Laura G. Scheland
About Laura G. Scheland
Laura G. Scheland, 46, is Vice President & General Manager of ODC’s Consumer Products Division (since Dec 2024); she previously served as Chief Legal Officer and VP & GM (Nov 2023–Dec 2024), VP Strategic Partnerships & General Counsel & Secretary (Sep 2022–Oct 2023), VP, General Counsel & Secretary (Dec 2017–Sep 2022), and Assistant General Counsel & Assistant Secretary (Apr 2013–Nov 2017) . Company performance metrics that drive incentive pay are centered on adjusted pre-tax, pre-bonus income; for FY2025 this reached $79.174M and GAAP net income was $53.996M, while ODC’s $100 TSR tracker rose to $350.93 over the SEC-covered period, underpinning above-target payouts to NEOs including Scheland .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Oil-Dri Corporation of America | VP & GM, Consumer Products Division | Dec 2024–Present | Leads Consumer Products execution and growth; eligible for corporate performance-based incentives . |
| Oil-Dri Corporation of America | Chief Legal Officer and VP & GM; Secretary | Nov 2023–Dec 2024 | Combined legal leadership with P&L role; board/secretarial governance responsibilities . |
| Oil-Dri Corporation of America | VP, Strategic Partnerships and General Counsel & Secretary | Sep 2022–Oct 2023 | Drove partnerships strategy alongside legal and governance . |
| Oil-Dri Corporation of America | VP, General Counsel & Secretary | Dec 2017–Sep 2022 | Led legal and corporate secretary functions . |
| Oil-Dri Corporation of America | Assistant General Counsel & Assistant Secretary | Apr 2013–Nov 2017 | Supported legal affairs and governance . |
External Roles
No external public company directorships or outside roles are disclosed in ODC’s proxy biographies for Scheland .
Fixed Compensation
| Metric | FY 2024 | FY 2025 |
|---|---|---|
| Base Salary ($) | $350,000 | $362,000 |
| Perquisites ($) | — | $5,000 (directed charitable donations) |
| 401(k) Company Match ($) | — | $21,905 |
| Deferred Comp Matching ($) | — | $10,800 |
Performance Compensation
| Component | Metric | Target Opportunity (% of Base) | FY2025 Payout (% of Target) | FY2025 Payout Mechanics | Vesting |
|---|---|---|---|---|---|
| Cash Incentive Award | Adjusted pre-tax, pre-bonus income vs budget | 40% | 139.4% | Corporate-only metric; payout capped at 200% | Paid after fiscal year-end . |
| Executive Deferred Bonus Award | Adjusted pre-tax, pre-bonus income vs budget | 20% | 139.4% | Earned on same metric; deferred account accrues interest at LT borrowing +1% | Lump-sum after 3 years (Jul 31, 2028), subject to continued employment; accelerated on death/disability/CIC . |
FY2025 plan calibration: Threshold/Target/Max for Cash Incentive aligned to ~78%/100%/130% of budget; for Executive Deferred to ~93%/100%/130%; actual adjusted pre-tax, pre-bonus income was $79.174M (above target) driving 139.4% of target payouts .
Grants of plan-based awards (FY2025): Cash Incentive Award threshold/target/max dollar levels ($36,200/$144,800/$289,600) and Executive Deferred Bonus Award threshold/target/max ($54,300/$72,400/$144,800); restricted stock grant of 7,000 common shares on Oct 19, 2024 (grant-date fair value $239,540) .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total Beneficial Ownership | 37,680 common shares; <1% of outstanding . |
| Class B Ownership | None (only CEO holds Class B among NEOs/directors) . |
| Unvested RS (as of Jul 31, 2025) | 25,000 common shares; market value $1,410,000 at $56.40/share . |
| RS Vesting Schedule | 10,000 on Oct 19, 2025; 8,000 on Oct 19, 2027; 7,000 on Oct 19, 2028 . |
| Options | None held; no option grants in reported years . |
| Deferred Comp Balance (Exec Plan) | $87,751 aggregate balance; FY2025 contributions $23,175; company match $10,800; earnings $4,000 . |
| Hedging/Pledging | Prohibited for execs; exceptions only with prior approval. No approvals to date other than CEO pledge; thus no pledging by Scheland . |
| Ownership Guidelines | Company has no formal executive stock ownership guidelines; equity awards provide meaningful ownership . |
Stock ownership reporting date counts: 10,373,180 common shares outstanding (record date Oct 13, 2025) for percentage context .
Employment Terms
| Provision | Terms |
|---|---|
| Employment/Severance Agreement | None; no guaranteed term of employment . |
| Change-in-Control (CIC) | Immediate vesting of restricted stock and Executive Deferred Bonus account upon CIC/death/disability; CIC generally defined as loss of ≥50% voting control by Class B owners . |
| Retirement Accelerated Vesting | Possible if Committee approves and “Rule of 80” met (age + years of service ≥80) with ≤20% continued service threshold . |
| Clawback | Dodd-Frank-compliant policy recovers incentive comp tied to financial reporting measures (including stock price/TSR) for restatements within prior 3 fiscal years, faultless recoupment . |
| Non-Compete/Non-Solicit | Not disclosed in proxy . |
| CIC/Termination Economics (Illustrative at 7/31/2025) | Executive Deferred Bonus account $237,572; unvested RS market value $1,410,000; total $1,647,572 (upon CIC/death/disability) . |
Compensation Structure Analysis
- Pay mix includes base, annual cash incentive (corporate metric only), and multi-year restricted stock; deferred bonus component increases retention via 3-year cliff vesting, with interest at LT borrow rate +1% .
- Company did not benchmark executive comp in FY2025; historically used peer benchmarking (Semler Brossy in FY2023) but eschews strict percentile targeting to preserve discretion .
- No pension or option overhang; perquisites modest; no tax gross-ups under 280G/409A; caps and clawback mitigate risk-taking .
- FY2025 payouts at 139.4% of target reflect strong corporate performance on the single financial measure, indicating tight pay-performance linkage at the corporate level .
Say-on-Pay & Shareholder Feedback
- FY2023 say-on-pay approval was 97.7%, signaling strong shareholder support for the executive compensation program structure .
Performance & Track Record
| Metric | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Net Income ($) | $5,674,097 | $29,551,441 | $39,425,959 | $53,996,333 |
| Adjusted Pre-Tax, Pre-Bonus Income ($) | $17,404,400 | $47,750,600 | $65,367,700 | $79,174,000 |
| TSR – $100 Initial Value | $87.71 | $188.86 | $199.30 | $350.93 |
Note: Corporate-level performance is the basis for Scheland’s incentive pay; ODC uses adjusted pre-tax, pre-bonus income as the “company-selected measure” for pay-versus-performance disclosure .
Risk Indicators & Red Flags
- Hedging/short sales/pledging generally prohibited; no pledging approvals beyond CEO (reduces alignment risk concerns for Scheland) .
- No repricing of equity awards; no guaranteed employment or excessive perquisites; clawback in place .
- Related party transactions disclosed involve other executives/directors; none specific to Scheland .
Compensation Committee Analysis
- Compensation Committee members: Ellen-Blair Chube (Chair), Allan H. Selig, Michael A. Nemeroff; controlled company status allows one non-independent member (Nemeroff) and lack of a formal charter .
Equity Award Details
| Grant | Date | Shares | Grant-Date Fair Value ($) | Vesting |
|---|---|---|---|---|
| RS – Common | Oct 19, 2024 | 7,000 | $239,540 | Cliff vest Oct 19, 2028 (per FY2025 grants section, vesting described for other NEOs; Scheland’s unvested schedule totals 25,000 across multiple tranches) . |
| Unvested RS (All) | As of Jul 31, 2025 | 25,000 | $1,410,000 (at $56.40 price) | 10/19/2025: 10,000; 10/19/2027: 8,000; 10/19/2028: 7,000 . |
Multi-Year Compensation (Scheland)
| Year | Salary ($) | Stock Awards ($) | Non-Equity Incentive ($) | All Other Compensation ($) | Total ($) |
|---|---|---|---|---|---|
| 2025 | $362,000 | $239,540 | $302,777 | $64,483 | $968,800 |
All Other Compensation details (2025): perqs $5,000; dividends on unvested RS $14,415; interest on Executive Deferred Bonus $12,363; 401(k) match $21,905; deferred comp match $10,800 .
Employment & Contracts Summary
- No individual employment or severance agreement; CIC/death/disability triggers immediate vesting of equity and deferred bonus; retirement acceleration subject to committee approval and “Rule of 80” .
- Deferred bonus plan and deferred compensation plan carry clear distribution/vesting, interest accrual, and CIC termination provisions .
Investment Implications
- Alignment: Scheland’s incentives are fully tied to a single corporate profitability metric with capped payouts and a 3-year deferred bonus component, promoting retention and long-term focus; absence of options reduces leverage risk while meaningful RSU holdings provide skin-in-the-game .
- Retention risk and trading signals: Upcoming RS vesting tranches (8,000 on Oct 19, 2027; 7,000 on Oct 19, 2028) and a deferred bonus payable on Jul 31, 2028 may create episodic selling pressure around those dates; hedging/pledging prohibitions mitigate alignment concerns .
- CIC economics: Immediate vesting of equity and deferred bonuses could result in ~$1.65M value realization based on FY2025 balances—moderate change-of-control exposure without cash severance commitments (no employment/severance agreements) .
- Governance comfort: Strong say-on-pay support (97.7%), clawback adoption, and capped plan design indicate shareholder-friendly compensation oversight despite controlled-company exemptions on committee independence .