For its y, The Associated Press used data provided by Equilar, an executive data firm.
Equilar examined regulatory filings detailing the pay packages of 337 executives. Equilar looked at companies in the S&P 500 index that filed proxy statements with federal regulators between Jan. 1 and April 30, 2026. To avoid the distortions caused by sign-on bonuses, the sample includes only CEOs in the job for at least two years.
To calculate CEO pay, Equilar adds salary, bonus, perks, stock awards, stock option awards and other pay components.
Stock awards can either be time-based, which means CEOs have to wait a certain amount of time to get them, or performance-based, which means they have to meet certain goals before getting them. Stock options usually give the CEO the right to buy shares in the future at the price they鈥檙e trading at when the options are granted. All are meant to tie the CEO鈥檚 pay to the company鈥檚 performance.
To determine what stock and option awards are worth, Equilar uses the value of an award on the day it鈥檚 granted, as recorded in the proxy statement. Actual values in the future can vary widely from what the company estimates.
Equilar calculated that the median 2025 pay for CEOs in the survey was $17.7 million. That鈥檚 the midpoint, meaning half the CEOs made more and half made less.
Here鈥檚 a breakdown of 2025 pay compared with 2023 pay. Because the AP looks at median numbers, the components of CEO pay do not add up to the total.
鈥擝ase salary: $1.3 million, up 3.9%
鈥擝onus, performance-based cash awards: $2.7 million, up 10.1%
鈥擯erks: $310,369, up 17.7%
鈥擲tock awards: $10.9 million, up 11.5%
鈥擮ption awards: $0 (More than half of the companies gave no option awards. The average option award was valued at $2.5 million.)
鈥擳otal: $17.7 million, up 5.9%
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