How Neugebauer was paid
$48M 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 | Bonus | Stock | Total |
|---|---|---|---|---|
| Toby NeugebauerChief Executive Officer | $125,000 | — | $47,855,000 | $47,980,000 |
| Miles EversonChief Financial Officer and Secretary | $125,000 | $1,750,000 | $132,300,000 | $134,175,000 |
| Jacobo OrtizChief Operating Officer | $125,000 | $1,750,000 | $132,300,000 | $134,175,000 |
| Charlie HamiltonChief Site Development Officer | $125,000 | $1,750,000 | $132,300,000 | $134,175,000 |
What changed and why
- $47.98M$47.98 million was CEO Toby Neugebauer’s total 2025 compensation, including $47.855 million in stock awards.
- $134.175M$134.175 million was the total compensation reported for each non-CEO named executive officer.
- $1.75M$1.75 million discretionary cash bonuses were paid to each non-CEO NEO for consulting services before the IPO.
- $500K$500,000 was the annual base salary established for the CEO and non-CEO NEOs after the IPO.
- 200%200% of annual base salary was the 2025 target bonus opportunity for each non-CEO NEO.
- April 17, 2026 was the effective date of Neugebauer’s removal as CEO after the fiscal year ended.
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.