Build-A-Bear Workshop (NYSE: BBW) runs experience-based retail stores where guests assemble their own stuffed animals. This teardown uses Build-A-Bear’s proxy statement filed April 30, 2026 and the most recent proxies of seven US-listed companies chosen by business model: toy and collectibles makers Funko and JAKKS Pacific, and specialty retailers with a proprietary product, Zumiez, Tilly’s, Citi Trends, Duluth Holdings and Lovesac. Market capitalization was not the screen, although the group sits close in size, from $136.4 million (Tilly’s) to $429.9 million (Citi Trends), against Build-A-Bear’s approximately $314.5 million as of October 12, 2026.
The CEO number
Sharon John, Build-A-Bear’s CEO from June 2013 until her retirement on June 11, 2026, had a fiscal 2025 Summary Compensation Table total of $3,396,235 for the year ended January 31, 2026. The peer median is $4,620,258 (Duluth Holdings), which puts Build-A-Bear at 73.5% of the median, below five peers and above two. The range runs from $1,749,159 (Zumiez) to $9,958,012 (JAKKS Pacific).
The composition is balanced rather than equity-heavy. Salary was $807,869, restricted stock $1,580,077 and the annual cash incentive $968,536, paid at 100% of its base payout on fiscal 2025 revenue of $529.8 million. Stock awards are 46.5% of the total, against 91% for the Funko CEO and 69% for the Tilly’s CEO, while the Zumiez and Citi Trends CEOs received no equity grant in the year. Equity values are grant-date fair values under ASC Topic 718, not realized pay.
The CFO package, and the successor’s terms
The second finding is the finance seat. CFO Voin Todorovic’s fiscal 2025 total was $1,301,978: salary $491,777, restricted stock $450,021 and a cash incentive of $333,241. The peer CFO median is $1,481,143 (Citi Trends), so Build-A-Bear sits at 87.9% of it, below four peers and above three. An 8-K filed June 12, 2026 discloses that Todorovic added the Chief Administrative Officer title the day John retired, with a base salary of not less than $500,000 and a bonus target of not less than 70% of base.
The successor’s terms are also on file. An 8-K filed March 12, 2026 discloses that J. Christopher Hurt, chief operations officer since 2015 with a fiscal 2025 total of $1,300,280, became CEO on June 11, 2026 with a base salary of not less than $700,000, a bonus target of no less than 100% of base, and an anticipated 2026 long-term incentive award of $1,200,000, 70% performance-based restricted stock and 30% time-based, subject to final board approval. Those three disclosed pieces add to $2,600,000 at target.
How to read this
Three of the seven peer CEOs were appointed during the year: Funko’s on September 1, 2025, Tilly’s on August 18, 2025 and Duluth’s on May 5, 2025. Their totals combine partial-year salaries with sign-on or initial equity grants, which lifts the top of the range. With those three set aside, the median of the remaining four is $3,433,826, within 1.1% of John’s total. “Below median” and “at median” are both accurate readings, and the difference is one construction choice. Shareholders approved the pay package on June 11, 2026 with 94.6% of votes cast for or against.
Sources (DEF 14A unless noted): Build-A-Bear 0001437749-26-013976, plus 8-Ks 0001437749-26-007825, 0001437749-26-020380 and 0001437749-26-020370; Funko 0001704711-26-000026; JAKKS Pacific 0001185185-26-001465; Zumiez 0001193125-26-177072; Tilly’s 0001628280-26-025880; Citi Trends 0001104659-26-053458; Duluth Holdings 0001193125-26-165206; Lovesac 0001308179-26-000324.
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