Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-03-26

XPLR Infrastructure, LP (XIFR)

CEO Alan Liu was paid $2,371,641 in fiscal year 2025 (SEC filing 0001104659-26-035232 ↗): 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.

$2,371,641
Alan Liu total, FY2025
—
CEO pay percentile vs peers
—
CEO-to-median pay ratio
90.82%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Alan Liu (President and Chief Executive Officer), FY2025 total compensation $2,371,641 (base salary $655,288) [exec_comp, SEC accession 0001104659-26-035232, filed 2026-03-26]

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XIFR's next annual pay disclosure, estimated March 26, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Alan Liu$655,288$0$1,099,986$0$550,000$10,173$56,194$2,371,641
President and Chief Executive Officer
Jessica Geoffroy331,9190119,9270374,0009,09814,136849,080
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 officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Alan Liu$2,371,641———
Jessica Geoffroy849,080———

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 XIFR
6 companies name XIFR as a compensation peer

Each company listed discloses XIFR 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 XIFR in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
John W. KetchumDirector—
Peter H. KindIndependent Director$255,031
Robert J. ByrneIndependent Director$255,031
Susan D. AustinIndependent Director$240,031
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
Jessica GeoffroyPSU2025-02-280837—837$58,732
Alan LiuPSU2025-02-1307,857—7,857538,990
Alan LiuPSU2025-02-18065,922—65,922560,996
Jessica GeoffroyPSU2025-02-1807,191—7,19161,195
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Jessica Geoffroy$0$119,927$0100.0%
Alan Liu01,099,9860100.0%

% 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
Alan LiuPSU9,276—$852,743
Jessica GeoffroyPSU3,152—253,043
Alan LiuRSU11,302—907,325
Alan LiuRSU65,922—659,220
Jessica GeoffroyRSU7,191—71,910
Jessica GeoffroyRSU837—67,194
Alan LiuPSU14,010—1,124,723
05

Incentive-plan design — the Compensation Discussion & Analysis

The compensation program for payment of compensation to Mr. Liu and Ms. Geoffroy emphasizes performance-based equity and alignment with unitholder interests.

CEO STI target (% of salary)55%
CEO LTI target (% of salary)—
Independent consultantnot disclosed
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20252025-04-22116,004,26311,720,686754,36090.82%Passed
20172017-12-21134,105,8449,616,09052,56893.31%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
20252025-04-2290.82%a
20172017-12-2193.31%b

a. Voting standard not stated in the filing.

b. Approved under the standard stated in the filing — “Abstentions are not considered votes cast and will have no legal effect on whether this proposal is approved.”.

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)—
CEO total compensation—
Median employee compensation—
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Robert J. ByrneIndependent · Audit (Chair) · Conflicts$105,000$150,031$0$0$0$255,031
Peter H. KindIndependent · Audit · Conflicts (Chair)105,000150,031000255,031
Susan D. AustinIndependent · Audit · Conflicts90,000150,031000240,031
John W. KetchumEmployee director000000
09

Board fee structure and ownership guideline

Annual cash retainer$90,000
Annual equity retainer$150,031
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)—
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$300,000
Equity awards (grant-date value)$450,093
All other compensation$0
Total cost of the board$750,093

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
1XPLR Infrastructure, LP2025Alan Liu$655,288$1,099,986$0$550,000$2,371,641

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 XPLR Infrastructure, LP in fiscal 2025?
As disclosed, Alan Liu (President and Chief Executive Officer) was the highest-paid executive at XPLR Infrastructure, LP in fiscal 2025, with total compensation of $2,371,641.
How did shareholders vote on XPLR Infrastructure, LP's executive compensation?
As disclosed, 90.82% of shareholders supported XPLR Infrastructure, LP's executive compensation in the latest say-on-pay vote.
How much does XPLR Infrastructure, LP spend in total on board compensation for fiscal 2025?
As disclosed, XPLR Infrastructure, LP reported total board compensation of $750,093 for fiscal 2025.

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, Alan LiuDEF 14A2026-03-260001104659-26-035232Section “TABLE 1A: 2025 SUMMARY COMPENSATION TABLE” · page 36. As printed: 2,371,641. Filing ↗machine: r2 · c64 · span 639787–639796
2Section 01, Jessica GeoffroyDEF 14A2026-03-260001104659-26-035232Section “TABLE 1A: 2025 SUMMARY COMPENSATION TABLE” · page 36. As printed: 849,080. Filing ↗machine: r3 · c64 · span 649628–649635
3Section 03, Jessica Geoffroy PSUDEF 14A2026-03-260001104659-26-035232Section “2025 grants of plan-based awards” · grants of plan-based awards table. Filing ↗machine: t23 · r7 · c38 · span 743774–743777
4Section 03, Alan Liu PSUDEF 14A2026-03-260001104659-26-035232Section “2025 grants of plan-based awards” · grants of plan-based awards table. Filing ↗machine: t23 · r4 · c38 · span 716553–716558
5Section 03, Alan Liu PSUDEF 14A2026-03-260001104659-26-035232Section “2025 grants of plan-based awards” · grants of plan-based awards table. Filing ↗machine: t23 · r5 · c38 · span 724632–724638
6Section 03, Jessica Geoffroy PSUDEF 14A2026-03-260001104659-26-035232Section “2025 grants of plan-based awards” · grants of plan-based awards table. Filing ↗machine: t23 · r8 · c38 · span 752899–752904
7Section 07, pay ratioDEF 14A2026-03-260001104659-26-035232Section “CEO Pay Ratio”. As printed: —. Filing ↗
8Section 08, Robert J. ByrneDEF 14A2026-03-260001104659-26-035232Section “Director Compensation”. As printed: 255,031. Filing ↗machine: t32 · r2 · c50 · span 1044002–1044010
9Section 08, Peter H. KindDEF 14A2026-03-260001104659-26-035232Section “Director Compensation”. As printed: 255,031. Filing ↗machine: t32 · r3 · c50 · span 1051043–1051050
10Section 08, Susan D. AustinDEF 14A2026-03-260001104659-26-035232Section “Director Compensation”. As printed: 240,031. Filing ↗machine: t32 · r1 · c50 · span 1036207–1036215
11Section 08, John W. KetchumDEF 14A2026-03-260001104659-26-035232Section “Director Compensation”. As printed: 0. Filing ↗
12Section 06, 2025 voteForm 8-K2025-04-240001603145-25-000021Item 5.07 · say-on-pay result. As reported: 90.82% (votes for as printed: 116,004,263). Filing ↗
13Section 06, 2017 voteForm 8-K2017-12-220001603145-17-000080Item 5.07 · say-on-pay result. As reported: 93.31%. Filing ↗
14Section 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).machine: formula: sums + PSU ratio
15Section 09b board cost (computed)Computed——Cash 300,000 + equity 450,093 + all other 0 = 750,093, summed across the director compensation table rows.machine: formula: Σ = 750,093
16XPLR Infrastructure, LP (subject), Section 10b CEO totalDEF 14A2026-03-260001104659-26-035232CEO total compensation as printed in XPLR Infrastructure, LP's own proxy. As printed: 2,371,641. Filing ↗machine: r2 · c64 · span 639787–639796

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