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Get filing alertsStar Group raises CEO salary 41% to $750K, citing market alignment
Filed July 17, 2026 · Period ending July 16, 2026 · ~1 min read
Key Changes
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CEO Jeffrey Woosnam's annual salary increases from $531,742 to $750,000 effective August 1, 2026, a 41% raise the board says aligns compensation with market rates and reflects his leadership.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
Summary
Star Group's board approved a substantial salary increase for CEO Jeffrey Woosnam, raising his annual compensation 41% from $531,742 to $750,000 effective August 1, 2026. The board characterized the adjustment as bringing Woosnam's pay to market-competitive levels and recognizing his performance in executing the company's strategic objectives. The decision was made in executive session without Woosnam's participation.
For retail holders, a 41% executive pay increase warrants scrutiny of whether the company's operational and financial performance justifies the adjustment. The board's market-alignment rationale suggests the prior compensation may have lagged peers, but investors should assess whether shareholder returns and business results support the new level. The increase will flow through SG&A and modestly compress margins in a capital-intensive heating oil distribution business.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 20, 2026 · How we verify