How Kulkarni was paid
$636,222 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 | Other | Total |
|---|---|---|---|---|
| Dr. Subodh KulkarniPresident and Chief Executive Officer | $635,748 | — | $474 | $636,222 |
| David RivasChief Technology Officer | $374,928 | $1,582,000 | $474 | $1,957,402 |
| Jeffrey BertelsenChief Financial Officer | $326,025 | $1,582,000 | $474 | $1,908,499 |
What changed and why
- $636KDr. Subodh Kulkarni earned a total compensation of $636,222 for fiscal year 2025, decreasing from $2,261,211 in 2024.
- No non-equity incentive plan compensation was awarded to named executive officers for fiscal year 2025 because performance goals were not met.
- $1.6MDavid Rivas and Jeffrey Bertelsen each received stock awards valued at $1,582,000 in fiscal year 2025.
- Annual performance-based cash bonuses were tied to median 2-qubit fidelity improvements using industry standard measurement methods for 100+ qubits.
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.