Utilities

Spire Executive Compensation (FY25)

Name: Spire (SR) executive compensation
Creator: Velarion
License: https://intel.velarion.ai/terms

SR · Executive and director compensation, fiscal 2022 to 2025

Chief executive, fiscal 2025

◇

Scott Doyle

Median of the other named officers

$1,022,998

6 officers, excluding the chief executive

Latest say-on-pay support

January 29, 2026

Chief executive pay ratio

◇

To the median employee

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Data as of November 5, 2026Latest filing (8-K): January 30, 2026

11 filings cited on this page

Method: intel.velarion.ai/methodology

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Published by Velarion Company Intelligence

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282 figures on this page: 258 cited to the filing that reported them, 24 calculated from figures it prints. See the citations

Frequently asked questions

Answers drawn from the data on this page.

Who is Spire's chief executive and what were they paid?

Total compensation for Scott Doyle, President and Chief Executive Officer, came to $3,328,340 in fiscal 2025. Compared with the $1,841,561 reported for fiscal 2024, Doyle's total was 80.7% higher.

What was Spire's say-on-pay result?

Shareholders supported the say-on-pay proposal with 98.4% of votes cast including abstentions in favor at the meeting held January 29, 2026 for fiscal 2025.

Which companies are in Spire's peer group?

The disclosed peer group names ALLETE, Inc., Ameren Corp., Essential Utilities, Inc., Evergy, Inc. and General Electric Company, among others. The additional disclosed peer group names Alliant Energy Corp., American, Atmos Energy Corp., Avista Corp. and Black Hills Corp., among others.

What is Spire's chief executive pay ratio?

The disclosed chief executive pay ratio for fiscal 2025 is 32:1, against median employee compensation of $107,562.

Executive compensation

Every element reported for each named executive officer, by fiscal year.

Fiscal 2022

Officer	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
Suzanne Sitherwood President and Chief Executive Officer	◇	—	◇	—	◇	◇	◇	◇
Steven Lindsey President and Chief Executive Officer	◇	—	◇	—	◇	◇	◇	◇
Steven Rasche Executive Vice President, Chief Financial Officer	◇	—	◇	—	◇	◇	◇	◇
Mark Darrell Senior Vice President, Chief Legal and Compliance Officer	◇	—	◇	—	◇	◇	◇	◇
Michael Geiselhart Senior Vice President, Chief Strategy and Corporate Development Officer	◇	—	◇	—	◇	◇	◇	◇

Fiscal 2023

Officer	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
Suzanne Sitherwood President and Chief Executive Officer	◇	—	◇	—	◇	◇	◇	◇
Steven Lindsey President and Chief Executive Officer	◇	—	◇	—	◇	◇	◇	◇
Steven Rasche Executive Vice President, Chief Financial Officer	◇	—	◇	—	◇	◇	◇	◇
Mark Darrell Senior Vice President, Chief Legal and Compliance Officer	◇	—	◇	—	◇	◇	◇	◇
Michael Geiselhart Senior Vice President, Chief Strategy and Corporate Development Officer	◇	—	◇	—	◇	◇	◇	◇

Fiscal 2024

Officer	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
Steven Lindsey President and Chief Executive Officer	◇	—	◇	—	◇	◇	◇	◇
Scott Doyle Executive Vice President, Chief Operating Officer	◇	—	◇	—	◇	—	◇	◇
Steven Rasche Executive Vice President, Chief Financial Officer	◇	—	◇	—	◇	◇	◇	◇
Michael Geiselhart Senior Vice President, Chief Strategy and Corporate Development Officer	◇	—	◇	—	◇	◇	◇	◇
Ryan Hyman Senior Vice President, Chief Customer and Information Officer	◇	—	◇	—	◇	◇	◇	◇

Fiscal 2025

Officer	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
Steven Lindsey Former President and Chief Executive Officer Departed during or after this year	◇	—	◇	—	—	◇	◇	◇
Scott Doyle President and Chief Executive Officer	◇	—	◇	—	◇	◇	◇	◇
Steven Rasche Former Executive Vice President, Chief Financial Officer Departed during or after this year	◇	—	◇	—	◇	◇	◇	◇
Adam Woodard Executive Vice President, Chief Financial Officer	◇	—	◇	—	◇	◇	◇	◇
Matthew Aplington Senior Vice President, Chief Legal Officer	◇	—	◇	—	◇	◇	◇	◇
Ryan Hyman Senior Vice President, Chief Customer and Information Officer	◇	—	◇	—	◇	◇	◇	◇
Stephen Mills Senior Vice President, President, Spire Missouri Inc.	◇	—	◇	—	◇	◇	◇	◇

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
Adam Woodard	PSU	◇	◇	◇	◇	◇	—	◇
Matthew Aplington	PSU	◇	◇	◇	◇	◇	—	◇
Ryan Hyman	PSU	◇	◇	◇	◇	◇	—	◇
Scott Doyle	PSU	◇	◇	◇	◇	◇	—	◇
Scott Doyle	PSU	◇	◇	◇	◇	◇	—	◇
Stephen Mills	PSU	◇	◇	◇	◇	◇	—	◇
Steven Lindsey	PSU	◇	◇	◇	◇	◇	—	◇
Steven Rasche	PSU	◇	◇	◇	◇	◇	—	◇

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

Officer	Award	Unvested units	Market value of unvested units	Exercise price	Expires
Steven Lindsey	RSU	◇	=	—	—
	PSU	◇	=	—	—
	RSU	◇	=	—	—
Steven Rasche	PSU	◇	=	—	—
	RSU	◇	=	—	—
	RSU	◇	=	—	—
	RSU	◇	=	—	—
Ryan Hyman	PSU	◇	=	—	—
	RSU	◇	=	—	—
Adam Woodard	RSU	◇	=	—	—
	PSU	◇	=	—	—
Matthew Aplington	RSU	◇	=	—	—
	PSU	◇	=	—	—
Scott Doyle	RSU	◇	=	—	—
Stephen Mills	RSU	◇	=	—	—
	PSU	◇	=	—	—

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
Rob L. Jones Board chair	◇	◇	—	—	—	—	◇
Mark A. Borer	◇	◇	—	—	◇	—	◇
Maria V. Fogarty	◇	◇	—	—	◇	—	◇
Brenda D. Newberry	◇	◇	—	—	◇	—	◇
Vinny J. Ferrari	◇	◇	—	—	—	—	◇
John P. Stupp Jr	◇	◇	—	—	—	—	◇
Sheri S. Cook	◇	◇	—	—	—	—	◇
Paul D. Koonce	◇	◇	—	—	—	—	◇
Carrie J. Hightman	◇	◇	—	—	—	—	◇

Scott E. Doyle 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	◇
Board chair premium	◇
Audit committee chair	◇
Compensation committee chair	◇
Nominating and governance chair	◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.

Fiscal 2025

ALLETE, Inc. ALE
Ameren Corp. AEE
Essential Utilities, Inc. WTRG
Evergy, Inc. EVRG
General Electric Company GE
Hawaiian Electric Industries, Inc. HE
IDACORP, Inc. IDA
MDU Resources Group, Inc. MDU
MGE Energy, Inc. MGEE
National Fuel Gas Company NFG
OGE Energy Corp. OGE
Pinnacle West Capital Corp. PNW
PNM Resources, Inc. TXNM
Portland POR
South Jersey Industries, Inc. SJI
Southwest Gas Holdings, Inc. SWX
UGI Corporation UGI
Water Works Company, Inc. AWK

Additional disclosed peer group

Alliant Energy Corp. LNT
American AMT
Atmos Energy Corp. ATO
Avista Corp. AVA
Black Hills Corp. BKH
CenterPoint Energy, Inc. CNP
New Jersey Resources Corp. NJR
NiSource Inc. NI
NorthWestern Corp. NWE
ONE Gas, Inc. OGS

Say-on-pay history

Shareholder support for the compensation program, by year.

Year	Meeting	Support	Votes for	Votes against	Abstentions
2025	January 29, 2026	=	◇	◇	◇
2024	January 30, 2025	=	◇	◇	◇
2023	January 25, 2024	=	◇	◇	◇
2020	January 28, 2021	=	◇	◇	◇
2019	January 30, 2020	=	◇	◇	◇
2018	January 31, 2019	=	◇	◇	◇
2017	January 25, 2018	=	◇	◇	◇
2016	January 26, 2017	=	◇	◇	◇

Chief executive pay ratio

As calculated and reported by the company.

Ratio

◇

Median employee compensation

◇

Chief executive total compensation

◇

Ask our research desk — $99, 24h, every figure cited to its filing.

Sample answer — “What is the CEO’s total compensation?”

- Steven Lindsey (Former President and Chief Executive Officer), FY2025 total compensation $5,066,799 (base salary $497,308) [exec_comp, SEC accession 0001308179-25-000657, filed 2025-12-16]

See a complete sample report

What this page does not include

Everything above is a fact Spire disclosed, and it is free. Everything below is our analysis of those facts, and it is not.

Peer benchmarking

Where Spire 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 — $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 — $500

Board and governance analysis

Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.

Board Governance Report — $500

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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Multiple companies at once

Cross-company views, cohort screens, and data export across the industries we cover. This page is one company; the platform is all of them.

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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.

282 figures on this page: 258 cited to the filing that reported them, 24 calculated from figures it prints.

258 cited to the filing

24 calculated from the filing

Documents cited

8-K, filed January 30, 2026
0001193125-26-031837
Proposal 2 – Advisory Vote on Executive Compensation Advisory vote to approve the compensation of the Company’s named executive officers received the following vote: Number of Votes For Against Abstai
DEF 14A, filed December 16, 2025
0001308179-25-000657
CEO Pay Ratio · Directors’ compensation · Executive compensation tables
8-K, filed January 31, 2025
0000950170-25-011755
Proposal 2 – Advisory Vote on Executive Compensation Advisory vote to approve the compensation of the Company’s named executive officers received the following vote: Number of Votes For Against Abstai
DEF 14A, filed December 18, 2024
0001308179-24-000822
Executive compensation tables
8-K, filed January 31, 2024
0001437749-24-002694
Item 5.07 Submission of Matters to a Vote of Security Holders
DEF 14A, filed December 13, 2023
0001308179-23-001074
Executive compensation tables
8-K, filed February 1, 2021
0001564590-21-003535
Item 5.07 Submission of Matters to a Vote of Security Holders
8-K, filed January 31, 2020
0001564590-20-002933
Item 5.07 Submission of Matters to a Vote of Security Holders
8-K, filed February 5, 2019
0001564590-19-001935
Item 5.07 Submission of Matters to a Vote of Security Holders
8-K, filed January 26, 2018
0001126956-18-000015
Item 5.07 Submission of Matters to a Vote of Security Holders
8-K, filed January 27, 2017
0001126956-17-000003
Item 5.07 Submission of Matters to a Vote of Security Holders

Cite this data

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Velarion, “Spire executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/SR (accessed 2026).

Short form: data: Velarion

The paid brief for Spire

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.

$500 for the Executive Compensation Report. Both reports for $900.

Get the executive brief Get the board briefNo account needed.

11 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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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}
}

Spire Executive Compensation (FY25)

The paid brief on Spire

More on Spire

Frequently asked questions

Executive compensation

Equity awards granted

Outstanding awards

Director compensation

Director fee schedule

Disclosed peer group

Say-on-pay history

Chief executive pay ratio

What this page does not include

Citations

Documents cited

The paid brief for Spire

Utilities rankings

Peers Spire discloses

Terms on this page