128,864. Filing ↗machine: r2 · c25 · span 1036527–1036537
34UFP Technologies, Section 10b CEO totalDEF 14A2026-04-300001628280-26-028710CEO total compensation as printed in UFP Technologies's own proxy. As printed: 7,648,440. Filing ↗machine: t11 · r3 · c21 · span 261984–261993
35Enerpac Tool Group, Section 10b CEO totalDEF 14A2025-12-220001140361-25-046276CEO total compensation as printed in Enerpac Tool Group's own proxy. As printed: 6,548,272. Filing ↗machine: t136 · r2 · c24 · span 758100–758109
36Powell Industries, Section 10b CEO totalDEF 14A2026-01-060001140361-26-000342CEO total compensation as printed in Powell Industries's own proxy. As printed: 3,600,369. Filing ↗machine: r2 · c27 · span 542584–542594
37Allient, Section 10b CEO totalDEF 14A2026-03-260001140361-26-011362CEO total compensation as printed in Allient's own proxy. As printed: 3,530,820. Filing ↗machine: r13 · c19 · span 507123–507133
38CECO Environmental, Section 10b CEO totalDEF 14A2025-04-100001558370-25-004649CEO total compensation as printed in CECO Environmental's own proxy. As printed: 3,051,771. Filing ↗machine: t106 · r5 · c17 · span 876582–876591
39Flotek Industries, Section 10b CEO totalDEF 14A2026-04-020000928054-26-000033CEO total compensation as printed in Flotek Industries's own proxy. As printed: 2,604,376. Filing ↗
40Thermon Group, Section 10b CEO totalDEF 14A2025-06-180001489096-25-000097CEO total compensation as printed in Thermon Group's own proxy. As printed: 2,579,122. Filing ↗machine: span 730045–730054
41Hurco Companies, Section 10b CEO totalDEF 14A2026-01-280001104659-26-007238CEO total compensation as printed in Hurco Companies's own proxy. As printed: 2,023,603. Filing ↗machine: r1 · c41 · span 754495–754504
42Ranpak Holdings (subject), Section 10b CEO totalDEF 14A2026-04-090001140361-26-014014CEO total compensation as printed in Ranpak Holdings's own proxy. As printed: 1,935,935. Filing ↗machine: r2 · c22 · span 501001–501011
43Graham Corporation, Section 10b CEO totalDEF 14A2026-07-140001193125-26-302521CEO total compensation as printed in Graham Corporation's own proxy. As printed: 1,809,120. Filing ↗machine: span 1148738–1148747
44Section 10a, Allient reciprocityDEF 14A0001140361-26-011362Allient's most recent proxy was read; its disclosed peer group does not include Ranpak Holdings. Filing ↗
45Section 10a, Thermon Group reciprocityDEF 14A0001489096-25-000097Thermon Group's most recent proxy was read; its disclosed peer group does not include Ranpak Holdings. Filing ↗
46Section 10a, TriMas reciprocityDEF 14A0001140361-26-012327TriMas's most recent proxy was read; its disclosed peer group does not include Ranpak Holdings. Filing ↗
47Section 10a, CECO Environmental reciprocityDEF 14A0001558370-25-004649CECO Environmental's most recent proxy was read; its disclosed peer group does not include Ranpak Holdings. Filing ↗
48Section 10a, Powell Industries reciprocityDEF 14A0001140361-26-000342Powell Industries's most recent proxy was read; its disclosed peer group does not include Ranpak Holdings. Filing ↗
49Section 10a, Graham Corporation reciprocityDEF 14A0001193125-26-302521Graham Corporation's most recent proxy was read; its disclosed peer group does not include Ranpak Holdings. Filing ↗
50Section 10a, UFP Technologies reciprocityDEF 14A0001628280-26-028710UFP Technologies's most recent proxy was read; its disclosed peer group does not include Ranpak Holdings. Filing ↗