Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-10

Infinity Natural Resources (INR)

CEO Zack Arnold was paid $38,880,448 in fiscal year 2025 (SEC filing 0002029118-26-000041 ↗): 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.

$38,880,448
Zack Arnold total, FY2025
—
CEO pay percentile vs peers
—
CEO-to-median pay ratio
96.43%
Say-on-pay support, latest vote

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INR's next annual pay disclosure, estimated April 24, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Zack Arnold$410,349$1,000$2,899,009$34,959,578$552,500$0$58,012$38,880,448
President, Chief Executive Officer and Director
David Sproule410,3491,0002,899,00934,959,578552,500052,05238,874,488
Executive Vice President, Chief Financial Officer and Director
Raleigh Wolfe338,7311,0003,084,4740341,250038,3913,803,846
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 FY2024→2025
Zack Arnold$38,880,448———
David Sproule38,874,488———
Raleigh Wolfe3,803,846———

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 INR
1 company names INR as a compensation peer

Each company listed discloses INR 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 INR 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
David PooleIndependent Director$235,000
Katherine M. GallagherIndependent Director$225,000
Sarah JamesFormer director (through FY2025)$245,000
Scott GieselmanIndependent Director$240,000
Steven GrayIndependent Director$300,000
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
Raleigh WolfePSU2025-03-17——43,529——
Zack ArnoldPSU2025-03-17——130,586——
David SproulePSU2025-03-17——130,586——
Raleigh WolfeRSU2025-02-03——62,500——
03b

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.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Zack ArnoldPSU130,586—$1,923,532
Raleigh WolfeRSU62,500—920,625
David SproulePSU130,586—1,923,532
Raleigh WolfeRSU43,529—641,182
05

Incentive-plan design — the Compensation Discussion & Analysis

Executive compensation programs are designed to attract, motivate and retain Named Executive Officers who are critical to the Company's success.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultant—
Clawback policytrue
Anti-hedging—
Anti-pledging—
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-0967,036,0032,484,1901,525,03796.43%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
20262026-06-0996.43%a

a. 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)—
CEO total compensation—
Median employee compensation—
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Steven GrayIndependent · Compensation$0$300,000———$300,000
Sarah JamesIndependent · Departed during FY0245,000———245,000
Scott GieselmanIndependent · Audit (Chair) · Compensation0240,000———240,000
David PooleIndependent · Audit · Compensation · Nominating/Governance0235,000———235,000
Katherine M. GallagherIndependent · Audit · Nominating/Governance (Chair)0225,000———225,000
Zack ArnoldEmployee director—————0
David SprouleEmployee director · Not standing for re-election—————0
Scott McNeillIndependent · Audit · Newly elected——————
Matthew KellyIndependent · Nominating, Governance and Sustainability · Newly elected——————
09

Board fee structure and ownership guideline

Annual cash retainer$65,000
Annual equity retainer$160,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)20,000 / 15,000 / 10,000
Stock ownership guideline$325,000
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$0
Equity awards (grant-date value)$1,245,000
All other compensation$0
Total cost of the board$1,245,000

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

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 Resources2025Zack Arnold$410,349$2,899,009$34,959,578$552,500$38,880,448

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.

10d

Frequently asked questions

Who was the highest-paid executive at Infinity Natural Resources in fiscal 2025?
As disclosed, Zack Arnold (President, Chief Executive Officer and Director) was the highest-paid executive at Infinity Natural Resources in fiscal 2025, with total compensation of $38,880,448.
How did shareholders vote on Infinity Natural Resources's executive compensation?
As disclosed, 96.43% of shareholders supported Infinity Natural Resources's executive compensation in the latest say-on-pay vote.
How much does Infinity Natural Resources spend in total on board compensation for fiscal 2025?
As disclosed, Infinity Natural Resources reported total board compensation of $1,245,000 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.

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, Zack ArnoldDEF 14A2026-04-240002029118-26-000041Section “Executive Compensation”. As printed: 38,880,448. Filing ↗machine: r2 · c48 · span 196945–196956
2Section 01, David SprouleDEF 14A2026-04-240002029118-26-000041Section “Executive Compensation”. As printed: 38,874,488. Filing ↗machine: r4 · c48 · span 201906–201917
3Section 01, Raleigh WolfeDEF 14A2026-04-240002029118-26-000041Section “Executive Compensation”. As printed: 3,803,846. Filing ↗machine: r6 · c48 · span 206914–206924
4Section 03, Raleigh Wolfe PSUDEF 14A2026-04-240002029118-26-000041Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 253502–253508
5Section 03, Zack Arnold PSUDEF 14A2026-04-240002029118-26-000041Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 237875–237882
6Section 03, David Sproule PSUDEF 14A2026-04-240002029118-26-000041Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
7Section 03, Raleigh Wolfe RSUDEF 14A2026-04-240002029118-26-000041Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 237728–237734
8Section 07, pay ratio10-K2026-03-100002029118-26-000014Section “CEO Pay Ratio”. As printed: —. Filing ↗
9Section 08, Steven GrayDEF 14A2026-04-240002029118-26-000041Section “Director Compensation”. As printed: 300,000. Filing ↗
10Section 08, Sarah JamesDEF 14A2026-04-240002029118-26-000041Section “Director Compensation”. As printed: 245,000. Filing ↗machine: span 289174–289384
11Section 08, Scott GieselmanDEF 14A2026-04-240002029118-26-000041Section “Director Compensation”. As printed: 240,000. Filing ↗
12Section 08, David PooleDEF 14A2026-04-240002029118-26-000041Section “Director Compensation”. As printed: 235,000. Filing ↗
13Section 08, Katherine M. GallagherDEF 14A2026-04-240002029118-26-000041Section “Director Compensation”. As printed: 225,000. Filing ↗machine: span 285713–285977
14Section 08, Zack ArnoldDEF 14A2026-04-240002029118-26-000041Section “Director Compensation”. As printed: 0. Filing ↗
15Section 08, David SprouleDEF 14A2026-04-240002029118-26-000041Section “Director Compensation”. As printed: 0. Filing ↗
16Section 08, Scott McNeillDEF 14A2026-04-240002029118-26-000041Section “Director Compensation”. As printed: —. Filing ↗
17Section 08, Matthew KellyDEF 14A2026-04-240002029118-26-000041Section “Director Compensation”. As printed: —. Filing ↗
18Section 06, 2026 voteForm 8-K2026-06-100002029118-26-000056Item 5.07 · say-on-pay result. As reported: 96.43% (votes for as printed: 67,036,003). Filing ↗
19Section 09b board cost (computed)Computed——Cash 0 + equity 1,245,000 + all other 0 = 1,245,000, summed across the director compensation table rows.machine: formula: Σ = 1,245,000
20Infinity Natural Resources (subject), Section 10b CEO totalDEF 14A2026-04-240002029118-26-000041CEO total compensation as printed in Infinity Natural Resources's own proxy. As printed: 38,880,448. Filing ↗machine: r2 · c48 · span 196945–196956

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