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 REX 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 REX 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 |
|---|---|---|---|---|---|---|---|---|
| Zafar Rizvi | $275,000 | $0 | $1,250,000 | $0 | $3,750,000 | $0 | $200 | $5,275,200 |
| Chief Executive Officer and President | ||||||||
| Douglas Bruggeman | 300,000 | 0 | 625,000 | 0 | 1,875,000 | 0 | 200 | 2,800,200 |
| Vice President-Finance, Chief Financial Officer and Treasurer | ||||||||
| Stuart Rose | 225,000 | 0 | 625,000 | 0 | 1,875,000 | 0 | 0 | 2,725,000 |
| Executive Chairman of the Board | ||||||||
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 |
|---|---|---|---|---|
| Zafar Rizvi | $5,275,200 | — | — | — |
| Douglas Bruggeman | 2,800,200 | — | — | — |
| Stuart Rose | 2,725,000 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Douglas Bruggeman | CFO, VP-Finance, Treasurer | 2026-06-02 | D | 3,000 | $48 | $144,600 | Common | Form 4 ↗ |
| Douglas Bruggeman | CFO, VP-Finance, Treasurer | 2026-06-02 | D | 2,086 | 50 | 103,257 | Common | Form 4 ↗ |
| Stuart A. Rose | Director | 2026-06-08 | D | 13,584 | 45 | 614,396 | Common | Form 4 ↗ |
| Stuart A. Rose | Director | 2026-06-10 | D | 1,129 | 45 | 50,267 | Common | Form 4 ↗ |
| Stuart A. Rose | Director | 2026-06-11 | D | 766 | 44 | 33,811 | Common | Form 4 ↗ |
| David S. Harris | Director | 2026-06-15 | A | 3,144 | 0 | 0 | Common | Form 4 ↗ |
| Douglas Bruggeman | CFO, VP-Finance, Treasurer | 2026-06-15 | A | 20,758 | 0 | 0 | Common | Form 4 ↗ |
| Douglas Bruggeman | CFO, VP-Finance, Treasurer | 2026-06-15 | A | 28,508 | 0 | 0 | Common | Form 4 ↗ |
| Zafar Rizvi | Director | 2026-06-15 | D | 13,838 | 43 | 594,619 | Common | Form 4 ↗ |
| Lee I. Fisher | Director | 2026-06-15 | A | 2,096 | 0 | 0 | Common | Form 4 ↗ |
| Zafar Rizvi | Director | 2026-06-15 | A | 70,980 | 0 | 0 | Common | Form 4 ↗ |
| Edward M. Kress | Director | 2026-06-15 | A | 2,327 | 0 | 0 | Common | Form 4 ↗ |
| Edward M. Kress | Director | 2026-06-15 | A | 2,096 | 0 | 0 | Common | Form 4 ↗ |
| Anne C. MacMillan | Director | 2026-06-15 | A | 2,327 | 0 | 0 | Common | Form 4 ↗ |
| Stuart A. Rose | Director | 2026-06-15 | D | 19,211 | 43 | 825,497 | Common | Form 4 ↗ |
| Lee I. Fisher | Director | 2026-06-15 | A | 2,327 | 0 | 0 | Common | Form 4 ↗ |
| David S. Harris | Director | 2026-06-15 | A | 2,909 | 0 | 0 | Common | Form 4 ↗ |
| Mervyn L. Alphonso | Director | 2026-06-15 | A | 2,327 | 0 | 0 | Common | Form 4 ↗ |
| Anne C. MacMillan | Director | 2026-06-15 | A | 2,096 | 0 | 0 | Common | Form 4 ↗ |
| Cheryl L. Bustos | Director | 2026-06-15 | A | 2,096 | 0 | 0 | Common | Form 4 ↗ |
| Cheryl L. Bustos | Director | 2026-06-15 | A | 2,327 | 0 | 0 | Common | Form 4 ↗ |
| Zafar Rizvi | Director | 2026-06-15 | A | 41,514 | 0 | 0 | Common | Form 4 ↗ |
| Stuart A. Rose | Director | 2026-06-15 | A | 23,064 | 0 | 0 | Common | Form 4 ↗ |
| Stuart A. Rose | Director | 2026-06-15 | A | 28,508 | 0 | 0 | Common | Form 4 ↗ |
| Mervyn L. Alphonso | Director | 2026-06-15 | A | 2,096 | 0 | 0 | Common | Form 4 ↗ |
| Charles A. Elcan | Director | 2026-06-15 | A | 2,096 | 0 | 0 | Common | Form 4 ↗ |
| Charles A. Elcan | Director | 2026-06-15 | A | 2,327 | 0 | 0 | Common | Form 4 ↗ |
| Stuart A. Rose | Director | 2026-06-17 | D | 69,335 | 44 | 3,034,751 | Common | Form 4 ↗ |
| Stuart A. Rose | Director | 2026-06-18 | D | 15,186 | 44 | 662,770 | Common | Form 4 ↗ |
Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Douglas Bruggeman | PSU | — | — | — | — | — | $625,000 |
| Stuart Rose | PSU | — | — | — | — | — | 625,000 |
| Zafar Rizvi | PSU | — | — | — | — | — | 1,250,000 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Douglas Bruggeman | $0 | $625,000 | $0 | 100.0% |
| Stuart Rose | 0 | 625,000 | 0 | 100.0% |
| Zafar Rizvi | 0 | 1,250,000 | 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 |
|---|---|---|---|---|
| Zafar Rizvi | PSU | 69,894 | — | $2,363,116 |
| Stuart Rose | PSU | 22,164 | — | 749,365 |
| Douglas Bruggeman | PSU | 34,948 | — | 1,181,592 |
We believe the compensation policies and practices for our employees do not encourage excessive or inappropriate risk taking and are not reasonably likely to have a material adverse effect on the Company. Our compensation program consists of fixed and variable components. The fixed portion, base salary, provides stable income regardless of Company performance or stock price. The variable portion, annual incentive and restricted stock awards, rewards both short-term and long-term corporate performance.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Independent compensation consultant (unnamed in provided proxy sections; referenced in 2026 Plan section as 'its independent compensation consultant') |
| Clawback policy | True |
| Anti-hedging | — |
| Anti-pledging | True |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-28 | 26,834,576 | 854,974 | 42,452 | 96.91% | Passed |
| 2025 | 2025-06-04 | 11,786,820 | 2,197,529 | 17,134 | 84.29% | Passed |
| 2024 | 2024-06-11 | 13,940,829 | 410,073 | 678,580 | 97.14% | Passed |
| 2023 | 2023-06-15 | 15,146,809 | 123,151 | 9,574 | 99.19% | Passed |
| 2022 | 2022-06-16 | 4,872,700 | 98,777 | 2,090 | 98.01% | Passed |
| 2021 | 2021-06-16 | 4,357,699 | 96,244 | 4,117 | 97.84% | 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 | 2026-05-28 | 96.91%a |
| 2025 | 2025-06-04 | 84.29%b |
| 2024 | 2024-06-11 | 97.14%c |
a. Approved under the standard stated in the filing — “Abstentions and broker non-votes will have no effect.”.
b. Approved under the standard stated in the filing — “Abstentions and broker non-votes will have no effect.”.
c. Approved under the standard stated in the filing — “Abstentions and broker non-votes will have no effect.”.
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) | 73.4 : 1 |
|---|---|
| CEO total compensation | $5,275,200 |
| Median employee compensation | $71,880 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| David S. HarrisIndependent · Lead Independent Director · Audit (Chair) · Compensation | $95,000 | $75,000 | $0 | $0 | $0 | $170,000 |
| Mervyn L. AlphonsoIndependent · Audit · Nominating/Corporate Governance (Chair) | 85,000 | 50,000 | 0 | 0 | 0 | 135,000 |
| Anne C. MacMillanIndependent · Compensation (Chair) | 85,000 | 50,000 | 0 | 0 | 0 | 135,000 |
| Lee I. FisherIndependent · Compensation | 75,000 | 50,000 | 0 | 0 | 0 | 125,000 |
| Charles A. ElcanIndependent · Audit · Compensation | 75,000 | 50,000 | 0 | 0 | 0 | 125,000 |
| Cheryl L. BustosIndependent · Nominating/Governance | 70,000 | 50,000 | 0 | 0 | 0 | 120,000 |
| Edward M. KressNot independent | — | 50,000 | 0 | 0 | 0 | 50,000 |
| Stuart A. RoseEmployee director · Board Chair | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | $70,000 |
|---|---|
| Annual equity retainer | $50,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 10,000 / 10,000 |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $485,000 |
| Equity awards (grant-date value) | $375,000 |
| All other compensation | $0 |
| Total cost of the board | $860,000 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
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 | Rex American Resources | 2025 | Zafar Rizvi | $275,000 | $1,250,000 | $0 | $3,750,000 | $5,275,200 |
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.
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, Zafar Rizvi | DEF 14A | 2026-04-15 | 0000930413-26-001049 | Section “Summary Compensation Table”. As printed: 5,275,200. Filing ↗machine: r1 · c6 · span 126010–126020 |
| 2 | Section 01, Douglas Bruggeman | DEF 14A | 2026-04-15 | 0000930413-26-001049 | Section “Summary Compensation Table”. As printed: 2,800,200. Filing ↗machine: r4 · c6 · span 129869–129879 |
| 3 | Section 01, Stuart Rose | DEF 14A | 2026-04-15 | 0000930413-26-001049 | Section “Summary Compensation Table”. As printed: 2,725,000. Filing ↗machine: r7 · c6 · span 133713–133723 |
| 4 | Section 03, Douglas Bruggeman PSU | DEF 14A | 2026-04-15 | 0000930413-26-001049 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t58 · r6 · c9 · span 153736–153743 |
| 5 | Section 03, Stuart Rose PSU | DEF 14A | 2026-04-15 | 0000930413-26-001049 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t58 · r9 · c9 · span 159898–159905 |
| 6 | Section 03, Zafar Rizvi PSU | DEF 14A | 2026-04-15 | 0000930413-26-001049 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t58 · r3 · c9 · span 147564–147573 |
| 7 | Section 07, pay ratio | DEF 14A | 2026-04-15 | 0000930413-26-001049 | Section “CEO Pay Ratio”. As printed: 73.4 : 1. Filing ↗ |
| 8 | Section 08, David S. Harris | DEF 14A | 2026-04-15 | 0000930413-26-001049 | Section “Director Compensation”. As printed: 170,000. Filing ↗machine: t75 · r3 · c3 · span 203054–203062 |
| 9 | Section 08, Mervyn L. Alphonso | DEF 14A | 2026-04-15 | 0000930413-26-001049 | Section “Director Compensation”. As printed: 135,000. Filing ↗machine: t75 · r4 · c3 · span 203894–203902 |
| 10 | Section 08, Anne C. MacMillan | DEF 14A | 2026-04-15 | 0000930413-26-001049 | Section “Director Compensation”. As printed: 135,000. Filing ↗machine: t75 · r6 · c3 · span 205568–205576 |
| 11 | Section 08, Lee I. Fisher | DEF 14A | 2026-04-15 | 0000930413-26-001049 | Section “Director Compensation”. As printed: 125,000. Filing ↗machine: t75 · r5 · c3 · span 204729–204737 |
| 12 | Section 08, Charles A. Elcan | DEF 14A | 2026-04-15 | 0000930413-26-001049 | Section “Director Compensation”. As printed: 125,000. Filing ↗machine: t75 · r2 · c3 · span 202217–202225 |
| 13 | Section 08, Cheryl L. Bustos | DEF 14A | 2026-04-15 | 0000930413-26-001049 | Section “Director Compensation”. As printed: 120,000. Filing ↗machine: t75 · r7 · c3 · span 206406–206414 |
| 14 | Section 08, Edward M. Kress | DEF 14A | 2026-04-15 | 0000930413-26-001049 | Section “Director Compensation”. As printed: 50,000. Filing ↗machine: t75 · r1 · c2 · span 201176–201182 |
| 15 | Section 08, Stuart A. Rose | DEF 14A | 2026-04-15 | 0000930413-26-001049 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 16 | Section 02, Douglas Bruggeman 2026-06-02 | Form 4 | 2026-06-03 | 0001236077-26-000004 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 17 | Section 02, Douglas Bruggeman 2026-06-02 | Form 4 | 2026-06-03 | 0001236077-26-000004 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 18 | Section 02, Stuart A. Rose 2026-06-08 | Form 4 | 2026-06-10 | 0000936969-26-000003 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 19 | Section 02, Stuart A. Rose 2026-06-10 | Form 4 | 2026-06-11 | 0000936969-26-000004 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 20 | Section 02, Stuart A. Rose 2026-06-11 | Form 4 | 2026-06-15 | 0000936969-26-000005 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 21 | Section 02, David S. Harris 2026-06-15 | Form 4 | 2026-06-17 | 0001213622-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 22 | Section 02, Douglas Bruggeman 2026-06-15 | Form 4 | 2026-06-17 | 0001236077-26-000005 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 23 | Section 02, Douglas Bruggeman 2026-06-15 | Form 4 | 2026-06-17 | 0001236077-26-000005 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 24 | Section 02, Zafar Rizvi 2026-06-15 | Form 4 | 2026-06-17 | 0001328854-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 25 | Section 02, Lee I. Fisher 2026-06-15 | Form 4 | 2026-06-17 | 0001224366-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 26 | Section 02, Zafar Rizvi 2026-06-15 | Form 4 | 2026-06-17 | 0001328854-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 27 | Section 02, Edward M. Kress 2026-06-15 | Form 4 | 2026-06-17 | 0001233683-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 28 | Section 02, Edward M. Kress 2026-06-15 | Form 4 | 2026-06-17 | 0001233683-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 29 | Section 02, Anne C. MacMillan 2026-06-15 | Form 4 | 2026-06-17 | 0001779741-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 30 | Section 02, Stuart A. Rose 2026-06-15 | Form 4 | 2026-06-17 | 0000936969-26-000006 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 31 | Section 02, Lee I. Fisher 2026-06-15 | Form 4 | 2026-06-17 | 0001224366-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 32 | Section 02, David S. Harris 2026-06-15 | Form 4 | 2026-06-17 | 0001213622-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 33 | Section 02, Mervyn L. Alphonso 2026-06-15 | Form 4 | 2026-06-17 | 0001386806-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 34 | Section 02, Anne C. MacMillan 2026-06-15 | Form 4 | 2026-06-17 | 0001779741-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 35 | Section 02, Cheryl L. Bustos 2026-06-15 | Form 4 | 2026-06-17 | 0001965986-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 36 | Section 02, Cheryl L. Bustos 2026-06-15 | Form 4 | 2026-06-17 | 0001965986-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 37 | Section 02, Zafar Rizvi 2026-06-15 | Form 4 | 2026-06-17 | 0001328854-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 38 | Section 02, Stuart A. Rose 2026-06-15 | Form 4 | 2026-06-17 | 0000936969-26-000006 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 39 | Section 02, Stuart A. Rose 2026-06-15 | Form 4 | 2026-06-17 | 0000936969-26-000006 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 40 | Section 02, Mervyn L. Alphonso 2026-06-15 | Form 4 | 2026-06-17 | 0001386806-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 41 | Section 02, Charles A. Elcan 2026-06-15 | Form 4 | 2026-06-17 | 0001234607-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 42 | Section 02, Charles A. Elcan 2026-06-15 | Form 4 | 2026-06-17 | 0001234607-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 43 | Section 02, Stuart A. Rose 2026-06-17 | Form 4 | 2026-06-18 | 0000936969-26-000007 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 44 | Section 02, Stuart A. Rose 2026-06-18 | Form 4 | 2026-06-22 | 0000936969-26-000008 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 45 | Section 06, 2026 vote | Form 8-K | 2026-06-03 | 0000930413-26-001789 | Item 5.07 · say-on-pay result. As reported: 96.91% (votes for as printed: 26,834,576). Filing ↗ |
| 46 | Section 06, 2025 vote | Form 8-K | 2025-06-05 | 0000930413-25-001949 | Item 5.07 · say-on-pay result. As reported: 84.29% (votes for as printed: 11,786,820). Filing ↗ |
| 47 | Section 06, 2024 vote | Form 8-K | 2024-06-14 | 0000930413-24-001873 | Item 5.07 · say-on-pay result. As reported: 97.14% (votes for as printed: 13,940,829). Filing ↗ |
| 48 | 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 |
| 49 | Section 09b board cost (computed) | Computed | — | computed | Cash 485,000 + equity 375,000 + all other 0 = 860,000, summed across the director compensation table rows.machine: formula: Σ = 860,000 |
| 50 | Rex American Resources (subject), Section 10b CEO total | DEF 14A | 2026-04-15 | 0000930413-26-001049 | CEO total compensation as printed in Rex American Resources's own proxy. As printed: 5,275,200. Filing ↗machine: r1 · c6 · span 126010–126020 |