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Eaton Corp Executive Compensation (FY25)

ETN · Executive and director compensation, fiscal 2022 to 2025

The paid brief on Eaton Corp

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $1,200 for the board report; $2,400 for both.
Data as of September 12, 2026Latest filing (8-K): April 23, 2026
14 filings cited on this page
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
Eaton Corp brief$1,500Get the executive brief
412 figures on this page: 402 cited to the filing that reported them, 10 calculated from figures it prints. See the citations
Chief executive, fiscal 2025
◇
Paulo Ruiz
Median of the other named officers
$5,047,724
6 officers, excluding the chief executive
Latest say-on-pay support
=
April 22, 2026
Chief executive pay ratio
◇
To the median employee

More on Eaton Corp

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 — Paulo Ruiz: $5,031,963 → $7,923,677 (57.5% higher)
Say-on-pay support: 93.2% → 93.0% (0.2 points lower)
CEO pay ratio: 563:1 → 128:1 (77.3% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Eaton Corp's chief executive and what were they paid?
Paulo Ruiz, Chief Executive Officer of Eaton Corporation, received $7,923,677 in total compensation for fiscal 2025. Ruiz's total was 57.5% higher than the $5,031,963 reported for fiscal 2024.
What was Eaton Corp's say-on-pay result?
The say-on-pay proposal drew 93.0% of votes cast for or against in favor at the meeting held April 22, 2026 for fiscal 2025.
Which companies are in Eaton Corp's peer group?
The disclosed peer group names 3M Company, ABB Ltd, Aptiv PLC, Carrier Global Corporation and Caterpillar Inc., among others.
What is Eaton Corp's chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 128:1, against median employee compensation of $61,945.

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
Craig Arnold
Chairman and Chief Executive Officer
◇◇◇◇◇—◇◇
Thomas Okray
Executive Vice President and Chief Financial Officer
◇◇◇◇◇—◇◇
Heath Monesmith
President & COO - Electrical Sector
◇◇◇◇◇—◇◇
Paulo Ruiz
President & COO – Industrial Sector
◇◇◇◇◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Craig Arnold
Former Chairman of the Company and Chief Executive Officer of Eaton Corporation
◇—◇◇◇◇◇◇
Heath Monesmith
President and Chief Operating Officer Electrical Sector of Eaton Corporation
◇—◇◇◇◇◇◇
Paulo Ruiz
Chief Executive Officer of Eaton Corporation
◇—◇◇◇◇◇◇
E Marshall
Former Executive Vice President and Chief Human Resources Officer
Departed during or after this year
◇—◇◇◇◇◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Craig Arnold
Former Chairman of the Company and Chief Executive Officer of Eaton Corporation
◇—◇◇◇◇◇◇
Olivier Leonetti
Executive Vice President and Chief Financial Officer of Eaton Corporation
◇◇◇◇◇—◇◇
Heath Monesmith
President and Chief Operating Officer Electrical Sector of Eaton Corporation
◇—◇◇◇◇◇◇
Paulo Ruiz
Chief Executive Officer of Eaton Corporation
◇—◇◇◇◇◇◇
Ernest Marshall
Former Executive Vice President and Chief Human Resources Officer of Eaton Corporation
◇—◇◇◇◇◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Craig Arnold
Former Chairman of the Company and Chief Executive Officer of Eaton Corporation
Departed during or after this year
◇—◇◇◇◇◇◇
Paulo Ruiz
Chief Executive Officer of Eaton Corporation
◇—◇◇◇◇◇◇
Olivier Leonetti
Executive Vice President and Chief Financial Officer of Eaton Corporation
◇—◇◇◇—◇◇
Ernest Marshall
Former Executive Vice President and Chief Human Resources Officer of Eaton Corporation
Departed during or after this year
◇—◇◇◇◇◇◇
Kaled Awada
Executive Vice President and Chief Human Resources Officer of Eaton Corporation
◇◇◇—◇◇◇◇
Heath Monesmith
President and Chief Operating Officer Electrical Sector of Eaton Corporation
◇—◇◇◇◇◇◇
Lucy Clark Dougherty
Executive Vice President and Chief Legal Officer of Eaton Corporation
◇◇◇—◇—◇◇
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
Craig ArnoldOPTION◇——◇—◇◇
Craig ArnoldRSU◇——◇——◇
Craig ArnoldPSU◇—————◇
Ernest MarshallOPTION◇——◇—◇◇
Ernest MarshallRSU◇——◇——◇
Ernest MarshallPSU◇—————◇
Heath MonesmithPSU◇—————◇
Heath MonesmithOPTION◇——◇—◇◇
Heath MonesmithRSU◇——◇——◇
Kaled AwadaRSU◇——◇——◇
Lucy Clark DoughertyEquity◇——◇——◇
Lucy Clark DoughertyPSU◇—————◇
Lucy Clark DoughertyPSU◇——◇——◇
Olivier LeonettiPSU◇—————◇
Olivier LeonettiOPTION◇——◇—◇◇
Olivier LeonettiRSU◇——◇——◇
Paulo RuizPSU◇—————◇
Paulo RuizRSU◇——◇——◇
Paulo RuizOPTION◇——◇—◇◇
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
Heath MonesmithRSU◇◇——
PSU◇◇——
Option◇—◇2/22/2023
Option◇—◇2/26/2025
Option◇—◇2/28/2024
PSU◇◇——
RSU◇◇——
RSU◇◇——
Olivier LeonettiRSU◇◇——
Option◇—◇3/1/2024
Option◇—◇2/26/2025
Option◇—◇2/28/2024
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Paulo RuizRSU◇◇——
PSU◇◇——
Option◇—◇2/26/2025
Option◇—◇2/28/2024
RSU◇◇——
RSU◇◇——
PSU◇◇——
Option◇—◇2/22/2023
Craig ArnoldRSU◇◇——
PSU◇◇——
RSU◇◇——
Option◇—◇2/23/2023
RSU◇◇——
PSU◇◇——
Option◇—◇2/26/2025
Option◇—◇2/28/2024
Ernest MarshallRSU◇◇——
Option◇—◇2/28/2024
RSU◇◇——
PSU◇◇——
Option◇—◇2/22/2023
Option◇—◇2/26/2025
RSU◇◇——
PSU◇◇——
Lucy Clark DoughertyRSU◇◇——
PSU◇◇——
RSU◇◇——
Kaled AwadaRSU◇◇——
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.
Ernest Marshall
Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance multiple◇
Severance cash amount◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Excise tax treatment◇
Non-compete period◇
Heath Monesmith
President and Chief Operating Officer Electrical Sector of Eaton Corporation · Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance multiple◇
Severance cash amount◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Excise tax treatment◇
Non-compete period◇
Kaled Awada
Executive Vice President and Chief Human Resources Officer of Eaton Corporation · Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance multiple◇
Severance cash amount◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Excise tax treatment◇
Non-compete period◇
Lucy Clark Dougherty
Executive Vice President and Chief Legal Officer of Eaton Corporation · Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance multiple◇
Severance cash amount◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Excise tax treatment◇
Non-compete period◇
Olivier Leonetti
Executive Vice President and Chief Financial Officer of Eaton Corporation · Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance multiple◇
Severance cash amount◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Excise tax treatment◇
Non-compete period◇
Paulo Ruiz
Chief Executive Officer of Eaton Corporation · Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance multiple◇
Severance cash amount◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Excise tax treatment◇
Non-compete period◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Gregory Page
Board chair
◇◇———◇◇
Gerald Smith
◇◇———◇◇
Dorothy Thompson
◇◇———◇◇
Silvio Napoli
◇◇———◇◇
Lori Ryerkerk
◇◇———◇◇
Darryl Wilson
◇◇———◇◇
Andre Schulten
◇◇———◇◇
Robert Pragada
◇◇———◇◇
Sandra Pianalto
◇◇———◇◇
Karenann Terrell
◇◇———◇◇
Gerald Johnson
◇◇———◇◇
Paulo Ruiz 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 equity retainer◇
Total board retainer◇
Equity is delivered as restricted stock units.
Stock ownership guideline: 5x 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
  • 3M Company MMM
  • ABB Ltd ABBN
  • Aptiv PLC APTV
  • Carrier Global Corporation CARR
  • Caterpillar Inc. CAT
  • Cummins Inc. CMI
  • Deere & Company DE
  • Dover Corporation DOV
  • Emerson Electric Co. EMR
  • Honeywell International Inc. HON
  • Illinois Tool Works Inc. ITW
  • International Paper Company IP
  • Johnson Controls International plc JCI
  • Lear Corporation LEA
  • Northrop Grumman Corporation NOC
  • Otis Worldwide Corporation OTIS
  • PACCAR Inc. PCAR
  • Parker-Hannifin Corporation PH
  • Rockwell Automation, Inc. ROK
  • Stanley Black & Decker, Inc. SWK
  • TE Connectivity plc. TEL
  • Trane Technologies plc TT
  • Whirlpool Corporation WHR

Say-on-pay history

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

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 Eaton Corp disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Eaton Corp 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.
412 figures on this page: 402 cited to the filing that reported them, 10 calculated from figures it prints.
402 cited to the filing
10 calculated from the filing

Documents cited

  1. 0001140361-26-016399
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001193125-26-105117
    2025 Director Compensation · CEO Pay Ratio · Compensation Discussion and Analysis · Grants of Plan-Based Awards · and 2 more sections
  3. 0001140361-25-015476
  4. 0001308179-25-000129
    2024 SUMMARY COMPENSATION TABLE
  5. 0001140361-24-022362
  6. 0001308179-24-000169
    2023 SUMMARY COMPENSATION TABLE
  7. 0001140361-23-021753
  8. 0001308179-23-000228
    Summary Compensation Table
  9. 0001140361-22-016454
  10. 0001551182-21-000109
  11. 0001551182-20-000121
  12. 0001551182-19-000120
  13. 0001551182-18-000167
  14. 0001551182-17-000127
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Eaton Corp executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/ETN (accessed 2026).
Short form: data: Velarion

The paid brief for Eaton Corp

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14 filings cited on this page
Method: intel.velarion.ai/methodology
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Peers Eaton Corp discloses

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

3M CompanyAptiv PLCCarrier Global CorporationCaterpillar Inc.Cummins Inc.Deere & CompanyDover CorporationEmerson Electric Co.Honeywell International Inc.Illinois Tool Works Inc.International Paper CompanyJohnson Controls International plcLear CorporationNorthrop Grumman CorporationOtis Worldwide CorporationPACCAR Inc.Parker-Hannifin CorporationRockwell Automation, Inc.Stanley Black & Decker, Inc.TE Connectivity plc.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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