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Prog Holdings Executive Compensation (FY25)

PRG · Executive and director compensation, fiscal 2022 to 2025

The paid brief on Prog Holdings

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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Data as of September 8, 2026Latest filing (8-K): May 7, 2026
8 filings cited on this page
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Prog Holdings brief$1,500Get the executive brief
205 figures on this page: 199 cited to the filing that reported them, 6 calculated from figures it prints. See the citations
Chief executive, fiscal 2025
◇
Steven Michaels
Latest say-on-pay support
=
May 6, 2026

More on Prog Holdings

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 — Steven Michaels: $13,328,364 → $9,880,430 (25.9% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Prog Holdings' chief executive and what were they paid?
Total compensation for Steven Michaels, Chief Executive Officer, came to $9,880,430 in fiscal 2025. Michaels' total was 25.9% lower than the $13,328,364 reported for fiscal 2024.
What was Prog Holdings' say-on-pay result?
The say-on-pay proposal drew 92.0% of votes cast for or against in favor at the meeting held May 6, 2026 for fiscal 2025.
Which companies are in Prog Holdings' peer group?
The disclosed peer group names Ally Financial Inc., Bread Financial Holdings, Inc., Credit Acceptance Corporation, Discover Financial Services and Encore Capital Group, Inc., among others.

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
Steven Michaels
Chief Executive Officer
◇—◇◇◇—◇◇
Brian Garner
Chief Financial Officer
◇—◇◇◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Steven Michaels
Chief Executive Officer
◇—◇◇◇—◇◇
Brian Garner
Chief Financial Officer
◇—◇◇◇—◇◇
Todd King
Chief Legal and Compliance Officer
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Steven Michaels
Chief Executive Officer
◇—◇—◇—◇◇
Brian Garner
Chief Financial Officer
◇—◇—◇—◇◇
Todd King
Chief Legal and Compliance Officer
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Steven Michaels
Chief Executive Officer
◇—◇—◇—◇◇
Brian Garner
Chief Financial Officer
◇—◇—◇—◇◇
Todd King
Chief Legal and Compliance 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
Brian J. GarnerPSU◇◇◇—◇—◇
Brian J. GarnerPSU◇◇◇—◇—◇
Brian J. GarnerPSU◇—— withheld—◇—◇
Steven A. MichaelsPSU◇◇◇—◇—◇
Steven A. MichaelsPSU◇—— withheld—◇—◇
Steven A. MichaelsPSU◇◇◇—◇—◇
Todd KingPSU◇—— withheld—◇—◇
Todd KingPSU◇◇◇—◇—◇
Todd KingPSU◇◇◇—◇—◇
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
Brian GarnerOption◇—◇—
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Todd KingRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Steven MichaelsRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇—
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
Ray M. Robinson
Board chair
◇◇————◇
Cynthia N. Day
◇◇————◇
Douglas C. Curling
◇◇————◇
James P. Smith
◇◇————◇
Caroline S. Sheu
◇◇————◇
Ray M. Martinez
◇◇————◇
Daniela Mielke
◇◇————◇
Robert K. Julian
◇◇————◇
Kathy T. Betty
◇—————◇
Steven A. Michaels and Curtis L. Doman 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◇
Board equity retainer◇
Total board retainer◇
Board chair premium◇
Audit committee chair◇
Compensation committee chair◇
Nominating and governance chair◇
Equity is delivered as restricted stock units.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Ally Financial Inc. ALLY
  • Bread Financial Holdings, Inc. BFH
  • Credit Acceptance Corporation CACC
  • Discover Financial Services DFS
  • Encore Capital Group, Inc. ECPG
  • Enova International, Inc. ENVA
  • Euronet Worldwide, Inc. EEFT
  • FirstCash Holdings, Inc. FCFS
  • Genpact Limited G
  • Green Dot Corporation GDOT
  • Jack Henry & Associates, Inc. JKHY
  • LendingTree, Inc. TREE
  • Navient Corporation NAVI
  • OneMain Holdings, Inc. OMF
  • PRA Group, Inc. PRAA
  • Shift4 Payments, Inc. FOUR
  • SLM Corporation SLM
  • Synchrony Financial SYF
  • WEX Inc. WEX

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 6, 2026=◇◇◇
2024May 7, 2025=◇◇◇
2023May 15, 2024=◇◇◇
2022May 10, 2023=◇◇◇
2021May 24, 2022=◇◇◇
2020June 22, 2021=◇◇◇
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What this page does not include

Everything above is a fact Prog Holdings disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Prog Holdings 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.
205 figures on this page: 199 cited to the filing that reported them, 6 calculated from figures it prints.
199 cited to the filing
6 calculated from the filing

Documents cited

  1. 0001808834-26-000071
  2. 0001808834-26-000053
    Grants of Plan-Based Awards in Fiscal Year 202 · Non-Management Director Compensation in 2025 · Outstanding Equity Awards at 2025 Fiscal Year-End
  3. 0001808834-25-000058
  4. 0001808834-24-000068
  5. 0001808834-23-000066
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001808834-23-000041
    Summary Compensation Table
  7. 0001808834-22-000065
  8. 0001808834-21-000069
    Say-on-Pay Proposal
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Prog Holdings executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/PRG (accessed 2026).
Short form: data: Velarion

The paid brief for Prog Holdings

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.
Get the executive briefGet the board briefNo account needed.
8 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 Prog Holdings discloses

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

Ally Financial Inc.Bread Financial Holdings, Inc.Credit Acceptance CorporationDiscover Financial ServicesEncore Capital Group, Inc.Enova International, Inc.Euronet Worldwide, Inc.FirstCash Holdings, Inc.Genpact LimitedGreen Dot CorporationJack Henry & Associates, Inc.LendingTree, Inc.Navient CorporationOneMain Holdings, Inc.PRA Group, Inc.Shift4 Payments, Inc.SLM CorporationSynchrony FinancialWEX Inc.

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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