How Conrad was paid
$8.3M 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 | Options | Incentive | Other | Total |
|---|---|---|---|---|---|---|---|
| Tom ConradChief Executive Officer | $1,258,654 | $750,000 | $6,073,193 | — | $146,416 | $47,091 | $8,275,354 |
| Patrick SpenceFormer Chief Executive Officer | $202,308 | — | $4,997,977 | $1,479,225 | — | $1,910,653 | $8,590,163 |
| Saori CaseyChief Financial Officer | $550,000 | — | $3,375,695 | — | $326,755 | $7,462 | $4,259,912 |
| Eddie LazarusChief Legal and Business Development Officer | $475,000 | — | $4,654,148 | — | $282,198 | $10,500 | $5,421,846 |
| Nicholas MillingtonChief Innovation Officer | $450,000 | — | $1,449,880 | — | $267,345 | $10,106 | $2,177,331 |
| Shamayne BramanFormer Chief People Officer | $355,385 | — | $1,303,659 | — | — | $642,477 | $2,301,521 |
What changed and why
- $8.3MTom Conrad received total compensation of $8,275,354 for fiscal 2025 following his appointment as chief executive officer.
- $8.6MPatrick Spence stepped down as chief executive officer and received total compensation of $8,590,163, including severance.
- $100MThe company reduced operating expenses by more than $100 million on a run-rate basis during the transition year.
- 130.9%The compensation committee determined achievement of the fiscal 2025 performance goals under the annual cash incentive plan at 130.9%.
- 56%Say-on-pay support from the prior annual meeting stood at approximately 56% excluding abstentions and broker non-votes.
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.