Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-05-11

PureCycle Technologies (PCT)

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.

$6,237,167
Dustin Olson total, FY2025
89th
CEO pay percentile vs peers
47:1
CEO-to-median pay ratio
85.75%
Say-on-pay support, latest vote
Companies that benchmark against PCT
1 company names PCT as a compensation peer

Each company listed discloses PCT 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 PCT 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
Dustin Olson$773,000$0$4,548,019$674,998$216,440$0$24,711$6,237,167
Chief Executive Officer
Jaime Vasquez510,0000538,334159,36899,960010,4781,318,141
Chief Financial Officer
Brad Kalter448,8000473,723140,24587,964016,6331,167,365
General Counsel, Chief Compliance Officer & Corporate 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.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Dustin Olson$6,237,167
Jaime Vasquez1,318,141
Brad Kalter1,167,365

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.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Brad KalterPSU2025-02-207,54815,09630,192$157,904
Brad KalterRSU2025-02-2030,193315,819
Brad KalterOPTION2025-02-2016,897140,245
Jaime VasquezPSU2025-02-208,57717,15534,310179,441
Dustin OlsonPSU2025-02-2036,32972,658145,316760,003
Dustin OlsonRSU2025-02-20145,3171,520,016
Dustin OlsonRSU2025-06-16200,0002,268,000
Dustin OlsonOPTION2025-02-2081,325674,998
Jaime VasquezOPTION2025-02-2019,201159,368
Jaime VasquezRSU2025-02-2034,311358,893
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Brad Kalter$315,819$157,904$140,24525.7%
Jaime Vasquez358,893179,441159,36825.7%
Dustin Olson3,788,016760,003674,99814.6%

% 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
Dustin OlsonRSU227,528$1,954,466
Dustin OlsonRSU145,3171,248,273
Dustin OlsonRSU131,5791,130,264
Jaime VasquezRSU53,722461,472
Dustin OlsonRSU46,052395,587
Brad KalterRSU42,978369,181
Brad KalterRSU40,507348,496
Jaime VasquezRSU34,311294,731
Brad KalterRSU30,193259,358
Brad KalterRSU26,250225,488
Dustin OlsonRSU28,333243,380
Dustin OlsonRSU14,706126,325
Brad KalterRSU14,326123,060
Brad KalterRSU10,50590,238
Brad KalterRSU14,200121,978
Dustin OlsonRSU5,44246,747
Dustin OlsonOption169,3005.72
Dustin OlsonOption148,3515.73
Dustin OlsonOption81,32510.58
Jaime VasquezOption35,0275.73
Brad KalterOption52,2005.72
Brad KalterOption28,0215.73
Brad KalterOption16,89710.58
05

Incentive-plan design — the Compensation Discussion & Analysis

PureCycle's executive compensation program is designed to attract, develop, and retain industry leading talent who possess the appropriate skill sets and leadership expertise to execute on our near-term and long-term strategy. We seek to design executive compensation to align the interests and objectives of our executives with shareholder interests by providing annual equity awards to all team members to encourage them to 'act like owners' and strategically differentiate ourselves from others in the market. We also ensure that cash compensation is largely at-risk and dependent upon achievement of appropriate financial and operational goals.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantFrederic W. Cook & Co., Inc. (FW Cook)
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-0775,421,35312,538,570294,49185.75%Passed
20252025-05-0881,111,2801,478,674249,87198.21%Passed
20242024-05-0870,981,88420,262,151374,03877.79%Passed
20232023-05-10108,169,2424,648,94161,60195.88%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
20262026-05-0785.75%a
20252025-05-0898.21%b
20242024-05-0877.79%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.

07

CEO pay ratio

Ratio (CEO : median employee)47 : 1
CEO total compensation
Median employee compensation$133,283
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Dan CoombsNot independent · Board Chair · Operational Excellence$170,000$126,929$296,929
Allen JacobyIndependent · Compensation · Nominating & Corporate Governance (Chair)142,917126,929269,846
Tanya BurnellIndependent · Lead Independent Director · Audit & Finance (Chair) · Compensation115,000126,929241,929
Steven BouckIndependent · Audit & Finance · Compensation110,000126,929236,929
Fernando MusaIndependent · Nominating & Corporate Governance106,042126,929232,971
Jeffrey FielerIndependent · Departed during FY79,167126,929206,096
Daniel GibsonNot independent · Operational Excellence56,250126,929183,179
Siri JirapongphanIndependent · Audit · Operational Excellence · Newly elected14,16759,09273,259
Dustin OlsonEmployee director · Operational Excellence0
Valerie MarsIndependent · Audit · Newly elected
09

Board fee structure and ownership guideline

Annual cash retainer$75,000
Annual equity retainer$125,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)30,000 / 20,000 / 15,000
Stock ownership guideline$300,000
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$793,543
Equity awards (grant-date value)$947,595
All other compensation$0
Total cost of the board$1,741,138

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.

10a

Peer reciprocity

Of the companies PureCycle Technologies 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 PureCycle Technologies.

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
1Enviri Corp.2024F. Nicholas Grasberger III$1,014,269$3,493,664$887,489$758,673$6,266,045
2PureCycle Technologies2025Dustin Olson773,0004,548,019674,998216,4406,237,167
3NuScale Power Corporation2025John Hopkins632,6152,899,9870512,7854,084,073
4Ormat Technologies, Inc.2025Doron Blachar641,0622,000,0000816,0003,618,005
5Bloom Energy Corporation2025KR Sridhar935,385002,470,0003,502,747
6Energy Recovery, Inc.2025David Moon614,2312,599,996003,222,147
7Montrose Environmental Group, Inc.2025Vijay Manthripragada950,000002,185,0003,149,000
8Casella Waste Systems, Inc.2025Edmond Coletta615,1341,644,3770553,6192,830,523
9Plug Power, Inc.2025Jose Luis Crespo397,47101,196,250526,4002,618,833
10Montauk Renewables, Inc.2025Sean McClain454,713000671,702
AdvanSix Inc.not in coverage universe
Loop Industries, Inc.not in coverage universe
Ecovyst, 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
PureCycle Technologiesnot disclosednot disclosednot disclosedFrederic W. Cook & Co., Inc. (FW Cook)
AdvanSix Inc.not disclosednot disclosednot disclosednot disclosed
Bloom Energy Corporation200%PSU 50 · RSU 50NoMeridian
Casella Waste Systems, Inc.not disclosedPSU 75 · RSU 25NoPay Governance
Ecovyst, Inc.not disclosednot disclosednot disclosednot disclosed
Energy Recovery, Inc.not disclosedRSU 50 · PSU 50NoCompensia, Inc.
Enviri Corp.68%PSU 50 · RSU 25 · Options 25Yes — Total Stockholder Return (TSR) relative to S&P 600 Industrials IndexPearl Meyer & Partners, LLP
Loop Industries, Inc.not disclosednot disclosednot disclosednot disclosed
Montauk Renewables, Inc.not disclosedOptions 100not disclosednot disclosed
Montrose Environmental Group, Inc.200%RSU 100NoExequity LLP
NuScale Power Corporationnot disclosedRSU 100not disclosedFW Cook
Ormat Technologies, Inc.97%PSU 60 · RSU 40Yes — Relative TSRF.W. Cook & Co.
Plug Power, Inc.112%Options 100not disclosedFrederic W. Cook & Co., Inc. and Alpine Rewards, LLC

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, Dustin OlsonDEF 14A2026-03-270001193125-26-127753Section “2025 Summary Compensation Table”. As printed: 6,237,167. Filing ↗
2Section 01, Jaime VasquezDEF 14A2026-03-270001193125-26-127753Section “2025 Summary Compensation Table”. As printed: 1,318,141. Filing ↗
3Section 01, Brad KalterDEF 14A2026-03-270001193125-26-127753Section “2025 Summary Compensation Table”. As printed: 1,167,365. Filing ↗
4Section 03, Brad Kalter PSUDEF 14A2026-03-270001193125-26-127753Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 544821–544828
5Section 03, Brad Kalter RSUDEF 14A2026-03-270001193125-26-127753Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 547613–547620
6Section 03, Brad Kalter OPTIONDEF 14A2026-03-270001193125-26-127753Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 550424–550431
7Section 03, Jaime Vasquez PSUDEF 14A2026-03-270001193125-26-127753Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 533599–533606
8Section 03, Dustin Olson PSUDEF 14A2026-03-270001193125-26-127753Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 519479–519486
9Section 03, Dustin Olson RSUDEF 14A2026-03-270001193125-26-127753Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 522272–522281
10Section 03, Dustin Olson RSUDEF 14A2026-03-270001193125-26-127753Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 527846–527855
11Section 03, Dustin Olson OPTIONDEF 14A2026-03-270001193125-26-127753Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 525053–525060
12Section 03, Jaime Vasquez OPTIONDEF 14A2026-03-270001193125-26-127753Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 539007–539014
13Section 03, Jaime Vasquez RSUDEF 14A2026-03-270001193125-26-127753Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 536366–536373
14Section 07, pay ratioDEF 14A2026-03-270001193125-26-127753Section “CEO Pay Ratio”. As printed: 47 : 1. Filing ↗
15Section 08, Dan CoombsDEF 14A2026-03-270001193125-26-127753Section “Director Compensation”. As printed: 296,929. Filing ↗machine: span 168956–168963
16Section 08, Allen JacobyDEF 14A2026-03-270001193125-26-127753Section “Director Compensation”. As printed: 269,846. Filing ↗machine: span 172275–172282
17Section 08, Tanya BurnellDEF 14A2026-03-270001193125-26-127753Section “Director Compensation”. As printed: 241,929. Filing ↗machine: span 167302–167309
18Section 08, Steven BouckDEF 14A2026-03-270001193125-26-127753Section “Director Compensation”. As printed: 236,929. Filing ↗machine: span 165695–165702
19Section 08, Fernando MusaDEF 14A2026-03-270001193125-26-127753Section “Director Compensation”. As printed: 232,971. Filing ↗machine: span 173882–173889
20Section 08, Jeffrey FielerDEF 14A2026-03-270001193125-26-127753Section “Director Compensation”. As printed: 206,096. Filing ↗machine: span 170619–170626
21Section 08, Daniel GibsonDEF 14A2026-03-270001193125-26-127753Section “Director Compensation”. As printed: 183,179. Filing ↗machine: span 175538–175545
22Section 08, Siri JirapongphanDEF 14A2026-03-270001193125-26-127753Section “Director Compensation”. As printed: 73,259. Filing ↗machine: span 177203–177209
23Section 08, Dustin OlsonDEF 14A2026-03-270001193125-26-127753Section “Director Compensation”. As printed: 0. Filing ↗
24Section 08, Valerie MarsDEF 14A2026-03-270001193125-26-127753Section “Director Compensation”. As printed: —. Filing ↗
25Section 06, 2026 voteForm 8-K2026-05-110001830033-26-000017Item 5.07 · say-on-pay result. As reported: 85.75% (votes for as printed: 75,421,353). Filing ↗
26Section 06, 2025 voteForm 8-K2025-05-120000950170-25-068587Item 5.07 · say-on-pay result. As reported: 98.21% (votes for as printed: 81,111,280). Filing ↗
27Section 06, 2024 voteForm 8-K2024-05-130000950170-24-058844Item 5.07 · say-on-pay result. As reported: 77.79% (votes for as printed: 70,981,884.42). Filing ↗
28Section 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
29Section 09b board cost (computed)ComputedcomputedCash 793,543 + equity 947,595 + all other 0 = 1,741,138, summed across the director compensation table rows.machine: formula: Σ = 1,741,138
30Enviri Corp., Section 10b CEO totalDEF 14A2025-03-120001193125-25-053042CEO total compensation as printed in Enviri Corp.'s own proxy. As printed: 6,266,045. Filing ↗machine: t268 · r6 · c44 · span 945716–945726
31PureCycle Technologies (subject), Section 10b CEO totalDEF 14A2026-03-270001193125-26-127753CEO total compensation as printed in PureCycle Technologies's own proxy. As printed: 6,237,167. Filing ↗
32NuScale Power Corporation, Section 10b CEO totalDEF 14A2026-04-150001822966-26-000042CEO total compensation as printed in NuScale Power Corporation's own proxy. As printed: 4,084,073. Filing ↗machine: r3 · c24 · span 447378–447387
33Ormat Technologies, Inc., Section 10b CEO totalDEF 14A2026-04-210001193125-26-166752CEO total compensation as printed in Ormat Technologies, Inc.'s own proxy. As printed: 3,618,005. Filing ↗machine: r5 · c14 · span 1948476–1948485
34Bloom Energy Corporation, Section 10b CEO totalDEF 14A2026-04-080001628280-26-024237CEO total compensation as printed in Bloom Energy Corporation's own proxy. As printed: 3,502,747. Filing ↗machine: t217 · r2 · c17 · span 1617061–1617070
35Energy Recovery, Inc., Section 10b CEO totalDEF 14A2026-04-210001421517-26-000033CEO total compensation as printed in Energy Recovery, Inc.'s own proxy. As printed: 3,222,147. Filing ↗machine: t138 · r4 · c14 · span 2344778–2344787
36Montrose Environmental Group, Inc., Section 10b CEO totalDEF 14A2026-03-240001193125-26-121792CEO total compensation as printed in Montrose Environmental Group, Inc.'s own proxy. As printed: 3,149,000. Filing ↗machine: r4 · c7 · span 1172434–1172443
37Casella Waste Systems, Inc., Section 10b CEO totalDEF 14A2026-04-170001193125-26-161565CEO 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
38Plug Power, Inc., Section 10b CEO totalDEF 14A2026-04-300001104659-26-052851CEO total compensation as printed in Plug Power, Inc.'s own proxy. As printed: 2,618,833. Filing ↗machine: t29 · r2 · c47 · span 555333–555342
39Montauk Renewables, Inc., Section 10b CEO totalDEF 14A2026-04-100001193125-26-150358CEO total compensation as printed in Montauk Renewables, Inc.'s own proxy. As printed: 671,702. Filing ↗machine: r4 · c39 · span 310462–310469
40Section 10a, Enviri Corp. reciprocityDEF 14A0001193125-25-053042Enviri Corp.'s most recent proxy was read; its disclosed peer group does not include PureCycle Technologies. Filing ↗
41Section 10a, Plug Power, Inc. reciprocityDEF 14A0001104659-26-052851Plug Power, Inc.'s most recent proxy was read; its disclosed peer group does not include PureCycle Technologies. Filing ↗
42Section 10a, Casella Waste Systems, Inc. reciprocityDEF 14A0001193125-26-161565Casella Waste Systems, Inc.'s most recent proxy was read; its disclosed peer group does not include PureCycle Technologies. Filing ↗
43Section 10a, Energy Recovery, Inc. reciprocityDEF 14A0001421517-26-000033Energy Recovery, Inc.'s most recent proxy was read; its disclosed peer group does not include PureCycle Technologies. Filing ↗
44Section 10a, NuScale Power Corporation reciprocityDEF 14A0001822966-26-000042NuScale Power Corporation's most recent proxy was read; its disclosed peer group does not include PureCycle Technologies. Filing ↗
45Section 10a, Montrose Environmental Group, Inc. reciprocityDEF 14A0001193125-26-121792Montrose Environmental Group, Inc.'s most recent proxy was read; its disclosed peer group does not include PureCycle Technologies. Filing ↗
46Section 10a, Bloom Energy Corporation reciprocityDEF 14A0001628280-26-024237Bloom Energy Corporation's most recent proxy was read; its disclosed peer group does not include PureCycle Technologies. Filing ↗