Companies Permian Resources Corp
Permian Resources (CDEV): executive pay, fiscal 2025
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CEO pay, last three years
- $4,297FY2023
- $11,432,842FY2025
CEO total pay was $11,432,842 in fiscal 2025 (William Hickey), up from $4,297 in fiscal 2023 (James Walter, the CEO that year).
FY2025: salary $0 · bonus $0 · stock awards $11,432,842 · option awards $0
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 |
|---|---|---|---|---|---|---|---|---|
| James Walter | $0 | $0 | $11,432,842 | $0 | $0 | $0 | $0 | $11,432,842 |
| Chief Executive Officer | ||||||||
| William Hickey | 0 | 0 | 11,432,842 | 0 | 0 | 0 | 0 | 11,432,842 |
| Chief Executive Officer | ||||||||
| Guy Oliphint | 475,000 | 0 | 4,063,557 | 0 | 712,500 | 0 | 14,509 | 5,265,566 |
| Executive Vice President and Chief Financial Officer | ||||||||
| Robert Shannon | 395,833 | 0 | 4,063,557 | 0 | 480,000 | 0 | 23,500 | 4,962,890 |
| Executive Vice President and Chief Accounting Officer | ||||||||
| John Bell | 400,000 | 0 | 4,063,557 | 0 | 480,000 | 0 | 15,275 | 4,958,832 |
| Executive Vice President, 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 officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| James Walter | $11,432,842 | — | $4,297 | — |
| William Hickey | 11,432,842 | — | — | — |
| Guy Oliphint | 5,265,566 | 4,924,266 | 6,094,178 | ↑ +341,300 |
| Robert Shannon | 4,962,890 | 2,877,431 | — | ↑ +2,085,459 |
| John Bell | 4,958,832 | 2,998,754 | 847,560 | ↑ +1,960,078 |
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 program is designed to attract, motivate, reward, and retain high-caliber management by aligning executive pay with short-term and long-term business objectives, financial performance, and shareholder returns. A key feature is that Co-CEOs receive 100% of their compensation in performance-based PSUs with no base salary or cash bonus, while other NEOs receive a mix of base salary, annual incentive, and long-term equity heavily weighted toward performance-based PSUs.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Meridian Compensation Partners, LLC |
| 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 |
|---|---|---|---|---|---|---|---|
| William Hickey | PSU | 2025-02-18 | 43,905 | 585,399 | — | 1,756,197 | $11,432,842 |
| James Walter | PSU | 2025-02-18 | 43,905 | 585,399 | — | 1,756,197 | 11,432,842 |
| Guy Oliphint | PSU | 2025-02-18 | 11,364 | 151,515 | — | 454,545 | 2,959,088 |
| John Bell | PSU | 2025-02-18 | 11,364 | 151,515 | — | 454,545 | 2,959,088 |
| Robert Shannon | PSU | 2025-02-18 | 11,364 | 151,515 | — | 454,545 | 2,959,088 |
| John Bell | RSU | 2025-02-18 | — | — | 37,879 | — | 541,670 |
| John Bell | RSU | 2025-09-02 | — | — | 38,787 | — | 562,799 |
| Guy Oliphint | RSU | 2025-02-18 | — | — | 37,879 | — | 541,670 |
| Guy Oliphint | RSU | 2025-09-02 | — | — | 38,787 | — | 562,799 |
| Robert Shannon | RSU | 2025-02-18 | — | — | 37,879 | — | 541,670 |
| Robert Shannon | RSU | 2025-09-02 | — | — | 38,787 | — | 562,799 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| William Hickey | $0 | $11,432,842 | $0 | 100.0% |
| James Walter | 0 | 11,432,842 | 0 | 100.0% |
| Guy Oliphint | 1,104,469 | 2,959,088 | 0 | 72.8% |
| John Bell | 1,104,469 | 2,959,088 | 0 | 72.8% |
| Robert Shannon | 1,104,469 | 2,959,088 | 0 | 72.8% |
% 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 |
|---|---|---|---|---|
| Robert Shannon | RSU | 18,323 | — | $257,072 |
| John Bell | RSU | 19,028 | — | 266,963 |
| Guy Oliphint | RSU | 33,827 | — | 474,593 |
| Guy Oliphint | RSU | 33,871 | — | 475,210 |
| Guy Oliphint | RSU | 37,879 | — | 531,442 |
| John Bell | RSU | 37,879 | — | 531,442 |
| Robert Shannon | RSU | 37,879 | — | 531,442 |
| Guy Oliphint | RSU | 38,787 | — | 544,182 |
| John Bell | RSU | 38,787 | — | 544,182 |
| Robert Shannon | RSU | 38,787 | — | 544,182 |
| Robert Shannon | PSU | 192,390 | — | 2,699,232 |
| John Bell | PSU | 199,788 | — | 2,803,026 |
| Guy Oliphint | PSU | 355,179 | — | 4,983,161 |
| Guy Oliphint | PSU | 454,545 | — | 6,377,266 |
| John Bell | PSU | 454,545 | — | 6,377,266 |
| Robert Shannon | PSU | 454,545 | — | 6,377,266 |
| William Hickey | PSU | 1,756,197 | — | 24,639,444 |
| James Walter | PSU | 1,756,197 | — | 24,639,444 |
| William Hickey | PSU | 1,787,844 | — | 25,083,451 |
| James Walter | PSU | 1,787,844 | — | 25,083,451 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Steven D. GrayIndependent · Board Chair · Compensation · Nominating and Corporate Governance (Chair) | $0 | $439,865 | — | — | — | $439,865 |
| Jeffrey H. TepperIndependent · Audit (Chair) · Nominating and Corporate Governance | 0 | 298,038 | — | — | — | 298,038 |
| Maire A. BaldwinIndependent · Audit · Compensation (Chair) | 0 | 295,638 | — | — | — | 295,638 |
| Robert M. TichioIndependent · Compensation · Environmental, Social and Governance (Chair) | 0 | 290,839 | — | — | — | 290,839 |
| Aron MarquezIndependent · Compensation · Environmental, Social and Governance | 0 | 276,417 | — | — | — | 276,417 |
| Karan E. EvesIndependent · Audit · Nominating and Corporate Governance | 0 | 276,417 | — | — | — | 276,417 |
| Robert J. AndersonDeparted during FY | 0 | 276,417 | — | — | — | 276,417 |
| Frost W. CochranIndependent · Audit · Environmental, Social and Governance | 0 | 0 | — | — | — | — |
| William J. QuinnNot independent | 0 | 0 | — | — | — | — |
Board fee structure and ownership guideline
| Annual cash retainer | $87,500 |
|---|---|
| Annual equity retainer | $200,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 22,500 / 20,000 / 15,000 |
| Stock ownership guideline | $612,500 |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $0 |
| Equity awards (grant-date value) | $2,153,631 |
| All other compensation | $0 |
| Total cost of the board | $2,153,631 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Permian Resources as a peer
Companies that benchmark against CDEV
No companies currently name CDEV as a compensation peer in their most recent disclosure.
This is the complete answer, not a partial one — the list is never padded.
Disclosed peer group — fiscal year 2025
The compensation peer group as the company disclosed it in its own proxy, which names it the “Compensation Peer Group” — the reference set behind the percentile above.
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 | HighPeak Energy, Inc. | 2025 | Antonio Neri | $1,350,000 | $19,628,955 | $0 | $2,408,832 | $23,482,721 |
| 2 | EQT Corporation | 2025 | Toby Rice | 1 | 13,552,232 | 0 | 2,535,000 | 16,087,233 |
| 3 | Diamondback Energy, Inc. | 2025 | Kaes Van t Hof | 1,109,500 | 11,101,462 | 0 | 2,676,350 | 14,931,423 |
| 4 | Coterra Energy Inc. | 2024 | Thomas Jorden | 1,198,558 | 10,628,850 | 0 | 2,500,000 | 14,748,960 |
| 5 | Ovintiv Inc. | 2025 | Brendan McCracken | 1,185,000 | 9,900,005 | 0 | 2,136,750 | 13,693,140 |
| 6 | APA Corporation | 2025 | John Christmann IV | 1,300,000 | 6,018,436 | 1,897,996 | 3,454,360 | 13,202,517 |
| 7 | Devon Energy Corporation | 2025 | Clay Gaspar | 938,125 | 9,633,689 | 0 | 1,612,000 | 12,566,384 |
| 8 | Permian Resources Corp | 2025 | William Hickey | 0 | 11,432,842 | 0 | 0 | 11,432,842 |
| 9 | Expand Energy Corporation | 2025 | Domenic Dell'Osso | 947,346 | 8,890,444 | — | — | 9,879,106 |
| 10 | Matador Resources Company | 2025 | Joseph Foran | 1,800,000 | 4,222,400 | 0 | 3,726,000 | 9,775,611 |
| 11 | Chord Energy Corporation | 2025 | Daniel Brown | 850,000 | 6,362,910 | 0 | 1,275,000 | 8,567,235 |
| 12 | Civitas Resources, Inc. | 2024 | M. Christopher Doyle | 1,431,150 | 6,933,919 | 0 | 0 | 8,385,769 |
| 13 | SM Energy Company | 2025 | Herbert Vogel | 889,262 | 5,500,001 | 0 | 992,416 | 7,878,612 |
| 14 | Murphy Oil Corporation | 2025 | Eric Hambly | 950,000 | 4,917,315 | 0 | 1,324,063 | 7,651,445 |
| 15 | Magnolia Oil & Gas Corporation | 2025 | Christopher Stavros | 870,192 | 4,314,309 | 0 | 1,480,500 | 6,693,001 |
| 16 | Antero Resources Corporation | 2025 | Michael Kennedy | 655,470 | 4,325,734 | 0 | 1,678,307 | 6,687,656 |
| 17 | Northern Oil and Gas, Inc. | 2025 | Nicholas O'Grady | 925,000 | 2,815,683 | 0 | 1,638,564 | 5,602,413 |
| 18 | Range Resources Corporation | 2025 | Stuart Bodden | 639,423 | 2,534,702 | 0 | 0 | 3,722,785 |
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 |
|---|---|---|---|---|
| Permian Resources Corp | not disclosed | not disclosed | not disclosed | Meridian Compensation Partners, LLC |
| Antero Resources Corporation | 157.2% | PSU 50 · RSU 50 | Yes — Absolute TSR | CBIZ Compensation Consulting |
| APA Corporation | 189.8% | PSU 60 · Options 20 · RSU 20 | Yes — Relative TSR | Pearl Meyer & Partners, LLC |
| Chord Energy Corporation | not disclosed | PSU 67 · RSU 33 | not disclosed | Meridian Compensation Partners, LLC |
| Civitas Resources, Inc. | not disclosed | PSU 70 · RSU 30 | Yes — Absolute TSR | Meridian Compensation Partners, LLC |
| Coterra Energy Inc. | 174% | PSU 50 · RSU 50 | Yes — Relative TSR | F.W. Cook and Zayla Partners |
| Devon Energy Corporation | 124% | PSU 60 · RSU 40 | Yes — Relative TSR | Meridian Compensation Partners, LLC |
| Diamondback Energy, Inc. | 161% | PSU 60 · RSU 40 | Yes — Total Stockholder Return (relative to TSR performance peer group) | Meridian |
| EQT Corporation | 169% | PSU 60 · RSU 40 | No | Meridian Compensation Partners, LLC |
| Expand Energy Corporation | not disclosed | PSU 70 · RSU 30 | Yes — Absolute TSR | Meridian Compensation Partners, LLC |
| HighPeak Energy, Inc. | 89% | not disclosed | Yes — relative TSR vs. S&P 500 | FW Cook |
| Magnolia Oil & Gas Corporation | not disclosed | RSU 50 · PSU 50 | not disclosed | FW Cook |
| Matador Resources Company | not disclosed | Cash LTI 50 · PSU 50 | No | Meridian Compensation Partners, LLC |
| Murphy Oil Corporation | not disclosed | not disclosed | not disclosed | Meridian Compensation Partners LLC |
| Northern Oil and Gas, Inc. | 136.5% | MSU 88 · RSU 12 | Yes — 3-Year Absolute TSR | Willis Towers Watson |
| Ovintiv Inc. | 140% | RSU 50 · PSU 50 | Yes — Relative TSR | FW Cook |
| Range Resources Corporation | not disclosed | not disclosed | not disclosed | Meridian Compensation Consultants, LLC |
| SM Energy Company | 93% | PSU 60 · RSU 40 | Yes — Absolute TSR | Frederic W. Cook & Co., Inc. |
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
No say-on-pay vote is on file for this company.
CEO pay ratio
| Ratio (CEO : median employee) | 73 : 1 |
|---|---|
| CEO total compensation | $11,432,842 |
| Median employee compensation | $155,801 |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (47 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, James Walter. DEF 14A, filed 2026-04-06. Section “SUMMARY COMPENSATION TABLE” · page 46. As printed: 11,432,842. View filing ↗
- Section 01, William Hickey. DEF 14A, filed 2026-04-06. Section “SUMMARY COMPENSATION TABLE” · page 46. As printed: 11,432,842. View filing ↗
- Section 01, Guy Oliphint. DEF 14A, filed 2026-04-06. Section “SUMMARY COMPENSATION TABLE” · page 46. As printed: 5,265,566. View filing ↗
- Section 01, Robert Shannon. DEF 14A, filed 2026-04-06. Section “SUMMARY COMPENSATION TABLE” · page 46. As printed: 4,962,890. View filing ↗
- Section 01, John Bell. DEF 14A, filed 2026-04-06. Section “SUMMARY COMPENSATION TABLE” · page 46. As printed: 4,958,832. View filing ↗
- Section 03, William Hickey PSU. DEF 14A, filed 2026-04-06. Section “GRANTS OF PLAN‑BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, James Walter PSU. DEF 14A, filed 2026-04-06. Section “GRANTS OF PLAN‑BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, Guy Oliphint PSU. DEF 14A, filed 2026-04-06. Section “GRANTS OF PLAN‑BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, John Bell PSU. DEF 14A, filed 2026-04-06. Section “GRANTS OF PLAN‑BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, Robert Shannon PSU. DEF 14A, filed 2026-04-06. Section “GRANTS OF PLAN‑BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, John Bell RSU. DEF 14A, filed 2026-04-06. Section “GRANTS OF PLAN‑BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, John Bell RSU. DEF 14A, filed 2026-04-06. Section “GRANTS OF PLAN‑BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, Guy Oliphint RSU. DEF 14A, filed 2026-04-06. Section “GRANTS OF PLAN‑BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, Guy Oliphint RSU. DEF 14A, filed 2026-04-06. Section “GRANTS OF PLAN‑BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, Robert Shannon RSU. DEF 14A, filed 2026-04-06. Section “GRANTS OF PLAN‑BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, Robert Shannon RSU. DEF 14A, filed 2026-04-06. Section “GRANTS OF PLAN‑BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-04-06. Section “CEO Pay Ratio”. As printed: 73 : 1. View filing ↗
- Section 08, Steven D. Gray. DEF 14A, filed 2026-04-06. Section “Director Compensation”. As printed: 439,865. View filing ↗
- Section 08, Jeffrey H. Tepper. DEF 14A, filed 2026-04-06. Section “Director Compensation”. As printed: 298,038. View filing ↗
- Section 08, Maire A. Baldwin. DEF 14A, filed 2026-04-06. Section “Director Compensation”. As printed: 295,638. View filing ↗
- Section 08, Robert M. Tichio. DEF 14A, filed 2026-04-06. Section “Director Compensation”. As printed: 290,839. View filing ↗
- Section 08, Aron Marquez. DEF 14A, filed 2026-04-06. Section “Director Compensation”. As printed: 276,417. View filing ↗
- Section 08, Karan E. Eves. DEF 14A, filed 2026-04-06. Section “Director Compensation”. As printed: 276,417. View filing ↗
- Section 08, Robert J. Anderson. DEF 14A, filed 2026-04-06. Section “Director Compensation”. As printed: 276,417. View filing ↗
- Section 08, Frost W. Cochran. DEF 14A, filed 2026-04-06. Section “Director Compensation”. As printed: —. View filing ↗
- Section 08, William J. Quinn. DEF 14A, filed 2026-04-06. Section “Director Compensation”. As printed: —. 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 0 + equity 2,153,631 + all other 0 = 2,153,631, summed across the director compensation table rows.
- HighPeak Energy, Inc., Section 10b CEO total. DEF 14A, filed 2026-02-11. CEO total compensation as printed in HighPeak Energy, Inc.'s own proxy. As printed: 23,482,721. View filing ↗
- EQT Corporation, Section 10b CEO total. DEF 14A, filed 2026-02-26. CEO total compensation as printed in EQT Corporation's own proxy. As printed: 16,087,233. View filing ↗
- Diamondback Energy, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-09. CEO total compensation as printed in Diamondback Energy, Inc.'s own proxy. As printed: 14,931,423. View filing ↗
- Coterra Energy Inc., Section 10b CEO total. DEF 14A, filed 2025-03-20. CEO total compensation as printed in Coterra Energy Inc.'s own proxy. As printed: 14,748,960. View filing ↗
- Ovintiv Inc., Section 10b CEO total. DEF 14A, filed 2026-03-25. CEO total compensation as printed in Ovintiv Inc.'s own proxy. As printed: 13,693,140. View filing ↗
- APA Corporation, Section 10b CEO total. DEF 14A, filed 2026-04-09. CEO total compensation as printed in APA Corporation's own proxy. As printed: 13,202,517. View filing ↗
- Devon Energy Corporation, Section 10b CEO total. DEF 14A, filed 2026-05-28. CEO total compensation as printed in Devon Energy Corporation's own proxy. As printed: 12,566,384. View filing ↗
- Permian Resources Corp (subject), Section 10b CEO total. DEF 14A, filed 2026-04-06. CEO total compensation as printed in Permian Resources Corp's own proxy. As printed: 11,432,842. View filing ↗
- Expand Energy Corporation, Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in Expand Energy Corporation's own proxy. As printed: 9,879,106. View filing ↗
- Matador Resources Company, Section 10b CEO total. DEF 14A, filed 2026-04-29. CEO total compensation as printed in Matador Resources Company's own proxy. As printed: 9,775,611. View filing ↗
- Chord Energy Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-19. CEO total compensation as printed in Chord Energy Corporation's own proxy. As printed: 8,567,235. View filing ↗
- Civitas Resources, Inc., Section 10b CEO total. DEF 14A, filed 2025-04-21. CEO total compensation as printed in Civitas Resources, Inc.'s own proxy. As printed: 8,385,769. View filing ↗
- SM Energy Company, Section 10b CEO total. DEF 14A, filed 2026-04-08. CEO total compensation as printed in SM Energy Company's own proxy. As printed: 7,878,612. View filing ↗
- Murphy Oil Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-27. CEO total compensation as printed in Murphy Oil Corporation's own proxy. As printed: 7,651,445. View filing ↗
- Magnolia Oil & Gas Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-24. CEO total compensation as printed in Magnolia Oil & Gas Corporation's own proxy. As printed: 6,693,001. View filing ↗
- Antero Resources Corporation, Section 10b CEO total. DEF 14A, filed 2026-04-23. CEO total compensation as printed in Antero Resources Corporation's own proxy. As printed: 6,687,656. View filing ↗
- Northern Oil and Gas, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-10. CEO total compensation as printed in Northern Oil and Gas, Inc.'s own proxy. As printed: 5,602,413. View filing ↗
- Range Resources Corporation, Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in Range Resources Corporation's own proxy. As printed: 3,722,785. View filing ↗