CEO Nathan Mazurek was paid $687,500 in fiscal year 2025, ↓ down 74.7% from fiscal year 2024 (SEC filing 0001493152-26-043622 ↗): 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.
$687,500 ↓ Nathan Mazurek total, FY2025 | — CEO pay percentile vs peers | — CEO-to-median pay ratio | 95.46% Say-on-pay support, latest vote |
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PPSI's next annual pay disclosure, estimated September 22, 2027.est. Filing ↗
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Nathan Mazurek | $675,500 | $0 | $0 | $0 | $0 | $0 | $12,000 | $687,500 |
| President, Chief Executive Officer, Chairman of the Board of Directors | ||||||||
| Walter Michalec | 325,000 | 28,000 | 0 | 0 | 0 | 0 | 0 | 353,000 |
| Chief Financial Officer, Secretary, and Treasurer | ||||||||
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 |
|---|---|---|---|---|
| Nathan Mazurek | $687,500 | $2,722,160 | $1,196,014 | ↓ −2,034,660 |
| Walter Michalec | 353,000 | 760,000 | — | ↓ −407,000 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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Each company listed discloses PPSI 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 PPSI in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.
| Executive | Role | FY2025 total |
|---|---|---|
| Nathan Mazurek | CEO | $687,500 |
| Walter Michalec | CFO | $353,000 |
One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2025 total |
|---|---|---|
| David Tesler | Independent Director | $20,000 |
| Ian Ross | Independent Director | $17,000 |
| Jonathan Tulkoff | Independent Director | $24,000 |
| Kytchener Whyte | Director | $12,000 |
| Thomas Klink | Director | $12,000 |
| Yossi Cohn | Independent Director | $19,000 |
No insider equity transactions reported since the proxy statement.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Nathan Mazurek | Option | 1,000 | 4.1 | — |
| Nathan Mazurek | Option | 10,000 | 0.18 | — |
| Nathan Mazurek | Option | 10,000 | 1.81 | — |
| Nathan Mazurek | Option | 5,000 | 1.67 | — |
| Walter Michalec | Option | 43,000 | 1.81 | — |
| Nathan Mazurek | Option | 51,667 | 1.81 | — |
| Nathan Mazurek | Option | 10,000 | 4.42 | — |
| Nathan Mazurek | Option | 1,000 | 2.18 | — |
| Nathan Mazurek | Option | 1,000 | 5.8 | — |
| Nathan Mazurek | Option | 10,000 | 3.75 | — |
| Nathan Mazurek | Option | 130,000 | 5.8 | — |
| Nathan Mazurek | Option | 1,500 | 1.67 | — |
The goals of our executive compensation program are to attract, motivate and retain individuals with the skills and qualities necessary to support and develop our business within the framework of our size and available resources.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | True |
| Anti-hedging | False |
| Anti-pledging | False |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2023 | 2023-11-09 | 3,737,010 | 158,597 | 19,226 | 95.46% | Passed |
| 2020 | 2020-11-12 | 5,012,600 | 55,698 | 4,653 | 98.81% | Passed |
| 2017 | 2017-05-11 | 6,801,674 | 55,433 | 76,026 | 98.1% | 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 |
|---|---|---|
| 2023 | 2023-11-09 | 95.46%a |
| 2020 | 2020-11-12 | 98.81%b |
| 2017 | 2017-05-11 | 98.1%c |
a. Approved under the standard stated in the filing — “Abstentions will have the same effect as a vote against the ratification of the independent registered public accounting firm (Proposal 2) and the approval of the advisory vote on executive compensation (Proposal 3).”.
b. Approved under the standard stated in the filing — “Abstentions will have the same effect as a vote against the ratification of the independent registered public accounting firm (Proposal 2) and the approval of the advisory vote on executive compensation (Proposal 3).”.
c. Approved under the standard stated in the filing — “Abstentions will have the same effect as a vote against the ratification of the independent registered public accounting firm (Proposal 2) and the approval of the advisory vote on executive compensation (Proposal 3).”.
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.
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Jonathan TulkoffIndependent · Audit · Nominating and Corporate Governance | $24,000 | — | — | — | — | $24,000 |
| David TeslerIndependent · Compensation · Nominating and Corporate Governance | 20,000 | — | — | — | — | 20,000 |
| Yossi CohnIndependent · Audit · Compensation | 19,000 | — | — | — | — | 19,000 |
| Ian RossIndependent · Audit (Chair) | 17,000 | — | — | — | — | 17,000 |
| Kytchener WhyteNot independent | 12,000 | — | — | — | — | 12,000 |
| Thomas KlinkNot independent | 12,000 | — | — | — | — | 12,000 |
| Nathan J. MazurekEmployee director · Board Chair | — | — | — | — | — | 0 |
| Annual cash retainer | $0 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | $3,000 |
| Committee chair fees (audit / comp / nom-gov) | — |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $104,000 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $0 |
| Total cost of the board | $104,000 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
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 | Pioneer Power Solutions | 2025 | Nathan Mazurek | $675,500 | $0 | $0 | $0 | $687,500 |
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.
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.
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, Nathan Mazurek | DEF 14A | 2026-09-22 | 0001493152-26-043622 | Section “Executive Compensation”. As printed: 687,500. Filing ↗ |
| 2 | Section 01, Walter Michalec | DEF 14A | 2026-09-22 | 0001493152-26-043622 | Section “Executive Compensation”. As printed: 353,000. Filing ↗ |
| 3 | Section 08, Jonathan Tulkoff | DEF 14A | 2026-09-22 | 0001493152-26-043622 | Section “Director Compensation”. As printed: 24,000. Filing ↗machine: span 426599–426605 |
| 4 | Section 08, David Tesler | DEF 14A | 2026-09-22 | 0001493152-26-043622 | Section “Director Compensation”. As printed: 20,000. Filing ↗machine: span 426181–426187 |
| 5 | Section 08, Yossi Cohn | DEF 14A | 2026-09-22 | 0001493152-26-043622 | Section “Director Compensation”. As printed: 19,000. Filing ↗machine: span 424905–424911 |
| 6 | Section 08, Ian Ross | DEF 14A | 2026-09-22 | 0001493152-26-043622 | Section “Director Compensation”. As printed: 17,000. Filing ↗machine: span 425779–425785 |
| 7 | Section 08, Kytchener Whyte | DEF 14A | 2026-09-22 | 0001493152-26-043622 | Section “Director Compensation”. As printed: 12,000. Filing ↗machine: span 427005–427011 |
| 8 | Section 08, Thomas Klink | DEF 14A | 2026-09-22 | 0001493152-26-043622 | Section “Director Compensation”. As printed: 12,000. Filing ↗machine: span 425370–425376 |
| 9 | Section 08, Nathan J. Mazurek | DEF 14A | 2026-09-22 | 0001493152-26-043622 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 10 | Section 06, 2023 vote | Form 8-K | 2023-11-13 | 0001493152-23-040513 | Item 5.07 · say-on-pay result. As reported: 95.46% (votes for as printed: 3,737,010). Filing ↗ |
| 11 | Section 06, 2020 vote | Form 8-K | 2020-11-16 | 0001387131-20-010019 | Item 5.07 · say-on-pay result. As reported: 98.81%. Filing ↗ |
| 12 | Section 06, 2017 vote | Form 8-K | 2017-05-12 | 0001387131-17-002667 | Item 5.07 · say-on-pay result. As reported: 98.1%. Filing ↗ |
| 13 | Section 01 trend, Δ column (computed) | Computed | — | — | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 14 | Section 09b board cost (computed) | Computed | — | — | Cash 104,000 + equity 0 + all other 0 = 104,000, summed across the director compensation table rows.machine: formula: Σ = 104,000 |
| 15 | Pioneer Power Solutions (subject), Section 10b CEO total | DEF 14A | 2026-09-22 | 0001493152-26-043622 | CEO total compensation as printed in Pioneer Power Solutions's own proxy. As printed: 687,500. Filing ↗ |
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