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.
This is the complete answer, not a partial one — the list is never padded.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Bryan Leach | $550,693 | $0 | $9,999,955 | $0 | $381,570 | $0 | $16,815 | $10,949,033 |
| Founder, Chief Executive Officer, President, and Chairman | ||||||||
| Chris Riedy | 461,538 | 0 | 9,879,818 | 0 | 365,800 | 0 | 11,916 | 10,719,072 |
| Chief Revenue Officer | ||||||||
| Matt Puckett | 169,231 | 0 | 9,444,601 | 0 | 159,041 | 0 | 6,184 | 9,779,057 |
| Chief Financial Officer and Interim Principal Accounting Officer | ||||||||
| Luke Swanson | 464,231 | 0 | 6,499,964 | 0 | 320,850 | 0 | 13,170 | 7,298,215 |
| Chief Technology Officer | ||||||||
| Sunit Patel | 118,173 | 0 | 6,499,964 | 0 | 0 | 0 | 17,193 | 6,635,330 |
| Former Chief Financial Officer | ||||||||
| Richard Donahue | 245,231 | 0 | 3,999,941 | 0 | 0 | 0 | 17,797 | 4,262,969 |
| Former Chief Marketing Officer | ||||||||
| David Shapiro | 459,231 | 0 | 2,534,935 | 0 | 176,157 | 0 | 15,116 | 3,185,439 |
| Chief Legal Officer and Corporate Secretary | ||||||||
| Valarie Sheppard | 414,923 | 0 | 1,468,441 | 0 | 0 | 0 | 295,836 | 2,179,200 |
| Former Interim 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.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Bryan Leach | $10,949,033 | — | — | — |
| Chris Riedy | 10,719,072 | — | — | — |
| Matt Puckett | 9,779,057 | — | — | — |
| Luke Swanson | 7,298,215 | — | — | — |
| Sunit Patel | 6,635,330 | — | — | — |
| Richard Donahue | 4,262,969 | — | — | — |
| David Shapiro | 3,185,439 | — | — | — |
| Valarie Sheppard | 2,179,200 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
No insider equity transactions reported since the proxy statement.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Richard Donahue | RSU | 2025-01-13 | — | — | 59,461 | — | $3,999,941 |
| Bryan Leach | RSU | 2025-01-13 | — | — | 148,654 | — | 9,999,955 |
| Sunit Patel | RSU | 2025-01-13 | — | — | 96,625 | — | 6,499,964 |
| Valarie Sheppard | RSU | 2025-03-27 | — | — | 33,073 | — | 1,468,441 |
| Matt Puckett | RSU | 2025-09-29 | — | — | 336,826 | — | 9,444,601 |
| Chris Riedy | RSU | 2025-01-24 | — | — | 132,384 | — | 9,879,818 |
| David Shapiro | RSU | 2025-01-13 | — | — | 37,683 | — | 2,534,935 |
| Luke Swanson | RSU | 2025-01-13 | — | — | 96,625 | — | 6,499,964 |
| Valarie Sheppard | RSU | 2025-05-28 | — | — | 4,029 | — | 200,000 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Richard Donahue | $3,999,941 | $0 | $0 | 0.0% |
| Bryan Leach | 9,999,955 | 0 | 0 | 0.0% |
| Sunit Patel | 6,499,964 | 0 | 0 | 0.0% |
| Valarie Sheppard | 1,668,441 | 0 | 0 | 0.0% |
| Matt Puckett | 9,444,601 | 0 | 0 | 0.0% |
| Chris Riedy | 9,879,818 | 0 | 0 | 0.0% |
| David Shapiro | 2,534,935 | 0 | 0 | 0.0% |
| Luke Swanson | 6,499,964 | 0 | 0 | 0.0% |
% 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 |
|---|---|---|---|---|
| Matt Puckett | RSU | 336,826 | — | $7,656,055 |
| Bryan Leach | RSU | 250,432 | — | 5,692,319 |
| Bryan Leach | PSU | 125,216 | — | 2,846,160 |
| Chris Riedy | RSU | 104,804 | — | 2,382,195 |
| Bryan Leach | RSU | 111,491 | — | 2,534,190 |
| Luke Swanson | RSU | 72,469 | — | 1,647,220 |
| Bryan Leach | RSU | 70,434 | — | 1,600,965 |
| Luke Swanson | RSU | 36,666 | — | 833,418 |
| David Shapiro | RSU | 28,263 | — | 642,418 |
| David Shapiro | RSU | 10,864 | — | 246,939 |
| David Shapiro | RSU | 10,703 | — | 243,279 |
| Valarie Sheppard | RSU | 3,030 | — | 68,872 |
| Valarie Sheppard | RSU | 4,029 | — | 91,579 |
| Bryan Leach | Option | 25,735 | 22.2 | — |
| Bryan Leach | Option | 16,250 | 10.4 | — |
| David Shapiro | Option | 9,451 | 31.15 | — |
| David Shapiro | Option | 17,829 | 31.15 | — |
| Luke Swanson | Option | 10,833 | 10.4 | — |
| Valarie Sheppard | Option | 5,313 | 10.4 | — |
Our executive compensation program is guided by our overarching philosophy of paying for demonstrable performance. Our aim is to provide an executive compensation program that is competitive, rewards achievement of business objectives, and aligns our named executive officers' interests with the interests of our shareholders.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Compensia, Inc. |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-19 | 65,559,261 | 190,917 | 79,194 | 99.71% | 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.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-05-19 | 99.71%a |
a. 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.
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Amit DoshiIndependent · Audit · Nominating/Governance (Chair) | $78,705 | $200,000 | $0 | — | $0 | $278,705 |
| Stephen BaileyIndependent · Compensation · Nominating/Governance | 55,172 | 200,000 | 0 | — | 0 | 255,172 |
| Amanda BaldwinIndependent · Compensation (Chair) | 55,000 | 200,000 | 0 | — | 0 | 255,000 |
| Thomas LehrmanIndependent · Audit · Compensation | 54,008 | 200,000 | 0 | — | 0 | 254,008 |
| Larry SonsiniIndependent · Nominating/Governance | 45,000 | 200,000 | 0 | — | 0 | 245,000 |
| Valarie SheppardEmployee director · Lead Independent Director · Audit (Chair) · Compensation | — | — | — | — | — | 0 |
| Bryan LeachEmployee director · Board Chair | — | — | — | — | — | 0 |
| Annual cash retainer | $40,000 |
|---|---|
| Annual equity retainer | $200,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 10,000 / 7,500 / 10,000 |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $287,885 |
| Equity awards (grant-date value) | $1,000,000 |
| All other compensation | $0 |
| Total cost of the board | $1,287,885 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Of the companies Ibotta names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.
Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Ibotta.
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 | Ibotta | 2025 | Bryan Leach | $550,693 | $9,999,955 | $0 | $381,570 | $10,949,033 |
| 2 | EngageSmart | 2022 | Robert Bennett | 600,000 | 0 | 0 | 357,000 | 958,500 |
| 3 | Duolingo | 2025 | Luis von Ahn | 750,000 | 0 | 0 | 0 | 767,500 |
| 4 | Klaviyo | 2025 | Andrew Bialecki | 75,000 | 0 | 0 | 0 | 78,000 |
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.
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Ibotta | not disclosed | not disclosed | not disclosed | Compensia, Inc. |
| Duolingo | not disclosed | PSU 100 | No | Compensia, Inc. |
| EngageSmart | not disclosed | not disclosed | not disclosed | Compensia, Inc. |
| Klaviyo | 87.3% | RSU 100 | not disclosed | Compensia |
Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.
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, Bryan Leach | DEF 14A | 2026-04-07 | 0001628280-26-024105 | Section “Summary Compensation Table” · page 49. As printed: 10,949,033. Filing ↗machine: r3 · c27 · span 669924–669934 |
| 2 | Section 01, Chris Riedy | DEF 14A | 2026-04-07 | 0001628280-26-024105 | Section “Summary Compensation Table” · page 49. As printed: 10,719,072. Filing ↗machine: r12 · c27 · span 683427–683437 |
| 3 | Section 01, Matt Puckett | DEF 14A | 2026-04-07 | 0001628280-26-024105 | Section “Summary Compensation Table” · page 49. As printed: 9,779,057. Filing ↗machine: r10 · c27 · span 680098–680107 |
| 4 | Section 01, Luke Swanson | DEF 14A | 2026-04-07 | 0001628280-26-024105 | Section “Summary Compensation Table” · page 49. As printed: 7,298,215. Filing ↗machine: r16 · c27 · span 689425–689434 |
| 5 | Section 01, Sunit Patel | DEF 14A | 2026-04-07 | 0001628280-26-024105 | Section “Summary Compensation Table” · page 49. As printed: 6,635,330. Filing ↗machine: r25 · c27 · span 702085–702094 |
| 6 | Section 01, Richard Donahue | DEF 14A | 2026-04-07 | 0001628280-26-024105 | Section “Summary Compensation Table” · page 49. As printed: 4,262,969. Filing ↗machine: r29 · c27 · span 707853–707862 |
| 7 | Section 01, David Shapiro | DEF 14A | 2026-04-07 | 0001628280-26-024105 | Section “Summary Compensation Table” · page 49. As printed: 3,185,439. Filing ↗machine: r14 · c27 · span 686308–686317 |
| 8 | Section 01, Valarie Sheppard | DEF 14A | 2026-04-07 | 0001628280-26-024105 | Section “Summary Compensation Table” · page 49. As printed: 2,179,200. Filing ↗machine: r23 · c27 · span 698964–698973 |
| 9 | Section 03, Richard Donahue RSU | DEF 14A | 2026-04-07 | 0001628280-26-024105 | Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: span 706701–706710 |
| 10 | Section 03, Bryan Leach RSU | DEF 14A | 2026-04-07 | 0001628280-26-024105 | Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: span 668672–668681 |
| 11 | Section 03, Sunit Patel RSU | DEF 14A | 2026-04-07 | 0001628280-26-024105 | Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: span 700832–700841 |
| 12 | Section 03, Valarie Sheppard RSU | DEF 14A | 2026-04-07 | 0001628280-26-024105 | Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: span 697807–697816 |
| 13 | Section 03, Matt Puckett RSU | DEF 14A | 2026-04-07 | 0001628280-26-024105 | Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: span 678847–678856 |
| 14 | Section 03, Chris Riedy RSU | DEF 14A | 2026-04-07 | 0001628280-26-024105 | Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: span 682175–682184 |
| 15 | Section 03, David Shapiro RSU | DEF 14A | 2026-04-07 | 0001628280-26-024105 | Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: span 685156–685165 |
| 16 | Section 03, Luke Swanson RSU | DEF 14A | 2026-04-07 | 0001628280-26-024105 | Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: span 688172–688181 |
| 17 | Section 03, Valarie Sheppard RSU | DEF 14A | 2026-04-07 | 0001628280-26-024105 | Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗ |
| 18 | Section 08, Amit Doshi | DEF 14A | 2026-04-07 | 0001628280-26-024105 | Section “Director Compensation”. As printed: 278,705. Filing ↗machine: span 370034–370041 |
| 19 | Section 08, Stephen Bailey | DEF 14A | 2026-04-07 | 0001628280-26-024105 | Section “Director Compensation”. As printed: 255,172. Filing ↗machine: span 365990–365997 |
| 20 | Section 08, Amanda Baldwin | DEF 14A | 2026-04-07 | 0001628280-26-024105 | Section “Director Compensation”. As printed: 255,000. Filing ↗machine: span 368014–368021 |
| 21 | Section 08, Thomas Lehrman | DEF 14A | 2026-04-07 | 0001628280-26-024105 | Section “Director Compensation”. As printed: 254,008. Filing ↗machine: span 371858–371865 |
| 22 | Section 08, Larry Sonsini | DEF 14A | 2026-04-07 | 0001628280-26-024105 | Section “Director Compensation”. As printed: 245,000. Filing ↗machine: span 373781–373788 |
| 23 | Section 08, Valarie Sheppard | DEF 14A | 2026-04-07 | 0001628280-26-024105 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 24 | Section 08, Bryan Leach | DEF 14A | 2026-04-07 | 0001628280-26-024105 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 25 | Section 06, 2026 vote | Form 8-K | 2026-05-22 | 0001628280-26-037740 | Item 5.07 · say-on-pay result. As reported: 99.71% (votes for as printed: 65,559,261). Filing ↗ |
| 26 | 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 |
| 27 | Section 09b board cost (computed) | Computed | — | computed | Cash 287,885 + equity 1,000,000 + all other 0 = 1,287,885, summed across the director compensation table rows.machine: formula: Σ = 1,287,885 |
| 28 | Ibotta (subject), Section 10b CEO total | DEF 14A | 2026-04-07 | 0001628280-26-024105 | CEO total compensation as printed in Ibotta's own proxy. As printed: 10,949,033. Filing ↗machine: r3 · c27 · span 669924–669934 |
| 29 | EngageSmart, Section 10b CEO total | DEF 14A | 2023-04-05 | 0000950170-23-011925 | CEO total compensation as printed in EngageSmart's own proxy. As printed: 958,500. Filing ↗machine: r2 · c7 · span 466903–466910 |
| 30 | Duolingo, Section 10b CEO total | DEF 14A | 2026-04-17 | 0001628280-26-025728 | CEO total compensation as printed in Duolingo's own proxy. As printed: 767,500. Filing ↗machine: t83 · r3 · c8 · span 569993–570000 |
| 31 | Klaviyo, Section 10b CEO total | DEF 14A | 2026-04-29 | 0001835830-26-000018 | CEO total compensation as printed in Klaviyo's own proxy. As printed: 78,000. Filing ↗machine: r2 · c14 · span 764131–764137 |
| 32 | Section 10a, Duolingo reciprocity | DEF 14A | — | 0001628280-26-025728 | Duolingo's most recent proxy was read; its disclosed peer group does not include Ibotta. Filing ↗ |
| 33 | Section 10a, Klaviyo reciprocity | DEF 14A | — | 0001835830-26-000018 | Klaviyo's most recent proxy was read; its disclosed peer group does not include Ibotta. Filing ↗ |