How Moghadam was paid
$25M 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 | Other | Total |
|---|---|---|---|---|---|
| Hamid MoghadamExecutive Chairman | $1 | $1,617,500 | $23,369,872 | $12,500 | $24,999,873 |
| Timothy ArndtChief Financial Officer | $697,692 | $1,347,500 | $7,227,244 | $28,000 | $9,300,436 |
| Daniel LetterChief Executive Officer (President in 2025) | $795,385 | $1,870,000 | $12,500,990 | $24,250 | $15,190,625 |
| Carter AndrusChief Operating Officer | $600,000 | $1,031,250 | $5,045,775 | $24,250 | $6,701,275 |
| Deborah BrionesChief Legal Officer and General Counsel | $495,385 | $756,250 | $3,674,858 | $28,000 | $4,954,493 |
| Joseph GhazalFormer Chief Investment Officer | $600,000 | $750,000 | $5,045,775 | $32,476 | $6,428,251 |
What changed and why
- $25MCEO Hamid Moghadam received total compensation of $24,999,873 for 2025, compared to $24,851,777 in the prior year.
- $1,Mr. Moghadam's base salary was maintained at $1, with the balance shifted to performance-contingent equity.
- 91%Stockholders demonstrated strong support by approving the 2025 say-on-pay proposal with 91% of votes cast in favor.
- Our employee population comprised 2,802 individuals globally as of December 31, 2025.
- The CEO-to-median employee pay ratio for fiscal year 2025 was calculated to be 177 to 1.
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.