Stephenson will earn $6.8 million in 2026 after winning his arbitration hearing against the Reds, Gordon Wittenmyer of The Cincinnati Enquirer reports.
The two sides went to a hearing despite just a $250,000 difference in their submitted arbitration figures, and the three-person panel ultimately picked Stephenson's filing. Stephenson put up a .737 OPS with 13 home runs over 88 regular-season contests for the Reds this past season and will be their top catcher again in 2026. He is slated to reach free agency next offseason.