Cummins Executive Compensation (FY25)

Name: Cummins (CMI) executive compensation
Creator: Velarion
License: https://intel.velarion.ai/terms

CMI · Columbus, IN · Executive and director compensation, fiscal 2022 to 2025

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Data as of September 7, 2026Latest filing (8-K): May 14, 2026

14 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

Cummins brief$1,500Get the executive brief

295 figures on this page: 285 cited to the filing that reported them, 10 calculated from figures it prints. See the citations

Chief executive, fiscal 2025

◇

Jennifer Rumsey

Latest say-on-pay support

May 12, 2026

Chief executive pay ratio

◇

To the median employee

Frequently asked questions

Answers drawn from the data on this page.

Who is Cummins' chief executive and what were they paid?

Jennifer Rumsey, Chair and Chief Executive Officer, received $19,905,532 in total compensation for fiscal 2025. Rumsey's total moved 8.9% lower from the $21,857,109 reported for fiscal 2024.

What was Cummins' say-on-pay result?

For fiscal 2025, shareholders backed the say-on-pay proposal with 95.3% of votes cast for or against in favor at the meeting held May 12, 2026.

Which companies are in Cummins' peer group?

Companies named in the disclosed peer group include AB Volvo, Borg Warner Incorporated, Caterpillar Incorporated, Daimler Truck AG and Dana Incorporated, among others.

What is Cummins' chief executive pay ratio?

The company reported a chief executive pay ratio of 312:1 for fiscal 2025, against median employee compensation of $63,834.

Executive compensation

Every element reported for each named executive officer, by fiscal year.

Fiscal 2022

Officer	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
N. Thomas Linebarger Former Executive Chairman	◇	—	◇	—	◇	◇	◇	◇
Jennifer Rumsey Chair and Chief Executive Officer	◇	—	◇	—	◇	—	◇	◇
Tony Satterthwaite Senior Vice President	◇	—	◇	—	◇	—	◇	◇
Sharon Barner Vice President – Chief Administrative Officer	◇	◇	◇	—	◇	—	◇	◇
Mark Smith Vice President and Chief Financial Officer	◇	—	◇	—	◇	—	◇	◇

Fiscal 2023

Officer	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
Jennifer Rumsey Chair and Chief Executive Officer	◇	—	◇	—	◇	◇	◇	◇
Mark Smith Vice President and Chief Financial Officer	◇	—	◇	—	◇	◇	◇	◇
Tony Satterthwaite Senior Vice President	◇	—	◇	—	◇	◇	◇	◇
N. Thomas Linebarger Former Executive Chairman Departed during or after this year	◇	—	—	—	◇	◇	◇	◇
Sharon Barner Vice President – Chief Administrative Officer	◇	—	◇	—	◇	◇	◇	◇
Marvin Boakye Chief Human Resources Officer	◇	◇	◇	—	◇	—	◇	◇

Fiscal 2024

Officer	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
Jennifer Rumsey Chair and Chief Executive Officer	◇	—	◇	—	◇	◇	◇	◇
Mark Smith Vice President and Chief Financial Officer	◇	—	◇	—	◇	◇	◇	◇
Srikanth Padmanabhan Executive Vice President and President Operations	◇	—	◇	—	◇	◇	◇	◇
Amy Davis Vice President and President - Accelera and Components	◇	—	◇	—	◇	◇	◇	◇
Jenny Bush Vice President and President - Power Systems	◇	—	◇	—	◇	◇	◇	◇

Fiscal 2025

Officer	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
Jennifer Rumsey Chair and Chief Executive Officer	◇	—	◇	—	◇	◇	◇	◇
Mark Smith Vice President and Chief Financial Officer	◇	—	◇	—	◇	◇	◇	◇
Amy Davis Vice President and President - Accelera and Components	◇	—	◇	—	◇	◇	◇	◇
Jenny Bush Vice President and President - Power Systems	◇	—	◇	—	◇	◇	◇	◇
Bonnie Fetch Executive Vice President and President - Operations	◇	—	◇	—	◇	◇	◇	◇

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
Amy Davis	PRSU	◇	—	—	◇	—	—	◇
Amy Davis	PSU	◇	—	◇	—	◇	—	◇
Bonnie Fetch	PRSU	◇	—	—	◇	—	—	◇
Bonnie Fetch	PSU	◇	—	◇	—	◇	—	◇
Jennifer Rumsey	PSU	◇	—	◇	—	◇	—	◇
Jenny Bush	PRSU	◇	—	—	◇	—	—	◇
Jenny Bush	PSU	◇	—	◇	—	◇	—	◇
Mark Smith	PSU	◇	—	◇	—	◇	—	◇

Fiscal 2023, 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

Officer	Award	Unvested units	Market value of unvested units	Exercise price	Expires
Bonnie Fetch	RSU	◇	◇	—	—
	PSU	◇	◇	—	—
	Option	◇	—	◇	—
Jenny Bush	Option	◇	—	◇	—
	PSU	◇	◇	—	—
	RSU	◇	◇	—	—
	Option	◇	—	◇	—
Mark Smith	RSU	◇	◇	—	—
	PSU	◇	◇	—	—
Amy Davis	Option	◇	—	◇	—
	Option	◇	—	◇	—
	Option	◇	—	◇	—
	RSU	◇	◇	—	—
	PSU	◇	◇	—	—
Jennifer Rumsey	Option	◇	—	◇	—
	Option	◇	—	◇	—
	PSU	◇	◇	—	—
	Option	◇	—	◇	—
	Option	◇	—	◇	—
	RSU	◇	◇	—	—
	Option	◇	—	◇	—

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.

Jennifer Rumsey

Chair and Chief Executive Officer · Terms as described in the company’s compensation discussion · citing a 2024 filing

Severance multiple	◇
Severance base	◇

Mark Smith

Vice President and Chief Financial Officer · Terms as described in the company’s compensation discussion · citing a 2024 filing

Severance multiple	◇
Severance base	◇
Change-in-control trigger	◇
Equity acceleration on change in control	◇
Benefits continuation	◇

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
William I. Miller	◇	◇	—	—	◇	—	◇
Robert J. Bernhard	◇	◇	—	—	◇	◇	◇
Karen H. Quintos	◇	◇	—	—	◇	◇	◇
Gary L. Belske	◇	◇	—	—	—	◇	◇
Thomas J. Lynch Lead independent director	◇	◇	—	—	—	—	◇
Kimberly A. Nelson	◇	◇	—	—	—	◇	◇
Carla A. Harris	◇	◇	—	—	◇	◇	◇
Daniel W. Fisher	◇	◇	—	—	◇	—	◇
John H. Stone	◇	◇	—	—	—	◇	◇
Bruno V. Di Leo Allen	◇	◇	—	—	—	—	◇
Matthew Tsien	◇	◇	—	—	—	◇	◇

Jennifer W. Rumsey 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	◇
Compensation committee chair	◇
Nominating and governance chair	◇

Equity is delivered as Restricted Stock.

Stock ownership guideline: 3x annual retainer

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.

Fiscal 2025

AB Volvo VOLV
Borg Warner Incorporated symbol not shown
Caterpillar Incorporated CAT
Daimler Truck AG symbol not shown
Dana Incorporated DAN
Deere & Company DE
Eaton Corporation ETN
Emerson Electric Co. EMR
Honeywell International Inc. HON
Illinois Tool Works ITW
Paccar Incorporated PCAR
Parker-Hannifin Corporation PH
Textron Incorporated TXT

Say-on-pay history

Shareholder support for the compensation program, by year.

Year	Meeting	Support	Votes for	Votes against	Abstentions
2025	May 12, 2026	=	◇	◇	◇
2024	May 13, 2025	=	◇	◇	◇
2023	May 14, 2024	=	◇	◇	◇
2022	May 9, 2023	=	◇	◇	◇
2021	May 10, 2022	=	◇	◇	◇
2020	May 11, 2021	=	◇	◇	◇
2019	May 12, 2020	=	◇	◇	◇
2018	May 14, 2019	=	◇	◇	◇
2017	May 8, 2018	=	◇	◇	◇
2016	May 9, 2017	=	◇	◇	◇

Chief executive pay ratio

As calculated and reported by the company.

Ratio

◇

Median employee compensation

◇

Chief executive total compensation

◇

What this page does not include

Everything above is a fact Cummins disclosed, and it is free. Everything below is our analysis of those facts, and it is not.

Peer benchmarking

Where Cummins 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.

Inquire 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.

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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.

295 figures on this page: 285 cited to the filing that reported them, 10 calculated from figures it prints.

285 cited to the filing

10 calculated from the filing

Documents cited

8-K, filed May 14, 2026
0000026172-26-000018
Item 5.07 Submission of Matters to a Vote of Security Holders
DEF 14A, filed April 2, 2026
0001104659-26-039158
2025 Summary Compensation Table and Supplemental Tables · DIRECTOR COMPENSATION · DIRECTOR COMPENSATION & · Grants of Plan-Based Awards · and 2 more sections
8-K, filed May 15, 2025
0000026172-25-000016
DEF 14A, filed March 31, 2025
0001104659-25-029877
2024 Summary Compensation Table and Supplemental Tables
8-K, filed May 15, 2024
0000026172-24-000026
DEF 14A, filed April 1, 2024
0001104659-24-041821
2023 Summary Compensation Table and Supplemental Tables · Compensation Discussion and Analysis
8-K, filed May 11, 2023
0000026172-23-000018
DEF 14A, filed March 27, 2023
0001104659-23-037109
Summary Compensation Table
8-K, filed May 11, 2022
0000026172-22-000023
Item 5.07 Submission of Matters to a Vote of Security Holders
8-K, filed May 12, 2021
0000026172-21-000030
Item 5.07 Submission of Matters to a Vote of Security Holders
8-K, filed May 14, 2020
0000026172-20-000022
8-K, filed May 15, 2019
0000897069-19-000264
8-K, filed May 9, 2018
0000897069-18-000338
8-K, filed May 9, 2017
0000897069-17-000288

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Velarion, “Cummins executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/CMI (accessed 2026).

Short form: data: Velarion

The paid brief for Cummins

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.

$1,500 for the Executive Compensation Report. Both reports for $2,400.

Get the executive brief Get the board briefNo account needed.

14 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 Cummins discloses

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

Caterpillar Incorporated Dana Incorporated Deere & Company Eaton Corporation Emerson Electric Co.Honeywell International Inc.Illinois Tool Works Paccar Incorporated Parker-Hannifin Corporation Textron Incorporated

Terms on this page

Say-on-Pay Vote CEO Pay Ratio Median Employee Compensation All 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}
}

More on Cummins

Frequently asked questions

Executive compensation

Equity awards granted

Outstanding awards

Severance and change in control

Director compensation

Director fee schedule

Disclosed peer group

Say-on-pay history

Chief executive pay ratio

What this page does not include

Citations

Documents cited

The paid brief for Cummins

Peers Cummins discloses

Terms on this page