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Industrials & Aerospace

Deere & Co Executive Compensation (FY25)

DE · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
John May
Latest say-on-pay support
=
February 25, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of October 26, 2026Latest filing (8-K): February 27, 2026
15 filings cited on this page
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376 figures on this page: 365 cited to the filing that reported them, 11 calculated from figures it prints. See the citations

More on Deere & Co

Five data products on this company. Each one is requested through the developer setup page.
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 — John May: $27,801,672 → $27,925,424 (0.4% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Deere & Co's chief executive and what were they paid?
John May was paid $27,925,424 in total compensation as Chairman, Chief Executive Officer, and President for fiscal 2025. May's total moved 0.4% higher from the $27,801,672 reported for fiscal 2024.
What was Deere & Co's say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 91.9% of votes cast including abstentions in favor at the meeting held February 25, 2026.
Which companies are in Deere & Co's peer group?
The disclosed peer group names 3M Company, Archer-Daniels-Midland Company, Carrier Global Corporation, Caterpillar Inc. and Cisco Systems, Inc., among others.
What is Deere & Co's chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 190:1, against median employee compensation of $147,019.

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
John May
Chairman, Chief Executive Officer, and President
◇—◇◇◇—◇◇
Cory Reed
President, Worldwide Agriculture & Turf Division, Production & Precision Ag, Sales and Marketing Regions of the Americas and Australia
◇—◇◇◇—◇◇
Joshua Jepsen
Senior Vice President and Chief Financial Officer
◇◇◇—◇——◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
John May
Chairman, Chief Executive Officer, and President
◇—◇◇◇◇◇◇
Justin Rose
President, Lifecycle Solutions, Supply Management, and Customer Success
◇◇◇◇◇◇◇◇
Cory Reed
President, Worldwide Agriculture & Turf Division, Production & Precision Ag, Sales and Marketing Regions of the Americas and Australia
◇—◇◇◇◇◇◇
Ryan Campbell
President, Worldwide Construction & Forestry and Power Systems
◇—◇◇◇◇◇◇
Rajesh Kalathur
President, John Deere Financial, and Chief Information Officer
◇—◇◇◇◇◇◇
Joshua Jepsen
Senior Vice President and Chief Financial Officer
◇—◇◇◇◇◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
John May
Chairman, Chief Executive Officer, and President
◇—◇◇◇◇◇◇
Rajesh Kalathur
President, John Deere Financial, and Chief Information Officer
◇—◇◇◇◇◇◇
Cory Reed
President, Worldwide Agriculture & Turf Division, Production & Precision Ag, Sales and Marketing Regions of the Americas and Australia
◇—◇◇◇◇◇◇
Ryan Campbell
President, Worldwide Construction & Forestry and Power Systems
◇—◇◇◇◇◇◇
Joshua Jepsen
Senior Vice President and Chief Financial Officer
◇—◇◇◇◇◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
John May
Chairman, Chief Executive Officer, and President
◇—◇◇◇◇◇◇
Ryan Campbell
President, Worldwide Construction & Forestry and Power Systems
◇—◇◇◇◇◇◇
Rajesh Kalathur
President, John Deere Financial, and Chief Information Officer
◇—◇◇◇◇◇◇
Deanna Kovar
President, Worldwide Agriculture & Turf Division, Production & Precision Ag, Sales and Marketing
◇—◇◇◇◇◇◇
Joshua Jepsen
Senior Vice President and Chief Financial 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
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Deanna M. KovarRSU◇——◇——◇
Deanna M. KovarPSU◇◇◇—◇—◇
Deanna M. KovarOPTION◇——◇—◇◇
John C. MayRSU◇——◇——◇
John C. MayPSU◇◇◇—◇—◇
John C. MayOPTION◇——◇—◇◇
Joshua A. JepsenRSU◇——◇——◇
Joshua A. JepsenOPTION◇——◇—◇◇
Joshua A. JepsenPSU◇◇◇—◇—◇
Rajesh KalathurRSU◇——◇——◇
Rajesh KalathurPSU◇◇◇—◇—◇
Rajesh KalathurOPTION◇——◇—◇◇
Ryan D. CampbellOPTION◇——◇—◇◇
Ryan D. CampbellRSU◇——◇——◇
Ryan D. CampbellPSU◇◇◇—◇—◇
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
John MayRSU◇◇——
Option◇—◇12/11/2034
Option◇—◇12/13/2033
PSU◇◇——
PSU◇◇——
PSU◇◇——
Option◇—◇12/14/2032
RSU◇◇——
RSU◇◇——
RSU◇◇——
Ryan CampbellRSU◇◇——
Option◇—◇12/11/2034
Option◇—◇12/13/2033
PSU◇◇——
PSU◇◇——
PSU◇◇——
Option◇—◇12/14/2032
RSU◇◇——
RSU◇◇——
RSU◇◇——
Joshua JepsenRSU◇◇——
Option◇—◇12/11/2034
Option◇—◇12/13/2033
PSU◇◇——
PSU◇◇——
PSU◇◇——
Option◇—◇12/14/2032
RSU◇◇——
RSU◇◇——
RSU◇◇——
Rajesh KalathurRSU◇◇——
Option◇—◇12/11/2034
Option◇—◇12/13/2033
PSU◇◇——
PSU◇◇——
PSU◇◇——
Option◇—◇12/14/2032
RSU◇◇——
RSU◇◇——
RSU◇◇——
Deanna KovarRSU◇◇——
Option◇—◇12/11/2034
Option◇—◇12/13/2033
PSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇12/14/2032
RSU◇◇——
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
Leanne G. Caret
◇◇————◇
Tamra A. Erwin
◇◇————◇
R. Preston Feight
◇◇————◇
L. Neil Hunn
◇◇————◇
Dmitri L. Stockton
Lead independent director
◇◇————◇
Gregory R. Page
◇◇————◇
Alan C. Heuberger
◇◇————◇
Michael O. Johanns
◇◇————◇
Sheila G. Talton
◇◇————◇
Sherry M. Smith
◇◇————◇
Clayton M. Jones
◇—————◇
John C. May 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◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • 3M Company MMM
  • Archer-Daniels-Midland Company ADM
  • Carrier Global Corporation CARR
  • Caterpillar Inc. CAT
  • Cisco Systems, Inc. CSCO
  • Cummins Inc. CMI
  • Eaton Corp. plc ETN
  • General Dynamics Corporation GD
  • General Electric Company GE
  • Honeywell International Inc. HON
  • Intel Corporation INTC
  • Johnson Controls International plc JCI
  • Lockheed Martin Corporation LMT
  • PACCAR Inc PCAR
  • RTX Corporation RTX
  • The Boeing Company BA

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025February 25, 2026=◇◇◇
2024February 26, 2025=◇◇◇
2023February 28, 2024=◇◇◇
2022February 22, 2023=◇◇◇
2021February 23, 2022=◇◇◇
2020February 24, 2021=◇◇◇
2019February 26, 2020=◇◇◇
2018February 27, 2019=◇◇◇
2017February 28, 2018=◇◇◇
2016February 22, 2017=◇◇◇
2015February 24, 2016=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

Ask our research desk — $99, 24h, every figure cited to its filing.

Sample answer — “What is the CEO’s total compensation?”
- John May (Chairman, Chief Executive Officer, and President), FY2025 total compensation $27,925,424 (base salary $1,694,507) [exec_comp, SEC accession 0001104659-26-003618, filed 2026-01-14]

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What this page does not include

Everything above is a fact Deere & Co disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Deere & Co 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.
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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 — $500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
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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.
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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.
376 figures on this page: 365 cited to the filing that reported them, 11 calculated from figures it prints.
365 cited to the filing
11 calculated from the filing

Documents cited

  1. 0001104659-26-021272
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001104659-26-003618
    CEO Pay Ratio · Compensation of Directors · Fiscal 2025 Summary Compensation Table · OUTSTANDING EQUITY AWARDS AT FISCAL 2025 YEAR-END
  3. 0001558370-25-001881
  4. 0001558370-25-000112
    Executive Compensation Tables
  5. 0001558370-24-002246
  6. 0001558370-24-000170
    Fiscal 2023 Summary Compensation Table
  7. 0001558370-23-002172
  8. 0001558370-23-000200
    Summary Compensation Table
  9. 0001558370-22-002140
  10. 0001558370-21-001965
  11. 0001104659-20-027293
    Item 5.07 Submission of Matters to a Vote of Security Holders
  12. 0001104659-19-011840
  13. 0001104659-18-014997
  14. 0001104659-17-011962
  15. 0001104659-16-100349
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Deere & Co executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/DE (accessed 2026).
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Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
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15 filings cited on this page
Method: intel.velarion.ai/methodology
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Industrials & Aerospace rankings

Chief executive pay — Industrials & AerospaceCEO pay ratio — Industrials & AerospaceSay-on-pay support — Industrials & Aerospace

Peers Deere & Co discloses

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

3M CompanyArcher-Daniels-Midland CompanyCarrier Global CorporationCaterpillar Inc.Cisco Systems, Inc.Cummins Inc.Eaton Corp. plcGeneral Dynamics CorporationGeneral Electric CompanyHoneywell International Inc.Intel CorporationJohnson Controls International plcLockheed Martin CorporationPACCAR IncRTX CorporationThe Boeing Company

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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