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.
Each company listed discloses FLY 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 FLY in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Jason Kim | $488,462 | $500,000 | $36,053,338 | $1,134,849 | $0 | $0 | $42,866 | $38,219,515 |
| Chief Executive Officer | ||||||||
| Darren Ma | 408,308 | 252,000 | 9,048,737 | 1,613,963 | 0 | 0 | 3,433 | 11,326,441 |
| Chief Financial Officer | ||||||||
| Ramon Sanchez | 13,077 | 175,000 | 11,122,197 | 0 | 0 | 0 | 1,635 | 11,311,909 |
| Chief Operating 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.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Jason Kim | $38,219,515 | $2,244,074 | — | +35,975,441 |
| Darren Ma | 11,326,441 | 581,223 | — | +10,745,218 |
| Ramon Sanchez | 11,311,909 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| David Leigh Wheeler | General Counsel | 2026-04-17 | D | 3,766 | $45 | $169,608 | Common, open-market sale | Form 4 ↗ |
| David Leigh Wheeler | General Counsel | 2026-04-17 | A | 3,766 | 2 | 8,702 | Common | Form 4 ↗ |
| David Leigh Wheeler | General Counsel | 2026-04-17 | D | 3,766 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| David Leigh Wheeler | General Counsel | 2026-05-18 | D | 3,765 | 45 | 169,885 | Common, open-market sale | Form 4 ↗ |
| David Leigh Wheeler | General Counsel | 2026-05-18 | A | 3,765 | 2 | 8,699 | Common | Form 4 ↗ |
| David Leigh Wheeler | General Counsel | 2026-05-18 | D | 3,765 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| AEROEQUITY GP, LLC | Greater-than-10% holder | 2026-06-01 | D | 2,801,128 | 48 | 134,454,144 | Common, indirect | Form 4 ↗ |
| AEROEQUITY GP, LLC | Greater-than-10% holder | 2026-06-01 | D | 5,198,872 | 48 | 249,545,856 | Common, indirect | Form 4 ↗ |
| Kirk Konert | Director | 2026-06-04 | A | 3,630 | 0 | 0 | Common | Form 4 ↗ |
| Thomas Zurbuchen | Director | 2026-06-04 | A | 3,630 | 0 | 0 | Common | Form 4 ↗ |
| Christopher Emerson | Director | 2026-06-04 | A | 3,630 | 0 | 0 | Common | Form 4 ↗ |
| Kevin McAllister | Director | 2026-06-04 | A | 3,630 | 0 | 0 | Common | Form 4 ↗ |
| Pamela Braden | Director | 2026-06-04 | A | 3,630 | 0 | 0 | Common | Form 4 ↗ |
| Jon Lusczakoski | Director | 2026-06-04 | A | 3,630 | 0 | 0 | Common | Form 4 ↗ |
| Ryan Boland | Director | 2026-06-04 | A | 3,630 | 0 | 0 | Common | Form 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.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Darren Ma | PSU | — | — | — | — | — | $9,048,737 |
| Jason Kim | Option | — | — | — | — | — | 1,134,849 |
| Ramon Sanchez | PSU | — | — | — | — | — | 11,122,197 |
| Jason Kim | PSU | — | — | — | — | — | 36,053,338 |
| Darren Ma | Option | — | — | — | — | — | 1,613,963 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Darren Ma | $0 | $9,048,737 | $1,613,963 | 84.9% |
| Jason Kim | 0 | 36,053,338 | 1,134,849 | 96.9% |
| Ramon Sanchez | 0 | 11,122,197 | 0 | 100.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Ramon Sanchez | RSU | 100,000 | — | $2,237,000 |
| Jason Kim | RSU | 888,889 | — | 19,884,447 |
| Ramon Sanchez | RSU | 228,833 | — | 5,118,994 |
| Darren Ma | RSU | 222,222 | — | 4,971,106 |
| Darren Ma | RSU | 768 | — | 17,180 |
| CEO STI target (% of salary) | 100% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | True |
| Anti-hedging | True |
| Anti-pledging | True |
| Ratio (CEO : median employee) | — |
|---|---|
| CEO total compensation | — |
| Median employee compensation | — |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Kirk KonertIndependent · Board Chair · Compensation Committee | $104,946 | $0 | — | — | $0 | $104,946 |
| Thomas ZurbuchenIndependent · Nominating and Corporate Governance Committee | 86,708 | 0 | 10,835 | — | 0 | 97,543 |
| Christopher EmersonIndependent · Audit Committee · Nominating and Corporate Governance Committee | 69,973 | 0 | — | — | 0 | 69,973 |
| Ryan BolandIndependent · Audit Committee (Chair) | 59,946 | 0 | — | — | 0 | 59,946 |
| Kevin McAllisterIndependent · Compensation Committee | 54,946 | 0 | — | — | 0 | 54,946 |
| Jon LusczakoskiIndependent · Compensation Committee | 39,946 | 0 | — | — | 0 | 39,946 |
| Pamela BradenIndependent · Audit Committee | 39,946 | 0 | — | — | 0 | 39,946 |
| Marc WeiserIndependent · Compensation Committee · Departed during FY | 39,946 | 0 | — | — | 0 | 39,946 |
| Jed McCalebNot independent · Departed during FY | 0 | 0 | 0 | — | 0 | 0 |
| Thomas MarkusicNot independent · Departed during FY | 0 | 0 | 0 | — | 0 | 0 |
| Jason KimEmployee director | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | — |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 50,000 / 15,000 |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $496,357 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $0 |
| Total cost of the board | $496,357 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
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 | Firefly Aerospace | 2025 | Jason Kim | $488,462 | $36,053,338 | $1,134,849 | $0 | $38,219,515 |
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.
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.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Jason Kim | DEF 14A | 2026-04-17 | 0001193125-26-161474 | Section “Summary Compensation Table” · page 17. As printed: 38,219,515. Filing ↗machine: t5 · r2 · c18 · span 333323–333333 |
| 2 | Section 01, Darren Ma | DEF 14A | 2026-04-17 | 0001193125-26-161474 | Section “Summary Compensation Table” · page 17. As printed: 11,326,441. Filing ↗machine: t5 · r4 · c18 · span 347859–347869 |
| 3 | Section 01, Ramon Sanchez | DEF 14A | 2026-04-17 | 0001193125-26-161474 | Section “Summary Compensation Table” · page 17. As printed: 11,311,909. Filing ↗machine: t5 · r6 · c18 · span 362570–362580 |
| 4 | Section 03, Darren Ma PSU | DEF 14A | 2026-04-17 | 0001193125-26-161474 | Section “EXECU TIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t5 · r4 · c9 · span 344442–344451 |
| 5 | Section 03, Jason Kim Option | DEF 14A | 2026-04-17 | 0001193125-26-161474 | Section “EXECU TIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t5 · r2 · c11 · span 330652–330661 |
| 6 | Section 03, Ramon Sanchez PSU | DEF 14A | 2026-04-17 | 0001193125-26-161474 | Section “EXECU TIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t5 · r6 · c9 · span 359153–359163 |
| 7 | Section 03, Jason Kim PSU | DEF 14A | 2026-04-17 | 0001193125-26-161474 | Section “EXECU TIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t5 · r2 · c9 · span 329904–329914 |
| 8 | Section 03, Darren Ma Option | DEF 14A | 2026-04-17 | 0001193125-26-161474 | Section “EXECU TIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t5 · r4 · c11 · span 345189–345198 |
| 9 | Section 07, pay ratio | 10-K | 2026-03-20 | 0001193125-26-116309 | Section “CEO Pay Ratio”. As printed: —. Filing ↗ |
| 10 | Section 08, Kirk Konert | DEF 14A | 2026-04-17 | 0001193125-26-161474 | Section “Director Compensation”. As printed: 104,946. Filing ↗machine: t7 · r2 · c2 · span 544110–544117 |
| 11 | Section 08, Thomas Zurbuchen | DEF 14A | 2026-04-17 | 0001193125-26-161474 | Section “Director Compensation”. As printed: 97,543. Filing ↗machine: t7 · r5 · c6 · span 554310–554316 |
| 12 | Section 08, Christopher Emerson | DEF 14A | 2026-04-17 | 0001193125-26-161474 | Section “Director Compensation”. As printed: 69,973. Filing ↗machine: t7 · r4 · c2 · span 549918–549924 |
| 13 | Section 08, Ryan Boland | DEF 14A | 2026-04-17 | 0001193125-26-161474 | Section “Director Compensation”. As printed: 59,946. Filing ↗machine: t7 · r9 · c2 · span 564428–564434 |
| 14 | Section 08, Kevin McAllister | DEF 14A | 2026-04-17 | 0001193125-26-161474 | Section “Director Compensation”. As printed: 54,946. Filing ↗machine: t7 · r7 · c2 · span 558626–558632 |
| 15 | Section 08, Jon Lusczakoski | DEF 14A | 2026-04-17 | 0001193125-26-161474 | Section “Director Compensation”. As printed: 39,946. Filing ↗machine: t7 · r8 · c2 · span 561529–561535 |
| 16 | Section 08, Pamela Braden | DEF 14A | 2026-04-17 | 0001193125-26-161474 | Section “Director Compensation”. As printed: 39,946. Filing ↗machine: t7 · r6 · c2 · span 555722–555728 |
| 17 | Section 08, Marc Weiser | DEF 14A | 2026-04-17 | 0001193125-26-161474 | Section “Director Compensation”. As printed: 39,946. Filing ↗machine: t7 · r3 · c2 · span 547011–547017 |
| 18 | Section 08, Jed McCaleb | DEF 14A | 2026-04-17 | 0001193125-26-161474 | Section “Director Compensation”. As printed: 0. Filing ↗machine: t7 · r10 · c6 · span 568631–568632 |
| 19 | Section 08, Thomas Markusic | DEF 14A | 2026-04-17 | 0001193125-26-161474 | Section “Director Compensation”. As printed: 0. Filing ↗machine: t7 · r11 · c6 · span 571536–571537 |
| 20 | Section 08, Jason Kim | DEF 14A | 2026-04-17 | 0001193125-26-161474 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 21 | Section 02, David Leigh Wheeler 2026-04-17 | Form 4 | 2026-04-20 | 0001193125-26-164616 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 22 | Section 02, David Leigh Wheeler 2026-04-17 | Form 4 | 2026-04-20 | 0001193125-26-164616 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 23 | Section 02, David Leigh Wheeler 2026-04-17 | Form 4 | 2026-04-20 | 0001193125-26-164616 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 24 | Section 02, David Leigh Wheeler 2026-05-18 | Form 4 | 2026-05-19 | 0001193125-26-231242 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 25 | Section 02, David Leigh Wheeler 2026-05-18 | Form 4 | 2026-05-19 | 0001193125-26-231242 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 26 | Section 02, David Leigh Wheeler 2026-05-18 | Form 4 | 2026-05-19 | 0001193125-26-231242 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 27 | Section 02, AEROEQUITY GP, LLC 2026-06-01 | Form 4 | 2026-06-03 | 0001193125-26-255718 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 28 | Section 02, AEROEQUITY GP, LLC 2026-06-01 | Form 4 | 2026-06-03 | 0001193125-26-255718 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 29 | Section 02, Kirk Konert 2026-06-04 | Form 4 | 2026-06-08 | 0001193125-26-260765 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 30 | Section 02, Thomas Zurbuchen 2026-06-04 | Form 4 | 2026-06-08 | 0001193125-26-260774 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 31 | Section 02, Christopher Emerson 2026-06-04 | Form 4 | 2026-06-08 | 0001193125-26-260772 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 32 | Section 02, Kevin McAllister 2026-06-04 | Form 4 | 2026-06-08 | 0001193125-26-260779 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 33 | Section 02, Pamela Braden 2026-06-04 | Form 4 | 2026-06-08 | 0001193125-26-260768 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 34 | Section 02, Jon Lusczakoski 2026-06-04 | Form 4 | 2026-06-08 | 0001193125-26-260766 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 35 | Section 02, Ryan Boland 2026-06-04 | Form 4 | 2026-06-08 | 0001193125-26-260769 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 36 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 37 | Section 03b vehicle mix (computed) | 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 |
| 38 | Section 09b board cost (computed) | Computed | — | computed | Cash 496,357 + equity 0 + all other 0 = 496,357, summed across the director compensation table rows.machine: formula: Σ = 496,357 |
| 39 | Firefly Aerospace (subject), Section 10b CEO total | DEF 14A | 2026-04-17 | 0001193125-26-161474 | CEO total compensation as printed in Firefly Aerospace's own proxy. As printed: 38,219,515. Filing ↗machine: t5 · r2 · c18 · span 333323–333333 |