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Companies Ibotta

Ibotta (IBTA): executive pay, fiscal 2025

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CEO total pay$10,949,033CEO Bryan Leach · source
Say-on-pay support99.71%Latest vote · source
CEO vs. named peers59th pct.Of 19 peer CEOs

CEO pay, last three years

  • $1,768,701FY2023
  • $28,711,906FY2024
  • $10,949,033FY2025

CEO total pay was $10,949,033 in fiscal 2025, down from $28,711,906 in fiscal 2024.

FY2025: salary $550,693 · bonus $0 · stock awards $9,999,955 · option awards $0

Executives and directors

Full detail

Every table from the filing. Open any section.

Summary compensation table
Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
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 Riedy461,53809,879,8180365,800011,91610,719,072
Chief Revenue Officer
Matt Puckett169,23109,444,6010159,04106,1849,779,057
Chief Financial Officer and Interim Principal Accounting Officer
Luke Swanson464,23106,499,9640320,850013,1707,298,215
Chief Technology Officer
Sunit Patel118,17306,499,96400017,1936,635,330
Former Chief Financial Officer
Richard Donahue245,23103,999,94100017,7974,262,969
Former Chief Marketing Officer
David Shapiro459,23102,534,9350176,157015,1163,185,439
Chief Legal Officer and Corporate Secretary
Valarie Sheppard414,92301,468,441000295,8362,179,200
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.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Bryan Leach$10,949,033$28,711,906$1,768,701↓ −17,762,873
Chris Riedy10,719,072———
Matt Puckett9,779,057———
Luke Swanson7,298,2157,121,3941,636,771↑ +176,821
Sunit Patel6,635,3305,298,593—↑ +1,336,737
Richard Donahue4,262,969———
David Shapiro3,185,439———
Valarie Sheppard2,179,200———

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

Incentive-plan design — the Compensation Discussion & Analysis

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 consultantCompensia
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
Equity grants and outstanding awards

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Sunit PatelRSU2025-01-13——96,625—$6,499,964
Chris RiedyRSU2025-01-24——132,384—9,879,818
David ShapiroRSU2025-01-13——37,683—2,534,935
Richard DonahueRSU2025-01-13——59,461—3,999,941
Valarie SheppardRSU2025-03-27——33,073—1,468,441
Luke SwansonRSU2025-01-13——96,625—6,499,964
Matt PuckettRSU2025-09-29——336,826—9,444,601
Bryan LeachRSU2025-01-13——148,654—9,999,955
Valarie SheppardRSU2025-05-28——4,029—200,000

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Sunit Patel$6,499,964$0$00.0%
Chris Riedy9,879,818000.0%
David Shapiro2,534,935000.0%
Richard Donahue3,999,941000.0%
Valarie Sheppard1,668,441000.0%
Luke Swanson6,499,964000.0%
Matt Puckett9,444,601000.0%
Bryan Leach9,999,955000.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Valarie SheppardRSU3,030—$68,872
Valarie SheppardRSU4,029—91,579
Valarie SheppardOption5,31310.4—
David ShapiroOption9,45131.15—
David ShapiroRSU10,703—243,279
Luke SwansonOption10,83310.4—
David ShapiroRSU10,864—246,939
Bryan LeachOption16,25010.4—
David ShapiroOption17,82931.15—
Bryan LeachOption25,73522.2—
David ShapiroRSU28,263—642,418
Luke SwansonRSU36,666—833,418
Bryan LeachRSU70,434—1,600,965
Luke SwansonRSU72,469—1,647,220
Chris RiedyRSU104,804—2,382,195
Bryan LeachRSU111,491—2,534,190
Bryan LeachPSU125,216—2,846,160
Bryan LeachRSU250,432—5,692,319
Matt PuckettRSU336,826—7,656,055
Director compensation
DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Amit DoshiIndependent · Audit · Nominating and Corporate Governance (Chair)$78,705$200,000$0—$0$278,705
Stephen BaileyIndependent · Audit · Compensation · Nominating and Corporate Governance55,172200,0000—0255,172
Amanda BaldwinIndependent · Compensation (Chair)55,000200,0000—0255,000
Thomas LehrmanIndependent · Audit · Compensation54,008200,0000—0254,008
Larry SonsiniIndependent · Nominating and Corporate Governance45,000200,0000—0245,000
Bryan LeachEmployee director · Board Chair—————0
Valarie SheppardEmployee director · Audit · Compensation—————0

Board fee structure and ownership guideline

Annual cash retainer$40,000
Annual equity retainer$200,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)20,000 / 15,000 / 10,000
Stock ownership guideline—

Total cost of the board

ComponentFY2025
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.

Peer group, and who names Ibotta as a peer

Companies that benchmark against IBTA

2 companies name IBTA as a compensation peer

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

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

Peer reciprocity

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.

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
1Coursera2025Gregory Hart$540,833$14,629,466$23,644,105$570,467$39,387,371
2Vertex2025Christopher Young97,80824,999,9920025,615,909
3GoodRx2025Wendy Barnes825,00010,921,1829,000,000023,367,483
4Workiva2025Julie Iskow625,00014,000,0310937,50015,640,220
5Braze2026William Magnuson580,00012,776,5160868,78214,230,598
6MeridianLink2024Nicolaas Vlok600,00012,296,4530471,29113,371,744
7DoubleVerify2025Mark Zagorski670,00010,323,7210797,30011,814,232
8Ibotta2025Bryan Leach550,6939,999,9550381,57010,949,033
9Smartsheet2024Mark P. Mader587,0779,085,2220511,13410,205,886
10LiveRamp Holdings2025Scott Howe690,0008,039,0470830,3469,582,835
11Flywire2025Michael Massaro450,0007,732,0550610,0008,803,495
12QuinStreet2026Douglas Valenti604,7506,156,000006,760,750
13Magnite2025Michael Barrett650,0003,601,632927,883629,4605,842,620
14EngageSmart2022Robert Bennett600,00000357,000958,500
15Amplitude2025Spenser Skates450,00000339,019789,019
16Duolingo2025Luis von Ahn750,000000767,500
17Remitly Global2025Matthew Oppenheimer290,000000296,100
18Klaviyo2025Andrew Bialecki75,00000078,000

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.

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Ibottanot disclosednot disclosednot disclosedCompensia
Amplitude100.45%RSU 100not disclosedCompensia
Braze150%RSU 70 · PSU 30NoCompensia
Coursera106.3%RSU 75 · PSU 25NoCompensia
DoubleVerify119%PSU 50 · RSU 50Yes — Relative TSRCompensia
Duolingonot disclosedPSU 100NoCompensia, Inc.
EngageSmartnot disclosednot disclosednot disclosedCompensia, Inc.
Flywire122%RSU 100not disclosedClearBridge Compensation Group LLC
GoodRxnot disclosednot disclosednot disclosedPay Governance
Klaviyo87.3%RSU 100not disclosedCompensia
LiveRamp Holdings109.4%PSU 60 · RSU 40Yes — Relative TSR vs Russell 2000Compensia, Inc.
Magnite100.38%PSU 50 · RSU 30 · Options 20Yes — TSR performance relative to the Russell 2000 indexSemler Brossy Consulting Group, LLC
MeridianLink92.4%not disclosedNoCompensia and Korn Ferry
QuinStreetnot disclosedRSU 50 · PSU 50NoCompensia
Remitly Globalnot disclosednot disclosednot disclosedCompensia, Inc.
Smartsheet87.4%PSU 50 · RSU 50NoCompensia
Vertex70.8%RSU 100not disclosedAON (AON's Human Capital Solutions practice, a division of AON plc)
Workiva120%RSU 70 · PSU 30NoAlpine Rewards LLC

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.

Say-on-pay history and pay ratio
Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-1965,559,261190,91779,19499.71%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.

Say-on-pay — history, company’s computation

Meeting yearMeeting dateApproval — company’s computation
20262026-05-1999.71%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.

Insider trades since the proxy

No insider equity transactions reported since the proxy statement.

Sources (60 citations)

Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.

  • Section 01, Bryan Leach. DEF 14A, filed 2026-04-07. Section “Summary Compensation Table” · page 49. As printed: 10,949,033. View filing ↗
  • Section 01, Chris Riedy. DEF 14A, filed 2026-04-07. Section “Summary Compensation Table” · page 49. As printed: 10,719,072. View filing ↗
  • Section 01, Matt Puckett. DEF 14A, filed 2026-04-07. Section “Summary Compensation Table” · page 49. As printed: 9,779,057. View filing ↗
  • Section 01, Luke Swanson. DEF 14A, filed 2026-04-07. Section “Summary Compensation Table” · page 49. As printed: 7,298,215. View filing ↗
  • Section 01, Sunit Patel. DEF 14A, filed 2026-04-07. Section “Summary Compensation Table” · page 49. As printed: 6,635,330. View filing ↗
  • Section 01, Richard Donahue. DEF 14A, filed 2026-04-07. Section “Summary Compensation Table” · page 49. As printed: 4,262,969. View filing ↗
  • Section 01, David Shapiro. DEF 14A, filed 2026-04-07. Section “Summary Compensation Table” · page 49. As printed: 3,185,439. View filing ↗
  • Section 01, Valarie Sheppard. DEF 14A, filed 2026-04-07. Section “Summary Compensation Table” · page 49. As printed: 2,179,200. View filing ↗
  • Section 03, Sunit Patel RSU. DEF 14A, filed 2026-04-07. Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. View filing ↗
  • Section 03, Chris Riedy RSU. DEF 14A, filed 2026-04-07. Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. View filing ↗
  • Section 03, David Shapiro RSU. DEF 14A, filed 2026-04-07. Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. View filing ↗
  • Section 03, Richard Donahue RSU. DEF 14A, filed 2026-04-07. Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. View filing ↗
  • Section 03, Valarie Sheppard RSU. DEF 14A, filed 2026-04-07. Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. View filing ↗
  • Section 03, Luke Swanson RSU. DEF 14A, filed 2026-04-07. Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. View filing ↗
  • Section 03, Matt Puckett RSU. DEF 14A, filed 2026-04-07. Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. View filing ↗
  • Section 03, Bryan Leach RSU. DEF 14A, filed 2026-04-07. Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. View filing ↗
  • Section 03, Valarie Sheppard RSU. DEF 14A, filed 2026-04-07. Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. View filing ↗
  • Section 08, Amit Doshi. DEF 14A, filed 2026-04-07. Section “Director Compensation”. As printed: 278,705. View filing ↗
  • Section 08, Stephen Bailey. DEF 14A, filed 2026-04-07. Section “Director Compensation”. As printed: 255,172. View filing ↗
  • Section 08, Amanda Baldwin. DEF 14A, filed 2026-04-07. Section “Director Compensation”. As printed: 255,000. View filing ↗
  • Section 08, Thomas Lehrman. DEF 14A, filed 2026-04-07. Section “Director Compensation”. As printed: 254,008. View filing ↗
  • Section 08, Larry Sonsini. DEF 14A, filed 2026-04-07. Section “Director Compensation”. As printed: 245,000. View filing ↗
  • Section 08, Bryan Leach. DEF 14A, filed 2026-04-07. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 08, Valarie Sheppard. DEF 14A, filed 2026-04-07. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 06, 2026 vote. Form 8-K, filed 2026-05-22. Item 5.07 · say-on-pay result. As reported: 99.71% (votes for as printed: 65,559,261). View filing ↗
  • Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
  • Section 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).
  • Section 09b board cost (computed). Computed. Cash 287,885 + equity 1,000,000 + all other 0 = 1,287,885, summed across the director compensation table rows.
  • Coursera, Section 10b CEO total. DEF 14A, filed 2026-05-11. CEO total compensation as printed in Coursera's own proxy. As printed: 39,387,371. View filing ↗
  • Vertex, Section 10b CEO total. DEF 14A, filed 2026-04-27. CEO total compensation as printed in Vertex's own proxy. As printed: 25,615,909. View filing ↗
  • GoodRx, Section 10b CEO total. DEF 14A, filed 2026-04-29. CEO total compensation as printed in GoodRx's own proxy. As printed: 23,367,483. View filing ↗
  • Workiva, Section 10b CEO total. DEF 14A, filed 2026-04-17. CEO total compensation as printed in Workiva's own proxy. As printed: 15,640,220. View filing ↗
  • Braze, Section 10b CEO total. DEF 14A, filed 2026-05-18. CEO total compensation as printed in Braze's own proxy. As printed: 14,230,598. View filing ↗
  • MeridianLink, Section 10b CEO total. DEF 14A, filed 2025-04-23. CEO total compensation as printed in MeridianLink's own proxy. As printed: 13,371,744. View filing ↗
  • DoubleVerify, Section 10b CEO total. DEF 14A, filed 2026-04-07. CEO total compensation as printed in DoubleVerify's own proxy. As printed: 11,814,232. View filing ↗
  • Ibotta (subject), Section 10b CEO total. DEF 14A, filed 2026-04-07. CEO total compensation as printed in Ibotta's own proxy. As printed: 10,949,033. View filing ↗
  • Smartsheet, Section 10b CEO total. DEF 14A, filed 2024-05-01. CEO total compensation as printed in Smartsheet's own proxy. As printed: 10,205,886. View filing ↗
  • LiveRamp Holdings, Section 10b CEO total. DEF 14A, filed 2025-06-27. CEO total compensation as printed in LiveRamp Holdings's own proxy. As printed: 9,582,835. View filing ↗
  • Flywire, Section 10b CEO total. DEF 14A, filed 2026-04-23. CEO total compensation as printed in Flywire's own proxy. As printed: 8,803,495. View filing ↗
  • QuinStreet, Section 10b CEO total. DEF 14A, filed 2026-09-16. CEO total compensation as printed in QuinStreet's own proxy. As printed: 6,760,750. View filing ↗
  • Magnite, Section 10b CEO total. DEF 14A, filed 2026-04-21. CEO total compensation as printed in Magnite's own proxy. As printed: 5,842,620. View filing ↗
  • EngageSmart, Section 10b CEO total. DEF 14A, filed 2023-04-05. CEO total compensation as printed in EngageSmart's own proxy. As printed: 958,500. View filing ↗
  • Amplitude, Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in Amplitude's own proxy. As printed: 789,019. View filing ↗
  • Duolingo, Section 10b CEO total. DEF 14A, filed 2026-04-17. CEO total compensation as printed in Duolingo's own proxy. As printed: 767,500. View filing ↗
  • Remitly Global, Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in Remitly Global's own proxy. As printed: 296,100. View filing ↗
  • Klaviyo, Section 10b CEO total. DEF 14A, filed 2026-04-29. CEO total compensation as printed in Klaviyo's own proxy. As printed: 78,000. View filing ↗
  • Section 10a, LiveRamp Holdings reciprocity. DEF 14A. LiveRamp Holdings's most recent proxy was read; its disclosed peer group does not include Ibotta. View filing ↗
  • Section 10a, Magnite reciprocity. DEF 14A. Magnite's most recent proxy was read; its disclosed peer group does not include Ibotta. View filing ↗
  • Section 10a, Smartsheet reciprocity. DEF 14A. Smartsheet's most recent proxy was read; its disclosed peer group does not include Ibotta. View filing ↗
  • Section 10a, Duolingo reciprocity. DEF 14A. Duolingo's most recent proxy was read; its disclosed peer group does not include Ibotta. View filing ↗
  • Section 10a, Klaviyo reciprocity. DEF 14A. Klaviyo's most recent proxy was read; its disclosed peer group does not include Ibotta. View filing ↗
  • Section 10a, Amplitude reciprocity. DEF 14A. Amplitude's most recent proxy was read; its disclosed peer group does not include Ibotta. View filing ↗
  • Section 10a, GoodRx reciprocity. DEF 14A. GoodRx's most recent proxy was read; its disclosed peer group does not include Ibotta. View filing ↗
  • Section 10a, Remitly Global reciprocity. DEF 14A. Remitly Global's most recent proxy was read; its disclosed peer group does not include Ibotta. View filing ↗
  • Section 10a, QuinStreet reciprocity. DEF 14A. QuinStreet's most recent proxy was read; its disclosed peer group does not include Ibotta. View filing ↗
  • Section 10a, Coursera reciprocity. DEF 14A. Coursera's most recent proxy was read; its disclosed peer group does not include Ibotta. View filing ↗
  • Section 10a, Workiva reciprocity. DEF 14A. Workiva's most recent proxy was read; its disclosed peer group does not include Ibotta. View filing ↗
  • Section 10a, DoubleVerify reciprocity. DEF 14A. DoubleVerify's most recent proxy was read; its disclosed peer group does not include Ibotta. View filing ↗
  • Section 10a, Flywire reciprocity. DEF 14A. Flywire's most recent proxy was read; its disclosed peer group does not include Ibotta. View filing ↗
  • Section 10a, Braze reciprocity. DEF 14A. Braze's most recent proxy was read; its disclosed peer group does not include Ibotta. View filing ↗