Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-05-08

Alpha Metallurgical Resources (AMR)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$4,167,842
C. Andrew Eidson total, FY2025
1st
CEO pay percentile vs peers
CEO-to-median pay ratio
98.93%
Say-on-pay support, latest vote
Companies that benchmark against AMR
2 companies name AMR as a compensation peer

Each company listed discloses AMR 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 AMR in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
C. Andrew Eidson$943,846$0$2,660,357$0$520,956$0$42,683$4,167,842
Chief Executive Officer
Jason Whitehead716,05801,643,0870343,831020,0552,723,031
President and Chief Operating Officer
J. Todd Munsey523,36577,8361,043,3260366,66809,6062,020,801
EVP and Chief Financial Officer
Daniel Horn494,22101,043,3260214,634041,0231,793,204
EVP, Chief Commercial Officer
Mark Manno478,4620991,2140208,383017,6751,695,734
EVP, General Counsel and Secretary

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 FY20242025
C. Andrew Eidson$4,167,842$4,945,893$6,053,361−778,051
Jason Whitehead2,723,0313,278,8034,150,007−555,772
J. Todd Munsey2,020,8012,478,0082,600,492−457,207
Daniel Horn1,793,2042,207,2022,622,440−413,998
Mark Manno1,695,734549,251+1,146,483

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

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Jason WhiteheadPSU2025-01-228081,6153,230$374,018
C. Andrew EidsonPSU2025-01-221,3082,6155,230605,608
C. Andrew EidsonPSU2025-01-221,9623,9237,846770,556
C. Andrew EidsonRSU2025-01-226,5381,284,194
Daniel HornPSU2025-01-227691,5383,076302,094
Daniel HornPSU2025-01-225131,0262,052237,611
Daniel HornRSU2025-01-222,564503,621
Mark MannoRSU2025-01-222,436478,479
Mark MannoPSU2025-01-227311,4622,924287,166
Mark MannoPSU2025-01-224879741,948225,569
J. Todd MunseyRSU2025-01-222,564503,621
J. Todd MunseyPSU2025-01-227691,5383,076302,094
J. Todd MunseyPSU2025-01-225131,0262,052237,611
Jason WhiteheadRSU2025-01-224,038793,144
Jason WhiteheadPSU2025-01-221,2122,4234,846475,926
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Jason Whitehead$793,144$849,944$051.7%
C. Andrew Eidson1,284,1941,376,164051.7%
Daniel Horn503,621539,705051.7%
Mark Manno478,479512,735051.7%
J. Todd Munsey503,621539,705051.7%

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

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
C. Andrew EidsonRSU6,521$1,316,068
C. Andrew EidsonRSU6,5381,306,815
Jason WhiteheadRSU4,028812,931
Jason WhiteheadRSU4,038807,115
C. Andrew EidsonRSU3,445688,587
05

Incentive-plan design — the Compensation Discussion & Analysis

Our executive compensation program is designed to attract, retain and reward executives who create long-term stockholder value, share our mission and perform in a manner that enables the Company to achieve its strategic goals. The program provides a market-based total compensation tied to financial, operating and share performance, with an emphasis on long-term compensation to align executive interests with long-term results and stockholder interests.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantMeridian
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-067,863,35885,3117,41098.93%Passed
20252025-05-079,160,399503,41014,05994.79%Passed
20242024-05-029,404,763338,73215,74396.52%Passed
20232023-05-038,945,852394,3285,16795.78%Passed
20222022-05-0310,293,788899,4679,03291.96%Passed
20212021-04-2910,525,086371,674485,00092.47%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
20262026-05-0698.93%a
20252025-05-0794.79%b
20242024-05-0296.52%c

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

c. Voting standard not stated in the filing.

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.

09

Board fee structure and ownership guideline

Annual cash retainer$95,000
Annual equity retainer$125,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)30,000 / 20,000 / 12,000
Stock ownership guideline$5
10

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.

10a

Peer reciprocity

Of the companies Alpha Metallurgical Resources 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 Alpha Metallurgical Resources.

10b

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
1Core Natural Resources, Inc.2025James Brock$1,000,000$15,922,176$0$2,128,750$19,445,313
2Ryerson Holding Corporation2025Edward Lehner1,200,00016,127,6000451,50017,857,908
3ATI Inc.2025Kimberly Fields950,00010,051,70002,295,79413,512,737
4Peabody Energy Corporation2025James Grech1,075,0005,080,12501,835,8539,025,131
5Carpenter Technology Corporation2025Tony Thene1,020,1924,500,08002,698,4088,416,878
6Kaiser Aluminum Corporation2025Keith Harvey1,000,0004,212,18802,127,5007,914,836
7Warrior Met Coal, Inc.2025Walter Scheller III900,0004,121,83102,011,7257,336,513
8Metallus Inc.2025Michael Williams902,7083,865,15601,017,8035,863,348
9SunCoke Energy, Inc.2025Katherine Gates975,00002,047,0111,028,7064,401,365
10Alpha Metallurgical Resources2025C. Andrew Eidson943,8462,660,3570520,9564,167,842
Radius Recycling, Inc.not in coverage universe
Worthington Steel, Inc.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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Alpha Metallurgical Resourcesnot disclosedRSU 50 · PSU 50not disclosedMeridian
ATI Inc.not disclosedPSU 70 · RSU 30not disclosedMeridian Compensation Partners, LLC
Carpenter Technology Corporationnot disclosednot disclosednot disclosednot disclosed
Core Natural Resources, Inc.Aggregate payout scores ranged from 78.15% (Klein) to 85.15% (Brock) of target opportunity.%PSUs 55 · RSUs 45Yes — Relative TSR - Compensation Peer GroupMercer
Kaiser Aluminum Corporationnot disclosednot disclosednot disclosednot disclosed
Metallus Inc.not disclosedPRSU 60 · RSU 40not disclosedMeridian
Peabody Energy Corporationnot disclosedPSU 50 · RSU 50not disclosedF.W. Cook
Radius Recycling, Inc.not disclosednot disclosednot disclosednot disclosed
Ryerson Holding Corporation30%PSU 67 · RSU 33NoCompensation Advisory Partners (CAP)
SunCoke Energy, Inc.not disclosednot disclosednot disclosedMeridian Compensation Partners, LLC
Warrior Met Coal, Inc.not disclosednot disclosednot disclosednot disclosed
Worthington Steel, Inc.not disclosednot disclosednot disclosednot disclosed

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.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, C. Andrew EidsonDEF 14A2026-03-310001140361-26-012338Section “2025 Summary Compensation Table” · page 48. As printed: 4,167,842. Filing ↗machine: r2 · c25 · span 867785–867794
2Section 01, Jason WhiteheadDEF 14A2026-03-310001140361-26-012338Section “2025 Summary Compensation Table” · page 48. As printed: 2,723,031. Filing ↗machine: r8 · c25 · span 894751–894760
3Section 01, J. Todd MunseyDEF 14A2026-03-310001140361-26-012338Section “2025 Summary Compensation Table” · page 48. As printed: 2,020,801. Filing ↗machine: r5 · c25 · span 881507–881516
4Section 01, Daniel HornDEF 14A2026-03-310001140361-26-012338Section “2025 Summary Compensation Table” · page 48. As printed: 1,793,204. Filing ↗machine: r11 · c25 · span 908219–908228
5Section 01, Mark MannoDEF 14A2026-03-310001140361-26-012338Section “2025 Summary Compensation Table” · page 48. As printed: 1,695,734. Filing ↗machine: r14 · c25 · span 921648–921657
6Section 03, Jason Whitehead PSUDEF 14A2026-03-310001140361-26-012338Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1007449–1007456
7Section 03, C. Andrew Eidson PSUDEF 14A2026-03-310001140361-26-012338Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 967883–967890
8Section 03, C. Andrew Eidson PSUDEF 14A2026-03-310001140361-26-012338Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 963338–963345
9Section 03, C. Andrew Eidson RSUDEF 14A2026-03-310001140361-26-012338Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 973213–973222
10Section 03, Daniel Horn PSUDEF 14A2026-03-310001140361-26-012338Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1022727–1022734
11Section 03, Daniel Horn PSUDEF 14A2026-03-310001140361-26-012338Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1027311–1027318
12Section 03, Daniel Horn RSUDEF 14A2026-03-310001140361-26-012338Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1032677–1032684
13Section 03, Mark Manno RSUDEF 14A2026-03-310001140361-26-012338Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1051353–1051360
14Section 03, Mark Manno PSUDEF 14A2026-03-310001140361-26-012338Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1042462–1042469
15Section 03, Mark Manno PSUDEF 14A2026-03-310001140361-26-012338Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1047087–1047094
16Section 03, J. Todd Munsey RSUDEF 14A2026-03-310001140361-26-012338Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 993031–993038
17Section 03, J. Todd Munsey PSUDEF 14A2026-03-310001140361-26-012338Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 983080–983087
18Section 03, J. Todd Munsey PSUDEF 14A2026-03-310001140361-26-012338Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 987665–987672
19Section 03, Jason Whitehead RSUDEF 14A2026-03-310001140361-26-012338Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1012815–1012822
20Section 03, Jason Whitehead PSUDEF 14A2026-03-310001140361-26-012338Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1002865–1002872
21Section 06, 2026 voteForm 8-K2026-05-080001704715-26-000017Item 5.07 · say-on-pay result. As reported: 98.93% (votes for as printed: 7,863,358). Filing ↗
22Section 06, 2025 voteForm 8-K2025-05-090001704715-25-000016Item 5.07 · say-on-pay result. As reported: 94.79% (votes for as printed: 9,160,399). Filing ↗
23Section 06, 2024 voteForm 8-K2024-05-060001704715-24-000095Item 5.07 · say-on-pay result. As reported: 96.52% (votes for as printed: 9,404,763). Filing ↗
24Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
25Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
26Core Natural Resources, Inc., Section 10b CEO totalDEF 14A2026-03-160001710366-26-000017CEO total compensation as printed in Core Natural Resources, Inc.'s own proxy. As printed: 19,445,313. Filing ↗machine: r2 · c45 · span 717665–717675
27Ryerson Holding Corporation, Section 10b CEO totalDEF 14A2026-03-180001193125-26-114120CEO total compensation as printed in Ryerson Holding Corporation's own proxy. As printed: 17,857,908. Filing ↗machine: t60 · r6 · c18 · span 2643676–2643686
28ATI Inc., Section 10b CEO totalDEF 14A2026-03-240001193125-26-121340CEO total compensation as printed in ATI Inc.'s own proxy. As printed: 13,512,737. Filing ↗machine: r3 · c31 · span 1157620–1157630
29Peabody Energy Corporation, Section 10b CEO totalDEF 14A2026-03-260001064728-26-000012CEO total compensation as printed in Peabody Energy Corporation's own proxy. As printed: 9,025,131. Filing ↗machine: r2 · c24 · span 542367–542376
30Carpenter Technology Corporation, Section 10b CEO totalDEF 14A2025-09-120001193125-25-202215CEO total compensation as printed in Carpenter Technology Corporation's own proxy. As printed: 8,416,878. Filing ↗machine: r6 · c33 · span 2594412–2594421
31Kaiser Aluminum Corporation, Section 10b CEO totalDEF 14A2026-04-280001193125-26-187425CEO total compensation as printed in Kaiser Aluminum Corporation's own proxy. As printed: 7,914,836. Filing ↗machine: span 2164997–2165006
32Warrior Met Coal, Inc., Section 10b CEO totalDEF 14A2026-03-100001691303-26-000007CEO total compensation as printed in Warrior Met Coal, Inc.'s own proxy. As printed: 7,336,513. Filing ↗machine: r4 · c17 · span 2277284–2277293
33Metallus Inc., Section 10b CEO totalDEF 14A2026-03-120001193125-26-102544CEO total compensation as printed in Metallus Inc.'s own proxy. As printed: 5,863,348. Filing ↗machine: span 960010–960019
34SunCoke Energy, Inc., Section 10b CEO totalDEF 14A2026-04-010001193125-26-136032CEO total compensation as printed in SunCoke Energy, Inc.'s own proxy. As printed: 4,401,365. Filing ↗machine: r3 · c38 · span 749567–749576
35Alpha Metallurgical Resources (subject), Section 10b CEO totalDEF 14A2026-03-310001140361-26-012338CEO total compensation as printed in Alpha Metallurgical Resources's own proxy. As printed: 4,167,842. Filing ↗machine: r2 · c25 · span 867785–867794
36Section 10a, Carpenter Technology Corporation reciprocityDEF 14A0001193125-25-202215Carpenter Technology Corporation's most recent proxy was read; its disclosed peer group does not include Alpha Metallurgical Resources. Filing ↗
37Section 10a, Core Natural Resources, Inc. reciprocityDEF 14A0001710366-26-000017Core Natural Resources, Inc.'s most recent proxy was read; its disclosed peer group does not include Alpha Metallurgical Resources. Filing ↗
38Section 10a, Metallus Inc. reciprocityDEF 14A0001193125-26-102544Metallus Inc.'s most recent proxy was read; its disclosed peer group does not include Alpha Metallurgical Resources. Filing ↗
39Section 10a, SunCoke Energy, Inc. reciprocityDEF 14A0001193125-26-136032SunCoke Energy, Inc.'s most recent proxy was read; its disclosed peer group does not include Alpha Metallurgical Resources. Filing ↗
40Section 10a, ATI Inc. reciprocityDEF 14A0001193125-26-121340ATI Inc.'s most recent proxy was read; its disclosed peer group does not include Alpha Metallurgical Resources. Filing ↗
41Section 10a, Ryerson Holding Corporation reciprocityDEF 14A0001193125-26-114120Ryerson Holding Corporation's most recent proxy was read; its disclosed peer group does not include Alpha Metallurgical Resources. Filing ↗
42Section 10a, Peabody Energy Corporation reciprocityDEF 14A0001064728-26-000012Peabody Energy Corporation names Alpha Metallurgical Resources in its own disclosed peer group (read from its most recent proxy). Filing ↗