Thermon Group Holdings Executive Compensation (FY25)

Name: Thermon Group Holdings (THR) executive compensation
Creator: Velarion
License: https://intel.velarion.ai/terms

THR · Executive and director compensation, fiscal 2022 to 2025

Chief executive, fiscal 2025

◇

Bruce Thames

Median of the other named officers

$805,250

6 officers, excluding the chief executive

Latest say-on-pay support

July 28, 2025

Chief executive pay ratio

◇

To the median employee

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Data as of November 5, 2026Latest filing (8-K): July 30, 2025

13 filings cited on this page

Method: intel.velarion.ai/methodology

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321 figures on this page: 311 cited to the filing that reported them, 10 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 — Bruce Thames: $2,559,952 → $2,579,122 (0.7% higher)

CEO pay ratio: 41:1 → 40:1 (2.4% lower)

Frequently asked questions

Answers drawn from the data on this page.

Who is Thermon Group Holdings' chief executive and what were they paid?

Bruce Thames was paid $2,579,122 in total compensation as President and Chief Executive Officer for fiscal 2025. Compared with the $2,559,952 reported for fiscal 2024, Thames' total was 0.7% higher.

What was Thermon Group Holdings' say-on-pay result?

For fiscal 2025, the say-on-pay proposal drew 91.8% support at the meeting held July 28, 2025.

Which companies are in Thermon Group Holdings' peer group?

The disclosed peer group names Allient Inc., Aspen Aerogels, Inc., CECO Environmental Corp., CTS Corporation and DMC Global, among others.

What is Thermon Group Holdings' chief executive pay ratio?

The company reported a chief executive pay ratio of 40:1 for fiscal 2025, against median employee compensation of $64,077.

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
Bruce Thames President & CEO	◇	—	◇	—	◇	—	◇	◇
Thomas Cerovski SVP, Sales	◇	—	◇	—	◇	—	◇	◇
Mark Roberts SVP, THS & Engineering	◇	—	◇	—	◇	—	◇	◇
Kevin Fox SVP & CFO	◇	—	◇	—	◇	—	◇	◇

Fiscal 2023

Officer	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
Bruce Thames President & CEO	◇	—	◇	—	◇	—	◇	◇
Roberto Kuahara SVP, Global Operations	◇	—	◇	—	◇	—	◇	◇
Kevin Fox SVP & CFO	◇	—	◇	—	◇	—	◇	◇
Thomas Cerovski SVP, Sales	◇	—	◇	—	◇	—	◇	◇
Mark Roberts SVP, THS & Engineering	◇	—	◇	—	◇	—	◇	◇

Fiscal 2024

Officer	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
Bruce Thames President and Chief Executive Officer	◇	—	◇	—	◇	—	◇	◇
Thomas Cerovski Senior Vice President, Global Sales	◇	—	◇	—	◇	—	◇	◇
Mark Roberts Senior Vice President, Thermon Heating Systems & Engineering	◇	—	◇	—	◇	—	◇	◇
Kevin Fox Former Senior Vice President & Chief Financial Officer Departed during or after this year	◇	—	◇	—	—	—	◇	◇
David Buntin Senior Vice President, Thermon Heat Trace and R&D	◇	—	◇	—	◇	—	◇	◇

Fiscal 2025

Officer	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
Bruce Thames President and Chief Executive Officer	◇	—	◇	—	◇	—	◇	◇
Jan Schott Senior Vice President, Chief Financial Officer	◇	—	◇	—	◇	—	◇	◇
Thomas Cerovski Senior Vice President, Global Business Units	◇	—	◇	—	◇	—	◇	◇
Mark Roberts Senior Vice President, Thermon Heating Systems & Engineering	◇	—	◇	—	◇	—	◇	◇
Roberto Kuahara Senior Vice President, Global Operations	◇	—	◇	—	◇	—	◇	◇
Greg Lucas Vice President, Chief Accounting Officer	◇	—	◇	—	◇	—	◇	◇
Kevin Fox Former Senior Vice President, Chief Financial Officer Departed during or after this year	◇	—	—	—	—	—	◇	◇

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
Bruce Thames	RSU	◇	—	—	◇	—	—	◇
Bruce Thames	PSU	◇	◇	◇	—	◇	—	◇
Bruce Thames	PSU	◇	◇	◇	—	◇	—	◇
Greg Lucas	PSU	◇	◇	◇	—	◇	—	◇
Greg Lucas	RSU	◇	—	—	◇	—	—	◇
Greg Lucas	PSU	◇	◇	◇	—	◇	—	◇
Greg Lucas	RSU	◇	—	—	◇	—	—	◇
Jan Schott	RSU	◇	—	—	◇	—	—	◇
Mark Roberts	RSU	◇	—	—	◇	—	—	◇
Mark Roberts	PSU	◇	◇	◇	—	◇	—	◇
Mark Roberts	PSU	◇	◇	◇	—	◇	—	◇
Roberto Kuahara	RSU	◇	—	—	◇	—	—	◇
Roberto Kuahara	PSU	◇	◇	◇	—	◇	—	◇
Roberto Kuahara	PSU	◇	◇	◇	—	◇	—	◇
Thomas Cerovski	RSU	◇	—	—	◇	—	—	◇
Thomas Cerovski	PSU	◇	◇	◇	—	◇	—	◇
Thomas Cerovski	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
Bruce Thames	PSU	◇	◇	—	—
	RSU	◇	◇	—	—
Roberto Kuahara	RSU	◇	◇	—	—
	PSU	◇	◇	—	—
Jan Schott	RSU	◇	◇	—	—
Mark Roberts	PSU	◇	◇	—	—
	RSU	◇	◇	—	—
Thomas Cerovski	PSU	◇	◇	—	—
	RSU	◇	◇	—	—
Greg Lucas	RSU	◇	◇	—	—
	PSU	◇	◇	—	—

A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.

Bruce Thames

President and Chief Executive Officer · Severance agreement

Severance multiple	◇
Severance base	◇
Change-in-control multiple	◇
Equity acceleration on change in control	◇
Clawback	◇

Greg Lucas

Vice President, Chief Accounting Officer · Severance agreement

Severance multiple	◇
Severance base	◇
Change-in-control multiple	◇
Equity acceleration on change in control	◇
Benefits continuation on change in control	◇
Benefits continuation	◇
Excise tax treatment	◇
Clawback	◇

Jan Schott

Senior Vice President, Chief Financial Officer · Severance agreement

Severance multiple	◇
Severance base	◇
Change-in-control multiple	◇
Equity acceleration on change in control	◇
Benefits continuation on change in control	◇
Benefits continuation	◇
Excise tax treatment	◇
Clawback	◇

Kevin Fox

Former Senior Vice President, Chief Financial Officer · Severance agreement

Severance multiple	◇
Severance base	◇
Change-in-control multiple	◇
Equity acceleration on change in control	◇
Benefits continuation on change in control	◇
Benefits continuation	◇
Excise tax treatment	◇
Clawback	◇

Mark Roberts

Senior Vice President, Thermon Heating Systems & Engineering · Severance agreement

Severance multiple	◇
Severance base	◇
Change-in-control multiple	◇
Equity acceleration on change in control	◇
Benefits continuation on change in control	◇
Benefits continuation	◇
Clawback	◇

Roberto Kuahara

Senior Vice President, Global Operations · Severance agreement

Severance multiple	◇
Severance base	◇
Change-in-control multiple	◇
Equity acceleration on change in control	◇
Benefits continuation on change in control	◇
Benefits continuation	◇
Excise tax treatment	◇
Clawback	◇

Thomas Cerovski

Senior Vice President, Global Business Units · Severance agreement

Severance multiple	◇
Severance base	◇
Change-in-control multiple	◇
Equity acceleration on change in control	◇
Benefits continuation on change in control	◇
Benefits continuation	◇
Excise tax treatment	◇
Clawback	◇

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
John Clarke Board chair	◇	◇	—	—	—	—	◇
Angela Strzelecki	◇	◇	—	—	—	—	◇
Marcus George	◇	◇	—	—	—	—	◇
Roger Fix	◇	◇	—	—	—	—	◇
Linda Dalgetty	◇	◇	—	—	—	—	◇
Victor Richey	◇	◇	—	—	—	—	◇
John Nesser	◇	◇	—	—	—	—	◇
Kevin McGinty	◇	◇	—	—	—	—	◇

Bruce Thames 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	◇

Equity is delivered as Stock Awards.

Disclosed peer group

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

Fiscal 2025

Allient Inc. ALNT
Aspen Aerogels, Inc. ASPN
CECO Environmental Corp. CECO
CTS Corporation CTS
DMC Global BOOM
Dril-Quip, Inc. symbol not shown
Hurco Companies, Inc. HURC
Matrix Service Company MTRX
MISTRAS Group MG
NCS Multistage Holdings, Inc. NCSM
Orion Energy Systems, Inc. OESX
Powell Industries, Inc. POWL
Preformed Line Products Company PLPC
The Gorman-Rupp Company GRC
Vishay Precision Group, Inc. VPG

Say-on-pay history

Shareholder support for the compensation program, by year.

Year	Meeting	Support	Votes for	Votes against	Abstentions
2025	July 28, 2025	=	◇	◇	◇
2024	July 31, 2024	=	◇	◇	◇
2023	July 31, 2024	=	◇	◇	◇
2022	July 31, 2023	=	◇	◇	◇
2021	August 1, 2022	=	◇	◇	◇
2020	August 2, 2021	=	◇	◇	◇
2019	July 22, 2020	=	◇	◇	◇
2018	July 25, 2019	=	◇	◇	◇
2017	July 26, 2017	=	◇	◇	◇
2015	July 27, 2016	=	◇	◇	◇

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?”

- Bruce Thames (President and Chief Executive Officer), FY2025 total compensation $2,579,122 (base salary $715,035) [exec_comp, SEC accession 0001489096-25-000097, filed 2025-06-18]

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What this page does not include

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

Peer benchmarking

Where Thermon Group 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.

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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.

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Board and governance analysis

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

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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.

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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.

321 figures on this page: 311 cited to the filing that reported them, 10 calculated from figures it prints.

311 cited to the filing

10 calculated from the filing

Documents cited

8-K, filed July 30, 2025
0001489096-25-000119
Item 5.07 Submission of Matters to a Vote of Security Holders
DEF 14A, filed June 18, 2025
0001489096-25-000097
CEO PAY RATIO DISCLOSURE · DIRECTOR COMPENSATION · GRANTS OF PLAN-BASED AWARDS · OUTSTANDING EQUITY AWARDS AT FISCAL 20 · and 1 more section
8-K, filed August 5, 2024
0001489096-24-000145
Item 5.07 Submission of Matters to a Vote of Security Holders
DEF 14A, filed June 21, 2024
0001489096-24-000141
FISCAL 2024 SUMMARY COMPENSATION TABLE
8-K, filed August 2, 2023
0001489096-23-000111
Item 5.07 Submission of Matters to a Vote of Security Holders
DEF 14A, filed June 21, 2023
0001489096-23-000090
FISCAL 2023 SUMMARY COMPENSATION TABLE
8-K, filed August 3, 2022
0001489096-22-000109
Item 5.07 Submission of Matters to a Vote of Security Holders
EX-10, filed May 26, 2022
0001489096-22-000059
Employment Agreement
8-K, filed August 3, 2021
0001489096-21-000154
Item 5.07 Submission of Matters to a Vote of Security Holders
8-K, filed July 24, 2020
0001489096-20-000171
Item 5.07 Submission of Matters to a Vote of Security Holders
8-K, filed July 26, 2019
0001489096-19-000188
Item 5.07 Submission of Matters to a Vote of Security Holders
8-K, filed July 28, 2017
0001489096-17-000079
Item 5.07 Submission of Matters to a Vote of Security Holders
8-K, filed August 2, 2016
0001489096-16-000165
Item 5.07 Submission of Matters to a Vote of Security Holders

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13 filings cited on this page

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Peers Thermon Group Holdings discloses

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

Allient Inc.Aspen Aerogels, Inc.CECO Environmental Corp.CTS Corporation DMC Global Hurco Companies, Inc.Matrix Service Company MISTRAS Group NCS Multistage Holdings, Inc.Orion Energy Systems, Inc.Powell Industries, Inc.Preformed Line Products Company The Gorman-Rupp Company Vishay Precision Group, Inc.

Terms on this page

Say-on-Pay Vote CEO Pay Ratio Median Employee Compensation All companies

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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}
}