CEO Salary & Executive Compensation
Garmin GRMN
CEO: Cliff Pemble · Consumer Electronics · 20,000 employees
Cliff Pemble, CEO of Garmin (GRMN), earned $8.0M in total compensation in 2025. Garmin receives a Pay-for-Performance grade of A (86/100), with a CEO-to-worker pay ratio of 62:1 and a say-on-pay shareholder approval of 90.3%. The company's 3-year total shareholder return is +31.3%.
How Garmin CEO Pay Compares
Cliff Pemble's $8.0M total compensation is 0% below the Consumer Electronics industry median of $8.0M. The 62:1 CEO-to-worker pay ratio is 1% lower than the industry average of 62:1.
Total compensation for Cliff Pemble at Garmin (GRMN) was $8.0M. Mid-cap public-company CEO packages tend to track this pattern — equity-heavy, multi-year vesting, performance-tied.
The CEO-to-median-worker pay ratio runs 62x. Lower ratios typically reflect companies with higher-paid workforces (financial services, technology, professional services) where the median worker pay denominator is itself substantial. Performance has been positive over the three-year window: TSR of 31.3% alongside 17.7% revenue growth. Compensation packages tied to relative TSR or absolute return benchmarks would have vested at or near target levels with this performance profile.
Shareholders supported the compensation package at 90% on the most recent say-on-pay vote. Solid support without overwhelming endorsement is the typical pattern for established public companies with conventional compensation programs. Garmin operates in Consumer Electronics with 20,000 employees and $5.9B in annual revenue, and currently carries a market capitalization of $35.0B. Pay comparisons across companies require controlling for these structural factors — a $20M package at a $10B-revenue tech company reads differently than the same package at a $1B-revenue industrial.
Source: SEC EDGAR — DEF 14A proxy statements for Garmin (GRMN).
Compensation Breakdown
Cliff Pemble's $8.0M total compensation package for fiscal year 2025 includes $800K in base salary, $4.0M in stock awards, $960K in option awards, and $1.2M in bonus and non-equity incentives.
Compensation History
| Year | Salary | Bonus | Stock Awards | Options | Non-Equity | Other | Total |
|---|---|---|---|---|---|---|---|
| 2025 | $800K | - | $4.0M | $960K | $1.2M | $880K | $8.0M |
| 2024 | $800K | - | $4.0M | $960K | $1.2M | $880K | $8.0M |
| 2023 | $800K | - | $4.0M | $960K | $1.2M | $880K | $8.0M |
| 2022 | $800K | - | $4.0M | $960K | $1.2M | $880K | $8.0M |
All compensation data is sourced from SEC DEF 14A proxy filings submitted to EDGAR. The Economic Policy Institute's CEO pay analysis provides additional context on executive compensation trends across industries.
Named Executive Officers
Cliff Pemble, CEO of Garmin (GRMN), earns $8.0M in total compensation. This includes base salary, stock awards, option awards, and other incentives as reported in the company's most recent DEF 14A proxy statement.
Frequently Asked Questions
Cliff Pemble, CEO of Garmin (GRMN), earns $8.0M in total compensation. This includes base salary, stock awards, option awards, and other incentives as reported in the company's most recent DEF 14A proxy statement.
Garmin has a Pay-for-Performance Score of A (86/100). The company's 3-year total shareholder return is +31.3%, and the say-on-pay shareholder vote passed with 90.3% approval.
The CEO-to-median-worker pay ratio at Garmin is 62:1. The median worker at Garmin earns $130K per year, while CEO Cliff Pemble earns $8.0M in total compensation.
Garmin employs approximately 20,000 people. The company operates in the Consumer Electronics industry within the Technology sector, generating $5.9B in annual revenue.