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

Opal Fuels (OPAL)

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.

$3,185,731
Kazi Hasan total, FY2025
Chief Financial Officerhighest-paid officer; CEO Jonathan Maurer: $3,035,118
CEO (Jonathan Maurer) pay percentile vs peers
CEO-to-median pay ratio
Say-on-pay support, latest vote
Companies that benchmark against OPAL
1 company names OPAL as a compensation peer

Each company listed discloses OPAL 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 OPAL 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
Kazi Hasan$432,692$459,506$1,680,000$420,000$0$0$193,533$3,185,731
Chief Financial Officer
Jonathan Maurer614,808395,4531,600,000400,0000024,8573,035,118
Co-Chief Executive Officer
Adam Comora614,808395,4531,600,000400,0000003,010,261
Co-Chief Executive Officer
John Coghlin430,616266,407640,000160,0000013,7601,510,783
General Counsel

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
Kazi Hasan$3,185,731
Jonathan Maurer3,035,1183,031,310+3,808
Adam Comora3,010,2613,006,808+3,453
John Coghlin1,510,7832,169,600−658,817

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

No insider equity transactions reported since the proxy statement.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Kazi HasanRSU513,900$1,212,804
ComoraRSU489,4291,155,052
Jonathan MaurerRSU489,4291,155,052
Kazi HasanRSU312,904738,453
John CoghlinRSU208,334491,669
John CoghlinRSU195,772462,022
ComoraRSU134,409317,205
Jonathan MaurerRSU134,409317,205
Jonathan MaurerRSU35,86984,651
ComoraRSU126,273298,004
Jonathan MaurerRSU126,273298,004
ComoraRSU64,113151,307
John CoghlinRSU22,44052,958
Jonathan MaurerRSU64,113151,307
John CoghlinRSU50,509119,201
ComoraRSU35,86984,651
ComoraRSU23,24354,853
Jonathan MaurerRSU23,24354,853
John CoghlinRSU16,73939,503
John CoghlinRSU10,84725,598
ComoraOption277,7781.53
ComoraOption78,4325.02
ComoraOption19,0126.97
Jonathan MaurerOption277,7781.53
Jonathan MaurerOption78,4325.02
Jonathan MaurerOption19,0126.97
John CoghlinOption111,1121.53
John CoghlinOption27,4515.02
John CoghlinOption8,8726.97
Kazi HasanOption291,6671.53
05

Incentive-plan design — the Compensation Discussion & Analysis

The Company's compensation program is designed to align the interests of executives with those of shareholders by delivering a portion of incentive compensation in the form of equity, enhancing the personal stake of executive officers in the growth and success of the Company, and providing an incentive for continued service.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultant
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Ashok VemuriIndependent · Audit (Chair) · Compensation$90,000$135,000$225,000
Mark ComoraNot independent · Board Chair75,000135,000210,000
James MartellIndependent · Audit75,000135,000210,000
Nadeem NisarIndependent · Compensation70,000135,000205,000
Scott DolsIndependent · Audit68,042135,000203,042
Betsy BattleNot independent60,000135,000195,000
Kevin Fogarty39,667135,000174,667
Lance MollIndependent15,00067,50082,500
Scott SuttonIndependent · Compensation11,66756,25067,917
09

Board fee structure and ownership guideline

Annual cash retainer$60,000
Annual equity retainer$130,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)20,000 / 15,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$504,376
Equity awards (grant-date value)$1,068,750
All other compensation$0
Total cost of the board$1,573,126

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
1Opal Fuels2025Jonathan Maurer$614,808$1,600,000$400,000$0$3,035,118

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.

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, Kazi HasanDEF 14A2026-04-230001628280-26-026900Section “Executive Compensation”. As printed: 3,185,731. Filing ↗machine: r6 · c66 · span 245875–245884
2Section 01, Jonathan MaurerDEF 14A2026-04-230001628280-26-026900Section “Executive Compensation”. As printed: 3,035,118. Filing ↗machine: r4 · c66 · span 239216–239225
3Section 01, Adam ComoraDEF 14A2026-04-230001628280-26-026900Section “Executive Compensation”. As printed: 3,010,261. Filing ↗machine: r2 · c66 · span 232529–232541
4Section 01, John CoghlinDEF 14A2026-04-230001628280-26-026900Section “Executive Compensation”. As printed: 1,510,783. Filing ↗machine: r8 · c66 · span 252280–252289
5Section 08, Ashok VemuriDEF 14A2026-04-230001628280-26-026900Section “Director Compensation”. As printed: 225,000. Filing ↗
6Section 08, Mark ComoraDEF 14A2026-04-230001628280-26-026900Section “Director Compensation”. As printed: 210,000. Filing ↗
7Section 08, James MartellDEF 14A2026-04-230001628280-26-026900Section “Director Compensation”. As printed: 210,000. Filing ↗
8Section 08, Nadeem NisarDEF 14A2026-04-230001628280-26-026900Section “Director Compensation”. As printed: 205,000. Filing ↗
9Section 08, Scott DolsDEF 14A2026-04-230001628280-26-026900Section “Director Compensation”. As printed: 203,042. Filing ↗
10Section 08, Betsy BattleDEF 14A2026-04-230001628280-26-026900Section “Director Compensation”. As printed: 195,000. Filing ↗
11Section 08, Kevin FogartyDEF 14A2026-04-230001628280-26-026900Section “Director Compensation”. As printed: 174,667. Filing ↗
12Section 08, Lance MollDEF 14A2026-04-230001628280-26-026900Section “Director Compensation”. As printed: 82,500. Filing ↗
13Section 08, Scott SuttonDEF 14A2026-04-230001628280-26-026900Section “Director Compensation”. As printed: 67,917. Filing ↗
14Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
15Section 09b board cost (computed)ComputedcomputedCash 504,376 + equity 1,068,750 + all other 0 = 1,573,126, summed across the director compensation table rows.machine: formula: Σ = 1,573,126
16Opal Fuels (subject), Section 10b CEO totalDEF 14A2026-04-230001628280-26-026900CEO total compensation as printed in Opal Fuels's own proxy. As printed: 3,035,118. Filing ↗machine: r4 · c66 · span 239216–239225