Companies Fuel Tech
Fuel Tech (FTEK): executive pay, fiscal 2025
Free brief. Every figure links to the company’s own filing.
Velarion Intel: free for 3 days, no card →Email me Fuel Tech’s executive pay brief as a PDF
You get it on this page the moment you ask, and a copy by email. Every figure is cited to its filing.
After the PDF, up to three short notes on the deeper reports for this company. Reply “unsubscribe” to any of them, any time.
CEO pay, last three years
- $913,486FY2023
- $449,483FY2024
- $788,338FY2025
CEO total pay was $788,338 in fiscal 2025, up from $449,483 in fiscal 2024.
FY2025: salary $425,000 · bonus $0 · stock awards $338,604 · option awards $0
Executives and directors
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 |
|---|---|---|---|---|---|---|---|---|
| Vincent Arnone | $425,000 | $0 | $338,604 | $0 | $0 | $0 | $24,734 | $788,338 |
| President and Chief Executive Officer | ||||||||
| Ellen Albrecht | 294,000 | 0 | 135,604 | 0 | 30,664 | 0 | 24,260 | 484,864 |
| Vice President, Chief Financial Officer and Principal Financial Officer | ||||||||
| William Cummings | 240,000 | 0 | 101,500 | 0 | 66,905 | 0 | 39,089 | 447,494 |
| Senior Vice President, Sales | ||||||||
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 |
|---|---|---|---|---|
| Vincent Arnone | $788,338 | $449,483 | $913,486 | ↑ +338,855 |
| Ellen Albrecht | 484,864 | 369,548 | 493,060 | ↑ +115,316 |
| William Cummings | 447,494 | 339,710 | 524,002 | ↑ +107,784 |
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
We use a combination of cash and stock-based incentive compensation to attract and retain qualified candidates to serve on our Board. In setting director compensation, we consider the role of the directors, the amount of time that directors expend in fulfilling their duties as well as the expertise required of Board members, the financial performance of Fuel Tech and the availability of shares under the Fuel Tech, Inc. 2024 Long-Term Incentive Plan.
| CEO STI target (% of salary) | 50% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | CODA Advisors, 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 |
|---|---|---|---|---|---|---|---|
| Vincent Arnone | PSU | 2025-03-27 | 41,700 | 166,800 | — | 333,600 | — |
| William Cummings | RSU | — | — | — | 6,250 | — | — |
| Ellen Albrecht | PSU | 2025-03-27 | 16,700 | 66,800 | — | 133,600 | — |
Vehicle mix — grant-date fair value by award type
Grant-level vehicle detail not disclosed.
% 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 |
|---|---|---|---|---|
| William Cummings | RSU | 6,267 | — | $9,777 |
| Ellen Albrecht | RSU | 8,334 | — | 13,001 |
| Vincent Arnone | RSU | 20,734 | — | 32,345 |
| William Cummings | PSU | 100,000 | — | 156,000 |
| Ellen Albrecht | PSU | 133,600 | — | 208,416 |
| Vincent Arnone | PSU | 333,600 | — | 520,416 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Dennis L. ZeitlerIndependent · Audit Committee (Chair) · Compensation Committee · Nominating and Corporate Governance Committee | $60,000 | $24,751 | $0 | $0 | $0 | $84,751 |
| Sharon L. JonesIndependent · Audit Committee · Compensation Committee (Chair) · Nominating and Corporate Governance Committee | 57,500 | 24,751 | 0 | 0 | 0 | 82,251 |
| Douglas G. BaileyIndependent · Audit Committee · Compensation Committee · Nominating and Corporate Governance Committee (Chair) | 55,000 | 24,751 | 0 | 0 | 0 | 79,751 |
| Vincent J. ArnoneEmployee director · Board Chair | 0 | 0 | 0 | — | 0 | 0 |
Board fee structure and ownership guideline
| Annual cash retainer | $50,000 |
|---|---|
| Annual equity retainer | $24,751 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 10,000 / 7,500 / 5,000 |
| Stock ownership guideline | $1 |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $172,500 |
| Equity awards (grant-date value) | $74,253 |
| All other compensation | $0 |
| Total cost of the board | $246,753 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Fuel Tech as a peer
Companies that benchmark against FTEK
No companies currently name FTEK 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 — 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 | FuelCell Energy | 2025 | Jason Few | $582,036 | $1,420,380 | $0 | $686,376 | $2,752,725 |
| 2 | Flotek Industries | 2025 | Ryan Ezell | 561,994 | 1,356,750 | 0 | 662,805 | 2,604,376 |
| 3 | Graham Corporation | 2026 | Matthew Malone | 462,769 | 600,004 | 0 | 636,308 | 1,809,120 |
| 4 | Orion Energy Systems | 2026 | Sally Washlow | 381,683 | 120,200 | 300,000 | 0 | 1,783,732 |
| 5 | Consolidated Water Company | 2025 | Frederick McTaggart | 562,275 | 281,138 | 0 | 359,153 | 1,222,966 |
| 6 | Cadiz | 2025 | Susan Kennedy | 400,000 | 645,625 | 0 | 0 | 1,057,625 |
| 7 | Pure Cycle Corporation | 2025 | Mark Harding | 525,000 | 114,300 | 0 | 0 | 965,016 |
| 8 | Fuel Tech | 2025 | Vincent Arnone | 425,000 | 338,604 | 0 | 0 | 788,338 |
| 9 | Broadwind | 2025 | Eric Blashford | 447,501 | 259,877 | 0 | 0 | 757,549 |
| 10 | Amtech Systems | 2025 | Robert C. Daigle | 450,000 | 0 | 259,410 | 0 | 723,580 |
| 11 | Pioneer Power Solutions | 2025 | Nathan Mazurek | 675,500 | 0 | 0 | 0 | 687,500 |
| 12 | LanzaTech Global | 2025 | Jennifer Holmgren | 630,000 | 0 | 0 | 0 | 642,559 |
| 13 | CPS Technologies | 2025 | Brian Mackey | 319,125 | 0 | 21,278 | 0 | 505,162 |
| 14 | Perma-Fix Environmental | 2025 | Mark Duff | 417,155 | 0 | 0 | 0 | 453,081 |
| — | ClearSign Technologies | — | — | — | — | — | — | not in coverage universe |
| — | Gencor Industries | — | — | — | — | — | — | 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
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Fuel Tech | not disclosed | RSU 100 | not disclosed | CODA Advisors, LLC |
| Amtech Systems | not disclosed | not disclosed | not disclosed | not disclosed |
| Broadwind | not disclosed | not disclosed | not disclosed | Frederic W. Cook & Co., Inc. |
| Cadiz | not disclosed | RSU 100 | not disclosed | Coda Advisors |
| ClearSign Technologies | not disclosed | not disclosed | not disclosed | not disclosed |
| Consolidated Water Company | not disclosed | not disclosed | not disclosed | Frederic W. Cook & Co., Inc. |
| CPS Technologies | not disclosed | Option 100 | not disclosed | not disclosed |
| Flotek Industries | not disclosed | not disclosed | not disclosed | Meridian, Pay Governance |
| FuelCell Energy | 100% | PSU 50 · RSU 50 | Yes — Relative TSR (Russell 2000 Index) | Meridian Compensation Partners, LLC |
| Gencor Industries | not disclosed | not disclosed | not disclosed | not disclosed |
| Graham Corporation | not disclosed | RSU 50 · PSU 50 | not disclosed | Frederic W. Cook & Co., Inc. |
| LanzaTech Global | not disclosed | not disclosed | not disclosed | Willis Towers Watson |
| Orion Energy Systems | not disclosed | not disclosed | not disclosed | not disclosed |
| Perma-Fix Environmental | not disclosed | not disclosed | not disclosed | not disclosed |
| Pioneer Power Solutions | not disclosed | not disclosed | not disclosed | not disclosed |
| Pure Cycle Corporation | not disclosed | not disclosed | not disclosed | not 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 year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-04 | 11,949,173 | 637,014 | 187,055 | 94.94% | Passed |
| 2025 | 2025-06-05 | 13,458,829 | 746,185 | 214,310 | 94.75% | Passed |
| 2024 | 2024-06-06 | 12,714,159 | 506,653 | 141,720 | 96.17% | Passed |
| 2023 | 2023-06-08 | 12,725,010 | 736,222 | 59,065 | 94.53% | Passed |
| 2022 | 2022-06-02 | 10,272,981 | 913,011 | 99,460 | 91.84% | Passed |
| 2021 | 2021-05-20 | 10,944,586 | 333,955 | 139,746 | 97.04% | 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 year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2026 | 2026-06-04 | 94.94%a |
| 2025 | 2025-06-05 | 94.75%b |
| 2024 | 2024-06-06 | 96.17%c |
a. Approved under the standard stated in the filing — “The executive compensation advisory vote will be decided by the affirmative vote of a majority of the shares entitled to vote and present in person or by proxy. || Abstentions: A proxy card marked "Abstain" with respect to this proposal will not be voted, although it will be counted for purposes of determining the total number of shares entitled to vote at the meeting.”.
b. Approved under the standard stated in the filing — “The executive compensation advisory vote will be decided by the affirmative vote of a majority of the shares entitled to vote and present in person or by proxy. || Abstentions: A proxy card marked "Abstain" with respect to this proposal will not be voted, although it will be counted for purposes of determining the total number of shares entitled to vote at the meeting.”.
c. Approved under the standard stated in the filing — “Accordingly, if you "Abstain" from voting, it will have the same effect as an "Against" vote. Broker non-votes will have no effect on 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) | — |
|---|---|
| CEO total compensation | — |
| Median employee compensation | — |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (30 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, Vincent Arnone. DEF 14A, filed 2026-04-13. Section “SUMMARY COMPENSATION TABLE” · page 23. As printed: 788,338. View filing ↗
- Section 01, Ellen Albrecht. DEF 14A, filed 2026-04-13. Section “Summary Compensation Table” · page 23. As printed: 484,864. View filing ↗
- Section 01, William Cummings. DEF 14A, filed 2026-04-13. Section “SUMMARY COMPENSATION TABLE” · page 23. As printed: 447,494. View filing ↗
- Section 03, Vincent Arnone PSU. DEF 14A, filed 2026-04-13. Section “Grants Of Plan-Based Awards In Fiscal Year 2025 To Named Executive Officers” · grants of plan-based awards table. View filing ↗
- Section 03, William Cummings RSU. DEF 14A, filed 2026-04-13. Section “Grants Of Plan-Based Awards In Fiscal Year 2025 To Named Executive Officers” · grants of plan-based awards table. View filing ↗
- Section 03, Ellen Albrecht PSU. DEF 14A, filed 2026-04-13. Section “Grants Of Plan-Based Awards In Fiscal Year 2025 To Named Executive Officers” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. 10-K, filed 2026-03-03. Section “CEO Pay Ratio”. As printed: —. View filing ↗
- Section 08, Dennis L. Zeitler. DEF 14A, filed 2026-04-13. Section “Director Compensation”. As printed: 84,751. View filing ↗
- Section 08, Sharon L. Jones. DEF 14A, filed 2026-04-13. Section “Director Compensation”. As printed: 82,251. View filing ↗
- Section 08, Douglas G. Bailey. DEF 14A, filed 2026-04-13. Section “Director Compensation”. As printed: 79,751. View filing ↗
- Section 08, Vincent J. Arnone. DEF 14A, filed 2026-04-13. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-06-08. Item 5.07 · say-on-pay result. As reported: 94.94% (votes for as printed: 11,949,173). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-06-10. Item 5.07 · say-on-pay result. As reported: 94.75% (votes for as printed: 13,458,829). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-06-10. Item 5.07 · say-on-pay result. As reported: 96.17% (votes for as printed: 12,714,159). 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 172,500 + equity 74,253 + all other 0 = 246,753, summed across the director compensation table rows.
- FuelCell Energy, Section 10b CEO total. DEF 14A, filed 2026-02-18. CEO total compensation as printed in FuelCell Energy's own proxy. As printed: 2,752,725. View filing ↗
- Flotek Industries, Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in Flotek Industries's own proxy. As printed: 2,604,376. View filing ↗
- Graham Corporation, Section 10b CEO total. DEF 14A, filed 2026-07-14. CEO total compensation as printed in Graham Corporation's own proxy. As printed: 1,809,120. View filing ↗
- Orion Energy Systems, Section 10b CEO total. DEF 14A, filed 2026-06-23. CEO total compensation as printed in Orion Energy Systems's own proxy. As printed: 1,783,732. View filing ↗
- Consolidated Water Company, Section 10b CEO total. DEF 14A, filed 2026-04-22. CEO total compensation as printed in Consolidated Water Company's own proxy. As printed: 1,222,966. View filing ↗
- Cadiz, Section 10b CEO total. DEF 14A, filed 2026-04-30. CEO total compensation as printed in Cadiz's own proxy. As printed: 1,057,625. View filing ↗
- Pure Cycle Corporation, Section 10b CEO total. DEF 14A, filed 2025-12-04. CEO total compensation as printed in Pure Cycle Corporation's own proxy. As printed: 965,016. View filing ↗
- Fuel Tech (subject), Section 10b CEO total. DEF 14A, filed 2026-04-13. CEO total compensation as printed in Fuel Tech's own proxy. As printed: 788,338. View filing ↗
- Broadwind, Section 10b CEO total. DEF 14A, filed 2026-04-14. CEO total compensation as printed in Broadwind's own proxy. As printed: 757,549. View filing ↗
- Amtech Systems, Section 10b CEO total. DEF 14A, filed 2026-01-23. CEO total compensation as printed in Amtech Systems's own proxy. As printed: 723,580. View filing ↗
- Pioneer Power Solutions, Section 10b CEO total. DEF 14A, filed 2026-09-22. CEO total compensation as printed in Pioneer Power Solutions's own proxy. As printed: 687,500. View filing ↗
- LanzaTech Global, Section 10b CEO total. DEF 14A, filed 2026-04-29. CEO total compensation as printed in LanzaTech Global's own proxy. As printed: 642,559. View filing ↗
- CPS Technologies, Section 10b CEO total. DEF 14A, filed 2026-03-20. CEO total compensation as printed in CPS Technologies's own proxy. As printed: 505,162. View filing ↗
- Perma-Fix Environmental, Section 10b CEO total. DEF 14A, filed 2026-06-12. CEO total compensation as printed in Perma-Fix Environmental's own proxy. As printed: 453,081. View filing ↗