WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP
For the period ended May 12, 2026. Filed Mar 31, 2026.
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May 12, 2026 · Filed Mar 31, 2026
Contents
Summary Compensation Table
| Name and Principal Position | Year | Salary ($) | StockAwards ($)1 | Non-EquityIncentive PlanCompensation($)2 | Change in Pension Value and Non-Qualified Deferred CompensationEarnings($)3 | AllOtherCompensation($)5 | Total($) |
|---|---|---|---|---|---|---|---|
| Rafael SantanaPresident and Chief Executive Officer | 2025 | 1,400,000 | 20,027,022 | 4,724,580 | 29,859 | 26,181,461 | |
| 2024 | 1,325,000 | 14,988,497 | 4,637,500 | 23,322 | 20,974,319 | ||
| 2023 | 1,325,000 | 10,655,185 | 3,485,178 | 27,877 | 15,493,240 | ||
| John OlinExecutive Vice President and Chief Financial Officer | 2025 | 810,000 | 3,657,612 | 1,562,004 | 5,669 | 34,761 | 6,070,046 |
| 2024 | 785,000 | 3,476,770 | 1,570,000 | 5,953 | 28,224 | 5,865,948 | |
| 2023 | 765,000 | 2,523,752 | 1,257,623 | 2,427 | 30,597 | 4,579,399 | |
| David L. DeNinnoExecutive Vice President, General Counsel and Secretary | 2025 | 705,000 | 2,325,771 | 1,359,522 | 64,153 | 4,454,446 | |
| 2024 | 680,000 | 1,827,157 | 1,360,000 | 60,123 | 3,927,280 | ||
| 2023 | 650,000 | 1,388,053 | 854,855 | 56,846 | 2,949,754 | ||
| Pascal Schweitzer4President, Transit | 2025 | 712,318 | 2,172,731 | 1,373,635 | 258,965 | 4,517,649 | |
| 2024 | 600,813 | 1,674,126 | 1,201,625 | 184,064 | 3,660,629 | ||
| 2023 | 581,478 | 1,716,155 | 1,025,795 | 398,159 | 3,754,634 | ||
| Eric GebhardtExecutive Vice President and Chief Technology Officer | 2025 | 665,000 | 1,659,943 | 1,282,386 | 185,648 | 3,792,978 | |
| 2024 | 645,000 | 1,472,211 | 1,290,000 | 93,391 | 3,500,602 | ||
| 2023 | 625,000 | 858,130 | 1,027,470 | 36,110 | 2,546,710 |
(1)Reflects the aggregate grant date fair value dollar amount computed in accordance with FASB ASC Topic 718 (“ASC 718”), excluding the effect of estimated forfeitures, related to the awards of a) restricted stock made to the named executive officers in each year under the 2011 Stock Incentive Plan; and b) performance units granted to the named executive officers in each year for the applicable performance period. The assumptions used in the calculation of these amounts are disclosed in Note 13 to the Consolidated Financial Statements included in our fiscal year 2025 Annual Report on Form 10-K. The value of the 2025 performance units awards set forth in the table above is based on probable achievement of the applicable target performance goals. The value of that award based on achievement of maximum performance level would be: for Mr. Santana – $24,032,353; for Mr. Olin – $4,389,135; for Mr. DeNinno – $2,791,000; for Mr. Schweitzer – $2,607,425; and for Mr. Gebhardt – $1,991,932.
(2)Reflects amounts earned by the named executive officers for fiscal years 2025, 2024, and 2023 under Wabtec’s annual incentive award plan. Payment of bonuses earned for 2025 performance was made in March 2026.
(3)Amount disclosed for Mr. Olin represents the above-market earnings on his 2025 account balance under the deferred compensation plan for deferrals made on or prior to 2023, which earned a return for the year based on the prime rate plus 1%, (total of 8.5%). Please see the Nonqualified Deferred Compensation below for additional details with respect to the earnings potential under our current deferred compensation plan policy.
(4)For Mr. Schweitzer, all compensation amounts paid in CHF were converted to U.S. dollars using the exchange rate in effect as of the last day of the fiscal year (1.2659 CHF/USD).
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| Table of Contents | Executive Compensation Tables |
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(5)The following table sets forth a detailed breakdown of the items which compose “All Other Compensation” for each named executive officer in 2025:
| Relocationa($) · Tax Paymentsb($) · PensionContribution($) · Social,HealthClub Duesand OtherPerks($) · CompanyMatchingContributionto 401(k)Plan($) · ImputedGroupTerm LifeInsurancePremiumPayments($) · ExecutivePhysicals($) | ||||||||
|---|---|---|---|---|---|---|---|---|
| Rafael Santana | 2025 | 0 | 0 | 0 | 0 | 21,000 | 2,622 | 6,237 |
| John Olin | 2025 | 0 | 0 | 0 | 0 | 21,000 | 7,524 | 6,237 |
| David L. DeNinno | 2025 | 0 | 0 | 0 | 13,432 | 21,000 | 23,484 | 6,237 |
| Pascal Schweitzer | 2025 | 0 | 74,832 | 166,512 | 17,620 | 0 | 0 | 0 |
| Eric Gebhardt | 2025 | 72,110 | 87,664 | 0 | 0 | 21,000 | 4,874 | 0 |
(a)The amount of $72,110 represents the aggregated incremental costs to us for benefits provided under our standard company relocation program related to Mr. Gebhardt’s relocation in 2025 including moving and closing costs.
(b)Prior to 2024 Mr. Schweitzer was an expatriate and provided additional annual benefits tied to his assignment. While the majority of those benefits have ceased, Mr. Schweitzer continues to be provided with any trailing tax equalization assistance to eliminate any adverse tax impact due to his overseas assignment. For Mr. Gebhardt, $46,785 represents the amount to cover taxes on non-cash relocation benefits, plus $40,879 to make him whole on certain Pennsylvania state taxes required due to business travel.
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