Fuelcell Energy (FCEL) executive compensation, 2026 proxy

Jason Few, President and Chief Executive Officer, was paid $2.8M in fiscal 2025, down 34% from $4.2M the year before. The CEO-to-median-employee pay ratio was 31:1, on median employee pay of $88,005.

Filed
February 18, 2026
Annual meeting
April 2, 2026
Pay year
fiscal 2025
Named executives
6
CEO total pay
$2.8M-34% vs prior year
CEO to median employee
31:1median $88,005
CEO pay in equity
52%$1.4M in awards
Prior say-on-pay support
55%of votes cast
CEO Stock Awards
$1,420,380Granted in fiscal 2025
CEO Non-Equity Incentive
$686,376Management Incentive Plan
Say-on-Pay Support
55%2025 Annual Meeting

How Few was paid

$2.8M in total for fiscal 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.

Salary21%Stock awards52%Non-equity incentive25%All other compensation2%

Named executive officers

ExecutiveTotal
Jason FewPresident and Chief Executive Officer$2,752,725
Michael S. BishopExecutive Vice President, Chief Financial Officer and Treasurer$1,339,199
Shankar AchantaExecutive Vice President, Chief Product and Technology Officer$970,359
Joshua DolgerFormer Executive Vice President, General Counsel and Corporate Secretary$946,685
Michael J. LisowskiFormer Executive Vice President, Strategic Partnerships$1,290,981
Mark FeaselFormer Executive Vice President and Chief Commercial Officer$1,025,018

What changed and why

  • $2.8MCEO total compensation decreased to $2,752,725 in fiscal year 2025 from $4,165,643 in fiscal year 2024.
  • $1.4MStock awards for the CEO were reduced to $1,420,380 compared to $3,020,681 in the prior fiscal year.
  • $88,005,The median employee's annual total compensation was $88,005, resulting in a CEO pay ratio of 31 to 1.
  • 55%Say-on-pay support improved to approximately 55% at the 2025 annual meeting from roughly 48% in 2024.
  • Performance stock units utilize relative total shareholder return as a core metric.

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.