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Companies Matrix Service

Matrix Service (MTRX): executive pay, fiscal 2026

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CEO total pay$6,741,465CEO John Hewitt · source
Say-on-pay support93.24%Latest vote · source
CEO vs. named peers58th pct.Of 20 peer CEOs
CEO pay ratio57:1To the median employee · source

CEO pay, last three years

  • $4,097,287FY2024
  • $3,069,459FY2025
  • $6,741,465FY2026

CEO total pay was $6,741,465 in fiscal 2026, up from $3,069,459 in fiscal 2025.

FY2026: salary $800,000 · bonus $0 · stock awards $3,981,443 · option awards $0

Executives and directors

Frequently asked questions

Who was the highest-paid executive at Matrix Service in fiscal 2026?
As disclosed, John Hewitt (Chief Executive Officer) was the highest-paid executive at Matrix Service in fiscal 2026, with total compensation of $6,741,465.
How does Matrix Service's chief executive pay compare to its disclosed peer group?
As disclosed, John Hewitt's total compensation ranked at the 58th percentile of Matrix Service's disclosed peer group.
What is Matrix Service's CEO-to-median employee pay ratio?
As disclosed, Matrix Service's CEO-to-median employee pay ratio was 57:1.
How did shareholders vote on Matrix Service's executive compensation?
As disclosed, 93.24% of shareholders supported Matrix Service's executive compensation in the latest say-on-pay vote.
How much does Matrix Service spend in total on board compensation for fiscal 2026?
As disclosed, Matrix Service reported total board compensation of $1,401,676 for fiscal 2026.

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 officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
John Hewitt$800,000$0$3,981,443$0$291,478$0$1,668,544$6,741,465
Chief Executive Officer
Shawn Payne535,49450,0001,765,5180148,933023,2962,523,241
Chief Operating Officer
Nancy Austin362,7350769,165000694,2551,826,155
Former Chief Administrative Officer
Kevin Cavanah510,8360924,7690140,377025,4311,601,413
Chief Financial Officer
Justin Sheets403,2920521,4900106,280018,6331,049,695
Senior Vice President, Enterprise Services

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 officerFY2026 totalFY2025 totalFY2024 totalΔ FY2025→2026
John Hewitt$6,741,465$3,069,459$4,097,287↑ +3,672,006
Shawn Payne2,523,241962,9751,139,188↑ +1,560,266
Nancy Austin1,826,155823,018981,702↑ +1,003,137
Kevin Cavanah1,601,4131,249,2821,538,581↑ +352,131
Justin Sheets1,049,695820,270978,792↑ +229,425

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 philosophy is designed to provide the opportunity for outstanding compensation when superior performance is demonstrated, aligning executive pay with the creation of long-term stockholder value. It emphasizes competitiveness, support for business objectives, and a pay-for-performance approach where target levels are set at the market median but rewards significantly increase for outstanding performance.

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

No plan-based awards are on file for this fiscal year.

Outstanding equity awards at fiscal year-end 2026

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Justin SheetsPSU11,644—$159,523
Nancy AustinRSU20,368—279,042
Kevin CavanahPSU20,649—282,891
Shawn PaynePSU22,102—302,797
John HewittPSU42,244—578,743
Justin SheetsRSU47,226—646,996
Kevin CavanahRSU83,752—1,147,402
Shawn PayneRSU104,632—1,433,458
John HewittRSU197,146—2,700,900
Director compensation
DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
John D. ChandlerIndependent · Board Chair · Strategy$185,000$121,946———$306,946
Martha Z. CarnesIndependent · Audit (Chair) · Compensation · Nominating and Corporate Governance105,000121,946———226,946
Carlin G. ConnerIndependent · Audit · Compensation (Chair) · Nominating and Corporate Governance · Strategy100,000121,946———221,946
James H. MillerIndependent · Project Risk (Chair)97,500121,946———220,680
Liane K. HinrichsIndependent · Audit · Compensation · Nominating and Corporate Governance (Chair) · Strategy97,500121,946———219,446
Jose L. BustamanteIndependent · Audit · Compensation · Nominating and Corporate Governance · Project Risk85,000121,946———207,906
Shawn P. PayneEmployee director · Project Risk · Strategy (Chair) · Partial-year service · Newly elected—————0

Board fee structure and ownership guideline

Annual cash retainer$85,000
Annual equity retainer$105,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)20,000 / 15,000 / 12,500
Stock ownership guidelineAs of our most recent evaluation date in May 2026, all of our NEOs and non-employee directors met their equity ownership guidelines.

Total cost of the board

ComponentFY2026
Cash retainers and fees$670,000
Equity awards (grant-date value)$731,676
All other compensation$0
Total cost of the board$1,401,676

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

Peer group, and who names Matrix Service as a peer

Companies that benchmark against MTRX

11 companies name MTRX as a compensation peer

Each company listed discloses MTRX 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 MTRX 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 2026

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

Peer reciprocity

The companies Matrix Service 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.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Emcor Group Inc.2025Anthony Guzzi$1,325,000$3,505,903$0$9,375,000$14,380,630
2KBR Inc.2025Stuart Bradie1,310,3084,879,03405,227,13211,614,552
3MasTec Inc.2025Jose Mas1,250,0008,000,00002,250,00011,544,386
4Granite Construction Inc.2025Kyle Larkin1,000,0007,178,77701,612,9359,861,425
5Sterling Infrastructure Inc.2025Joseph Cutillo1,100,0004,675,00002,530,0008,414,685
6NPK International Inc.2025Matthew Lanigan754,0004,058,53703,339,6328,196,160
7Arcosa Inc.2025Antonio Carrillo1,000,0005,127,74101,937,5008,092,216
8Dycom Industries Inc.2026Daniel Peyovich1,176,2593,762,64203,058,2738,011,338
9Matrix Service2026John Hewitt800,0003,981,4430291,4786,741,465
10MYR Group Inc.2025Richard Swartz941,4613,837,84601,572,5146,387,221
11IES Holdings Inc.2025Matthew Simmes793,750772,18204,632,0126,203,398
12Mistras Group Inc.2025Natalia Shuman850,0001,971,413190,482510,0003,610,368
13Nwpx Infrastructure Inc.2025Scott Montross732,1821,280,06101,464,3643,492,930
14Ameresco Inc.2025George Sakellaris1,500,000155,1001,385,99903,339,804
15Limbach Holdings Inc.2025Michael McCann800,0001,192,1500741,3062,759,456
16Argan, Inc.2026David Watson500,0001,547,26086,50002,668,098
17NV5 Global Inc.2023Dickerson Wright749,0141,663,424002,447,385
18Primoris Services Corporation2025Koti Vadlamudi115,385900,104002,176,941
19Orion Group Holdings Inc.2025Paul McDowell584,000659,9060746,9362,080,319
20Concrete Pumping Holdings Inc.2025Bruce Young623,145765,3740301,0001,722,587

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
Matrix Servicenot disclosedRSU 50 · PSU 50NoPay Governance
Ameresco Inc.95%not disclosedNoFW Cook
Arcosa Inc.not disclosednot disclosedYes — rTSRPay Governance LLC
Argan, Inc.not disclosednot disclosednot disclosednot disclosed
Concrete Pumping Holdings Inc.not disclosednot disclosednot disclosednot disclosed
Dycom Industries Inc.226%PSU 50 · RSU 50NoNot disclosed
Emcor Group Inc.300%RSU 50 · Cash LTI 50NoMercer
Granite Construction Inc.134%PSU 75 · RSU 25Yes — Relative TSRFW Cook
IES Holdings Inc.not disclosedPSU 67 · RSU 33NoMercer US, Inc.
KBR Inc.113.1%PSU 66 · RSU 33Yes — Relative Total Stockholder Return (TSR)Meridian Compensation Partners, LLC
Limbach Holdings Inc.not disclosedPRSU 67 · RSU 33not disclosedCAP
MasTec Inc.not disclosedRSU 100not disclosedMeridian
Mistras Group Inc.60%RSU 100NoPay Governance LLC
MYR Group Inc.165.5%PSU 70 · RSU 30Yes — TSRMercer
NPK International Inc.not disclosedRSU 50 · PRSU 50not disclosedZayla Partners, LLC
NV5 Global Inc.not disclosedRSA 100not disclosedMeridian Compensation Partners, LLC
Nwpx Infrastructure Inc.not disclosedPSU 75 · RSU 25not disclosedWillis Towers Watson
Orion Group Holdings Inc.not disclosedPSU 60 · RSU 40Yes — absolute TSR performanceFerguson Partners Consulting L.P.
Primoris Services Corporation190%PSU 65 · RSU 35NoMeridian Compensation Partners
Sterling Infrastructure Inc.not disclosedPSU 60 · RSU 40Yes — Relative Total Shareholder Return (TSR)Meridian 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
20252025-11-0420,132,9221,408,55450,75493.24%Passed
20242024-11-0521,374,908625,278173,07696.4%Passed
20232023-11-1415,259,1253,408,66060,13581.48%Passed
20222022-12-0515,215,5402,906,2971,203,79278.73%Passed
20212021-11-0221,862,746521,08052,64797.44%Passed
20202020-11-0321,854,0981,447,74145,35193.6%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
20252025-11-0493.24%a
20242024-11-0596.4%b
20232023-11-1481.48%c

a. Approved under the standard stated in the filing — “Abstentions will have the effect of a vote against the proposal.”.

b. Approved under the standard stated in the filing — “Abstentions will have the effect of a vote against the proposal.”.

c. Approved under the standard stated in the filing — “Abstentions will have the effect of a vote against the proposal.”.

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)57 : 1
CEO total compensation$6,741,465
Median employee compensation$118,186
Insider trades since the proxy

Every insider equity transaction reported on Form 4 after the 2026 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Liane K. HinrichsDirector2026-11-03A10,325$0$0CommonForm 4 ↗
Carlin G. ConnerDirector2026-11-03A10,32500CommonForm 4 ↗
Martha Z. CarnesDirector2026-11-03A10,32500CommonForm 4 ↗
James H. MillerDirector2026-11-03A10,32500CommonForm 4 ↗
Jose L. BustamanteDirector2026-11-03A10,32500CommonForm 4 ↗
John D. ChandlerDirector2026-11-03A10,32500CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

Sources (49 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, John Hewitt. DEF 14A, filed 2026-09-23. Section “Summary Compensation Table” · page 35. As printed: 6,741,465. View filing ↗
  • Section 01, Shawn Payne. DEF 14A, filed 2026-09-23. Section “Summary Compensation Table”. As printed: 2,523,241. View filing ↗
  • Section 01, Nancy Austin. DEF 14A, filed 2026-09-23. Section “Summary Compensation Table”. As printed: 1,826,155. View filing ↗
  • Section 01, Kevin Cavanah. DEF 14A, filed 2026-09-23. Section “Summary Compensation Table”. As printed: 1,601,413. View filing ↗
  • Section 01, Justin Sheets. DEF 14A, filed 2026-09-23. Section “Summary Compensation Table”. As printed: 1,049,695. View filing ↗
  • Section 07, pay ratio. DEF 14A, filed 2026-09-23. Section “CEO Pay Ratio”. As printed: 57 : 1. View filing ↗
  • Section 08, John D. Chandler. DEF 14A, filed 2026-09-23. Section “Director Compensation”. As printed: 306,946. View filing ↗
  • Section 08, Martha Z. Carnes. DEF 14A, filed 2026-09-23. Section “Director Compensation”. As printed: 226,946. View filing ↗
  • Section 08, Carlin G. Conner. DEF 14A, filed 2026-09-23. Section “Director Compensation”. As printed: 221,946. View filing ↗
  • Section 08, James H. Miller. DEF 14A, filed 2026-09-23. Section “Director Compensation”. As printed: 220,680. View filing ↗
  • Section 08, Liane K. Hinrichs. DEF 14A, filed 2026-09-23. Section “Director Compensation”. As printed: 219,446. View filing ↗
  • Section 08, Jose L. Bustamante. DEF 14A, filed 2026-09-23. Section “Director Compensation”. As printed: 207,906. View filing ↗
  • Section 08, Shawn P. Payne. DEF 14A, filed 2026-09-23. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 02, Liane K. Hinrichs 2026-11-03. Form 4, filed 2026-11-04. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Carlin G. Conner 2026-11-03. Form 4, filed 2026-11-04. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Martha Z. Carnes 2026-11-03. Form 4, filed 2026-11-04. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, James H. Miller 2026-11-03. Form 4, filed 2026-11-04. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Jose L. Bustamante 2026-11-03. Form 4, filed 2026-11-04. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, John D. Chandler 2026-11-03. Form 4, filed 2026-11-04. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 06, 2025 vote. Form 8-K, filed 2025-11-04. Item 5.07 · say-on-pay result. As reported: 93.24% (votes for as printed: 20,132,922). View filing ↗
  • Section 06, 2024 vote. Form 8-K, filed 2024-11-06. Item 5.07 · say-on-pay result. As reported: 96.4% (votes for as printed: 21,374,908). View filing ↗
  • Section 06, 2023 vote. Form 8-K, filed 2023-11-16. Item 5.07 · say-on-pay result. As reported: 81.48% (votes for as printed: 15,259,125). View filing ↗
  • Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
  • Section 09b board cost (computed). Computed. Cash 670,000 + equity 731,676 + all other 0 = 1,401,676, summed across the director compensation table rows.
  • Emcor Group Inc., Section 10b CEO total. DEF 14A, filed 2026-04-21. CEO total compensation as printed in Emcor Group Inc.'s own proxy. As printed: 14,380,630. View filing ↗
  • KBR Inc., Section 10b CEO total. DEF 14A, filed 2026-03-30. CEO total compensation as printed in KBR Inc.'s own proxy. As printed: 11,614,552. View filing ↗
  • MasTec Inc., Section 10b CEO total. DEF 14A, filed 2026-04-09. CEO total compensation as printed in MasTec Inc.'s own proxy. As printed: 11,544,386. View filing ↗
  • Granite Construction Inc., Section 10b CEO total. DEF 14A, filed 2026-04-23. CEO total compensation as printed in Granite Construction Inc.'s own proxy. As printed: 9,861,425. View filing ↗
  • Sterling Infrastructure Inc., Section 10b CEO total. DEF 14A, filed 2026-03-25. CEO total compensation as printed in Sterling Infrastructure Inc.'s own proxy. As printed: 8,414,685. View filing ↗
  • NPK International Inc., Section 10b CEO total. DEF 14A, filed 2026-04-09. CEO total compensation as printed in NPK International Inc.'s own proxy. As printed: 8,196,160. View filing ↗
  • Arcosa Inc., Section 10b CEO total. DEF 14A, filed 2026-03-31. CEO total compensation as printed in Arcosa Inc.'s own proxy. As printed: 8,092,216. View filing ↗
  • Dycom Industries Inc., Section 10b CEO total. DEF 14A, filed 2026-04-16. CEO total compensation as printed in Dycom Industries Inc.'s own proxy. As printed: 8,011,338. View filing ↗
  • Matrix Service (subject), Section 10b CEO total. DEF 14A, filed 2026-09-23. CEO total compensation as printed in Matrix Service's own proxy. As printed: 6,741,465. View filing ↗
  • MYR Group Inc., Section 10b CEO total. DEF 14A, filed 2026-03-04. CEO total compensation as printed in MYR Group Inc.'s own proxy. As printed: 6,387,221. View filing ↗
  • IES Holdings Inc., Section 10b CEO total. DEF 14A, filed 2026-01-07. CEO total compensation as printed in IES Holdings Inc.'s own proxy. As printed: 6,203,398. View filing ↗
  • Mistras Group Inc., Section 10b CEO total. DEF 14A, filed 2026-04-07. CEO total compensation as printed in Mistras Group Inc.'s own proxy. As printed: 3,610,368. View filing ↗
  • Nwpx Infrastructure Inc., Section 10b CEO total. DEF 14A, filed 2026-04-23. CEO total compensation as printed in Nwpx Infrastructure Inc.'s own proxy. As printed: 3,492,930. View filing ↗
  • Ameresco Inc., Section 10b CEO total. DEF 14A, filed 2026-04-23. CEO total compensation as printed in Ameresco Inc.'s own proxy. As printed: 3,339,804. View filing ↗
  • Limbach Holdings Inc., Section 10b CEO total. DEF 14A, filed 2026-04-23. CEO total compensation as printed in Limbach Holdings Inc.'s own proxy. As printed: 2,759,456. View filing ↗
  • Argan, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-21. CEO total compensation as printed in Argan, Inc.'s own proxy. As printed: 2,668,098. View filing ↗
  • NV5 Global Inc., Section 10b CEO total. DEF 14A, filed 2024-04-29. CEO total compensation as printed in NV5 Global Inc.'s own proxy. As printed: 2,447,385. View filing ↗
  • Primoris Services Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-20. CEO total compensation as printed in Primoris Services Corporation's own proxy. As printed: 2,176,941. View filing ↗
  • Orion Group Holdings Inc., Section 10b CEO total. DEF 14A, filed 2026-03-20. CEO total compensation as printed in Orion Group Holdings Inc.'s own proxy. As printed: 2,080,319. View filing ↗
  • Concrete Pumping Holdings Inc., Section 10b CEO total. DEF 14A, filed 2026-02-25. CEO total compensation as printed in Concrete Pumping Holdings Inc.'s own proxy. As printed: 1,722,587. View filing ↗
  • Section 10a, Ameresco Inc. reciprocity. DEF 14A. Ameresco Inc. names Matrix Service in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, MYR Group Inc. reciprocity. DEF 14A. MYR Group Inc. names Matrix Service in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Argan, Inc. reciprocity. DEF 14A. Argan, Inc. names Matrix Service in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Mistras Group Inc. reciprocity. DEF 14A. Mistras Group Inc. names Matrix Service in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, NPK International Inc. reciprocity. DEF 14A. NPK International Inc. names Matrix Service in its own disclosed peer group (read from its most recent proxy). View filing ↗
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