Companies Spire Inc
Spire (SR): executive pay, fiscal 2025
Free brief. Every figure links to the company’s own filing.
Velarion Intel: free for 3 days, no card →Email me Spire Inc’s executive pay brief as a PDF
You get it on this page the moment you ask, and a copy by email. Every figure is cited to its filing.
After the PDF, up to three short notes on the deeper reports for this company. Reply “unsubscribe” to any of them, any time.
CEO vs. named peers1st pct.Of 28 peer CEOs
CEO pay, last three years
- $1,841,561FY2024
- $3,328,340FY2025
CEO total pay was $3,328,340 in fiscal 2025, up from $1,841,561 in fiscal 2024.
FY2025: salary $701,346 · bonus $0 · stock awards $1,818,179 · option awards $0
Executives and directors
Matthew Aplington · General CounselRyan Hyman · SVPScott Doyle · CEOStephen Mills · SVPSteven Lindsey · CEOSteven Rasche · CFOAdam Woodard · CFOBrenda D. Newberry · Independent DirectorCarrie J. Hightman · Independent DirectorJohn P. Stupp Jr · Independent DirectorMaria V. Fogarty · Independent DirectorMark A. Borer · Independent DirectorPaul D. Koonce · Independent DirectorRob L. Jones · Chair of the BoardSheri S. Cook · Independent DirectorVinny J. Ferrari · Independent Director
Frequently asked questions
Who was the highest-paid executive at Spire Inc in fiscal 2025?
As disclosed, Steven Lindsey (Former President and Chief Executive Officer) was the highest-paid executive at Spire Inc in fiscal 2025, with total compensation of $5,066,799.
How does Spire Inc's chief executive pay compare to its disclosed peer group?
As disclosed, Scott Doyle's total compensation ranked at the 1st percentile of Spire Inc's disclosed peer group.
What is Spire Inc's CEO-to-median employee pay ratio?
As disclosed, Spire Inc's CEO-to-median employee pay ratio was 32:1.
How did shareholders vote on Spire Inc's executive compensation?
As disclosed, 98.41% of shareholders supported Spire Inc's executive compensation in the latest say-on-pay vote.
How much does Spire Inc spend in total on board compensation for fiscal 2025?
As disclosed, Spire Inc reported total board compensation of $2,238,235 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.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Steven Lindsey | $497,308 | $0 | $1,873,940 | $0 | $0 | $162,738 | $2,532,813 | $5,066,799 |
| Former President and Chief Executive Officer | ||||||||
| Scott Doyle | 701,346 | 0 | 1,818,179 | 0 | 650,978 | 101,482 | 56,355 | 3,328,340 |
| President and Chief Executive Officer | ||||||||
| Steven Rasche | 261,573 | 0 | 703,186 | 0 | 160,941 | 95,868 | 98,859 | 1,320,427 |
| Former Executive Vice President, Chief Financial Officer | ||||||||
| Adam Woodard | 385,115 | 0 | 416,933 | 0 | 175,769 | 46,449 | 43,293 | 1,067,559 |
| Executive Vice President, Chief Financial Officer | ||||||||
| Matthew Aplington | 358,675 | 0 | 395,784 | 0 | 167,536 | 24,003 | 32,439 | 978,437 |
| Senior Vice President, Chief Legal Officer | ||||||||
| Ryan Hyman | 400,189 | 0 | 219,061 | 0 | 186,081 | 40,573 | 49,379 | 895,283 |
| Senior Vice President, Chief Customer and Information Officer | ||||||||
| Stephen Mills | 331,837 | 0 | 234,892 | 0 | 147,932 | 52,054 | 45,278 | 811,993 |
| Senior Vice President, President, Spire Missouri Inc. | ||||||||
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 officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Steven Lindsey | $5,066,799 | $3,398,930 | $2,089,765 | ↑ +1,667,869 |
| Scott Doyle | 3,328,340 | 1,841,561 | — | ↑ +1,486,779 |
| Steven Rasche | 1,320,427 | 1,785,487 | 1,584,202 | ↓ −465,060 |
| Adam Woodard | 1,067,559 | — | — | — |
| Matthew Aplington | 978,437 | — | — | — |
| Ryan Hyman | 895,283 | 932,741 | — | ↓ −37,458 |
| Stephen Mills | 811,993 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
Our pay-for-performance compensation philosophy promotes our corporate strategy and shareholder value, while remaining equitable for the Company, its executives and its shareholders. The Company's compensation philosophy is to position target total compensation in the median range of peer comparator data, with consideration for the executive's performance, skills and experience, and allow realized pay to be positioned higher or lower dependent on Company results.
| CEO STI target (% of salary) | 100% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Semler Brossy Consulting Group LLC |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | True |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Adam Woodard | PSU | 2024-11-22 | 2,070 | 4,140 | 1,380 | 8,280 | $416,933 |
| Ryan Hyman | PSU | 2024-11-22 | 1,090 | 2,180 | 720 | 4,360 | 219,061 |
| Scott Doyle | PSU | 2024-11-22 | 3,360 | 6,720 | 2,240 | 13,440 | 676,760 |
| Stephen Mills | PSU | 2024-11-22 | 1,165 | 2,330 | 780 | 4,660 | 234,892 |
| Steven Rasche | PSU | 2024-11-22 | 3,490 | 6,980 | 2,330 | 13,960 | 703,186 |
| Scott Doyle | PSU | 2025-05-02 | 5,150 | 10,300 | 3,430 | 20,600 | 1,141,419 |
| Steven Lindsey | PSU | 2024-11-22 | 9,305 | 18,610 | 6,200 | 37,220 | 1,873,940 |
| Matthew Aplington | PSU | 2024-11-22 | 1,965 | 3,930 | 1,310 | 7,860 | 395,784 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Adam Woodard | $0 | $416,933 | $0 | 100.0% |
| Ryan Hyman | 0 | 219,061 | 0 | 100.0% |
| Scott Doyle | 0 | 1,818,179 | 0 | 100.0% |
| Stephen Mills | 0 | 234,892 | 0 | 100.0% |
| Steven Rasche | 0 | 703,186 | 0 | 100.0% |
| Steven Lindsey | 0 | 1,873,940 | 0 | 100.0% |
| Matthew Aplington | 0 | 395,784 | 0 | 100.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Matthew Aplington | PSU | 5,028 | — | $416,771 |
| Stephen Mills | PSU | 10,048 | — | 832,879 |
| Adam Woodard | PSU | 12,511 | — | 1,037,037 |
| Steven Rasche | RSU | 12,534 | — | 1,038,943 |
| Stephen Mills | RSU | 14,438 | — | 1,196,766 |
| Steven Rasche | RSU | 16,802 | — | 1,392,718 |
| Scott Doyle | RSU | 16,973 | — | 1,406,892 |
| Steven Lindsey | RSU | 17,250 | — | 1,429,852 |
| Matthew Aplington | RSU | 17,546 | — | 1,454,388 |
| Ryan Hyman | RSU | 17,869 | — | 1,481,161 |
| Adam Woodard | RSU | 19,936 | — | 1,652,495 |
| Ryan Hyman | PSU | 20,995 | — | 1,740,276 |
| Steven Lindsey | PSU | 30,275 | — | 2,509,495 |
| Steven Rasche | RSU | 87,026 | — | 7,213,585 |
| Steven Rasche | PSU | 95,868 | — | 7,946,499 |
| Steven Lindsey | RSU | 162,102 | — | 13,436,635 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Rob L. JonesIndependent · Board Chair · Audit · Strategy (Chair) | $225,000 | $124,915 | $0 | $0 | $0 | $349,915 |
| Mark A. BorerIndependent · Compensation and Human Resources (Chair) · Strategy | 121,000 | 124,915 | 0 | 0 | — | 261,779 |
| Maria V. FogartyIndependent · Audit (Chair) · Compensation and Human Resources | 123,000 | 124,915 | 0 | 0 | — | 256,760 |
| Brenda D. NewberryIndependent · Audit · Corporate Governance (Chair) | 120,000 | 124,915 | 0 | 0 | — | 253,693 |
| Carrie J. HightmanIndependent · Corporate Governance · Strategy | 105,000 | 124,915 | 0 | 0 | 0 | 229,915 |
| John P. Stupp JrIndependent · Compensation and Human Resources · Corporate Governance · Not standing for re-election | 105,000 | 124,915 | 0 | 0 | 0 | 229,915 |
| Sheri S. CookIndependent · Audit · Compensation and Human Resources | 105,000 | 124,915 | 0 | 0 | 0 | 229,915 |
| Paul D. KoonceIndependent · Corporate Governance · Strategy | 105,000 | 124,915 | 0 | 0 | 0 | 229,915 |
| Vinny J. FerrariIndependent · Audit · Compensation and Human Resources | 105,000 | 124,915 | 0 | 0 | 0 | 229,915 |
| Scott E. DoyleEmployee director | 0 | 0 | 0 | — | 0 | 0 |
Board fee structure and ownership guideline
| Annual cash retainer | $105,000 |
|---|---|
| Annual equity retainer | $125,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 18,000 / 16,000 / 15,000 |
| Stock ownership guideline | $6 |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $1,114,000 |
| Equity awards (grant-date value) | $1,124,235 |
| All other compensation | $0 |
| Total cost of the board | $2,238,235 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Spire as a peer
Companies that benchmark against SR
12 companies name SR as a compensation peer
- ATMOS ENERGY CORPATOFY2025
- AVISTA CORPAVAFY2025
- BLACK HILLS CORP /SD/BKHFY2025
- CHESAPEAKE UTILITIES CORPCPKFY2025
- IDACORP INCIDAFY2025
- MDU RESOURCES GROUP INCMDUFY2025
- NATIONAL FUEL GAS CONFGFY2025
- NISOURCE INC.NIFY2025
- Northwest Natural Holding CoNWNFY2025
- NorthWestern Energy Group, Inc.NWEFY2025
- ONE Gas, Inc.OGSFY2025
- Southwest Gas Holdings, Inc.SWXFY2025
Each company listed discloses SR 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 SR in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
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.
LNT Alliant Energy Corp.AMT AmericanAVA Avista Corp.CNP CenterPoint Energy, Inc.EVRG Evergy, Inc.OGS ONE Gas, Inc.NI NiSource Inc.NWE NorthWestern Corp.BKH Black Hills Corp.ATO Atmos Energy Corp.NJR New Jersey Resources Corp.AEE Ameren Corp.ALE ALLETE, Inc.AWK Water Works Company, Inc.WTRG Essential Utilities, Inc.HE Hawaiian Electric Industries, Inc.IDA IDACORP, Inc.MDU MDU Resources Group, Inc.MGEE MGE Energy, Inc.NFG National Fuel Gas CompanyOGE OGE Energy Corp.PNW Pinnacle West Capital Corp.TXNM PNM Resources, Inc.POR PortlandGE General Electric CompanySJI South Jersey Industries, Inc.SWX Southwest Gas Holdings, Inc.UGI UGI Corporation
Peer reciprocity
The companies Spire Inc names as compensation peers that name it back in their own disclosed peer groups.
Avista Corp. (AVA)77ONE Gas, Inc. (OGS)78NiSource Inc. (NI)79NorthWestern Corp. (NWE)80Black Hills Corp. (BKH)81Atmos Energy Corp. (ATO)82IDACORP, Inc. (IDA)83MDU Resources Group, Inc. (MDU)84National Fuel Gas Company (NFG)85Southwest Gas Holdings, Inc. (SWX)86
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.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | General Electric Company | 2025 | H. Lawrence Culp Jr. | $2,000,000 | $27,564,925 | $4,575,005 | $7,520,000 | $45,616,160 |
| 2 | American | 2025 | Steven Vondran | 1,000,000 | 11,528,748 | 0 | 2,280,000 | 14,854,505 |
| 3 | Ameren Corp. | 2025 | Martin Lyons | 1,325,000 | 8,205,550 | 0 | 3,330,000 | 14,056,510 |
| 4 | NiSource Inc. | 2025 | Lloyd Yates | 1,191,667 | 9,619,864 | 0 | 2,261,784 | 13,197,800 |
| 5 | CenterPoint Energy, Inc. | 2025 | Jason Wells | 1,226,923 | 7,625,023 | 0 | 2,583,750 | 12,092,341 |
| 6 | OGE Energy Corp. | 2025 | Sean Trauschke | 1,239,372 | 5,811,824 | 0 | 1,753,487 | 12,032,007 |
| 7 | Southwest Gas Holdings, Inc. | 2025 | Karen Haller | 1,090,685 | 5,776,085 | 0 | 1,861,200 | 10,029,409 |
| 8 | Atmos Energy Corp. | 2025 | J. Kevin Akers | 1,147,802 | 5,179,057 | 0 | 2,100,572 | 9,953,274 |
| 9 | Evergy, Inc. | 2025 | David Campbell | 1,123,142 | 7,004,446 | 0 | 1,342,969 | 9,537,018 |
| 10 | Essential Utilities, Inc. | 2025 | Christopher Franklin | 1,103,931 | 3,366,470 | 652,838 | 2,218,607 | 9,212,815 |
| 11 | National Fuel Gas Company | 2025 | David Bauer | 1,095,000 | 4,170,593 | 0 | 1,881,347 | 9,119,455 |
| 12 | Alliant Energy Corp. | 2025 | Lisa Barton | 1,136,937 | 5,471,255 | 0 | 1,835,563 | 8,999,073 |
| 13 | UGI Corporation | 2025 | Robert Flexon | 1,021,722 | 5,426,950 | 0 | 1,843,474 | 8,991,090 |
| 14 | Pinnacle West Capital Corp. | 2025 | Theodore Geisler | 938,356 | 5,257,108 | 0 | 1,853,040 | 8,414,652 |
| 15 | Portland | 2025 | Maria Pope | 1,205,111 | 4,549,047 | 0 | 1,235,019 | 7,583,877 |
| 16 | Idacorp, Inc. | 2025 | Lisa Grow | 1,050,000 | 2,942,308 | 0 | 1,785,001 | 7,529,892 |
| 17 | Water Works Company, Inc. | 2025 | John Griffith | 1,026,418 | 4,060,491 | 0 | 1,635,585 | 7,055,667 |
| 18 | New Jersey Resources Corp. | 2025 | Stephen Westhoven | 1,002,737 | 3,514,633 | 0 | 1,398,286 | 6,433,253 |
| 19 | Black Hills Corp. | 2025 | Linden Evans | 995,594 | 2,966,688 | 0 | 1,294,886 | 5,991,759 |
| 20 | ONE Gas, Inc. | 2025 | Robert McAnnally | 925,000 | 3,154,361 | 0 | 1,300,000 | 5,575,027 |
| 21 | NorthWestern Corp. | 2025 | Brian Bird | 921,263 | 2,700,022 | 0 | 743,400 | 5,016,745 |
| 22 | MDU Resources Group, Inc. | 2025 | Nicole Kivisto | 925,000 | 2,600,313 | 0 | 1,169,200 | 4,812,252 |
| 23 | Avista Corp. | 2025 | Heather Rosentrater | 786,845 | 2,653,743 | 0 | 897,732 | 4,773,308 |
| 24 | Hawaiian Electric Industries, Inc. | 2025 | Scott W. Seu | 1,024,900 | 1,721,450 | 0 | 0 | 4,430,919 |
| 25 | PNM Resources, Inc. | 2025 | Joseph Tarry | 839,462 | 2,275,011 | 0 | 495,058 | 3,903,948 |
| 26 | Allete, Inc. | 2024 | Bethany Owen | 871,175 | 1,378,138 | 0 | 1,329,692 | 3,720,063 |
| 27 | MGE Energy, Inc. | 2025 | Jeffrey Keebler | 795,833 | 1,402,881 | 0 | 865,920 | 3,613,508 |
| 28 | Spire Inc | 2025 | Scott Doyle | 701,346 | 1,818,179 | 0 | 650,978 | 3,328,340 |
| — | South Jersey Industries, 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.
Incentive design against the same peers
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Spire Inc | 95% | PSU 75 · RSU 25 | No | Semler Brossy Consulting Group LLC |
| Allete, Inc. | 153.2% | PSU 75 · RSU 25 | Yes — Relative TSR | Pearl Meyer |
| Alliant Energy Corp. | 130% | PSU 75 · RSU 25 | No | Pay Governance LLC |
| Ameren Corp. | 193.3% | PSU 70 · RSU 30 | No | Meridian Compensation Partners |
| American | 114% | PSU 70 · RSU 30 | Yes — Relative TSR | Meridian Compensation Partners, LLC |
| Atmos Energy Corp. | 153% | PSU 75 · RSU 25 | No | Meridian Compensation Partners, LLC |
| Avista Corp. | 114% | not disclosed | No | Meridian Compensation Partners |
| Black Hills Corp. | 118.4% | PSU 60 · RSU 40 | Yes — Relative Total Shareholder Return (rTSR) | Meridian |
| CenterPoint Energy, Inc. | 159% | PSU 70 · RSU 30 | Yes — Relative TSR | Meridian Compensation Partners, LLC |
| Essential Utilities, Inc. | 187.62% | PSU 50 · RSU 35 · Option 15 | Yes — Total Shareholder Return (TSR) Peer Group Ranking | FW Cook |
| Evergy, Inc. | 95.5% | PRSU 70 · RSU 30 | Yes — Three Year Relative TSR versus Companies in the EEI Index | Meridian |
| General Electric Company | not disclosed | PSU 50 · Options 30 · RSU 20 | No | Not explicitly named in provided text |
| Hawaiian Electric Industries, Inc. | not disclosed | PSU 50 · Cash LTI 50 | No | Frederic W. Cook & Co., Inc. (FW Cook) |
| Idacorp, Inc. | 170% | PSU 67 · RSU 33 | Yes — TSR | Pay Governance |
| MDU Resources Group, Inc. | 126.4% | PSU 70 · RSU 30 | Yes — Three-Year rTSR | Independent compensation consultant (nationally-recognized firm; name not disclosed in CD&A) |
| MGE Energy, Inc. | 135.3% | PSU 50 · RSU 50 | Yes — Relative Total Shareholder Return (TSR) | FW Cook |
| National Fuel Gas Company | not disclosed | PSU 66.67 · RSU 33.33 | not disclosed | Korn Ferry and Meridian Compensation Partners, LLC |
| New Jersey Resources Corp. | 126.17% | PSU 51 · RSU 49 | No | FW Cook |
| NiSource Inc. | 146% | PSU 80 · RSU 20 | Yes — Three-Year RTSR | Meridian Compensation Partners |
| NorthWestern Corp. | 80% | PSU 70 · RSU 30 | Yes — TSR relative to peer group | Willis Towers Watson (WTW) |
| OGE Energy Corp. | 118% | PSU 65 · RSU 35 | No | Mercer |
| ONE Gas, Inc. | 140.6% | PSU 70 · RSU 30 | Yes — Relative TSR | Meridian Compensation Partners |
| Pinnacle West Capital Corp. | 197.5% | PSU 70 · RSU 30 | Yes — Relative TSR | FW Cook |
| PNM Resources, Inc. | 50% | PSU 70 · RSU 30 | Yes — Relative TSR Goal | Pay Governance |
| Portland | not disclosed | PSU 70 · RSU 30 | Yes — Relative Total Shareholder Return (TSR) | FW Cook |
| South Jersey Industries, Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Southwest Gas Holdings, Inc. | 141% | PSU 60 · RSU 40 | No | Aon Human Capital Solutions |
| UGI Corporation | 139.9% | PSU 60 · RSU 40 | Yes — Annualized TSR | Pay Governance LLC and Meridian Compensation Partners, LLC |
| Water Works Company, Inc. | not disclosed | PSU 70 · RSU 30 | Yes — Relative TSR | Aon Human Capital Solutions |
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.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-01-29 | 48,661,991 | 669,343 | 119,253 | 98.41% | Passed |
| 2025 | 2025-01-30 | 46,719,848 | 743,929 | 130,305 | 98.16% | Passed |
| 2024 | 2024-01-25 | 42,259,826 | 844,811 | 137,875 | 97.73% | Passed |
| 2021 | 2021-01-28 | 40,507,852 | 1,487,925 | 143,442 | 96.13% | Passed |
| 2020 | 2020-01-30 | 41,015,818 | 917,866 | 149,850 | 97.46% | Passed |
| 2019 | 2019-01-31 | 40,053,339 | 555,511 | 193,580 | 98.16% | 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 year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2026 | 2026-01-29 | 98.41%a |
| 2025 | 2025-01-30 | 98.16%b |
| 2024 | 2024-01-25 | 97.73%c |
a. Approved under the standard stated in the filing — “Withheld votes and abstentions will have the effect of votes against the nominee, while broker non-votes will not be considered represented and will have no effect on the outcome.”.
b. Approved under the standard stated in the filing — “Withheld votes and abstentions will have the effect of votes against the nominee, while broker non-votes will not be considered represented and will have no effect on the outcome.”.
c. Approved under the standard stated in the filing — “Withheld votes and abstentions will have the effect of votes against the nominee, while broker non-votes will not be considered represented and will have no effect on the outcome.”.
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.
CEO pay ratio
| Ratio (CEO : median employee) | 32 : 1 |
|---|---|
| CEO total compensation | $3,460,536 |
| Median employee compensation | $107,562 |
Insider trades since the proxy
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 |
|---|---|---|---|---|---|---|---|---|
| Scott Edward Doyle | Director | 2026-01-20 | D | 1,359 | $84 | $113,599 | Common | Form 4 ↗ |
| Sheri S. Cook | Director | 2026-02-05 | A | 1,640 | 85 | 139,843 | Common | Form 4 ↗ |
| Vinny J. Ferrari | Director | 2026-02-05 | A | 1,640 | 85 | 139,843 | Common | Form 4 ↗ |
| Rob L. Jones | Director | 2026-02-05 | A | 1,640 | 85 | 139,843 | Common | Form 4 ↗ |
| Paul D. Koonce | Director | 2026-02-05 | A | 1,640 | 85 | 139,843 | Common | Form 4 ↗ |
| Brenda D. Newberry | Director | 2026-02-05 | A | 1,640 | 85 | 139,843 | Common | Form 4 ↗ |
| Maria V. Fogarty | Director | 2026-02-05 | A | 1,640 | 85 | 139,843 | Common | Form 4 ↗ |
| Carrie J. Hightman | Director | 2026-02-05 | A | 1,640 | 85 | 139,843 | Common | Form 4 ↗ |
| Mark A. Borer | Director | 2026-02-05 | A | 1,640 | 85 | 139,843 | Common | Form 4 ↗ |
| Paul D. Koonce | Director | 2026-02-13 | D | 8,846 | 25 | 221,150 | Common | Form 4 ↗ |
| Paul D. Koonce | Director | 2026-05-08 | A | 2,000 | 86 | 171,620 | Common | Form 4 ↗ |
| Paul D. Koonce | Director | 2026-06-01 | A | 500 | 81 | 40,250 | Common | Form 4 ↗ |
| Ryan Hyman | SVP, CCIO | 2026-06-09 | D | 3,822 | 81 | 307,709 | Common | Form 4 ↗ |
| Paul D. Koonce | Director | 2026-06-11 | A | 500 | 78 | 39,230 | Common | Form 4 ↗ |
| Adam Woodard | Treasurer | 2026-06-15 | A | 1,100 | 79 | 86,515 | Common | Form 4 ↗ |
| Timothy W. Krick | VP, Chief Accounting Officer | 2026-08-10 | A | 1,230 | 81 | 99,679 | 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.
Sources (86 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Steven Lindsey. DEF 14A, filed 2025-12-16. Section “Executive compensation tables” · page 49. As printed: 5,066,799. View filing ↗
- Section 01, Scott Doyle. DEF 14A, filed 2025-12-16. Section “Executive compensation tables” · page 49. As printed: 3,328,340. View filing ↗
- Section 01, Steven Rasche. DEF 14A, filed 2025-12-16. Section “Executive compensation tables” · page 49. As printed: 1,320,427. View filing ↗
- Section 01, Adam Woodard. DEF 14A, filed 2025-12-16. Section “Executive compensation tables” · page 49. As printed: 1,067,559. View filing ↗
- Section 01, Matthew Aplington. DEF 14A, filed 2025-12-16. Section “Executive compensation tables” · page 49. As printed: 978,437. View filing ↗
- Section 01, Ryan Hyman. DEF 14A, filed 2025-12-16. Section “Executive compensation tables” · page 49. As printed: 895,283. View filing ↗
- Section 01, Stephen Mills. DEF 14A, filed 2025-12-16. Section “Executive compensation tables” · page 49. As printed: 811,993. View filing ↗
- Section 03, Adam Woodard PSU. DEF 14A, filed 2025-12-16. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Ryan Hyman PSU. DEF 14A, filed 2025-12-16. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Scott Doyle PSU. DEF 14A, filed 2025-12-16. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Stephen Mills PSU. DEF 14A, filed 2025-12-16. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Steven Rasche PSU. DEF 14A, filed 2025-12-16. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Scott Doyle PSU. DEF 14A, filed 2025-12-16. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Steven Lindsey PSU. DEF 14A, filed 2025-12-16. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Matthew Aplington PSU. DEF 14A, filed 2025-12-16. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2025-12-16. Section “CEO Pay Ratio”. As printed: 32 : 1. View filing ↗
- Section 08, Rob L. Jones. DEF 14A, filed 2025-12-16. Section “Director Compensation”. As printed: 349,915. View filing ↗
- Section 08, Mark A. Borer. DEF 14A, filed 2025-12-16. Section “Director Compensation”. As printed: 261,779. View filing ↗
- Section 08, Maria V. Fogarty. DEF 14A, filed 2025-12-16. Section “Director Compensation”. As printed: 256,760. View filing ↗
- Section 08, Brenda D. Newberry. DEF 14A, filed 2025-12-16. Section “Director Compensation”. As printed: 253,693. View filing ↗
- Section 08, Carrie J. Hightman. DEF 14A, filed 2025-12-16. Section “Director Compensation”. As printed: 229,915. View filing ↗
- Section 08, John P. Stupp Jr. DEF 14A, filed 2025-12-16. Section “Director Compensation”. As printed: 229,915. View filing ↗
- Section 08, Sheri S. Cook. DEF 14A, filed 2025-12-16. Section “Director Compensation”. As printed: 229,915. View filing ↗
- Section 08, Paul D. Koonce. DEF 14A, filed 2025-12-16. Section “Director Compensation”. As printed: 229,915. View filing ↗
- Section 08, Vinny J. Ferrari. DEF 14A, filed 2025-12-16. Section “Director Compensation”. As printed: 229,915. View filing ↗
- Section 08, Scott E. Doyle. DEF 14A, filed 2025-12-16. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 02, Scott Edward Doyle 2026-01-20. Form 4, filed 2026-01-22. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Sheri S. Cook 2026-02-05. Form 4, filed 2026-02-06. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Vinny J. Ferrari 2026-02-05. Form 4, filed 2026-02-09. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Rob L. Jones 2026-02-05. Form 4, filed 2026-02-09. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Paul D. Koonce 2026-02-05. Form 4, filed 2026-02-09. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Brenda D. Newberry 2026-02-05. Form 4, filed 2026-02-09. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Maria V. Fogarty 2026-02-05. Form 4, filed 2026-02-06. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Carrie J. Hightman 2026-02-05. Form 4, filed 2026-02-09. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Mark A. Borer 2026-02-05. Form 4, filed 2026-02-06. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Paul D. Koonce 2026-02-13. Form 4, filed 2026-02-17. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Paul D. Koonce 2026-05-08. Form 4, filed 2026-05-11. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Paul D. Koonce 2026-06-01. Form 4, filed 2026-06-04. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Ryan Hyman 2026-06-09. Form 4, filed 2026-06-10. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Paul D. Koonce 2026-06-11. Form 4, filed 2026-06-12. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Adam Woodard 2026-06-15. Form 4, filed 2026-06-16. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Timothy W. Krick 2026-08-10. Form 4, filed 2026-08-12. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-01-30. Item 5.07 · say-on-pay result. As reported: 98.41% (votes for as printed: 48,661,991). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-01-31. Item 5.07 · say-on-pay result. As reported: 98.16% (votes for as printed: 46,719,848). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-01-31. Item 5.07 · say-on-pay result. As reported: 97.73% (votes for as printed: 42,259,826). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
- Section 09b board cost (computed). Computed. Cash 1,114,000 + equity 1,124,235 + all other 0 = 2,238,235, summed across the director compensation table rows.
- General Electric Company, Section 10b CEO total. DEF 14A, filed 2026-03-12. CEO total compensation as printed in General Electric Company's own proxy. As printed: 45,616,160. View filing ↗
- American, Section 10b CEO total. DEF 14A, filed 2026-04-08. CEO total compensation as printed in American's own proxy. As printed: 14,854,505. View filing ↗
- Ameren Corp., Section 10b CEO total. DEF 14A, filed 2026-03-31. CEO total compensation as printed in Ameren Corp.'s own proxy. As printed: 14,056,510. View filing ↗
- NiSource Inc., Section 10b CEO total. DEF 14A, filed 2026-03-30. CEO total compensation as printed in NiSource Inc.'s own proxy. As printed: 13,197,800. View filing ↗
- CenterPoint Energy, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-04. CEO total compensation as printed in CenterPoint Energy, Inc.'s own proxy. As printed: 12,092,341. View filing ↗
- OGE Energy Corp., Section 10b CEO total. DEF 14A, filed 2026-04-01. CEO total compensation as printed in OGE Energy Corp.'s own proxy. As printed: 12,032,007. View filing ↗
- Southwest Gas Holdings, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-23. CEO total compensation as printed in Southwest Gas Holdings, Inc.'s own proxy. As printed: 10,029,409. View filing ↗
- Atmos Energy Corp., Section 10b CEO total. DEF 14A, filed 2025-12-19. CEO total compensation as printed in Atmos Energy Corp.'s own proxy. As printed: 9,953,274. View filing ↗
- Evergy, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-26. CEO total compensation as printed in Evergy, Inc.'s own proxy. As printed: 9,537,018. View filing ↗
- Essential Utilities, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-17. CEO total compensation as printed in Essential Utilities, Inc.'s own proxy. As printed: 9,212,815. View filing ↗
- National Fuel Gas Company, Section 10b CEO total. DEF 14A, filed 2026-01-23. CEO total compensation as printed in National Fuel Gas Company's own proxy. As printed: 9,119,455. View filing ↗
- Alliant Energy Corp., Section 10b CEO total. DEF 14A, filed 2026-03-31. CEO total compensation as printed in Alliant Energy Corp.'s own proxy. As printed: 8,999,073. View filing ↗
- UGI Corporation, Section 10b CEO total. DEF 14A, filed 2025-12-17. CEO total compensation as printed in UGI Corporation's own proxy. As printed: 8,991,090. View filing ↗
- Pinnacle West Capital Corp., Section 10b CEO total. DEF 14A, filed 2026-04-03. CEO total compensation as printed in Pinnacle West Capital Corp.'s own proxy. As printed: 8,414,652. View filing ↗
- Portland, Section 10b CEO total. DEF 14A, filed 2026-03-13. CEO total compensation as printed in Portland's own proxy. As printed: 7,583,877. View filing ↗
- Idacorp, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in Idacorp, Inc.'s own proxy. As printed: 7,529,892. View filing ↗
- Water Works Company, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-24. CEO total compensation as printed in Water Works Company, Inc.'s own proxy. As printed: 7,055,667. View filing ↗
- New Jersey Resources Corp., Section 10b CEO total. DEF 14A, filed 2025-12-10. CEO total compensation as printed in New Jersey Resources Corp.'s own proxy. As printed: 6,433,253. View filing ↗
- Black Hills Corp., Section 10b CEO total. DEF 14A, filed 2026-03-18. CEO total compensation as printed in Black Hills Corp.'s own proxy. As printed: 5,991,759. View filing ↗
- ONE Gas, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-01. CEO total compensation as printed in ONE Gas, Inc.'s own proxy. As printed: 5,575,027. View filing ↗
- NorthWestern Corp., Section 10b CEO total. DEF 14A, filed 2026-03-12. CEO total compensation as printed in NorthWestern Corp.'s own proxy. As printed: 5,016,745. View filing ↗
- MDU Resources Group, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-01. CEO total compensation as printed in MDU Resources Group, Inc.'s own proxy. As printed: 4,812,252. View filing ↗
- Avista Corp., Section 10b CEO total. DEF 14A, filed 2026-04-01. CEO total compensation as printed in Avista Corp.'s own proxy. As printed: 4,773,308. View filing ↗
- Hawaiian Electric Industries, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-29. CEO total compensation as printed in Hawaiian Electric Industries, Inc.'s own proxy. As printed: 4,430,919. View filing ↗
- PNM Resources, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in PNM Resources, Inc.'s own proxy. As printed: 3,903,948. View filing ↗
- Allete, Inc., Section 10b CEO total. DEF 14A, filed 2025-03-31. CEO total compensation as printed in Allete, Inc.'s own proxy. As printed: 3,720,063. View filing ↗
- MGE Energy, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in MGE Energy, Inc.'s own proxy. As printed: 3,613,508. View filing ↗
- Spire Inc (subject), Section 10b CEO total. DEF 14A, filed 2025-12-16. CEO total compensation as printed in Spire Inc's own proxy. As printed: 3,328,340. View filing ↗
- Section 10a, Avista Corp. reciprocity. DEF 14A. Avista Corp. names Spire Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, ONE Gas, Inc. reciprocity. DEF 14A. ONE Gas, Inc. names Spire Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, NiSource Inc. reciprocity. DEF 14A. NiSource Inc. names Spire Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, NorthWestern Corp. reciprocity. DEF 14A. NorthWestern Corp. names Spire Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Black Hills Corp. reciprocity. DEF 14A. Black Hills Corp. names Spire Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Atmos Energy Corp. reciprocity. DEF 14A. Atmos Energy Corp. names Spire Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, IDACORP, Inc. reciprocity. DEF 14A. IDACORP, Inc. names Spire Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, MDU Resources Group, Inc. reciprocity. DEF 14A. MDU Resources Group, Inc. names Spire Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, National Fuel Gas Company reciprocity. DEF 14A. National Fuel Gas Company names Spire Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Southwest Gas Holdings, Inc. reciprocity. DEF 14A. Southwest Gas Holdings, Inc. names Spire Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗