Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-18

Fluent, Inc. (FLNT)

CEO Donald Patrick was paid $1,509,212 in fiscal year 2025, ↑ up 69.6% from fiscal year 2024 (SEC filing 0001437749-26-014994 ↗): 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.

$1,509,212 ↑
Donald Patrick total, FY2025
—
CEO pay percentile vs peers
—
CEO-to-median pay ratio
98.25%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Donald Patrick ((Chief Executive Officer)), FY2025 total compensation $1,509,212 (base salary $301,378) [exec_comp, SEC accession 0001437749-26-014994, filed 2026-05-06]

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FLNT's next annual pay disclosure, estimated May 6, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Donald Patrick$301,378$0$1,183,027$0$12,752$0$12,055$1,509,212
(Chief Executive Officer)
Ryan Perfit376,7230537,600012,752013,372940,447
(Chief Financial Officer)
Matthew Conlin301,37800012,752012,055326,185
(Chief Customer Officer)
Ryan Schulke301,37800012,75209,544323,674
(Chief Strategy 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
Donald Patrick$1,509,212$889,788—↑ +619,424
Ryan Perfit940,447658,040—↑ +282,407
Matthew Conlin326,185605,187—↓ −279,002
Ryan Schulke323,674602,560—↓ −278,886

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 FLNT
2 companies name FLNT as a compensation peer

Each company listed discloses FLNT 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 FLNT in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

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
Donald PatrickRSU2025-10-09——222,000——
Ryan PerfitRSU2025-10-09——112,000——
Ryan PerfitPSU2025-10-09—112,000——271,040
Donald PatrickPSU2025-10-09—222,000——654,667
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Donald Patrick$0$654,667$0100.0%
Ryan Perfit0271,0400100.0%

% 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
Ryan PerfitPSU112,000—$268,800
Donald PatrickRSU25,528—61,267
Donald PatrickRSU222,000—532,800
Donald PatrickPSU222,000—532,800
Ryan PerfitRSU112,000—268,800
Donald PatrickRSU51,056—122,534
Matthew ConlinRSU16,667—40,000
05

Incentive-plan design — the Compensation Discussion & Analysis

The Company's compensation program is designed to attract and retain competent and dedicated individuals whose efforts will result in the long-term growth and profitability of the Company, while strengthening the commitment of such individuals to the Company and motivating them to faithfully and diligently perform their responsibilities.

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
20262026-06-1720,724,713369,2039,06298.25%Passed
20252025-06-185,990,687119,94457,74898.04%Passed
20232023-05-0523,455,2901,074,489209,40395.62%Passed
20222022-06-0832,334,9114,667,580139,66587.39%Passed
20212021-06-0241,102,4351,397,390118,34696.71%Passed
20202020-06-0350,870,7932,095,363152,37696.04%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
20262026-06-1798.25%a
20252025-06-1898.04%b
20232023-05-0595.62%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 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Donald MathisIndependent · Board Chair · Lead Independent Director · Audit · Compensation · Nominating/Governance$70,000$75,000$0$0$0$145,000
Barbara Shattuck KohnIndependent · Audit · Compensation · Nominating/Governance50,00075,000000125,000
Richard C. Pfenniger JrIndependent · Nominating/Governance · Audit · Compensation45,00075,000000120,000
David A. GraffIndependent · Audit · Compensation · Nominating/Governance40,00075,000000115,000
James P. GeyganIndependent · Audit38,22275,000000113,222
Matthew ConlinEmployee director—————0
09

Board fee structure and ownership guideline

Annual cash retainer$40,000
Annual equity retainer$75,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)10,000 / 5,000 / 5,000
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$243,222
Equity awards (grant-date value)$375,000
All other compensation$0
Total cost of the board$618,222

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
1Fluent, Inc.2025Donald Patrick$301,378$1,183,027$0$12,752$1,509,212

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 Fluent, Inc. in fiscal 2025?
As disclosed, Donald Patrick ((Chief Executive Officer)) was the highest-paid executive at Fluent, Inc. in fiscal 2025, with total compensation of $1,509,212.
How did shareholders vote on Fluent, Inc.'s executive compensation?
As disclosed, 98.25% of shareholders supported Fluent, Inc.'s executive compensation in the latest say-on-pay vote.
How much does Fluent, Inc. spend in total on board compensation for fiscal 2025?
As disclosed, Fluent, Inc. reported total board compensation of $618,222 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, Donald PatrickDEF 14A2026-05-060001437749-26-014994Section “Executive Compensation”. As printed: 1,509,212. Filing ↗machine: r1 · c31 · span 539113–539122
2Section 01, Ryan PerfitDEF 14A2026-05-060001437749-26-014994Section “Executive Compensation”. As printed: 940,447. Filing ↗machine: r10 · c31 · span 580513–580520
3Section 01, Matthew ConlinDEF 14A2026-05-060001437749-26-014994Section “Executive Compensation”. As printed: 326,185. Filing ↗machine: r7 · c31 · span 566765–566772
4Section 01, Ryan SchulkeDEF 14A2026-05-060001437749-26-014994Section “Executive Compensation”. As printed: 323,674. Filing ↗machine: r4 · c31 · span 553015–553022
5Section 03, Donald Patrick RSUDEF 14A2026-05-060001437749-26-014994Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
6Section 03, Ryan Perfit RSUDEF 14A2026-05-060001437749-26-014994Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
7Section 03, Ryan Perfit PSUDEF 14A2026-05-060001437749-26-014994Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
8Section 03, Donald Patrick PSUDEF 14A2026-05-060001437749-26-014994Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
9Section 08, Donald MathisDEF 14A2026-05-060001437749-26-014994Section “Director Compensation”. As printed: 145,000. Filing ↗machine: span 264524–264531
10Section 08, Barbara Shattuck KohnDEF 14A2026-05-060001437749-26-014994Section “Director Compensation”. As printed: 125,000. Filing ↗machine: span 268874–268881
11Section 08, Richard C. Pfenniger JrDEF 14A2026-05-060001437749-26-014994Section “Director Compensation”. As printed: 120,000. Filing ↗machine: span 277560–277567
12Section 08, David A. GraffDEF 14A2026-05-060001437749-26-014994Section “Director Compensation”. As printed: 115,000. Filing ↗machine: span 273214–273221
13Section 08, James P. GeyganDEF 14A2026-05-060001437749-26-014994Section “Director Compensation”. As printed: 113,222. Filing ↗machine: span 281901–281908
14Section 08, Matthew ConlinDEF 14A2026-05-060001437749-26-014994Section “Director Compensation”. As printed: 0. Filing ↗
15Section 06, 2026 voteForm 8-K2026-06-180001437749-26-021019Item 5.07 · say-on-pay result. As reported: 98.25% (votes for as printed: 20,724,713). Filing ↗
16Section 06, 2025 voteForm 8-K2025-06-200001437749-25-020948Item 5.07 · say-on-pay result. As reported: 98.04% (votes for as printed: 5,990,687). Filing ↗
17Section 06, 2023 voteForm 8-K2023-06-090001437749-23-017019Item 5.07 · say-on-pay result. As reported: 95.62% (votes for as printed: 23,455,290). Filing ↗
18Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
19Section 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
20Section 09b board cost (computed)Computed——Cash 243,222 + equity 375,000 + all other 0 = 618,222, summed across the director compensation table rows.machine: formula: Σ = 618,222
21Fluent, Inc. (subject), Section 10b CEO totalDEF 14A2026-05-060001437749-26-014994CEO total compensation as printed in Fluent, Inc.'s own proxy. As printed: 1,509,212. Filing ↗machine: r1 · c31 · span 539113–539122

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