Insurance
Ryan Specialty Holdings Executive Compensation (FY25)
RYAN · Executive and director compensation, fiscal 2024 to 2025
Data as of September 7, 2026Latest filing (8-K): May 1, 2026
143 figures on this page: 139 cited to the filing that reported them, 4 calculated from figures it prints. See the citations
Timothy Turner, Chief Executive Officer and Director, received $1,454,058 in total compensation for fiscal 2025, and compared with the $5,948,435 reported for fiscal 2024, Turner's total was 75.6% lower. Meanwhile, for fiscal 2025, the say-on-pay proposal drew 100.0% support at the meeting held April 28, 2026. Separately, the disclosed peer group names Aon PLC, Arthur J. Gallagher & Co., AXIS Capital Holdings Limited, Baldwin Insurance Group, Inc and Brown & Brown, Inc., among others. The fiscal 2025 disclosure covers 6 named executive officers.
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 — Timothy Turner: $5,948,435 → $1,454,058 (75.6% lower)
Frequently asked questions
Answers drawn from the data on this page.
Who is Ryan Specialty Holdings' chief executive and what were they paid?
Timothy Turner, Chief Executive Officer and Director, received $1,454,058 in total compensation for fiscal 2025. Compared with the $5,948,435 reported for fiscal 2024, Turner's total was 75.6% lower.
What was Ryan Specialty Holdings' say-on-pay result?
For fiscal 2025, the say-on-pay proposal drew 100.0% support at the meeting held April 28, 2026.
Which companies are in Ryan Specialty Holdings' peer group?
The disclosed peer group names Aon PLC, Arthur J. Gallagher & Co., AXIS Capital Holdings Limited, Baldwin Insurance Group, Inc and Brown & Brown, Inc., among others.
What is Ryan Specialty Holdings' chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 16:1, against median employee compensation of $92,847.
Executive compensation
Every element reported for each named executive officer, by fiscal year.
Fiscal 2024
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Timothy Turner Chief Executive Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Benjamin Wuller CEO Ryan Specialty Underwriting Managers | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Janice Hamilton Chief Financial Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | — not reconciled |
Jeremiah Bickham President | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Michael Conklin Executive Vice President and Chief Human Resources Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Patrick Ryan Executive Chairman of the Board of Directors | ◇ | — | — | — | ◇ | — | ◇ | ◇ |
Brendan Mulshine Executive Vice President and Chief Revenue Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Fiscal 2025
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Jeremiah Bickham Former President Departed during or after this year | ◇ | — | — | — | ◇ | — | ◇ | ◇ |
Stephen Keogh Co-President and Chief Operating Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Benjamin Wuller CEO Ryan Specialty Underwriting Managers | ◇ | — | — | — | ◇ | — | ◇ | ◇ |
Timothy Turner Chief Executive Officer and Director | ◇ | — | — | — | — | — | ◇ | ◇ |
Patrick Ryan Executive Chairman of the Board of Directors | ◇ | — | — | — | — | — | ◇ | ◇ |
Janice Hamilton 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
| Officer | Award | Grant date | Threshold units | Target units | Units granted | Maximum units | Exercise price | Grant date fair value |
|---|---|---|---|---|---|---|---|---|
| Stephen P. Keogh | PSU | ◇ | ◇ | ◇ | ◇ | ◇ | — | ◇ |
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
| Officer | Award | Unvested units | Market value of unvested units | Exercise price | Expires |
|---|---|---|---|---|---|
| Timothy Turner | Option | ◇ | — | ◇ | — |
| RSU | ◇ | ◇ | — | — | |
| Jeremiah Bickham | Option | ◇ | — | ◇ | — |
| RSU | ◇ | ◇ | — | — | |
| Option | ◇ | — | ◇ | — | |
| Janice Hamilton | Option | ◇ | — | ◇ | — |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| Benjamin Wuller | Option | ◇ | — | ◇ | — |
| RSU | ◇ | ◇ | — | — | |
| Option | ◇ | — | ◇ | — | |
| Stephen Keogh | 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
| Director | Fees earned in cash | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|
David P. Bolger | ◇ | ◇ | — | — | — | — | ◇ |
John W. Rogers, Jr Lead independent director | ◇ | ◇ | — | — | — | — | ◇ |
Henry S. Bienen | ◇ | ◇ | — | — | — | — | ◇ |
Francesca Cornelli | ◇ | ◇ | — | — | — | — | ◇ |
Anthony J. Kuczinski | ◇ | ◇ | — | — | — | — | ◇ |
Michelle L. Collins | ◇ | ◇ | — | — | — | — | ◇ |
Nicholas D. Cortezi | ◇ | ◇ | — | — | — | — | ◇ |
Patrick G. Ryan Board chair | — | — | — | — | — | — | ◇ |
Patrick G. Ryan, Jr | ◇ | ◇ | — | — | — | — | ◇ |
D. Cameron Findlay | ◇ | ◇ | — | — | — | — | ◇ |
Michael D. O'Halleran | — | ◇ | — | — | — | — | ◇ |
Michael G. Bungert | ◇ | — | — | — | — | — | ◇ |
Robert M. Le Blanc and Timothy W. Turner 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 | ◇ |
Disclosed peer group
The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
- Aon PLC AON
- Arthur J. Gallagher & Co. AJG
- AXIS Capital Holdings Limited AXS
- Baldwin Insurance Group, Inc BWIN
- Brown & Brown, Inc. BRO
- CBIZ, Inc. CBZ
- Crawford & Co. CRD-B
- Erie Indemnity Company ERIE
- Goosehead Insurance, Inc. GSHD
- Hanover Insurance Group, Inc. THG
- Marsh & McLennan Companies, Inc. MRSH
- Primerica, Inc. PRI
- RLI Corp. RLI
- Selective Insurance Group, Inc. SIGI
- Willis Towers Watson PLC WTW
Say-on-pay history
Shareholder support for the compensation program, by year.
| Year | Meeting | Support | Votes for | Votes against | Abstentions |
|---|---|---|---|---|---|
| 2025 | April 28, 2026 | = | ◇ | ◇ | ◇ |
| 2023 | April 30, 2024 | = | ◇ | ◇ | ◇ |
| 2022 | May 1, 2023 | = | ◇ | ◇ | ◇ |
| 2021 | June 7, 2022 | = | ◇ | ◇ | ◇ |
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 Ryan Specialty Holdings disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Ryan Specialty 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 — $1,500Written 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.
Enquire about accessMultiple companies at once
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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.
143 figures on this page: 139 cited to the filing that reported them, 4 calculated from figures it prints.
139 cited to the filing
4 calculated from the filing
Documents cited
- 0001849253-26-000029
- 0001849253-26-000013Director Compensation · EXECUTIVE COMPENSATION · Outstanding Equity Awards at Fiscal Year-End · Summary Compensation Table
- 0001628280-25-018234Summary Compensation Table
- 0000950170-24-054869
- 0000950170-23-018078
- 0000950170-22-011574Item 5.07 Submission of Matters to a Vote of Security Holders
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Ryan Specialty Holdings executive compensation, FY2024–FY2025.” https://intel.velarion.ai/comp/RYAN (accessed 2026).
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Insurance rankings
Peers Ryan Specialty Holdings discloses
The companies named in RYAN's own disclosed peer group.
Aon PLCArthur J. Gallagher & Co.AXIS Capital Holdings LimitedBaldwin Insurance Group, IncBrown & Brown, Inc.Crawford & Co.Erie Indemnity CompanyGoosehead Insurance, Inc.Hanover Insurance Group, Inc.Marsh & McLennan Companies, Inc.Primerica, Inc.Selective Insurance Group, Inc.Willis Towers Watson PLC
Terms on this page
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}
}