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Royal Gold Executive Compensation (FY25)

RGLD · Executive and director compensation, fiscal 2022 to 2025

The paid brief on Royal Gold

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Data as of September 21, 2026Latest filing (DEF 14A): April 3, 2026
4 filings cited on this page
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Royal Gold brief$1,500Get the executive brief
262 figures on this page, cited to the filing that reported them. See the citations
Chief executive, fiscal 2025
◇
William Heissenbuttel
Chief executive pay ratio
◇
To the median employee

More on Royal Gold

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 — William Heissenbuttel: $4,184,508 → $5,230,084 (25.0% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Royal Gold's chief executive and what were they paid?
Total compensation for William Heissenbuttel, President and CEO, came to $5,230,084 in fiscal 2025. Compared with the $4,184,508 reported for fiscal 2024, Heissenbuttel's total was 25.0% higher.
Which companies are in Royal Gold's peer group?
The disclosed peer group names Agnico Eagle Mines Limited, Alamos Gold Inc., B2Gold Corp., Eldorado Gold Corporation and Franco-Nevada Corporation, among others.
What is Royal Gold's chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 11.2:1, against median employee compensation of $467,055.

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
William Heissenbuttel
President and CEO
◇—◇—◇—◇◇
Mark Isto
Former EVP and Chief Operating Officer, Royal Gold Corporation
◇—◇—◇—◇◇
Daniel Breeze
SVP, Corporate Development, RGLD Gold AG
◇—◇—◇—◇◇
Paul Libner
SVP and CFO
◇—◇—◇—◇◇
Martin Raffield
SVP, Operations
◇◇◇———◇◇
Randy Shefman
SVP and General Counsel
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
William Heissenbuttel
President and CEO
◇—◇—◇—◇◇
Mark Isto
Former EVP and Chief Operating Officer, Royal Gold Corporation
Departed during or after this year
◇—◇—◇—◇◇
Paul Libner
SVP and CFO
◇—◇—◇—◇◇
Daniel Breeze
SVP, Corporate Development, RGLD Gold AG
◇—◇—◇—◇◇
Randy Shefman
SVP and General Counsel
◇—◇—◇—◇◇
Martin Raffield
SVP, Operations
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
William Heissenbuttel
President and CEO
◇—◇—◇—◇◇
Daniel Breeze
SVP, Corporate Development, RGLD Gold AG
◇—◇—◇—◇◇
Paul Libner
SVP and CFO
◇—◇—◇—◇◇
Randy Shefman
SVP and General Counsel
◇—◇—◇—◇◇
Martin Raffield
SVP, Operations
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
William Heissenbuttel
President and CEO
◇◇◇—◇—◇◇
Daniel Breeze
SVP, Corporate Development, RGLD Gold AG
◇◇◇—◇—◇◇
Paul Libner
SVP and CFO
◇◇◇—◇—◇◇
Randy Shefman
SVP and General Counsel
◇◇◇—◇—◇◇
Martin Raffield
SVP, Operations
◇◇◇—◇—◇◇
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
Daniel BreezeRSU◇——◇——◇
Daniel BreezePSU◇—◇—◇—◇
Martin RaffieldPSU◇—◇—◇—◇
Martin RaffieldRSU◇——◇——◇
Paul LibnerPSU◇—◇—◇—◇
Paul LibnerRSU◇——◇——◇
Randy ShefmanPSU◇—◇—◇—◇
Randy ShefmanRSU◇——◇——◇
William HeissenbuttelPSU◇—◇—◇—◇
William HeissenbuttelRSU◇——◇——◇
Fiscal 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
Randy ShefmanOption◇—◇8/18/2030
Option◇—◇1/2/2030
Option◇—◇8/13/2029
RSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
Daniel BreezeOption◇—◇8/18/2030
Option◇—◇8/13/2029
RSU◇◇——
Option◇—◇1/2/2029
RSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
William HeissenbuttelOption◇—◇1/2/2030
Option◇—◇8/13/2029
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
Option◇—◇8/18/2030
Martin RaffieldPSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
Paul LibnerRSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
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
William Hayes
◇◇————◇
Kevin McArthur
◇◇————◇
Sybil Veenman
◇◇————◇
Jamie Sokalsky
◇◇————◇
Fabiana Chubbs
◇◇————◇
Ronald Vance
◇◇————◇
Mark Isto
◇—————◇
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◇
Board chair premium◇
Audit committee chair◇
Compensation committee chair◇
Nominating and governance chair◇
Board meeting fee◇
Committee meeting fee◇
Equity is delivered as Restricted Stock / RSUs.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Agnico Eagle Mines Limited symbol not shown
  • Alamos Gold Inc. symbol not shown
  • B2Gold Corp. symbol not shown
  • Eldorado Gold Corporation symbol not shown
  • Franco-Nevada Corporation symbol not shown
  • Hecla Mining Company HL
  • Kinross Gold Corporation symbol not shown
  • Lundin Gold, Inc. symbol not shown
  • OR Royalties Inc. OR
  • Pan American Silver Corp. symbol not shown
  • Sandstorm Gold Ltd symbol not shown
  • SSR Mining Inc. SSRM
  • Triple Flag Precious Metals Corp symbol not shown
  • Wheaton Precious Metals Corporation symbol not shown
Executive Compensation Peer Group
  • Agnico Eagle Mines Limited symbol not shown

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 Royal Gold disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Royal Gold 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.
262 figures on this page, cited to the filing that reported them.
262 cited to the filing

Documents cited

  1. 0000085535-26-000018
    CEO Pay Ratio · Director Compensation · Director Compensation Table · Grants of Plan-Based Awards in · and 2 more sections
  2. 0000085535-25-000065
    Summary Compensation Table
  3. 0001104659-24-044768
    Summary Compensation Table
  4. 0001104659-23-043579
    Summary Compensation Table
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Royal Gold executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/RGLD (accessed 2026).
Short form: data: Velarion

The paid brief for Royal Gold

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.
Get the executive briefGet the board briefNo account needed.
4 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 Royal Gold discloses

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

Hecla Mining CompanySSR Mining 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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