How Massaro was paid
$8.8M 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.
Named executive officers
| Executive | Salary | Stock | Incentive | Other | Total |
|---|---|---|---|---|---|
| Michael MassaroChief Executive Officer | $450,000 | $7,732,055 | $610,000 | $11,440 | $8,803,495 |
| Robert OrgelPresident and Chief Operating Officer | $350,000 | $4,494,258 | $366,000 | $7,188 | $5,217,446 |
| Cosmin PitigoiChief Financial Officer | $410,000 | $3,382,773 | $366,000 | $3,937 | $4,162,710 |
| Peter ButterfieldGeneral Counsel and Chief Compliance Officer | $310,000 | $1,739,705 | $244,000 | $10,674 | $2,304,379 |
| David KingChief Product Officer & Co-President of Global Education | $310,000 | $3,189,469 | $244,000 | $3,312 | $3,746,781 |
What changed and why
- $8.8MChief executive officer total compensation decreased to $8,803,495 in fiscal 2025.
- Stock awards comprised the vast majority of executive compensation packages.
- Cash incentive bonuses were paid under the 2025 cash incentive bonus program in March 2026.
- Amended and restated employment agreements were entered into with all named executive officers in August 2025.
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.