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GRANITE CONSTRUCTION INC

GVA · FY2025

MISALIGNED

CEO Package

$9.9M

Pay Ratio

—

Kyle T. Larkin

Pay rose +27.6% while TSR fell -40.9 pts

Ferrovial SE

FER · FY2024

MIXED

CEO Package

$5.5M

Pay Ratio

—

Ignacio Madridejos

Awaiting a fuller pay-performance history

STERLING INFRASTRUCTURE, INC.

STRL · FY2025

ALIGNED

CEO Package

$8.4M

Pay Ratio

—

Joseph A. Cutillo

Pay fell roughly in step with TSR

CEOTotal Compensation — All Companies

GVA$9.9MFER$5.5MSTRL$8.4M

All values are grant-date fair value as reported in proxy statements.

Key Differences

The fastest way to read this comparison before dropping into the tables.

GVA carries the largest package at $9.9M, about 1.8x FER.
GVA reads misaligned, while STRL looks aligned.

Pay Component Breakdown

Latest CEO package mix by company. This stays on the CEO package even if the chart above is showing Top 5 pay.

GVA

Kyle T. Larkin

$9.9M

base salary10%
stock awards73%
non-equity incentive compensation16%
other compensation1%

FER

Ignacio Madridejos

$5.5M

base salary26%
stock awards35%
other compensation1%

STRL

Joseph A. Cutillo

$8.4M

base salary13%
stock awards56%
non-equity incentive compensation30%
other compensation1%

Quick Comparison

CompanyCEOLatest YearTotal Comp
GRANITE CONSTRUCTION INC(GVA)Kyle T. Larkin2025$9.9M
Ferrovial SE(FER)Ignacio Madridejos2024$5.5M
STERLING INFRASTRUCTURE, INC.(STRL)Joseph A. Cutillo2025$8.4M

Note: All compensation values shown are grant-date fair value as reported in proxy statements. Direct comparisons should account for differences in company size, industry, and compensation structure.

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