Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-04-22

Seaboard (SEB)

CEO Robert Steer was paid $7,003,834 in fiscal year 2025, ↑ up 13.3% from fiscal year 2024 (SEC filing 0000088121-26-000025 ↗): 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.

$7,003,834 ↑
Robert Steer total, FY2025
—
CEO pay percentile vs peers
—
CEO-to-median pay ratio
92.65%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Robert Steer (President, Chief Executive Officer), FY2025 total compensation $7,003,834 (base salary $1,179,000) [exec_comp, SEC accession 0000088121-26-000025, filed 2026-03-06]

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SEB's next annual pay disclosure, estimated March 6, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Robert Steer$1,179,000$3,500,000———$2,052,795$272,039$7,003,834
President, Chief Executive Officer
Edward Gonzalez670,0002,100,000000173,580166,1323,109,712
President, Seaboard Marine Ltd.
David Rankin556,000700,000000513,805107,5791,877,384
Executive Vice President, Chief Financial Officer
Jacob Bresky491,0001,000,0000000113,3621,604,362
President, Seaboard Overseas Trading Group
Chad Groves525,000945,0000000119,0771,589,077
President, Seaboard Foods LLC

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
Robert Steer$7,003,834$6,183,621$5,678,799↑ +820,213
Edward Gonzalez3,109,7122,637,5902,812,754↑ +472,122
David Rankin1,877,3841,551,2741,294,183↑ +326,110
Jacob Bresky1,604,3621,488,7771,357,097↑ +115,585
Chad Groves1,589,077———

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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Companies that benchmark against SEB
2 companies name SEB as a compensation peer

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

01b

Executives — the named officers

One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.

ExecutiveRoleFY2025 total
Chad GrovesPresident$1,589,077
Edward GonzalezPresident$3,109,712
Jacob BreskyPresident$1,604,362
David RankinCFO$1,877,384
01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
David A. AdamsenIndependent Director$90,000
Douglas W. BaenaIndependent Director$130,000
Ellen S. BreskyChair of the Board$265,021
Frances B. ShifmanIndependent Director$90,000
Paul M. SquiresIndependent Director$80,000
02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

05

Incentive-plan design — the Compensation Discussion & Analysis

Seaboard maintains the philosophy that the compensation for its executive officers should reflect that these officers are responsible for implementing Seaboard’s long-term strategic objectives. The compensation of the executive officers is designed to ensure that Seaboard maintains its ability to attract and retain superior employees in key positions, and that compensation provided to key employees remains competitive relative to compensation paid to similarly situated executives of our peer companies.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultant—
Clawback policytrue
Anti-hedgingfalse
Anti-pledgingfalse
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-04-20832,49066,0622,51092.65%Passed
20232023-04-241,055,63057,17093394.78%Passed
20202020-04-271,107,3135,0623,10299.54%Passed
20172017-04-241,119,9504,7581,07699.58%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
20262026-04-2092.65%a
20232023-04-2494.78%b
20202020-04-2799.54%c

a. Voting standard not stated in the filing.

b. Approved under the standard stated in the filing — “An abstention will count as a vote cast and will therefore have the same effect as a vote against this proposal.”.

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.

08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Ellen S. BreskyNot independent · Board Chair$150,000———$115,021$265,021
Douglas W. BaenaIndependent · Audit (Chair)130,000———0130,000
Frances B. ShifmanIndependent · Audit90,000———090,000
David A. AdamsenIndependent · Audit90,000———090,000
Paul M. SquiresIndependent80,000———080,000
09

Board fee structure and ownership guideline

Annual cash retainer$90,000
Annual equity retainer—
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)—
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$540,000
Equity awards (grant-date value)$0
All other compensation$115,021
Total cost of the board$655,021

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
1Seaboard2025Robert Steer$1,179,000———$7,003,834

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.

10d

Frequently asked questions

Who was the highest-paid executive at Seaboard in fiscal 2025?
As disclosed, Robert Steer (President, Chief Executive Officer) was the highest-paid executive at Seaboard in fiscal 2025, with total compensation of $7,003,834.
How did shareholders vote on Seaboard's executive compensation?
As disclosed, 92.65% of shareholders supported Seaboard's executive compensation in the latest say-on-pay vote.
How much does Seaboard spend in total on board compensation for fiscal 2025?
As disclosed, Seaboard reported total board compensation of $655,021 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.

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, Robert SteerDEF 14A2026-03-060000088121-26-000025Section “Executive Compensation”. As printed: 7,003,834. Filing ↗
2Section 01, Edward GonzalezDEF 14A2026-03-060000088121-26-000025Section “Executive Compensation”. As printed: 3,109,712. Filing ↗
3Section 01, David RankinDEF 14A2026-03-060000088121-26-000025Section “Executive Compensation”. As printed: 1,877,384. Filing ↗
4Section 01, Jacob BreskyDEF 14A2026-03-060000088121-26-000025Section “Executive Compensation”. As printed: 1,604,362. Filing ↗
5Section 01, Chad GrovesDEF 14A2026-03-060000088121-26-000025Section “Executive Compensation”. As printed: 1,589,077. Filing ↗
6Section 08, Ellen S. BreskyDEF 14A2026-03-060000088121-26-000025Section “Director Compensation”. As printed: 265,021. Filing ↗machine: span 182010–182157
7Section 08, Douglas W. BaenaDEF 14A2026-03-060000088121-26-000025Section “Director Compensation”. As printed: 130,000. Filing ↗machine: span 182992–183139
8Section 08, Frances B. ShifmanDEF 14A2026-03-060000088121-26-000025Section “Director Compensation”. As printed: 90,000. Filing ↗machine: span 189177–189323
9Section 08, David A. AdamsenDEF 14A2026-03-060000088121-26-000025Section “Director Compensation”. As printed: 90,000. Filing ↗machine: span 186045–186191
10Section 08, Paul M. SquiresDEF 14A2026-03-060000088121-26-000025Section “Director Compensation”. As printed: 80,000. Filing ↗machine: span 192230–192376
11Section 06, 2026 voteForm 8-K2026-04-220000088121-26-000031Item 5.07 · say-on-pay result. As reported: 92.65% (votes for as printed: 832,490). Filing ↗
12Section 06, 2023 voteForm 8-K2023-04-270000088121-23-000048Item 5.07 · say-on-pay result. As reported: 94.78% (votes for as printed: 1,055,630). Filing ↗
13Section 06, 2020 voteForm 8-K2020-04-280000088121-20-000040Item 5.07 · say-on-pay result. As reported: 99.54% (votes for as printed: 1,107,313). Filing ↗
14Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
15Section 09b board cost (computed)Computed——Cash 540,000 + equity 0 + all other 115,021 = 655,021, summed across the director compensation table rows.machine: formula: Σ = 655,021
16Seaboard (subject), Section 10b CEO totalDEF 14A2026-03-060000088121-26-000025CEO total compensation as printed in Seaboard's own proxy. As printed: 7,003,834. Filing ↗

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