Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-08-17

United Parcel Service (UPS)

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.

$22,878,788
Carol Tomé total, FY2025
35th
CEO pay percentile vs peers
345:1
CEO-to-median pay ratio
83.57%
Say-on-pay support, latest vote
Companies that benchmark against UPS
27 companies name UPS as a compensation peer

Each company listed discloses UPS 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 UPS 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
Carol Tomé$1,509,713$0$17,550,546$1,358,754$2,264,569$0$195,206$22,878,788
Chief Executive Officer
Kate Gutmann926,29605,440,640471,894814,004534,793163,0098,350,636
President International, Healthcare and Supply Chain Solutions
Nando Cesarone926,29605,440,640471,894814,0040125,4447,778,278
President U.S. Operations and Airline
Brian Dykes806,56704,806,424416,894719,115123,026143,6247,015,650
Chief Financial Officer
Bala Subramanian814,27404,728,469410,136707,463090,1346,750,476
Chief Digital and Technology 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
Carol Tomé$22,878,788$24,063,977$23,390,051−1,185,189
Kate Gutmann8,350,6366,256,49010,361,521+2,094,146
Nando Cesarone7,778,2786,227,3326,521,241+1,550,946
Brian Dykes7,015,6504,099,767+2,915,883
Bala Subramanian6,750,4765,895,9666,300,262+854,510

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

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.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Darrell L. FordChief Human Resources Officer2026-05-06A7,659$0$0Derivative, Class A CommonForm 4 ↗
Norman M. Brothers JrChief Legal & Compliance Off2026-05-06A8,91100Derivative, Class A CommonForm 4 ↗
Matthew W. GuffeyCHF Commercial & Strategy Off2026-05-06A11,42400Derivative, Class A CommonForm 4 ↗
Carol B. TomeDirector2026-05-06A30,22800Derivative, Class A CommonForm 4 ↗
Dividend-equivalent accruals2026-05-062,2611 insider, 2 accrual rows
Bala SubramanianChief Digital & Tech Officer2026-05-06A10,57300Derivative, Class A CommonForm 4 ↗
Kate GutmannPres Intl, Healthcare and SCS2026-05-06A13,88900Derivative, Class A CommonForm 4 ↗
Brian DykesChief Financial Officer2026-05-06A12,50400Derivative, Class A CommonForm 4 ↗
Nando CesaronePresident, US Operations2026-05-06A13,88900Derivative, Class A CommonForm 4 ↗
Dividend-equivalent accruals2026-05-0717,5329 insiders, 9 accrual rows
William R. JohnsonDirector2026-05-07A2,64700Derivative, Class A CommonForm 4 ↗
Matthew W. GuffeyCHF Commercial & Strategy Off2026-05-15D1,189101119,827CommonForm 4 ↗
Brian DykesChief Financial Officer2026-05-15D1,398101140,890CommonForm 4 ↗
Brian DykesChief Financial Officer2026-05-15D3,137.500Derivative, Class A CommonForm 4 ↗
Brian DykesChief Financial Officer2026-05-15A3,137.500CommonForm 4 ↗
Nando CesaronePresident, US Operations2026-05-15D1,582101159,434CommonForm 4 ↗
Norman M. Brothers JrChief Legal & Compliance Off2026-05-15D2,504.800Derivative, Class A CommonForm 4 ↗
Bala SubramanianChief Digital & Tech Officer2026-05-15A3,086.300CommonForm 4 ↗
Bala SubramanianChief Digital & Tech Officer2026-05-15D3,086.300Derivative, Class A CommonForm 4 ↗
Matthew W. GuffeyCHF Commercial & Strategy Off2026-05-15A2,667.8300CommonForm 4 ↗
Matthew W. GuffeyCHF Commercial & Strategy Off2026-05-15D2,667.8300Derivative, Class A CommonForm 4 ↗
Nando CesaronePresident, US Operations2026-05-15A3,551.5800CommonForm 4 ↗
Nando CesaronePresident, US Operations2026-05-15D3,551.5800Derivative, Class A CommonForm 4 ↗
Darrell L. FordChief Human Resources Officer2026-05-15D2,174.2200Derivative, Class A CommonForm 4 ↗
Norman M. Brothers JrChief Legal & Compliance Off2026-05-15D1,116101112,470CommonForm 4 ↗
Norman M. Brothers JrChief Legal & Compliance Off2026-05-15A2,504.800CommonForm 4 ↗
Bala SubramanianChief Digital & Tech Officer2026-05-15D1,027101103,501CommonForm 4 ↗
Darrell L. FordChief Human Resources Officer2026-05-15D96910197,656CommonForm 4 ↗
Kate GutmannPres Intl, Healthcare and SCS2026-05-15A3,551.5800CommonForm 4 ↗
Kate GutmannPres Intl, Healthcare and SCS2026-05-15D1,582101159,434CommonForm 4 ↗
Kate GutmannPres Intl, Healthcare and SCS2026-05-15D3,551.5800Derivative, Class A CommonForm 4 ↗
Darrell L. FordChief Human Resources Officer2026-05-15A2,174.2200CommonForm 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.

View all 41 transactions
InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Darrell L. FordChief Human Resources Officer2026-05-06A7,659$0$0Derivative, Class A CommonForm 4 ↗
Norman M. Brothers JrChief Legal & Compliance Off2026-05-06A8,91100Derivative, Class A CommonForm 4 ↗
Matthew W. GuffeyCHF Commercial & Strategy Off2026-05-06A11,42400Derivative, Class A CommonForm 4 ↗
Carol B. TomeDirector2026-05-06A30,22800Derivative, Class A CommonForm 4 ↗
Kevin WarshDirector2026-05-06A312.8400Derivative, Class A CommonForm 4 ↗
Kevin WarshDirector2026-05-06A1,94800Derivative, Class A CommonForm 4 ↗
Bala SubramanianChief Digital & Tech Officer2026-05-06A10,57300Derivative, Class A CommonForm 4 ↗
Kate GutmannPres Intl, Healthcare and SCS2026-05-06A13,88900Derivative, Class A CommonForm 4 ↗
Brian DykesChief Financial Officer2026-05-06A12,50400Derivative, Class A CommonForm 4 ↗
Nando CesaronePresident, US Operations2026-05-06A13,88900Derivative, Class A CommonForm 4 ↗
Russell StokesDirector2026-05-07A1,94800Derivative, Class A CommonForm 4 ↗
Christiana Smith ShiDirector2026-05-07A1,94800Derivative, Class A CommonForm 4 ↗
Franck MoisonDirector2026-05-07A1,94800Derivative, Class A CommonForm 4 ↗
Rodney AdkinsDirector2026-05-07A1,94800Derivative, Class A CommonForm 4 ↗
Wayne HewettDirector2026-05-07A1,94800Derivative, Class A CommonForm 4 ↗
Angela HwangDirector2026-05-07A1,94800Derivative, Class A CommonForm 4 ↗
Kevin ClarkDirector2026-05-07A1,94800Derivative, Class A CommonForm 4 ↗
Eva BorattoDirector2026-05-07A1,94800Derivative, Class A CommonForm 4 ↗
William R. JohnsonDirector2026-05-07A2,64700Derivative, Class A CommonForm 4 ↗
John MorikisDirector2026-05-07A1,94800Derivative, Class A CommonForm 4 ↗
Matthew W. GuffeyCHF Commercial & Strategy Off2026-05-15D1,189101119,827CommonForm 4 ↗
Brian DykesChief Financial Officer2026-05-15D1,398101140,890CommonForm 4 ↗
Brian DykesChief Financial Officer2026-05-15D3,137.500Derivative, Class A CommonForm 4 ↗
Brian DykesChief Financial Officer2026-05-15A3,137.500CommonForm 4 ↗
Nando CesaronePresident, US Operations2026-05-15D1,582101159,434CommonForm 4 ↗
Norman M. Brothers JrChief Legal & Compliance Off2026-05-15D2,504.800Derivative, Class A CommonForm 4 ↗
Bala SubramanianChief Digital & Tech Officer2026-05-15A3,086.300CommonForm 4 ↗
Bala SubramanianChief Digital & Tech Officer2026-05-15D3,086.300Derivative, Class A CommonForm 4 ↗
Matthew W. GuffeyCHF Commercial & Strategy Off2026-05-15A2,667.8300CommonForm 4 ↗
Matthew W. GuffeyCHF Commercial & Strategy Off2026-05-15D2,667.8300Derivative, Class A CommonForm 4 ↗
Nando CesaronePresident, US Operations2026-05-15A3,551.5800CommonForm 4 ↗
Nando CesaronePresident, US Operations2026-05-15D3,551.5800Derivative, Class A CommonForm 4 ↗
Darrell L. FordChief Human Resources Officer2026-05-15D2,174.2200Derivative, Class A CommonForm 4 ↗
Norman M. Brothers JrChief Legal & Compliance Off2026-05-15D1,116101112,470CommonForm 4 ↗
Norman M. Brothers JrChief Legal & Compliance Off2026-05-15A2,504.800CommonForm 4 ↗
Bala SubramanianChief Digital & Tech Officer2026-05-15D1,027101103,501CommonForm 4 ↗
Darrell L. FordChief Human Resources Officer2026-05-15D96910197,656CommonForm 4 ↗
Kate GutmannPres Intl, Healthcare and SCS2026-05-15A3,551.5800CommonForm 4 ↗
Kate GutmannPres Intl, Healthcare and SCS2026-05-15D1,582101159,434CommonForm 4 ↗
Kate GutmannPres Intl, Healthcare and SCS2026-05-15D3,551.5800Derivative, Class A CommonForm 4 ↗
Darrell L. FordChief Human Resources Officer2026-05-15A2,174.2200CommonForm 4 ↗
03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Brian DykesRSU2025-05-0911,739$1,125,653
Kate GutmannPSU2025-05-0944,29197,4404,166,454
Kate GutmannRSU2025-05-0913,2881,274,186
Bala SubramanianPSU2025-05-0938,49484,6873,621,131
Nando CesaroneOPTION2025-05-0925,208471,894
Brian DykesPSU2025-05-0939,12886,0823,680,771
Kate GutmannEquity2025-05-09471,894
Carol ToméEquity2025-05-091,358,754
Nando CesaroneRSU2025-05-0913,2881,274,186
Nando CesaronePSU2025-05-0944,29197,4404,166,454
Bala SubramanianRSU2025-05-0911,5481,107,338
Brian DykesOPTION2025-05-0922,270416,894
Bala SubramanianOPTION2025-05-0921,909410,136
Carol ToméEquity2025-05-0917,550,546
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Brian Dykes$1,125,653$3,680,771$416,89470.5%
Kate Gutmann1,274,1864,166,454076.6%
Bala Subramanian1,107,3383,621,131410,13670.5%
Nando Cesarone1,274,1864,166,454471,89470.5%

% 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
Nando CesaronePSU74,111$7,351,070
Kate GutmannPSU74,1117,351,070
Nando CesaroneOption25,20895.89
Nando CesaroneOption9,764154.76
Bala SubramanianRSU12,1661,206,720
Kate GutmannOption1,332163.25
Carol ToméRSU325,14532,251,133
Brian DykesPSU60,7066,021,428
Nando CesaroneRSU13,9991,388,543
Kate GutmannRSU13,9991,388,543
Brian DykesRSU12,3671,226,678
Brian DykesOption22,27095.89
Kate GutmannOption9,764154.76
Bala SubramanianOption5,456185.54
Carol ToméOption72,58395.89
Carol ToméOption10,143214.58
Kate GutmannOption25,20895.89
Bala SubramanianOption21,90995.89
Carol ToméOption9,524165.66
Carol ToméOption19,846185.54
Carol ToméOption31,272154.76
Brian DykesOption489165.66
Brian DykesOption617214.58
Brian DykesOption1,461185.54
Brian DykesOption2,383154.76
Nando CesaroneOption2,899214.58
Nando CesaroneOption5,958185.54
Kate GutmannOption5,958185.54
Bala SubramanianOption8,898154.76
Kate GutmannOption3,116214.58
Kate GutmannOption1,826165.66
Bala SubramanianPSU65,5666,503,492
Nando CesaroneOption2,654165.66
05

Incentive-plan design — the Compensation Discussion & Analysis

UPS's executive compensation programs are designed to drive organizational performance by linking a significant portion of executive pay to Company operational and financial performance; attract, retain and motivate our executive officer with competitive and fair compensation; encourage long-term stock ownership and careers with UPS; and align the interests of our executives to long-term value creation.

CEO STI target (% of salary)200%
CEO LTI target (% of salary)
Independent consultantFW Cook
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-07870,170,397151,229,84719,844,18783.57%Passed
20252025-05-08928,214,832152,772,74319,676,64885.87%Passed
20242024-05-021,051,455,683119,179,03736,415,31789.82%Passed
20232023-05-041,158,204,61978,048,61830,229,47493.69%Passed
20222022-05-051,217,704,49187,312,19320,808,35993.31%Passed
20212021-05-131,236,014,58298,565,04332,925,24492.61%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
20262026-05-0783.57%a
20252025-05-0885.87%b
20242024-05-0289.82%c

a. Approved under the standard stated in the filing — “2. Advisory vote to approve NEO compensation Majority of the voting power of the shares represented at the meeting and entitled to vote on the proposal Same as a vote against No effect”.

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)345 : 1
CEO total compensation$22,878,788
Median employee compensation$66,268
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
William JohnsonIndependent · Board Chair · Nominating and Corporate Governance (Chair) · Executive$305,000$265,000$0$0$570,000
Eva BorattoIndependent · Audit (Chair)155,000195,00000350,000
Christiana Smith ShiIndependent · Compensation and Human Capital (Chair) · Risk150,000195,00000345,000
Rodney AdkinsIndependent · Compensation and Human Capital · Risk (Chair) · Executive145,000195,00000340,000
Kevin ClarkIndependent · Audit · Newly elected93,750243,75000337,500
Kate JohnsonIndependent · Nominating and Corporate Governance · Risk · Not standing for re-election125,000195,00000320,000
Wayne HewettIndependent · Audit125,000195,00000320,000
Kevin WarshIndependent · Compensation and Human Capital · Nominating and Corporate Governance125,000195,00000320,000
Franck MoisonIndependent · Nominating and Corporate Governance · Risk125,000195,00000320,000
Russell StokesIndependent · Compensation and Human Capital · Nominating and Corporate Governance125,000195,00000320,000
Angela HwangIndependent · Audit125,000195,00000320,000
John MorikisIndependent · Audit · Partial-year service · Newly elected62,500195,00000257,500
Michael BurnsIndependent · Audit · Not standing for re-election · Departed during FY62,50000062,500
09

Board fee structure and ownership guideline

Annual cash retainer$125,000
Annual equity retainer$195,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)30,000 / 25,000 / 20,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,723,750
Equity awards (grant-date value)$2,458,750
All other compensation$0
Total cost of the board$4,182,500

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 United Parcel Service 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 United Parcel Service.

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
1Intel Corporation2025Lip-Bu Tan$746,200$49,639,500$39,523,200$2,374,000$92,990,900
2Cisco Systems, Inc.2025Charles Robbins1,390,00045,870,69005,117,42452,838,751
3Comcast Corporation2025Brian Roberts2,600,96223,473,07608,583,17535,148,413
4Johnson & Johnson2025Joaquin Duato1,600,00015,028,9485,927,9954,298,70032,758,111
5AT&T, Inc.2025John Stankey2,400,00019,500,01206,272,00029,906,872
6Walmart, Inc.2026Doug McMillon1,500,00021,051,60504,032,00029,240,930
7Deere & Company2025John May1,694,50713,950,2394,255,1335,450,55127,925,424
8FedEx Corporation2026Rajesh Subramaniam1,550,0006,731,3643,715,06210,593,50027,554,018
9PepsiCo, Inc.2025Ramon Laguarta1,804,61511,550,00805,771,00023,903,545
10The Boeing Company2025Robert Ortberg1,500,0007,874,8189,624,9593,930,00023,581,389
11Lockheed Martin Corporation2025James Taiclet1,751,00013,667,64505,496,30023,453,308
12United Parcel Service2025Carol Tomé1,509,71317,550,5461,358,7542,264,56922,878,788
13The Procter & Gamble Company2025Jon Moeller1,637,50011,519,6456,562,515021,909,816
14Target Corp.2025Brian Cornell1,400,00018,555,2800787,92021,830,088
15Lowe's Companies, Inc.2025Marvin Ellison1,544,23112,480,4674,262,8953,232,69321,581,889
16McDonald's Corp.2025Christopher Kempczinski1,550,0008,000,2158,000,0662,367,16020,574,525
17Caterpillar Inc.2025Joseph Creed1,381,8929,538,4843,101,1172,476,80017,008,077
18The Home Depot, Inc.2025Edward Decker1,400,0009,612,2512,369,9172,657,63116,191,127

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
United Parcel Service75%PSU 93 · Options 7Yes — Relative Total Shareowner Return (RTSR)FW Cook
AT&T, Inc.112%PSU 75 · RSU 25Yes — Relative Total Stockholder Return (TSR) Payout ModifierFrederic W. Cook & Co., Inc. (FW Cook)
Caterpillar Inc.118%PSU 50 · RSU 25 · Options 25Yes — relative Total Shareholder Return (rTSR)Meridian Compensation Partners, LLC
Cisco Systems, Inc.142%PSU 60 · RSU 40Yes — Relative TSRExequity
Comcast Corporation110%PSU 100Yes — Relative TSR ModifierKorn Ferry
Deere & Company160.8%PSU 50 · RSU 25 · Options 25NoSemler Brossy Consulting Group, LLC (current); Pearl Meyer & Partners, LLC (prior year)
FedEx Corporation112.5%not disclosedYes — Relative TSR (FY24-FY26 LTI Cash Plan)Meridian Compensation Partners, LLC
Intel Corporation118.7%PSU 60 · Options 40Yes — TSR relative to S&P 500 IndexSemler Brossy
Johnson & Johnsonnot disclosednot disclosednot disclosedSemler Brossy Consulting Group
Lockheed Martin Corporation114%PSU 50 · RSU 30 · Cash LTI 20Yes — Relative TSRMeridian Compensation Partners
Lowe's Companies, Inc.104.67%PSU 50 · Options 25 · RSU 25NoSemler Brossy Consulting Group, LLC
McDonald's Corp.not disclosedPRSU 50 · Option 50not disclosedSemler Brossy Consulting Group LLC
PepsiCo, Inc.not disclosednot disclosedYes — Relative TSR PerformanceFW Cook
Target Corp.not disclosedPSU 60 · RSU 40NoSemler Brossy
The Boeing Company131%Options 55 · RSU 45not disclosedFW Cook (Frederic W. Cook & Co., Inc.)
The Home Depot, Inc.95%PSU 50 · RSU 30 · Options 20NoPay Governance
The Procter & Gamble Company57%PSU 50Yes — Relative TSR MultiplierMeridian Compensation Partners, LLC
Walmart, Inc.112%not disclosedNoFarient Advisors LLC

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, Carol ToméDEF 14A2026-03-190001628280-26-019856Section “2025 Summary Compensation Table”. As printed: 22,878,788. Filing ↗machine: r2 · c27 · span 899122–899132
2Section 01, Kate GutmannDEF 14A2026-03-190001628280-26-019856Section “2025 Summary Compensation Table”. As printed: 8,350,636. Filing ↗machine: r10 · c27 · span 917482–917491
3Section 01, Nando CesaroneDEF 14A2026-03-190001628280-26-019856Section “2025 Summary Compensation Table”. As printed: 7,778,278. Filing ↗machine: r7 · c27 · span 910416–910425
4Section 01, Brian DykesDEF 14A2026-03-190001628280-26-019856Section “2025 Summary Compensation Table”. As printed: 7,015,650. Filing ↗machine: r5 · c27 · span 905736–905745
5Section 01, Bala SubramanianDEF 14A2026-03-190001628280-26-019856Section “2025 Summary Compensation Table”. As printed: 6,750,476. Filing ↗machine: r14 · c27 · span 924511–924520
6Section 03, Brian Dykes RSUDEF 14A2026-03-190001628280-26-019856Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t139 · r9 · c8 · span 985878–985884
7Section 03, Kate Gutmann PSUDEF 14A2026-03-190001628280-26-019856Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t139 · r15 · c6 · span 1000916–1000922
8Section 03, Kate Gutmann RSUDEF 14A2026-03-190001628280-26-019856Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t139 · r17 · c8 · span 1006054–1006060
9Section 03, Bala Subramanian PSUDEF 14A2026-03-190001628280-26-019856Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t139 · r19 · c6 · span 1011037–1011043
10Section 03, Nando Cesarone OPTIONDEF 14A2026-03-190001628280-26-019856Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t133 · r4 · c2 · span 877477–877483
11Section 03, Brian Dykes PSUDEF 14A2026-03-190001628280-26-019856Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t139 · r7 · c6 · span 980740–980746
12Section 03, Kate Gutmann EquityDEF 14A2026-03-190001628280-26-019856Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t133 · r5 · c4 · span 880481–880488
13Section 03, Carol Tomé EquityDEF 14A2026-03-190001628280-26-019856Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t133 · r2 · c4 · span 873838–873847
14Section 03, Nando Cesarone RSUDEF 14A2026-03-190001628280-26-019856Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t139 · r13 · c8 · span 995967–995973
15Section 03, Nando Cesarone PSUDEF 14A2026-03-190001628280-26-019856Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t139 · r11 · c6 · span 990829–990835
16Section 03, Bala Subramanian RSUDEF 14A2026-03-190001628280-26-019856Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t139 · r21 · c8 · span 1016463–1016469
17Section 03, Brian Dykes OPTIONDEF 14A2026-03-190001628280-26-019856Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t133 · r3 · c2 · span 875261–875267
18Section 03, Bala Subramanian OPTIONDEF 14A2026-03-190001628280-26-019856Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t133 · r6 · c2 · span 882005–882011
19Section 03, Carol Tomé EquityDEF 14A2026-03-190001628280-26-019856Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t139 · r4 · c11 · span 974079–974089
20Section 07, pay ratioDEF 14A2026-03-190001628280-26-019856Section “CEO Pay Ratio”. As printed: 345 : 1. Filing ↗machine: span 1268303–1268309
21Section 08, William JohnsonDEF 14A2026-03-190001628280-26-019856Section “Director Compensation”. As printed: 570,000. Filing ↗machine: t88 · r11 · c3 · span 672314–672321
22Section 08, Eva BorattoDEF 14A2026-03-190001628280-26-019856Section “Director Compensation”. As printed: 350,000. Filing ↗machine: t88 · r5 · c3 · span 661415–661422
23Section 08, Christiana Smith ShiDEF 14A2026-03-190001628280-26-019856Section “Director Compensation”. As printed: 345,000. Filing ↗machine: t88 · r14 · c3 · span 677855–677862
24Section 08, Rodney AdkinsDEF 14A2026-03-190001628280-26-019856Section “Director Compensation”. As printed: 340,000. Filing ↗machine: t88 · r4 · c3 · span 659518–659525
25Section 08, Kevin ClarkDEF 14A2026-03-190001628280-26-019856Section “Director Compensation”. As printed: 337,500. Filing ↗machine: t88 · r7 · c3 · span 665253–665260
26Section 08, Kate JohnsonDEF 14A2026-03-190001628280-26-019856Section “Director Compensation”. As printed: 320,000. Filing ↗machine: t88 · r10 · c3 · span 670406–670413
27Section 08, Wayne HewettDEF 14A2026-03-190001628280-26-019856Section “Director Compensation”. As printed: 320,000. Filing ↗machine: t88 · r8 · c3 · span 666970–666977
28Section 08, Kevin WarshDEF 14A2026-03-190001628280-26-019856Section “Director Compensation”. As printed: 320,000. Filing ↗machine: t88 · r16 · c3 · span 681303–681310
29Section 08, Franck MoisonDEF 14A2026-03-190001628280-26-019856Section “Director Compensation”. As printed: 320,000. Filing ↗machine: t88 · r12 · c3 · span 674037–674044
30Section 08, Russell StokesDEF 14A2026-03-190001628280-26-019856Section “Director Compensation”. As printed: 320,000. Filing ↗machine: t88 · r15 · c3 · span 679584–679591
31Section 08, Angela HwangDEF 14A2026-03-190001628280-26-019856Section “Director Compensation”. As printed: 320,000. Filing ↗machine: t88 · r9 · c3 · span 668688–668695
32Section 08, John MorikisDEF 14A2026-03-190001628280-26-019856Section “Director Compensation”. As printed: 257,500. Filing ↗machine: t88 · r13 · c3 · span 675940–675947
33Section 08, Michael BurnsDEF 14A2026-03-190001628280-26-019856Section “Director Compensation”. As printed: 62,500. Filing ↗machine: t88 · r6 · c1 · span 662841–662847
34Section 02, Darrell L. Ford 2026-05-06Form 42026-05-080001225208-26-005039Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Norman M. Brothers Jr 2026-05-06Form 42026-05-080001225208-26-005037Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Matthew W. Guffey 2026-05-06Form 42026-05-080001225208-26-005034Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Carol B. Tome 2026-05-06Form 42026-05-080001225208-26-005036Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Kevin Warsh 2026-05-06Form 42026-05-080001225208-26-005033Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Kevin Warsh 2026-05-06Form 42026-05-080001225208-26-005033Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Bala Subramanian 2026-05-06Form 42026-05-080001225208-26-005040Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Kate Gutmann 2026-05-06Form 42026-05-080001225208-26-005035Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Brian Dykes 2026-05-06Form 42026-05-080001225208-26-005022Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, Nando Cesarone 2026-05-06Form 42026-05-080001225208-26-005038Insider equity transaction reported since the proxy statement. Filing ↗
44Section 02, Russell Stokes 2026-05-07Form 42026-05-080001225208-26-005028Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, Christiana Smith Shi 2026-05-07Form 42026-05-080001225208-26-005027Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, Franck Moison 2026-05-07Form 42026-05-080001225208-26-005026Insider equity transaction reported since the proxy statement. Filing ↗
47Section 02, Rodney Adkins 2026-05-07Form 42026-05-080001225208-26-005023Insider equity transaction reported since the proxy statement. Filing ↗
48Section 02, Wayne Hewett 2026-05-07Form 42026-05-080001225208-26-005025Insider equity transaction reported since the proxy statement. Filing ↗
49Section 02, Angela Hwang 2026-05-07Form 42026-05-080001225208-26-005031Insider equity transaction reported since the proxy statement. Filing ↗
50Section 02, Kevin Clark 2026-05-07Form 42026-05-080001225208-26-005024Insider equity transaction reported since the proxy statement. Filing ↗
51Section 02, Eva Boratto 2026-05-07Form 42026-05-080001225208-26-005030Insider equity transaction reported since the proxy statement. Filing ↗
52Section 02, William R. Johnson 2026-05-07Form 42026-05-080001225208-26-005029Insider equity transaction reported since the proxy statement. Filing ↗
53Section 02, John Morikis 2026-05-07Form 42026-05-080001225208-26-005032Insider equity transaction reported since the proxy statement. Filing ↗
54Section 02, Matthew W. Guffey 2026-05-15Form 42026-05-150001225208-26-005391Insider equity transaction reported since the proxy statement. Filing ↗
55Section 02, Brian Dykes 2026-05-15Form 42026-05-150001225208-26-005390Insider equity transaction reported since the proxy statement. Filing ↗
56Section 02, Brian Dykes 2026-05-15Form 42026-05-150001225208-26-005390Insider equity transaction reported since the proxy statement. Filing ↗
57Section 02, Brian Dykes 2026-05-15Form 42026-05-150001225208-26-005390Insider equity transaction reported since the proxy statement. Filing ↗
58Section 02, Nando Cesarone 2026-05-15Form 42026-05-150001225208-26-005389Insider equity transaction reported since the proxy statement. Filing ↗
59Section 02, Norman M. Brothers Jr 2026-05-15Form 42026-05-150001225208-26-005387Insider equity transaction reported since the proxy statement. Filing ↗
60Section 02, Bala Subramanian 2026-05-15Form 42026-05-150001225208-26-005393Insider equity transaction reported since the proxy statement. Filing ↗
61Section 02, Bala Subramanian 2026-05-15Form 42026-05-150001225208-26-005393Insider equity transaction reported since the proxy statement. Filing ↗
62Section 02, Matthew W. Guffey 2026-05-15Form 42026-05-150001225208-26-005391Insider equity transaction reported since the proxy statement. Filing ↗
63Section 02, Matthew W. Guffey 2026-05-15Form 42026-05-150001225208-26-005391Insider equity transaction reported since the proxy statement. Filing ↗
64Section 02, Nando Cesarone 2026-05-15Form 42026-05-150001225208-26-005389Insider equity transaction reported since the proxy statement. Filing ↗
65Section 02, Nando Cesarone 2026-05-15Form 42026-05-150001225208-26-005389Insider equity transaction reported since the proxy statement. Filing ↗
66Section 02, Darrell L. Ford 2026-05-15Form 42026-05-150001225208-26-005388Insider equity transaction reported since the proxy statement. Filing ↗
67Section 02, Norman M. Brothers Jr 2026-05-15Form 42026-05-150001225208-26-005387Insider equity transaction reported since the proxy statement. Filing ↗
68Section 02, Norman M. Brothers Jr 2026-05-15Form 42026-05-150001225208-26-005387Insider equity transaction reported since the proxy statement. Filing ↗
69Section 02, Bala Subramanian 2026-05-15Form 42026-05-150001225208-26-005393Insider equity transaction reported since the proxy statement. Filing ↗
70Section 02, Darrell L. Ford 2026-05-15Form 42026-05-150001225208-26-005388Insider equity transaction reported since the proxy statement. Filing ↗
71Section 02, Kate Gutmann 2026-05-15Form 42026-05-150001225208-26-005392Insider equity transaction reported since the proxy statement. Filing ↗
72Section 02, Kate Gutmann 2026-05-15Form 42026-05-150001225208-26-005392Insider equity transaction reported since the proxy statement. Filing ↗
73Section 02, Kate Gutmann 2026-05-15Form 42026-05-150001225208-26-005392Insider equity transaction reported since the proxy statement. Filing ↗
74Section 02, Darrell L. Ford 2026-05-15Form 42026-05-150001225208-26-005388Insider equity transaction reported since the proxy statement. Filing ↗
75Section 06, 2026 voteForm 8-K2026-05-110001628280-26-033522Item 5.07 · say-on-pay result. As reported: 83.57% (votes for as printed: 870,170,397). Filing ↗
76Section 06, 2025 voteForm 8-K2025-05-120001090727-25-000051Item 5.07 · say-on-pay result. As reported: 85.87% (votes for as printed: 928,214,832). Filing ↗
77Section 06, 2024 voteForm 8-K2024-05-060001090727-24-000031Item 5.07 · say-on-pay result. As reported: 89.82% (votes for as printed: 1,051,455,683). Filing ↗
78Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
79Section 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
80Section 09b board cost (computed)ComputedcomputedCash 1,723,750 + equity 2,458,750 + all other 0 = 4,182,500, summed across the director compensation table rows.machine: formula: Σ = 4,182,500
81Intel Corporation, Section 10b CEO totalDEF 14A2026-03-230000050863-26-000061CEO total compensation as printed in Intel Corporation's own proxy. As printed: 92,990,900. Filing ↗machine: r2 · c24 · span 1612980–1612990
82Cisco Systems, Inc., Section 10b CEO totalDEF 14A2025-10-280000858877-25-000150CEO total compensation as printed in Cisco Systems, Inc.'s own proxy. As printed: 52,838,751. Filing ↗machine: r2 · c33 · span 1073719–1073729
83Comcast Corporation, Section 10b CEO totalDEF 14A2026-04-240001193125-26-177138CEO total compensation as printed in Comcast Corporation's own proxy. As printed: 35,148,413. Filing ↗machine: r4 · c25 · span 1522252–1522262
84Johnson & Johnson, Section 10b CEO totalDEF 14A2026-03-110000200406-26-000063CEO total compensation as printed in Johnson & Johnson's own proxy. As printed: 32,758,111. Filing ↗machine: r3 · c27 · span 1621235–1621246
85AT&T, Inc., Section 10b CEO totalDEF 14A2026-03-230001193125-26-119888CEO total compensation as printed in AT&T, Inc.'s own proxy. As printed: 29,906,872. Filing ↗machine: t295 · r3 · c35 · span 1189292–1189302
86Walmart, Inc., Section 10b CEO totalDEF 14A2026-04-230001193125-26-173673CEO total compensation as printed in Walmart, Inc.'s own proxy. As printed: 29,240,930. Filing ↗machine: r4 · c16 · span 3840466–3840476
87Deere & Company, Section 10b CEO totalDEF 14A2026-01-140001104659-26-003618CEO total compensation as printed in Deere & Company's own proxy. As printed: 27,925,424. Filing ↗machine: t295 · r9 · c26 · span 5375554–5375564
88FedEx Corporation, Section 10b CEO totalDEF 14A2026-08-170001104659-26-097836CEO total compensation as printed in FedEx Corporation's own proxy. As printed: 27,554,018. Filing ↗machine: r1 · c54 · span 1409491–1409501
89PepsiCo, Inc., Section 10b CEO totalDEF 14A2026-03-270001308179-26-000169CEO total compensation as printed in PepsiCo, Inc.'s own proxy. As printed: 23,903,545. Filing ↗machine: r2 · c20 · span 826280–826290
90The Boeing Company, Section 10b CEO totalDEF 14A2026-03-060001193125-26-096787CEO total compensation as printed in The Boeing Company's own proxy. As printed: 23,581,389. Filing ↗machine: r2 · c44 · span 1170571–1170581
91Lockheed Martin Corporation, Section 10b CEO totalDEF 14A2026-03-260000936468-26-000004CEO total compensation as printed in Lockheed Martin Corporation's own proxy. As printed: 23,453,308. Filing ↗machine: r4 · c27 · span 1276177–1276187
92United Parcel Service (subject), Section 10b CEO totalDEF 14A2026-03-190001628280-26-019856CEO total compensation as printed in United Parcel Service's own proxy. As printed: 22,878,788. Filing ↗machine: r2 · c27 · span 899122–899132
93The Procter & Gamble Company, Section 10b CEO totalDEF 14A2025-08-290001193125-25-191749CEO total compensation as printed in The Procter & Gamble Company's own proxy. As printed: 21,909,816. Filing ↗machine: t160 · r6 · c44 · span 892224–892234
94Target Corp., Section 10b CEO totalDEF 14A2026-04-270001628280-26-027508CEO total compensation as printed in Target Corp.'s own proxy. As printed: 21,830,088. Filing ↗machine: r2 · c8 · span 2775825–2775836
95Lowe's Companies, Inc., Section 10b CEO totalDEF 14A2026-04-160000060667-26-000056CEO total compensation as printed in Lowe's Companies, Inc.'s own proxy. As printed: 21,581,889. Filing ↗machine: r2 · c8 · span 2406556–2406566
96McDonald's Corp., Section 10b CEO totalDEF 14A2026-04-070001193125-26-145548CEO total compensation as printed in McDonald's Corp.'s own proxy. As printed: 20,574,525. Filing ↗machine: r4 · c25 · span 2683025–2683035
97Caterpillar Inc., Section 10b CEO totalDEF 14A2026-04-300001308179-26-000358CEO total compensation as printed in Caterpillar Inc.'s own proxy. As printed: 17,008,077. Filing ↗machine: span 855862–855872
98The Home Depot, Inc., Section 10b CEO totalDEF 14A2026-04-070000354950-26-000090CEO total compensation as printed in The Home Depot, Inc.'s own proxy. As printed: 16,191,127. Filing ↗machine: t169 · r4 · c15 · span 1200990–1201000
99Section 10a, The Home Depot, Inc. reciprocityDEF 14A0000354950-26-000090The Home Depot, Inc.'s most recent proxy was read; its disclosed peer group does not include United Parcel Service. Filing ↗
100Section 10a, AT&T, Inc. reciprocityDEF 14A0001193125-26-119888AT&T, Inc. names United Parcel Service in its own disclosed peer group (read from its most recent proxy). Filing ↗
101Section 10a, The Boeing Company reciprocityDEF 14A0001193125-26-096787The Boeing Company names United Parcel Service in its own disclosed peer group (read from its most recent proxy). Filing ↗
102Section 10a, Cisco Systems, Inc. reciprocityDEF 14A0000858877-25-000150Cisco Systems, Inc.'s most recent proxy was read; its disclosed peer group does not include United Parcel Service. Filing ↗
103Section 10a, The Procter & Gamble Company reciprocityDEF 14A0001193125-25-191749The Procter & Gamble Company's most recent proxy was read; its disclosed peer group does not include United Parcel Service. Filing ↗
104Section 10a, Comcast Corporation reciprocityDEF 14A0001193125-26-177138Comcast Corporation's most recent proxy was read; its disclosed peer group does not include United Parcel Service. Filing ↗
105Section 10a, Johnson & Johnson reciprocityDEF 14A0000200406-26-000063Johnson & Johnson's most recent proxy was read; its disclosed peer group does not include United Parcel Service. Filing ↗
106Section 10a, Intel Corporation reciprocityDEF 14A0000050863-26-000061Intel Corporation's most recent proxy was read; its disclosed peer group does not include United Parcel Service. Filing ↗
107Section 10a, Target Corp. reciprocityDEF 14A0001628280-26-027508Target Corp. names United Parcel Service in its own disclosed peer group (read from its most recent proxy). Filing ↗
108Section 10a, Lockheed Martin Corporation reciprocityDEF 14A0000936468-26-000004Lockheed Martin Corporation names United Parcel Service in its own disclosed peer group (read from its most recent proxy). Filing ↗
109Section 10a, Caterpillar Inc. reciprocityDEF 14A0001308179-26-000358Caterpillar Inc.'s most recent proxy was read; its disclosed peer group does not include United Parcel Service. Filing ↗
110Section 10a, Lowe's Companies, Inc. reciprocityDEF 14A0000060667-26-000056Lowe's Companies, Inc.'s most recent proxy was read; its disclosed peer group does not include United Parcel Service. Filing ↗
111Section 10a, Walmart, Inc. reciprocityDEF 14A0001193125-26-173673Walmart, Inc. names United Parcel Service in its own disclosed peer group (read from its most recent proxy). Filing ↗
112Section 10a, Deere & Company reciprocityDEF 14A0001104659-26-003618Deere & Company's most recent proxy was read; its disclosed peer group does not include United Parcel Service. Filing ↗