Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-04-23

Net Power (NPWR)

CEO Daniel Rice was paid $43,234 in fiscal year 2025, ↓ down 99.8% from fiscal year 2024 (SEC filing 0001140361-26-016383 ↗): 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.

$1,698,738
Brian Allen total, FY2025
Former President and Chief Operating Officer — highest-paid officer; CEO Daniel Rice: $43,234
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CEO (Daniel Rice) pay percentile vs peers
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CEO-to-median pay ratio
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NPWR's next annual pay disclosure, estimated April 22, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Brian Allen$106,250$0$850,000$0$0$0$742,488$1,698,738
Former President and Chief Operating Officer
Marc Horstman382,167100,000929,5580210,30001,5911,623,616
Chief Operating Officer and President
Akash Patel105,0000756,000000739,3551,600,355
Former Chief Financial Officer
Daniel Rice00000043,23443,234
Chief Executive 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 FY2024→2025
Brian Allen$1,698,738$6,278,805$646,157↓ −4,580,067
Marc Horstman1,623,616———
Akash Patel1,600,3555,133,637587,578↓ −3,533,282
Daniel Rice43,23420,995,052—↓ −20,951,818

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 NPWR

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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
Brian AllenRSU2025-04-02——117,757——
Akash PatelRSU2025-04-02——132,399——
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
Marc HorstmanRSU93,458—$213,084
Marc HorstmanRSU46,729—106,542
Marc HorstmanPSU74,766—81,494
Marc HorstmanRSU20,000—45,600
Marc HorstmanRSU5,627—12,829
05

Incentive-plan design — the Compensation Discussion & Analysis

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultant—
Clawback policy—
Anti-hedging—
Anti-pledging—
09

Board fee structure and ownership guideline

Annual cash retainer$60,000
Annual equity retainer$150,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)20,000 / 15,000 / 12,000
Stock ownership guideline—
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
1Net Power2025Daniel Rice$0$0$0$0$43,234

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 Net Power in fiscal 2025?
As disclosed, Brian Allen (Former President and Chief Operating Officer) was the highest-paid executive at Net Power in fiscal 2025, with total compensation of $1,698,738.

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, Brian AllenDEF 14A2026-04-230001140361-26-016383Section “Executive Compensation”. As printed: 1,698,738. Filing ↗machine: r4 · c21 · span 442747–442756
2Section 01, Marc HorstmanDEF 14A2026-04-230001140361-26-016383Section “Executive Compensation”. As printed: 1,623,616. Filing ↗machine: r8 · c21 · span 458669–458678
3Section 01, Akash PatelDEF 14A2026-04-230001140361-26-016383Section “Executive Compensation”. As printed: 1,600,355. Filing ↗machine: r6 · c21 · span 450928–450937
4Section 01, Daniel RiceDEF 14A2026-04-230001140361-26-016383Section “Executive Compensation”. As printed: 43,234. Filing ↗machine: r2 · c21 · span 434601–434607
5Section 03, Brian Allen RSUDEF 14A2026-04-230001140361-26-016383Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 482798–482805
6Section 03, Akash Patel RSUDEF 14A2026-04-230001140361-26-016383Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 482784–482791
7Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
8Net Power (subject), Section 10b CEO totalDEF 14A2026-04-230001140361-26-016383CEO total compensation as printed in Net Power's own proxy. As printed: 43,234. Filing ↗machine: r2 · c21 · span 434601–434607

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