Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-04-10

Solana (HSDT)

CEO Dane Andreeff was paid $2,125,594 in fiscal year 2025, ↑ up 67.4% from fiscal year 2024 (SEC filing 0001104659-26-041970 ↗): 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.

$6,938,212
Joseph Chee total, FY2025
Executive Chairman — highest-paid officer; CEO Dane Andreeff: $2,125,594
—
CEO (Dane Andreeff) pay percentile vs peers
—
CEO-to-median pay ratio
74.53%
Say-on-pay support, latest vote

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HSDT's next annual pay disclosure, estimated April 26, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Joseph Chee$91,304$213,804$6,632,526$0$0$0$578$6,938,212
Executive Chairman
Dane Andreeff419,000890,0000636,456146,650033,4882,125,594
President and Chief Executive Officer
Jeffrey Mathiesen401,000610,0000317,990112,280038,0831,479,353
Chief Financial Officer, Treasurer and Secretary

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
Joseph Chee$6,938,212———
Dane Andreeff2,125,5941,269,4191,635,226↑ +856,175
Jeffrey Mathiesen1,479,353874,0241,058,445↑ +605,329

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 HSDT
No companies currently name HSDT as a compensation peer in their most recent disclosure.

This is the complete answer, not a partial one — the list is never padded.

01b

Executives — the named officers

One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.

ExecutiveRoleFY2025 total
Dane AndreeffCEO$2,125,594
Jeffrey MathiesenCFO$1,479,353
Joseph CheeExecutive Chairman$6,938,212
01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Blane WalterLead Independent Director$123,058
Cosmo JiangDirector—
Edward M. StrawIndependent Director$105,058
Paul BuckmanIndependent Director$108,058
Sherrie PerkinsIndependent Director$94,558
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
Dane AndreeffOption—————$636,456
Jeffrey MathiesenOption—————317,990
Joseph CheeRSU—————6,632,526
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Dane Andreeff$0$0$636,4560.0%
Jeffrey Mathiesen00317,9900.0%
Joseph Chee6,632,526000.0%

% 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
Dane AndreeffRSU138—$11,587
05

Incentive-plan design — the Compensation Discussion & Analysis

The compensation program for the Company’s named executive officers for 2025 had three primary components: base salary, annual bonus and equity grants. Base salaries are intended to provide a fixed component of compensation reflecting skill sets, experience, roles and responsibilities, while equity-based incentive awards are designed to align the interests of the Company with those of its employees and consultants.

CEO STI target (% of salary)100%
CEO LTI target (% of salary)—
Independent consultantGrant Thornton LLP
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingfalse
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20242024-06-27683,463225,8887,67974.53%Passed
20212021-05-25908,82773,8152,61692.24%Passed
20162016-09-1535,306,20797,549—99.72%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
20242024-06-2774.53%a
20212021-05-2592.24%b
20162016-09-1599.72%c

a. Approved under the standard stated in the filing — “Abstentions will have the same effect as a vote against the matter.”.

b. Approved under the standard stated in the filing — “Abstentions will have the same effect as a vote against the matter.”.

c. Approved under the standard stated in the filing — “Abstentions and broker non-votes will have the same effect as a vote "Against" Proposal 3.”.

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)—
CEO total compensation—
Median employee compensation—
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Blane WalterIndependent · Lead Independent Director · Audit$93,854$0$29,204—$0$123,058
Paul BuckmanIndependent · Audit (Chair) · Compensation · Governance78,854029,204—0108,058
Edward M. StrawIndependent · Audit · Compensation (Chair) · Governance75,854029,204—0105,058
Sherrie PerkinsIndependent · Compensation · Governance (Chair)65,354029,204—094,558
Jeffrey S. MathiesenEmployee director · Departed during FY000—00
Joseph CheeEmployee director · Board Chair · Partial-year service000—00
Dane C. AndreeffEmployee director000—00
Cosmo JiangNot independent · Partial-year service · Newly elected000—00
09

Board fee structure and ownership guideline

Annual cash retainer$35,000
Annual equity retainer$50,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)7,500 / 16,000 / 10,000
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$313,916
Equity awards (grant-date value)$0
All other compensation$0
Total cost of the board$313,916

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
1Solana2025Dane Andreeff$419,000$0$636,456$146,650$2,125,594

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 Solana in fiscal 2025?
As disclosed, Joseph Chee (Executive Chairman) was the highest-paid executive at Solana in fiscal 2025, with total compensation of $6,938,212.
How did shareholders vote on Solana's executive compensation?
As disclosed, 74.53% of shareholders supported Solana's executive compensation in the latest say-on-pay vote.
How much does Solana spend in total on board compensation for fiscal 2025?
As disclosed, Solana reported total board compensation of $313,916 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, Joseph CheeDEF 14A2026-04-100001104659-26-041970Section “Summary Compensation Table” · page 17. As printed: 6,938,212. Filing ↗machine: r5 · c16 · span 269462–269471
2Section 01, Dane AndreeffDEF 14A2026-04-100001104659-26-041970Section “Summary Compensation Table” · page 17. As printed: 2,125,594. Filing ↗machine: r7 · c16 · span 278264–278273
3Section 01, Jeffrey MathiesenDEF 14A2026-04-100001104659-26-041970Section “Summary Compensation Table” · page 17. As printed: 1,479,353. Filing ↗machine: r10 · c16 · span 290771–290780
4Section 03, Dane Andreeff OptionDEF 14A2026-04-100001104659-26-041970Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t41 · r7 · c8 · span 276229–276236
5Section 03, Jeffrey Mathiesen OptionDEF 14A2026-04-100001104659-26-041970Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t41 · r10 · c8 · span 288584–288591
6Section 03, Joseph Chee RSUDEF 14A2026-04-100001104659-26-041970Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t41 · r5 · c10 · span 267823–267832
7Section 07, pay ratio10-K2026-03-310001104659-26-037194Section “CEO Pay Ratio”. As printed: —. Filing ↗
8Section 08, Blane WalterDEF 14A2026-04-100001104659-26-041970Section “Director Compensation”. As printed: 123,058. Filing ↗machine: span 504575–504746
9Section 08, Paul BuckmanDEF 14A2026-04-100001104659-26-041970Section “Director Compensation”. As printed: 108,058. Filing ↗machine: span 497913–498084
10Section 08, Edward M. StrawDEF 14A2026-04-100001104659-26-041970Section “Director Compensation”. As printed: 105,058. Filing ↗machine: span 502413–502584
11Section 08, Sherrie PerkinsDEF 14A2026-04-100001104659-26-041970Section “Director Compensation”. As printed: 94,558. Filing ↗machine: span 500078–500248
12Section 08, Jeffrey S. MathiesenDEF 14A2026-04-100001104659-26-041970Section “Director Compensation”. As printed: 0. Filing ↗
13Section 08, Joseph CheeDEF 14A2026-04-100001104659-26-041970Section “Director Compensation”. As printed: 0. Filing ↗
14Section 08, Dane C. AndreeffDEF 14A2026-04-100001104659-26-041970Section “Director Compensation”. As printed: 0. Filing ↗
15Section 08, Cosmo JiangDEF 14A2026-04-100001104659-26-041970Section “Director Compensation”. As printed: 0. Filing ↗
16Section 06, 2024 voteForm 8-K2024-06-280001558370-24-009613Item 5.07 · say-on-pay result. As reported: 74.53% (votes for as printed: 683,463). Filing ↗
17Section 06, 2021 voteForm 8-K2021-05-270001564590-21-030425Item 5.07 · say-on-pay result. As reported: 92.24%. Filing ↗
18Section 06, 2016 voteForm 8-K2016-09-200001176256-16-000658Item 5.07 · say-on-pay result. As reported: 99.72%. Filing ↗
19Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
20Section 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
21Section 09b board cost (computed)Computed——Cash 313,916 + equity 0 + all other 0 = 313,916, summed across the director compensation table rows.machine: formula: Σ = 313,916
22Solana (subject), Section 10b CEO totalDEF 14A2026-04-100001104659-26-041970CEO total compensation as printed in Solana's own proxy. As printed: 2,125,594. Filing ↗machine: r7 · c16 · span 278264–278273

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