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Principal Financial Group Executive Compensation (FY25)

PFG · Executive and director compensation, fiscal 2023 to 2025
Data as of September 7, 2026Latest filing (8-K): May 20, 2026
305 figures on this page: 299 cited to the filing that reported them, 6 calculated from figures it prints. See the citations
Deanna Strable-Soethout, Chair, President and Chief Executive Officer, received $13,827,887 in total compensation for fiscal 2025, and Strable-Soethout's total was 115.0% higher than the $6,432,610 reported for fiscal 2024. The disclosed chief executive pay ratio for fiscal 2025 is 155:1, against median employee compensation of $87,867.76. For fiscal 2025, shareholders backed the say-on-pay proposal with 96.9% of votes cast for or against in favor at the meeting held May 19, 2026. The disclosed peer group includes Affiliated Managers Group, Ameriprise Financial, Bank of New York Mellon, Equitable Holdings and Franklin Resources, among others.
Chief executive, fiscal 2025
◇
Deanna Strable-Soethout
Median of the other named officers
$5,883,743
5 officers, excluding the chief executive
Latest say-on-pay support
=
May 19, 2026
Chief executive pay ratio
◇
To the median employee
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 — Deanna Strable-Soethout: $6,432,610 → $13,827,887 (115.0% higher)
Say-on-pay support: 94.9% → 96.9% (2.0 points higher)
CEO pay ratio: 214:1 → 155:1 (27.6% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Principal Financial Group's chief executive and what were they paid?
Deanna Strable-Soethout, Chair, President and Chief Executive Officer, received $13,827,887 in total compensation for fiscal 2025. Strable-Soethout's total was 115.0% higher than the $6,432,610 reported for fiscal 2024.
What was Principal Financial Group's say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 96.9% of votes cast for or against in favor at the meeting held May 19, 2026.
Which companies are in Principal Financial Group's peer group?
The disclosed peer group includes Affiliated Managers Group, Ameriprise Financial, Bank of New York Mellon, Equitable Holdings and Franklin Resources, among others.
What is Principal Financial Group's chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 155:1, against median employee compensation of $87,867.76.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Daniel Houston
Chairman, President, and Chief Executive Officer
◇—◇—◇◇◇◇
Deanna Strable-Soethout
Executive Vice President and Chief Financial Officer
◇—◇—◇◇◇◇
Patrick Halter
President and Chief Executive Officer, Principal Asset Management
◇—◇—◇◇◇◇
Vivek Agrawal
Executive Vice President and Chief Growth Officer
◇—◇—◇◇◇◇
Amy Friedrich
President, Benefits and Protection
◇—◇—◇◇◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Daniel Houston
Executive Chairman
◇—◇—◇◇◇◇
Deanna Strable-Soethout
President and Chief Executive Officer
◇—◇—◇—◇◇
Kamal Bhatia
President and CEO, Principal Asset Management
◇—◇—◇—◇◇
Christopher Littlefield
President, Retirement and Income Solutions
◇—◇—◇◇◇◇
Amy Friedrich
President, Benefits and Protection
◇—◇—◇—◇◇
Joel Pitz
Interim Chief Financial Officer
Served on an interim basis
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Deanna Strable-Soethout
Chair, President and Chief Executive Officer
◇—◇—◇◇◇◇
Daniel Houston
Former Executive Chairman
Departed during or after this year
◇—◇—◇◇◇◇
Kamal Bhatia
President and CEO, Principal Asset Management
◇—◇—◇—◇◇
Christopher Littlefield
President, Retirement Income Solutions
◇◇◇—◇◇◇◇
Amy Friedrich
President, Benefits and Protection
◇—◇—◇◇◇◇
Joel Pitz
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
BhatiaRSU◇——◇——◇
BhatiaPSU◇◇◇—◇—◇
FriedrichPSU◇◇◇—◇—◇
FriedrichRSU◇——◇——◇
HoustonPSU◇◇◇—◇—◇
HoustonRSU◇——◇——◇
PitzRSU◇——◇——◇
PitzPSU◇◇◇—◇—◇
Strable-SoethoutPSU◇◇◇—◇—◇
Strable-SoethoutRSU◇——◇——◇
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
Joel PitzPSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
Daniel HoustonPSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
Christopher LittlefieldPSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Kamal BhatiaRSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
Amy FriedrichPSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
Deanna Strable-SoethoutPSU◇◇——
RSU◇◇——
RSU◇◇——
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
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Scott M. Mills
Lead independent director
◇◇————◇
Clare S. Richer
◇◇————◇
Diane C. Nordin
◇◇————◇
Jocelyn Carter-Miller
◇◇————◇
Roger C. Hochschild
◇◇————◇
Alfredo Rivera
◇◇————◇
H. Elizabeth Mitchell
◇◇————◇
Mary E. Maliz Beams
◇◇————◇
Blair C. Pickerell
◇◇————◇
Jonathan S. Auerbach
◇◇————◇
Claudio N. Muruzabal
◇◇————◇
Deanna D. Strable-Soethout and Daniel J. Houston 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
  • Affiliated Managers Group AMG
  • Ameriprise Financial AMP
  • Bank of New York Mellon BNY
  • Equitable Holdings EQH
  • Franklin Resources BEN
  • Invesco IVZ
  • Lincoln National LNC
  • MetLife MET
  • Prudential Financial PRU
  • State Street STT
  • T. Rowe Price TROW
  • Unum Group UNM
  • Voya Financial VOYA

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 19, 2026=◇◇◇
2024May 20, 2025=◇◇◇
2023May 21, 2024=◇◇◇
2022May 16, 2023=◇◇◇
2021May 17, 2022=◇◇◇
2020May 18, 2021=◇◇◇

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 Principal Financial Group disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Principal Financial Group 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.
305 figures on this page: 299 cited to the filing that reported them, 6 calculated from figures it prints.
299 cited to the filing
6 calculated from the filing

Documents cited

  1. 0001104659-26-064476
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001104659-26-039920
    CEO Pay Ratio · Compensation of non-employee directors · Fees earned by non-employee directors in 2025 · Grants of plan-based awards for fiscal year end December 31, 2025 · and 3 more sections
  3. 0001104659-25-051988
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001104659-25-032660
    Summary compensation table
  5. 0001104659-24-064682
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001104659-24-044674
    Summary Compensation Table
  7. 0001104659-23-063200
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001104659-22-062270
    Item 5.07 Submission of Matters to a Vote of Security Holders
  9. 0001104659-21-069241
    Item 5.07 Submission of Matters to a Vote of Security Holders
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This page is free to cite. Attribution we ask for:
Velarion, “Principal Financial Group executive compensation, FY2023–FY2025.” https://intel.velarion.ai/comp/PFG (accessed 2026).
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Insurance rankings

Chief executive pay — InsuranceCEO pay ratio — InsuranceSay-on-pay support — Insurance

Peers Principal Financial Group discloses

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

Affiliated Managers GroupAmeriprise FinancialBank of New York MellonEquitable HoldingsFranklin ResourcesInvescoLincoln NationalMetLifePrudential FinancialState StreetT. Rowe PriceUnum GroupVoya Financial

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
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}
}
For informational purposes only. Not investment, legal, or compensation advice.  The Pay Desk · Methodology · Terms · Privacy