CEO Robert Martin was paid $14,613,718 in fiscal year 2025, ↑ up 38.2% from fiscal year 2024 (SEC filing 0001140361-25-040168 ↗): 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.
$14,613,718 ↑ Robert Martin total, FY2025 | — CEO pay percentile vs peers | 188:1 CEO-to-median pay ratio | 93.53% Say-on-pay support, latest vote |
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THO's next annual pay disclosure, estimated October 31, 2026.est. Filing ↗
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Robert Martin | $750,000 | $0 | $7,149,005 | $0 | $6,692,530 | $0 | $22,183 | $14,613,718 |
| President and Chief Executive Officer | ||||||||
| Colleen Zuhl | 725,000 | 0 | 3,272,366 | 0 | 2,645,317 | 0 | 17,531 | 6,660,214 |
| Senior Vice President and Chief Financial Officer | ||||||||
| Todd Woelfer | 650,000 | 0 | 3,183,134 | 0 | 2,633,126 | 0 | 9,095 | 6,475,355 |
| Senior Vice President and Chief Operating Officer | ||||||||
| Trevor Gasper | 600,000 | 0 | 1,574,916 | 0 | 996,565 | 0 | 9,095 | 3,180,575 |
| Senior Vice President, General Counsel, & Corporate Secretary | ||||||||
| Michele McDermott | 525,000 | 0 | 1,095,833 | 0 | 575,996 | 0 | 33,307 | 2,230,136 |
| Chief Human Resources 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.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Robert Martin | $14,613,718 | $10,574,521 | $10,567,489 | ↑ +4,039,197 |
| Colleen Zuhl | 6,660,214 | 4,753,050 | 4,768,133 | ↑ +1,907,164 |
| Todd Woelfer | 6,475,355 | 4,719,602 | 4,768,367 | ↑ +1,755,753 |
| Trevor Gasper | 3,180,575 | 2,356,348 | 1,850,971 | ↑ +824,227 |
| Michele McDermott | 2,230,136 | 735,420 | — | ↑ +1,494,716 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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Each company listed discloses THO 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 THO in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2025 total |
|---|---|---|
| Amelia A. Huntington | Independent Director | $319,942 |
| Andrew E. Graves | Chair of the Board | $549,942 |
| Christina Hennington | Independent Director | $299,942 |
| Christopher Klein | Independent Director | $319,942 |
| Jeffrey D. Lorenger | Independent Director | $299,942 |
| Laurel Hurd | Independent Director | $299,942 |
| Peter B. Orthwein | Independent Director | $299,942 |
| William J. Kelley Jr | Independent Director | $324,942 |
No insider equity transactions reported since the proxy statement.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Robert Martin | PSU | 107,893 | — | $9,817,184 |
| Colleen Zuhl | RSU | 24,760 | — | 2,252,912 |
| Robert Martin | RSU | 58,726 | — | 5,343,479 |
| Trevor Gasper | PSU | 21,163 | — | 1,925,621 |
| Todd Woelfer | RSU | 25,195 | — | 2,292,493 |
| Michele McDermott | RSU | 1,436 | — | 130,662 |
| Todd Woelfer | PSU | 47,714 | — | 4,341,497 |
| Colleen Zuhl | PSU | 48,042 | — | 4,371,342 |
| Trevor Gasper | RSU | 9,576 | — | 871,320 |
| Michele McDermott | PSU | 7,127 | — | 648,486 |
Our compensation plan is designed to attract and retain industry-leading talent through a program that is reasonable and heavily tied to our Company's financial performance.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | WTW |
| Clawback policy | true |
| Anti-hedging | — |
| Anti-pledging | — |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2025 | 2025-12-17 | 42,933,943 | 2,970,463 | 85,615 | 93.53% | Passed |
| 2024 | 2024-12-20 | 44,324,796 | 1,370,522 | 38,578 | 97% | Passed |
| 2023 | 2023-12-15 | 40,571,499 | 4,459,944 | 72,404 | 90.1% | Passed |
| 2022 | 2022-12-16 | 38,304,091 | 4,544,972 | 55,979 | 89.39% | Passed |
| 2021 | 2021-12-17 | 33,622,678 | 11,703,973 | 35,702 | 74.18% | Passed |
| 2020 | 2020-12-18 | 44,375,148 | 1,861,676 | 110,456 | 95.97% | 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 |
|---|---|---|
| 2025 | 2025-12-17 | 93.53%a |
| 2024 | 2024-12-20 | 97%b |
| 2023 | 2023-12-15 | 90.1%c |
a. Voting standard not stated in the filing.
b. Voting standard not stated in the filing.
c. Approved under the standard stated in the filing — “Broker non-votes and abstentions will not impact the outcome of the vote on the proposals, as they are not counted as votes cast.”.
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) | 188 : 1 |
|---|---|
| CEO total compensation | $10,574,521 |
| Median employee compensation | $56,330 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Andrew E. GravesIndependent · Board Chair | $420,000 | $129,942 | $0 | — | $0 | $549,942 |
| William J. Kelley JrIndependent · Audit (Chair) · Environmental Social, Governance & Nominating · ESG&N | 195,000 | 129,942 | 0 | — | 0 | 324,942 |
| Christopher KleinIndependent · Audit · Environmental Social, Governance & Nominating (Chair) · ESG&N (Chair) | 190,000 | 129,942 | 0 | — | 0 | 319,942 |
| Amelia A. HuntingtonIndependent · Audit · Compensation (Chair) | 190,000 | 129,942 | 0 | — | 0 | 319,942 |
| Christina HenningtonIndependent · Compensation · Environmental Social, Governance & Nominating · ESG&N | 170,000 | 129,942 | 0 | — | 0 | 299,942 |
| Peter B. OrthweinIndependent | 170,000 | 129,942 | 0 | — | 0 | 299,942 |
| Jeffrey D. LorengerIndependent · Compensation · Environmental Social, Governance & Nominating · ESG&N | 170,000 | 129,942 | 0 | — | 0 | 299,942 |
| Laurel HurdIndependent · Audit · Compensation | 170,000 | 129,942 | 0 | — | 0 | 299,942 |
| Robert W. MartinEmployee director | — | — | — | — | — | 0 |
| Annual cash retainer | $170,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 25,000 / 20,000 / 20,000 |
| Stock ownership guideline | Stock ownership guidelines, the time-based vesting component of RSU awards under our LTI program and the multi-year performance measurement periods for the FCF and ROIC components of PSUs awarded under our LTI program, which encourage long-term value creation |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $1,675,000 |
| Equity awards (grant-date value) | $1,039,536 |
| All other compensation | $0 |
| Total cost of the board | $2,714,536 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
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 | Thor Industries | 2025 | Robert Martin | $750,000 | $7,149,005 | $0 | $6,692,530 | $14,613,718 |
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.
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.
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, Robert Martin | DEF 14A | 2025-11-03 | 0001140361-25-040168 | Section “Summary Compensation Table” · page 46. As printed: 14,613,718. Filing ↗ |
| 2 | Section 01, Colleen Zuhl | DEF 14A | 2025-11-03 | 0001140361-25-040168 | Section “Summary Compensation Table” · page 46. As printed: 6,660,214. Filing ↗ |
| 3 | Section 01, Todd Woelfer | DEF 14A | 2025-11-03 | 0001140361-25-040168 | Section “Summary Compensation Table” · page 46. As printed: 6,475,355. Filing ↗ |
| 4 | Section 01, Trevor Gasper | DEF 14A | 2025-11-03 | 0001140361-25-040168 | Section “Summary Compensation Table” · page 46. As printed: 3,180,575. Filing ↗ |
| 5 | Section 01, Michele McDermott | DEF 14A | 2025-11-03 | 0001140361-25-040168 | Section “Summary Compensation Table” · page 46. As printed: 2,230,136. Filing ↗ |
| 6 | Section 07, pay ratio | DEF 14A | 2024-11-06 | 0001193125-24-251941 | Section “CEO Pay Ratio”. As printed: 188 : 1. Filing ↗ |
| 7 | Section 08, Andrew E. Graves | DEF 14A | 2025-11-03 | 0001140361-25-040168 | Section “Director Compensation”. As printed: 549,942. Filing ↗machine: span 378821–378955 |
| 8 | Section 08, William J. Kelley Jr | DEF 14A | 2025-11-03 | 0001140361-25-040168 | Section “Director Compensation”. As printed: 324,942. Filing ↗machine: span 384525–384659 |
| 9 | Section 08, Christopher Klein | DEF 14A | 2025-11-03 | 0001140361-25-040168 | Section “Director Compensation”. As printed: 319,942. Filing ↗machine: span 385836–385970 |
| 10 | Section 08, Amelia A. Huntington | DEF 14A | 2025-11-03 | 0001140361-25-040168 | Section “Director Compensation”. As printed: 319,942. Filing ↗machine: span 381677–381811 |
| 11 | Section 08, Christina Hennington | DEF 14A | 2025-11-03 | 0001140361-25-040168 | Section “Director Compensation”. As printed: 299,942. Filing ↗machine: span 380135–380269 |
| 12 | Section 08, Peter B. Orthwein | DEF 14A | 2025-11-03 | 0001140361-25-040168 | Section “Director Compensation”. As printed: 299,942. Filing ↗machine: span 388679–388810 |
| 13 | Section 08, Jeffrey D. Lorenger | DEF 14A | 2025-11-03 | 0001140361-25-040168 | Section “Director Compensation”. As printed: 299,942. Filing ↗machine: span 387374–387505 |
| 14 | Section 08, Laurel Hurd | DEF 14A | 2025-11-03 | 0001140361-25-040168 | Section “Director Compensation”. As printed: 299,942. Filing ↗machine: span 382982–383116 |
| 15 | Section 08, Robert W. Martin | DEF 14A | 2025-11-03 | 0001140361-25-040168 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 16 | Section 06, 2025 vote | Form 8-K | 2025-12-17 | 0000730263-25-000035 | Item 5.07 · say-on-pay result. As reported: 93.53% (votes for as printed: 42,933,943). Filing ↗ |
| 17 | Section 06, 2024 vote | Form 8-K | 2024-12-20 | 0001171843-24-007036 | Item 5.07 · say-on-pay result. As reported: 97% (votes for as printed: 44,324,796). Filing ↗ |
| 18 | Section 06, 2023 vote | Form 8-K | 2023-12-15 | 0001193125-23-296631 | Item 5.07 · say-on-pay result. As reported: 90.1% (votes for as printed: 40,571,499). Filing ↗ |
| 19 | Section 01 trend, Δ column (computed) | Computed | — | — | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 20 | Section 09b board cost (computed) | Computed | — | — | Cash 1,675,000 + equity 1,039,536 + all other 0 = 2,714,536, summed across the director compensation table rows.machine: formula: Σ = 2,714,536 |
| 21 | Thor Industries (subject), Section 10b CEO total | DEF 14A | 2025-11-03 | 0001140361-25-040168 | CEO total compensation as printed in Thor Industries's own proxy. As printed: 14,613,718. Filing ↗ |