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CNX Resources Executive Compensation (FY25)

CNX · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Alan Shepard
Latest say-on-pay support
=
May 7, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of November 5, 2026Latest filing (8-K): May 11, 2026
14 filings cited on this page
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338 figures on this page: 327 cited to the filing that reported them, 11 calculated from figures it prints. See the citations

More on CNX Resources

Five data products on this company. Each one is requested through the developer setup page.
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Alan Shepard: $3,342,779 → $3,386,049 (1.3% higher)
Say-on-pay support: 97.8% → 97.7% (0.1 points lower)
CEO pay ratio: 38:1 → 42:1 (10.5% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is CNX Resources' chief executive and what were they paid?
Alan Shepard, President and Chief Executive Officer; Former Chief Financial Officer, received $3,386,049 in total compensation for fiscal 2025. Shepard's total moved 1.3% higher from the $3,342,779 reported for fiscal 2024.
What was CNX Resources' say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 97.7% of votes cast for or against in favor at the meeting held May 7, 2026.
Which companies are in CNX Resources' peer group?
Companies named in the disclosed peer group include Antero Resources Corporation, EQT Corporation, Gulfport Energy Corporation and Range Resources Corporation.
What is CNX Resources' chief executive pay ratio?
The company reported a chief executive pay ratio of 42:1 for fiscal 2025, against median employee compensation of $174,876.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Nicholas DeIuliis
President and Chief Executive Officer
◇—◇—◇—◇◇
Donald Rush
Former Chief Financial Officer
Departed during or after this year
◇—◇—◇—◇◇
Chad Griffith
Former Chief Operating Officer
Departed during or after this year
◇—◇———◇◇
Olayemi Akinkugbe
Chief Excellence Officer
◇—◇—◇—◇◇
Alexander Reyes
Executive Vice President, General Counsel, and Corporate Secretary
◇—◇—◇—◇◇
Alan Shepard
Chief Financial Officer
◇—◇—◇—◇◇
Ravi Srivastava
President - New Technologies
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Nicholas DeIuliis
President and Chief Executive Officer
◇◇◇——◇◇◇
Navneet Behl
Chief Operating Officer
◇◇◇———◇◇
Alan Shepard
Chief Financial Officer
◇◇◇———◇◇
Ravi Srivastava
President – New Technologies
◇◇◇———◇◇
Olayemi Akinkugbe
Chief Excellence Officer
◇—◇———◇◇
Alexander Reyes
Executive Vice President, General Counsel, and Corporate Secretary
◇—◇——◇◇◇
Hayley Scott
Chief Risk Officer
◇◇◇———◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Nicholas DeIuliis
Former President and Chief Executive Officer
◇—◇—◇—◇◇
Navneet Behl
Chief Operating Officer
◇—◇—◇—◇◇
Alan Shepard
President and Chief Executive Officer; Former Chief Financial Officer
◇—◇—◇—◇◇
Timothy Bedard
Executive Vice President, General Counsel and Corporate Secretary
◇—◇—◇—◇◇
Hayley Scott
Senior Vice President - Compliance and Reporting
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Timothy Bedard
Executive Vice President, General Counsel and Corporate Secretary
◇—◇—◇—◇◇
Nicholas DeIuliis
Former President and Chief Executive Officer
Departed during or after this year
◇—◇—◇◇◇◇
Hayley Scott
Senior Vice President - Compliance and Reporting
◇—◇—◇—◇◇
Navneet Behl
Chief Operating Officer
◇—◇—◇—◇◇
Alan Shepard
President and Chief Executive Officer; Former Chief Financial Officer
◇—◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Alan K. ShepardRSU◇——◇——◇
Alan K. ShepardPSU◇◇◇—◇—◇
Alan K. ShepardPSU◇—◇———◇
Hayley F. ScottPSU◇◇◇—◇—◇
Hayley F. ScottRSU◇——◇——◇
Hayley F. ScottPSU◇—◇———◇
Hayley F. ScottPSU◇—◇———◇
Navneet BehlRSU◇——◇——◇
Navneet BehlPSU◇—◇———◇
Navneet BehlPSU◇◇◇—◇—◇
Nicholas J. DeIuliisRSU◇——◇——◇
Nicholas J. DeIuliisPSU◇◇◇—◇—◇
Nicholas J. DeIuliisPSU◇—◇———◇
Timothy S. BedardPSU◇◇◇—◇—◇
Timothy S. BedardPSU◇—◇———◇
Timothy S. BedardRSU◇——◇——◇
Timothy S. BedardPSU◇—◇———◇
Fiscal 2022 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Navneet BehlPSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Alan ShepardPSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Hayley ScottPSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Timothy BedardPSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Nicholas DeIuliisPSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Ian McGuire
Board chair
◇◇————◇
Bernard Lanigan Jr
◇◇————◇
Robert O. Agbede
◇◇————◇
J. Palmer Clarkson
◇◇————◇
Maureen E. Lally-Green
◇◇————◇
William N. Thorndike Jr
◇—————◇
Alan K. Shepard and Nicholas J. DeIuliis served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇
Equity is delivered as restricted stock units.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Antero Resources Corporation AR
  • EQT Corporation EQT
  • Gulfport Energy Corporation GPOR
  • Range Resources Corporation RRC
TSR Peer Group
  • Expand Energy Corporation EXE

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 7, 2026=◇◇◇
2024May 1, 2025=◇◇◇
2023May 2, 2024=◇◇◇
2022May 4, 2023=◇◇◇
2021May 5, 2022=◇◇◇
2020May 6, 2021=◇◇◇
2019May 6, 2020=◇◇◇
2018May 29, 2019=◇◇◇
2017May 9, 2018=◇◇◇
2016May 9, 2017=◇◇◇
2015May 11, 2016=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact CNX Resources disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where CNX Resources sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $500
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
338 figures on this page: 327 cited to the filing that reported them, 11 calculated from figures it prints.
327 cited to the filing
11 calculated from the filing

Documents cited

  1. 0001070412-26-000052
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001308179-26-000153
    2025 CEO Pay Ratio Information · Director Compensation Table – 2025 · Grants of Plan-Based Awards — 2025 · Outstanding Equity Awards at Fiscal Year-End — 2025 · and 1 more section
  3. 0001070412-25-000061
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001070412-24-000029
    Item 5.07 Submission of Matters to a Vote of Security Holders
  5. 0001308179-24-000225
    Summary Compensation Table — 2023, 2022, and 2021
  6. 0001070412-23-000079
    Item 5.07 Submission of Matters to a Vote of Security Holders
  7. 0001308179-23-000327
    Summary Compensation Table — 2022, 2021, and 2020
  8. 0001070412-22-000029
    Item 5.07 Submission of Matters to a Vote of Security Holders
  9. 0001070412-21-000041
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0001308179-20-000245
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0001070412-19-000044
    Item 5.07 Submission of Matters to a Vote of Security Holders
  12. 0001193125-18-164113
    Item 5.07 Submission of Matters to a Vote of Security Holders
  13. 0001070412-17-000036
    Item 5.07 Submission of Matters to a Vote of Security Holders
  14. 0001070412-16-000150
    Item 5.07 Submission of Matters to a Vote of Security Holders.
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “CNX Resources executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/CNX (accessed 2026).
Short form: data: Velarion

The paid brief for CNX Resources

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
$500 for the Executive Compensation Report. Both reports for $900.
Get the executive briefGet the board briefNo account needed.
14 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Energy rankings

Chief executive pay — EnergyCEO pay ratio — EnergySay-on-pay support — Energy

Peers CNX Resources discloses

The companies named in CNX's own disclosed peer group.

Antero Resources CorporationEQT CorporationGulfport Energy CorporationRange Resources CorporationExpand Energy Corporation

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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