Companies Blaize Holdings, Inc.
Blaize (BZAI): executive pay, fiscal 2025
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CEO pay, last three years
- $1,637,167FY2023
- $4,394,285FY2024
- $23,064,608FY2025
CEO total pay was $23,064,608 in fiscal 2025, up from $4,394,285 in fiscal 2024.
FY2025: salary $556,058 · bonus $0 · stock awards $22,508,550 · option awards $0
Executives and directors
Frequently asked questions
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.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Dinakar Munagala | $556,058 | $0 | $22,508,550 | $0 | $0 | $0 | $0 | $23,064,608 |
| Chief Executive Officer | ||||||||
| Harminder Sehmi | 411,079 | 0 | 3,449,316 | 409,772 | 0 | 0 | 0 | 4,270,167 |
| 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 officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Dinakar Munagala | $23,064,608 | $4,394,285 | $1,637,167 | ↑ +18,670,323 |
| Harminder Sehmi | 4,270,167 | 1,402,792 | — | ↑ +2,867,375 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
The base salary is intended to provide a fixed component of compensation reflecting the executive’s skill set, experience, role and responsibilities. The Company provides a 401(k) plan and standard employee benefits to add to the overall desirability of the executive compensation package and incentivize employees in accordance with its compensation policies.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Harminder Sehmi | OPTION | 2025-01-13 | — | — | 774,236 | — | — |
| Harminder Sehmi | OPTION | 2025-09-01 | — | — | 200,000 | — | 409,772 |
| Harminder Sehmi | OPTION | 2025-01-13 | — | — | 862,915 | — | — |
| Dinakar Munagala | RSU | 2025-06-24 | — | — | 2,421,971 | — | 6,224,465 |
| Dinakar Munagala | OPTION | 2025-01-13 | — | — | 176,503 | — | — |
| Dinakar Munagala | OPTION | 2025-01-13 | — | — | 114,650 | — | — |
| Dinakar Munagala | OPTION | 2025-01-13 | — | — | 4,150,347 | — | — |
| Harminder Sehmi | OPTION | 2025-01-13 | — | — | 29,436 | — | — |
| Dinakar Munagala | OPTION | 2025-01-13 | — | — | 5,755,192 | — | — |
| Harminder Sehmi | RSU | 2025-06-24 | — | — | 362,081 | — | 930,548 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Harminder Sehmi | $930,548 | $0 | $409,772 | 0.0% |
| Dinakar Munagala | 6,224,465 | 0 | 0 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Dinakar Munagala | Option | 1,037,587 | 0.57 | — |
| Dinakar Munagala | PSU | 1,376,229 | — | 22,363,721 |
| Dinakar Munagala | RSU | 2,421,971 | — | 39,357,028 |
| Dinakar Munagala | Option | 3,037,462 | 1.18 | — |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Lane M. BessNot independent · Board Chair | $120,000 | $15,365,884 | — | — | — | $15,485,884 |
| Edward FrankIndependent · Lead Independent Director · Audit · Compensation (Chair) | 156,000 | 1,882,739 | — | — | — | 2,038,739 |
| Anthony CannestraIndependent · Audit · Compensation · Nominating and Corporate Governance (Chair) | 110,000 | 1,885,564 | — | — | — | 1,995,564 |
| Juergen HambrechtIndependent · Departed during FY | 80,000 | 1,882,739 | — | — | — | 1,962,739 |
| George de UriosteIndependent · Audit (Chair) · Compensation · Nominating and Corporate Governance | 118,000 | 450,526 | — | — | — | 568,526 |
| Yoshiaki FujimoriIndependent | 80,000 | 450,526 | — | — | — | 530,526 |
Board fee structure and ownership guideline
| Annual cash retainer | $80,000 |
|---|---|
| Annual equity retainer | $200,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 24,000 / 20,000 |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $664,000 |
| Equity awards (grant-date value) | $21,917,978 |
| All other compensation | $0 |
| Total cost of the board | $22,581,978 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Blaize as a peer
Companies that benchmark against BZAI
1 company names BZAI as a compensation peer
- QUICKLOGIC CorpQUIKFY2026
Each company listed discloses BZAI 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 BZAI in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
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.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Blaize Holdings, Inc. | 2025 | Dinakar Munagala | $556,058 | $22,508,550 | $0 | $0 | $23,064,608 |
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.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2025 | 2025-12-03 | — | — | — | — | — |
| 2024 | 2024-12-09 | — | — | — | — | — |
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 year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2025 | 2025-12-03 | —a |
| 2024 | 2024-12-09 | —b |
a. Voting standard not stated in the filing.
b. 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.
CEO pay ratio
| Ratio (CEO : median employee) | 10 : 1 |
|---|---|
| CEO total compensation | $168,298 |
| Median employee compensation | $16,000 |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (25 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Dinakar Munagala. DEF 14A, filed 2026-11-02. Section “Executive Compensation”. As printed: 23,064,608. View filing ↗
- Section 01, Harminder Sehmi. DEF 14A, filed 2026-11-02. Section “Executive Compensation”. As printed: 4,270,167. View filing ↗
- Section 03, Harminder Sehmi OPTION. DEF 14A, filed 2026-11-02. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Harminder Sehmi OPTION. DEF 14A, filed 2026-11-02. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Harminder Sehmi OPTION. DEF 14A, filed 2026-11-02. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Dinakar Munagala RSU. DEF 14A, filed 2026-11-02. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Dinakar Munagala OPTION. DEF 14A, filed 2026-11-02. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Dinakar Munagala OPTION. DEF 14A, filed 2026-11-02. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Dinakar Munagala OPTION. DEF 14A, filed 2026-11-02. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Harminder Sehmi OPTION. DEF 14A, filed 2026-11-02. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Dinakar Munagala OPTION. DEF 14A, filed 2026-11-02. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Harminder Sehmi RSU. DEF 14A, filed 2026-11-02. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-11-02. Section “CEO Pay Ratio”. As printed: 10 : 1. View filing ↗
- Section 08, Lane M. Bess. DEF 14A, filed 2026-11-02. Section “Director Compensation”. As printed: 15,485,884. View filing ↗
- Section 08, Edward Frank. DEF 14A, filed 2026-11-02. Section “Director Compensation”. As printed: 2,038,739. View filing ↗
- Section 08, Anthony Cannestra. DEF 14A, filed 2026-11-02. Section “Director Compensation”. As printed: 1,995,564. View filing ↗
- Section 08, Juergen Hambrecht. DEF 14A, filed 2026-11-02. Section “Director Compensation”. As printed: 1,962,739. View filing ↗
- Section 08, George de Urioste. DEF 14A, filed 2026-11-02. Section “Director Compensation”. As printed: 568,526. View filing ↗
- Section 08, Yoshiaki Fujimori. DEF 14A, filed 2026-11-02. Section “Director Compensation”. As printed: 530,526. View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-12-04. Item 5.07 · say-on-pay result. As reported: —. View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-12-12. Item 5.07 · say-on-pay result. As reported: —. View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 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).
- Section 09b board cost (computed). Computed. Cash 664,000 + equity 21,917,978 + all other 0 = 22,581,978, summed across the director compensation table rows.
- Blaize Holdings, Inc. (subject), Section 10b CEO total. DEF 14A, filed 2026-11-02. CEO total compensation as printed in Blaize Holdings, Inc.'s own proxy. As printed: 23,064,608. View filing ↗