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Carrier Global Executive Compensation (FY25)

CARR · Palm Beach Gardens, FL · Executive and director compensation, fiscal 2022 to 2025

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Data as of September 7, 2026Latest filing (8-K): April 16, 2026
11 filings cited on this page
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Carrier Global brief$1,500Get the executive brief
325 figures on this page: 319 cited to the filing that reported them, 6 calculated from figures it prints. See the citations
Chief executive, fiscal 2025
◇
David Gitlin
Latest say-on-pay support
=
April 15, 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 — David Gitlin: $65,734,245 → $14,962,913 (77.2% lower)
CEO pay ratio: 1,289:1 → 319:1 (75.3% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Carrier Global's chief executive and what were they paid?
Total compensation for David Gitlin, Chairman & Chief Executive Officer, came to $14,962,913 in fiscal 2025. Gitlin's total was 77.2% lower than the $65,734,245 reported for fiscal 2024.
What was Carrier Global's say-on-pay result?
Shareholders supported the say-on-pay proposal with 91.7% of votes cast including abstentions in favor at the meeting held April 15, 2026 for fiscal 2025.
Which companies are in Carrier Global's peer group?
Companies named in the disclosed peer group include 3M Co., Caterpillar Inc., Cummins Inc., Deere & Company and Eaton Corporation plc, among others.
What is Carrier Global's chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 319:1, against median employee compensation of $46,976.

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
David Gitlin
Chairman & Chief Executive Officer
◇—◇◇◇——◇
Patrick Goris
Senior Vice President & Chief Financial Officer
◇—◇◇◇——◇
Jurgen Timperman
Former President, Fire & Security
Departed during or after this year
◇—◇◇◇——◇
Kevin O'Connor
Former Senior Vice President & Chief Legal Officer
Departed during or after this year
◇—◇◇◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
David Gitlin
Chairman & Chief Executive Officer
◇—◇◇◇◇◇◇
Patrick Goris
Senior Vice President & Chief Financial Officer
◇—◇◇◇—◇◇
Jurgen Timperman
Former President, Fire & Security
Departed during or after this year
◇—◇◇◇—◇◇
Christopher Nelson
Former President, HVAC
Departed during or after this year
◇—◇◇—◇◇◇
Kevin O'Connor
Former Senior Vice President & Chief Legal Officer
Departed during or after this year
◇—◇◇◇—◇◇
Timothy White
President, Refrigeration
◇—◇◇◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
David Gitlin
Chairman & Chief Executive Officer
◇—◇◇◇—◇◇
Patrick Goris
Senior Vice President & Chief Financial Officer
◇◇◇◇◇——◇
Jurgen Timperman
Former President, Fire & Security
Departed during or after this year
◇◇◇—◇—◇◇
Ajay Agrawal
Senior Vice President, Global Services, Business Development & Chief Strategy Officer
◇—◇◇◇——◇
Gaurang Pandya
Executive Vice President, Climate Solutions Americas
◇◇◇◇◇——◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
David Gitlin
Chairman & Chief Executive Officer
◇—◇◇◇◇◇◇
Michael Gierges
President, Climate Solutions Asia Pacific, Middle East & Africa
◇◇◇◇◇—◇◇
Patrick Goris
Executive Vice President, Chief Financial & Strategy Officer
◇—◇◇◇—◇◇
Gaurang Pandya
President, Climate Solutions Americas
◇—◇◇◇—◇◇
Edward Dryden
President, Climate Solutions Transportation
◇—◇◇◇—◇◇
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
David GitlinPSU◇——◇—◇◇
David GitlinPSU◇——◇—◇◇
Edward DrydenPSU◇——◇—◇◇
Edward DrydenPSU◇——◇—◇◇
Gaurang PandyaPSU◇——◇—◇◇
Gaurang PandyaPSU◇——◇—◇◇
Michael GiergesPSU◇——◇—◇◇
Michael GiergesPSU◇——◇—◇◇
Michael GiergesRSU◇——◇—◇◇
Michael GiergesRSU◇——◇—◇◇
Patrick GorisPSU◇——◇—◇◇
Patrick GorisPSU◇——◇—◇◇
Fiscal 2022, 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
David GitlinPSU◇◇——
PSU◇◇——
Option◇—◇29-Jan-2034
PSU◇◇——
Option◇—◇29-Jan-2034
Option◇—◇31-Jan-2033
RSU◇◇——
PSU◇◇——
Option◇—◇05-Feb-2035
Edward DrydenRSU◇◇——
Option◇—◇05-Feb-2035
PSU◇◇——
PSU◇◇——
Option◇—◇30-Jun-2034
Michael GiergesPSU◇◇——
Option◇—◇31-Mar-2035
PSU◇◇——
Option◇—◇31-Mar-2035
Patrick GorisPSU◇◇——
Option◇—◇29-Jan-2034
Option◇—◇05-Feb-2035
Option◇—◇31-Jan-2033
PSU◇◇——
PSU◇◇——
Option◇—◇29-Jan-2034
PSU◇◇——
Gaurang PandyaPSU◇◇——
Option◇—◇29-Jan-2034
RSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
Option◇—◇31-Jan-2033
Option◇—◇05-Feb-2035
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
David Gitlin
Chairman & Chief Executive Officer · Change-in-control agreement
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Edward Dryden
President, Climate Solutions Transportation · Change-in-control agreement
Severance multiple◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Gaurang Pandya
President, Climate Solutions Americas · Change-in-control agreement
Severance multiple◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Michael Gierges
President, Climate Solutions Asia Pacific, Middle East & Africa · Change-in-control agreement
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Patrick Goris
Executive Vice President, Chief Financial & Strategy Officer · Change-in-control agreement
Severance multiple◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Amy E. Miles
◇◇———◇◇
Virginia M. Wilson
◇◇———◇◇
John J. Greisch
Lead independent director
◇◇———◇◇
Michael A. Todman
◇◇———◇◇
Charles M. Holley Jr
◇◇———◇◇
Michael M. McNamara
◇◇———◇◇
Susan N. Story
◇◇———◇◇
Jean-Pierre Garnier
◇◇———◇◇
Max Viessmann
◇◇———◇◇
David L. Gitlin 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◇
Nominating and governance chair◇
Committee meeting fee◇
Equity is delivered as DSUs (Deferred Stock Units).
Stock ownership guideline: 5x base annual cash retainer ($650,000)

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • 3M Co. MMM
  • Caterpillar Inc. CAT
  • Cummins Inc. CMI
  • Deere & Company DE
  • Eaton Corporation plc ETN
  • Emerson Electric Co. EMR
  • Honeywell International Inc. HON
  • Illinois Tool Works Inc. ITW
  • Johnson Controls International plc JCI
  • Otis Worldwide Corporation OTIS
  • Parker Hannifin Corporation PH
  • Stanley Black & Decker, Inc. SWK
  • TE Connectivity Ltd. TEL
  • Trane Technologies plc TT
  • Whirlpool Corporation WHR

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025April 15, 2026=◇◇◇
2024April 9, 2025=◇◇◇
2023April 18, 2024=◇◇◇
2022April 20, 2023=◇◇◇
2021April 14, 2022=◇◇◇
2020April 19, 2021=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact Carrier Global disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Carrier Global 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.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
325 figures on this page: 319 cited to the filing that reported them, 6 calculated from figures it prints.
319 cited to the filing
6 calculated from the filing

Documents cited

  1. 0000950142-26-001146
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001783180-26-000016
    CEO Pay Ratio · Compensation of Directors · Grants of Plan-Based Awards · Non-Employee Director Annual Retainer · and 2 more sections
  3. 0001783180-25-000021
  4. 0001783180-25-000014
    Summary Compensation Table
  5. 0001783180-24-000035
  6. 0001783180-24-000027
    Summary Compensation Table
  7. 0001783180-23-000032
  8. 0001783180-23-000024
    Summary Compensation Table
  9. 0001783180-22-000048
    Employment Agreement
  10. 0001783180-22-000024
  11. 0001783180-21-000021
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Carrier Global executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/CARR (accessed 2026).
Short form: data: Velarion

The Carrier Global brief, $1,500

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
Both reports for $2,400.
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11 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Peers Carrier Global discloses

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

3M Co.Caterpillar Inc.Cummins Inc.Deere & CompanyEaton Corporation plcEmerson Electric Co.Honeywell International Inc.Illinois Tool Works Inc.Johnson Controls International plcOtis Worldwide CorporationParker Hannifin CorporationStanley Black & Decker, Inc.TE Connectivity Ltd.Trane Technologies plcWhirlpool Corporation

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

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}
}
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