Fiscal year 2025 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.
Each company listed discloses MEG 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 MEG in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Vijay Manthripragada | $950,000 | $0 | $0 | $0 | $2,185,000 | — | $14,000 | $3,149,000 |
| President and Chief Executive Officer | ||||||||
| Allan Dicks | 525,000 | 0 | 0 | 0 | 735,000 | — | 14,000 | 1,274,000 |
| Chief Financial Officer | ||||||||
| Jose M. Revuelta | 525,000 | 0 | 0 | 0 | 735,000 | — | 14,000 | 1,274,000 |
| Chief Strategy Officer | ||||||||
| Nasym Afsari | 525,000 | 0 | 0 | 0 | 682,500 | — | 14,000 | 1,221,500 |
| 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.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Vijay Manthripragada | $3,149,000 | — | — | — |
| Allan Dicks | 1,274,000 | — | — | — |
| Jose M. Revuelta | 1,274,000 | — | — | — |
| Nasym Afsari | 1,221,500 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
No insider equity transactions reported since the proxy statement.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Jose M. Revuelta | OTHER | 2019-01-10 | — | — | — | — | $34,100 |
| Jose M. Revuelta | OTHER | 2016-06-23 | — | — | — | — | 119,158 |
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.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Nasym Afsari | RSU | 112,932 | — | $2,804,102 |
| Nasym Afsari | RSU | 112,932 | — | 2,804,102 |
| Jose M. Revuelta | RSU | 117,449 | — | 2,916,259 |
| Vijay Manthripragada | Option | 119,158 | 6.03 | — |
| Vijay Manthripragada | Option | 34,100 | 24 | — |
| Vijay Manthripragada | Option | 37,783 | 31.6 | — |
| Vijay Manthripragada | Option | 21,125 | 47.72 | — |
| Allan Dicks | RSU | 112,932 | — | 2,804,102 |
| Allan Dicks | RSU | 112,932 | — | 2,804,102 |
| Vijay Manthripragada | Option | 62,500 | 9.76 | — |
| Vijay Manthripragada | Option | 71,006 | 44.11 | — |
| Vijay Manthripragada | RSU | 316,210 | — | 7,851,494 |
| Vijay Manthripragada | Option | 143,041 | 15 | — |
| Vijay Manthripragada | Option | 36,295 | 30.96 | — |
We are committed to a pay for performance philosophy and have designed our compensation programs in accordance with these objectives. To reward both short- and long-term performance, the objectives of our executive compensation program are to: 1. Align executive and stockholder interests; 2. Provide a significant portion of total compensation that is long term, performance-based and at risk; 3. Motivate desired behaviors by linking variable pay to value creating financial metrics; and 4. Provide competitive total pay opportunities in order to attract and retain talented executives.
| CEO STI target (% of salary) | 115% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Exequity LLP |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | True |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-06 | 24,870,933 | 4,792,525 | 2,391 | 83.84% | Passed |
| 2025 | 2025-05-06 | 25,605,273 | 3,731,322 | 15,780 | 87.23% | Passed |
| 2024 | 2024-05-07 | 13,279,941 | 12,291,786 | 151,848 | 51.63% | Passed |
| 2023 | 2023-05-09 | 12,587,708 | 12,384,000 | 3,028 | 50.4% | Passed |
| 2022 | 2022-05-10 | 6,327,743 | 18,851,836 | 3,268 | 25.13% | Failed |
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.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-05-06 | 83.84%a |
| 2025 | 2025-05-06 | 87.23%b |
| 2024 | 2024-05-07 | 51.63%c |
a. Approved under the standard stated in the filing — “Abstentions will have the same effect as a vote against this proposal.”.
b. Approved under the standard stated in the filing — “Abstentions will have the same effect as a vote against this proposal.”.
c. Approved under the standard stated in the filing — “Abstentions will have the same effect as a vote against this 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.
| Ratio (CEO : median employee) | 38 : 1 |
|---|---|
| CEO total compensation | $3,149,000 |
| Median employee compensation | $82,079 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Richard E. PerlmanIndependent · Board Chair · Compensation · Nominating and Corporate Governance | $170,000 | $109,983 | $0 | $0 | $0 | $279,983 |
| J. Thomas PresbyIndependent · Audit · Compensation | 140,000 | 109,983 | 0 | 0 | 0 | 249,983 |
| Peter M. GrahamIndependent · Compensation (Chair) · Audit | 120,000 | 109,983 | 0 | 0 | 0 | 229,983 |
| Robin L. NewmarkIndependent · Nominating and Corporate Governance (Chair) | 100,000 | 109,983 | 0 | 0 | 0 | 209,983 |
| Janet Risi FieldIndependent · Compensation · Nominating and Corporate Governance | 90,000 | 109,983 | 0 | 0 | 0 | 199,983 |
| J. Miguel Fernandez de CastroIndependent · Audit | 90,000 | 109,983 | 0 | 0 | 0 | 199,983 |
| James K. PriceIndependent · Compensation · Nominating and Corporate Governance | 90,000 | 109,983 | 0 | 0 | 0 | 199,983 |
| Vincent P. ColmanIndependent · Audit (Chair) · Newly elected | 77,671 | 94,916 | 0 | 0 | 0 | 172,587 |
| Annual cash retainer | $90,000 |
|---|---|
| Annual equity retainer | $110,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 50,000 / 30,000 / 10,000 |
| Stock ownership guideline | 5x annual cash retainer ($450,000) |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $877,671 |
| Equity awards (grant-date value) | $864,797 |
| All other compensation | $0 |
| Total cost of the board | $1,742,468 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Of the companies Montrose Environmental Group 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 Montrose Environmental 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 | Tetra Tech, Inc. | 2025 | Dan L. Batrack | $1,245,673 | $7,798,841 | $0 | $2,506,500 | $11,622,399 |
| 2 | Stericycle, Inc. | 2023 | Cindy Miller | 1,068,860 | 4,911,951 | 0 | 1,307,021 | 7,290,832 |
| 3 | Clean Harbors, Inc. | 2025 | Eric Gerstenberg | 1,000,000 | 3,197,110 | 0 | 1,719,000 | 5,929,422 |
| 4 | REX American Resources Corporation | 2025 | Zafar Rizvi | 275,000 | 1,250,000 | 0 | 3,750,000 | 5,275,200 |
| 5 | Ormat Technologies, Inc. | 2025 | Doron Blachar | 641,062 | 2,000,000 | 0 | 816,000 | 3,618,005 |
| 6 | Mistras Group, Inc. | 2025 | Natalia Shuman | 850,000 | 1,971,413 | 190,482 | 510,000 | 3,610,368 |
| 7 | Ameresco, Inc. | 2025 | George Sakellaris | 1,500,000 | 155,100 | 1,385,999 | 0 | 3,339,804 |
| 8 | Montrose Environmental Group | 2025 | Vijay Manthripragada | 950,000 | 0 | 0 | 2,185,000 | 3,149,000 |
| 9 | CECO Environmental Corp. | 2024 | Todd Gleason | 717,383 | 1,627,505 | 289,575 | 382,656 | 3,051,771 |
| 10 | Casella Waste Systems, Inc. | 2025 | Edmond Coletta | 615,134 | 1,644,377 | 0 | 553,619 | 2,830,523 |
| 11 | Clean Energy Fuels Corp. | 2025 | Andrew Littlefair | 787,062 | 947,868 | 0 | 867,973 | 2,698,546 |
| — | Bowman Consulting Group Ltd. | — | — | — | — | — | — | not in coverage universe |
| — | Argan, Inc. | — | — | — | — | — | — | not in coverage universe |
| — | CRA International, Inc. | — | — | — | — | — | — | not in coverage universe |
| — | NV5 Global, Inc. | — | — | — | — | — | — | not in coverage universe |
| — | Exponent, Inc. | — | — | — | — | — | — | not in coverage universe |
| — | Forrester Research, Inc. | — | — | — | — | — | — | not in coverage universe |
| — | Willdan Group, Inc. | — | — | — | — | — | — | not in coverage universe |
| — | Stantec Inc. | — | — | — | — | — | — | 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.
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Montrose Environmental Group | 200% | RSU 100 | No | Exequity LLP |
| Ameresco, Inc. | 95% | not disclosed | No | FW Cook |
| Argan, Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Bowman Consulting Group Ltd. | not disclosed | not disclosed | not disclosed | not disclosed |
| Casella Waste Systems, Inc. | not disclosed | PSU 75 · RSU 25 | No | Pay Governance |
| CECO Environmental Corp. | 40% | PSU 75 · Options 25 | No | Meridian Compensation Partners LLC |
| Clean Energy Fuels Corp. | 111% | RSU 50 · PSU 50 | No | Semler Brossy |
| Clean Harbors, Inc. | not disclosed | not disclosed | No | Meridian Compensation Partners |
| CRA International, Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Exponent, Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Forrester Research, Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Mistras Group, Inc. | 60% | RSU 100 | No | Pay Governance LLC |
| NV5 Global, Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Ormat Technologies, Inc. | 97% | PSU 60 · RSU 40 | Yes — Relative TSR | F.W. Cook & Co. |
| REX American Resources Corporation | not disclosed | RSU 100 | not disclosed | Independent compensation consultant (unnamed in provided proxy sections; referenced in 2026 Plan section as 'its independent compensation consultant') |
| Stantec Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Stericycle, Inc. | 94% | PSU 55 · RSU 45 | No | Pay Governance LLC |
| Tetra Tech, Inc. | 134% | PSU 60 · RSU 40 | Yes — Relative TSR | Meridian Compensation Partners |
| Willdan Group, Inc. | 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.
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.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Vijay Manthripragada | DEF 14A | 2026-03-24 | 0001193125-26-121792 | Section “Summary Compensation Table”. As printed: 3,149,000. Filing ↗machine: r4 · c7 · span 1172434–1172443 |
| 2 | Section 01, Allan Dicks | DEF 14A | 2026-03-24 | 0001193125-26-121792 | Section “Summary Compensation Table”. As printed: 1,274,000. Filing ↗machine: r7 · c7 · span 1183432–1183441 |
| 3 | Section 01, Jose M. Revuelta | DEF 14A | 2026-03-24 | 0001193125-26-121792 | Section “Summary Compensation Table”. As printed: 1,274,000. Filing ↗machine: r13 · c7 · span 1205221–1205230 |
| 4 | Section 01, Nasym Afsari | DEF 14A | 2026-03-24 | 0001193125-26-121792 | Section “Summary Compensation Table”. As printed: 1,221,500. Filing ↗machine: r10 · c7 · span 1194409–1194418 |
| 5 | Section 03, Jose M. Revuelta OTHER | DEF 14A | — | 0001193125-26-121792 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗ |
| 6 | Section 03, Jose M. Revuelta OTHER | DEF 14A | — | 0001193125-26-121792 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗ |
| 7 | Section 07, pay ratio | DEF 14A | 2026-03-24 | 0001193125-26-121792 | Section “CEO Pay Ratio”. As printed: 38 : 1. Filing ↗machine: span 1539486–1539493 |
| 8 | Section 08, Richard E. Perlman | DEF 14A | 2026-03-24 | 0001193125-26-121792 | Section “Director Compensation”. As printed: 279,983. Filing ↗machine: t52 · r8 · c6 · span 744163–744170 |
| 9 | Section 08, J. Thomas Presby | DEF 14A | 2026-03-24 | 0001193125-26-121792 | Section “Director Compensation”. As printed: 249,983. Filing ↗machine: t52 · r9 · c6 · span 747168–747175 |
| 10 | Section 08, Peter M. Graham | DEF 14A | 2026-03-24 | 0001193125-26-121792 | Section “Director Compensation”. As printed: 229,983. Filing ↗machine: t52 · r6 · c6 · span 738151–738158 |
| 11 | Section 08, Robin L. Newmark | DEF 14A | 2026-03-24 | 0001193125-26-121792 | Section “Director Compensation”. As printed: 209,983. Filing ↗machine: t52 · r7 · c6 · span 741156–741163 |
| 12 | Section 08, Janet Risi Field | DEF 14A | 2026-03-24 | 0001193125-26-121792 | Section “Director Compensation”. As printed: 199,983. Filing ↗machine: t52 · r11 · c6 · span 753174–753181 |
| 13 | Section 08, J. Miguel Fernandez de Castro | DEF 14A | 2026-03-24 | 0001193125-26-121792 | Section “Director Compensation”. As printed: 199,983. Filing ↗machine: t52 · r4 · c6 · span 732143–732150 |
| 14 | Section 08, James K. Price | DEF 14A | 2026-03-24 | 0001193125-26-121792 | Section “Director Compensation”. As printed: 199,983. Filing ↗machine: t52 · r10 · c6 · span 750170–750177 |
| 15 | Section 08, Vincent P. Colman | DEF 14A | 2026-03-24 | 0001193125-26-121792 | Section “Director Compensation”. As printed: 172,587. Filing ↗machine: t52 · r5 · c6 · span 735147–735154 |
| 16 | Section 06, 2026 vote | Form 8-K | 2026-05-11 | 0001193125-26-216725 | Item 5.07 · say-on-pay result. As reported: 83.84% (votes for as printed: 24,870,933). Filing ↗ |
| 17 | Section 06, 2025 vote | Form 8-K | 2025-05-09 | 0000950170-25-068268 | Item 5.07 · say-on-pay result. As reported: 87.23% (votes for as printed: 25,605,273.50). Filing ↗ |
| 18 | Section 06, 2024 vote | Form 8-K | 2024-05-08 | 0000950170-24-055863 | Item 5.07 · say-on-pay result. As reported: 51.63% (votes for as printed: 13,279,941). Filing ↗ |
| 19 | Section 09b board cost (computed) | Computed | — | computed | Cash 877,671 + equity 864,797 + all other 0 = 1,742,468, summed across the director compensation table rows.machine: formula: Σ = 1,742,468 |
| 20 | Tetra Tech, Inc., Section 10b CEO total | DEF 14A | 2026-01-09 | 0001104659-26-002458 | CEO total compensation as printed in Tetra Tech, Inc.'s own proxy. As printed: 11,622,399. Filing ↗machine: t51 · r1 · c29 · span 1221310–1221320 |
| 21 | Stericycle, Inc., Section 10b CEO total | DEF 14A | 2024-04-05 | 0001140361-24-018163 | CEO total compensation as printed in Stericycle, Inc.'s own proxy. As printed: 7,290,832. Filing ↗machine: t119 · r1 · c19 · span 854156–854165 |
| 22 | Clean Harbors, Inc., Section 10b CEO total | DEF 14A | 2026-04-10 | 0000822818-26-000013 | CEO total compensation as printed in Clean Harbors, Inc.'s own proxy. As printed: 5,929,422. Filing ↗machine: r5 · c45 · span 683235–683244 |
| 23 | REX American Resources Corporation, Section 10b CEO total | DEF 14A | 2026-04-15 | 0000930413-26-001049 | CEO total compensation as printed in REX American Resources Corporation's own proxy. As printed: 5,275,200. Filing ↗machine: r1 · c6 · span 126010–126020 |
| 24 | Ormat Technologies, Inc., Section 10b CEO total | DEF 14A | 2026-04-21 | 0001193125-26-166752 | CEO total compensation as printed in Ormat Technologies, Inc.'s own proxy. As printed: 3,618,005. Filing ↗machine: r5 · c14 · span 1948476–1948485 |
| 25 | Mistras Group, Inc., Section 10b CEO total | DEF 14A | 2026-04-07 | 0001140361-26-013689 | CEO total compensation as printed in Mistras Group, Inc.'s own proxy. As printed: 3,610,368. Filing ↗machine: r2 · c25 · span 790504–790513 |
| 26 | Ameresco, Inc., Section 10b CEO total | DEF 14A | 2026-04-23 | 0001628280-26-026695 | CEO total compensation as printed in Ameresco, Inc.'s own proxy. As printed: 3,339,804. Filing ↗machine: r2 · c39 · span 713614–713623 |
| 27 | Montrose Environmental Group (subject), Section 10b CEO total | DEF 14A | 2026-03-24 | 0001193125-26-121792 | CEO total compensation as printed in Montrose Environmental Group's own proxy. As printed: 3,149,000. Filing ↗machine: r4 · c7 · span 1172434–1172443 |
| 28 | CECO Environmental Corp., Section 10b CEO total | DEF 14A | 2025-04-10 | 0001558370-25-004649 | CEO total compensation as printed in CECO Environmental Corp.'s own proxy. As printed: 3,051,771. Filing ↗machine: t106 · r5 · c17 · span 876582–876591 |
| 29 | Casella Waste Systems, Inc., Section 10b CEO total | DEF 14A | 2026-04-17 | 0001193125-26-161565 | CEO total compensation as printed in Casella Waste Systems, Inc.'s own proxy. As printed: 2,830,523. Filing ↗machine: t168 · r7 · c25 · span 534590–534599 |
| 30 | Clean Energy Fuels Corp., Section 10b CEO total | DEF 14A | 2026-04-30 | 0001104659-26-052378 | CEO total compensation as printed in Clean Energy Fuels Corp.'s own proxy. As printed: 2,698,546. Filing ↗machine: t150 · r6 · c14 · span 789888–789897 |
| 31 | Section 10a, Clean Energy Fuels Corp. reciprocity | DEF 14A | — | 0001104659-26-052378 | Clean Energy Fuels Corp.'s most recent proxy was read; its disclosed peer group does not include Montrose Environmental Group. Filing ↗ |
| 32 | Section 10a, Stericycle, Inc. reciprocity | DEF 14A | — | 0001140361-24-018163 | Stericycle, Inc.'s most recent proxy was read; its disclosed peer group does not include Montrose Environmental Group. Filing ↗ |
| 33 | Section 10a, Casella Waste Systems, Inc. reciprocity | DEF 14A | — | 0001193125-26-161565 | Casella Waste Systems, Inc.'s most recent proxy was read; its disclosed peer group does not include Montrose Environmental Group. Filing ↗ |
| 34 | Section 10a, CECO Environmental Corp. reciprocity | DEF 14A | — | 0001558370-25-004649 | CECO Environmental Corp.'s most recent proxy was read; its disclosed peer group does not include Montrose Environmental Group. Filing ↗ |
| 35 | Section 10a, Clean Harbors, Inc. reciprocity | DEF 14A | — | 0000822818-26-000013 | Clean Harbors, Inc.'s most recent proxy was read; its disclosed peer group does not include Montrose Environmental Group. Filing ↗ |
| 36 | Section 10a, Ameresco, Inc. reciprocity | DEF 14A | — | 0001628280-26-026695 | Ameresco, Inc.'s most recent proxy was read; its disclosed peer group does not include Montrose Environmental Group. Filing ↗ |
| 37 | Section 10a, Tetra Tech, Inc. reciprocity | DEF 14A | — | 0001104659-26-002458 | Tetra Tech, Inc.'s most recent proxy was read; its disclosed peer group does not include Montrose Environmental Group. Filing ↗ |
| 38 | Section 10a, Mistras Group, Inc. reciprocity | DEF 14A | — | 0001140361-26-013689 | Mistras Group, Inc.'s most recent proxy was read; its disclosed peer group does not include Montrose Environmental Group. Filing ↗ |