V
Velarion™Intelligence
Sign InFree TrialBook a Walkthrough
Gaming & Lodging

Boyd Gaming Executive Compensation (FY25)

BYD · Las Vegas, NV · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): May 8, 2026
242 figures on this page: 236 cited to the filing that reported them, 6 calculated from figures it prints. See the citations
Keith Smith, President and CEO, received $14,697,487 in total compensation for fiscal 2025, and compared with the $11,495,978 reported for fiscal 2024, Smith's total was 27.8% higher. The disclosed chief executive pay ratio for fiscal 2025 is 375:1, against median employee compensation of $39,154. Shareholders supported the say-on-pay proposal with 74.5% of votes cast for or against in favor at the meeting held May 7, 2026 for fiscal 2025. Companies named in the disclosed peer group include Bally's Corporation, Caesars Entertainment, Inc., Churchill Downs Incorporated, Golden Entertainment, Inc. and Hilton Grand Vacations Inc., among others.
Chief executive, fiscal 2025
◇
Keith Smith
Latest say-on-pay support
=
May 7, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Keith Smith: $11,495,978 → $14,697,487 (27.8% higher)
Say-on-pay support: 90.4% → 74.5% (15.9 points lower)
CEO pay ratio: 304:1 → 375:1 (23.4% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Boyd Gaming's chief executive and what were they paid?
Keith Smith, President and CEO, received $14,697,487 in total compensation for fiscal 2025. Compared with the $11,495,978 reported for fiscal 2024, Smith's total was 27.8% higher.
What was Boyd Gaming's say-on-pay result?
Shareholders supported the say-on-pay proposal with 74.5% of votes cast for or against in favor at the meeting held May 7, 2026 for fiscal 2025.
Which companies are in Boyd Gaming's peer group?
Companies named in the disclosed peer group include Bally's Corporation, Caesars Entertainment, Inc., Churchill Downs Incorporated, Golden Entertainment, Inc. and Hilton Grand Vacations Inc., among others.
What is Boyd Gaming's chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 375:1, against median employee compensation of $39,154.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Keith Smith
President and Chief Executive Officer
◇—◇—◇—◇◇
Josh Hirsberg
Executive Vice President, Chief Financial Officer and Treasurer
◇—◇—◇—◇◇
Stephen Thompson
Executive Vice President and Chief Operating Officer
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Keith Smith
President and Chief Executive Officer
◇—◇—◇—◇◇
Josh Hirsberg
Executive Vice President, Chief Financial Officer and Treasurer
◇—◇—◇—◇◇
Stephen Thompson
Executive Vice President and Chief Operating Officer
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Keith Smith
President and Chief Executive Officer
◇—◇—◇—◇◇
Josh Hirsberg
Chief Financial Officer and Treasurer
◇—◇—◇—◇◇
Stephen Thompson
Chief Administrative Officer
◇—◇—◇—◇◇
Theodore Bogich
Chief Operating Officer
◇—◇—◇—◇◇
Uri Clinton
General Counsel and Corporate Secretary
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Keith Smith
President and CEO
◇—◇—◇—◇◇
Josh Hirsberg
Chief Financial Officer and Treasurer
◇—◇—◇—◇◇
Stephen Thompson
Chief Administrative Officer
◇—◇—◇—◇◇
Theodore Bogich
Chief Operating Officer
◇—◇—◇—◇◇
Uri Clinton
General Counsel and Corporate Secretary
◇—◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Josh HirsbergPerformance Share◇◇◇—◇—◇
Josh HirsbergRSU◇——◇——◇
Josh HirsbergRSU◇——◇——◇
Keith SmithRSU◇——◇——◇
Keith SmithRSU◇——◇——◇
Keith SmithPerformance Share◇◇◇—◇—◇
Stephen ThompsonRSU◇——◇——◇
Stephen ThompsonRSU◇——◇——◇
Stephen ThompsonPerformance Share◇◇◇—◇—◇
Theodore BogichRSU◇——◇——◇
Theodore BogichPSA◇◇◇—◇—◇
Theodore BogichRSU◇——◇——◇
Uri ClintonPSA◇◇◇—◇—◇
Uri ClintonRSU◇——◇——◇
Uri ClintonRSU◇——◇——◇
Fiscal 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Uri ClintonPSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
Josh HirsbergRSU◇◇——
Option◇—◇—
RSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
Keith SmithRSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
Theodore BogichPSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
Stephen ThompsonRSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
John Bailey
◇◇————◇
Christine Spadafor
◇◇————◇
A. Randall Thoman
◇◇————◇
Paul Whetsell
◇◇————◇
Michael Hartmeier
◇◇————◇
William R. Boyd
◇◇————◇
Marianne Boyd Johnson and Keith Smith served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Lead independent director premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Equity is delivered as restricted stock units.
Stock ownership guideline: 5 times annual cash retainer

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Bally's Corporation BALY
  • Caesars Entertainment, Inc. CZR
  • Churchill Downs Incorporated CHDN
  • Golden Entertainment, Inc. GDEN
  • Hilton Grand Vacations Inc. HGV
  • Hyatt Hotels Corporation H
  • Light & Wonder, Inc. LAWIL
  • Marriott Vacations Worldwide Corporation VAC
  • MGM Resorts International MGM
  • PENN Entertainment, Inc. PENN
  • Red Rock Resorts, Inc. RRR
  • Six Flags Entertainment Corporation FUN
  • Travel + Leisure Co. TNL
  • Vail Resorts, Inc. MTN
  • Wynn Resorts, Limited WYNN

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 7, 2026=◇◇◇
2024May 8, 2025=◇◇◇
2023May 9, 2024=◇◇◇
2022May 4, 2023=◇◇◇
2019April 9, 2020=◇◇◇
2016April 13, 2017=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
Email me this page as a cited PDF
The same figures, the same citations, formatted to hand to a committee. Nothing is added that is not on this page.
Your address is used for this and nothing else. Unsubscribe in one click.
Tell me when Boyd Gaming files
You get a note when this company’s compensation data changes.
Your address is used for this and nothing else. Unsubscribe in one click.

What this page does not include

Everything above is a fact Boyd Gaming disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Boyd Gaming sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
Enquire about access
Multiple companies at once
Cross-company views, cohort screens, and data export across the industries we cover. This page is one company; the platform is all of them.
Velarion Intelligence
Join the list for a Velarion Pro seat
Full platform access for one person: every industry we cover, peer positioning, and the written analysis. We will email you when it opens.
Your address is used for this and nothing else. Unsubscribe in one click.
Join the list for Peer Group Review
Whether Boyd Gaming's disclosed peer group is defensible, who names Boyd Gaming back in their own benchmarking group, and how pay tracks performance across it. This is the analysis a compensation consultant delivers on the group above. We will email you when it opens.
Your address is used for this and nothing else. Unsubscribe in one click.

Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
242 figures on this page: 236 cited to the filing that reported them, 6 calculated from figures it prints.
236 cited to the filing
6 calculated from the filing

Documents cited

  1. 0001437749-26-015901
  2. 0001193125-26-116798
    CEO Pay Ratio · Director Compensation · Grants of Plan-Based Awards · OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END · and 1 more section
  3. 0001437749-25-016116
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001193125-25-059740
    SUMMARY COMPENSATION
  5. 0001437749-24-016111
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001193125-24-074498
    SUMMARY COMPENSATION TABLE
  7. 0001437749-23-013018
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001193125-23-076744
    SUMMARY COMPENSATION TABLE
  9. 0001437749-20-007679
  10. 0000906553-17-000025
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Boyd Gaming executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/BYD (accessed 2026).
Short form: data: Velarion
Embed this data
A small, cited view of this data for your own page or newsletter. Every embed carries a visible link back here, so the attribution travels with it.
The headline figures, each with its citation.
Connect an AI assistant
Ask your own assistant about Boyd Gaming and roughly 3,000 other US public companies, and get back the same figures on this page with the same citations. Free read access, no account. Add this to your assistant's connector settings.
Setup guide and the full list of questions it answers

Gaming & Lodging rankings

Chief executive pay — Gaming & LodgingCEO pay ratio — Gaming & LodgingSay-on-pay support — Gaming & Lodging

Peers Boyd Gaming discloses

The companies named in BYD's own disclosed peer group.

Bally's CorporationCaesars Entertainment, Inc.Hyatt Hotels CorporationMGM Resorts InternationalPENN Entertainment, Inc.Red Rock Resorts, Inc.Six Flags Entertainment CorporationTravel + Leisure Co.Vail Resorts, Inc.Wynn Resorts, Limited

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
For informational purposes only. Not investment, legal, or compensation advice.  The Pay Desk · Methodology · Terms · Privacy