Velarion · Company Intelligence
Compensation Brief
Fiscal year 2021 · Filings through 2026-04-24

Broadmark Realty Capital (BRMK)

Fiscal year 2021 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.

$1,596,568
Jeffrey Pyatt total, FY2021
CEO pay percentile vs peers
CEO-to-median pay ratio
95.57%
Say-on-pay support, latest vote
Companies that benchmark against BRMK
1 company names BRMK as a compensation peer

Each company listed discloses BRMK 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 BRMK 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 2021

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Jeffrey Pyatt$650,000$0$664,467$0$264,063$0$18,038$1,596,568
President and Chief Executive Officer
Nevin Boparai365,0000436,0650164,250014,580979,895
Chief Legal Officer
David Schneider370,0000436,0650166,50002,100974,665
Chief Financial Officer
Linda Koa345,0000280,3300133,688015,600774,618
Chief Operating Officer
Daniel Hirsty300,0000132,8930135,000015,113583,006
Chief Credit 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 officerFY2021 totalFY2020 totalFY2019 totalΔ FY20202021
Jeffrey Pyatt$1,596,568
Nevin Boparai979,895
David Schneider974,665
Linda Koa774,618
Daniel Hirsty583,006

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

No insider equity transactions reported since the proxy statement.

04

Outstanding equity awards at fiscal year-end 2021

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Linda KoaPSU8,192$77,251
David SchneiderPSU12,743120,166
Daniel HirstyPSU3,88436,626
Nevin BoparaiRSU15,322158,123
Nevin BoparaiRSU25,486240,333
Nevin BoparaiPSU12,743120,166
Jeffrey PyattPSU19,418183,112
Jeffrey PyattRSU27,776261,928
David SchneiderRSU20,832196,446
Jeffrey PyattRSU38,835366,214
Jeffrey PyattRSU29,238275,714
Linda KoaRSU16,384154,501
David SchneiderRSU16,000150,888
Daniel HirstyRSU7,76773,243
David SchneiderRSU25,486240,333
David SchneiderRSU26,418262,167
Nevin BoparaiRSU30,664288,973
Jeffrey PyattRSU45,790476,969
05

Incentive-plan design — the Compensation Discussion & Analysis

Our executive compensation program is designed to achieve the following objectives: Attract, retain and reward experienced, highly motivated executives who are capable of leading our Company in executing our corporate strategy. Link compensation earned to achievement of our short-term and long-term financial and strategic goals. Align the interests of management with those of our stockholders by providing a substantial portion of compensation in the form of equity-based incentives and maintaining robust stock ownership requirements. Adhere to high standards of corporate governance.

CEO STI target (% of salary)125%
CEO LTI target (% of salary)
Independent consultantFW Cook
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20222022-06-0960,656,7392,812,3203,240,99895.57%Passed
20212021-06-1070,593,1422,110,653647,27597.1%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
20222022-06-0995.57%a
20212021-06-1097.1%b

a. Approved under the standard stated in the filing — “For purposes of these proposals, abstentions and broker non-votes, if any, will not be counted as votes cast and therefore will have no effect on the outcome of any of these proposals.”.

b. Approved under the standard stated in the filing — “For purposes of these proposals, abstentions and broker non-votes, if any, will not be counted as votes cast and therefore will have no effect on the outcome of any of these proposals.”.

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.

09

Board fee structure and ownership guideline

Annual cash retainer$75,000
Annual equity retainer$90,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)20,000 / 15,000 / 10,000
Stock ownership guideline
10

Disclosed peer group — fiscal year 2021

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Broadmark Realty Capital names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Broadmark Realty Capital.

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
1Ladder Capital Corp2025Brian Harris$1,000,000$8,816,833$0$4,124,700$13,944,233
2Arbor Realty Trust Inc2025Ivan Kaufman1,200,0005,259,1520011,785,559
3Hercules Capital Inc2025Scott Bluestein650,0005,047,162009,670,162
4Main Street Capital Corporation2025Dwayne Hyzak759,3754,283,74808,837,682
5New York Mortgage Trust Inc2025Jason Serrano920,0004,102,96202,992,5008,175,252
6MFA Financial Inc2025Craig Knutson825,0004,080,0111,605,1237,079,634
7Velocity Financial Inc2025Christopher Farrar630,0002,900,00002,520,0006,564,245
8Redwood Trust Inc2025Christopher Abate975,0003,262,48101,808,0166,131,948
9BrightSpire Capital Inc2025Michael Mazzei800,0003,283,90501,750,0005,849,879
10NETSTREIT Corp2025Mark Manheimer700,0003,194,41601,253,1755,165,527
11Guild Holdings Co2024Terry Schmidt700,0001,500,00201,673,9134,055,742
12Granite Point Mortgage Trust Inc2025John Taylor1,000,0002,166,7410576,5003,757,041
13Plymouth Industrial REIT, Inc2024Jeffrey Witherell643,7501,799,9800620,0003,108,503
14One Liberty Properties, Inc2025Patrick Callan1,061,330776,200002,009,253
15Global Medical REIT Inc2025Mark Decker, Jr.371,3891,148,5560222,8331,817,778
16Broadmark Realty Capital2021Jeffrey Pyatt650,000664,4670264,0631,596,568
17Bridgewater Bancshares Inc2025Jerry Baack650,000218,3720433,0001,349,932
iStar Incnot in coverage universe

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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Broadmark Realty Capital32.5%RSU 50 · PSU 50Yes — Three-year TSR relative to FTSE NAREIT Mortgage REITs Index Commercial Financing REITsFW Cook
Arbor Realty Trust Incnot disclosedRSU 100Yes — Total Shareholder Return (TSR)not disclosed
Bridgewater Bancshares Inc89%RSU 100not disclosedPearl Meyer
BrightSpire Capital Inc97.2%RSU 50 · PSU 50YesFerguson Partners
Global Medical REIT Incnot disclosedLTIP Units 100YesFarient
Granite Point Mortgage Trust Inc57.7%PSU 50 · RSU 50NoSemler Brossy Consulting Group LLC
Guild Holdings Conot disclosedRSU 100not disclosedMeridian Compensation Partners
Hercules Capital Incnot disclosednot disclosednot disclosedFW Cook
iStar Incnot disclosednot disclosednot disclosednot disclosed
Ladder Capital Corpnot disclosedRSU 100not disclosedFTI Consulting, Inc.
Main Street Capital Corporationnot disclosedRestricted Stock 100not disclosedJohnson Associates, Inc.
MFA Financial Inc107.0%PSU 60 · RSU 40Yes — Absolute TSRFrederic W. Cook & Co., Inc. (FW Cook)
NETSTREIT Corp179.0%PSU 60 · RSU 40Yes — Absolute TSRFPC and Farient
New York Mortgage Trust Inc130%PSU 60 · RSU 40Yes — relative total stockholder return (TSR)Pearl Meyer
One Liberty Properties, Incnot disclosedRSU 100Yes — Total Stockholder Return (TSR)Ferguson Partners Consulting L.P.
Plymouth Industrial REIT, Inc77.5%RSU 50 · PSU 50Yes — 3-Year Relative TSR vs. MSCI US REIT IndexFerguson Partners Consulting L.P.
Redwood Trust Inc86%PSU 55 · RSU 45Yes — relative TSR (rTSR)Semler Brossy Consulting Group LLC
Velocity Financial Inc200%RSU 50 · PSU 50NoMercer (US) Inc.

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

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, Jeffrey PyattDEF 14A2022-04-280001140361-22-016539Section “Summary Compensation Table”. As printed: 1,596,568. Filing ↗machine: r1 · c21 · span 872825–872834
2Section 01, Nevin BoparaiDEF 14A2022-04-280001140361-22-016539Section “Summary Compensation Table”. As printed: 979,895. Filing ↗machine: r7 · c21 · span 899863–899870
3Section 01, David SchneiderDEF 14A2022-04-280001140361-22-016539Section “Summary Compensation Table”. As printed: 974,665. Filing ↗machine: r4 · c21 · span 886592–886599
4Section 01, Linda KoaDEF 14A2022-04-280001140361-22-016539Section “Summary Compensation Table”. As printed: 774,618. Filing ↗machine: r9 · c21 · span 909081–909088
5Section 01, Daniel HirstyDEF 14A2022-04-280001140361-22-016539Section “Summary Compensation Table”. As printed: 583,006. Filing ↗machine: r11 · c21 · span 918350–918357
6Section 06, 2022 voteForm 8-K2022-06-100001104659-22-069833Item 5.07 · say-on-pay result. As reported: 95.57%. Filing ↗
7Section 06, 2021 voteForm 8-K2021-06-110001104659-21-080185Item 5.07 · say-on-pay result. As reported: 97.1% (votes for as printed: 70,593,142). Filing ↗machine: span 35049–36978
8Ladder Capital Corp, Section 10b CEO totalDEF 14A2026-04-210001577670-26-000018CEO total compensation as printed in Ladder Capital Corp's own proxy. As printed: 13,944,233. Filing ↗machine: r3 · c36 · span 603013–603023
9Arbor Realty Trust Inc, Section 10b CEO totalDEF 14A2026-04-160001253986-26-000027CEO total compensation as printed in Arbor Realty Trust Inc's own proxy. As printed: 11,785,559. Filing ↗machine: span 343111–343121
10Hercules Capital Inc, Section 10b CEO totalDEF 14A2026-04-230001280784-26-000015CEO total compensation as printed in Hercules Capital Inc's own proxy. As printed: 9,670,162. Filing ↗machine: r2 · c36 · span 384564–384573
11Main Street Capital Corporation, Section 10b CEO totalDEF 14A2026-03-230001396440-26-000020CEO total compensation as printed in Main Street Capital Corporation's own proxy. As printed: 8,837,682. Filing ↗machine: t24 · r2 · c16 · span 403689–403698
12New York Mortgage Trust Inc, Section 10b CEO totalDEF 14A2026-04-240001273685-26-000038CEO total compensation as printed in New York Mortgage Trust Inc's own proxy. As printed: 8,175,252. Filing ↗machine: span 827801–827810
13MFA Financial Inc, Section 10b CEO totalDEF 14A2026-04-170001140361-26-015388CEO total compensation as printed in MFA Financial Inc's own proxy. As printed: 7,079,634. Filing ↗machine: r2 · c22 · span 815805–815814
14Velocity Financial Inc, Section 10b CEO totalDEF 14A2026-04-100001193125-26-150488CEO total compensation as printed in Velocity Financial Inc's own proxy. As printed: 6,564,245. Filing ↗machine: r4 · c31 · span 370748–370757
15Redwood Trust Inc, Section 10b CEO totalDEF 14A2026-03-310000930236-26-000011CEO total compensation as printed in Redwood Trust Inc's own proxy. As printed: 6,131,948. Filing ↗machine: span 755087–755096
16BrightSpire Capital Inc, Section 10b CEO totalDEF 14A2026-04-010001717547-26-000026CEO total compensation as printed in BrightSpire Capital Inc's own proxy. As printed: 5,849,879. Filing ↗machine: t89 · r7 · c18 · span 543725–543734
17NETSTREIT Corp, Section 10b CEO totalDEF 14A2026-04-010001628280-26-022557CEO total compensation as printed in NETSTREIT Corp's own proxy. As printed: 5,165,527. Filing ↗machine: r2 · c13 · span 1458631–1458640
18Guild Holdings Co, Section 10b CEO totalDEF 14A2025-04-140001821160-25-000020CEO total compensation as printed in Guild Holdings Co's own proxy. As printed: 4,055,742. Filing ↗machine: r2 · c33 · span 396782–396792
19Granite Point Mortgage Trust Inc, Section 10b CEO totalDEF 14A2026-04-200001104659-26-045496CEO total compensation as printed in Granite Point Mortgage Trust Inc's own proxy. As printed: 3,757,041. Filing ↗machine: r1 · c41 · span 1477032–1477041
20Plymouth Industrial REIT, Inc, Section 10b CEO totalDEF 14A2025-04-280001171520-25-000158CEO total compensation as printed in Plymouth Industrial REIT, Inc's own proxy. As printed: 3,108,503. Filing ↗machine: r1 · c12 · span 469279–469288
21One Liberty Properties, Inc, Section 10b CEO totalDEF 14A2026-04-200001140361-26-015499CEO total compensation as printed in One Liberty Properties, Inc's own proxy. As printed: 2,009,253. Filing ↗machine: r2 · c18 · span 461230–461239
22Global Medical REIT Inc, Section 10b CEO totalDEF 14A2026-04-080001104659-26-040956CEO total compensation as printed in Global Medical REIT Inc's own proxy. As printed: 1,817,778. Filing ↗machine: t115 · r2 · c23 · span 428747–428756
23Broadmark Realty Capital (subject), Section 10b CEO totalDEF 14A2022-04-280001140361-22-016539CEO total compensation as printed in Broadmark Realty Capital's own proxy. As printed: 1,596,568. Filing ↗machine: r1 · c21 · span 872825–872834
24Bridgewater Bancshares Inc, Section 10b CEO totalDEF 14A2026-03-160001104659-26-028272CEO total compensation as printed in Bridgewater Bancshares Inc's own proxy. As printed: 1,349,932. Filing ↗machine: t135 · r6 · c22 · span 897478–897487
25Section 10a, Bridgewater Bancshares Inc reciprocityDEF 14A0001104659-26-028272Bridgewater Bancshares Inc's most recent proxy was read; its disclosed peer group does not include Broadmark Realty Capital. Filing ↗
26Section 10a, BrightSpire Capital Inc reciprocityDEF 14A0001717547-26-000026BrightSpire Capital Inc's most recent proxy was read; its disclosed peer group does not include Broadmark Realty Capital. Filing ↗
27Section 10a, Global Medical REIT Inc reciprocityDEF 14A0001104659-26-040956Global Medical REIT Inc's most recent proxy was read; its disclosed peer group does not include Broadmark Realty Capital. Filing ↗
28Section 10a, Granite Point Mortgage Trust Inc reciprocityDEF 14A0001104659-26-045496Granite Point Mortgage Trust Inc's most recent proxy was read; its disclosed peer group does not include Broadmark Realty Capital. Filing ↗
29Section 10a, Guild Holdings Co reciprocityDEF 14A0001821160-25-000020Guild Holdings Co's most recent proxy was read; its disclosed peer group does not include Broadmark Realty Capital. Filing ↗
30Section 10a, Ladder Capital Corp reciprocityDEF 14A0001577670-26-000018Ladder Capital Corp's most recent proxy was read; its disclosed peer group does not include Broadmark Realty Capital. Filing ↗
31Section 10a, MFA Financial Inc reciprocityDEF 14A0001140361-26-015388MFA Financial Inc's most recent proxy was read; its disclosed peer group does not include Broadmark Realty Capital. Filing ↗
32Section 10a, NETSTREIT Corp reciprocityDEF 14A0001628280-26-022557NETSTREIT Corp's most recent proxy was read; its disclosed peer group does not include Broadmark Realty Capital. Filing ↗
33Section 10a, New York Mortgage Trust Inc reciprocityDEF 14A0001273685-26-000038New York Mortgage Trust Inc's most recent proxy was read; its disclosed peer group does not include Broadmark Realty Capital. Filing ↗
34Section 10a, One Liberty Properties, Inc reciprocityDEF 14A0001140361-26-015499One Liberty Properties, Inc's most recent proxy was read; its disclosed peer group does not include Broadmark Realty Capital. Filing ↗
35Section 10a, Plymouth Industrial REIT, Inc reciprocityDEF 14A0001171520-25-000158Plymouth Industrial REIT, Inc's most recent proxy was read; its disclosed peer group does not include Broadmark Realty Capital. Filing ↗
36Section 10a, Redwood Trust Inc reciprocityDEF 14A0000930236-26-000011Redwood Trust Inc's most recent proxy was read; its disclosed peer group does not include Broadmark Realty Capital. Filing ↗
37Section 10a, Velocity Financial Inc reciprocityDEF 14A0001193125-26-150488Velocity Financial Inc's most recent proxy was read; its disclosed peer group does not include Broadmark Realty Capital. Filing ↗