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Companies DT Midstream

DT Midstream (DTM): executive pay, fiscal 2025

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CEO total pay$9,328,071CEO David Slater · source
Say-on-pay support96.05%Latest vote · source
CEO vs. named peers44th pct.Of 14 peer CEOs
CEO pay ratio82:1To the median employee · source

CEO pay, last three years

  • $7,971,250FY2023
  • $9,045,802FY2024
  • $9,328,071FY2025

CEO total pay was $9,328,071 in fiscal 2025, up from $9,045,802 in fiscal 2024.

FY2025: salary $852,203 · bonus $0 · stock awards $6,282,371 · option awards $0

Executives and directors

Frequently asked questions

Who was the highest-paid executive at DT Midstream in fiscal 2025?
As disclosed, David Slater (Executive Chairman and Chief Executive Officer) was the highest-paid executive at DT Midstream in fiscal 2025, with total compensation of $9,328,071.
How does DT Midstream's chief executive pay compare to its disclosed peer group?
As disclosed, David Slater's total compensation ranked at the 44th percentile of DT Midstream's disclosed peer group.
What is DT Midstream's CEO-to-median employee pay ratio?
As disclosed, DT Midstream's CEO-to-median employee pay ratio was 82:1.
How did shareholders vote on DT Midstream's executive compensation?
As disclosed, 96.05% of shareholders supported DT Midstream's executive compensation in the latest say-on-pay vote.
How much does DT Midstream spend in total on board compensation for fiscal 2025?
As disclosed, DT Midstream reported total board compensation of $1,490,000 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.

Full detail

Every table from the filing. Open any section.

Summary compensation table
Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
David Slater$852,203$0$6,282,371$0$1,839,938$0$353,559$9,328,071
Executive Chairman and Chief Executive Officer
Christopher Zona536,92301,736,1270914,9570155,8173,343,824
President and Chief Operating Officer
Jeffrey Jewell514,61501,637,4220793,6240182,4613,128,122
Executive Vice President and Chief Financial Officer
Wendy Ellis468,55801,095,6510622,6900146,4982,333,397
Executive Vice President, General Counsel and Corporate Secretary
Melissa Cox435,5770474,0130509,369048,4451,467,404
Executive Vice President and Chief Administrative Officer

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
David Slater$9,328,071$9,045,802$7,971,250↑ +282,269
Christopher Zona3,343,8243,792,9782,938,912↓ −449,154
Jeffrey Jewell3,128,1223,585,9882,721,770↓ −457,866
Wendy Ellis2,333,3972,717,2501,861,516↓ −383,853
Melissa Cox1,467,4041,411,8661,150,007↑ +55,538

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

Our compensation philosophy is designed to align the interests of our executive officers with those of our stockholders by providing pay that is directly linked to the achievement of performance goals established to foster the creation of sustainable long-term stockholder value. At the root of our compensation philosophy is the use of variable, at-risk compensation that connects pay outcomes with superior results and growth execution.

CEO STI target (% of salary)140%
CEO LTI target (% of salary)—
Independent consultantMeridian Compensation Partners LLC
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
Equity grants and outstanding awards

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Wendy EllisPSU2025-02-253,9907,980—15,960$768,015
Christopher ZonaPSU2025-02-256,32312,645—25,2901,216,986
Melissa CoxPSU2025-02-251,7263,452—6,904332,229
Wendy EllisRSU2025-02-25——3,420—327,636
Jeffrey JewellPSU2025-02-255,96311,926—23,8521,147,788
David SlaterPSU2025-02-2520,32940,658—81,3163,913,028
Melissa CoxRSU2025-02-25——1,480—141,784
David SlaterRSU2025-01-28——7,071—700,029
David SlaterRSU2025-02-25——17,425—1,669,315
Jeffrey JewellRSU2025-02-25——5,111—489,634
Christopher ZonaRSU2025-02-25——5,419—519,140

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Wendy Ellis$327,636$768,015$070.1%
Christopher Zona519,1401,216,986070.1%
Melissa Cox141,784332,229070.1%
Jeffrey Jewell489,6341,147,788070.1%
David Slater2,369,3443,913,028062.3%

% 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

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Melissa CoxRSU1,516—$181,386
Melissa CoxRSU3,022—361,688
Wendy EllisRSU3,502—419,119
Christopher ZonaPSU3,615—432,643
Jeffrey JewellPSU3,615—432,643
Wendy EllisPSU3,615—432,643
Jeffrey JewellRSU5,234—626,405
Christopher ZonaRSU5,549—664,104
Wendy EllisRSU6,986—836,084
Melissa CoxPSU7,070—846,142
David SlaterPSU7,241—866,603
Jeffrey JewellRSU10,440—1,249,459
Christopher ZonaRSU11,070—1,324,858
Melissa CoxPSU13,288—1,590,349
Melissa CoxPSU14,102—1,687,706
Jeffrey JewellPSU15,891—1,901,835
Wendy EllisPSU16,344—1,956,050
David SlaterRSU17,844—2,135,570
Jeffrey JewellPSU24,426—2,923,304
Christopher ZonaPSU25,898—3,099,473
Wendy EllisPSU26,044—3,116,946
Wendy EllisPSU32,600—3,901,568
David SlaterRSU35,594—4,259,890
Jeffrey JewellPSU42,962—5,141,692
Christopher ZonaPSU44,293—5,300,986
Jeffrey JewellPSU48,720—5,830,810
Christopher ZonaPSU51,658—6,182,429
David SlaterPSU83,272—9,965,993
David SlaterPSU162,988—19,506,404
David SlaterPSU166,103—19,879,207
Director compensation
DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Robert Skaggs JrIndependent · Executive · Departed during FY$200,000$115,000———$315,000
Stephen BakerIndependent · Lead Independent Director · Audit · Corporate Governance · Finance (Chair) · Lead Independent Director135,000115,000———250,000
Elaine PickleIndependent120,000115,000———235,000
Peter TumminelloIndependent · Audit · ESG (Chair) · Finance115,000115,000———230,000
Dwayne WilsonIndependent115,000115,000———230,000
Angela ArchonIndependent115,000115,000———230,000
David SlaterEmployee director · Board Chair · Executive (Chair)000000

Board fee structure and ownership guideline

Annual cash retainer$100,000
Annual equity retainer$115,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)20,000 / 15,000 / 15,000
Stock ownership guideline5x annual cash retainer ($500,000)

Total cost of the board

ComponentFY2025
Cash retainers and fees$800,000
Equity awards (grant-date value)$690,000
All other compensation$0
Total cost of the board$1,490,000

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

Peer group, and who names DT Midstream as a peer

Companies that benchmark against DTM

9 companies name DTM as a compensation peer

Each company listed discloses DTM 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 DTM 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 DT Midstream 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
1Targa Resources Corp.2025Matthew Meloy$1,170,667$16,275,993$0$0$21,470,708
2Equitrans Midstream Corporation2023Thomas Karam790,2505,364,34401,715,88015,457,854
3HF Sinclair Corporation2025Timothy Go1,204,6159,977,38202,668,96814,278,553
4Plains All American Pipeline, LP2025Willie Chiang887,5008,435,82702,950,00012,295,167
5Oneok, Inc.2025Pierce Norton II1,000,0008,771,279—1,578,00012,003,335
6DT Midstream2025David Slater852,2036,282,37101,839,9389,328,071
7The Williams Companies, Inc.2025Chad Zamarin829,7885,999,96201,492,2558,682,793
8Kinetik Holdings Inc.2025Jamie Welch276,9235,140,8410487,5006,156,243
9Summit Midstream Corporation2025J. Heath Deneke766,9624,103,76001,047,1625,970,824
10Antero Midstream Corporation2025Michael Kennedy242,4344,344,8640789,7505,382,718
—Sunoco LP——————not in coverage universe
—Genesis Energy, LP——————not in coverage universe
—Western Midstream Partners, LP——————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.

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
DT Midstream152.62%PSU 70 · RSU 30NoMeridian Compensation Partners LLC
Antero Midstream Corporationnot disclosedRSU 75 · PSU 25not disclosedCBIZ Compensation Consulting
Equitrans Midstream Corporation181%PSU 55 · RSU 45Yes — Relative TSRPay Governance
Genesis Energy, LPnot disclosednot disclosednot disclosednot disclosed
HF Sinclair Corporation151.8%not disclosedNoMeridian Compensation Partners, LLC
Kinetik Holdings Inc.65%PSU 50 · RSU 50Yes — Annualized TSRMeridian Compensation Partners
Oneok, Inc.105.2%PSU 70 · RSU 30Yes — Total Shareholder Return (TSR)Meridian Compensation Partners
Plains All American Pipeline, LP131%RSU 50 · PSU 50Yes — Relative TSR with Negative TSR ModifierMeridian
Summit Midstream Corporationnot disclosednot disclosednot disclosednot disclosed
Sunoco LPnot disclosednot disclosednot disclosednot disclosed
Targa Resources Corp.190%PSU 50 · RSU 50Yes — Relative TSR vs. Alerian US Midstream Index (AMUS)Meridian Compensation Partners
The Williams Companies, Inc.136%PSU 60 · RSU 40Yes — Relative TSRFW Cook
Western Midstream Partners, LPnot 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.

Say-on-pay history and pay ratio
Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-0576,623,3513,153,825316,10996.05%Passed
20252025-05-0675,849,2023,168,792345,07195.99%Passed
20242024-05-1071,371,0034,091,886339,22494.58%Passed
20232023-05-0569,824,7195,408,331338,73192.81%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
20262026-05-0596.05%a
20252025-05-0695.99%b
20242024-05-1094.58%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.

CEO pay ratio

Ratio (CEO : median employee)82 : 1
CEO total compensation$9,328,071
Median employee compensation$113,688
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, David Slater. DEF 14A, filed 2026-03-26. Section “Summary Compensation Table” · page 43. As printed: 9,328,071. View filing ↗
  • Section 01, Christopher Zona. DEF 14A, filed 2026-03-26. Section “Summary Compensation Table” · page 43. As printed: 3,343,824. View filing ↗
  • Section 01, Jeffrey Jewell. DEF 14A, filed 2026-03-26. Section “Summary Compensation Table” · page 43. As printed: 3,128,122. View filing ↗
  • Section 01, Wendy Ellis. DEF 14A, filed 2026-03-26. Section “Summary Compensation Table” · page 43. As printed: 2,333,397. View filing ↗
  • Section 01, Melissa Cox. DEF 14A, filed 2026-03-26. Section “Summary Compensation Table” · page 43. As printed: 1,467,404. View filing ↗
  • Section 03, Wendy Ellis PSU. DEF 14A, filed 2026-03-26. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Christopher Zona PSU. DEF 14A, filed 2026-03-26. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Melissa Cox PSU. DEF 14A, filed 2026-03-26. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Wendy Ellis RSU. DEF 14A, filed 2026-03-26. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Jeffrey Jewell PSU. DEF 14A, filed 2026-03-26. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, David Slater PSU. DEF 14A, filed 2026-03-26. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Melissa Cox RSU. DEF 14A, filed 2026-03-26. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, David Slater RSU. DEF 14A, filed 2026-03-26. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, David Slater RSU. DEF 14A, filed 2026-03-26. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Jeffrey Jewell RSU. DEF 14A, filed 2026-03-26. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Christopher Zona RSU. DEF 14A, filed 2026-03-26. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 07, pay ratio. DEF 14A, filed 2026-03-26. Section “CEO Pay Ratio”. As printed: 82 : 1. View filing ↗
  • Section 08, Robert Skaggs Jr. DEF 14A, filed 2026-03-26. Section “Director Compensation”. As printed: 315,000. View filing ↗
  • Section 08, Stephen Baker. DEF 14A, filed 2026-03-26. Section “Director Compensation”. As printed: 250,000. View filing ↗
  • Section 08, Elaine Pickle. DEF 14A, filed 2026-03-26. Section “Director Compensation”. As printed: 235,000. View filing ↗
  • Section 08, Peter Tumminello. DEF 14A, filed 2026-03-26. Section “Director Compensation”. As printed: 230,000. View filing ↗
  • Section 08, Dwayne Wilson. DEF 14A, filed 2026-03-26. Section “Director Compensation”. As printed: 230,000. View filing ↗
  • Section 08, Angela Archon. DEF 14A, filed 2026-03-26. Section “Director Compensation”. As printed: 230,000. View filing ↗
  • Section 08, David Slater. DEF 14A, filed 2026-03-26. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 06, 2026 vote. Form 8-K, filed 2026-05-07. Item 5.07 · say-on-pay result. As reported: 96.05% (votes for as printed: 76,623,351). View filing ↗
  • Section 06, 2025 vote. Form 8-K, filed 2025-05-09. Item 5.07 · say-on-pay result. As reported: 95.99% (votes for as printed: 75,849,202). View filing ↗
  • Section 06, 2024 vote. Form 8-K, filed 2024-05-13. Item 5.07 · say-on-pay result. As reported: 94.58% (votes for as printed: 71,371,003). 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 800,000 + equity 690,000 + all other 0 = 1,490,000, summed across the director compensation table rows.
  • Targa Resources Corp., Section 10b CEO total. DEF 14A, filed 2026-03-26. CEO total compensation as printed in Targa Resources Corp.'s own proxy. As printed: 21,470,708. View filing ↗
  • Equitrans Midstream Corporation, Section 10b CEO total. DEF 14A, filed 2024-03-04. CEO total compensation as printed in Equitrans Midstream Corporation's own proxy. As printed: 15,457,854. View filing ↗
  • HF Sinclair Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-31. CEO total compensation as printed in HF Sinclair Corporation's own proxy. As printed: 14,278,553. View filing ↗
  • Plains All American Pipeline, LP, Section 10b CEO total. DEF 14A, filed 2026-04-10. CEO total compensation as printed in Plains All American Pipeline, LP's own proxy. As printed: 12,295,167. View filing ↗
  • Oneok, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-01. CEO total compensation as printed in Oneok, Inc.'s own proxy. As printed: 12,003,335. View filing ↗
  • DT Midstream (subject), Section 10b CEO total. DEF 14A, filed 2026-03-26. CEO total compensation as printed in DT Midstream's own proxy. As printed: 9,328,071. View filing ↗
  • The Williams Companies, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-18. CEO total compensation as printed in The Williams Companies, Inc.'s own proxy. As printed: 8,682,793. View filing ↗
  • Kinetik Holdings Inc., Section 10b CEO total. DEF 14A, filed 2026-04-08. CEO total compensation as printed in Kinetik Holdings Inc.'s own proxy. As printed: 6,156,243. View filing ↗
  • Summit Midstream Corporation, Section 10b CEO total. DEF 14A, filed 2026-04-10. CEO total compensation as printed in Summit Midstream Corporation's own proxy. As printed: 5,970,824. View filing ↗
  • Antero Midstream Corporation, Section 10b CEO total. DEF 14A, filed 2026-04-23. CEO total compensation as printed in Antero Midstream Corporation's own proxy. As printed: 5,382,718. View filing ↗
  • Section 10a, Equitrans Midstream Corporation reciprocity. DEF 14A. Equitrans Midstream Corporation names DT Midstream in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Targa Resources Corp. reciprocity. DEF 14A. Targa Resources Corp. names DT Midstream in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Kinetik Holdings Inc. reciprocity. DEF 14A. Kinetik Holdings Inc. names DT Midstream in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, ONEOK, Inc. reciprocity. DEF 14A. ONEOK, Inc. names DT Midstream in its own disclosed peer group (read from its most recent proxy). View filing ↗
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