PACCAR Inc, a leading global manufacturer of commercial vehicles, disclosed key executive compensation updates and voting results at its annual meeting held on April 29, 2025. This release directly impacts shareholders by revealing substantial long-term incentives for top executives and providing transparency into CEO-to-employee compensation ratios.
The Compensation Committee approved Long Term Performance Cash Awards (LTIP Cash Awards) for the 2022-2024 cycle, significantly enhancing the total compensation for PACCAR’s Named Executive Officers. CEO R. P. Feight’s total compensation reached \(17.36 million, including \)5.18 million from the Non-Equity Incentive Plan and $17.36 million from LTIP Cash Awards. Other executives also received notable compensation increases, emphasizing PACCAR’s focus on rewarding performance and retaining leadership talent.
The company reported the median employee’s annual total compensation for 2024 as $91,985, establishing a CEO-to-median employee pay ratio of 189 to 1, a critical transparency metric reflecting executive pay relative to general workforce compensation.
At the annual meeting, shareholders voted to re-elect directors, approve executive compensation, and ratify independent auditors with majority support, validating PACCAR’s leadership and governance structures. However, a shareholder proposal concerning excessive golden parachutes did not pass.
PACCAR’s 2024 fiscal year financial performance provides context for these compensation decisions. The company generated \(33.66 billion in revenue and \)4.16 billion in net income, highlighting robust profitability during this period and capacity to sustain executive incentives.
This financial strength coupled with strategic incentive programs underscores PACCAR’s commitment to aligning executive performance with shareholder value. The 189:1 pay ratio offers investors insight into the company’s compensation philosophy within its manufacturing sector.
For further information refer to the official SEC filing of the 8-K report: https://sec.gov/Archives/edgar/data/75362/000119312525111679/d773272d8k.htm
Tags: PACCAR executive compensation, CEO pay ratio, 2025 annual meeting, Long Term Incentive Plan, shareholder voting results