Velarion · Company Intelligence
Compensation Brief
Fiscal year 2023 · Filings through 2025-02-03

BM Technologies (BMTX)

CEO Luvleen Sidhu was paid $1,178,775 in fiscal year 2023, ↑ up 93.8% from fiscal year 2022 (SEC filing 0001213900-24-037263 ↗): 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.

$1,178,775 ↑
Luvleen Sidhu total, FY2023
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CEO pay percentile vs peers
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CEO-to-median pay ratio
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Say-on-pay support, latest vote

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01

Summary Compensation Table — fiscal year 2023

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Luvleen Sidhu$350,000$175,175$645,500$0$0$0$8,100$1,178,775
Founder, Chief Executive Officer and Chair
James Donahue300,000109,200484,1250008,100901,425
President
James Dullinger275,000110,000193,6500008,100581,750
Former Chief Financial Officer
Rajinder Singh243,750000006,188249,938
Former Co-Chief Executive 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 officerFY2023 totalFY2022 totalFY2021 totalΔ FY2022→2023
Luvleen Sidhu$1,178,775$608,097—↑ +570,678
James Donahue901,425448,101—↑ +453,324
James Dullinger581,750———
Rajinder Singh249,938———

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 BMTX
1 company names BMTX as a compensation peer

The list of companies that name BMTX as a peer is temporarily unavailable — recheck shortly.

02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2023 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Mike GillDirector2025-01-31D4,000$5$20,000CommonForm 4 ↗
Brent HurleyDirector2025-01-31D48,4935242,465CommonForm 4 ↗
Luvleen SidhuDirector2025-01-31D100,0005500,000Derivative, Class A CommonForm 4 ↗
Luvleen SidhuDirector2025-01-31D747,04753,735,235CommonForm 4 ↗
James DonahuePresident & C T O2025-01-31D251,78051,258,900CommonForm 4 ↗
Marcy SchwabDirector2025-01-31D4,000520,000CommonForm 4 ↗
Michael PavoneDirector2025-01-31D2,000510,000CommonForm 4 ↗
Warren TaylorExecutive Vice President2025-01-31D38,9005194,500CommonForm 4 ↗
Ajay AsijaChief Financial Officer2025-01-31D150,0005750,000Derivative, Class A CommonForm 4 ↗
Luvleen SidhuDirector2025-01-31D75,0005375,000Derivative, Class A CommonForm 4 ↗
Luvleen SidhuDirector2025-01-31D100,0005500,000Derivative, Class A CommonForm 4 ↗
Luvleen SidhuDirector2025-01-31D250,00051,250,000Derivative, Class A CommonForm 4 ↗
Luvleen SidhuDirector2025-01-31D100,0005500,000Derivative, Class A CommonForm 4 ↗
John DolanDirector2025-01-31D3,000515,000CommonForm 4 ↗
Aaron HodariDirector2025-01-31D13,000565,000CommonForm 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 2023

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
James DonahueRSU2024-02-05——50,000——
Luvleen SidhuRSU2024-02-05——100,000——
03b

Vehicle mix — grant-date fair value by award type

Grant-level vehicle detail not disclosed.

% 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 2023

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Luvleen SidhuRSU700,321—$4,314,869
Luvleen SidhuRSU579,371—3,569,663
James DonahueRSU214,007—982,258
James DullingerRSU69,333—261,045
05

Incentive-plan design — the Compensation Discussion & Analysis

The Company's compensation philosophy emphasizes at-risk incentive compensation in the form of annual and long-term incentives to attract and retain key talent, promote growth, and motivate long-term shareholder value creation. Target total direct compensation is benchmarked relative to similarly sized companies within the consumer finance and application software industries, with aggregate base salaries and long-term incentive grants positioned below the 25th percentile of the market.

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

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20242024-06-20—————
20232023-06-20—————
20222022-06-15—————
20212021-06-16—————

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
20242024-06-20—a
20232023-06-20—b
20222022-06-15—c

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

c. Voting standard not stated in the filing.

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 2023

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
John DolanIndependent · Audit Committee (Chair)$10,000$0———$10,000
Aaron HodariNot independent10,0000———10,000
Mike GillIndependent · Lead Independent Director · Compensation Committee (Chair)10,0000———10,000
Brent HurleyIndependent · Nominating and Corporate Governance Committee (Chair)10,0000———10,000
A.J. DunklauNot standing for re-election · Departed during FY10,0000———10,000
Marcy SchwabIndependent · Audit10,0000———10,000
Michael PavoneIndependent · Compensation · Newly elected00———0
Luvleen SidhuEmployee director · Board Chair—————0
09

Board fee structure and ownership guideline

Annual cash retainer$20,000
Annual equity retainer—
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)—
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2023
Cash retainers and fees$60,000
Equity awards (grant-date value)$0
All other compensation$0
Total cost of the board$60,000

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
1BM Technologies2023Luvleen Sidhu$350,000$645,500$0$0$1,178,775

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 BM Technologies in fiscal 2023?
As disclosed, Luvleen Sidhu (Founder, Chief Executive Officer and Chair) was the highest-paid executive at BM Technologies in fiscal 2023, with total compensation of $1,178,775.
How much does BM Technologies spend in total on board compensation for fiscal 2023?
As disclosed, BM Technologies reported total board compensation of $60,000 for fiscal 2023.

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, Luvleen SidhuDEF 14A2024-04-290001213900-24-037263Section “Executive Compensation”. As printed: 1,178,775. Filing ↗machine: span 464069–464078
2Section 01, James DonahueDEF 14A2024-04-290001213900-24-037263Section “Executive Compensation”. As printed: 901,425. Filing ↗machine: span 548800–548807
3Section 01, James DullingerDEF 14A2024-04-290001213900-24-037263Section “Summary Compensation Table”. As printed: 581,750. Filing ↗machine: t13 · r10 · c23 · span 593090–593097
4Section 01, Rajinder SinghDEF 14A2024-04-290001213900-24-037263Section “Executive Compensation”. As printed: 249,938. Filing ↗machine: span 507963–507970
5Section 03, James Donahue RSUDEF 14A2024-04-290001213900-24-037263Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 673102–673108
6Section 03, Luvleen Sidhu RSUDEF 14A2024-04-290001213900-24-037263Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 666617–666624
7Section 08, John DolanDEF 14A2024-04-290001213900-24-037263Section “Director Compensation”. As printed: 10,000. Filing ↗machine: span 748273–748653
8Section 08, Aaron HodariDEF 14A2024-04-290001213900-24-037263Section “Director Compensation”. As printed: 10,000. Filing ↗machine: span 760604–760984
9Section 08, Mike GillDEF 14A2024-04-290001213900-24-037263Section “Director Compensation”. As printed: 10,000. Filing ↗machine: span 754448–754828
10Section 08, Brent HurleyDEF 14A2024-04-290001213900-24-037263Section “Director Compensation”. As printed: 10,000. Filing ↗machine: span 766740–767120
11Section 08, A.J. DunklauDEF 14A2024-04-290001213900-24-037263Section “Director Compensation”. As printed: 10,000. Filing ↗machine: span 779191–779571
12Section 08, Marcy SchwabDEF 14A2024-04-290001213900-24-037263Section “Director Compensation”. As printed: 10,000. Filing ↗machine: span 785347–785727
13Section 08, Michael PavoneDEF 14A2024-04-290001213900-24-037263Section “Director Compensation”. As printed: 0. Filing ↗
14Section 08, Luvleen SidhuDEF 14A2024-04-290001213900-24-037263Section “Director Compensation”. As printed: 0. Filing ↗
15Section 02, Mike Gill 2025-01-31Form 42025-02-030001213900-25-009116Insider equity transaction reported since the proxy statement. Filing ↗
16Section 02, Brent Hurley 2025-01-31Form 42025-02-030001213900-25-009132Insider equity transaction reported since the proxy statement. Filing ↗
17Section 02, Luvleen Sidhu 2025-01-31Form 42025-02-030001213900-25-009134Insider equity transaction reported since the proxy statement. Filing ↗
18Section 02, Luvleen Sidhu 2025-01-31Form 42025-02-030001213900-25-009134Insider equity transaction reported since the proxy statement. Filing ↗
19Section 02, James Donahue 2025-01-31Form 42025-02-030001213900-25-009121Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, Marcy Schwab 2025-01-31Form 42025-02-030001213900-25-009100Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, Michael Pavone 2025-01-31Form 42025-02-030001213900-25-009107Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Warren Taylor 2025-01-31Form 42025-02-030001213900-25-009123Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Ajay Asija 2025-01-31Form 42025-02-030001213900-25-009127Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Luvleen Sidhu 2025-01-31Form 42025-02-030001213900-25-009134Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Luvleen Sidhu 2025-01-31Form 42025-02-030001213900-25-009134Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Luvleen Sidhu 2025-01-31Form 42025-02-030001213900-25-009134Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Luvleen Sidhu 2025-01-31Form 42025-02-030001213900-25-009134Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, John Dolan 2025-01-31Form 42025-02-030001213900-25-009119Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Aaron Hodari 2025-01-31Form 42025-02-030001213900-25-009109Insider equity transaction reported since the proxy statement. Filing ↗
30Section 06, 2024 voteForm 8-K2024-06-200001213900-24-054319Item 5.07 · say-on-pay result. As reported: —. Filing ↗
31Section 06, 2023 voteForm 8-K2023-06-200001213900-23-050055Item 5.07 · say-on-pay result. As reported: —. Filing ↗
32Section 06, 2022 voteForm 8-K2022-06-170001213900-22-033585Item 5.07 · say-on-pay result. As reported: —. Filing ↗
33Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
34Section 09b board cost (computed)Computed——Cash 60,000 + equity 0 + all other 0 = 60,000, summed across the director compensation table rows.machine: formula: Σ = 60,000
35BM Technologies (subject), Section 10b CEO totalDEF 14A2024-04-290001213900-24-037263CEO total compensation as printed in BM Technologies's own proxy. As printed: 1,178,775. Filing ↗machine: span 464069–464078

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