Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-15

Matrix Service (MTRX)

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.

$3,069,459
John Hewitt total, FY2025
14th
CEO pay percentile vs peers
28:1
CEO-to-median pay ratio
93.24%
Say-on-pay support, latest vote
Companies that benchmark against MTRX
5 companies name MTRX as a compensation peer

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

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
John Hewitt$800,000$0$2,236,270$0$0$0$33,189$3,069,459
Chief Executive Officer
Alan Updyke459,16101,202,629000897,7072,559,497
Former Chief Operating Officer
Glyn Rodgers349,5600663,417000637,4151,650,392
Former President Matrix PDM Engineering
Kevin Cavanah493,2690731,50100024,5121,249,282
Chief Financial Officer
Shawn Payne459,8680482,89800020,209962,975
President Engineering & Construction
Douglas Montalbano388,7690418,00700017,417824,193
President Matrix North American Construction
Nancy Austin389,4230412,49900021,096823,018
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 FY20242025
John Hewitt$3,069,459$4,097,287$2,401,993−1,027,828
Alan Updyke2,559,4971,636,4051,068,526+923,092
Glyn Rodgers1,650,3921,019,372685,670+631,020
Kevin Cavanah1,249,2821,538,5811,003,415−289,299
Shawn Payne962,9751,139,188727,214−176,213
Douglas Montalbano824,193
Nancy Austin823,018

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

02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Carlin G. ConnerDirector2025-11-04A7,986$0$0CommonForm 4 ↗
Martha Z. CarnesDirector2025-11-04A7,98600CommonForm 4 ↗
John D. ChandlerDirector2025-11-04A7,98600CommonForm 4 ↗
James H. MillerDirector2025-11-04A7,98600CommonForm 4 ↗
Liane K. HinrichsDirector2025-11-04A7,98600CommonForm 4 ↗
Jose L. BustamanteDirector2025-11-04A7,98600CommonForm 4 ↗
Shawn PaynePresident, Eng & Constr2025-11-11D8,25013103,755CommonForm 4 ↗
Shawn PaynePresident, Eng & Constr2025-11-20D3,0191134,489CommonForm 4 ↗
Shawn PaynePresident, Eng & Constr2025-11-25D5,2311159,743CommonForm 4 ↗
Nancy AustinVP, Chief Admin Officer2026-02-18D4,1931147,345CommonForm 4 ↗
John R. HewittDirector2026-05-08D36,00013450,173CommonForm 4 ↗
Kevin CavanahVP Finance & CFO2026-05-26D60,00013773,820CommonForm 4 ↗
Kevin CavanahVP Finance & CFO2026-06-04D50,00014704,875CommonForm 4 ↗
Kevin CavanahVP Finance & CFO2026-06-04D6,5091491,950CommonForm 4 ↗
Kevin CavanahVP Finance & CFO2026-06-12D1,4181419,889CommonForm 4 ↗
Kevin CavanahVP Finance & CFO2026-06-12D2,0731429,022CommonForm 4 ↗
Justin D. SheetsSVP, Enterprise Services2026-06-12D16,99114229,379CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Douglas MontalbanoPSU2024-08-2719,68919,69039,378$418,007
Nancy AustinPSU2024-08-2719,43019,43038,860412,499
Glyn RodgersRSU2025-04-3020,208234,413
Alan UpdykePSU2024-08-2736,63236,63273,264777,698
Alan UpdykeRSU2025-04-3036,632424,931
Shawn PaynePSU2024-08-2722,74622,74645,492482,898
Kevin CavanahPSU2024-08-2734,45634,45668,912731,501
John HewittPSU2024-08-2782,902124,352248,7042,236,270
Glyn RodgersPSU2024-08-2720,20720,20840,414429,004
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Douglas Montalbano$0$418,007$0100.0%
Nancy Austin0412,4990100.0%
Glyn Rodgers234,413429,004064.7%
Alan Updyke424,931777,698064.7%
Shawn Payne0482,8980100.0%
Kevin Cavanah0731,5010100.0%
John Hewitt02,236,2700100.0%

% 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
Shawn PayneRSU3,026$22,746
John HewittRSU18,450124,352
Alan UpdykeRSU8,15233,555
John HewittPSU446,4636,031,715
Glyn RodgersRSU4,32417,114
Shawn PayneRSU8,15432,615
Kevin CavanahRSU12,35249,406
Nancy AustinRSU4,32419,430
Nancy AustinRSU4,85822,471
Shawn PayneRSU61,502830,892
Alan UpdykeRSU103,610426,478
Nancy AustinPSU69,761322,684
Nancy AustinRSU54,954254,193
John HewittRSU29,718178,306
Glyn RodgersPSU40,712161,132
Glyn RodgersRSU56,568223,887
Douglas MontalbanoRSU7,05828,232
Kevin CavanahRSU8,61439,847
Alan UpdykeRSU13,13229,279
Glyn RodgersRSU5,05219,995
Shawn PayneRSU5,68824,567
Glyn RodgersRSU7,24416,151
Douglas MontalbanoRSU4,92416,406
Douglas MontalbanoPSU64,327869,058
Douglas MontalbanoRSU50,808686,416
John HewittRSU234,4803,167,825
Shawn PaynePSU79,9281,079,827
Kevin CavanahPSU123,709572,258
Kevin CavanahRSU97,454450,807
Alan UpdykePSU75,252309,751
John HewittRSU20,726143,805
Alan UpdykeRSU9,15837,696
Kevin CavanahRSU7,66834,456
Nancy AustinRSU6,96627,860
Douglas MontalbanoRSU2,42019,689
05

Incentive-plan design — the Compensation Discussion & Analysis

Our compensation philosophy is to provide the opportunity for outstanding compensation when superior performance is demonstrated. Targets for base salary, short-term and long-term compensation are generally aligned with median (50th percentile) market levels.

CEO STI target (% of salary)100%
CEO LTI target (% of salary)
Independent consultantMeridian Compensation Partners
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20252025-11-0420,132,9221,408,55450,75493.24%Passed
20242024-11-0521,374,908625,278173,07696.4%Passed
20232023-11-1415,259,1253,408,66060,13581.48%Passed
20222022-12-0515,215,5402,906,2971,203,79278.73%Passed
20212021-11-0221,862,746521,08052,64797.44%Passed
20202020-11-0321,854,0981,447,74145,35193.6%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
20252025-11-0493.24%a
20242024-11-0596.4%b
20232023-11-1481.48%c

a. Approved under the standard stated in the filing — “Abstentions will have the effect of a vote against the proposal.”.

b. Approved under the standard stated in the filing — “Abstentions will have the effect of a vote against the proposal.”.

c. Approved under the standard stated in the filing — “Abstentions will have the effect of a vote against 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.

07

CEO pay ratio

Ratio (CEO : median employee)28 : 1
CEO total compensation$3,069,459
Median employee compensation$111,401
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
John D. ChandlerIndependent · Board Chair · Strategy$160,000$93,428$0$0$0$253,428
Martha Z. CarnesIndependent · Audit (Chair) · Compensation · Nominating and Corporate Governance100,00093,428000193,428
James H. MillerNot independent · Project Risk (Chair)92,50093,428000189,830
Carlin G. ConnerIndependent · Audit · Compensation (Chair) · Nominating and Corporate Governance · Strategy95,00093,428000188,428
Liane K. HinrichsIndependent · Audit · Compensation · Nominating and Corporate Governance (Chair) · Strategy92,50093,428000185,928
Jose L. BustamanteIndependent · Audit · Compensation · Nominating and Corporate Governance · Project Risk85,00093,428000179,641
John R. HewittEmployee director · Project Risk · Strategy (Chair)000000
09

Board fee structure and ownership guideline

Annual cash retainer$85,000
Annual equity retainer$93,428
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)15,000 / 10,000 / 7,500
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$625,000
Equity awards (grant-date value)$560,568
All other compensation$0
Total cost of the board$1,185,568

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.

AROC Archrock Inc.ACA Arcosa Inc.BBCP Concrete Pumping Holdings Inc.LMB Limbach Holdings Inc.STRL Sterling Infrastructure Inc.MG Mistras Group Inc. Northwest Pipe CompanyGVA Granite Construction Inc.IESC IES Holdings Inc.NR Newpark Resources Inc.BW Babcock & Wilcox Enterprises Inc.MYRG MYR Group Inc.ONL Orion Group Holdings Inc.GLDD Great Lakes Dredge and Dock CorporationNVEE NV5 Global Inc.AGX Argan Inc.
10a

Peer reciprocity

Of the companies Matrix Service 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.

Archrock Inc. (AROC) Arcosa Inc. (ACA)56 Concrete Pumping Holdings Inc. (BBCP) Limbach Holdings Inc. (LMB) Sterling Infrastructure Inc. (STRL)57 Mistras Group Inc. (MG)58 Granite Construction Inc. (GVA)59 IES Holdings Inc. (IESC) Newpark Resources Inc. (NR) Babcock & Wilcox Enterprises Inc. (BW) MYR Group Inc. (MYRG)60 Orion Group Holdings Inc. (ONL)61 Great Lakes Dredge and Dock Corporation (GLDD) NV5 Global Inc. (NVEE) Argan Inc. (AGX)

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 Matrix Service.

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
1Granite Construction Inc.2025Kyle Larkin$1,000,000$7,178,777$0$1,612,935$9,861,425
2Sterling Infrastructure Inc.2025Joseph Cutillo1,100,0004,675,00002,530,0008,414,685
3Arcosa Inc.2025Antonio Carrillo1,000,0005,127,74101,937,5008,092,216
4MYR Group Inc.2025Richard Swartz941,4613,837,84601,572,5146,387,221
5IES Holdings Inc.2025Matthew Simmes793,750772,18204,632,0126,203,398
6Mistras Group Inc.2025Natalia Shuman850,0001,971,413190,482510,0003,610,368
7Matrix Service2025John Hewitt800,0002,236,270003,069,459
8Orion Group Holdings Inc.2025Paul McDowell584,000659,9060746,9362,080,319
Archrock Inc.not in coverage universe
Concrete Pumping Holdings Inc.not in coverage universe
Limbach Holdings Inc.not in coverage universe
Newpark Resources Inc.not in coverage universe
Babcock & Wilcox Enterprises Inc.not in coverage universe
Great Lakes Dredge and Dock Corporationnot in coverage universe
NV5 Global Inc.not in coverage universe
Argan 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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Matrix Servicenot disclosedPSU 60 · RSU 40NoMeridian Compensation Partners
Archrock Inc.not disclosednot disclosednot disclosednot disclosed
Arcosa Inc.not disclosednot disclosedYes — rTSRNot disclosed
Argan Inc.not disclosednot disclosednot disclosednot disclosed
Babcock & Wilcox Enterprises Inc.not disclosednot disclosednot disclosednot disclosed
Concrete Pumping Holdings Inc.not disclosednot disclosednot disclosednot disclosed
Granite Construction Inc.134%PSU 75 · RSU 25Yes — Relative TSRFW Cook
Great Lakes Dredge and Dock Corporationnot disclosednot disclosednot disclosednot disclosed
IES Holdings Inc.not disclosedPSU 67 · RSU 33NoMercer US, Inc.
Limbach Holdings Inc.not disclosednot disclosednot disclosednot disclosed
Mistras Group Inc.60%RSU 100NoPay Governance LLC
MYR Group Inc.165.5%PSU 70 · RSU 30Yes — TSRMercer
Newpark Resources Inc.not disclosednot disclosednot disclosednot disclosed
NV5 Global Inc.not disclosednot disclosednot disclosednot disclosed
Orion Group Holdings Inc.not disclosedPSU 60 · RSU 40Yes — absolute TSR performanceFerguson Partners Consulting L.P.
Sterling Infrastructure Inc.200%PSU 60 · RSU 40Yes — Relative Total Shareholder Return (TSR)Meridian Compensation Partners

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.

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, John HewittDEF 14A2025-09-240001140361-25-036001Section “Summary Compensation Table” · page 36. As printed: 3,069,459. Filing ↗machine: r2 · c21 · span 521326–521335
2Section 01, Alan UpdykeDEF 14A2025-09-240001140361-25-036001Section “Summary Compensation Table” · page 36. As printed: 2,559,497. Filing ↗machine: r16 · c21 · span 575928–575937
3Section 01, Glyn RodgersDEF 14A2025-09-240001140361-25-036001Section “Summary Compensation Table” · page 36. As printed: 1,650,392. Filing ↗machine: r19 · c21 · span 587131–587140
4Section 01, Kevin CavanahDEF 14A2025-09-240001140361-25-036001Section “Summary Compensation Table” · page 36. As printed: 1,249,282. Filing ↗machine: r5 · c21 · span 533005–533014
5Section 01, Shawn PayneDEF 14A2025-09-240001140361-25-036001Section “Summary Compensation Table” · page 36. As printed: 962,975. Filing ↗machine: r8 · c21 · span 544296–544303
6Section 01, Douglas MontalbanoDEF 14A2025-09-240001140361-25-036001Section “Summary Compensation Table” · page 36. As printed: 824,193. Filing ↗machine: r11 · c21 · span 556171–556178
7Section 01, Nancy AustinDEF 14A2025-09-240001140361-25-036001Section “Summary Compensation Table” · page 36. As printed: 823,018. Filing ↗machine: r13 · c21 · span 564144–564151
8Section 03, Douglas Montalbano PSUDEF 14A2025-09-240001140361-25-036001Section “Grants of Plan-Based Awards During Fiscal 2025” · grants of plan-based awards table. Filing ↗machine: t120 · r10 · c24 · span 661550–661556
9Section 03, Nancy Austin PSUDEF 14A2025-09-240001140361-25-036001Section “Grants of Plan-Based Awards During Fiscal 2025” · grants of plan-based awards table. Filing ↗machine: t120 · r12 · c18 · span 671434–671440
10Section 03, Glyn Rodgers RSUDEF 14A2025-09-240001140361-25-036001Section “Grants of Plan-Based Awards During Fiscal 2025” · grants of plan-based awards table. Filing ↗machine: t126 · r9 · c3 · span 755376–755382
11Section 03, Alan Updyke PSUDEF 14A2025-09-240001140361-25-036001Section “Grants of Plan-Based Awards During Fiscal 2025” · grants of plan-based awards table. Filing ↗machine: t126 · r8 · c3 · span 750774–750780
12Section 03, Alan Updyke RSUDEF 14A2025-09-240001140361-25-036001Section “Grants of Plan-Based Awards During Fiscal 2025” · grants of plan-based awards table. Filing ↗machine: t126 · r8 · c3 · span 750774–750780
13Section 03, Shawn Payne PSUDEF 14A2025-09-240001140361-25-036001Section “Grants of Plan-Based Awards During Fiscal 2025” · grants of plan-based awards table. Filing ↗machine: t120 · r8 · c18 · span 650775–650781
14Section 03, Kevin Cavanah PSUDEF 14A2025-09-240001140361-25-036001Section “Grants of Plan-Based Awards During Fiscal 2025” · grants of plan-based awards table. Filing ↗machine: t120 · r6 · c18 · span 639910–639916
15Section 03, John Hewitt PSUDEF 14A2025-09-240001140361-25-036001Section “Grants of Plan-Based Awards During Fiscal 2025” · grants of plan-based awards table. Filing ↗machine: t120 · r4 · c18 · span 630211–630218
16Section 03, Glyn Rodgers PSUDEF 14A2025-09-240001140361-25-036001Section “Grants of Plan-Based Awards During Fiscal 2025” · grants of plan-based awards table. Filing ↗machine: t126 · r9 · c3 · span 755376–755382
17Section 07, pay ratioDEF 14A2025-09-240001140361-25-036001Section “CEO Pay Ratio”. As printed: 28 : 1. Filing ↗machine: t156 · span 1126387–1126482
18Section 08, John D. ChandlerDEF 14A2025-09-240001140361-25-036001Section “Director Compensation”. As printed: 253,428. Filing ↗machine: t33 · r2 · c12 · span 310290–310297
19Section 08, Martha Z. CarnesDEF 14A2025-09-240001140361-25-036001Section “Director Compensation”. As printed: 193,428. Filing ↗machine: t33 · r4 · c12 · span 315149–315156
20Section 08, James H. MillerDEF 14A2025-09-240001140361-25-036001Section “Director Compensation”. As printed: 189,830. Filing ↗machine: t33 · r7 · c12 · span 322225–322232
21Section 08, Carlin G. ConnerDEF 14A2025-09-240001140361-25-036001Section “Director Compensation”. As printed: 188,428. Filing ↗machine: t33 · r5 · c12 · span 317446–317453
22Section 08, Liane K. HinrichsDEF 14A2025-09-240001140361-25-036001Section “Director Compensation”. As printed: 185,928. Filing ↗machine: t33 · r6 · c12 · span 320095–320102
23Section 08, Jose L. BustamanteDEF 14A2025-09-240001140361-25-036001Section “Director Compensation”. As printed: 179,641. Filing ↗machine: t33 · r3 · c12 · span 312543–312550
24Section 08, John R. HewittDEF 14A2025-09-240001140361-25-036001Section “Director Compensation”. As printed: 0. Filing ↗
25Section 02, Carlin G. Conner 2025-11-04Form 42025-11-050000866273-25-000087Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Martha Z. Carnes 2025-11-04Form 42025-11-050000866273-25-000095Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, John D. Chandler 2025-11-04Form 42025-11-050000866273-25-000085Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, James H. Miller 2025-11-04Form 42025-11-050000866273-25-000091Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Liane K. Hinrichs 2025-11-04Form 42025-11-050000866273-25-000089Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Jose L. Bustamante 2025-11-04Form 42025-11-050000866273-25-000083Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Shawn Payne 2025-11-11Form 42025-11-120000866273-25-000108Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Shawn Payne 2025-11-20Form 42025-11-240000866273-25-000110Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Shawn Payne 2025-11-25Form 42025-11-250000866273-25-000112Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Nancy Austin 2026-02-18Form 42026-02-190000866273-26-000018Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, John R. Hewitt 2026-05-08Form 42026-05-120001519321-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Kevin Cavanah 2026-05-26Form 42026-05-260000866273-26-000032Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Kevin Cavanah 2026-06-04Form 42026-06-080000866273-26-000034Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Kevin Cavanah 2026-06-04Form 42026-06-080000866273-26-000034Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Kevin Cavanah 2026-06-12Form 42026-06-150000866273-26-000038Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Kevin Cavanah 2026-06-12Form 42026-06-150000866273-26-000038Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Justin D. Sheets 2026-06-12Form 42026-06-150000866273-26-000036Insider equity transaction reported since the proxy statement. Filing ↗
42Section 06, 2025 voteForm 8-K2025-11-040000866273-25-000081Item 5.07 · say-on-pay result. As reported: 93.24% (votes for as printed: 20,132,922). Filing ↗
43Section 06, 2024 voteForm 8-K2024-11-060000866273-24-000114Item 5.07 · say-on-pay result. As reported: 96.4% (votes for as printed: 21,374,908). Filing ↗
44Section 06, 2023 voteForm 8-K2023-11-160000866273-23-000083Item 5.07 · say-on-pay result. As reported: 81.48% (votes for as printed: 15,259,125). Filing ↗
45Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
46Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
47Section 09b board cost (computed)ComputedcomputedCash 625,000 + equity 560,568 + all other 0 = 1,185,568, summed across the director compensation table rows.machine: formula: Σ = 1,185,568
48Granite Construction Inc., Section 10b CEO totalDEF 14A2026-04-230000861459-26-000012CEO total compensation as printed in Granite Construction Inc.'s own proxy. As printed: 9,861,425. Filing ↗machine: t43 · r4 · c18 · span 618853–618862
49Sterling Infrastructure Inc., Section 10b CEO totalDEF 14A2026-03-250000874238-26-000042CEO total compensation as printed in Sterling Infrastructure Inc.'s own proxy. As printed: 8,414,685. Filing ↗machine: span 669281–669290
50Arcosa Inc., Section 10b CEO totalDEF 14A2026-03-310001739445-26-000050CEO total compensation as printed in Arcosa Inc.'s own proxy. As printed: 8,092,216. Filing ↗machine: t194 · r4 · c14 · span 1027065–1027074
51MYR Group Inc., Section 10b CEO totalDEF 14A2026-03-040000700923-26-000017CEO total compensation as printed in MYR Group Inc.'s own proxy. As printed: 6,387,221. Filing ↗machine: r2 · c24 · span 728070–728079
52IES Holdings Inc., Section 10b CEO totalDEF 14A2026-01-070001048268-26-000018CEO total compensation as printed in IES Holdings Inc.'s own proxy. As printed: 6,203,398. Filing ↗machine: r6 · c48 · span 402367–402376
53Mistras Group Inc., Section 10b CEO totalDEF 14A2026-04-070001140361-26-013689CEO total compensation as printed in Mistras Group Inc.'s own proxy. As printed: 3,610,368. Filing ↗machine: r2 · c25 · span 790504–790513
54Matrix Service (subject), Section 10b CEO totalDEF 14A2025-09-240001140361-25-036001CEO total compensation as printed in Matrix Service's own proxy. As printed: 3,069,459. Filing ↗machine: r2 · c21 · span 521326–521335
55Orion Group Holdings Inc., Section 10b CEO totalDEF 14A2026-03-200001873923-26-000073CEO total compensation as printed in Orion Group Holdings Inc.'s own proxy. As printed: 2,080,319. Filing ↗machine: r4 · c39 · span 433823–433832
56Section 10a, Arcosa Inc. reciprocityDEF 14A0001739445-26-000050Arcosa Inc.'s most recent proxy was read; its disclosed peer group does not include Matrix Service. Filing ↗
57Section 10a, Sterling Infrastructure Inc. reciprocityDEF 14A0000874238-26-000042Sterling Infrastructure Inc.'s most recent proxy was read; its disclosed peer group does not include Matrix Service. Filing ↗
58Section 10a, Mistras Group Inc. reciprocityDEF 14A0001140361-26-013689Mistras Group Inc. names Matrix Service in its own disclosed peer group (read from its most recent proxy). Filing ↗
59Section 10a, Granite Construction Inc. reciprocityDEF 14A0000861459-26-000012Granite Construction Inc.'s most recent proxy was read; its disclosed peer group does not include Matrix Service. Filing ↗
60Section 10a, MYR Group Inc. reciprocityDEF 14A0000700923-26-000017MYR Group Inc. names Matrix Service in its own disclosed peer group (read from its most recent proxy). Filing ↗
61Section 10a, Orion Group Holdings Inc. reciprocityDEF 14A0001873923-26-000073Orion Group Holdings Inc.'s most recent proxy was read; its disclosed peer group does not include Matrix Service. Filing ↗