Companies Summit Midstream Corp
Summit Midstream (SMC): executive pay, fiscal 2025
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CEO pay, last three years
- $5,080,645FY2023
- $6,963,993FY2024
- $5,970,824FY2025
CEO total pay was $5,970,824 in fiscal 2025, down from $6,963,993 in fiscal 2024.
FY2025: salary $766,962 · bonus $0 · stock awards $4,103,760 · option awards $0
Executives and directors
Frequently asked questions
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.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| J. Heath Deneke | $766,962 | $0 | $4,103,760 | $0 | $1,047,162 | $0 | $52,940 | $5,970,824 |
| Chairman of the Board, President and Chief Executive Officer | ||||||||
| James Johnston | 438,455 | 0 | 1,202,761 | 0 | 495,499 | 0 | 36,853 | 2,173,568 |
| Executive Vice President, General Counsel, Chief Compliance Officer and Secretary | ||||||||
| William Mault | 432,564 | 0 | 1,238,866 | 0 | 419,118 | 0 | 24,051 | 2,114,599 |
| Executive Vice President and 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.
Three-year trend — total compensation per named executive
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| J. Heath Deneke | $5,970,824 | $6,963,993 | $5,080,645 | ↓ −993,169 |
| James Johnston | 2,173,568 | 2,530,891 | 1,851,387 | ↓ −357,323 |
| William Mault | 2,114,599 | 2,356,545 | 1,664,362 | ↓ −241,946 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
Our compensation program is based on the philosophy that our executive management team should be aligned with our stockholders, and that our executives should be incentivized and rewarded for performance that advances business goals and the creation of sustainable value in all business cycles, leading to stockholder value creation. We incorporate a pay-for-performance philosophy when designing executive compensation opportunities, placing a meaningful portion of executive pay at risk and tying realized compensation to superior financial results and strategic growth execution.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | true |
| Anti-hedging | — |
| Anti-pledging | — |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| James Johnston | PSU | 2025-03-14 | 6,979 | 13,958 | — | 27,916 | $680,173 |
| William Mault | PSU | 2025-03-14 | 7,189 | 14,377 | — | 28,754 | 700,591 |
| J. Heath Deneke | PSU | 2025-03-14 | 23,812 | 47,624 | — | 95,248 | 2,320,718 |
| J. Heath Deneke | RSU | 2025-03-14 | — | — | 47,624 | — | 1,783,043 |
| William Mault | RSU | 2025-03-14 | — | — | 14,377 | — | 538,275 |
| James Johnston | RSU | 2025-03-14 | — | — | 13,958 | — | 522,588 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| James Johnston | $522,588 | $680,173 | $0 | 56.6% |
| William Mault | 538,275 | 700,591 | 0 | 56.6% |
| J. Heath Deneke | 1,783,043 | 2,320,718 | 0 | 56.6% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| James Johnston | PSU | 6,979 | — | $186,200 |
| William Mault | PSU | 7,189 | — | 191,789 |
| William Mault | PSU | 8,542 | — | 227,901 |
| James Johnston | PSU | 9,793 | — | 261,277 |
| James Johnston | PSU | 13,958 | — | 372,399 |
| William Mault | PSU | 14,377 | — | 383,578 |
| William Mault | PSU | 14,401 | — | 384,217 |
| James Johnston | PSU | 16,541 | — | 441,312 |
| William Mault | PSU | 20,242 | — | 540,057 |
| James Johnston | PSU | 21,588 | — | 575,968 |
| J. Heath Deneke | PSU | 23,812 | — | 635,304 |
| J. Heath Deneke | PSU | 30,015 | — | 800,800 |
| William Mault | PSU | 40,486 | — | 1,080,166 |
| James Johnston | PSU | 43,178 | — | 1,151,989 |
| J. Heath Deneke | PSU | 47,624 | — | 1,270,608 |
| J. Heath Deneke | PSU | 50,596 | — | 1,349,909 |
| J. Heath Deneke | PSU | 65,508 | — | 1,747,753 |
| J. Heath Deneke | PSU | 131,018 | — | 3,495,560 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| James J. ClearyIndependent · Compensation Committee · Nominating, Governance and Sustainability Committee (Chair) | $120,000 | $114,641 | — | — | — | $234,641 |
| Jerry L. PetersIndependent · Audit Committee (Chair) · Nominating, Governance and Sustainability Committee | 120,000 | 114,641 | — | — | — | 234,641 |
| Marguerite Woung-ChapmanIndependent | 115,000 | 114,641 | — | — | — | 229,641 |
| Lee JacobeIndependent · Audit Committee · Compensation Committee (Chair) · Finance and Corporate Strategy Committee | 115,000 | 114,641 | — | — | — | 229,641 |
| Robert J. McNallyIndependent · Audit Committee · Finance and Corporate Strategy Committee (Chair) | 107,000 | 114,641 | — | — | — | 221,641 |
| Rommel M. OatesIndependent · Nominating, Governance and Sustainability Committee · Finance and Corporate Strategy Committee | 100,000 | 114,641 | — | — | — | 214,641 |
| J. Heath DenekeEmployee director · Board Chair | 0 | 0 | — | — | — | 0 |
Board fee structure and ownership guideline
| Annual cash retainer | $100,000 |
|---|---|
| Annual equity retainer | $115,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 15,000 / 15,000 |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $677,000 |
| Equity awards (grant-date value) | $687,846 |
| All other compensation | $0 |
| Total cost of the board | $1,364,846 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Summit Midstream as a peer
Companies that benchmark against SMC
1 company names SMC as a compensation peer
- DT Midstream, Inc.DTMFY2025
Each company listed discloses SMC 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 SMC in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
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.
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.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Aris Water Solutions, Inc. | 2024 | Amanda Brock | $732,308 | $6,432,567 | $0 | $2,047,576 | $9,233,151 |
| 2 | Archrock, Inc. | 2025 | D. Bradley Childers | 944,231 | 6,037,304 | — | 1,985,363 | 9,037,610 |
| 3 | Kodiak Gas Services, Inc. | 2025 | Robert McKee | 750,000 | 4,489,726 | 0 | 1,070,424 | 6,568,143 |
| 4 | Kinetik Holdings Inc. | 2025 | Jamie Welch | 276,923 | 5,140,841 | 0 | 487,500 | 6,156,243 |
| 5 | Summit Midstream Corp | 2025 | J. Heath Deneke | 766,962 | 4,103,760 | 0 | 1,047,162 | 5,970,824 |
| 6 | Oil States International, Inc. | 2025 | Cindy Taylor | 925,000 | 2,400,003 | 0 | 1,654,244 | 5,079,386 |
| 7 | Select Water Solutions, Inc. | 2025 | John Schmitz | 800,000 | 3,245,526 | 0 | 681,352 | 4,876,029 |
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.
Incentive design against the same peers
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Summit Midstream Corp | not disclosed | not disclosed | not disclosed | not disclosed |
| Archrock, Inc. | not disclosed | RSU 50 · PRSU 50 | not disclosed | Pearl Meyer |
| Aris Water Solutions, Inc. | not disclosed | not disclosed | not disclosed | Compensation Advisory Partners, LLC and Pay Governance, LLC |
| Kinetik Holdings Inc. | 65% | PSU 50 · RSU 50 | Yes — Annualized TSR | Meridian Compensation Partners |
| Kodiak Gas Services, Inc. | not disclosed | PSU 44 · RSU 29 | not disclosed | not disclosed |
| Oil States International, Inc. | not disclosed | RSU 50 · PRSU 25 · Cash Performance Award 25 | not disclosed | Meridian Compensation Partners |
| Select Water Solutions, Inc. | 88.1% | RSU 50 · PSU 50 | Yes — Relative Total Shareholder Return (TSR) | Meridian Compensation Partners |
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.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-07 | 11,996,010 | 2,156,973 | 5,897 | 84.76% | Passed |
| 2025 | 2025-05-08 | 11,753,302 | 1,823,609 | 64,883 | 86.57% | 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 year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2026 | 2026-05-07 | 84.76%a |
| 2025 | 2025-05-08 | 86.57%b |
a. Voting standard not stated in the filing.
b. 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.
CEO pay ratio
| Ratio (CEO : median employee) | 43.8 : 1 |
|---|---|
| CEO total compensation | $5,970,824 |
| Median employee compensation | $136,312 |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (29 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, J. Heath Deneke. DEF 14A, filed 2026-04-10. Section “EXECUTIVE COMPENSATION TABLES” · page 47. As printed: 5,970,824. View filing ↗
- Section 01, James Johnston. DEF 14A, filed 2026-04-10. Section “EXECUTIVE COMPENSATION TABLES” · page 47. As printed: 2,173,568. View filing ↗
- Section 01, William Mault. DEF 14A, filed 2026-04-10. Section “EXECUTIVE COMPENSATION TABLES” · page 47. As printed: 2,114,599. View filing ↗
- Section 03, James Johnston PSU. DEF 14A, filed 2026-04-10. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, William Mault PSU. DEF 14A, filed 2026-04-10. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, J. Heath Deneke PSU. DEF 14A, filed 2026-04-10. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, J. Heath Deneke RSU. DEF 14A, filed 2026-04-10. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, William Mault RSU. DEF 14A, filed 2026-04-10. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, James Johnston RSU. DEF 14A, filed 2026-04-10. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-04-10. Section “CEO Pay Ratio”. As printed: 43.8 : 1. View filing ↗
- Section 08, James J. Cleary. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 234,641. View filing ↗
- Section 08, Jerry L. Peters. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 234,641. View filing ↗
- Section 08, Marguerite Woung-Chapman. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 229,641. View filing ↗
- Section 08, Lee Jacobe. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 229,641. View filing ↗
- Section 08, Robert J. McNally. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 221,641. View filing ↗
- Section 08, Rommel M. Oates. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 214,641. View filing ↗
- Section 08, J. Heath Deneke. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-05-12. Item 5.07 · say-on-pay result. As reported: 84.76% (votes for as printed: 11,996,010). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-05-09. Item 5.07 · say-on-pay result. As reported: 86.57% (votes for as printed: 11,753,302). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
- Section 09b board cost (computed). Computed. Cash 677,000 + equity 687,846 + all other 0 = 1,364,846, summed across the director compensation table rows.
- Aris Water Solutions, Inc., Section 10b CEO total. DEF 14A, filed 2025-04-09. CEO total compensation as printed in Aris Water Solutions, Inc.'s own proxy. As printed: 9,233,151. View filing ↗
- Archrock, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-17. CEO total compensation as printed in Archrock, Inc.'s own proxy. As printed: 9,037,610. View filing ↗
- Kodiak Gas Services, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-27. CEO total compensation as printed in Kodiak Gas Services, Inc.'s own proxy. As printed: 6,568,143. View filing ↗
- Kinetik Holdings Inc., Section 10b CEO total. DEF 14A, filed 2026-04-08. CEO total compensation as printed in Kinetik Holdings Inc.'s own proxy. As printed: 6,156,243. View filing ↗
- Summit Midstream Corp (subject), Section 10b CEO total. DEF 14A, filed 2026-04-10. CEO total compensation as printed in Summit Midstream Corp's own proxy. As printed: 5,970,824. View filing ↗
- Oil States International, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-27. CEO total compensation as printed in Oil States International, Inc.'s own proxy. As printed: 5,079,386. View filing ↗
- Select Water Solutions, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-24. CEO total compensation as printed in Select Water Solutions, Inc.'s own proxy. As printed: 4,876,029. View filing ↗