CompBrief BY VELARION

Companies Excelerate Energy, Inc.

Excelerate Energy (EE): executive pay, fiscal 2025

Free brief. Every figure links to the company’s own filing.

Email me Excelerate Energy, Inc.’s executive pay brief as a PDF

It arrives in about 2 minutes, with every figure cited to its filing.

After the PDF, up to three short notes on the deeper reports for this company. Reply “unsubscribe” to any of them, any time.

CEO total pay$6,104,814CEO Steven Kobos · source
Say-on-pay support99.68%Latest vote · source
CEO vs. named peers56th pct.Of 13 peer CEOs

CEO pay, last three years

  • $4,081,744FY2023
  • $5,438,007FY2024
  • $6,104,814FY2025

CEO total pay was $6,104,814 in fiscal 2025, up from $5,438,007 in fiscal 2024.

FY2025: salary $850,000 · bonus $0 · stock awards $3,988,484 · option awards $0

Order EE

Add the email the receipt and the PDF go to, then press the report you want. Each button opens its own card payment on Stripe.

Receipt, invoice, and report delivery. Guest checkout, no account required, secure payment by Stripe.

Executives and directors

Full detail

Every table from the filing. Open any section.

Summary compensation table
Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Steven Kobos$850,000$0$3,988,484$0$1,250,350$0$15,980$6,104,814
President and Chief Executive Officer
Dana Armstrong475,00101,372,3790516,920014,6902,378,990
EVP & Chief Financial Officer
David Liner480,00001,115,8350494,260024,2702,114,365
EVP & Chief Operating Officer
Oliver Simpson460,0000864,7190439,830024,3721,788,922
EVP & Chief Commercial Officer
Alisa Newman Hood470,0000726,1690477,380014,6901,688,240
EVP & General Counsel

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Steven Kobos$6,104,814$5,438,007$4,081,744↑ +666,807
Dana Armstrong2,378,9901,758,3611,441,956↑ +620,629
David Liner2,114,3651,517,0331,128,576↑ +597,332
Oliver Simpson1,788,9221,594,863—↑ +194,059
Alisa Newman Hood1,688,2401,320,1481,199,372↑ +368,092

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

Incentive-plan design — the Compensation Discussion & Analysis

Our executive compensation programs are designed to attract, retain, incentivize and reward talented leaders with the skills and experience necessary to successfully execute on our business plans and objectives. We further seek to align our executive’s incentives with those of our stockholders and to provide pay levels commensurate with both individual and Company performance, while mitigating excessive risk-taking and protecting stockholder value.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantFW Cook
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
Equity grants and outstanding awards

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Dana ArmstrongPSU2025-03-054,6939,386—18,772$407,634
Alisa Newman HoodPSU2025-03-276271,253—2,50639,432
Steven KobosPSU2025-03-0513,37126,741—53,4821,161,362
David LinerPSU2025-03-053,8737,745—15,490336,365
David LinerPSU2025-03-053,8737,745—15,490263,950
Oliver SimpsonPSU2025-03-053,1106,219—12,438270,091
Oliver SimpsonPSU2025-03-053,1106,219—12,438211,944
Dana ArmstrongPSU2025-03-054,6939,386—18,772319,875
Dana ArmstrongRSU2025-03-05——18,773—566,006
Alisa Newman HoodPSU2025-03-052,4924,983—9,966169,821
Alisa Newman HoodPSU2025-03-052,4924,983—9,966216,412
Steven KobosPSU2025-03-274,8199,637—19,274303,276
Steven KobosRSU2025-03-05——53,483—1,612,512
David LinerRSU2025-03-05——15,489—466,993
David LinerPSU2025-03-277711,542—3,08448,527
Oliver SimpsonPSU2025-03-27122244—4887,679
Oliver SimpsonRSU2025-03-05——12,438—375,006
Steven KobosPSU2025-03-0513,37126,741—53,482911,333
Dana ArmstrongPSU2025-03-271,2532,506—5,01278,864
Alisa NewmanRSU2025-03-05——9,967—300,505

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Dana Armstrong$566,006$806,373$058.8%
Alisa Newman Hood0425,6650100.0%
Steven Kobos1,612,5122,375,971059.6%
David Liner466,993648,842058.1%
Oliver Simpson375,006489,714056.6%
Alisa Newman300,505000.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Oliver SimpsonRSU707—$19,831
Oliver SimpsonRSU965—27,068
Oliver SimpsonRSU1,460—40,953
David LinerOption2,31224—
Alisa Newman HoodPSU2,492—69,887
NewmanRSU2,505—70,265
David LinerRSU3,084—86,506
Oliver SimpsonPSU3,110—87,221
Dana ArmstrongOption3,20024—
Oliver SimpsonOption3,55624—
Oliver SimpsonRSU3,630—101,822
Alisa Newman HoodRSU3,638—102,046
David LinerPSU3,873—108,624
David LinerRSU4,477—125,580
Dana ArmstrongPSU4,693—131,639
Alisa Newman HoodRSU4,961—139,156
Alisa Newman HoodPSU4,983—139,773
Dana ArmstrongRSU5,011—140,559
Oliver SimpsonPSU5,444—152,704
David LinerRSU6,105—171,245
Oliver SimpsonPSU6,219—174,443
Dana ArmstrongRSU7,276—204,092
David LinerPSU7,745—217,247
Steven KobosOption8,00024—
Dana ArmstrongPSU9,386—263,277
Alisa Newman HoodRSU9,451—265,101
Dana ArmstrongRSU9,922—278,312
Alisa Newman HoodRSU9,967—279,574
Oliver SimpsonRSU12,438—348,886
David LinerRSU13,342—374,243
Oliver SimpsonPSU13,342—374,243
Steven KobosPSU13,371—375,043
Alisa Newman HoodPSU14,176—397,637
David LinerRSU15,489—434,466
Oliver SimpsonRSU16,327—457,972
Dana ArmstrongRSU17,234—483,414
Dana ArmstrongRSU18,773—526,583
Steven KobosRSU19,272—540,580
David LinerPSU20,012—561,337
David LinerPSU20,014—561,393
Dana ArmstrongPSU25,850—725,093
Dana ArmstrongPSU25,852—725,149
Steven KobosPSU26,741—750,085
Steven KobosRSU27,983—784,923
Steven KobosRSU38,161—1,070,416
Steven KobosRSU53,483—1,500,198
Steven KobosRSU70,047—1,964,818
Steven KobosPSU105,070—2,947,214
Director compensation
DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Carolyn J. BurkeIndependent · Departed during FY$4,375$0——$270,017$274,392
Paul T. HanrahanIndependent99,806125,002——0224,807
Deborah L. ByersIndependent98,000125,002——0223,002
Nisha D. BiswalIndependent77,083135,420——0212,503
Steven M. KobosEmployee director—————0
Don P. MillicanNot independent · Board Chair——————
Robert A. WaldoIndependent——————
Tyler D. ToddIndependent——————

Board fee structure and ownership guideline

Annual cash retainer$75,000
Annual equity retainer$125,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)23,000 / 17,000 / 15,000
Stock ownership guideline$375,000

Total cost of the board

ComponentFY2025
Cash retainers and fees$279,264
Equity awards (grant-date value)$385,424
All other compensation$270,017
Total cost of the board$934,705

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

Peer group, and who names Excelerate Energy as a peer

Companies that benchmark against EE

1 company names EE as a compensation peer

Each company listed discloses EE in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named EE in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

Peer reciprocity

Of the companies Excelerate Energy, Inc. names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer’s own current proxy has been read — each mark is cited in the register to that peer’s filing. A dash means the peer’s current proxy was read and names no reciprocal group including Excelerate Energy, Inc..

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1DT Midstream, Inc.2025David Slater$852,203$6,282,371$0$1,839,938$9,328,071
2Oceaneering International, Inc.2025Roderick Larson910,0002,027,79604,282,4257,735,670
3Chart Industries, Inc.2024Jillian Evanko1,100,0004,378,4241,573,870565,7857,687,879
4Dorian LPG Ltd.2026John Hadjipateras750,0002,876,05101,359,3756,311,926
5Excelerate Energy, Inc.2025Steven Kobos850,0003,988,48401,250,3506,104,814
6Tidewater Inc.2025Quintin Kneen750,0003,892,45801,078,1255,732,208
7Oil States International, Inc.2025Cindy Taylor925,0002,400,00301,654,2445,079,386
8Helix Energy Solutions Group, Inc.2025Owen Kratz800,0003,838,5190420,0005,067,269
9International Seaways, Inc.2025Lois Zabrocky800,0002,618,15901,037,0004,505,569
10Green Plains Inc.2025Chris Osowski476,8082,234,9980686,0003,497,755
11New Fortress Energy Inc.2024Wesley Edens00000
—Equitrans Midstream Corporation——————not in coverage universe

Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Excelerate Energy, Inc.not disclosedRSU 50 · PSU 50not disclosedFW Cook
Chart Industries, Inc.38.1%not disclosedNoPay Governance
Dorian LPG Ltd.not disclosednot disclosednot disclosednot disclosed
DT Midstream, Inc.152.62%PSU 70 · RSU 30NoMeridian Compensation Partners LLC
Equitrans Midstream Corporationnot disclosednot disclosednot disclosednot disclosed
Green Plains Inc.98%PSU 50 · RSA 50NoPay Governance
Helix Energy Solutions Group, Inc.35%PSU 50 · RSU 50Yes — TSR relative to performance peer groupWTW (Willis Towers Watson)
International Seaways, Inc.not disclosednot disclosednot disclosednot disclosed
New Fortress Energy Inc.not disclosednot disclosednot disclosednot disclosed
Oceaneering International, Inc.124%not disclosedYes — Relative TSRMeridian Compensation Partners, LLC
Oil States International, Inc.not disclosedRSU 50 · PRSU 25 · Cash Performance Award 25not disclosedMeridian Compensation Partners
Tidewater Inc.not disclosednot disclosednot disclosedMeridian Compensation Partners, LLC

Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.

Say-on-pay history and pay ratio
Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-04110,046,028350,24010,78499.68%Passed
20252025-06-11100,737,54383,30913,20999.92%Passed
20242024-06-06101,788,302282,8371,103,70098.66%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.

Say-on-pay — history, company’s computation

Meeting yearMeeting dateApproval — company’s computation
20262026-06-0499.68%a
20252025-06-1199.92%b
20242024-06-0698.66%c

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

c. Approved under the standard stated in the filing — “Abstentions will have the same effect as a vote "Against" on the outcome of Proposal 2, and broker non-votes, if any, will have no effect on Proposal 2.”.

Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

Insider trades since the proxy

No insider equity transactions reported since the proxy statement.

Sources (59 citations)

Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.

  • Section 01, Steven Kobos. DEF 14A, filed 2026-04-16. Section “Summary Compensation Table”. As printed: 6,104,814. View filing ↗
  • Section 01, Dana Armstrong. DEF 14A, filed 2026-04-16. Section “Summary Compensation Table”. As printed: 2,378,990. View filing ↗
  • Section 01, David Liner. DEF 14A, filed 2026-04-16. Section “Summary Compensation Table”. As printed: 2,114,365. View filing ↗
  • Section 01, Oliver Simpson. DEF 14A, filed 2026-04-16. Section “Summary Compensation Table”. As printed: 1,788,922. View filing ↗
  • Section 01, Alisa Newman Hood. DEF 14A, filed 2026-04-16. Section “Summary Compensation Table”. As printed: 1,688,240. View filing ↗
  • Section 03, Dana Armstrong PSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Alisa Newman Hood PSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Steven Kobos PSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, David Liner PSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, David Liner PSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Oliver Simpson PSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Oliver Simpson PSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Dana Armstrong PSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Dana Armstrong RSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Alisa Newman Hood PSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Alisa Newman Hood PSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Steven Kobos PSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Steven Kobos RSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, David Liner RSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, David Liner PSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Oliver Simpson PSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Oliver Simpson RSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Steven Kobos PSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Dana Armstrong PSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Alisa Newman RSU. DEF 14A, filed 2026-04-16. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 08, Carolyn J. Burke. DEF 14A, filed 2026-04-16. Section “Director Compensation”. As printed: 274,392. View filing ↗
  • Section 08, Paul T. Hanrahan. DEF 14A, filed 2026-04-16. Section “Director Compensation”. As printed: 224,807. View filing ↗
  • Section 08, Deborah L. Byers. DEF 14A, filed 2026-04-16. Section “Director Compensation”. As printed: 223,002. View filing ↗
  • Section 08, Nisha D. Biswal. DEF 14A, filed 2026-04-16. Section “Director Compensation”. As printed: 212,503. View filing ↗
  • Section 08, Steven M. Kobos. DEF 14A, filed 2026-04-16. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 08, Don P. Millican. DEF 14A, filed 2026-04-16. Section “Director Compensation”. As printed: —. View filing ↗
  • Section 08, Robert A. Waldo. DEF 14A, filed 2026-04-16. Section “Director Compensation”. As printed: —. View filing ↗
  • Section 08, Tyler D. Todd. DEF 14A, filed 2026-04-16. Section “Director Compensation”. As printed: —. View filing ↗
  • Section 06, 2026 vote. Form 8-K, filed 2026-06-05. Item 5.07 · say-on-pay result. As reported: 99.68% (votes for as printed: 110,046,028). View filing ↗
  • Section 06, 2025 vote. Form 8-K, filed 2025-06-12. Item 5.07 · say-on-pay result. As reported: 99.92% (votes for as printed: 100,737,543). View filing ↗
  • Section 06, 2024 vote. Form 8-K, filed 2024-06-07. Item 5.07 · say-on-pay result. As reported: 98.66% (votes for as printed: 101,788,302). View filing ↗
  • Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
  • Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
  • Section 09b board cost (computed). Computed. Cash 279,264 + equity 385,424 + all other 270,017 = 934,705, summed across the director compensation table rows.
  • DT Midstream, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-26. CEO total compensation as printed in DT Midstream, Inc.'s own proxy. As printed: 9,328,071. View filing ↗
  • Oceaneering International, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in Oceaneering International, Inc.'s own proxy. As printed: 7,735,670. View filing ↗
  • Chart Industries, Inc., Section 10b CEO total. DEF 14A, filed 2025-04-08. CEO total compensation as printed in Chart Industries, Inc.'s own proxy. As printed: 7,687,879. View filing ↗
  • Dorian LPG Ltd., Section 10b CEO total. DEF 14A, filed 2026-07-27. CEO total compensation as printed in Dorian LPG Ltd.'s own proxy. As printed: 6,311,926. View filing ↗
  • Excelerate Energy, Inc. (subject), Section 10b CEO total. DEF 14A, filed 2026-04-16. CEO total compensation as printed in Excelerate Energy, Inc.'s own proxy. As printed: 6,104,814. View filing ↗
  • Tidewater Inc., Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in Tidewater Inc.'s own proxy. As printed: 5,732,208. View filing ↗
  • Oil States International, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-27. CEO total compensation as printed in Oil States International, Inc.'s own proxy. As printed: 5,079,386. View filing ↗
  • Helix Energy Solutions Group, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-01. CEO total compensation as printed in Helix Energy Solutions Group, Inc.'s own proxy. As printed: 5,067,269. View filing ↗
  • International Seaways, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-29. CEO total compensation as printed in International Seaways, Inc.'s own proxy. As printed: 4,505,569. View filing ↗
  • Green Plains Inc., Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in Green Plains Inc.'s own proxy. As printed: 3,497,755. View filing ↗
  • New Fortress Energy Inc., Section 10b CEO total. DEF 14A, filed 2025-04-29. CEO total compensation as printed in New Fortress Energy Inc.'s own proxy. As printed: 0. View filing ↗
  • Section 10a, Oil States International, Inc. reciprocity. DEF 14A. Oil States International, Inc.'s most recent proxy was read; its disclosed peer group does not include Excelerate Energy, Inc.. View filing ↗
  • Section 10a, DT Midstream, Inc. reciprocity. DEF 14A. DT Midstream, Inc.'s most recent proxy was read; its disclosed peer group does not include Excelerate Energy, Inc.. View filing ↗
  • Section 10a, International Seaways, Inc. reciprocity. DEF 14A. International Seaways, Inc. names Excelerate Energy, Inc. in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Helix Energy Solutions Group, Inc. reciprocity. DEF 14A. Helix Energy Solutions Group, Inc.'s most recent proxy was read; its disclosed peer group does not include Excelerate Energy, Inc.. View filing ↗
  • Section 10a, Tidewater Inc. reciprocity. DEF 14A. Tidewater Inc.'s most recent proxy was read; its disclosed peer group does not include Excelerate Energy, Inc.. View filing ↗
  • Section 10a, New Fortress Energy Inc. reciprocity. DEF 14A. New Fortress Energy Inc.'s most recent proxy was read; its disclosed peer group does not include Excelerate Energy, Inc.. View filing ↗
  • Section 10a, Green Plains Inc. reciprocity. DEF 14A. Green Plains Inc.'s most recent proxy was read; its disclosed peer group does not include Excelerate Energy, Inc.. View filing ↗
  • Section 10a, Oceaneering International, Inc. reciprocity. DEF 14A. Oceaneering International, Inc.'s most recent proxy was read; its disclosed peer group does not include Excelerate Energy, Inc.. View filing ↗
  • Section 10a, Dorian LPG Ltd. reciprocity. DEF 14A. Dorian LPG Ltd.'s most recent proxy was read; its disclosed peer group does not include Excelerate Energy, Inc.. View filing ↗
Get the full report — $500