Northwest Natural Holding Executive Compensation (FY25)
NWN · Executive and director compensation, fiscal 2025 only
The paid brief on Northwest Natural Holding
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.
Data as of September 21, 2026Latest filing (8-K): June 1, 2026
9 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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198 figures on this page: 190 cited to the filing that reported them, 8 calculated from figures it prints. See the citations
More on Northwest Natural Holding
Five data products on this company. Each one is requested through the developer setup page.
- Peer Disclosure Audit$5The comparison companies this board named, each one tied to the filing that lists it.How to get Peer Disclosure Audit
- Governance Provisions PullfreeThe governance provisions as the proxy states them: board leadership, committee membership, and shareholder rights.How to get Governance Provisions Pull
- Say-on-Pay Risk Signal$9A risk band for the next say-on-pay vote, with the support history and the peer comparison behind it.How to get Say-on-Pay Risk Signal
- NEO Comp Report$24Every named executive officer’s pay by element and year, with the citation behind each figure.How to get NEO Comp Report
- Board Comp Report$24What each non-employee director was paid, the standing fee schedule, and the equity each one holds at year end.How to get Board Comp Report
Frequently asked questions
Answers drawn from the data on this page.
What was Northwest Natural Holding's say-on-pay result?
Shareholders supported the say-on-pay proposal with 97.1% of votes cast for or against in favor at the meeting held May 28, 2026 for fiscal 2025.
Which companies are in Northwest Natural Holding's peer group?
Companies named in the disclosed peer group include Atmos Energy Corporation, Avista Corporation, Black Hills Corporation, MGE Energy, Inc. and New Jersey Resources Corporation, among others.
What is Northwest Natural Holding's chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 28:1, against median employee compensation of $134,311.
Executive compensation
Every element reported for each named executive officer, by fiscal year.
Fiscal 2025
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Justin Palfreyman President and Chief Executive Officer, NW Holdings; Chief Executive Officer, NW Natural | ◇ | ◇ | ◇ | — | ◇ | ◇ | ◇ | ◇ |
Kimberly Rush President, NW Natural | ◇ | ◇ | ◇ | — | ◇ | ◇ | ◇ | ◇ |
Raymond Kaszuba Senior Vice President and Chief Financial Officer | ◇ | ◇ | ◇ | — | ◇ | — | ◇ | ◇ |
MardiLyn Saathoff General Counsel, Chief Compliance Officer, and SVP Regulation, NW Holdings | ◇ | ◇ | ◇ | — | ◇ | ◇ | ◇ | ◇ |
Megan Berge Deputy General Counsel and Corporate Secretary, NW Holdings | ◇ | ◇ | ◇ | — | ◇ | — | ◇ | ◇ |
David Anderson Former Chief Executive Officer Departed during or after this year | ◇ | ◇ | — | — | ◇ | ◇ | ◇ | ◇ |
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 |
|---|---|---|---|---|---|---|---|---|
| Megan H. Berge | 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 |
|---|---|---|---|---|---|
| Justin Palfreyman | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| Kimberly Rush | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| MardiLyn Saathoff | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| Raymond Kaszuba | RSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| David Anderson | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| Megan Berge | PSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| 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 |
|---|---|---|---|---|---|---|---|
Malia H. Wasson | ◇ | — | — | — | ◇ | — | ◇ |
Jane L. Peverett | ◇ | — | — | — | — | — | ◇ |
Nathan I. Partain | ◇ | — | — | — | — | — | ◇ |
Charles A. Wilhoite | ◇ | — | — | — | — | — | ◇ |
Sandra McDonough | ◇ | — | — | — | ◇ | — | ◇ |
Monica Enand | ◇ | — | — | — | ◇ | — | ◇ |
Mary E. Ludford | ◇ | — | — | — | ◇ | — | ◇ |
Karen Lee | ◇ | — | — | — | ◇ | — | ◇ |
David H. Anderson | ◇ | — | — | — | ◇ | — | ◇ |
Kenneth Thrasher | ◇ | — | — | — | — | — | ◇ |
Peter J. Bragdon | ◇ | — | — | — | ◇ | — | ◇ |
Hon. Dave McCurdy | ◇ | — | — | — | ◇ | — | ◇ |
Timothy P. Boyle | ◇ | — | — | — | — | — | ◇ |
Justin B. Palfreyman 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 | ◇ |
| Total board retainer | ◇ |
| Board chair premium | ◇ |
| Audit committee chair | ◇ |
| Audit committee member | ◇ |
| Compensation committee chair | ◇ |
| Compensation committee member | ◇ |
| Nominating and governance chair | ◇ |
| Nominating and governance member | ◇ |
| Board meeting fee | ◇ |
| Committee meeting fee | ◇ |
Disclosed peer group
The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
- Atmos Energy Corporation ATO
- Avista Corporation AVA
- Black Hills Corporation BKH
- MGE Energy, Inc. MGEE
- New Jersey Resources Corporation NJR
- NiSource Inc. NI
- Northwestern Corporation NWE
- ONE Gas, Inc. OGS
- Southwest Gas Holdings, Inc. SWX
- Spire Inc. SR
- Unitil Corporation UTL
Say-on-pay history
Shareholder support for the compensation program, by year.
| Year | Meeting | Support | Votes for | Votes against | Abstentions |
|---|---|---|---|---|---|
| 2025 | May 28, 2026 | = | ◇ | ◇ | ◇ |
| 2024 | May 22, 2025 | = | ◇ | ◇ | ◇ |
| 2023 | May 23, 2024 | = | ◇ | ◇ | ◇ |
| 2022 | May 25, 2023 | = | ◇ | ◇ | ◇ |
| 2021 | May 23, 2022 | = | ◇ | ◇ | ◇ |
| 2020 | May 27, 2021 | = | ◇ | ◇ | ◇ |
| 2019 | May 28, 2020 | = | ◇ | ◇ | ◇ |
| 2018 | May 23, 2019 | = | ◇ | ◇ | ◇ |
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 Northwest Natural Holding disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Northwest Natural Holding 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.
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Velarion IntelligenceCitations
Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
198 figures on this page: 190 cited to the filing that reported them, 8 calculated from figures it prints.
190 cited to the filing
8 calculated from the filing
Documents cited
- 0001733998-26-000111Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001193125-26-161075CEO Pay Ratio · Grants of Plan-Based Awards During 2025 · Non-Employee Director Compensation in 2025 · Outstanding Equity Awards at December 31, 2025 · and 1 more section
- 0001733998-25-000108Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001733998-24-000085Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001733998-23-000034Item 5.07 Submission of Matters to a Vote of Security Holders Annual Meeting Sh
- 0001733998-22-000017
- 0001733998-21-000013
- 0001733998-20-000031
- 0001733998-19-000015
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Northwest Natural Holding executive compensation, FY2025.” https://intel.velarion.ai/comp/NWN (accessed 2026).
Short form: data: Velarion
The paid brief for Northwest Natural Holding
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.
9 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 Northwest Natural Holding discloses
The companies named in NWN'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}
}