Cadiz Executive Compensation (FY25)
CDZI · Executive and director compensation, fiscal 2024 to 2025
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Data as of September 21, 2026Latest filing (8-K): June 23, 2026
12 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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100 figures on this page: 89 cited to the filing that reported them, 11 calculated from figures it prints. See the citations
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 — Susan Kennedy: $2,280,114 → $1,057,625 (53.6% lower)
Frequently asked questions
Answers drawn from the data on this page.
Who is Cadiz's chief executive and what were they paid?
Susan Kennedy was paid $1,057,625 in total compensation as President and Chief Executive Officer for fiscal 2025. Compared with the $2,280,114 reported for fiscal 2024, Kennedy's total was 53.6% lower.
What was Cadiz's say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 98.2% of votes cast for or against in favor at the meeting held June 18, 2026.
Which companies are in Cadiz's peer group?
The disclosed peer group names Alico, Inc., Five Point Holdings, Forestar Group, Inc., Limoneira Company and Maui Land & Pineapple, among others.
Executive compensation
Every element reported for each named executive officer, by fiscal year.
Fiscal 2024
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Susan Kennedy President and Chief Executive Officer | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Stanley Speer Principal Financial Officer and Secretary | ◇ | — | ◇ | — | — | — | ◇ | ◇ |
Cathryn Rivera Chief Operating Officer | ◇ | — | ◇ | — | — | — | — | ◇ |
Fiscal 2025
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Stanley Speer Principal Financial Officer and Secretary | ◇ | — | ◇ | — | — | — | ◇ | ◇ |
Susan Kennedy President and Chief Executive Officer | ◇ | — | ◇ | — | — | — | ◇ | ◇ |
Cathryn Rivera Chief Operating Officer | ◇ | — | ◇ | — | — | — | — | ◇ |
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
| Officer | Award | Grant date | Threshold units | Target units | Units granted | Maximum units | Exercise price | Grant date fair value |
|---|---|---|---|---|---|---|---|---|
| Cathryn Rivera | RSU | — | — | — | ◇ | — | — | — |
| Stanley Speer | RSU | — | — | — | ◇ | — | — | — |
| Susan Kennedy | RSU | — | — | — | ◇ | — | — | — |
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
| Officer | Award | Unvested units | Market value of unvested units | Exercise price | Expires |
|---|---|---|---|---|---|
| Susan Kennedy | PSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — | |
| Stanley Speer | PSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — | |
| Cathryn Rivera | PSU | ◇ | ◇ | — | — |
| 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
| Director | Fees earned in cash | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|
Winston H. Hickox Lead independent director | ◇ | ◇ | — | — | — | — | ◇ |
Maria Echaveste | ◇ | ◇ | — | — | — | — | ◇ |
Kenneth T. Lombard | ◇ | ◇ | — | — | — | — | ◇ |
Richard Polanco | ◇ | ◇ | — | — | — | — | ◇ |
Stephen E. Courter | ◇ | ◇ | — | — | — | — | ◇ |
Susan P. Kennedy 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.
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 | ◇ |
Disclosed peer group
The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
- Alico, Inc. ALCO
- Five Point Holdings FPH
- Forestar Group, Inc. FOR
- Limoneira Company LMNR
- Maui Land & Pineapple MLP
- Pure Cycle Corp. PCYO
- Stratus Properties STRS
- Tejon Ranch Co. TRC
- The St. Joe Company JOE
Say-on-pay history
Shareholder support for the compensation program, by year.
| Year | Meeting | Support | Votes for | Votes against | Abstentions |
|---|---|---|---|---|---|
| 2025 | June 18, 2026 | = | ◇ | ◇ | ◇ |
| 2024 | June 12, 2025 | = | ◇ | ◇ | ◇ |
| 2023 | June 11, 2024 | = | ◇ | ◇ | ◇ |
| 2022 | June 21, 2023 | = | ◇ | ◇ | ◇ |
| 2021 | June 12, 2022 | = | ◇ | ◇ | ◇ |
| 2020 | June 17, 2021 | = | ◇ | ◇ | ◇ |
| 2019 | June 17, 2020 | = | ◇ | ◇ | ◇ |
| 2018 | July 10, 2019 | = | ◇ | ◇ | ◇ |
| 2017 | November 14, 2018 | = | ◇ | ◇ | ◇ |
| 2016 | June 7, 2017 | = | ◇ | ◇ | ◇ |
| 2015 | June 9, 2016 | = | ◇ | ◇ | ◇ |
What this page does not include
Everything above is a fact Cadiz disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Cadiz 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 — $1,500Written 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 — $1,500Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200Realizable 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 IntelligenceAdviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
Inquire about accessMultiple 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 IntelligenceCitations
Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
100 figures on this page: 89 cited to the filing that reported them, 11 calculated from figures it prints.
89 cited to the filing
11 calculated from the filing
Documents cited
- 0001437749-26-021420Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001437749-26-014053DIRECTOR COMPENSATION · Outstanding Equity Awards at Fiscal Year-End · Summary Compensation Table
- 0001437749-25-020303Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001437749-24-020284Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001437749-23-018521Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001437749-22-017212Item 5.07 Submission of Matters to a Vote of Security Holders.
- 0001437749-21-015400ITEM 5.07 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
- 0000727273-20-000027ITEM 5.07 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
- 0000727273-19-000014ITEM 5.07 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
- 0000727273-18-000034ITEM 5.07 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
- 0000727273-17-000014ITEM 5.07 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
- 0000727273-16-000062ITEM 5.07 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Cadiz executive compensation, FY2024–FY2025.” https://intel.velarion.ai/comp/CDZI (accessed 2026).
Short form: data: Velarion
The Cadiz 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.
12 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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The headline figures, each with its citation.
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Peers Cadiz discloses
The companies named in CDZI's own disclosed peer group.
Terms on this page
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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}
}