Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-03

Comstock Resources (CRK)

CEO M. Jay Allison was paid $21,934,257 in fiscal year 2025, ↑ up 75.0% from fiscal year 2024, the 99th percentile of its disclosed peer group (SEC filing 0001193125-26-170561 ↗): 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.

$21,934,257 ↑
M. Jay Allison total, FY2025
99th
CEO pay percentile vs peers
142:1
CEO-to-median pay ratio
99.8%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- M. Jay Allison (Chief Executive Officer), FY2025 total compensation $21,934,257 (base salary $1,039,500) [exec_comp, SEC accession 0001193125-26-170561, filed 2026-04-22]

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CRK's next annual pay disclosure, estimated April 22, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
M. Jay Allison$1,039,500$1,271,290$16,549,171$0$2,013,512$729,657$331,127$21,934,257
Chief Executive Officer
Roland Burns656,000647,9935,027,80701,026,312481,538172,9938,012,643
President and Chief Financial Officer
Daniel Harrison577,500516,1222,655,7040817,45145,16725,2934,637,237
Chief Operating Officer
Clifford D. "Trey" Newell472,500377,8311,448,5610598,4217,35221,7842,926,449
Chief Commercial Officer
Patrick McGough378,000266,704724,2530422,41519,32121,8441,832,537
Vice President of Operations

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
M. Jay Allison$21,934,257$12,535,532$9,916,144↑ +9,398,725
Roland Burns8,012,6436,437,6385,774,326↑ +1,575,005
Daniel Harrison4,637,2373,710,2982,013,323↑ +926,939
Clifford D. "Trey" Newell2,926,4492,284,2961,010,214↑ +642,153
Patrick McGough1,832,5371,588,174838,960↑ +244,363

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

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Companies that benchmark against CRK
12 companies name CRK as a compensation peer

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

01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Elizabeth B. DavisIndependent Director$314,500
Jim L. TurnerLead Independent Director$353,750
Morris E. FosterIndependent Director$298,000
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
M. Jay AllisonRSU———303,265—$5,398,117
M. Jay AllisonPSU—151,633303,265—606,53011,151,054
Patrick McGoughRSU———13,272—236,242
Roland BurnsPSU—46,06892,135—184,2703,387,804
Patrick McGoughPSU—6,63613,272—26,544488,011
Daniel HarrisonPSU—24,33348,666—97,3321,789,449
Daniel HarrisonRSU———48,666—866,255
Roland BurnsRSU———92,135—1,640,003
Clifford D. "Trey" NewellRSU———26,545—472,501
Clifford D. "Trey" NewellPSU—13,27326,545—53,090976,060
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
M. Jay Allison$5,398,117$11,151,054$067.4%
Patrick McGough236,242488,011067.4%
Roland Burns1,640,0033,387,804067.4%
Daniel Harrison866,2551,789,449067.4%
Clifford D. "Trey" Newell472,501976,060067.4%

% 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
Roland BurnsRSU158,376—$3,671,156
Daniel HarrisonRSU102,040—2,365,287
Daniel HarrisonRSU60,070—1,392,423
Patrick McGoughRSU13,272—307,645
Daniel HarrisonRSU77,544—1,797,470
Roland BurnsRSU92,135—2,135,689
Daniel HarrisonRSU48,666—1,128,078
M. Jay AllisonRSU648,754—15,038,118
M. Jay AllisonRSU606,530—14,059,365
M. Jay AllisonRSU308,814—7,158,309
M. Jay AllisonRSU303,265—7,029,683
Roland BurnsRSU286,698—6,645,660
M. Jay AllisonRSU269,388—6,244,414
Roland BurnsRSU184,270—4,271,379
Roland BurnsRSU183,674—4,257,563
Clifford D. "Trey" NewellRSU6,735—156,117
Daniel HarrisonRSU180,210—4,177,268
M. Jay AllisonRSU180,205—4,177,152
Daniel HarrisonRSU97,332—2,256,156
Roland BurnsRSU97,215—2,253,444
M. Jay AllisonRSU91,179—2,113,529
Clifford D. "Trey" NewellRSU88,466—2,050,642
Roland BurnsRSU62,018—1,437,577
Clifford D. "Trey" NewellRSU58,621—1,358,835
Clifford D. "Trey" NewellRSU53,090—1,230,626
Patrick McGoughRSU47,182—1,093,679
Patrick McGoughRSU42,730—990,482
Clifford D. "Trey" NewellRSU40,408—936,657
Clifford D. "Trey" NewellRSU29,489—683,555
Patrick McGoughRSU27,756—643,384
Clifford D. "Trey" NewellRSU26,545—615,313
Patrick McGoughRSU26,544—615,290
Daniel HarrisonRSU17,008—394,245
Patrick McGoughRSU15,728—364,575
Patrick McGoughRSU4,626—107,231
05

Incentive-plan design — the Compensation Discussion & Analysis

Our executive compensation programs are intended to align pay outcomes with performance achievements, grow stockholder value, attract and retain executive talent and support our business strategy.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantMeridian Compensation Partners, LLC
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-02264,508,945526,507432,34499.8%Passed
20232023-06-06241,559,0262,250,750149,01899.08%Passed
20202020-06-03177,948,350298,172342,39699.83%Passed
20172017-05-167,902,158295,76751,86396.39%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
20262026-06-0299.8%a
20232023-06-0699.08%b
20202020-06-0399.83%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.

07

CEO pay ratio

Ratio (CEO : median employee)142 : 1
CEO total compensation$21,934,257
Median employee compensation—
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Jim L. TurnerIndependent · Lead Independent Director$153,750$200,000———$353,750
Elizabeth B. DavisIndependent114,500200,000———314,500
Morris E. FosterIndependent98,000200,000———298,000
Roland O. BurnsEmployee director—————0
M. Jay AllisonEmployee director · Board Chair—————0
09

Board fee structure and ownership guideline

Annual cash retainer$83,000
Annual equity retainer$200,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)31,500 / 20,750 / 15,000
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$366,250
Equity awards (grant-date value)$600,000
All other compensation$0
Total cost of the board$966,250

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

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 Comstock 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 Comstock 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
1Infinity Natural Resources, Inc.2025Zack Arnold$410,349$2,899,009$34,959,578$552,500$38,880,448
2Comstock Resources2025M. Jay Allison1,039,50016,549,17102,013,51221,934,257
3EQT Corporation2025Toby Rice113,552,23202,535,00016,087,233
4Coterra Energy Inc.2024Thomas Jorden1,198,55810,628,85002,500,00014,748,960
5Expand Energy Corporation2025Domenic Dell'Osso947,3468,890,444——9,879,106
6Matador Resources Corporation2025Joseph Foran1,800,0004,222,40003,726,0009,775,611
7Chord Energy Corporation2025Daniel Brown850,0006,362,91001,275,0008,567,235
8Range Resources Corporation2025Dennis Degner932,5006,143,87701,128,0008,375,421
9CNX Resources Corporation2025Nicholas DeIuliis800,0003,000,02402,396,0007,420,318
10Gulfport Energy Corporation2025John Reinhart919,7265,277,43701,098,9007,323,707
11Antero Resources Corporation2025Michael Kennedy655,4704,325,73401,678,3076,687,656
12BKV Corporation2025Christopher Kalnin795,3863,411,01401,676,4015,903,801
13SM Energy Company2025Elizabeth McDonald576,3692,299,9950536,0244,475,172

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
Comstock Resourcesnot disclosednot disclosednot disclosedMeridian Compensation Partners, LLC
Antero Resources Corporation157.2%PSU 50 · RSU 50Yes — Absolute TSRCBIZ Compensation Consulting
BKV Corporationnot disclosedPRSUs 67 · TRSUs 33NoWillis Towers Watson plc (WTW)
Chord Energy Corporationnot disclosednot disclosednot disclosedMeridian Compensation Partners, LLC
CNX Resources Corporationnot disclosedRSU 50 · PSU 40 · ESG PSU 10not disclosednot disclosed
Coterra Energy Inc.174%PSU 50 · RSU 50Yes — Relative TSRF.W. Cook and Zayla Partners
EQT Corporation169%PSU 60 · RSU 40NoMeridian Compensation Partners, LLC
Expand Energy Corporationnot disclosedPSU 70 · RSU 30Yes — Absolute TSRMeridian Compensation Partners, LLC
Gulfport Energy Corporationnot disclosedPRSU 60 · RSU 40not disclosedWTW
Infinity Natural Resources, Inc.not disclosednot disclosednot disclosednot disclosed
Matador Resources Corporationnot disclosedCash LTI 50 · PSU 50NoMeridian Compensation Partners, LLC
Range Resources Corporationnot disclosedPSU 60 · RSU 40Yes — Total Stockholder Return (TSR)Meridian Compensation Partners, LLC
SM Energy Company93%PSU 60 · RSU 40Yes — Absolute TSRFrederic 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.

10d

Frequently asked questions

Who was the highest-paid executive at Comstock Resources in fiscal 2025?
As disclosed, M. Jay Allison (Chief Executive Officer) was the highest-paid executive at Comstock Resources in fiscal 2025, with total compensation of $21,934,257.
How does Comstock Resources's chief executive pay compare to its disclosed peer group?
As disclosed, M. Jay Allison's total compensation ranked at the 99th percentile of Comstock Resources's disclosed peer group.
What is Comstock Resources's CEO-to-median employee pay ratio?
As disclosed, Comstock Resources's CEO-to-median employee pay ratio was 142:1.
How did shareholders vote on Comstock Resources's executive compensation?
As disclosed, 99.8% of shareholders supported Comstock Resources's executive compensation in the latest say-on-pay vote.
How much does Comstock Resources spend in total on board compensation for fiscal 2025?
As disclosed, Comstock Resources reported total board compensation of $966,250 for fiscal 2025.

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.

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, M. Jay AllisonDEF 14A2026-04-220001193125-26-170561Section “Summary Compensation Table” · page 31. As printed: 21,934,257. Filing ↗machine: span 869756–869766
2Section 01, Roland BurnsDEF 14A2026-04-220001193125-26-170561Section “Summary Compensation Table” · page 31. As printed: 8,012,643. Filing ↗machine: span 902756–902765
3Section 01, Daniel HarrisonDEF 14A2026-04-220001193125-26-170561Section “Summary Compensation Table” · page 31. As printed: 4,637,237. Filing ↗machine: span 935762–935771
4Section 01, Clifford D. "Trey" NewellDEF 14A2026-04-220001193125-26-170561Section “Summary Compensation Table” · page 31. As printed: 2,926,449. Filing ↗machine: span 968746–968755
5Section 01, Patrick McGoughDEF 14A2026-04-220001193125-26-170561Section “Summary Compensation Table” · page 31. As printed: 1,832,537. Filing ↗machine: span 1001709–1001718
6Section 03, M. Jay Allison RSUDEF 14A1900-01-010001193125-26-170561Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: span 765062–765071
7Section 03, M. Jay Allison PSUDEF 14A1900-01-010001193125-26-170561Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: span 790744–790754
8Section 03, Patrick McGough RSUDEF 14A1900-01-010001193125-26-170561Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: span 780486–780493
9Section 03, Roland Burns PSUDEF 14A1900-01-010001193125-26-170561Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: span 794539–794548
10Section 03, Patrick McGough PSUDEF 14A1900-01-010001193125-26-170561Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: span 806171–806178
11Section 03, Daniel Harrison PSUDEF 14A1900-01-010001193125-26-170561Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: span 798322–798331
12Section 03, Daniel Harrison RSUDEF 14A1900-01-010001193125-26-170561Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: span 772639–772646
13Section 03, Roland Burns RSUDEF 14A1900-01-010001193125-26-170561Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: span 768856–768865
14Section 03, Clifford D. "Trey" Newell RSUDEF 14A1900-01-010001193125-26-170561Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: span 776428–776435
15Section 03, Clifford D. "Trey" Newell PSUDEF 14A1900-01-010001193125-26-170561Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: span 802113–802120
16Section 07, pay ratioDEF 14A2026-04-220001193125-26-170561Section “CEO Pay Ratio”. As printed: 142 : 1. Filing ↗
17Section 08, Jim L. TurnerDEF 14A2026-04-220001193125-26-170561Section “Director Compensation”. As printed: 353,750. Filing ↗machine: span 417686–417895
18Section 08, Elizabeth B. DavisDEF 14A2026-04-220001193125-26-170561Section “Director Compensation”. As printed: 314,500. Filing ↗machine: span 407958–408167
19Section 08, Morris E. FosterDEF 14A2026-04-220001193125-26-170561Section “Director Compensation”. As printed: 298,000. Filing ↗machine: span 412619–412828
20Section 08, Roland O. BurnsDEF 14A2026-04-220001193125-26-170561Section “Director Compensation”. As printed: 0. Filing ↗
21Section 08, M. Jay AllisonDEF 14A2026-04-220001193125-26-170561Section “Director Compensation”. As printed: 0. Filing ↗
22Section 06, 2026 voteForm 8-K2026-06-030001193125-26-254873Item 5.07 · say-on-pay result. As reported: 99.8% (votes for as printed: 264,508,945). Filing ↗
23Section 06, 2023 voteForm 8-K2023-06-070000023194-23-000022Item 5.07 · say-on-pay result. As reported: 99.08% (votes for as printed: 241,559,026). Filing ↗
24Section 06, 2020 voteForm 8-K2020-06-030001564590-20-028225Item 5.07 · say-on-pay result. As reported: 99.83% (votes for as printed: 177,948,350). Filing ↗
25Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
26Section 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).machine: formula: sums + PSU ratio
27Section 09b board cost (computed)Computed——Cash 366,250 + equity 600,000 + all other 0 = 966,250, summed across the director compensation table rows.machine: formula: Σ = 966,250
28Infinity Natural Resources, Inc., Section 10b CEO totalDEF 14A2026-04-240002029118-26-000041CEO total compensation as printed in Infinity Natural Resources, Inc.'s own proxy. As printed: 38,880,448. Filing ↗machine: r2 · c48 · span 196945–196956
29Comstock Resources (subject), Section 10b CEO totalDEF 14A2026-04-220001193125-26-170561CEO total compensation as printed in Comstock Resources's own proxy. As printed: 21,934,257. Filing ↗machine: span 869756–869766
30EQT Corporation, Section 10b CEO totalDEF 14A2026-02-260001104659-26-020027CEO total compensation as printed in EQT Corporation's own proxy. As printed: 16,087,233. Filing ↗machine: r1 · c48 · span 1446364–1446374
31Coterra Energy Inc., Section 10b CEO totalDEF 14A2025-03-200001104659-25-026126CEO total compensation as printed in Coterra Energy Inc.'s own proxy. As printed: 14,748,960. Filing ↗machine: span 936374–936384
32Expand Energy Corporation, Section 10b CEO totalDEF 14A2026-04-240001104659-26-048155CEO total compensation as printed in Expand Energy Corporation's own proxy. As printed: 9,879,106. Filing ↗
33Matador Resources Corporation, Section 10b CEO totalDEF 14A2026-04-290001520006-26-000013CEO total compensation as printed in Matador Resources Corporation's own proxy. As printed: 9,775,611. Filing ↗machine: r2 · c6 · span 1657541–1657551
34Chord Energy Corporation, Section 10b CEO totalDEF 14A2026-03-190001486159-26-000010CEO total compensation as printed in Chord Energy Corporation's own proxy. As printed: 8,567,235. Filing ↗machine: span 1305435–1305444
35Range Resources Corporation, Section 10b CEO totalDEF 14A2026-03-310001193125-26-134699CEO total compensation as printed in Range Resources Corporation's own proxy. As printed: 8,375,421. Filing ↗machine: span 2305762–2305771
36CNX Resources Corporation, Section 10b CEO totalDEF 14A2026-03-260001308179-26-000153CEO total compensation as printed in CNX Resources Corporation's own proxy. As printed: 7,420,318. Filing ↗machine: r1 · c25 · span 718010–718019
37Gulfport Energy Corporation, Section 10b CEO totalDEF 14A2026-04-080001213900-26-041489CEO total compensation as printed in Gulfport Energy Corporation's own proxy. As printed: 7,323,707. Filing ↗machine: r13 · c6 · span 1324664–1324674
38Antero Resources Corporation, Section 10b CEO totalDEF 14A2026-04-230001308179-26-000330CEO total compensation as printed in Antero Resources Corporation's own proxy. As printed: 6,687,656. Filing ↗machine: t260 · r1 · c27 · span 557200–557209
39BKV Corporation, Section 10b CEO totalDEF 14A2026-04-280001104659-26-050381CEO total compensation as printed in BKV Corporation's own proxy. As printed: 5,903,801. Filing ↗machine: r1 · c50 · span 772545–772554
40SM Energy Company, Section 10b CEO totalDEF 14A2026-04-080000893538-26-000048CEO total compensation as printed in SM Energy Company's own proxy. As printed: 4,475,172. Filing ↗machine: span 673171–673180
41Section 10a, Coterra Energy Inc. reciprocityDEF 14A—0001104659-25-026126Coterra Energy Inc.'s most recent proxy was read; its disclosed peer group does not include Comstock Resources. Filing ↗
42Section 10a, Matador Resources Corporation reciprocityDEF 14A—0001520006-26-000013Matador Resources Corporation names Comstock Resources in its own disclosed peer group (read from its most recent proxy). Filing ↗
43Section 10a, SM Energy Company reciprocityDEF 14A—0000893538-26-000048SM Energy Company names Comstock Resources in its own disclosed peer group (read from its most recent proxy). Filing ↗
44Section 10a, CNX Resources Corporation reciprocityDEF 14A—0001308179-26-000153CNX Resources Corporation's most recent proxy was read; its disclosed peer group does not include Comstock Resources. Filing ↗
45Section 10a, Antero Resources Corporation reciprocityDEF 14A—0001308179-26-000330Antero Resources Corporation's most recent proxy was read; its disclosed peer group does not include Comstock Resources. Filing ↗
46Section 10a, Range Resources Corporation reciprocityDEF 14A—0001193125-26-134699Range Resources Corporation names Comstock Resources in its own disclosed peer group (read from its most recent proxy). Filing ↗
47Section 10a, Expand Energy Corporation reciprocityDEF 14A—0001104659-26-048155Expand Energy Corporation's most recent proxy was read; its disclosed peer group does not include Comstock Resources. Filing ↗
48Section 10a, EQT Corporation reciprocityDEF 14A—0001104659-26-020027EQT Corporation's most recent proxy was read; its disclosed peer group does not include Comstock Resources. Filing ↗
49Section 10a, Gulfport Energy Corporation reciprocityDEF 14A—0001213900-26-041489Gulfport Energy Corporation names Comstock Resources in its own disclosed peer group (read from its most recent proxy). Filing ↗
50Section 10a, Chord Energy Corporation reciprocityDEF 14A—0001486159-26-000010Chord Energy Corporation names Comstock Resources in its own disclosed peer group (read from its most recent proxy). Filing ↗