Companies Liberty Energy Inc.
Liberty Energy (LBRT): executive pay, fiscal 2025
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CEO pay, last three years
- $2,968,292FY2023
- $3,062,538FY2024
- $4,793,487FY2025
CEO total pay was $4,793,487 in fiscal 2025, up from $3,062,538 in fiscal 2024.
FY2025: salary $591,282 · bonus $179,632 · stock awards $2,943,855 · option awards $0
Executives and directors
Frequently asked questions
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Christopher Wright | $80,481 | $0 | $16,630,644 | $0 | $0 | $0 | $4,829 | $16,715,954 |
| Former Chairman of the Board & Former Chief Executive Officer | ||||||||
| Ron Gusek | 591,282 | 179,632 | 2,943,855 | 0 | 1,057,718 | 0 | 21,000 | 4,793,487 |
| Chief Executive Officer & President | ||||||||
| Michael Stock | 460,916 | 127,926 | 2,309,449 | 0 | 753,260 | 0 | 21,000 | 3,672,551 |
| Chief Financial Officer & Treasurer | ||||||||
| R. Sean Elliott | 452,704 | 99,292 | 1,559,571 | 0 | 584,656 | 0 | 21,000 | 2,717,223 |
| Chief Legal Officer & Corporate Secretary | ||||||||
| Ryan Gosney | 339,846 | 90,000 | 1,270,474 | 0 | 529,943 | 0 | 21,000 | 2,251,263 |
| Chief Accounting Officer & Vice President of Finance | ||||||||
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 officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Christopher Wright | $16,715,954 | $5,836,488 | $5,628,100 | ↑ +10,879,466 |
| Ron Gusek | 4,793,487 | 3,062,538 | 2,968,292 | ↑ +1,730,949 |
| Michael Stock | 3,672,551 | 2,949,403 | 2,854,828 | ↑ +723,148 |
| R. Sean Elliott | 2,717,223 | 2,119,616 | 2,054,504 | ↑ +597,607 |
| Ryan Gosney | 2,251,263 | 1,515,264 | 1,435,029 | ↑ +735,999 |
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
The Company's compensation policy is designed to attract and retain highly qualified executive officers and seeks to align executive compensation with stockholder value on an annual and long-term basis through a combination of base pay, annual incentives, and certain long-term incentives.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | CBIZ Inc. |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Ron Gusek | RSU | 2025-01-22 | — | — | 52,085 | — | $1,154,724 |
| R. Sean Elliott | RSU | 2025-01-22 | — | — | 47,132 | — | 1,044,916 |
| Ron Gusek | PSU | 2025-02-03 | 40,842 | 81,683 | — | 163,366 | 1,471,928 |
| Ryan Gosney | PSU | 2025-01-22 | 14,327 | 28,653 | — | 57,306 | 635,237 |
| Ron Gusek | PSU | 2025-01-22 | 26,043 | 52,085 | — | 104,170 | 1,154,724 |
| R. Sean Elliott | PSU | 2025-01-22 | 11,607 | 23,214 | — | 46,428 | 514,654 |
| Christopher Wright | RSU | 2025-01-15 | — | — | 733,597 | — | 16,630,644 |
| Ryan Gosney | RSU | 2025-01-22 | — | — | 28,653 | — | 635,237 |
| Ron Gusek | RSU | 2025-02-03 | — | — | 81,683 | — | 1,471,928 |
| Michael Stock | PSU | 2025-01-22 | — | 52,085 | — | 104,170 | 1,154,724 |
| Michael Stock | RSU | 2025-01-22 | — | — | 52,085 | — | 1,154,724 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Ron Gusek | $2,626,652 | $2,626,652 | $0 | 50.0% |
| R. Sean Elliott | 1,044,916 | 514,654 | 0 | 33.0% |
| Ryan Gosney | 635,237 | 635,237 | 0 | 50.0% |
| Christopher Wright | 16,630,644 | 0 | 0 | 0.0% |
| Michael Stock | 1,154,724 | 1,154,724 | 0 | 50.0% |
% 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
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Ryan Gosney | RSU | 8,840 | — | $163,186 |
| R. Sean Elliott | RSU | 14,229 | — | 262,667 |
| Ron Gusek | RSU | 17,153 | — | 316,644 |
| Ryan Gosney | RSU | 17,782 | — | 328,256 |
| Ryan Gosney | PSU | 26,124 | — | 482,249 |
| Ryan Gosney | PSU | 26,274 | — | 485,018 |
| R. Sean Elliott | RSU | 27,431 | — | 506,376 |
| Ryan Gosney | RSU | 28,653 | — | 528,934 |
| Ron Gusek | RSU | 33,068 | — | 610,435 |
| R. Sean Elliott | PSU | 40,532 | — | 748,221 |
| R. Sean Elliott | PSU | 42,050 | — | 776,243 |
| R. Sean Elliott | PSU | 46,428 | — | 857,061 |
| R. Sean Elliott | RSU | 47,132 | — | 870,057 |
| Ryan Gosney | PSU | 57,306 | — | 1,057,869 |
| Ron Gusek | RSU | 81,683 | — | 1,507,868 |
| Ron Gusek | PSU | 99,204 | — | 1,831,306 |
| Ron Gusek | PSU | 102,914 | — | 1,899,792 |
| Ron Gusek | PSU | 163,366 | — | 3,015,736 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| William F. KimbleIndependent · Board Chair · Audit Committee (Chair) | $185,000 | $269,228 | $0 | — | $0 | $454,228 |
| Peter A. DeaIndependent · Compensation Committee (Chair) | 120,000 | 196,103 | 0 | — | 0 | 316,103 |
| Gale A. NortonIndependent · Nominating and Governance Committee (Chair) | 120,000 | 196,103 | 0 | — | 0 | 316,103 |
| Cary D. SteinbeckIndependent · Audit Committee · Compensation Committee | 117,500 | 196,103 | 0 | — | 0 | 313,603 |
| Simon AyatIndependent · Audit Committee | 110,000 | 196,103 | 0 | — | 0 | 306,103 |
| Ken BabcockIndependent · Compensation Committee | 107,500 | 196,103 | 0 | — | 0 | 303,603 |
| Arjun MurtiIndependent · Newly elected | 94,167 | 184,144 | 0 | — | 0 | 278,311 |
| Audrey RobertsonIndependent · Departed during FY | 75,000 | 165,802 | 0 | — | 0 | 240,802 |
| Alice YakeIndependent · Partial-year service · Newly elected | 21,389 | 37,324 | 0 | — | 0 | 58,713 |
| James R. McDonaldIndependent · Compensation Committee | 0 | 0 | 0 | — | 0 | 0 |
Board fee structure and ownership guideline
| Annual cash retainer | $100,000 |
|---|---|
| Annual equity retainer | $175,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 15,000 / 10,000 |
| Stock ownership guideline | 5x annual Board cash retainer |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $950,556 |
| Equity awards (grant-date value) | $1,637,013 |
| All other compensation | $0 |
| Total cost of the board | $2,587,569 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Liberty Energy as a peer
Companies that benchmark against LBRT
13 companies name LBRT as a compensation peer
- Cactus, Inc.WHDFY2025
- Delek US Holdings, Inc.DKFY2025
- DNOW Inc.DNOWFY2025
- Expro LtdXPROFY2024
- HALLIBURTON COHALFY2025
- Kodiak Gas Services, Inc.KGSFY2025
- MRC GLOBAL INC.MRCFY2024
- National Energy Services Reunited Corp.NESRFY2025
- PATTERSON UTI ENERGY INCPTENFY2025
- Select Water Solutions, Inc.WTTRFY2025
- Solaris Energy Infrastructure, Inc.SEIFY2025
- Transocean Ltd.RIGFY2025
- Weatherford International plcWFRDFY2025
Each company listed discloses LBRT 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 LBRT 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
The companies Liberty Energy Inc. names as compensation peers that name it back in their own disclosed peer groups.
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.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Halliburton Company | 2025 | Jeffrey Miller | $1,700,000 | $7,992,782 | $0 | $5,944,836 | $16,525,407 |
| 2 | Patterson-UTI Energy, Inc. | 2025 | William Hendricks | 1,300,000 | 8,497,991 | 0 | 2,264,330 | 12,077,321 |
| 3 | Helmerich & Payne, Inc. | 2025 | John Lindsay | 1,179,909 | 5,749,957 | 0 | 1,559,016 | 9,010,799 |
| 4 | ProPetro Holding Corp. | 2025 | Samuel Sledge | 975,000 | 4,391,410 | 0 | 1,137,500 | 6,539,712 |
| 5 | Oil States International, Inc. | 2025 | Cindy Taylor | 925,000 | 2,400,003 | 0 | 1,654,244 | 5,079,386 |
| 6 | Liberty Energy Inc. | 2025 | Ron Gusek | 591,282 | 2,943,855 | 0 | 1,057,718 | 4,793,487 |
| 7 | RPC, Inc. | 2025 | Ben Palmer | 618,000 | 1,388,265 | 0 | 1,155,660 | 3,192,075 |
| 8 | ProFrac Holding Corp. | 2025 | Johnathan Wilks | 475,000 | 780,488 | 0 | 47,500 | 1,382,583 |
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
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Liberty Energy Inc. | not disclosed | not disclosed | No | CBIZ Inc. |
| Halliburton Company | not disclosed | not disclosed | Yes — Total Shareholder Return (TSR) | not disclosed |
| Helmerich & Payne, Inc. | 109.09% | PSU 50 · RSU 50 | Yes — Total Stockholder Return (TSR) | Willis Towers Watson |
| Oil States International, Inc. | not disclosed | RSU 50 · PRSU 25 · Cash Performance Award 25 | not disclosed | Meridian Compensation Partners |
| Patterson-UTI Energy, Inc. | not disclosed | PSU 50 · RSU 50 | Yes — Total Stockholder Return (TSR) | Pay Governance LLC |
| ProFrac Holding Corp. | not disclosed | PSU 60 · RSU 40 | No | not disclosed |
| ProPetro Holding Corp. | not disclosed | RSU 50 · PSU 50 | not disclosed | Pearl Meyer |
| RPC, Inc. | 187% | RSU 75 · PSU 25 | No | Mercer, 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 year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-04-14 | 137,886,808 | 1,961,138 | 388,254 | 98.32% | Passed |
| 2025 | 2025-04-15 | 139,465,988 | 2,110,215 | 137,599 | 98.41% | Passed |
| 2024 | 2024-04-16 | 145,842,406 | 2,301,691 | 271,511 | 98.27% | Passed |
| 2023 | 2023-04-18 | 139,251,531 | 2,498,669 | 158,712 | 98.13% | Passed |
| 2022 | 2022-04-19 | 159,712,833 | 2,844,956 | 11,893 | 98.24% | Passed |
| 2021 | 2021-04-20 | 160,776,270 | 671,717 | 69,805 | 99.54% | 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 year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2026 | 2026-04-14 | 98.32%a |
| 2025 | 2025-04-15 | 98.41%b |
| 2024 | 2024-04-16 | 98.27%c |
a. Approved under the standard stated in the filing — “Votes that are withheld have no effect on the outcome of this proposal Broker non-votes have no effect on the outcome of this proposal (2) To approve, on an advisory basis, the compensation of our named executive officers 2 Affirmative vote of a majority of shares present in person or by proxy and entitled to vote on the matter "FOR" Abstentions have the effect of a vote against "AGAINST" Broker non-votes have no effect on the outcome of this proposal (3) To ratify the appointment of Deloitte as our independent registered public accounting firm for the fiscal year end ot be appropriate or feasible to change our executive compensation programs in consideration of one year's advisory vote on executive compensation by the time of the following year's annual meeting of stockholders.”.
b. Approved under the standard stated in the filing — “In addition, if you "withhold" authority to vote with respect to the election of some or all of the nominees, your shares will not be voted with respect to those nominees indicated Broker non-votes have no effect (2) To approve, on an advisory basis, the compensation of our named executive officers (2) Affirmative vote of a majority of shares present in person or by proxy and entitled to vote on the matter "FOR" Abstentions have the effect of a vote against "AGAINST" Broker non-votes have no effect (3) To ratify the appointment of Deloitte as our independent registered public accounting firm for the fiscal year ending December 31, 2025 Affirmativ ot be appropriate or feasible to change our executive compensation programs in consideration of one year's advisory vote on executive compensation by the time of the following year's annual meeting of stockholders.”.
c. Approved under the standard stated in the filing — “Affirmative vote of a majority of shares present in person or by proxy and entitled to vote on the matter "FOR" Abstentions have the effect of a vote "AGAINST" There will be no broker non-votes on Proposal 3 because brokers have discretion to vote on this proposal (4) To approve our A& R LTI P.”.
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.
CEO pay ratio
| Ratio (CEO : median employee) | 37 : 1 |
|---|---|
| CEO total compensation | $4,793,487 |
| Median employee compensation | $128,701 |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (44 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, Christopher Wright. DEF 14A, filed 2026-03-05. Section “EXECUTIVE COMPENSATION TABLES” · page 27. As printed: 16,715,954. View filing ↗
- Section 01, Ron Gusek. DEF 14A, filed 2026-03-05. Section “EXECUTIVE COMPENSATION TABLES” · page 27. As printed: 4,793,487. View filing ↗
- Section 01, Michael Stock. DEF 14A, filed 2026-03-05. Section “EXECUTIVE COMPENSATION TABLES” · page 27. As printed: 3,672,551. View filing ↗
- Section 01, R. Sean Elliott. DEF 14A, filed 2026-03-05. Section “EXECUTIVE COMPENSATION TABLES” · page 27. As printed: 2,717,223. View filing ↗
- Section 01, Ryan Gosney. DEF 14A, filed 2026-03-05. Section “EXECUTIVE COMPENSATION TABLES” · page 27. As printed: 2,251,263. View filing ↗
- Section 03, Ron Gusek RSU. DEF 14A. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, R. Sean Elliott RSU. DEF 14A, filed 2026-03-05. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Ron Gusek PSU. DEF 14A, filed 2026-03-05. Section “EXECUTIVE COMPENSATION TABLES” · grants of plan-based awards table. View filing ↗
- Section 03, Ryan Gosney PSU. DEF 14A, filed 2026-03-05. Section “EXECUTIVE COMPENSATION TABLES” · grants of plan-based awards table. View filing ↗
- Section 03, Ron Gusek PSU. DEF 14A. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, R. Sean Elliott PSU. DEF 14A, filed 2026-03-05. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Christopher Wright RSU. DEF 14A, filed 2026-03-05. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Ryan Gosney RSU. DEF 14A, filed 2026-03-05. Section “EXECUTIVE COMPENSATION TABLES” · grants of plan-based awards table. View filing ↗
- Section 03, Ron Gusek RSU. DEF 14A, filed 2026-03-05. Section “EXECUTIVE COMPENSATION TABLES” · grants of plan-based awards table. View filing ↗
- Section 03, Michael Stock PSU. DEF 14A, filed 2026-03-05. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Michael Stock RSU. DEF 14A, filed 2026-03-05. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-03-05. Section “CEO Pay Ratio”. As printed: 37 : 1. View filing ↗
- Section 08, William F. Kimble. DEF 14A, filed 2026-03-05. Section “Director Compensation”. As printed: 454,228. View filing ↗
- Section 08, Peter A. Dea. DEF 14A, filed 2026-03-05. Section “Director Compensation”. As printed: 316,103. View filing ↗
- Section 08, Gale A. Norton. DEF 14A, filed 2026-03-05. Section “Director Compensation”. As printed: 316,103. View filing ↗
- Section 08, Cary D. Steinbeck. DEF 14A, filed 2026-03-05. Section “Director Compensation”. As printed: 313,603. View filing ↗
- Section 08, Simon Ayat. DEF 14A, filed 2026-03-05. Section “Director Compensation”. As printed: 306,103. View filing ↗
- Section 08, Ken Babcock. DEF 14A, filed 2026-03-05. Section “Director Compensation”. As printed: 303,603. View filing ↗
- Section 08, Arjun Murti. DEF 14A, filed 2026-03-05. Section “Director Compensation”. As printed: 278,311. View filing ↗
- Section 08, Audrey Robertson. DEF 14A, filed 2026-03-05. Section “Director Compensation”. As printed: 240,802. View filing ↗
- Section 08, Alice Yake. DEF 14A, filed 2026-03-05. Section “Director Compensation”. As printed: 58,713. View filing ↗
- Section 08, James R. McDonald. DEF 14A, filed 2026-03-05. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-04-17. Item 5.07 · say-on-pay result. As reported: 98.32% (votes for as printed: 137,886,808). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-04-21. Item 5.07 · say-on-pay result. As reported: 98.41% (votes for as printed: 139,465,988). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-04-19. Item 5.07 · say-on-pay result. As reported: 98.27% (votes for as printed: 145,842,406). 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 950,556 + equity 1,637,013 + all other 0 = 2,587,569, summed across the director compensation table rows.
- Halliburton Company, Section 10b CEO total. DEF 14A, filed 2026-03-31. CEO total compensation as printed in Halliburton Company's own proxy. As printed: 16,525,407. View filing ↗
- Patterson-UTI Energy, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-13. CEO total compensation as printed in Patterson-UTI Energy, Inc.'s own proxy. As printed: 12,077,321. View filing ↗
- Helmerich & Payne, Inc., Section 10b CEO total. DEF 14A, filed 2026-01-22. CEO total compensation as printed in Helmerich & Payne, Inc.'s own proxy. As printed: 9,010,799. View filing ↗
- ProPetro Holding Corp., Section 10b CEO total. DEF 14A, filed 2026-04-08. CEO total compensation as printed in ProPetro Holding Corp.'s own proxy. As printed: 6,539,712. 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 ↗
- Liberty Energy Inc. (subject), Section 10b CEO total. DEF 14A, filed 2026-03-05. CEO total compensation as printed in Liberty Energy Inc.'s own proxy. As printed: 4,793,487. View filing ↗
- RPC, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-18. CEO total compensation as printed in RPC, Inc.'s own proxy. As printed: 3,192,075. View filing ↗
- ProFrac Holding Corp., Section 10b CEO total. DEF 14A, filed 2026-04-27. CEO total compensation as printed in ProFrac Holding Corp.'s own proxy. As printed: 1,382,583. View filing ↗
- Section 10a, Patterson-UTI Energy, Inc. reciprocity. DEF 14A. Patterson-UTI Energy, Inc. names Liberty Energy Inc. in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, ProFrac Holding Corp. reciprocity. DEF 14A. ProFrac Holding Corp. names Liberty Energy Inc. in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Halliburton Company reciprocity. DEF 14A. Halliburton Company names Liberty Energy Inc. in its own disclosed peer group (read from its most recent proxy). View filing ↗