0001749723 2022-01-01 2022-12-31 0001749723 2021-01-01 2021-12-31 0001749723 2020-01-01 2020-12-31 0001749723 nfe:EquityAwardsGrantedDuringTheYearAverageGrantDateFairValueMember ecd:NonPeoNeoMember 2022-01-01 2022-12-31 0001749723 nfe:EquityAwardsGrantedDuringTheYearAverageYearEndFairValueMember ecd:NonPeoNeoMember 2022-01-01 2022-12-31 0001749723 nfe:EquityAwardsGrantedInPriorYearsUnvestedMember ecd:NonPeoNeoMember 2022-01-01 2022-12-31 0001749723 nfe:EquityAwardsGrantedInPriorYearsVestedMember ecd:NonPeoNeoMember 2022-01-01 2022-12-31 0001749723 nfe:EquityAwardsGrantedDuringTheYearAverageGrantDateFairValueMember ecd:NonPeoNeoMember 2021-01-01 2021-12-31 0001749723 nfe:EquityAwardsGrantedDuringTheYearAverageYearEndFairValueMember ecd:NonPeoNeoMember 2021-01-01 2021-12-31 0001749723 nfe:EquityAwardsGrantedInPriorYearsUnvestedMember ecd:NonPeoNeoMember 2021-01-01 2021-12-31 0001749723 nfe:EquityAwardsGrantedInPriorYearsVestedMember ecd:NonPeoNeoMember 2021-01-01 2021-12-31 0001749723 nfe:EquityAwardsGrantedDuringTheYearAverageGrantDateFairValueMember ecd:NonPeoNeoMember 2020-01-01 2020-12-31 0001749723 nfe:EquityAwardsGrantedDuringTheYearAverageYearEndFairValueMember ecd:NonPeoNeoMember 2020-01-01 2020-12-31 0001749723 nfe:EquityAwardsGrantedInPriorYearsUnvestedMember ecd:NonPeoNeoMember 2020-01-01 2020-12-31 0001749723 nfe:EquityAwardsGrantedInPriorYearsVestedMember ecd:NonPeoNeoMember 2020-01-01 2020-12-31 0001749723 1 2022-01-01 2022-12-31 0001749723 2 2022-01-01 2022-12-31 iso4217:USD 0001749723 DEFR14A false New Fortress Energy Inc. <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:3.761%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.455%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.761%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.761%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.316%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.788%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.927%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.788%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.927%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.205%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.211%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="30" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Pay Versus Performance Table</td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" rowspan="2" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:-1.31pt;text-align:center">Summary Compensation Table Total for PEO(1)</div></td><td colspan="3" rowspan="2" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">Compensation Actually Paid to PEO</td><td colspan="3" rowspan="2" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:-1.31pt;text-align:center">Average Summary Compensation Table </div><div style="padding-right:-1.31pt;text-align:center">Total for Non-PEO Named Executive Officers(1)</div></td><td colspan="3" rowspan="2" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:4pt;text-align:center">Average Compensation Actually Paid to Non-PEO Named Executive Officers(2)(3)</div></td><td colspan="12" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">Value of initial fixed $100 investment based on:</td><td colspan="3" rowspan="2" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:4pt;text-align:center">Net Income (Loss)</div><div style="margin-top:4pt;text-align:center">(In thousands)</div></td><td colspan="3" rowspan="2" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:4pt;text-align:center">Adjusted EBITDA (In thousands)(5)</div></td></tr><tr style="height:57pt"><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Year</td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:4pt;text-align:center">Total Shareholder Return</div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:4pt;text-align:center">Peer Group Total Shareholder Return (ICLN)(4)</div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Peer Group Total Shareholder Return (VDE)(4)</div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Peer Group Total Shareholder Return (XLE)(4)</div></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle">(a)</td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle">(b)</td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle">(c)</td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle">(d)</td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle">(e)</td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle">(f)</td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle">(g)</td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle">(g)</td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle">(g)</td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle">(h)</td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle">(i)</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">2022</td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:top">— </td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:top">— </td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:top">4,087,514 </td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:top">3,402,381 </td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:top">278.22 </td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:top">173.41 </td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:top">170.29 </td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:top">169.86 </td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:top">184,786 </td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:top">1,071,309 </td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2,260,943 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,502,760 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">156.82 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">183.33 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">104.56 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">103.47 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">92,711 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">604,560 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,736,742 </td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,801,911 </td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">344.01 </td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">241.80 </td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">66.94 </td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">67.49 </td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(263,965)</td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:top">33,322 </td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/></tr></table> 0 0 4087514 3402381 278.22 173.41 170.29 169.86

184786000

1071309000 0 0 2260943 3502760 156.82 183.33 104.56 103.47

92711000

604560000 0 0 1736742 3801911 344.01 241.80 66.94 67.49

-263965000

33322000 For all three years shown in the table, our principal executive officer (“PEO”) was Mr. Edens, and our non-PEO named executive officers were Mr. Guinta and Ms. Shin. Mr. Edens The amounts in the following table represent each of the average amounts deducted and added to the equity award values for our non-PEO named executive officers for the applicable year for purposes of computing the average “compensation actually paid” for our non-PEO named executive officers for each year:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:3.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.344%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.038%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.705%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.538%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.566%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.209%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Year</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Average Summary Compensation Table Total for Non-PEO Named Executive Officers</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Minus Average Grant Date Fair Value of Equity Awards Granted During Applicable Year</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Plus Average Year-End Fair Value of Equity Awards Granted During Applicable Year</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Plus Average Change in Fair Value as of Year-End of Any Prior Year Awards that Remain Unvested as of Year-End</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Plus Average Change in Fair Value as of the Vesting Date of Any Prior Year Awards that Vested During Applicable Year</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Equals Average Compensation Actually Paid to Non-PEO Named Executive Officer</td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2022</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">4,087,514 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">(2,562,514)</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">1,795,978 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">81,403 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">3,402,381 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,260,943 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(860,943)</td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,102,760 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,502,760 </td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,736,742 </td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(661,742)</td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,785,262 </td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(58,351)</td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,801,911 </td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table> 4087514 -2562514 0 1795978 81403 3402381 2260943 -860943 0 2102760 0 3502760 1736742 -661742 0 2785262 -58351 3801911 PSU grant date fair values are calculated using stock price as of the grant date and assuming target performance, notwithstanding that, as of December 31 of each year covered in the Pay Versus Performance Table, the Company has generally determined that it was not probable that the performance condition required for the PSUs granted in such year to vest would be achieved, and as such, no compensation expense was recognized by the Company for such awards in the applicable year of grant, which is why the amounts in the “Plus Average Year-End Fair Value of Equity Awards Granted During Applicable Year” column of the table included in footnote 2 above are shown at zero. Adjustments have been made using the stock price and performance accrual modifier as of year-end and as of the vesting date, as applicable. RSU grant date fair values are calculated using stock price as of the grant date, as adjusted for a post-vesting holding period. Adjustment have been made using the stock price as of year-end and as of each vesting date.Adjusted EBITDA is calculated as net income, plus transaction and integration costs, contract termination charges and loss on mitigation sales, depreciation and amortization, asset impairment expense, interest expense, net, other (income) expense, net, loss on extinguishment of debt, changes in fair value of non-hedge derivative instruments and contingent consideration, tax expense, and adjusting for certain items from our selling, general and administrative expenses (“SG&A") not otherwise indicative of ongoing operating performance, including non-cash share-based compensation and severance expense, non-capitalizable development expenses, cost to pursue new business opportunities and expenses associated with changes to our corporate structure, plus our pro rata share of Adjusted EBITDA from unconsolidated entities, less the impact of equity in earnings (losses) of unconsolidated entities. Adjusted EBITDA is mathematically equivalent to our Total Segment Operating Margin, as reported in the segment disclosures within our financial statements, minus Core SG&A, including our pro rata share of such expenses of unconsolidated entities. Core SG&A is defined as total SG&A adjusted for non-cash share-based compensation and severance expense, non-capitalizable development expenses, cost of exploring new business opportunities and expenses associated with changes to our corporate structure. Core SG&A excludes certain items from our SG&A not otherwise indicative of ongoing operating performance. The iShare Global Clean Energy ETF Index ("ICLN"), Vanguard Energy ETF ("VDE") and Energy Select Sector (SPDR) Fund ("XLE"), as reported in the Company's Annual Report in Form 10-K filed with the SEC on March 1, 2023, were used to calculate the Company's peer group total shareholder return. <div>We calculate Adjusted EBITDA for the applicable year as net income, plus transaction and integration costs, contract termination charges and loss on mitigation sales, depreciation and amortization, asset impairment expense, interest expense, net, other (income) expense, net, loss on extinguishment of debt, changes in fair value of non-hedge derivative instruments and contingent consideration, tax expense, and adjusting for certain items from our SG&A not otherwise indicative of ongoing operating performance, including non-cash share-based compensation and severance expense, non-capitalizable development expenses, cost to pursue new business opportunities and expenses associated with changes to our corporate structure, plus our pro rata share of Adjusted EBITDA from unconsolidated entities, less the impact of equity in earnings (losses) of unconsolidated entities.</div><div> </div><div>Adjusted EBITDA is mathematically equivalent to our Total Segment Operating Margin, as reported in the segment disclosures within our financial statements, minus Core SG&A, including our pro rata share of such expenses of unconsolidated entities. Core SG&A is defined as total SG&A adjusted for non-cash share-based compensation and severance expense, non-capitalizable development expenses, cost of exploring new business opportunities and expenses associated with changes to our corporate structure. Core SG&A excludes certain items from our SG&A not otherwise indicative of ongoing operating performance.</div> Adjusted EBITDA <div style="text-indent:36pt">The graph below sets out the relationship between (x) the average “Compensation Actually Paid” to our non-PEO named executive officers and (y) the Company’s Adjusted EBITDA and net income (loss):</div><div style="text-align:center"><img alt="nfe-20230405_g2.jpg" src="nfe-20230405_g2.jpg" style="height:400px;margin-bottom:5pt;vertical-align:text-bottom;width:549px"/></div> <div style="text-indent:36pt">The graph below sets out the relationship between (x) the average “Compensation Actually Paid” to our non-PEO named executive officers and (y) the Company’s Adjusted EBITDA and net income (loss):</div><div style="text-align:center"><img alt="nfe-20230405_g2.jpg" src="nfe-20230405_g2.jpg" style="height:400px;margin-bottom:5pt;vertical-align:text-bottom;width:549px"/></div> <div style="text-indent:36pt">The graph below sets out the relationship between (x) the Company’s TSR and (y) the peer group TSR, calculated using each of iShared Global Clean Energy ETF Index ("ICLN"), Vanguard Energy ETF ("VDE") and Energy Select Sector (SPDR) Fund ("XLE"):</div><div style="text-align:center;text-indent:36pt"><img alt="nfe-20230405_g3.jpg" src="nfe-20230405_g3.jpg" style="height:412px;margin-bottom:5pt;vertical-align:text-bottom;width:539px"/></div> <div style="text-indent:36pt">The graph below sets out the relationship between (x) the Company’s TSR and (y) the peer group TSR, calculated using each of iShared Global Clean Energy ETF Index ("ICLN"), Vanguard Energy ETF ("VDE") and Energy Select Sector (SPDR) Fund ("XLE"):</div><div style="text-align:center;text-indent:36pt"><img alt="nfe-20230405_g3.jpg" src="nfe-20230405_g3.jpg" style="height:412px;margin-bottom:5pt;vertical-align:text-bottom;width:539px"/></div> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:48.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:48.900%"/><td style="width:0.1%"/></tr><tr><td colspan="6" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">Most Important Performance Measures</td></tr><tr><td colspan="6" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Adjusted EBITDA(1)</div></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Net Income</td></tr></table> Adjusted EBITDA(1) Net Income