Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-03-12

StoneX Group (SNEX)

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.

$44,669,722
Sean O'Connor total, FY2025
Executive Vice-Chairmanhighest-paid officer; CEO Philip Smith: $5,004,047
CEO (Philip Smith) pay percentile vs peers
53:1
CEO-to-median pay ratio
89.52%
Say-on-pay support, latest vote
Companies that benchmark against SNEX
No companies currently name SNEX 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
Sean O'Connor$2,000,000$0$41,298,178$0$1,335,943$0$35,601$44,669,722
Executive Vice-Chairman
Gregory Kallinikos334,451005,324,4002,800,0000270,8818,729,732
Chief Executive Officer - Asia Pacific
Stuart Davison326,6210234,0656,362,550618,24409,2457,550,725
Chief Operating Officer
Philip Smith512,74901,961,47502,516,768013,0555,004,047
Chief Executive Officer
William Dunaway375,0000698,36102,459,907014,8673,548,135
Chief Financial 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
Sean O'Connor$44,669,722$18,527,715$6,518,006+26,142,007
Gregory Kallinikos8,729,732
Stuart Davison7,550,725
Philip Smith5,004,04710,432,7384,202,688−5,428,691
William Dunaway3,548,1357,544,5323,716,150−3,996,397

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
Stuart DavisonOPTION2025-03-05202,500$6,362,550
Gregory KallinikosOPTION2025-06-04180,0005,324,400
Sean O'Connor2025-03-31225,000337,500225,000
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Stuart Davison$0$0$6,362,5500.0%
Gregory Kallinikos005,324,4000.0%

% 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
Sean O'ConnorOption225,00047.57
Sean O'ConnorRSU225,00022,707,000
Gregory KallinikosOption180,00083.8
William DunawayRSU8,937901,922
Philip SmithOption45,00020
Philip SmithRSU36,9513,729,095
Sean O'ConnorRSU30,7073,098,950
William DunawayRSU16,1531,630,161
Philip SmithRSU9,721981,043
Sean O'ConnorRSU6,617667,788
Philip SmithRSU23,0852,329,738
Sean O'ConnorRSU17,0581,721,493
William DunawayRSU3,461349,284
William DunawayOption45,00020
Sean O'ConnorRSU75,0007,569,000
Sean O'ConnorOption450,00042.84
Philip SmithOption337,50042.84
William DunawayOption225,00042.84
Stuart DavisonOption202,50078.68
05

Incentive-plan design — the Compensation Discussion & Analysis

The Company designed its executive compensation program to reflect its need to attract and retain executives with specific skills and experience in the various businesses and functions operated by the Company... The Company also designed its executive compensation program to reward executives based on their contributions to the Company's success. The Compensation Committee believes that a compensation program which relies heavily on performance-based compensation will both maximize the efforts of the Company's executives and align the interests of executives with those of stockholders.

CEO STI target (% of salary)585%
CEO LTI target (% of salary)
Independent consultantnot disclosed
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingFalse
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-03-1038,245,1704,448,70730,64789.52%Passed
20252025-03-0522,763,1923,712,47414,24085.93%Passed
20242024-02-2725,159,394431,0199,56998.28%Passed
20222022-03-0415,662,303790,71550,46594.9%Passed
20212021-02-2515,787,9871,094,88665,29893.51%Passed
20192019-02-1314,283,1521,065,8686,82293.06%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
20262026-03-1089.52%a
20252025-03-0585.93%b
20242024-02-2798.28%c

a. Approved under the standard stated in the filing — “Abstentions will be counted as votes against the proposal.”.

b. Approved under the standard stated in the filing — “Abstentions will be counted as votes against the proposal.”.

c. Approved under the standard stated in the filing — “Abstentions will be counted as votes 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.

07

CEO pay ratio

Ratio (CEO : median employee)53 : 1
CEO total compensation$5,004,047
Median employee compensation$95,131
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
John RadziwillIndependent · Board Chair · Board Chair$119,000$188,201$0$0$0$307,201
John M. FowlerIndependent · Compensation (Chair) · Risk · Nominating and Governance94,500174,270000268,770
Steven KassIndependent · Audit (Chair) · Nominating and Governance94,500174,270000268,770
Diane CooperIndependent · Audit · Risk (Chair) · Technology and Operations108,000147,220000255,220
Eric ParthemoreIndependent · Compensation · Nominating and Governance (Chair)135,000120,016000255,016
Annabelle BexigaIndependent · Compensation · Technology and Operations (Chair)135,000120,016000255,016
Dhamu ThamodaranIndependent · Audit · Risk · Technology and Operations77,000164,208000241,208
Philip SmithEmployee director00000
Charles LyonEmployee director00000
Sean O'ConnorEmployee director00000
09

Board fee structure and ownership guideline

Annual cash retainer$110,000
Annual equity retainer$120,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)25,000 / 25,000 / 25,000
Stock ownership guideline3x annual cash compensation
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$763,000
Equity awards (grant-date value)$1,088,201
All other compensation$0
Total cost of the board$1,851,201

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
1StoneX Group2025Philip Smith$512,749$1,961,475$0$2,516,768$5,004,047

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, Sean O'ConnorDEF 14A2026-01-260000913760-26-000006Section “Fiscal Year 2025 Summary Compensation Table”. As printed: 44,669,722. Filing ↗machine: r10 · c27 · span 323854–323864
2Section 01, Gregory KallinikosDEF 14A2026-01-260000913760-26-000006Section “Fiscal Year 2025 Summary Compensation Table”. As printed: 8,729,732. Filing ↗machine: r18 · c27 · span 335834–335843
3Section 01, Stuart DavisonDEF 14A2026-01-260000913760-26-000006Section “Fiscal Year 2025 Summary Compensation Table”. As printed: 7,550,725. Filing ↗machine: r22 · c27 · span 340960–340969
4Section 01, Philip SmithDEF 14A2026-01-260000913760-26-000006Section “Fiscal Year 2025 Summary Compensation Table”. As printed: 5,004,047. Filing ↗machine: r2 · c27 · span 303115–303124
5Section 01, William DunawayDEF 14A2026-01-260000913760-26-000006Section “Fiscal Year 2025 Summary Compensation Table”. As printed: 3,548,135. Filing ↗machine: r6 · c27 · span 313585–313594
6Section 03, Stuart Davison OPTIONDEF 14A2026-01-260000913760-26-000006Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t6 · r22 · c10 · span 391323–391330
7Section 03, Gregory Kallinikos OPTIONDEF 14A2026-01-260000913760-26-000006Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t6 · r19 · c10 · span 385105–385112
8Section 03, Sean O'Connor DEF 14A2026-01-260000913760-26-000006Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t6 · r12 · c7 · span 377431–377438
9Section 07, pay ratioDEF 14A2026-01-260000913760-26-000006Section “CEO Pay Ratio”. As printed: 53 : 1. Filing ↗machine: span 579338–579340
10Section 08, John RadziwillDEF 14A2026-01-260000913760-26-000006Section “Director Compensation”. As printed: 307,201. Filing ↗machine: t14 · r7 · c15 · span 710214–710221
11Section 08, John M. FowlerDEF 14A2026-01-260000913760-26-000006Section “Director Compensation”. As printed: 268,770. Filing ↗machine: t14 · r4 · c15 · span 702150–702157
12Section 08, Steven KassDEF 14A2026-01-260000913760-26-000006Section “Director Compensation”. As printed: 268,770. Filing ↗machine: t14 · r5 · c15 · span 704835–704842
13Section 08, Diane CooperDEF 14A2026-01-260000913760-26-000006Section “Director Compensation”. As printed: 255,220. Filing ↗machine: t14 · r3 · c15 · span 699462–699469
14Section 08, Eric ParthemoreDEF 14A2026-01-260000913760-26-000006Section “Director Compensation”. As printed: 255,016. Filing ↗machine: t14 · r6 · c15 · span 707525–707532
15Section 08, Annabelle BexigaDEF 14A2026-01-260000913760-26-000006Section “Director Compensation”. As printed: 255,016. Filing ↗machine: t14 · r2 · c15 · span 696746–696753
16Section 08, Dhamu ThamodaranDEF 14A2026-01-260000913760-26-000006Section “Director Compensation”. As printed: 241,208. Filing ↗machine: t14 · r8 · c15 · span 712904–712911
17Section 08, Philip SmithDEF 14A2026-01-260000913760-26-000006Section “Director Compensation”. As printed: 0. Filing ↗
18Section 08, Charles LyonDEF 14A2026-01-260000913760-26-000006Section “Director Compensation”. As printed: 0. Filing ↗
19Section 08, Sean O'ConnorDEF 14A2026-01-260000913760-26-000006Section “Director Compensation”. As printed: 0. Filing ↗
20Section 06, 2026 voteForm 8-K2026-03-120000913760-26-000021Item 5.07 · say-on-pay result. As reported: 89.52% (votes for as printed: 38,245,170). Filing ↗
21Section 06, 2025 voteForm 8-K2025-03-100000913760-25-000051Item 5.07 · say-on-pay result. As reported: 85.93% (votes for as printed: 22,763,192). Filing ↗
22Section 06, 2024 voteForm 8-K2024-03-040000913760-24-000058Item 5.07 · say-on-pay result. As reported: 98.28% (votes for as printed: 25,159,394). Filing ↗
23Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
24Section 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
25Section 09b board cost (computed)ComputedcomputedCash 763,000 + equity 1,088,201 + all other 0 = 1,851,201, summed across the director compensation table rows.machine: formula: Σ = 1,851,201
26StoneX Group (subject), Section 10b CEO totalDEF 14A2026-01-260000913760-26-000006CEO total compensation as printed in StoneX Group's own proxy. As printed: 5,004,047. Filing ↗machine: r2 · c27 · span 303115–303124