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Stifel Financial Executive Compensation (FY25)

SF · Executive and director compensation, fiscal 2022 to 2025

The paid brief on Stifel Financial

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Data as of September 7, 2026Latest filing (8-K): June 9, 2026
13 filings cited on this page
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
Stifel Financial brief$1,500Get the executive brief
294 figures on this page: 285 cited to the filing that reported them, 9 calculated from figures it prints. See the citations
Chief executive, fiscal 2025
◇
Ronald Kruszewski
Median of the other named officers
$9,253,526
5 officers, excluding the chief executive
Latest say-on-pay support
=
June 9, 2026
Chief executive pay ratio
◇
To the median employee

More on Stifel Financial

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 — Ronald Kruszewski: $16,082,515 → $18,908,297 (17.6% higher)
Say-on-pay support: 96.8% → 98.1% (1.3 points higher)
CEO pay ratio: 129:1 → 145:1 (12.4% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Stifel Financial's chief executive and what were they paid?
Total compensation for Ronald Kruszewski, Chairman and Chief Executive Officer, came to $18,908,297 in fiscal 2025. Kruszewski's total moved 17.6% higher from the $16,082,515 reported for fiscal 2024.
What was Stifel Financial's say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 98.1% of votes cast for or against in favor at the meeting held June 9, 2026.
Which companies are in Stifel Financial's peer group?
The disclosed peer group includes Affiliated Managers Group Inc., Ameriprise Financial, Inc., Evercore Inc., Franklin Resources, Inc. and Houlihan Lokey, Inc., among others.
What is Stifel Financial's chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 145:1, against median employee compensation of $130,840.

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
Ronald Kruszewski
Chairman and Chief Executive Officer
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Ronald Kruszewski
Chairman and Chief Executive Officer
◇◇◇———◇◇
James Zemlyak
Co-President and Head of Global Wealth Management
◇◇◇———◇◇
Victor Nesi
Co-President and Director of the Institutional Group
◇◇◇———◇◇
Thomas Michaud
Senior Vice President
◇◇◇———◇◇
James Marischen
Chief Financial Officer
◇◇◇———◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Ronald Kruszewski
Chairman and Chief Executive Officer
◇◇◇———◇◇
James Zemlyak
Co-President and Head of Global Wealth Management
◇◇◇———◇— not reconciled
Victor Nesi
Co-President and Director of the Institutional Group
◇◇◇———◇◇
Thomas Michaud
Senior Vice President
◇◇◇———◇◇
James Marischen
Chief Financial Officer
◇◇◇———◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Ronald Kruszewski
Chairman and Chief Executive Officer
◇◇◇———◇◇
James Zemlyak
President and Head of Global Wealth Management
◇◇◇———◇◇
Victor Nesi
Co-President and Head of Institutional Group (retired July 2025)
Departed during or after this year
◇◇◇———◇◇
Thomas Michaud
Senior Vice President
◇◇◇———◇◇
C. Brad Raymond
Co-Head of Institutional Group
◇◇◇———◇◇
James Marischen
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
C. Brad RaymondPSU◇◇◇◇◇—◇
James M. MarischenPSU◇◇◇◇◇—◇
James M. ZemlyakPSU◇◇◇◇◇—◇
Ronald J. KruszewskiPSU◇◇◇◇◇—◇
Thomas B. MichaudPSU◇◇◇◇◇—◇
Victor J. NesiPSU◇◇◇◇◇—◇
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
James MarischenRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Thomas MichaudRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Victor NesiRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Ronald KruszewskiRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
James ZemlyakRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
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
David A. Peacock
Lead independent director
◇◇————◇
Michael J. Zimmerman
◇◇————◇
Maura A. Markus
◇◇————◇
James P. Kavanaugh
◇◇————◇
Maryam S. Brown
◇◇————◇
Michael W. Brown
◇◇————◇
Lisa L. Carnoy
◇◇————◇
Adam T. Berlew
◇◇————◇
Thomas W. Weisel, Ronald J. Kruszewski, Victor J. Nesi and Robert E. Grady 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◇
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
  • Affiliated Managers Group Inc. AMG
  • Ameriprise Financial, Inc. AMP
  • Evercore Inc. EVR
  • Franklin Resources, Inc. BEN
  • Houlihan Lokey, Inc. HLI
  • Invesco Ltd. IVZ
  • Jefferies Financial Group Inc. JEF
  • Lazard Ltd. LAZ
  • LPL Financial Holdings Inc. LPLA
  • Moelis & Company MC
  • Northern Trust Corp. NTRS
  • Piper Sandler Companies PIPR
  • Raymond James Financial, Inc. RJF
  • T. Rowe Price Group, Inc. TROW

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025June 9, 2026=◇◇◇
2024June 4, 2025=◇◇◇
2023June 5, 2024=◇◇◇
2022June 7, 2023=◇◇◇
2021June 13, 2022=◇◇◇
2020May 26, 2021=◇◇◇
2019May 15, 2020=◇◇◇
2018June 5, 2019=◇◇◇
2016June 6, 2017=◇◇◇

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 Stifel Financial disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Stifel Financial 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.
294 figures on this page: 285 cited to the filing that reported them, 9 calculated from figures it prints.
285 cited to the filing
9 calculated from the filing

Documents cited

  1. 0001193125-26-263768
  2. 0001193125-26-191643
    CEO PAY RATIO · Director Compensation · Non-Employee Director Compensation · OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END · and 3 more sections
  3. 0001193125-25-134887
  4. 0001193125-25-094691
    SUMMARY COMPENSATION TABLE
  5. 0001193125-24-155123
  6. 0001193125-24-114392
    SUMMARY COMPENSATION TABLE
  7. 0001193125-23-162514
  8. 0001193125-23-127640
  9. 0001193125-22-172898
  10. 0001193125-21-173578
  11. 0001193125-20-143928
  12. 0001193125-19-166107
  13. 0001193125-17-197091
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Stifel Financial executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/SF (accessed 2026).
Short form: data: Velarion

The paid brief for Stifel Financial

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.
13 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 Stifel Financial discloses

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

Affiliated Managers Group Inc.Ameriprise Financial, Inc.Evercore Inc.Franklin Resources, Inc.Houlihan Lokey, Inc.Invesco Ltd.Jefferies Financial Group Inc.Lazard Ltd.LPL Financial Holdings Inc.Moelis & CompanyNorthern Trust Corp.Piper Sandler CompaniesRaymond James Financial, Inc.T. Rowe Price Group, 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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