Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-08

Digimarc (DMRC)

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.

$2,896,750
Carle Quinn total, FY2025
Executive Vice President, Chief Operating Officerhighest-paid officer; CEO Riley McCormack: $2,449,771
73rd
CEO (Riley McCormack) pay percentile vs peers
11.7:1
CEO-to-median pay ratio
89.89%
Say-on-pay support, latest vote
Companies that benchmark against DMRC
5 companies name DMRC as a compensation peer

Each company listed discloses DMRC 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 DMRC 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
Carle Quinn$364,583$0$2,356,131$0$168,000$0$8,036$2,896,750
Executive Vice President, Chief Operating Officer
Riley McCormack415,00001,662,9310371,840002,449,771
Chief Executive Officer & President
Charles Beck375,0000810,4850168,000011,9091,365,394
Executive Vice President, Chief Financial Officer, Treasurer and Secretary
George Karamanos375,0000692,8030168,000049,8501,285,653
Former Executive Vice President, Chief Legal Officer and Secretary
Tony Rodriguez325,0000690,6530145,600001,161,253
Executive Vice President, Chief Technology 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 FY20242025
Carle Quinn$2,896,750
Riley McCormack2,449,7712,350,618
Charles Beck1,365,3941,086,449
George Karamanos1,285,653
Tony Rodriguez1,161,253962,405

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
Riley McCormackDirector2026-05-19A1,050,000$0$0Derivative, Class A CommonForm 4 ↗
Riley McCormackDirector2026-05-19A5,1031050,009Derivative, Class A CommonForm 4 ↗
Dividend-equivalent accruals2026-05-211,500~6,0251 insider, 3 accrual rows
Carle QuinnEVP, Chief Operating Officer2026-06-01A11,99116197,012CommonForm 4 ↗
Tony RodriguezEVP, Chief Technology Officer2026-06-01A10,39316170,757CommonForm 4 ↗
Carle QuinnEVP, Chief Operating Officer2026-06-15A3,126721,257CommonForm 4 ↗
Charles BeckEVP, Chief Financial Officer2026-06-15A2,767718,816CommonForm 4 ↗
Riley McCormackDirector2026-06-16D3,5121138,492Common, indirectForm 4 ↗
Riley McCormackDirector2026-06-16D15,00310150,726Common, indirectForm 4 ↗
Riley McCormackDirector2026-06-16D69,36311751,458Common, indirectForm 4 ↗
Riley McCormackDirector2026-06-16D2,275,737Common, indirectForm 4 ↗
Riley McCormackDirector2026-06-16D27,0719256,151Common, indirectForm 4 ↗
Dana McilwainDirector2026-07-01A98888,121CommonForm 4 ↗
Michael ParkDirector2026-07-01A76086,247CommonForm 4 ↗
LaShonda Anderson-WilliamsDirector2026-07-01A98888,121CommonForm 4 ↗
Sandeep DadlaniDirector2026-07-01A1,520812,494CommonForm 4 ↗
Riley McCormackDirector2026-07-05A64,14600CommonForm 4 ↗
Paul CarreiroChief Executive Officer2026-07-06A1,060,00000Derivative, Class A CommonForm 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.

View all 20 transactions
InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Riley McCormackDirector2026-05-19A1,050,000$0$0Derivative, Class A CommonForm 4 ↗
Riley McCormackDirector2026-05-19A5,1031050,009Derivative, Class A CommonForm 4 ↗
Riley McCormackDirector2026-05-21A500126,025Derivative, Class A CommonForm 4 ↗
Riley McCormackDirector2026-05-21D50000Derivative, Class A CommonForm 4 ↗
Riley McCormackDirector2026-05-21A50000Derivative, Class A CommonForm 4 ↗
Carle QuinnEVP, Chief Operating Officer2026-06-01A11,99116197,012CommonForm 4 ↗
Tony RodriguezEVP, Chief Technology Officer2026-06-01A10,39316170,757CommonForm 4 ↗
Carle QuinnEVP, Chief Operating Officer2026-06-15A3,126721,257CommonForm 4 ↗
Charles BeckEVP, Chief Financial Officer2026-06-15A2,767718,816CommonForm 4 ↗
Riley McCormackDirector2026-06-16D3,5121138,492Common, indirectForm 4 ↗
Riley McCormackDirector2026-06-16D15,00310150,726Common, indirectForm 4 ↗
Riley McCormackDirector2026-06-16D69,36311751,458Common, indirectForm 4 ↗
Riley McCormackDirector2026-06-16D2,275,737Common, indirectForm 4 ↗
Riley McCormackDirector2026-06-16D27,0719256,151Common, indirectForm 4 ↗
Dana McilwainDirector2026-07-01A98888,121CommonForm 4 ↗
Michael ParkDirector2026-07-01A76086,247CommonForm 4 ↗
LaShonda Anderson-WilliamsDirector2026-07-01A98888,121CommonForm 4 ↗
Sandeep DadlaniDirector2026-07-01A1,520812,494CommonForm 4 ↗
Riley McCormackDirector2026-07-05A64,14600CommonForm 4 ↗
Paul CarreiroChief Executive Officer2026-07-06A1,060,00000Derivative, Class A CommonForm 4 ↗
03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Carle QuinnPSU2025-04-0213,65113,651$179,374
Charles BeckRSU2025-04-0220,478269,081
Riley McCormackPSU2025-04-0297,504195,0081,662,931
Carle QuinnRSA2025-04-0213,65227,304232,835
Charles BeckRSA2025-04-0220,47640,952349,218
Charles BeckPSU2025-04-0214,62614,626192,186
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Carle Quinn$0$179,374$0100.0%
Charles Beck269,081192,186041.7%
Riley McCormack01,662,9310100.0%

% 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
Carle QuinnPSU3,450$22,632
Charles BeckPSU20,476134,323
Charles BeckPSU7004,592
Riley McCormackPSU26,590174,430
Carle QuinnPSU10,94071,766
Tony RodriguezPSU17,356113,855
Carle QuinnPSU13,65289,557
Riley McCormackPSU97,504639,626
Charles BeckPSU16,410107,650
Charles BeckPSU4,75031,160
Carle QuinnPSU6,37441,813
Tony RodriguezPSU13,91091,250
Tony RodriguezPSU1,85012,136
Tony RodriguezPSU4,43229,074
George KaramanosPSU6,89445,225
Charles BeckPSU1,98012,989
George KaramanosPSU10,34467,857
Carle QuinnPSU6,89445,225
Carle QuinnPSU104,948688,459
George KaramanosPSU13,29087,182
George KaramanosPSU16,576108,739
Tony RodriguezPSU6534,284
05

Incentive-plan design — the Compensation Discussion & Analysis

Attract, retain, motivate, and appropriately reward the Company's executive officers and align their interests with those of Digimarc shareholders in a way that rewards performance and is aligned with long-term interests.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantF.W. Cook & Co.
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-04-3013,726,7561,543,072157,20789.89%Passed
20252025-05-0711,635,1512,178,18387,33284.23%Passed
20242024-06-0711,887,684889,103139,19493.04%Passed
20232023-05-1011,978,390342,32451,91697.22%Passed
20222022-05-1310,563,563451,12766,90195.9%Passed
20212021-05-058,998,3072,412,236173,02478.86%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
20262026-04-3089.89%a
20252025-05-0784.23%b
20242024-06-0793.04%c

a. Approved under the standard stated in the filing — “Abstentions will be counted as present for purposes of determining the presence of a quorum but will not be considered votes cast on this proposal and will therefore have no effect on the outcome of the vote.”.

b. Approved under the standard stated in the filing — “Abstentions and broker non-votes count as being present for purposes of determining whether a quorum of shares is present at a meeting but are not counted for purposes of determining the number of votes cast for or against a proposal.”.

c. Approved under the standard stated in the filing — “Abstentions and broker non-votes count as being present for purposes of determining whether a quorum of shares is present at a meeting but are not counted for purposes of determining the number of votes cast for or against a proposal.”.

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)11.7 : 1
CEO total compensation$2,449,771
Median employee compensation$210,175
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Rishi BajajIndependent · Audit · Governance, Nominating, and Sustainability · Newly elected$21,289$277,290$0$0$0$298,579
Katie KoolIndependent · Board Chair · Audit · Compensation and Talent Management90,000100,001000190,001
Sheila ChestonIndependent · Audit · Governance, Nominating, and Sustainability (Chair) · Compensation and Talent Management65,000100,001000165,001
Dana McilwainIndependent · Audit (Chair) · Governance, Nominating, and Sustainability65,000100,001000165,001
LaShonda Anderson-WilliamsIndependent · Governance, Nominating, and Sustainability · Compensation and Talent Management (Chair)65,000100,001000165,001
Sandeep DadlaniIndependent · Audit50,000100,001000150,001
Michael ParkIndependent · Governance, Nominating, and Sustainability · Compensation and Talent Management50,000100,001000150,001
Riley McCormackEmployee director000000
09

Board fee structure and ownership guideline

Annual cash retainer$50,000
Annual equity retainer$100,001
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)15,000 / 15,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$406,289
Equity awards (grant-date value)$877,296
All other compensation$0
Total cost of the board$1,283,585

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
1Digimarc2025Riley McCormack$415,000$1,662,931$0$371,840$2,449,771

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.

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, Carle QuinnDEF 14A2026-03-240001437749-26-009586Section “2025 SUMMARY COMPENSATION TABLE”. As printed: 2,896,750. Filing ↗machine: span 823276–823285
2Section 01, Riley McCormackDEF 14A2026-03-240001437749-26-009586Section “2025 SUMMARY COMPENSATION TABLE”. As printed: 2,449,771. Filing ↗machine: span 797567–797576
3Section 01, Charles BeckDEF 14A2026-03-240001437749-26-009586Section “2025 SUMMARY COMPENSATION TABLE”. As printed: 1,365,394. Filing ↗machine: span 810312–810321
4Section 01, George KaramanosDEF 14A2026-03-240001437749-26-009586Section “2025 SUMMARY COMPENSATION TABLE”. As printed: 1,285,653. Filing ↗machine: span 832294–832303
5Section 01, Tony RodriguezDEF 14A2026-03-240001437749-26-009586Section “2025 SUMMARY COMPENSATION TABLE”. As printed: 1,161,253. Filing ↗machine: span 844644–844653
6Section 03, Carle Quinn PSUDEF 14A2026-03-240001437749-26-009586Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
7Section 03, Charles Beck RSUDEF 14A2026-03-240001437749-26-009586Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
8Section 03, Riley McCormack PSUDEF 14A2026-03-240001437749-26-009586Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t242 · r3 · c34 · span 877382–877391
9Section 03, Carle Quinn RSADEF 14A2026-03-240001437749-26-009586Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t250 · r11 · c13 · span 1007373–1007379
10Section 03, Charles Beck RSADEF 14A2026-03-240001437749-26-009586Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t250 · r6 · c13 · span 993375–993381
11Section 03, Charles Beck PSUDEF 14A0001437749-26-009586Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
12Section 07, pay ratioDEF 14A2026-03-240001437749-26-009586Section “CEO Pay Ratio”. As printed: 11.7 : 1. Filing ↗
13Section 08, Rishi BajajDEF 14A2026-03-240001437749-26-009586Section “Director Compensation”. As printed: 298,579. Filing ↗machine: t153 · r2 · c11 · span 477151–477158
14Section 08, Katie KoolDEF 14A2026-03-240001437749-26-009586Section “Director Compensation”. As printed: 190,001. Filing ↗machine: t153 · r5 · c11 · span 482962–482969
15Section 08, Sheila ChestonDEF 14A2026-03-240001437749-26-009586Section “Director Compensation”. As printed: 165,001. Filing ↗machine: t153 · r3 · c11 · span 479089–479096
16Section 08, Dana McilwainDEF 14A2026-03-240001437749-26-009586Section “Director Compensation”. As printed: 165,001. Filing ↗machine: t153 · r6 · c11 · span 484899–484906
17Section 08, LaShonda Anderson-WilliamsDEF 14A2026-03-240001437749-26-009586Section “Director Compensation”. As printed: 165,001. Filing ↗machine: t153 · r1 · c11 · span 475156–475163
18Section 08, Sandeep DadlaniDEF 14A2026-03-240001437749-26-009586Section “Director Compensation”. As printed: 150,001. Filing ↗machine: t153 · r4 · c11 · span 481028–481035
19Section 08, Michael ParkDEF 14A2026-03-240001437749-26-009586Section “Director Compensation”. As printed: 150,001. Filing ↗machine: t153 · r7 · c11 · span 486835–486842
20Section 08, Riley McCormackDEF 14A2026-03-240001437749-26-009586Section “Director Compensation”. As printed: 0. Filing ↗
21Section 02, Riley McCormack 2026-05-19Form 42026-05-200001437749-26-017888Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Riley McCormack 2026-05-19Form 42026-05-200001437749-26-017888Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Riley McCormack 2026-05-21Form 42026-05-210001437749-26-018168Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Riley McCormack 2026-05-21Form 42026-05-210001437749-26-018168Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Riley McCormack 2026-05-21Form 42026-05-210001437749-26-018168Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Carle Quinn 2026-06-01Form 42026-06-020001437749-26-019137Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Tony Rodriguez 2026-06-01Form 42026-06-020001437749-26-019139Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Carle Quinn 2026-06-15Form 42026-06-160001437749-26-020847Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Charles Beck 2026-06-15Form 42026-06-160001437749-26-020849Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Riley McCormack 2026-06-16Form 42026-06-180000905148-26-002995Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Riley McCormack 2026-06-16Form 42026-06-180000905148-26-002995Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Riley McCormack 2026-06-16Form 42026-06-180000905148-26-002995Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Riley McCormack 2026-06-16Form 42026-06-180000905148-26-002995Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Riley McCormack 2026-06-16Form 42026-06-180000905148-26-002995Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Dana Mcilwain 2026-07-01Form 42026-07-010001437749-26-022358Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Michael Park 2026-07-01Form 42026-07-010001437749-26-022356Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, LaShonda Anderson-Williams 2026-07-01Form 42026-07-010001437749-26-022362Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Sandeep Dadlani 2026-07-01Form 42026-07-010001437749-26-022360Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Riley McCormack 2026-07-05Form 42026-07-070001437749-26-022959Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Paul Carreiro 2026-07-06Form 42026-07-080001437749-26-022996Insider equity transaction reported since the proxy statement. Filing ↗
41Section 06, 2026 voteForm 8-K2026-04-300001437749-26-014256Item 5.07 · say-on-pay result. As reported: 89.89% (votes for as printed: 13,726,756). Filing ↗
42Section 06, 2025 voteForm 8-K2025-05-080001437749-25-015388Item 5.07 · say-on-pay result. As reported: 84.23% (votes for as printed: 11,635,151). Filing ↗
43Section 06, 2024 voteForm 8-K2024-06-100001437749-24-019792Item 5.07 · say-on-pay result. As reported: 93.04% (votes for as printed: 11,887,684). Filing ↗
44Section 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
45Section 09b board cost (computed)ComputedcomputedCash 406,289 + equity 877,296 + all other 0 = 1,283,585, summed across the director compensation table rows.machine: formula: Σ = 1,283,585
46Digimarc (subject), Section 10b CEO totalDEF 14A2026-03-240001437749-26-009586CEO total compensation as printed in Digimarc's own proxy. As printed: 2,449,771. Filing ↗machine: span 797567–797576