How Gaspar was paid
$12.6M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.
Named executive officers
| Executive | Salary | Stock | Incentive | Pension | Other | Total |
|---|---|---|---|---|---|---|
| Clay M. GasparPresident and Chief Executive Officer | $938,125 | $9,633,689 | $1,612,000 | — | $382,570 | $12,566,384 |
| Jeffrey L. RitenourExecutive Vice President and Chief Financial Officer | $731,446 | $4,575,989 | $821,200 | $11,829 | $270,781 | $6,411,245 |
| Dennis C. CameronExecutive Vice President and General Counsel | $655,646 | $3,130,998 | $656,100 | — | $235,798 | $4,678,542 |
| Tana K. CashionExecutive Vice President Human Resources and Administration | $479,846 | $2,047,203 | $478,100 | — | $51,432 | $3,248,224 |
| John D. RainesSenior Vice President E&P Asset Management | $465,984 | $1,806,348 | $441,800 | — | $128,179 | $2,843,117 |
| Richard E. MuncriefFormer President and Chief Executive Officer | $400,000 | $457,300 | — | — | — | $857,300 |
| David G. HarrisFormer Executive Vice President and Chief Corporate Development Officer | $111,567 | $5,296,296 | — | — | — | $5,407,863 |
What changed and why
- $12.6M$12.6 million was CEO pay in 2025, up from $7.0 million in 2024 after Gaspar became CEO in March.
- 124%124% of target was paid under the 2025 annual cash incentive program.
- 150%150% of target was the year-end trend for 2025 performance share unit payouts.
- $8.0M$8.0 million was Gaspar’s 2025 long-term incentive target, below the peer CEO median.
- $1.0B85% of the targeted $1.0 billion annual free cash flow improvements was achieved through 2025.
- $5.3M$5.3 million in severance was paid to former executive David Harris.
About this page
Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.