Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2025-07-11

Steelcase (SCS)

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.

$10,173,889
Sara Armbruster total, FY2025
CEO pay percentile vs peers
194:1
CEO-to-median pay ratio
95.91%
Say-on-pay support, latest vote
Companies that benchmark against SCS
9 companies name SCS as a compensation peer

Each company listed discloses SCS 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 SCS in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Sara Armbruster$1,031,250$0$6,254,266$0$2,434,373$123,370$330,630$10,173,889
President and Chief Executive Officer
David Sylvester705,38502,023,88701,011,12223,618165,2283,929,240
Senior Vice President, Chief Financial Officer
Allan Smith668,58701,920,9610958,37521,359156,5583,725,840
Senior Vice President, President, Americas and Chief Product Officer
Lizbeth O'Shaughnessy532,80801,255,0800599,07722,542109,9662,519,473
Former Senior Vice President, Chief Administrative Officer, General Counsel and Secretary
Steven Miller455,6730816,1620512,348091,5351,875,718
Vice President, Chief Technology Officer
Donna Flynn441,7310814,7450496,672085,1011,838,249
Vice President, Chief People 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
Sara Armbruster$10,173,889$6,151,938$4,150,404+4,021,951
David Sylvester3,929,2403,300,5522,309,798+628,688
Allan Smith3,725,8402,461,4911,883,124+1,264,349
Lizbeth O'Shaughnessy2,519,4731,767,2721,603,851+752,201
Steven Miller1,875,718
Donna Flynn1,838,249

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
Donna FlynnPSU2024-04-112,64026,40026,40052,800$344,626
Steven MillerRSU2024-04-1118,000220,320
Steven MillerPSU2024-04-111,6695,5665,56613,35878,759
Allan SmithRSU2024-04-1140,800499,392
David SylvesterPSU2024-04-116,30063,00063,000126,000822,402
Donna FlynnPSU2024-04-113,90013,00013,00031,200171,210
Donna FlynnRSU2024-04-1117,600215,424
Steven MillerPSU2024-04-113,75012,50012,50030,000164,625
Sara ArmbrusterPSU2024-04-1119,690196,900196,900393,8002,570,333
Sara ArmbrusterPSU2024-04-1129,13997,13397,133233,1191,279,242
Sara ArmbrusterPSU2024-04-1116,90956,36656,366135,278797,579
Lizbeth O'ShaughnessyPSU2024-04-113,37011,23411,23426,961158,961
Lizbeth O'ShaughnessyEQUITY2024-04-1120,6006,18049,440271,302
Lizbeth O'ShaughnessyPSU2024-04-113,89038,90038,90077,800507,801
Lizbeth O'ShaughnessyRSU2024-04-1125,900317,016
Allan SmithPSU2024-04-119,21930,73330,73373,759404,754
Allan SmithPSU2024-04-116,12061,20061,200122,400798,905
David SylvesterPSU2024-04-115,49018,30018,30043,920258,945
David SylvesterRSU2024-04-1142,000514,080
Donna FlynnPSU2024-04-111,7705,9005,90014,16083,485
Sara ArmbrusterRSU2024-04-11131,3001,607,112
Steven MillerPSU2024-04-112,70027,00027,00054,000352,458
Lizbeth O'ShaughnessyEQUITY2024-04-1125,90025,900317,016
Allan SmithPSU2024-04-114,62015,40015,40036,960217,910
Lizbeth O'ShaughnessyEQUITY2024-04-1111,2343,37026,961158,961
Lizbeth O'ShaughnessyEQUITY2024-04-1138,9003,89077,800507,801
David SylvesterPSU2024-04-119,75932,53332,53378,079428,460
Lizbeth O'ShaughnessyPSU2024-04-116,18020,60020,60049,440271,302
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Donna Flynn$215,424$599,321$073.6%
Steven Miller220,320595,842073.0%
Allan Smith499,3921,421,569074.0%
David Sylvester514,0801,509,807074.6%
Sara Armbruster1,607,1124,647,154074.3%
Lizbeth O'Shaughnessy317,016938,064074.7%

% 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
David SylvesterRSU42,000$510,720
Sara ArmbrusterRSU393,8004,788,608
Allan SmithRSU40,800496,128
Lizbeth O'ShaughnessyRSU77,800946,048
Lizbeth O'ShaughnessyRSU98,8801,202,381
David SylvesterRSU156,1581,898,881
Sara ArmbrusterRSU131,3001,596,608
Donna FlynnRSU62,400758,784
Lizbeth O'ShaughnessyRSU41,200500,992
Steven MillerRSU18,000218,880
David SylvesterRSU126,0001,532,160
Allan SmithRSU61,500747,840
Donna FlynnRSU52,800642,048
Allan SmithRSU122,4001,488,384
Donna FlynnRSU26,000316,160
Lizbeth O'ShaughnessyRSU25,900314,944
David SylvesterRSU65,100791,616
Steven MillerRSU25,000304,000
Sara ArmbrusterRSU194,3002,362,688
Sara ArmbrusterRSU466,2385,669,454
Allan SmithRSU147,5181,793,819
Steven MillerRSU54,000656,640
Donna FlynnRSU17,600214,016
Steven MillerRSU60,000729,600
05

Incentive-plan design — the Compensation Discussion & Analysis

Our compensation philosophy is designed to value the contribution of our employees, motivate achievement of strategic objectives that will contribute to our success, and share profits through broad-based incentive plans designed to reward enterprise profitability and efficient use of capital. Further, our program principles help us ensure significant alignment between our executives and our shareholders.

CEO STI target (% of salary)125%
CEO LTI target (% of salary)
Independent consultantCompensation Advisory Partners (CAP)
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20252025-07-09239,864,45910,222,6197,150,01695.91%Passed
20242024-07-10257,226,0136,602,70978,89997.5%Passed
20232023-07-12253,633,6956,306,76177,11197.57%Passed
20222022-07-13256,549,58640,522,9442,816,57986.36%Passed
20212021-07-14306,978,2964,625,199455,47598.52%Passed
20202020-07-15302,421,5606,725,03717,687,53697.82%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
20252025-07-0995.91%a
20242024-07-1097.5%b
20232023-07-1297.57%c

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

c. Voting standard not stated in the filing.

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)194 : 1
CEO total compensation
Median employee compensation
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Robert C. Pew IIIIndependent · Board Chair · Executive (Chair)$129,000$193,500$0$322,500
Todd P. KelseyIndependent · Audit (Chair) · Compensation · Executive94,000141,0000235,000
Catherine C. B. SchmelterIndependent · Compensation (Chair) · Executive · Nominating and Corporate Governance92,000138,00001,706231,706
Timothy C. E. BrownIndependent · Corporate Business Development · Executive · Nominating and Corporate Governance (Chair)92,000138,0000230,000
Jennifer C. NiemannNot independent · Corporate Business Development (Chair) · Executive92,000138,0000230,000
Cathy D. RossIndependent · Audit · Nominating and Corporate Governance96,000129,0000225,000
Sanjay GuptaIndependent · Audit · Compensation96,000129,0000225,000
Linda K. WilliamsIndependent · Audit · Compensation96,000129,0000225,000
Connie K. DuckworthIndependent · Corporate Business Development · Nominating and Corporate Governance86,000129,0000215,000
Peter M. Wege IIIndependent · Departed during FY48,00064,50001,478113,978
Kate Pew WoltersIndependent · Departed during FY43,00064,50003,073110,573
Sara E. ArmbrusterEmployee director · Executive00000
09

Board fee structure and ownership guideline

Annual cash retainer$215,000
Annual equity retainer$129,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)20,000 / 15,000 / 15,000
Stock ownership guideline5x the cash portion of the board annual retainer
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$964,000
Equity awards (grant-date value)$1,393,500
All other compensation$6,257
Total cost of the board$2,363,757

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

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
1Steelcase2025Sara Armbruster$1,031,250$6,254,266$0$2,434,373$10,173,889

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.

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, Sara ArmbrusterDEF 14A2025-05-280001050825-25-000082Section “Summary Compensation Table” · page 1. As printed: 10,173,889. Filing ↗machine: span 673033–673043
2Section 01, David SylvesterDEF 14A2025-05-280001050825-25-000082Section “Summary Compensation Table” · page 1. As printed: 3,929,240. Filing ↗machine: span 687875–687884
3Section 01, Allan SmithDEF 14A2025-05-280001050825-25-000082Section “Summary Compensation Table” · page 1. As printed: 3,725,840. Filing ↗machine: span 703684–703693
4Section 01, Lizbeth O'ShaughnessyDEF 14A2025-05-280001050825-25-000082Section “Summary Compensation Table” · page 1. As printed: 2,519,473. Filing ↗machine: span 728949–728958
5Section 01, Steven MillerDEF 14A2025-05-280001050825-25-000082Section “Summary Compensation Table” · page 1. As printed: 1,875,718. Filing ↗machine: span 718305–718314
6Section 01, Donna FlynnDEF 14A2025-05-280001050825-25-000082Section “Summary Compensation Table” · page 1. As printed: 1,838,249. Filing ↗machine: span 723069–723078
7Section 03, Donna Flynn PSUDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r35 · c13 · span 850441–850448
8Section 03, Steven Miller RSUDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r30 · c11 · span 838201–838208
9Section 03, Steven Miller PSUDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r27 · c13 · span 830990–830996
10Section 03, Allan Smith RSUDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r23 · c11 · span 824697–824704
11Section 03, David Sylvester PSUDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r15 · c13 · span 807329–807336
12Section 03, Donna Flynn PSUDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r34 · c13 · span 847475–847482
13Section 03, Donna Flynn RSUDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r36 · c11 · span 852796–852803
14Section 03, Steven Miller PSUDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r28 · c13 · span 833580–833587
15Section 03, Sara Armbruster PSUDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r8 · c13 · span 793212–793221
16Section 03, Sara Armbruster PSUDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r7 · c13 · span 790241–790250
17Section 03, Sara Armbruster PSUDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r6 · c13 · span 787273–787280
18Section 03, Lizbeth O'Shaughnessy PSUDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r40 · c13 · span 859104–859111
19Section 03, Lizbeth O'Shaughnessy EQUITYDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r41 · c13 · span 861695–861702
20Section 03, Lizbeth O'Shaughnessy PSUDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r42 · c13 · span 864286–864293
21Section 03, Lizbeth O'Shaughnessy RSUDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r43 · c11 · span 866316–866323
22Section 03, Allan Smith PSUDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r21 · c13 · span 819375–819382
23Section 03, Allan Smith PSUDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r22 · c13 · span 822342–822349
24Section 03, David Sylvester PSUDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r13 · c13 · span 802146–802153
25Section 03, David Sylvester RSUDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r16 · c11 · span 809359–809366
26Section 03, Donna Flynn PSUDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r33 · c13 · span 844510–844516
27Section 03, Sara Armbruster RSUDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r9 · c11 · span 795570–795579
28Section 03, Steven Miller PSUDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r29 · c13 · span 836171–836178
29Section 03, Lizbeth O'Shaughnessy EQUITYDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r43 · c11 · span 866316–866323
30Section 03, Allan Smith PSUDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r20 · c13 · span 816409–816416
31Section 03, Lizbeth O'Shaughnessy EQUITYDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r40 · c13 · span 859104–859111
32Section 03, Lizbeth O'Shaughnessy EQUITYDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r42 · c13 · span 864286–864293
33Section 03, David Sylvester PSUDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r14 · c13 · span 804737–804744
34Section 03, Lizbeth O'Shaughnessy PSUDEF 14A2025-05-280001050825-25-000082Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t40 · r41 · c13 · span 861695–861702
35Section 07, pay ratioDEF 14A2025-05-280001050825-25-000082Section “CEO Pay Ratio”. As printed: 194 : 1. Filing ↗machine: span 1122653–1122656
36Section 08, Robert C. Pew IIIDEF 14A2025-05-280001050825-25-000082Section “Director Compensation”. As printed: 322,500. Filing ↗machine: t13 · r7 · c14 · span 293025–293032
37Section 08, Todd P. KelseyDEF 14A2025-05-280001050825-25-000082Section “Director Compensation”. As printed: 235,000. Filing ↗machine: t13 · r5 · c14 · span 287838–287845
38Section 08, Catherine C. B. SchmelterDEF 14A2025-05-280001050825-25-000082Section “Director Compensation”. As printed: 231,706. Filing ↗machine: t13 · r9 · c14 · span 298211–298218
39Section 08, Timothy C. E. BrownDEF 14A2025-05-280001050825-25-000082Section “Director Compensation”. As printed: 230,000. Filing ↗machine: t13 · r2 · c14 · span 280039–280046
40Section 08, Jennifer C. NiemannDEF 14A2025-05-280001050825-25-000082Section “Director Compensation”. As printed: 230,000. Filing ↗machine: t13 · r6 · c14 · span 290432–290439
41Section 08, Cathy D. RossDEF 14A2025-05-280001050825-25-000082Section “Director Compensation”. As printed: 225,000. Filing ↗machine: t13 · r8 · c14 · span 295613–295620
42Section 08, Sanjay GuptaDEF 14A2025-05-280001050825-25-000082Section “Director Compensation”. As printed: 225,000. Filing ↗machine: t13 · r4 · c14 · span 285249–285256
43Section 08, Linda K. WilliamsDEF 14A2025-05-280001050825-25-000082Section “Director Compensation”. As printed: 225,000. Filing ↗machine: t13 · r11 · c14 · span 303591–303598
44Section 08, Connie K. DuckworthDEF 14A2025-05-280001050825-25-000082Section “Director Compensation”. As printed: 215,000. Filing ↗machine: t13 · r3 · c14 · span 282633–282640
45Section 08, Peter M. Wege IIDEF 14A2025-05-280001050825-25-000082Section “Director Compensation”. As printed: 113,978. Filing ↗machine: t13 · r10 · c14 · span 300999–301006
46Section 08, Kate Pew WoltersDEF 14A2025-05-280001050825-25-000082Section “Director Compensation”. As printed: 110,573. Filing ↗machine: t13 · r12 · c14 · span 306379–306386
47Section 08, Sara E. ArmbrusterDEF 14A2025-05-280001050825-25-000082Section “Director Compensation”. As printed: 0. Filing ↗
48Section 06, 2025 voteForm 8-K2025-07-110001050825-25-000111Item 5.07 · say-on-pay result. As reported: 95.91% (votes for as printed: 239,864,459). Filing ↗
49Section 06, 2024 voteForm 8-K2024-07-120001050825-24-000123Item 5.07 · say-on-pay result. As reported: 97.5% (votes for as printed: 257,226,013). Filing ↗
50Section 06, 2023 voteForm 8-K2023-07-140001050825-23-000130Item 5.07 · say-on-pay result. As reported: 97.57% (votes for as printed: 253,633,695). Filing ↗
51Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
52Section 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
53Section 09b board cost (computed)ComputedcomputedCash 964,000 + equity 1,393,500 + all other 6,257 = 2,363,757, summed across the director compensation table rows.machine: formula: Σ = 2,363,757
54Steelcase (subject), Section 10b CEO totalDEF 14A2025-05-280001050825-25-000082CEO total compensation as printed in Steelcase's own proxy. As printed: 10,173,889. Filing ↗machine: span 673033–673043