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Ryan Specialty Holdings Executive Compensation (FY25)

RYAN · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Timothy Turner
Median of the other named officers
$1,653,419
5 officers, excluding the chief executive
Latest say-on-pay support
=
April 28, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of October 22, 2026Latest filing (8-K): May 1, 2026
7 filings cited on this page
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191 figures on this page: 187 cited to the filing that reported them, 4 calculated from figures it prints. See the citations
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)
CEO pay ratio: 45:1 → 16:1 (64.4% 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 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Timothy Turner
President Ryan Specialty Chairman and CEO RT Specialty
◇—◇—◇—◇◇
Patrick Ryan
Founder, Chairman of the Board and Chief Executive Officer
◇———◇—◇◇
Brendan Mulshine
Chief Revenue Officer
◇—◇—◇—◇◇
Jeremiah Bickham
Chief Financial Officer
◇—◇—◇—◇◇
Mark Katz
EVP, General Counsel and Corp Secretary
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Patrick Ryan
Founder, Chairman of the Board and Chief Executive Officer
◇———◇—◇◇
Timothy Turner
President Ryan Specialty Chairman and CEO RT Specialty
◇◇——◇—◇◇
Brendan Mulshine
Chief Revenue Officer
◇——◇◇—◇◇
Jeremiah Bickham
Chief Financial Officer
◇◇——◇—◇◇
Mark Katz
EVP, General Counsel and Corp Secretary
◇◇——◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
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
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
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
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Stephen P. KeoghPSU◇◇◇—◇—◇
Fiscal 2022, 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
Jeremiah BickhamRSU◇◇——
Option◇—◇—
Option◇—◇—
Janice HamiltonRSU◇◇——
RSU◇◇——
Option◇—◇—
Benjamin WullerOption◇—◇—
RSU◇◇——
Option◇—◇—
Timothy TurnerRSU◇◇——
Option◇—◇—
Stephen KeoghRSU◇◇——
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
David P. Bolger
◇◇————◇
John W. Rogers, Jr
Lead independent director
◇◇————◇
Henry S. Bienen
◇◇————◇
Patrick G. Ryan
Board chair
◇◇————◇
Anthony J. Kuczinski
◇◇————◇
Francesca Cornelli
◇◇————◇
Michelle L. Collins
◇◇————◇
Nicholas D. Cortezi
◇◇————◇
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◇
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.
YearMeetingSupportVotes forVotes againstAbstentions
2025April 28, 2026=◇◇◇
2023April 30, 2024=◇◇◇
2022May 1, 2023=◇◇◇
2021June 7, 2022=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

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- Timothy Turner (Chief Executive Officer and Director), FY2025 total compensation $1,454,058 (base salary $1,442,308) [exec_comp, SEC accession 0001849253-26-000013, filed 2026-03-17]

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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.
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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.
191 figures on this page: 187 cited to the filing that reported them, 4 calculated from figures it prints.
187 cited to the filing
4 calculated from the filing

Documents cited

  1. 0001849253-26-000029
  2. 0001849253-26-000013
    Director Compensation · EXECUTIVE COMPENSATION · Outstanding Equity Awards at Fiscal Year-End · Summary Compensation Table
  3. 0001628280-25-018234
    Summary Compensation Table
  4. 0000950170-24-054869
  5. 0000950170-24-033106
  6. 0000950170-23-018078
  7. 0000950170-22-011574
    Item 5.07 Submission of Matters to a Vote of Security Holders
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Velarion, “Ryan Specialty Holdings executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/RYAN (accessed 2026).
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7 filings cited on this page
Method: intel.velarion.ai/methodology
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Insurance rankings

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

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.CBIZ, Inc.Crawford & Co.Erie Indemnity CompanyGoosehead Insurance, Inc.Hanover Insurance Group, Inc.Marsh & McLennan Companies, Inc.Primerica, Inc.RLI Corp.Selective Insurance Group, Inc.Willis Towers Watson PLC

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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