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Matrix Service Executive Compensation (FY25)

MTRX · Tulsa, OK · Executive and director compensation, fiscal 2023 to 2025

The paid brief on Matrix Service

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
$1,500 for the Executive Compensation Report. Both reports for $2,400.
Data as of September 7, 2026Latest filing (8-K): November 4, 2025
13 filings cited on this page
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
Matrix Service brief$1,500Get the executive brief
274 figures on this page: 264 cited to the filing that reported them, 10 calculated from figures it prints. See the citations
Chief executive, fiscal 2025
◇
John Hewitt
Median of the other named officers
$1,106,129
6 officers, excluding the chief executive
Latest say-on-pay support
=
November 4, 2025
Chief executive pay ratio
◇
To the median employee

More on Matrix Service

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 — John Hewitt: $4,097,287 → $3,069,459 (25.1% lower)
CEO pay ratio: 39:1 → 28:1 (28.2% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Matrix Service's chief executive and what were they paid?
Total compensation for John Hewitt, Chief Executive Officer, came to $3,069,459 in fiscal 2025. Hewitt's total moved 25.1% lower from the $4,097,287 reported for fiscal 2024.
What was Matrix Service's say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 93.2% of votes cast including abstentions in favor at the meeting held November 4, 2025.
Which companies are in Matrix Service's peer group?
Companies named in the disclosed peer group include Archrock Inc., Arcosa Inc., Argan Inc., Babcock & Wilcox Enterprises Inc. and Concrete Pumping Holdings Inc., among others.
What is Matrix Service's chief executive pay ratio?
The company reported a chief executive pay ratio of 28:1 for fiscal 2025, against median employee compensation of $111,401.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
John Hewitt
Chief Executive Officer
◇—◇———◇◇
Alan Updyke
Chief Operating Officer
◇—◇———◇◇
Kevin Cavanah
Chief Financial Officer
◇—◇———◇◇
Bradley Rinehart
Former President Matrix Service Inc.
Departed during or after this year
◇—————◇◇
Shawn Payne
President Matrix Service Inc.
◇—◇———◇◇
Glyn Rodgers
President Matrix PDM Engineering
◇—◇———◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
John Hewitt
Chief Executive Officer
◇—◇———◇◇
Alan Updyke
Chief Operating Officer
◇—◇———◇◇
Kevin Cavanah
Chief Financial Officer
◇—◇———◇◇
Shawn Payne
President—Matrix Service Inc.
◇—◇———◇◇
Glyn Rodgers
President—Matrix PDM Engineering
◇—◇———◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
John Hewitt
Chief Executive Officer
◇—◇———◇◇
Alan Updyke
Former Chief Operating Officer
Departed during or after this year
◇—◇———◇◇
Glyn Rodgers
Former President Matrix PDM Engineering
Departed during or after this year
◇—◇———◇◇
Kevin Cavanah
Chief Financial Officer
◇—◇———◇◇
Shawn Payne
President Engineering & Construction
◇—◇———◇◇
Douglas Montalbano
President Matrix North American Construction
◇—◇———◇◇
Nancy Austin
Chief Administrative 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 R. UpdykePSU◇◇◇—◇—◇
Alan R. UpdykeRSU◇——◇——◇
Douglas J. MontalbanoPSU◇◇◇—◇—◇
Glyn A. RodgersPSU◇◇◇—◇—◇
Glyn A. RodgersRSU◇——◇——◇
John R. HewittPSU◇◇◇—◇—◇
Kevin S. CavanahPSU◇◇◇—◇—◇
Nancy E. AustinPSU◇◇◇—◇—◇
Shawn P. PaynePSU◇◇◇—◇—◇
Fiscal 2023, 2024 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
Shawn PayneRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
John HewittRSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Alan UpdykeRSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
Glyn RodgersRSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Kevin CavanahRSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Nancy AustinRSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Douglas MontalbanoRSU◇◇——
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.

Severance and change in control

The terms as written in the agreements.
Alan Updyke
Former Chief Operating Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Severance base◇
Benefits continuation◇
Douglas Montalbano
President Matrix North American Construction · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Severance base◇
Change-in-control multiple◇
Glyn Rodgers
Former President Matrix PDM Engineering · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Severance base◇
Benefits continuation◇
John Hewitt
Chief Executive Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Severance base◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Kevin Cavanah
Chief Financial Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Severance base◇
Change-in-control multiple◇
Nancy Austin
Chief Administrative Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Severance base◇
Change-in-control multiple◇
Shawn Payne
President Engineering & Construction · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Severance base◇
Change-in-control multiple◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
John D. Chandler
Board chair
◇◇————◇
Martha Z. Carnes
◇◇————◇
James H. Miller
◇◇——◇—◇
Carlin G. Conner
◇◇————◇
Liane K. Hinrichs
◇◇————◇
Jose L. Bustamante
◇◇——◇—◇
John R. Hewitt 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◇
Board chair premium◇
Audit committee chair◇
Compensation committee chair◇
Nominating and governance chair◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Archrock Inc. AROC
  • Arcosa Inc. ACA
  • Argan Inc. AGX
  • Babcock & Wilcox Enterprises Inc. BW
  • Concrete Pumping Holdings Inc. BBCP
  • Granite Construction Inc. GVA
  • Great Lakes Dredge and Dock Corporation GLDD
  • IES Holdings Inc. IESC
  • Limbach Holdings Inc. LMB
  • Mistras Group Inc. MG
  • MYR Group Inc. MYRG
  • Newpark Resources Inc. NR
  • Northwest Pipe Company symbol not shown
  • NV5 Global Inc. NVEE
  • Orion Group Holdings Inc. ONL
  • Sterling Infrastructure Inc. STRL

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025November 4, 2025=◇◇◇
2023November 5, 2024=◇◇◇
2022November 14, 2023=◇◇◇
2021December 5, 2022=◇◇◇
2020November 2, 2021=◇◇◇
2019November 3, 2020=◇◇◇
2018November 5, 2019=◇◇◇
2017October 30, 2018=◇◇◇
2016October 31, 2017=◇◇◇
2015November 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 Matrix Service disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Matrix Service 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 — $1,500
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 — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
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.
274 figures on this page: 264 cited to the filing that reported them, 10 calculated from figures it prints.
264 cited to the filing
10 calculated from the filing

Documents cited

  1. 0000866273-25-000081
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001140361-25-036001
    CEO Pay Ratio · Compensation Discussion and Analysis · Director Compensation · Fiscal 2025 Director Compensation · and 3 more sections
  3. 0000866273-24-000114
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001140361-24-041884
    Summary Compensation Table
  5. 0000866273-23-000083
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001140361-23-047147
    Summary Compensation Table
  7. 0000866273-22-000137
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0000866273-21-000111
    Item 5.07 Submission of Matters to a Vote of Security Holders
  9. 0000866273-20-000124
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0000866273-19-000119
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0000866273-18-000108
  12. 0000866273-17-000117
  13. 0000866273-16-000248
    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, “Matrix Service executive compensation, FY2023–FY2025.” https://intel.velarion.ai/comp/MTRX (accessed 2026).
Short form: data: Velarion

The paid brief for Matrix Service

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
$1,500 for the Executive Compensation Report. Both reports for $2,400.
Get the executive briefGet the board briefNo account needed.
13 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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Peers Matrix Service discloses

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

Arcosa Inc.Argan Inc.Babcock & Wilcox Enterprises Inc.Concrete Pumping Holdings Inc.Granite Construction Inc.IES Holdings Inc.Limbach Holdings Inc.Mistras Group Inc.MYR Group Inc.Orion Group Holdings Inc.Sterling Infrastructure Inc.

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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