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Thermon Group Holdings Executive Compensation (FY25)

THR · Executive and director compensation, fiscal 2024 to 2025

The Thermon Group Holdings brief, $1,500

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Data as of September 7, 2026Latest filing (8-K): July 30, 2025
12 filings cited on this page
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
Thermon Group Holdings brief$1,500Get the executive brief
211 figures on this page: 201 cited to the filing that reported them, 10 calculated from figures it prints. See the citations
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
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 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
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
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
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
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Bruce ThamesPSU—◇◇—◇—◇
Mark RobertsPSU—◇◇—◇—◇
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
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Mark RobertsRSU◇◇——
PSU◇◇——
Roberto KuaharaRSU◇◇——
PSU◇◇——
Thomas CerovskiRSU◇◇——
PSU◇◇——
Greg LucasRSU◇◇——
PSU◇◇——
Bruce ThamesPSU◇◇——
RSU◇◇——
Jan SchottRSU◇◇——
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
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
John Clarke
Board chair
◇◇————◇
Roger Fix
◇◇————◇
Angela Strzelecki
◇◇————◇
Marcus George
◇◇————◇
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◇

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.
YearMeetingSupportVotes forVotes againstAbstentions
2025July 28, 2025=◇◇◇
2024July 31, 2024=◇◇◇
2023July 31, 2024=◇◇◇
2022July 31, 2023=◇◇◇
2021August 1, 2022=◇◇◇
2020August 2, 2021=◇◇◇
2019July 22, 2020=◇◇◇
2018July 25, 2019=◇◇◇
2017July 26, 2017=◇◇◇
2015July 27, 2016=◇◇◇

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 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.
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.
211 figures on this page: 201 cited to the filing that reported them, 10 calculated from figures it prints.
201 cited to the filing
10 calculated from the filing

Documents cited

  1. 0001489096-25-000119
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001489096-25-000097
    CEO Pay Ratio · DIRECTOR COMPENSATION · FISCAL 2025 DIRECTOR COMPENSATION TABLE · FISCAL 2025 SUMMARY COMPENSATION TABLE · and 2 more sections
  3. 0001489096-24-000145
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001489096-24-000141
    FISCAL 2024 SUMMARY COMPENSATION TABLE
  5. 0001489096-23-000111
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001489096-22-000109
    Item 5.07 Submission of Matters to a Vote of Security Holders
  7. 0001489096-22-000059
    Employment Agreement
  8. 0001489096-21-000154
    Item 5.07 Submission of Matters to a Vote of Security Holders
  9. 0001489096-20-000171
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0001489096-19-000188
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0001489096-17-000079
    Item 5.07 Submission of Matters to a Vote of Security Holders
  12. 0001489096-16-000165
    Item 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, “Thermon Group Holdings executive compensation, FY2024–FY2025.” https://intel.velarion.ai/comp/THR (accessed 2026).
Short form: data: Velarion

The Thermon Group Holdings brief, $1,500

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $1,200 for the board report; $2,400 for both.
Get the executive briefGet the board briefNo account needed.
12 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 Thermon Group Holdings discloses

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

Allient Inc.Aspen Aerogels, Inc.CECO Environmental Corp.CTS CorporationHurco Companies, Inc.Matrix Service CompanyMISTRAS GroupPowell Industries, Inc.Preformed Line Products CompanyThe Gorman-Rupp CompanyVishay Precision 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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