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Gaming & Lodging

McDonald's Executive Compensation (FY25)

MCD · Chicago, IL · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Christopher Kempczinski
Latest say-on-pay support
=
May 20, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of October 20, 2026Latest filing (8-K): May 22, 2026
14 filings cited on this page
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312 figures on this page: 302 cited to the filing that reported them, 10 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 — Christopher Kempczinski: $18,195,263 → $20,574,525 (13.1% higher)
Say-on-pay support: 93.8% → 94.7% (0.9 points higher)
CEO pay ratio: 1,014:1 → 1,082:1 (6.7% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is McDonald's' chief executive and what were they paid?
Christopher Kempczinski was paid $20,574,525 in total compensation as Chairman, President and CEO for fiscal 2025. Compared with the $18,195,263 reported for fiscal 2024, Kempczinski's total was 13.1% higher.
What was McDonald's' say-on-pay result?
The say-on-pay proposal drew 94.7% of votes cast including abstentions in favor at the meeting held May 20, 2026 for fiscal 2025.
What is McDonald's' chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 1,082:1, against median employee compensation of $19,020.

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
Christopher Kempczinski
Chairman President and CEO
◇—◇◇◇—◇◇
Ian Borden
Executive Vice President and Global CFO
◇—◇◇◇—◇◇
Kevin Ozan
Senior Executive Vice President, Strategic Initiatives and Former CFO
◇—◇◇◇—◇◇
Joseph Erlinger
President, McDonald’s USA
◇—◇◇◇—◇◇
Desiree Ralls-Morrison
Executive Vice President, Chief Legal Officer and Corporate Secretary
◇—◇◇◇—◇◇
Brian Rice
Executive Vice President, Global Chief Information Officer
◇◇◇◇◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Christopher Kempczinski
Chairman President and CEO
◇—◇◇◇—◇◇
Gillian McDonald
President, International Operated Markets
◇—◇◇◇—◇◇
Ian Borden
Executive Vice President and Global CFO
◇—◇◇◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Christopher Kempczinski
Chairman, President and Chief Executive Officer
◇—◇◇◇—◇◇
Ian Borden
Executive Vice President and Global Chief Financial Officer
◇—◇◇◇—◇◇
Joseph Erlinger
President, McDonald's USA
◇—◇◇◇—◇◇
Gillian McDonald
President, International Operated Markets
◇—◇◇◇—◇◇
Desiree Ralls-Morrison
Executive Vice President, Global Chief Legal Officer
◇—◇◇◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Christopher Kempczinski
Chairman, President and CEO
◇—◇◇◇—◇◇
Ian Borden
Executive Vice President and Global CFO
◇—◇◇◇—◇◇
Gillian McDonald
Executive Vice President, Global Chief Restaurant Experience Officer
◇—◇◇◇—◇◇
Joseph Erlinger
President, McDonald’s USA
◇—◇◇◇—◇◇
Manuel JM Steijaert
President, International Operated Markets
◇—◇◇◇—◇◇
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
Christopher KempczinskiOPTION◇——◇—◇◇
Christopher KempczinskiPSU◇—◇—◇—◇
Gillian McDonaldPSU◇—◇—◇—◇
Gillian McDonaldOPTION◇——◇—◇◇
Ian BordenPSU◇—◇—◇—◇
Ian BordenOPTION◇——◇—◇◇
Joseph ErlingerPSU◇—◇—◇—◇
Joseph ErlingerOPTION◇——◇—◇◇
Manuel JM SteijaertOPTION◇——◇—◇◇
Manuel JM SteijaertPSU◇—◇—◇—◇
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
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Christopher KempczinskiOption◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
PSU◇◇——
Joseph ErlingerOption◇—◇—
Option◇—◇—
Option◇—◇—
PSU◇◇——
PSU◇◇——
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
Ian BordenOption◇—◇—
Option◇—◇—
Option◇—◇—
PSU◇◇——
Option◇—◇—
Gillian McDonaldOption◇—◇—
PSU◇◇——
Option◇—◇—
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.
Christopher Kempczinski
Chairman, President and CEO · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Severance cash amount◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Ian Borden
Executive Vice President and Global CFO · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Severance cash amount◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Joseph Erlinger
President, McDonald’s USA · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Severance cash amount◇
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
Miles White
Lead independent director
◇◇———◇◇
Catherine Engelbert
◇◇———◇◇
Lloyd Dean
◇◇———◇◇
Paul Walsh
◇◇———◇◇
Amy Weaver
◇◇———◇◇
Jennifer Taubert
◇◇———◇◇
Kareem Daniel
◇◇———◇◇
Anthony Capuano
◇◇———◇◇
Margaret Georgiadis
◇◇———◇◇
Michael Hsu
◇◇———◇◇
John Mulligan
◇◇———◇◇
Christopher Kempczinski and James Farley Jr 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 Common Stock Equivalent Units.
Stock ownership guideline: Robust Director stock ownership requirements

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 20, 2026=◇◇◇
2024May 20, 2025=◇◇◇
2023May 22, 2024=◇◇◇
2022May 25, 2023=◇◇◇
2021May 26, 2022=◇◇◇
2020May 20, 2021=◇◇◇
2019May 21, 2020=◇◇◇
2018May 23, 2019=◇◇◇
2017May 24, 2018=◇◇◇
2016May 24, 2017=◇◇◇

Chief executive pay ratio

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

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Sample answer — “What is the CEO’s total compensation?”
- Christopher Kempczinski (Chairman, President and CEO), FY2025 total compensation $20,574,525 (base salary $1,550,000) [exec_comp, SEC accession 0001193125-26-145548, filed 2026-04-07]

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What this page does not include

Everything above is a fact McDonald's disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
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 — $499
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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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.
312 figures on this page: 302 cited to the filing that reported them, 10 calculated from figures it prints.
302 cited to the filing
10 calculated from the filing

Documents cited

  1. 0000063908-26-000055
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001193125-26-145548
    Compensation Tables · Director Compensation · Outstanding Equity Awards at Fiscal Year End · Pay Ratio
  3. 0000063908-25-000029
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001558370-25-004544
    2024 Summary Compensation Table · Compensation Discussion and Analysis
  5. 0000063908-24-000102
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001558370-24-004818
    2023 Summary Compensation Table
  7. 0000063908-23-000059
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001558370-23-005957
    Summary Compensation Table
  9. 0000063908-22-000028
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0000063908-21-000021
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0000063908-20-000048
    Item 5.07 Submission of Matters to a Vote of Security Holders
  12. 0000063908-19-000049
    Item 5.07 Submission of Matters to a Vote of Security Holders
  13. 0000063908-18-000033
  14. 0000063908-17-000029
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “McDonald's executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/MCD (accessed 2026).
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The McDonald's 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.
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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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Gaming & Lodging rankings

Chief executive pay — Gaming & LodgingCEO pay ratio — Gaming & LodgingSay-on-pay support — Gaming & Lodging

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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