Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-08-13

Tootsie Roll Industries (TR)

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.

$7,150,512
Ellen Gordon total, FY2025
CEO pay percentile vs peers
96:1
CEO-to-median pay ratio
96.84%
Say-on-pay support, latest vote
Companies that benchmark against TR
1 company names TR as a compensation peer

Each company listed discloses TR 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 TR 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
Ellen Gordon$999,000$4,245,000$1,906,512$7,150,512
Chairman and Chief Executive Officer
G. Howard Ember Jr.999,000590,000836,7952,425,795
Vice President/Finance
Barry Bowen787,500307,900374,3231,469,723
Treasurer
Stephen Green728,500282,000335,0771,345,577
Vice President/Manufacturing
Henry Mills603,000259,700293,5921,156,292
Vice President/Chief Operating 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
Ellen Gordon$7,150,512$7,204,551$7,289,683−54,039
G. Howard Ember Jr.2,425,7952,319,7762,208,154+106,019
Barry Bowen1,469,7231,403,4531,333,932+66,270
Stephen Green1,345,5771,285,3991,221,811+60,178
Henry Mills1,156,2921,008,221831,013+148,071

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.

05

Incentive-plan design — the Compensation Discussion & Analysis

The Company's compensation program is balanced between short-term and long-term incentives, with a heavier weighting on base salary than typical to mitigate excessive risk-taking. The primary focus is providing total compensation competitive with direct competitors, while considering individual and Company performance to determine appropriate levels.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantCompensation Strategies, Inc.
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingfalse
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-06334,324,21710,913,870154,30796.84%Passed
20232023-05-01305,626,46811,309,54381,70296.43%Passed
20202020-08-31281,138,0409,164,031104,47296.84%Passed
20172017-05-01259,766,5827,428,480097.22%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
20262026-05-0696.84%a
20232023-05-0196.43%b
20202020-08-3196.84%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)96 : 1
CEO total compensation
Median employee compensation$74,309
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Karen G. MillsEmployee director · Newly elected$0$1,010,443$1,010,443$1,010,443
Paula M. WardynskiIndependent160,0002,000162,000
Lana Jane Lewis-BrentIndependent150,0000150,000
Michael A. ChodosNewly elected140,7400140,740
Virginia L. GordonNot independent138,0000138,000
Barre A. Seibert9,26009,260
Ellen R. GordonEmployee director · Board Chair0
09

Board fee structure and ownership guideline

Annual cash retainer$130,000
Annual equity retainer
Per board meeting fee$2,000
Committee chair fees (audit / comp / nom-gov)20,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$598,000
Equity awards (grant-date value)$1,010,443
All other compensation$1,012,443
Total cost of the board$2,620,886

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

10

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.

10a

Peer reciprocity

Of the companies Tootsie Roll Industries names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Tootsie Roll Industries.

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
1Kellanova2023Steve Cahillane$1,338,462$10,995,985$1,524,318$2,829,600$17,038,641
2The Hershey Company2025Kirk Tanner456,73114,674,11301,358,05216,806,399
3Post Holdings, Inc.2025Robert Vitale1,281,25014,811,2950016,621,445
4General Mills, Inc.2026Jeffrey Harmening1,350,0007,326,4052,279,9731,404,54014,018,052
5Campbell Soup Company2025Mark Clouse664,0158,932,7300859,14011,056,404
6The J.M. Smucker Company2026Mark Smucker1,221,1546,274,43802,143,12610,935,216
7McCormick & Co., Inc.2025Brendan Foley1,139,0848,600,1050720,13010,831,581
8Flowers Foods, Inc.2025A. Ryals McMullian1,041,7305,735,8420733,5247,776,698
9Tootsie Roll Industries2025Ellen Gordon999,0007,150,512
10Marzetti Company2025David Ciesinski975,0003,000,11201,292,3635,378,360
11B&G Foods, Inc.2025Kenneth Keller1,224,2582,625,8640710,4374,589,619
12Hain Celestial Group, Inc.2025Wendy Davidson789,8083,530,682004,546,417
13The Simply Good Foods Company2025Geoff Tanner816,6672,747,7580748,0004,330,633
14J & J Snack Foods Corp.2025Daniel Fachner1,021,9232,059,9740834,3003,978,648
15Nature's Sunshine Products, Inc.2025Ken Romanzi107,8853,600,5620147,8363,863,880
John B. Sanfilippo & Son, Inc.not in coverage universe
Farmer Brothers Co.not in coverage universe
TreeHouse Foods, 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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Tootsie Roll Industriesnot disclosednot disclosednot disclosedCompensation Strategies, Inc.
B&G Foods, Inc.not disclosedPSU 50 · Restricted Stock 50not disclosedMeridian Compensation Partners
Campbell Soup Company74%PSU 60 · RSU 40Yes — TSR performanceFW Cook
Farmer Brothers Co.not disclosednot disclosednot disclosednot disclosed
Flowers Foods, Inc.56.3%PSU 70 · RSU 30Yes — TSR vs. Peer GroupMeridian
General Mills, Inc.58%PSU 50 · RSU 25 · Options 25Yes — Relative TSR ModifierFW Cook
Hain Celestial Group, Inc.not disclosedRSU 50 · PSU 50Yes — Relative TSR versus the S&P Food & Beverage Select Industry IndexClearBridge Compensation Group, LLC
J & J Snack Foods Corp.not disclosednot disclosednot disclosednot disclosed
John B. Sanfilippo & Son, Inc.not disclosednot disclosednot disclosednot disclosed
Kellanova111%PSU 75 · RSU 25NoSemler Brossy Consulting Group
Marzetti Companynot disclosednot disclosednot disclosednot disclosed
McCormick & Co., Inc.40.4%PSU 50 · RSU 50Yes — McCormick's TSR relative to the TSR generated by our Peer Group companiesWTW (Willis Towers Watson)
Nature's Sunshine Products, Inc.not disclosedRSU 50 · PRSU 50not disclosedF.W. Cook
Post Holdings, Inc.124.4%PRSU 50 · RSU 50Yes — Relative Total Shareholder Return (TSR)Aon
The Hershey Company165.19%PSU 65 · RSU 35NoFrederic W. Cook & Co., Inc.
The J.M. Smucker Company117%PSU 60 · RSU 40NoSemler Brossy
The Simply Good Foods Companynot disclosednot disclosednot disclosednot disclosed
TreeHouse Foods, Inc.not disclosednot disclosednot disclosednot disclosed

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.

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, Ellen GordonDEF 14A2026-03-270001104659-26-035765Section “Executive Compensation”. As printed: 7,150,512. Filing ↗
2Section 01, G. Howard Ember Jr.DEF 14A2026-03-270001104659-26-035765Section “Executive Compensation”. As printed: 2,425,795. Filing ↗
3Section 01, Barry BowenDEF 14A2026-03-270001104659-26-035765Section “Executive Compensation”. As printed: 1,469,723. Filing ↗
4Section 01, Stephen GreenDEF 14A2026-03-270001104659-26-035765Section “Executive Compensation”. As printed: 1,345,577. Filing ↗
5Section 01, Henry MillsDEF 14A2026-03-270001104659-26-035765Section “Executive Compensation”. As printed: 1,156,292. Filing ↗
6Section 07, pay ratioDEF 14A2026-03-270001104659-26-035765Section “CEO Pay Ratio”. As printed: 96 : 1. Filing ↗
7Section 08, Karen G. MillsDEF 14A2026-03-270001104659-26-035765Section “Director Compensation”. As printed: 1,010,443. Filing ↗
8Section 08, Paula M. WardynskiDEF 14A2026-03-270001104659-26-035765Section “Director Compensation”. As printed: 162,000. Filing ↗
9Section 08, Lana Jane Lewis-BrentDEF 14A2026-03-270001104659-26-035765Section “Director Compensation”. As printed: 150,000. Filing ↗
10Section 08, Michael A. ChodosDEF 14A2026-03-270001104659-26-035765Section “Director Compensation”. As printed: 140,740. Filing ↗
11Section 08, Virginia L. GordonDEF 14A2026-03-270001104659-26-035765Section “Director Compensation”. As printed: 138,000. Filing ↗
12Section 08, Barre A. SeibertDEF 14A2026-03-270001104659-26-035765Section “Director Compensation”. As printed: 9,260. Filing ↗
13Section 08, Ellen R. GordonDEF 14A2026-03-270001104659-26-035765Section “Director Compensation”. As printed: 0. Filing ↗
14Section 06, 2026 voteForm 8-K2026-05-110001104659-26-058415Item 5.07 · say-on-pay result. As reported: 96.84% (votes for as printed: 334,324,217). Filing ↗
15Section 06, 2023 voteForm 8-K2023-05-040001558370-23-008018Item 5.07 · say-on-pay result. As reported: 96.43% (votes for as printed: 305,626,468). Filing ↗
16Section 06, 2020 voteForm 8-K2020-09-080000098677-20-000009Item 5.07 · say-on-pay result. As reported: 96.84% (votes for as printed: 281,138,040). Filing ↗
17Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
18Section 09b board cost (computed)ComputedcomputedCash 598,000 + equity 1,010,443 + all other 1,012,443 = 2,620,886, summed across the director compensation table rows.machine: formula: Σ = 2,620,886
19Kellanova, Section 10b CEO totalDEF 14A2024-03-040000055067-24-000010CEO total compensation as printed in Kellanova's own proxy. As printed: 17,038,641. Filing ↗machine: r2 · c33 · span 884851–884861
20The Hershey Company, Section 10b CEO totalDEF 14A2026-03-250001628280-26-021065CEO total compensation as printed in The Hershey Company's own proxy. As printed: 16,806,399. Filing ↗machine: t70 · r3 · c16 · span 1119047–1119057
21Post Holdings, Inc., Section 10b CEO totalDEF 14A2025-12-150001530950-25-000284CEO total compensation as printed in Post Holdings, Inc.'s own proxy. As printed: 16,621,445. Filing ↗machine: r2 · c54 · span 657892–657902
22General Mills, Inc., Section 10b CEO totalDEF 14A2026-08-130001628280-26-056619CEO total compensation as printed in General Mills, Inc.'s own proxy. As printed: 14,018,052. Filing ↗machine: t159 · r2 · c8 · span 1890686–1890696
23Campbell Soup Company, Section 10b CEO totalDEF 14A2025-10-080001308179-25-000618CEO total compensation as printed in Campbell Soup Company's own proxy. As printed: 11,056,404. Filing ↗machine: span 1065685–1065695
24The J.M. Smucker Company, Section 10b CEO totalDEF 14A2026-06-260001193125-26-283858CEO total compensation as printed in The J.M. Smucker Company's own proxy. As printed: 10,935,216. Filing ↗machine: t332 · r5 · c44 · span 1104985–1104995
25McCormick & Co., Inc., Section 10b CEO totalDEF 14A2026-02-180000063754-26-000140CEO total compensation as printed in McCormick & Co., Inc.'s own proxy. As printed: 10,831,581. Filing ↗machine: r2 · c24 · span 970218–970228
26Flowers Foods, Inc., Section 10b CEO totalDEF 14A2026-04-140001104659-26-043025CEO total compensation as printed in Flowers Foods, Inc.'s own proxy. As printed: 7,776,698. Filing ↗machine: r1 · c48 · span 1362376–1362385
27Tootsie Roll Industries (subject), Section 10b CEO totalDEF 14A2026-03-270001104659-26-035765CEO total compensation as printed in Tootsie Roll Industries's own proxy. As printed: 7,150,512. Filing ↗
28Marzetti Company, Section 10b CEO totalDEF 14A2025-10-200000057515-25-000025CEO total compensation as printed in Marzetti Company's own proxy. As printed: 5,378,360. Filing ↗machine: span 547013–547022
29B&G Foods, Inc., Section 10b CEO totalDEF 14A2026-04-030001104659-26-039621CEO total compensation as printed in B&G Foods, Inc.'s own proxy. As printed: 4,589,619. Filing ↗
30Hain Celestial Group, Inc., Section 10b CEO totalDEF 14A2025-09-180001193125-25-207370CEO total compensation as printed in Hain Celestial Group, Inc.'s own proxy. As printed: 4,546,417. Filing ↗machine: t83 · r14 · c38 · span 1813238–1813247
31The Simply Good Foods Company, Section 10b CEO totalDEF 14A2025-12-170001104659-25-121934CEO total compensation as printed in The Simply Good Foods Company's own proxy. As printed: 4,330,633. Filing ↗machine: r1 · c48 · span 952887–952896
32J & J Snack Foods Corp., Section 10b CEO totalDEF 14A2026-01-020001140361-26-000149CEO total compensation as printed in J & J Snack Foods Corp.'s own proxy. As printed: 3,978,648. Filing ↗machine: r2 · c22 · span 557467–557476
33Nature's Sunshine Products, Inc., Section 10b CEO totalDEF 14A2026-03-270001628280-26-021776CEO total compensation as printed in Nature's Sunshine Products, Inc.'s own proxy. As printed: 3,863,880. Filing ↗machine: r2 · c24 · span 523883–523892
34Section 10a, McCormick & Co., Inc. reciprocityDEF 14A0000063754-26-000140McCormick & Co., Inc.'s most recent proxy was read; its disclosed peer group does not include Tootsie Roll Industries. Filing ↗
35Section 10a, Nature's Sunshine Products, Inc. reciprocityDEF 14A0001628280-26-021776Nature's Sunshine Products, Inc.'s most recent proxy was read; its disclosed peer group does not include Tootsie Roll Industries. Filing ↗
36Section 10a, The Hershey Company reciprocityDEF 14A0001628280-26-021065The Hershey Company's most recent proxy was read; its disclosed peer group does not include Tootsie Roll Industries. Filing ↗
37Section 10a, Kellanova reciprocityDEF 14A0000055067-24-000010Kellanova's most recent proxy was read; its disclosed peer group does not include Tootsie Roll Industries. Filing ↗
38Section 10a, Campbell Soup Company reciprocityDEF 14A0001308179-25-000618Campbell Soup Company's most recent proxy was read; its disclosed peer group does not include Tootsie Roll Industries. Filing ↗
39Section 10a, General Mills, Inc. reciprocityDEF 14A0001628280-26-056619General Mills, Inc.'s most recent proxy was read; its disclosed peer group does not include Tootsie Roll Industries. Filing ↗
40Section 10a, Post Holdings, Inc. reciprocityDEF 14A0001530950-25-000284Post Holdings, Inc.'s most recent proxy was read; its disclosed peer group does not include Tootsie Roll Industries. Filing ↗
41Section 10a, Hain Celestial Group, Inc. reciprocityDEF 14A0001193125-25-207370Hain Celestial Group, Inc.'s most recent proxy was read; its disclosed peer group does not include Tootsie Roll Industries. Filing ↗
42Section 10a, B&G Foods, Inc. reciprocityDEF 14A0001104659-26-039621B&G Foods, Inc.'s most recent proxy was read; its disclosed peer group does not include Tootsie Roll Industries. Filing ↗
43Section 10a, The J.M. Smucker Company reciprocityDEF 14A0001193125-26-283858The J.M. Smucker Company's most recent proxy was read; its disclosed peer group does not include Tootsie Roll Industries. Filing ↗
44Section 10a, Flowers Foods, Inc. reciprocityDEF 14A0001104659-24-045106Flowers Foods, Inc.'s most recent proxy was read; its disclosed peer group does not include Tootsie Roll Industries. Filing ↗