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Winnebago Industries Executive Compensation (FY25)

WGO · Executive and director compensation, fiscal 2023 to 2025

The paid brief on Winnebago Industries

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.
Data as of September 9, 2026Latest filing (8-K): December 17, 2025
11 filings cited on this page
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
Winnebago Industries brief$1,500Get the executive brief
347 figures on this page: 337 cited to the filing that reported them, 10 calculated from figures it prints. See the citations
Chief executive, fiscal 2025
◇
Michael Happe
Latest say-on-pay support
=
December 16, 2025

More on Winnebago Industries

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 — Michael Happe: $7,217,231 → $8,999,898 (24.7% higher)
Say-on-pay support: 97.6% → 96.3% (1.3 points lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Winnebago Industries' chief executive and what were they paid?
Michael Happe, President and Chief Executive Officer, received $8,999,898 in total compensation for fiscal 2025. Compared with the $7,217,231 reported for fiscal 2024, Happe's total was 24.7% higher.
What was Winnebago Industries' say-on-pay result?
The say-on-pay proposal drew 96.3% of votes cast for or against in favor at the meeting held December 16, 2025 for fiscal 2025.
Which companies are in Winnebago Industries' peer group?
Companies named in the disclosed peer group include American Axle, Brunswick Corporation, Crane Co., Dana Incorporated and Donaldson Company, Inc., among others.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Michael Happe
President and Chief Executive Officer
◇—◇◇◇—◇◇
Donald Clark
Group President – Towable RV Segment; President – Grand Design RV
◇———◇—◇◇
Bryan Hughes
Senior Vice President – Chief Financial Officer, Investor Relations, Information Technology and Business Development
◇—◇◇◇—◇◇
Stacy Bogart
Senior Vice President – Chief Legal Officer, Corporate Secretary and Corporate Responsibility
◇—◇◇◇—◇◇
Casey Tubman
Group President – Newmar and Winnebago Motorized
◇—◇◇◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Michael Happe
President and Chief Executive Officer
◇—◇◇◇—◇◇
Donald Clark
Group President – Towable RV Segment; President – Grand Design RV
◇———◇—◇◇
Bryan Hughes
Senior Vice President – Chief Financial Officer, Investor Relations, Information Technology and Business Development
◇—◇◇◇—◇◇
Casey Tubman
Group President – Newmar and Winnebago Motorized
◇—◇◇◇—◇◇
Stacy Bogart
Senior Vice President – Chief Legal Officer, Corporate Secretary and Corporate Responsibility
◇—◇◇◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Michael Happe
President and Chief Executive Officer
◇—◇◇◇—◇◇
Donald Clark
Group President – Towable RV Segment; President – Grand Design RV
◇———◇—◇◇
Bryan Hughes
Senior Vice President – Chief Financial Officer, Investor Relations, Information Technology and Business Development
◇—◇◇◇—◇◇
Casey Tubman
Group President – Newmar and Winnebago Motorized
◇—◇◇◇—◇◇
Stacy Bogart
Senior Vice President – Chief Legal Officer, Corporate Secretary and Corporate Responsibility
◇—◇◇◇—◇◇
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
Bryan L. HughesPSU◇◇◇—◇—◇
Bryan L. HughesOPTION◇——◇—◇◇
Bryan L. HughesRSU◇——◇——◇
Bryan L. HughesPSU◇◇◇—◇—◇
Casey J. TubmanOPTION◇——◇—◇◇
Casey J. TubmanPSU◇◇◇—◇—◇
Casey J. TubmanRSU◇——◇——◇
Casey J. TubmanPSU◇◇◇—◇—◇
Michael J. HappePSU◇◇◇—◇—◇
Michael J. HappeOPTION◇——◇—◇◇
Michael J. HappeRSU◇——◇——◇
Michael J. HappePSU◇◇◇—◇—◇
Stacy L. BogartOPTION◇——◇—◇◇
Stacy L. BogartPSU◇◇◇—◇—◇
Stacy L. BogartRSU◇——◇——◇
Stacy L. BogartPSU◇◇◇—◇—◇
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
Stacy BogartOption◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
Casey TubmanOption◇—◇—
Option◇—◇—
Option◇—◇—
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
Bryan HughesOption◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
RSU◇◇——
RSU◇◇——
Option◇—◇—
PSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
Option◇—◇—
PSU◇◇——
Michael HappeOption◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
RSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
Donald ClarkRSU◇◇——
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 W. Miles
Board chair
◇◇————◇
Kevin E. Bryant
◇◇————◇
John M. Murabito
◇◇————◇
Staci L. Kroon
◇◇————◇
Sara E. Armbruster
◇◇————◇
William C. Fisher
◇◇————◇
Christopher J. Braun
◇◇————◇
Jacqueline D. Woods
◇◇————◇
Richard D. Moss
◇◇————◇
Michael E. Pack
◇◇————◇
Michael J. Happe 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.
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 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
  • American Axle AXL
  • Brunswick Corporation BC
  • Crane Co. CR
  • Dana Incorporated DAN
  • Donaldson Company, Inc. DCI
  • Harley-Davidson, Inc. HOG
  • Hyster-Yale HY
  • LCI Industries LCII
  • Oshkosh Corporation OSK
  • Patrick Industries PATK
  • Polaris PII
  • REV Group symbol not shown
  • The Timken Company TKR
  • The Toro Company TTC
  • Wabash National WNC

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025December 16, 2025=◇◇◇
2024December 17, 2024=◇◇◇
2023December 14, 2023=◇◇◇
2022December 13, 2022=◇◇◇
2021December 14, 2021=◇◇◇
2020December 15, 2020=◇◇◇
2019December 17, 2019=◇◇◇
2018December 11, 2018=◇◇◇
2017December 12, 2017=◇◇◇
2016December 13, 2016=◇◇◇
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What this page does not include

Everything above is a fact Winnebago Industries disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Winnebago Industries 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.
347 figures on this page: 337 cited to the filing that reported them, 10 calculated from figures it prints.
337 cited to the filing
10 calculated from the filing

Documents cited

  1. 0000107687-25-000037
    Item 2 Advisory Approval of the Compensation of Named Executive Officers
  2. 0001140361-25-040336
    Director Compensation · Grants of Plan-Based Awards Table · Outstanding Equity Awards at Fiscal Year-End Table · Summary Compensation Table
  3. 0000107687-24-000035
    Item 2 Advisory Approval of the Compensation of Named Executive Officers
  4. 0000107687-23-000031
    Item 2 Advisory Approval of the Compensation of Named Executive Officers
  5. 0000107687-22-000029
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0000107687-21-000048
    Item 5.07 Submission of Matters to a Vote of Security Holders
  7. 0000107687-20-000049
    Item 2 - Advisory Approval Vote on Executive Compensation (the Say on Pay Vote)
  8. 0000107687-19-000031
    Item 2 - Advisory Approval Vote on Executive Compensation (the Say on Pay Vote)
  9. 0000107687-18-000031
    Item 2 - Advisory Approval Vote on Executive Compensation (the Say on Pay Vote)
  10. 0000107687-17-000122
    Item 2 - Advisory Approval Vote on Executive Compensation (the Say on Pay Vote).
  11. 0000107687-16-000146
    Item 2 - Advisory Approval Vote on Executive Compensation (the Say on Pay Vote)
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Winnebago Industries executive compensation, FY2023–FY2025.” https://intel.velarion.ai/comp/WGO (accessed 2026).
Short form: data: Velarion

The paid brief for Winnebago Industries

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.
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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Peers Winnebago Industries discloses

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

American AxleCrane Co.Dana IncorporatedDonaldson Company, Inc.Harley-Davidson, Inc.LCI IndustriesOshkosh CorporationPatrick IndustriesPolarisThe Timken CompanyThe Toro CompanyWabash National

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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