Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-09

Bimini Capital Management (BMNM)

CEO Robert Cauley was paid $4,969,291 in fiscal year 2025, ↑ up 80.5% from fiscal year 2024 (SEC filing 0001437749-26-013376 ↗): 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.

$4,969,291 ↑
Robert Cauley total, FY2025
—
CEO pay percentile vs peers
—
CEO-to-median pay ratio
79.93%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Robert Cauley (President and Chief Executive Officer), FY2025 total compensation $4,969,291 (base salary $1,200,407) [exec_comp, SEC accession 0001437749-26-013376, filed 2026-04-27]

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BMNM's next annual pay disclosure, estimated April 27, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Robert Cauley$1,200,407$1,977,609$1,762,548$0$0$0$28,726$4,969,291
President and Chief Executive Officer
George Haas914,7891,605,5161,347,44000021,0593,888,804
Chief Financial Officer

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 FY2024→2025
Robert Cauley$4,969,291$2,752,423—↑ +2,216,868
George Haas3,888,8042,176,223—↑ +1,712,581

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

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Companies that benchmark against BMNM
No companies currently name BMNM as a compensation peer in their most recent disclosure.

This is the complete answer, not a partial one — the list is never padded.

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Robert CauleyPSU2026-03-01————$1,762,548
George HaasPSU2026-03-01————1,347,440
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Robert Cauley$0$1,762,548$0100.0%
George Haas01,347,4400100.0%

% 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
IncomeOption3,009,9800.99—
05

Incentive-plan design — the Compensation Discussion & Analysis

The Compensation Committee sets general performance goals and objectives for named executive officers at the beginning of each year, monitors overall company performance and goal achievement throughout the year, and determines salaries and bonuses at the end of the year based on company performance, goal achievement, and peer company compensation data.

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
20262026-06-094,120,9601,035,0718,27379.93%Passed
20232023-06-143,992,5721,239,26510,31676.31%Passed
20202020-06-164,780,438493,44039,39090.64%Passed
20192019-06-114,999,974252,16814,90695.2%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
20262026-06-0979.93%a
20232023-06-1476.31%b
20202020-06-1690.64%c

a. Voting standard not stated in the filing.

b. Approved under the standard stated in the filing — “For purposes of the vote on Proposal 3, abstentions will not be counted as votes cast and will have no effect on the result of the vote.”.

c. Approved under the standard stated in the filing — “For purposes of the ratification BDO USA, LLP and approval of our executive compensation, abstentions and broker non-votes will not be counted as votes cast and will have no effect on the results of those votes.”.

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.

08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Robert J. DwyerIndependent · Lead Independent Director · Audit · Compensation · Corporate Governance and Nominating$220,500————$220,500
Frank E. JaumotIndependent · Departed during FY202,500————202,500
Ashley B. GriffithIndependent · Audit30,598————30,598
George H. Haas IVEmployee director—————0
Robert E. CauleyEmployee director · Board Chair—————0
09

Board fee structure and ownership guideline

Annual cash retainer$202,500
Annual equity retainer—
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)6,000 / 6,000 / 6,000
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$453,598
Equity awards (grant-date value)$0
All other compensation$0
Total cost of the board$453,598

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
1Bimini Capital Management2025Robert Cauley$1,200,407$1,762,548$0$0$4,969,291

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.

10d

Frequently asked questions

Who was the highest-paid executive at Bimini Capital Management in fiscal 2025?
As disclosed, Robert Cauley (President and Chief Executive Officer) was the highest-paid executive at Bimini Capital Management in fiscal 2025, with total compensation of $4,969,291.
How did shareholders vote on Bimini Capital Management's executive compensation?
As disclosed, 79.93% of shareholders supported Bimini Capital Management's executive compensation in the latest say-on-pay vote.
How much does Bimini Capital Management spend in total on board compensation for fiscal 2025?
As disclosed, Bimini Capital Management reported total board compensation of $453,598 for fiscal 2025.

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, Robert CauleyDEF 14A2026-04-270001437749-26-013376Section “Summary Compensation Table” · page 20. As printed: 4,969,291. Filing ↗machine: r3 · c20 · span 268642–268651
2Section 01, George HaasDEF 14A2026-04-270001437749-26-013376Section “Summary Compensation Table” · page 20. As printed: 3,888,804. Filing ↗machine: r6 · c20 · span 275273–275282
3Section 03, Robert Cauley PSUDEF 14A2026-04-270001437749-26-013376Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
4Section 03, George Haas PSUDEF 14A2026-04-270001437749-26-013376Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
5Section 08, Robert J. DwyerDEF 14A2026-04-270001437749-26-013376Section “Director Compensation”. As printed: 220,500. Filing ↗machine: span 188647–188654
6Section 08, Frank E. JaumotDEF 14A2026-04-270001437749-26-013376Section “Director Compensation”. As printed: 202,500. Filing ↗machine: span 190490–190497
7Section 08, Ashley B. GriffithDEF 14A2026-04-270001437749-26-013376Section “Director Compensation”. As printed: 30,598. Filing ↗machine: span 191921–191927
8Section 08, George H. Haas IVDEF 14A2026-04-270001437749-26-013376Section “Director Compensation”. As printed: 0. Filing ↗
9Section 08, Robert E. CauleyDEF 14A2026-04-270001437749-26-013376Section “Director Compensation”. As printed: 0. Filing ↗
10Section 06, 2026 voteForm 8-K2026-06-090001437749-26-020023Item 5.07 · say-on-pay result. As reported: 79.93% (votes for as printed: 4,120,960). Filing ↗
11Section 06, 2023 voteForm 8-K2023-06-140001437749-23-017414Item 5.07 · say-on-pay result. As reported: 76.31% (votes for as printed: 3,992,572). Filing ↗
12Section 06, 2020 voteForm 8-K2020-06-160001518621-20-000037Item 5.07 · say-on-pay result. As reported: 90.64%. Filing ↗
13Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
14Section 03b vehicle mix (computed)Computed——RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
15Section 09b board cost (computed)Computed——Cash 453,598 + equity 0 + all other 0 = 453,598, summed across the director compensation table rows.machine: formula: Σ = 453,598
16Bimini Capital Management (subject), Section 10b CEO totalDEF 14A2026-04-270001437749-26-013376CEO total compensation as printed in Bimini Capital Management's own proxy. As printed: 4,969,291. Filing ↗machine: r3 · c20 · span 268642–268651

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