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.
This is the complete answer, not a partial one — the list is never padded.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Matthew Schatzman | $925,000 | $0 | $9,903,480 | $0 | $2,014,781 | $0 | $0 | $12,843,261 |
| Chairman and Chief Executive Officer | ||||||||
| Vera de Gyarfas | 521,667 | 0 | 2,235,050 | 0 | 762,730 | 0 | 21,000 | 3,540,447 |
| General Counsel and Corporate Secretary | ||||||||
| Tarik Skeik | 463,333 | 0 | 1,926,500 | 0 | 664,110 | 0 | 21,000 | 3,074,943 |
| Chief Operating Officer | ||||||||
| Michael Mott | 438,890 | 0 | 809,120 | 0 | 469,587 | 0 | 0 | 1,717,597 |
| Interim Chief Financial Officer | ||||||||
| Brent Wahl | 456,250 | 0 | 1,038,572 | 0 | 0 | 0 | 0 | 1,494,822 |
| Former Chief Financial 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.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Matthew Schatzman | $12,843,261 | — | — | — |
| Vera de Gyarfas | 3,540,447 | — | — | — |
| Tarik Skeik | 3,074,943 | — | — | — |
| Michael Mott | 1,717,597 | — | — | — |
| Brent Wahl | 1,494,822 | — | — | — |
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 |
|---|---|---|---|---|---|---|---|
| Michael Mott | PSU | 2025-09-16 | 0 | 41,721 | — | 41,721 | $290,795 |
| Vera de Gyarfas | RSU | 2025-08-29 | — | — | 58,302 | — | 624,997 |
| Vera de Gyarfas | PSU | 2025-08-29 | 29,151 | 58,302 | — | 116,604 | 917,673 |
| Vera de Gyarfas | PSU | 2025-09-16 | 0 | 99,337 | — | 99,337 | 692,379 |
| Tarik Skeik | PSU | 2025-08-29 | 23,321 | 46,641 | — | 93,282 | 734,129 |
| Michael Mott | RSU | 2025-08-29 | — | — | 19,589 | — | 209,994 |
| Michael Mott | PSU | 2025-08-29 | 9,795 | 19,589 | — | 39,178 | 308,331 |
| Matthew Schatzman | PSU | 2025-08-29 | 128,265 | 256,529 | — | 513,058 | 4,037,766 |
| Matthew Schatzman | RSU | 2025-08-29 | — | — | 256,529 | — | 2,749,991 |
| Matthew Schatzman | PSU | 2025-09-16 | 0 | 447,019 | — | 447,019 | 3,115,722 |
| Tarik Skeik | RSU | 2025-08-29 | — | — | 46,641 | — | 499,992 |
| Tarik Skeik | PSU | 2025-09-16 | 0 | 99,337 | — | 99,337 | 692,379 |
| Brent Wahl | PSU | 2025-09-16 | 0 | 149,006 | — | 149,006 | 1,038,572 |
| Brent Wahl | PSU | 2025-08-29 | 40,812 | 81,623 | — | 163,246 | 1,284,746 |
| Brent Wahl | RSU | 2025-08-29 | — | — | 81,623 | — | 874,999 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Michael Mott | $209,994 | $599,126 | $0 | 74.0% |
| Vera de Gyarfas | 624,997 | 1,610,052 | 0 | 72.0% |
| Tarik Skeik | 499,992 | 1,426,508 | 0 | 74.0% |
| Matthew Schatzman | 2,749,991 | 7,153,488 | 0 | 72.2% |
| Brent Wahl | 874,999 | 2,323,318 | 0 | 72.6% |
% 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 |
|---|---|---|---|---|
| Matthew Schatzman | RSU | 1,907,322 | — | $10,051,587 |
| Vera de Gyarfas | RSU | 409,627 | — | 2,158,734 |
| Matthew Schatzman | PSU | 244,100 | — | 1,286,409 |
| Tarik Skeik | RSU | 196,212 | — | 1,034,037 |
| Michael Mott | RSU | 166,712 | — | 878,572 |
| Brent Wahl | RSU | 74,503 | — | 392,631 |
| Vera de Gyarfas | PSU | 54,892 | — | 289,282 |
| Tarik Skeik | PSU | 23,321 | — | 122,899 |
| Michael Mott | PSU | 20,606 | — | 108,592 |
| Matthew Schatzman | Option | 409,090 | 10 | — |
| Michael Mott | Option | 38,181 | 10 | — |
| Tarik Skeik | Option | 90,909 | 10 | — |
| Vera de Gyarfas | Option | 90,909 | 10 | — |
The Compensation Committee designs NextDecade’s executive compensation programs to reinforce performance, accountability, and long-term stockholder value creation through the safe and efficient delivery of lower carbon energy through LNG infrastructure.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-03 | 164,777,795 | 32,970,500 | 186,179 | 83.33% | Passed |
| 2025 | 2025-06-04 | 189,733,968 | 22,626,202 | 245,380 | 89.35% | Passed |
| 2024 | 2024-06-03 | 181,260,426 | 8,209,927 | 150,437 | 95.67% | Passed |
| 2022 | 2022-06-22 | 118,896,165 | 8,714,966 | 9,932 | 93.17% | Passed |
| 2021 | 2021-06-15 | 119,248,989 | 217,207 | 5,680 | 99.82% | 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.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-06-03 | 83.33%a |
| 2025 | 2025-06-04 | 89.35%b |
| 2024 | 2024-06-03 | 95.67%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.
| Ratio (CEO : median employee) | 53 : 1 |
|---|---|
| CEO total compensation | — |
| Median employee compensation | $242,610 |
| Annual cash retainer | $100,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 17,500 |
| Stock ownership guideline | $500,000 |
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Of the companies NextDecade 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 NextDecade.
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 | Cheniere Energy, Inc. | 2025 | Jack Fusco | $1,765,385 | $19,291,784 | $0 | $4,569,600 | $25,647,769 |
| 2 | NRG Energy, Inc. | 2025 | Lawrence Coben | 1,473,423 | 16,764,473 | 0 | 3,505,230 | 21,788,422 |
| 3 | Targa Resources Corp. | 2025 | Matthew Meloy | 1,170,667 | 16,275,993 | 0 | 0 | 21,470,708 |
| 4 | Sempra | 2025 | Jeffrey Martin | 1,700,000 | 9,873,916 | 4,580,017 | 0 | 21,441,333 |
| 5 | Talen Energy Corp. | 2025 | Mark McFarland | 1,131,346 | 14,505,986 | 0 | 2,054,413 | 18,739,647 |
| 6 | Coterra Energy Inc. | 2024 | Thomas Jorden | 1,198,558 | 10,628,850 | 0 | 2,500,000 | 14,748,960 |
| 7 | APA Corp. | 2025 | John Christmann IV | 1,300,000 | 6,018,436 | 1,897,996 | 3,454,360 | 13,202,517 |
| 8 | NextDecade | 2025 | Matthew Schatzman | 925,000 | 9,903,480 | 0 | 2,014,781 | 12,843,261 |
| 9 | DT Midstream, Inc. | 2025 | David Slater | 852,203 | 6,282,371 | 0 | 1,839,938 | 9,328,071 |
| 10 | Kinetik Holdings Inc. | 2025 | Jamie Welch | 276,923 | 5,140,841 | 0 | 487,500 | 6,156,243 |
| — | Magnolia Oil & Gas Corp. | — | — | — | — | — | — | not in coverage universe |
| — | Venture Global, 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 |
|---|---|---|---|---|
| NextDecade | not disclosed | not disclosed | not disclosed | not disclosed |
| APA Corp. | 189.8% | PSU 60 · Options 20 · RSU 20 | Yes — Relative TSR | Pearl Meyer & Partners, LLC |
| Cheniere Energy, Inc. | 160% | PSU 50 · RSU 50 | Yes — ATSR | Meridian |
| Coterra Energy Inc. | 174% | PSU 50 · RSU 50 | Yes — Relative TSR | Zayla Partners |
| DT Midstream, Inc. | 152.62% | PSU 70 · RSU 30 | No | Meridian Compensation Partners LLC |
| Kinetik Holdings Inc. | 65% | PSU 50 · RSU 50 | Yes — Annualized TSR | Meridian Compensation Partners |
| Magnolia Oil & Gas Corp. | not disclosed | not disclosed | not disclosed | not disclosed |
| NRG Energy, Inc. | 158% | PSU 67 · RSU 33 | Yes — Relative TSR vs S&P 500 constituents | Pay Governance |
| Sempra | not disclosed | not disclosed | not disclosed | Exequity |
| Talen Energy Corp. | 135% | PSU 70 · RSU 30 | No | Lyons, Benenson & Company Inc. |
| Targa Resources Corp. | 190% | PSU 50 · RSU 50 | Yes — Relative TSR vs. Alerian US Midstream Index (AMUS) | Meridian Compensation Partners |
| Venture Global, 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, Matthew Schatzman | DEF 14A | 2026-04-23 | 0001612720-26-000018 | Section “Executive Compensation”. As printed: 12,843,261. Filing ↗machine: r2 · c42 · span 410990–411000 |
| 2 | Section 01, Vera de Gyarfas | DEF 14A | 2026-04-23 | 0001612720-26-000018 | Section “Executive Compensation”. As printed: 3,540,447. Filing ↗machine: r7 · c42 · span 424520–424529 |
| 3 | Section 01, Tarik Skeik | DEF 14A | 2026-04-23 | 0001612720-26-000018 | Section “Executive Compensation”. As printed: 3,074,943. Filing ↗machine: r10 · c42 · span 433643–433652 |
| 4 | Section 01, Michael Mott | DEF 14A | 2026-04-23 | 0001612720-26-000018 | Section “Executive Compensation”. As printed: 1,717,597. Filing ↗machine: r5 · c42 · span 420091–420100 |
| 5 | Section 01, Brent Wahl | DEF 14A | 2026-04-23 | 0001612720-26-000018 | Section “Executive Compensation”. As printed: 1,494,822. Filing ↗machine: r13 · c42 · span 442099–442108 |
| 6 | Section 03, Michael Mott PSU | DEF 14A | 2026-04-23 | 0001612720-26-000018 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 506268–506275 |
| 7 | Section 03, Vera de Gyarfas RSU | DEF 14A | 2026-04-23 | 0001612720-26-000018 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 513188–513195 |
| 8 | Section 03, Vera de Gyarfas PSU | DEF 14A | 2026-04-23 | 0001612720-26-000018 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 511332–511339 |
| 9 | Section 03, Vera de Gyarfas PSU | DEF 14A | 2026-04-23 | 0001612720-26-000018 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 515489–515496 |
| 10 | Section 03, Tarik Skeik PSU | DEF 14A | 2026-04-23 | 0001612720-26-000018 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 520548–520555 |
| 11 | Section 03, Michael Mott RSU | DEF 14A | 2026-04-23 | 0001612720-26-000018 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 503967–503974 |
| 12 | Section 03, Michael Mott PSU | DEF 14A | 2026-04-23 | 0001612720-26-000018 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 502111–502118 |
| 13 | Section 03, Matthew Schatzman PSU | DEF 14A | 2026-04-23 | 0001612720-26-000018 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 492886–492895 |
| 14 | Section 03, Matthew Schatzman RSU | DEF 14A | 2026-04-23 | 0001612720-26-000018 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 494745–494754 |
| 15 | Section 03, Matthew Schatzman PSU | DEF 14A | 2026-04-23 | 0001612720-26-000018 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 497050–497059 |
| 16 | Section 03, Tarik Skeik RSU | DEF 14A | 2026-04-23 | 0001612720-26-000018 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 522404–522411 |
| 17 | Section 03, Tarik Skeik PSU | DEF 14A | 2026-04-23 | 0001612720-26-000018 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 524705–524712 |
| 18 | Section 03, Brent Wahl PSU | DEF 14A | 2026-04-23 | 0001612720-26-000018 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 533930–533939 |
| 19 | Section 03, Brent Wahl PSU | DEF 14A | 2026-04-23 | 0001612720-26-000018 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 529769–529778 |
| 20 | Section 03, Brent Wahl RSU | DEF 14A | 2026-04-23 | 0001612720-26-000018 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 531627–531634 |
| 21 | Section 07, pay ratio | DEF 14A | 2026-04-23 | 0001612720-26-000018 | Section “CEO Pay Ratio”. As printed: 53 : 1. Filing ↗ |
| 22 | Section 06, 2026 vote | Form 8-K | 2026-06-03 | 0001612720-26-000036 | Item 5.07 · say-on-pay result. As reported: 83.33% (votes for as printed: 164,777,795). Filing ↗ |
| 23 | Section 06, 2025 vote | Form 8-K | 2025-06-05 | 0001628280-25-029743 | Item 5.07 · say-on-pay result. As reported: 89.35% (votes for as printed: 189,733,968). Filing ↗ |
| 24 | Section 06, 2024 vote | Form 8-K | 2024-06-03 | 0001628280-24-026373 | Item 5.07 · say-on-pay result. As reported: 95.67% (votes for as printed: 181,260,426). Filing ↗ |
| 25 | Section 03b vehicle mix (computed) | Computed | — | computed | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 26 | Cheniere Energy, Inc., Section 10b CEO total | DEF 14A | 2026-04-07 | 0001193125-26-144572 | CEO total compensation as printed in Cheniere Energy, Inc.'s own proxy. As printed: 25,647,769. Filing ↗machine: t411 · r3 · c27 · span 1229633–1229643 |
| 27 | NRG Energy, Inc., Section 10b CEO total | DEF 14A | 2026-03-18 | 0001104659-26-030844 | CEO total compensation as printed in NRG Energy, Inc.'s own proxy. As printed: 21,788,422. Filing ↗machine: t178 · r1 · c48 · span 1523683–1523693 |
| 28 | Targa Resources Corp., Section 10b CEO total | DEF 14A | 2026-03-26 | 0001193125-26-126280 | CEO total compensation as printed in Targa Resources Corp.'s own proxy. As printed: 21,470,708. Filing ↗machine: span 963425–963435 |
| 29 | Sempra, Section 10b CEO total | DEF 14A | 2026-03-27 | 0001193125-26-127603 | CEO total compensation as printed in Sempra's own proxy. As printed: 21,441,333. Filing ↗machine: r6 · c23 · span 1678334–1678345 |
| 30 | Talen Energy Corp., Section 10b CEO total | DEF 14A | 2026-03-19 | 0001622536-26-000023 | CEO total compensation as printed in Talen Energy Corp.'s own proxy. As printed: 18,739,647. Filing ↗machine: span 425658–425668 |
| 31 | Coterra Energy Inc., Section 10b CEO total | DEF 14A | 2025-03-20 | 0001104659-25-026126 | CEO total compensation as printed in Coterra Energy Inc.'s own proxy. As printed: 14,748,960. Filing ↗machine: t61 · r1 · c63 · span 936374–936384 |
| 32 | APA Corp., Section 10b CEO total | DEF 14A | 2026-04-09 | 0001193125-26-149453 | CEO total compensation as printed in APA Corp.'s own proxy. As printed: 13,202,517. Filing ↗machine: t67 · r2 · c24 · span 1213765–1213775 |
| 33 | NextDecade (subject), Section 10b CEO total | DEF 14A | 2026-04-23 | 0001612720-26-000018 | CEO total compensation as printed in NextDecade's own proxy. As printed: 12,843,261. Filing ↗machine: r2 · c42 · span 410990–411000 |
| 34 | DT Midstream, Inc., Section 10b CEO total | DEF 14A | 2026-03-26 | 0001140361-26-011280 | CEO total compensation as printed in DT Midstream, Inc.'s own proxy. As printed: 9,328,071. Filing ↗machine: t213 · r2 · c19 · span 834643–834652 |
| 35 | Kinetik Holdings Inc., Section 10b CEO total | DEF 14A | 2026-04-08 | 0001692787-26-000086 | CEO total compensation as printed in Kinetik Holdings Inc.'s own proxy. As printed: 6,156,243. Filing ↗machine: r4 · c21 · span 711505–711514 |
| 36 | Section 10a, Cheniere Energy, Inc. reciprocity | DEF 14A | — | 0001193125-26-144572 | Cheniere Energy, Inc.'s most recent proxy was read; its disclosed peer group does not include NextDecade. Filing ↗ |
| 37 | Section 10a, Targa Resources Corp. reciprocity | DEF 14A | — | 0001193125-26-126280 | Targa Resources Corp.'s most recent proxy was read; its disclosed peer group does not include NextDecade. Filing ↗ |
| 38 | Section 10a, DT Midstream, Inc. reciprocity | DEF 14A | — | 0001140361-26-011280 | DT Midstream, Inc.'s most recent proxy was read; its disclosed peer group does not include NextDecade. Filing ↗ |
| 39 | Section 10a, Kinetik Holdings Inc. reciprocity | DEF 14A | — | 0001692787-26-000086 | Kinetik Holdings Inc.'s most recent proxy was read; its disclosed peer group does not include NextDecade. Filing ↗ |
| 40 | Section 10a, APA Corp. reciprocity | DEF 14A | — | 0001193125-26-149453 | APA Corp.'s most recent proxy was read; its disclosed peer group does not include NextDecade. Filing ↗ |
| 41 | Section 10a, NRG Energy, Inc. reciprocity | DEF 14A | — | 0001104659-26-030844 | NRG Energy, Inc.'s most recent proxy was read; its disclosed peer group does not include NextDecade. Filing ↗ |
| 42 | Section 10a, Sempra reciprocity | DEF 14A | — | 0001193125-26-127603 | Sempra's most recent proxy was read; its disclosed peer group does not include NextDecade. Filing ↗ |
| 43 | Section 10a, Talen Energy Corp. reciprocity | DEF 14A | — | 0001622536-26-000023 | Talen Energy Corp.'s most recent proxy was read; its disclosed peer group does not include NextDecade. Filing ↗ |
| 44 | Section 10a, Coterra Energy Inc. reciprocity | DEF 14A | — | 0001104659-25-026126 | Coterra Energy Inc.'s most recent proxy was read; its disclosed peer group does not include NextDecade. Filing ↗ |