Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-29

Bread Financial Holdings, Inc. (BFH)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$11,921,231
Ralph Andretta total, FY2025
50th
CEO pay percentile vs peers
129:1
CEO-to-median pay ratio
91.96%
Say-on-pay support, latest vote
Companies that benchmark against BFH
19 companies name BFH as a compensation peer

Each company listed discloses BFH in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named BFH in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Ralph Andretta$1,196,539$0$7,019,369$0$3,430,800$0$274,523$11,921,231
President and Chief Executive Officer
Perry Beberman697,30801,805,03701,651,0730146,1884,299,606
Executive Vice President and Chief Financial Officer
Valerie Greer697,30801,805,03701,651,0730118,4434,271,861
Executive Vice President and Chief Commercial Officer
Allegra Driscoll642,077550,0001,203,37901,425,819062,2693,883,544
Executive Vice President and Chief Technology Officer
Joseph Motes678,46201,433,95701,506,6930117,3673,736,479
Executive Vice President, Chief Legal and Administrative Officer and Secretary

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Ralph Andretta$11,921,231$10,638,047+1,283,184
Perry Beberman4,299,6063,891,573+408,033
Valerie Greer4,271,8613,902,574+369,287
Allegra Driscoll3,883,5444,041,559−158,015
Joseph Motes3,736,479

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
John C. Gerspach, JrDirector2026-04-15A483CommonForm 4 ↗
Roger H. BallouDirector2026-04-24D9,68790874,930CommonForm 4 ↗
John J. FawcettDirector2026-05-21A6988660,328CommonForm 4 ↗
Ralph J. AndrettaDirector2026-05-29D1,50088132,345CommonForm 4 ↗
Ralph J. AndrettaDirector2026-05-29D12,500891,114,625CommonForm 4 ↗
Ralph J. AndrettaDirector2026-05-29D1,0009089,570CommonForm 4 ↗
John C. Gerspach, JrDirector2026-06-15A1,638CommonForm 4 ↗
Laurie A. TuckerDirector2026-06-15A1,638CommonForm 4 ↗
Sharen J. TurneyDirector2026-06-15A1,638CommonForm 4 ↗
Praniti LakhwaraDirector2026-06-15A1,638CommonForm 4 ↗
Rajesh NatarajanDirector2026-06-15A1,638CommonForm 4 ↗
John J. FawcettDirector2026-06-15A1,638CommonForm 4 ↗
Timothy J. TheriaultDirector2026-06-15A1,638CommonForm 4 ↗
Joyce St. ClairDirector2026-06-15A1,638CommonForm 4 ↗
John C. Gerspach, JrDirector2026-07-15A730CommonForm 4 ↗
Praniti LakhwaraDirector2026-07-28D2,802106297,348CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Valerie GreerRSU2025-02-1811,655$722,027
Joseph MotesRSU2025-02-189,259573,595
Ralph AndrettaRSU2025-02-1845,3232,807,760
Allegra DriscollPSU2025-02-184,66211,65518,648722,027
Valerie GreerPSU2025-02-186,99317,48227,9711,083,010
Perry BebermanRSU2025-02-1811,655722,027
Perry BebermanPSU2025-02-186,99317,48227,9711,083,010
Ralph AndrettaPSU2025-02-1827,19467,984108,7744,211,609
Joseph MotesPSU2025-02-185,55513,88822,221860,362
Allegra DriscollRSU2025-02-187,770481,352
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Valerie Greer$722,027$1,083,010$060.0%
Joseph Motes573,595860,362060.0%
Ralph Andretta2,807,7604,211,609060.0%
Allegra Driscoll481,352722,027060.0%
Perry Beberman722,0271,083,010060.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Allegra DriscollPSU27,818$2,059,367
Allegra DriscollPSU18,6481,380,511
Ralph AndrettaPSU108,7758,052,613
Valerie GreerRSU30,8532,284,048
Perry BebermanRSU30,4202,251,993
Valerie GreerPSU27,9722,070,767
Perry BebermanPSU27,9722,070,767
Allegra DriscollRSU16,0541,188,478
Joseph MotesRSU22,8041,688,180
Ralph AndrettaRSU106,1807,860,505
Valerie GreerPSU43,7493,238,738
Ralph AndrettaRSU106,4427,879,901
Joseph MotesRSU23,7191,755,918
Joseph MotesPSU22,2211,645,021
Valerie GreerRSU29,1642,159,011
Ralph AndrettaPSU151,73011,232,572
Joseph MotesPSU33,6352,489,999
Perry BebermanPSU43,7493,238,738
Perry BebermanRSU30,8532,284,048
05

Incentive-plan design — the Compensation Discussion & Analysis

Our executive compensation program supports our business strategies by properly incentivizing and rewarding our executives for performance, aligning our executives interests with the long-term interests of our stockholders, and allowing us to attract, retain and motivate the highest level of executive talent

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultant
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-1931,508,0962,754,47825,85991.96%Passed
20252025-05-1337,034,0751,857,22569,53995.22%Passed
20242024-05-1431,462,4527,112,62933,49281.56%Passed
20232023-05-1630,233,6259,779,60337,94275.56%Passed
20222022-05-2433,357,1956,900,20936,11782.86%Passed
20212021-05-2729,884,5066,902,550105,43681.24%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-1991.96%a
20252025-05-1395.22%b
20242024-05-1481.56%c

a. Approved under the standard stated in the filing — “An "Abstention" with respect to Proposal Two will not be voted on that item, although it will be counted for purposes of determining the number of shares represented and entitled to vote.”.

b. Approved under the standard stated in the filing — “An "Abstention" with respect to Proposal Two will not be voted on that item, although it will be counted for purposes of determining the number of shares represented and entitled to vote. Accordingly, an "Abstention" will have the same effect as a vote "Against" Proposal Two.”.

c. Approved under the standard stated in the filing — “Accordingly, an "Abstention" will have the same effect as a vote "Against" Proposal Two.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)129 : 1
CEO total compensation$11,921,231
Median employee compensation$92,604
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Roger H. BallouIndependent · Audit · Compensation & Human Capital · Not standing for re-election$280,500$147,245$0$0$51,064$478,809
Timothy J. TheriaultIndependent · Audit · Risk & Technology (Chair)292,250147,24500439,495
John C. Gerspach, JrIndependent · Board Chair · Audit · Compensation & Human Capital303,14600303,146
Sharen J. TurneyIndependent · Compensation & Human Capital (Chair) · Nominating & Corporate Governance137,500147,2450016,945301,690
Laurie A. TuckerIndependent · Compensation & Human Capital · Nominating & Corporate Governance (Chair)137,500147,24500284,745
John J. FawcettIndependent · Audit (Chair) · Nominating & Corporate Governance130,500147,245002,917280,662
Rajesh NatarajanIndependent · Compensation & Human Capital · Risk & Technology117,500147,245002,917267,662
Joyce St. ClairIndependent · Audit · Risk & Technology117,500147,245002,917267,662
Praniti LakhwaraIndependent · Risk & Technology107,500147,245002,369257,114
Ralph J. AndrettaEmployee director00000
09

Board fee structure and ownership guideline

Annual cash retainer$100,000
Annual equity retainer$145,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)40,000 / 30,000 / 30,000
Stock ownership guideline5x annual retainer
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,320,750
Equity awards (grant-date value)$1,481,106
All other compensation$79,129
Total cost of the board$2,880,985

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Bread Financial Holdings, Inc.2025Ralph Andretta$1,196,539$7,019,369$0$3,430,800$11,921,231

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

FAQ

Frequently asked questions

Who was the highest-paid executive at Bread Financial Holdings, Inc. in fiscal 2025?
Ralph Andretta, serving as President and Chief Executive Officer, was the highest-paid executive with total compensation of $11,921,231.
How does Bread Financial Holdings, Inc.'s chief executive pay compare to its disclosed peer group?
The CEO's pay falls within the 50th percentile of the disclosed peer group.
What is Bread Financial Holdings, Inc.'s CEO-to-median employee pay ratio?
The CEO-to-median employee pay ratio was 129:1.
How did shareholders vote on Bread Financial Holdings, Inc.'s executive compensation?
Shareholders approved the executive compensation plan with 91.96% support in the latest vote.
How much does Bread Financial Holdings, Inc. spend in total on board compensation for fiscal 2025?
Total board compensation for fiscal 2025 was $2,880,985.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Ralph AndrettaDEF 14A2026-04-070001193125-26-144512Section “Summary Compensation Table”. As printed: 11,921,231. Filing ↗machine: r2 · c16 · span 2988661–2988671
2Section 01, Perry BebermanDEF 14A2026-04-070001193125-26-144512Section “Summary Compensation Table”. As printed: 4,299,606. Filing ↗machine: r5 · c16 · span 3010899–3010908
3Section 01, Valerie GreerDEF 14A2026-04-070001193125-26-144512Section “Summary Compensation Table”. As printed: 4,271,861. Filing ↗machine: r10 · c16 · span 3047359–3047368
4Section 01, Allegra DriscollDEF 14A2026-04-070001193125-26-144512Section “Summary Compensation Table”. As printed: 3,883,544. Filing ↗machine: r8 · c16 · span 3032535–3032544
5Section 01, Joseph MotesDEF 14A2026-04-070001193125-26-144512Section “Summary Compensation Table”. As printed: 3,736,479. Filing ↗machine: r13 · c16 · span 3069541–3069550
6Section 03, Valerie Greer RSUDEF 14A0001193125-26-144512Section “INDEPENDENT COMPENSATION CONSULTANT” · grants of plan-based awards table. Filing ↗machine: t91 · r5 · c11 · span 2569679–2569685
7Section 03, Joseph Motes RSUDEF 14A2026-04-070001193125-26-144512Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
8Section 03, Ralph Andretta RSUDEF 14A2026-04-070001193125-26-144512Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t91 · r2 · c11 · span 2552351–2552357
9Section 03, Allegra Driscoll PSUDEF 14A0001193125-26-144512Section “INDEPENDENT COMPENSATION CONSULTANT” · grants of plan-based awards table. Filing ↗machine: t91 · r4 · c7 · span 2562186–2562192
10Section 03, Valerie Greer PSUDEF 14A0001193125-26-144512Section “INDEPENDENT COMPENSATION CONSULTANT” · grants of plan-based awards table. Filing ↗machine: t91 · r5 · c7 · span 2567960–2567966
11Section 03, Perry Beberman RSUDEF 14A2026-04-070001193125-26-144512Section “INDEPENDENT COMPENSATION CONSULTANT” · grants of plan-based awards table. Filing ↗machine: t91 · r3 · c11 · span 2558127–2558133
12Section 03, Perry Beberman PSUDEF 14A2026-04-070001193125-26-144512Section “INDEPENDENT COMPENSATION CONSULTANT” · grants of plan-based awards table. Filing ↗machine: t91 · r3 · c7 · span 2556408–2556414
13Section 03, Ralph Andretta PSUDEF 14A2026-04-070001193125-26-144512Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t91 · r2 · c7 · span 2550632–2550638
14Section 03, Joseph Motes PSUDEF 14A2026-04-070001193125-26-144512Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
15Section 03, Allegra Driscoll RSUDEF 14A2026-04-070001193125-26-144512Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t91 · r4 · c11 · span 2563905–2563910
16Section 07, pay ratioDEF 14A2026-04-070001193125-26-144512Section “CEO Pay Ratio”. As printed: 129 : 1. Filing ↗machine: span 3655316–3655319
17Section 08, Roger H. BallouDEF 14A2026-04-070001193125-26-144512Section “Director Compensation”. As printed: 478,809. Filing ↗machine: t106 · r2 · c14 · span 3569253–3569260
18Section 08, Timothy J. TheriaultDEF 14A2026-04-070001193125-26-144512Section “Director Compensation”. As printed: 439,495. Filing ↗machine: t106 · r8 · c14 · span 3609971–3609978
19Section 08, John C. Gerspach, JrDEF 14A2026-04-070001193125-26-144512Section “Director Compensation”. As printed: 303,146. Filing ↗machine: t106 · r4 · c4 · span 3578559–3578566
20Section 08, Sharen J. TurneyDEF 14A2026-04-070001193125-26-144512Section “Director Compensation”. As printed: 301,690. Filing ↗machine: t106 · r10 · c14 · span 3623598–3623605
21Section 08, Laurie A. TuckerDEF 14A2026-04-070001193125-26-144512Section “Director Compensation”. As printed: 284,745. Filing ↗machine: t106 · r9 · c14 · span 3616778–3616785
22Section 08, John J. FawcettDEF 14A2026-04-070001193125-26-144512Section “Director Compensation”. As printed: 280,662. Filing ↗machine: t106 · r3 · c14 · span 3576027–3576034
23Section 08, Rajesh NatarajanDEF 14A2026-04-070001193125-26-144512Section “Director Compensation”. As printed: 267,662. Filing ↗machine: t106 · r6 · c14 · span 3596403–3596410
24Section 08, Joyce St. ClairDEF 14A2026-04-070001193125-26-144512Section “Director Compensation”. As printed: 267,662. Filing ↗machine: t106 · r7 · c14 · span 3603160–3603167
25Section 08, Praniti LakhwaraDEF 14A2026-04-070001193125-26-144512Section “Director Compensation”. As printed: 257,114. Filing ↗machine: t106 · r5 · c14 · span 3589598–3589605
26Section 08, Ralph J. AndrettaDEF 14A2026-04-070001193125-26-144512Section “Director Compensation”. As printed: 0. Filing ↗
27Section 02, John C. Gerspach, Jr 2026-04-15Form 42026-04-170001321140-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Roger H. Ballou 2026-04-24Form 42026-04-270001158369-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, John J. Fawcett 2026-05-21Form 42026-05-220001614143-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Ralph J. Andretta 2026-05-29Form 42026-06-010001801850-26-000005Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Ralph J. Andretta 2026-05-29Form 42026-06-010001801850-26-000005Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Ralph J. Andretta 2026-05-29Form 42026-06-010001801850-26-000005Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, John C. Gerspach, Jr 2026-06-15Form 42026-06-170001321140-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Laurie A. Tucker 2026-06-15Form 42026-06-170001391264-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Sharen J. Turney 2026-06-15Form 42026-06-170001363500-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Praniti Lakhwara 2026-06-15Form 42026-06-170002026080-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Rajesh Natarajan 2026-06-15Form 42026-06-170001812674-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, John J. Fawcett 2026-06-15Form 42026-06-170001614143-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Timothy J. Theriault 2026-06-15Form 42026-06-170001190305-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Joyce St. Clair 2026-06-15Form 42026-06-170001393081-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, John C. Gerspach, Jr 2026-07-15Form 42026-07-170001321140-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Praniti Lakhwara 2026-07-28Form 42026-07-290002026080-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
43Section 06, 2026 voteForm 8-K2026-05-220001101215-26-000058Item 5.07 · say-on-pay result. As reported: 91.96% (votes for as printed: 31,508,096). Filing ↗
44Section 06, 2025 voteForm 8-K2025-05-140001101215-25-000086Item 5.07 · say-on-pay result. As reported: 95.22% (votes for as printed: 37,034,075). Filing ↗
45Section 06, 2024 voteForm 8-K2024-05-150001101215-24-000116Item 5.07 · say-on-pay result. As reported: 81.56% (votes for as printed: 31,462,452). Filing ↗
46Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
47Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
48Section 09b board cost (computed)ComputedcomputedCash 1,320,750 + equity 1,481,106 + all other 79,129 = 2,880,985, summed across the director compensation table rows.machine: formula: Σ = 2,880,985
49Bread Financial Holdings, Inc. (subject), Section 10b CEO totalDEF 14A2026-04-070001193125-26-144512CEO total compensation as printed in Bread Financial Holdings, Inc.'s own proxy. As printed: 11,921,231. Filing ↗machine: r2 · c16 · span 2988661–2988671