Dollar General management check
DG · Consumer Staples · Consumer Staples Merchandise Retail · CEO Todd J. Vasos
Filings as of
3 good · 2 to watch · 1 flagged, across the seven questions below.
- Flag
Have owners done well?
Trailed its chosen peers$100 invested at the start of fiscal 2022 grew to $80, against $209 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.76 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Good
What does the CEO cost owners?
0.5% of net income$8.2m of reported pay in fiscal 2026, against $1.5bn of net income.
- n/a
Do they own the stock?
No recent CEO filingLight activity: no buys, $733k sold in six months.
- Watch
Are owners being diluted?
Share count growingDiluted shares changed +0.2% a year over the last three fiscal years. Stock-based pay was 0.2% of revenue in the latest year.
- Watch
Is leadership stable?
10 leadership filings in 3 yearsCEO in the pay table: Todd J. Vasos. 10 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Consumer Staples.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 0 | 31 | |
| Pay for performance | 88 | 84 | |
| CEO cost | 72 | 40 | |
| Skin in the game | — | — | 65 |
| Dilution | 48 | 60 | |
| Stable leadership | 75 | 70 | |
| Clean books | 100 | 100 |
Closest peers
Others in Consumer Staples Merchandise Retail, by management score. Dollar General is 17th of 33 in its sector.
- 37WMTWalmart83
- 71COSTCostco78
- 255BGBunge Global64
- 259DGDollar General64
- 291TGTTarget Corporation62
- 334DLTRDollar Tree59
Pay versus performance
From the proxy statement filed April 7, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2026 | Todd J. Vasos | $8.2m | $19.5m | $7.4m | $80 | $209 | $1.5bn |
| 2025 | — | $2.2m | −$5.7m | $3.0m | $39 | $190 | $1.1bn |
| 2024 | — | $9.0m | −$24.3m | $2.3m | $72 | $136 | $1.7bn |
| 2023 | — | $15.6m | $34.6m | $3.5m | $119 | $120 | $2.4bn |
| 2022 | — | $16.6m | $30.8m | $3.9m | $106 | $119 | $2.4bn |
The board says pay is tied most to Adjusted EBIT. Its other key measures: Net Sales, Adjusted EBITDA, Adjusted ROIC.
Insiders and the CEO's stake
Light activity: no buys, $733k sold in six months.
- SoldKathleen A ReardonEVP & Chief People Officer$733kSep 3, 2026
Leadership and governance on file
- Aug 28, 2026Leadership change8-K 5.02
- Mar 24, 2026Leadership change8-K 5.02
- Feb 3, 2026Leadership change8-K 5.02
- Nov 17, 2025Leadership change8-K/A 5.02
- Nov 13, 2025Leadership change8-K 5.02
- Aug 20, 2025Leadership change8-K 5.02
- Jul 16, 2025Leadership change8-K 5.02
- Aug 29, 2024Leadership change8-K 5.02
- Aug 14, 2024Leadership change8-K 5.02
- Apr 8, 2024Leadership change8-K 5.02
- Oct 12, 2023Leadership change8-K 5.02
- Jun 29, 2023Leadership change8-K 5.02
Latest shareholder vote results: Jun 2, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $7.7bn returned to owners in buybacks and dividends, 85% of net income, and $353.0m of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $34.2bn | $37.8bn | $38.7bn | $40.6bn | $42.7bn |
| Net income | $2.4bn | $2.4bn | $1.7bn | $1.1bn | $1.5bn |
| Stock-based pay | $78.2m | $72.7m | $51.9m | $58.7m | $91.5m |
| Buybacks | $2.5bn | $2.7bn | — | — | — |
| Dividends | $392.2m | $493.7m | $518.0m | $519.0m | $519.5m |
| Diluted shares | 236m | 226m | 220m | 220m | 221m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.