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.
Each company listed discloses WERN 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 WERN in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Derek Leathers | $974,077 | $0 | $4,200,000 | $0 | $745,106 | $0 | $129,366 | $6,048,549 |
| Chief Executive Officer | ||||||||
| Nathan Meisgeier | 545,769 | 0 | 600,000 | 0 | 230,340 | 0 | 8,633 | 1,384,742 |
| President & Chief Legal Officer | ||||||||
| Christopher Wikoff | 520,000 | 0 | 500,000 | 0 | 224,952 | 0 | 13,778 | 1,258,730 |
| EVP, Treasurer & Chief Financial Officer | ||||||||
| Eric Downing | 472,308 | 0 | 500,000 | 0 | 186,822 | 0 | 3,133 | 1,162,263 |
| EVP & Chief Operating Officer | ||||||||
| Daragh Mahon | 438,231 | 0 | 450,000 | 0 | 183,162 | 0 | 6,083 | 1,077,476 |
| EVP & Chief Information 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 |
|---|---|---|---|---|
| Derek Leathers | $6,048,549 | $5,824,493 | $5,446,752 | +224,056 |
| Nathan Meisgeier | 1,384,742 | 1,776,583 | 1,060,709 | −391,841 |
| Christopher Wikoff | 1,258,730 | 1,415,314 | 1,758,650 | −156,584 |
| Eric Downing | 1,162,263 | 1,618,717 | — | −456,454 |
| Daragh Mahon | 1,077,476 | 1,421,503 | — | −344,027 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
No insider equity transactions reported since the proxy statement.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Derek Leathers | PSU | 2025-02-13 | 31,978 | 63,956 | — | 143,901 | $2,100,000 |
| Eric Downing | PSU | 2025-02-13 | 3,807 | 7,614 | — | 17,132 | 250,000 |
| Eric Downing | RSU | 2025-02-13 | — | — | 7,496 | — | — |
| Derek Leathers | RSU | 2025-02-13 | — | — | 62,966 | — | — |
| Daragh Mahon | PSU | 2025-02-13 | 3,426 | 6,852 | — | 15,417 | 225,000 |
| Daragh Mahon | RSU | 2025-02-13 | — | — | 6,746 | — | — |
| Nathan Meisgeier | RSU | 2025-02-13 | — | — | 8,995 | — | — |
| Nathan Meisgeier | PSU | 2025-02-13 | 4,569 | 9,137 | — | 20,558 | 300,000 |
| Christopher Wikoff | PSU | 2025-02-13 | 3,807 | 7,614 | — | 17,132 | 250,000 |
| Christopher Wikoff | RSU | 2025-02-13 | — | — | 7,496 | — | — |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Derek Leathers | $0 | $2,100,000 | $0 | 100.0% |
| Eric Downing | 0 | 250,000 | 0 | 100.0% |
| Daragh Mahon | 0 | 225,000 | 0 | 100.0% |
| Nathan Meisgeier | 0 | 300,000 | 0 | 100.0% |
| Christopher Wikoff | 0 | 250,000 | 0 | 100.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Derek Leathers | RSU | 31,733 | — | $952,307 |
| Derek Leathers | RSU | 62,966 | — | 1,889,610 |
| Derek Leathers | RSU | 31,978 | — | 959,660 |
| Christopher Wikoff | RSU | 13,804 | — | 414,258 |
| Derek Leathers | RSU | 12,917 | — | 387,639 |
| Nathan Meisgeier | RSU | 12,702 | — | 381,187 |
| Eric Downing | RSU | 12,702 | — | 381,187 |
| Daragh Mahon | RSU | 10,161 | — | 304,932 |
| Nathan Meisgeier | RSU | 8,995 | — | 269,940 |
| Christopher Wikoff | RSU | 7,496 | — | 224,955 |
| Eric Downing | RSU | 7,496 | — | 224,955 |
| Daragh Mahon | RSU | 6,746 | — | 202,447 |
| Christopher Wikoff | RSU | 5,081 | — | 152,481 |
| Nathan Meisgeier | RSU | 4,569 | — | 137,116 |
| Nathan Meisgeier | RSU | 4,069 | — | 122,111 |
| Eric Downing | RSU | 4,069 | — | 122,111 |
| Christopher Wikoff | RSU | 3,807 | — | 114,248 |
| Eric Downing | RSU | 3,807 | — | 114,248 |
| Christopher Wikoff | RSU | 3,499 | — | 105,005 |
| Daragh Mahon | RSU | 3,426 | — | 102,814 |
| Daragh Mahon | RSU | 3,255 | — | 97,683 |
| Nathan Meisgeier | RSU | 1,436 | — | 43,094 |
| Eric Downing | RSU | 1,256 | — | 37,693 |
| Daragh Mahon | RSU | 1,256 | — | 37,693 |
The executive compensation program is designed to attract, motivate, and retain talented high-quality executives, reward individual performance and contribution to business objectives, and align executive interests with stockholders through equity-based compensation and stock ownership guidelines.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Frederic W. Cook & Co. |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-12 | 54,000,280 | 1,369,015 | 840,801 | 97.53% | Passed |
| 2025 | 2025-05-13 | 49,281,522 | 4,486,858 | 1,733,387 | 91.66% | Passed |
| 2024 | 2024-05-14 | 52,667,129 | 6,776,302 | 59,989 | 88.51% | Passed |
| 2023 | 2023-05-09 | 53,577,646 | 2,220,232 | 37,400 | 95.96% | Passed |
| 2022 | 2022-05-10 | 55,177,917 | 2,827,839 | 53,846 | 95.04% | Passed |
| 2021 | 2021-05-11 | 60,476,402 | 1,885,428 | 77,270 | 96.86% | 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 |
|---|---|---|
| 2026 | 2026-05-12 | 97.53%a |
| 2025 | 2025-05-13 | 91.66%b |
| 2024 | 2024-05-14 | 88.51%c |
a. Approved under the standard stated in the filing — “Abstentions and broker non-votes will not be counted as votes cast and will have no effect on the outcome of such vote.”.
b. Approved under the standard stated in the filing — “Abstentions and broker non-votes will not be counted as votes cast and will have no effect on the outcome of such vote.”.
c. Approved under the standard stated in the filing — “Abstentions will be counted as votes cast and will have the same effect as a vote against the resolution.”.
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) | 113 : 1 |
|---|---|
| CEO total compensation | — |
| Median employee compensation | — |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Scott C. ArvesIndependent · Lead Independent Director · Compensation Committee · Governance Committee (Chair) | $110,000 | $100,000 | — | — | $0 | $210,000 |
| Alexi A. WellmanIndependent · Audit Committee (Chair) · Compensation Committee | 90,000 | 100,000 | — | — | 0 | 190,000 |
| Carmen A. TapioIndependent · ESG Committee (Chair) · Governance Committee | 85,000 | 100,000 | — | — | 0 | 185,000 |
| Diane K. DurenIndependent · Compensation Committee (Chair) · ESG Committee | 85,000 | 100,000 | — | — | 0 | 185,000 |
| Jack A. HolmesIndependent · Compensation Committee · Governance Committee | 75,000 | 100,000 | — | — | 0 | 175,000 |
| Michelle D. GreeneIndependent · Audit Committee · Governance Committee | 75,000 | 100,000 | — | — | 0 | 175,000 |
| Michelle D. LivingstoneIndependent · Audit Committee · ESG Committee | 75,000 | 100,000 | — | — | 0 | 175,000 |
| M. Gayle PackerIndependent · Audit Committee · ESG Committee · Newly elected | 47,596 | 100,000 | — | — | 0 | 147,596 |
| Derek J. LeathersEmployee director · Board Chair · Board of Directors | — | — | — | — | — | 0 |
| Annual cash retainer | $75,000 |
|---|---|
| Annual equity retainer | $100,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 15,000 / 10,000 / 10,000 |
| Stock ownership guideline | $5 |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $642,596 |
| Equity awards (grant-date value) | $800,000 |
| All other compensation | $0 |
| Total cost of the board | $1,442,596 |
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.
Of the companies Werner Enterprises 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 Werner Enterprises.
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 | Old Dominion Freight Line | 2025 | Kevin Freeman | $1,033,680 | $2,377,606 | $0 | $8,167,847 | $11,615,896 |
| 2 | J.B. Hunt | 2025 | Shelley Simpson | 961,385 | 6,927,529 | 0 | 1,067,421 | 9,004,371 |
| 3 | Schneider National | 2025 | Mark Rourke | 1,000,000 | 5,704,174 | 0 | 569,120 | 7,380,101 |
| 4 | Werner Enterprises | 2025 | Derek Leathers | 974,077 | 4,200,000 | 0 | 745,106 | 6,048,549 |
| 5 | Knight-Swift Transportation | 2025 | Adam Miller | 950,000 | 3,242,667 | — | 803,130 | 5,011,329 |
| 6 | Hub Group | 2024 | Phillip Yeager | 850,000 | 2,400,342 | — | 552,500 | 3,964,450 |
| 7 | Radiant Logistics | 2025 | Bohn Crain | 451,731 | 902,522 | 0 | 170,117 | 1,776,627 |
| — | Saia | — | — | — | — | — | — | not in coverage universe |
| — | TFI International | — | — | — | — | — | — | not in coverage universe |
| — | Covenant Logistics Group | — | — | — | — | — | — | not in coverage universe |
| — | ArcBest | — | — | — | — | — | — | not in coverage universe |
| — | RXO | — | — | — | — | — | — | 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.
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Werner Enterprises | not disclosed | Restricted Stock 50 · Performance Stock 50 | not disclosed | Frederic W. Cook & Co. |
| ArcBest | not disclosed | not disclosed | not disclosed | not disclosed |
| Covenant Logistics Group | not disclosed | not disclosed | not disclosed | not disclosed |
| Hub Group | not disclosed | not disclosed | not disclosed | Aon |
| J.B. Hunt | not disclosed | not disclosed | No | Meridian Compensation Partners, LLC |
| Knight-Swift Transportation | not disclosed | PRSU 60 · RSU 40 | not disclosed | Pearl Meyer |
| Old Dominion Freight Line | not disclosed | not disclosed | Yes — Three-year relative TSR compared to companies in the Dow Jones Transportation Average | Pearl Meyer |
| Radiant Logistics | not disclosed | PSU 81 · RSU 19 | not disclosed | Meridian Compensation Partners |
| RXO | not disclosed | not disclosed | not disclosed | not disclosed |
| Saia | not disclosed | not disclosed | not disclosed | not disclosed |
| Schneider National | not disclosed | PSU 60 · RSU 40 | not disclosed | Frederic W. Cook & Co, Inc. |
| TFI International | not disclosed | not disclosed | not disclosed | not 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.
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, Derek Leathers | DEF 14A | 2026-03-31 | 0000793074-26-000083 | Section “SUMMARY COMPENSATION TABLE” · page 33. As printed: 6,048,549. Filing ↗machine: r3 · c24 · span 647131–647140 |
| 2 | Section 01, Nathan Meisgeier | DEF 14A | 2026-03-31 | 0000793074-26-000083 | Section “SUMMARY COMPENSATION TABLE” · page 33. As printed: 1,384,742. Filing ↗machine: r9 · c24 · span 661266–661275 |
| 3 | Section 01, Christopher Wikoff | DEF 14A | 2026-03-31 | 0000793074-26-000083 | Section “SUMMARY COMPENSATION TABLE” · page 33. As printed: 1,258,730. Filing ↗machine: r6 · c24 · span 654259–654268 |
| 4 | Section 01, Eric Downing | DEF 14A | 2026-03-31 | 0000793074-26-000083 | Section “SUMMARY COMPENSATION TABLE” · page 33. As printed: 1,162,263. Filing ↗machine: r12 · c24 · span 668354–668363 |
| 5 | Section 01, Daragh Mahon | DEF 14A | 2026-03-31 | 0000793074-26-000083 | Section “SUMMARY COMPENSATION TABLE” · page 33. As printed: 1,077,476. Filing ↗machine: r15 · c24 · span 674974–674983 |
| 6 | Section 03, Derek Leathers PSU | DEF 14A | 2026-03-31 | 0000793074-26-000083 | Section “GRANTS OF PLAN-BASED AWARDS FOR 202” · grants of plan-based awards table. Filing ↗ |
| 7 | Section 03, Eric Downing PSU | DEF 14A | 2026-03-31 | 0000793074-26-000083 | Section “GRANTS OF PLAN-BASED AWARDS FOR 202” · grants of plan-based awards table. Filing ↗ |
| 8 | Section 03, Eric Downing RSU | DEF 14A | 2026-03-31 | 0000793074-26-000083 | Section “GRANTS OF PLAN-BASED AWARDS FOR 202” · grants of plan-based awards table. Filing ↗machine: span 738230–738235 |
| 9 | Section 03, Derek Leathers RSU | DEF 14A | 2026-03-31 | 0000793074-26-000083 | Section “GRANTS OF PLAN-BASED AWARDS FOR 202” · grants of plan-based awards table. Filing ↗machine: span 723531–723537 |
| 10 | Section 03, Daragh Mahon PSU | DEF 14A | 2026-03-31 | 0000793074-26-000083 | Section “GRANTS OF PLAN-BASED AWARDS FOR 202” · grants of plan-based awards table. Filing ↗ |
| 11 | Section 03, Daragh Mahon RSU | DEF 14A | 2026-03-31 | 0000793074-26-000083 | Section “GRANTS OF PLAN-BASED AWARDS FOR 202” · grants of plan-based awards table. Filing ↗machine: span 742549–742554 |
| 12 | Section 03, Nathan Meisgeier RSU | DEF 14A | 2026-03-31 | 0000793074-26-000083 | Section “GRANTS OF PLAN-BASED AWARDS FOR 202” · grants of plan-based awards table. Filing ↗machine: span 733061–733066 |
| 13 | Section 03, Nathan Meisgeier PSU | DEF 14A | 2026-03-31 | 0000793074-26-000083 | Section “GRANTS OF PLAN-BASED AWARDS FOR 202” · grants of plan-based awards table. Filing ↗ |
| 14 | Section 03, Christopher Wikoff PSU | DEF 14A | 2026-03-31 | 0000793074-26-000083 | Section “GRANTS OF PLAN-BASED AWARDS FOR 202” · grants of plan-based awards table. Filing ↗ |
| 15 | Section 03, Christopher Wikoff RSU | DEF 14A | 2026-03-31 | 0000793074-26-000083 | Section “GRANTS OF PLAN-BASED AWARDS FOR 202” · grants of plan-based awards table. Filing ↗machine: span 728738–728743 |
| 16 | Section 07, pay ratio | DEF 14A | 2026-03-31 | 0000793074-26-000083 | Section “CEO Pay Ratio”. As printed: 113 : 1. Filing ↗machine: span 871181–871184 |
| 17 | Section 08, Scott C. Arves | DEF 14A | 2026-03-31 | 0000793074-26-000083 | Section “Director Compensation”. As printed: 210,000. Filing ↗machine: span 312397–312404 |
| 18 | Section 08, Alexi A. Wellman | DEF 14A | 2026-03-31 | 0000793074-26-000083 | Section “Director Compensation”. As printed: 190,000. Filing ↗machine: span 324204–324211 |
| 19 | Section 08, Carmen A. Tapio | DEF 14A | 2026-03-31 | 0000793074-26-000083 | Section “Director Compensation”. As printed: 185,000. Filing ↗machine: span 322567–322574 |
| 20 | Section 08, Diane K. Duren | DEF 14A | 2026-03-31 | 0000793074-26-000083 | Section “Director Compensation”. As printed: 185,000. Filing ↗machine: span 314007–314014 |
| 21 | Section 08, Jack A. Holmes | DEF 14A | 2026-03-31 | 0000793074-26-000083 | Section “Director Compensation”. As printed: 175,000. Filing ↗machine: span 317466–317473 |
| 22 | Section 08, Michelle D. Greene | DEF 14A | 2026-03-31 | 0000793074-26-000083 | Section “Director Compensation”. As printed: 175,000. Filing ↗machine: span 315831–315838 |
| 23 | Section 08, Michelle D. Livingstone | DEF 14A | 2026-03-31 | 0000793074-26-000083 | Section “Director Compensation”. As printed: 175,000. Filing ↗machine: span 319110–319117 |
| 24 | Section 08, M. Gayle Packer | DEF 14A | 2026-03-31 | 0000793074-26-000083 | Section “Director Compensation”. As printed: 147,596. Filing ↗machine: span 320931–320938 |
| 25 | Section 08, Derek J. Leathers | DEF 14A | 2026-03-31 | 0000793074-26-000083 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 26 | Section 06, 2026 vote | Form 8-K | 2026-05-13 | 0000793074-26-000103 | Item 5.07 · say-on-pay result. As reported: 97.53% (votes for as printed: 54,000,280). Filing ↗ |
| 27 | Section 06, 2025 vote | Form 8-K | 2025-05-15 | 0000793074-25-000030 | Item 5.07 · say-on-pay result. As reported: 91.66% (votes for as printed: 49,281,522). Filing ↗ |
| 28 | Section 06, 2024 vote | Form 8-K | 2024-05-15 | 0000793074-24-000042 | Item 5.07 · say-on-pay result. As reported: 88.51% (votes for as printed: 52,667,129). Filing ↗ |
| 29 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 30 | Section 03b vehicle mix (computed) | Computed | — | computed | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 31 | Section 09b board cost (computed) | Computed | — | computed | Cash 642,596 + equity 800,000 + all other 0 = 1,442,596, summed across the director compensation table rows.machine: formula: Σ = 1,442,596 |
| 32 | Old Dominion Freight Line, Section 10b CEO total | DEF 14A | 2026-04-20 | 0000878927-26-000006 | CEO total compensation as printed in Old Dominion Freight Line's own proxy. As printed: 11,615,896. Filing ↗machine: t7 · r4 · c12 · span 336288–336298 |
| 33 | J.B. Hunt, Section 10b CEO total | DEF 14A | 2026-03-11 | 0001437749-26-007732 | CEO total compensation as printed in J.B. Hunt's own proxy. As printed: 9,004,371. Filing ↗machine: r1 · c21 · span 825167–825176 |
| 34 | Schneider National, Section 10b CEO total | DEF 14A | 2026-03-17 | 0001104659-26-029426 | CEO total compensation as printed in Schneider National's own proxy. As printed: 7,380,101. Filing ↗machine: r1 · c42 · span 1012102–1012111 |
| 35 | Werner Enterprises (subject), Section 10b CEO total | DEF 14A | 2026-03-31 | 0000793074-26-000083 | CEO total compensation as printed in Werner Enterprises's own proxy. As printed: 6,048,549. Filing ↗machine: r3 · c24 · span 647131–647140 |
| 36 | Knight-Swift Transportation, Section 10b CEO total | DEF 14A | 2026-04-02 | 0001492691-26-000025 | CEO total compensation as printed in Knight-Swift Transportation's own proxy. As printed: 5,011,329. Filing ↗ |
| 37 | Hub Group, Section 10b CEO total | DEF 14A | 2025-04-03 | 0001140361-25-012045 | CEO total compensation as printed in Hub Group's own proxy. As printed: 3,964,450. Filing ↗ |
| 38 | Radiant Logistics, Section 10b CEO total | DEF 14A | 2025-10-07 | 0001193125-25-233492 | CEO total compensation as printed in Radiant Logistics's own proxy. As printed: 1,776,627. Filing ↗machine: r2 · c18 · span 855183–855192 |
| 39 | Section 10a, Hub Group reciprocity | DEF 14A | — | 0001140361-25-012045 | Hub Group names Werner Enterprises in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 40 | Section 10a, Old Dominion Freight Line reciprocity | DEF 14A | — | 0000878927-26-000006 | Old Dominion Freight Line's most recent proxy was read; its disclosed peer group does not include Werner Enterprises. Filing ↗ |
| 41 | Section 10a, J.B. Hunt reciprocity | DEF 14A | — | 0001437749-26-007732 | J.B. Hunt's most recent proxy was read; its disclosed peer group does not include Werner Enterprises. Filing ↗ |
| 42 | Section 10a, Schneider National reciprocity | DEF 14A | — | 0001104659-25-024115 | Schneider National names Werner Enterprises in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 43 | Section 10a, Knight-Swift Transportation reciprocity | DEF 14A | — | 0001492691-26-000025 | Knight-Swift Transportation's most recent proxy was read; its disclosed peer group does not include Werner Enterprises. Filing ↗ |