Tractor Supply approves retention equity awards for CEO Harry Lawton
On November 5, 2025, Tractor Supply's independent directors approved retention equity awards for President and CEO Harry A. Lawton III, made up of a performance share unit award with a $12,000,000 target grant date value and a restricted share unit award with an $8,000,000 grant date fair value. The filing says the awards extend vesting periods to retain Mr. Lawton, and the board also approved a temporary waiver allowing him to serve on two outside boards. The company also declared a $0.23 per share quarterly dividend.
Key points
- Performance share units with a $12,000,000 target grant date value vest February 5, 2031, based on total shareholder return relative to S&P 500 constituents from January 1, 2026 through December 31, 2030
- Restricted share units with an $8,000,000 grant date fair value vest in equal installments on the third, fourth and fifth anniversaries of the grant date
- Board temporarily waived the director service limit in Mr. Lawton's December 4, 2019 employment agreement to allow service on two outside boards
- Quarterly cash dividend of $0.23 per share is payable December 9, 2025, to holders of record as of November 24, 2025
The filing
Written by AI on Nov 8, 2026, 12:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 05, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.