How Williams was paid
$12.7M 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 | Options | Incentive | Pension | Other | Total |
|---|---|---|---|---|---|---|---|
| Clay C. WilliamsFormer Chairman & Chief Executive Officer | $1,000,000 | $9,576,940 | $899,208 | $1,129,492 | $90,047 | $17,500 | $12,713,187 |
| Jose A. BayardoChairman, President & Chief Executive Officer | $824,315 | $4,327,290 | $279,752 | $694,123 | — | $41,058 | $6,166,538 |
| Rodney C. ReedSenior Vice President & Chief Financial Officer | $533,156 | $1,752,802 | $44,963 | $425,663 | — | $26,400 | $2,782,984 |
| Joseph W. RovigPresident – Energy Equipment | $600,000 | $2,021,797 | $189,831 | $694,271 | — | $30,000 | $3,535,900 |
| Craig L. WeinstockSenior Vice President, Secretary, and General Counsel | $565,000 | $1,808,977 | $169,849 | $417,260 | — | $26,294 | $2,987,381 |
| Scott B. LivingstonPresident – Energy Products and Services | $550,000 | $1,596,157 | $149,867 | $292,497 | — | $27,500 | $2,616,021 |
What changed and why
- $12.7MFormer CEO Clay C. Williams received total compensation of $12,713,187 in 2025, compared to $11,974,375 in 2024.
- Jose A. Bayardo was appointed Chairman and CEO effective January 1, 2026, succeeding Clay C. Williams.
- 97%Stockholders approved the 2024 say-on-pay proposal with more than 97% of votes cast in favor.
- Performance share awards are tied to Total Shareholder Return and internal Net Value Added metrics.
- 7%Adjusted EBITDA decreased 7% from 2024, resulting in annual incentive plan payouts below target.
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.