Companies Latch, Inc.
Latch (LTCH): executive pay, fiscal 2025
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CEO pay, last three years
- $976,340FY2025
CEO total pay was $976,340 in fiscal 2025; the brief holds no earlier figure for this CEO.
FY2025: salary $450,685 · bonus $270,411 · stock awards $0 · option awards $0
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| David Lillis | $450,685 | $270,411 | $0 | $0 | $255,244 | $0 | $0 | $976,340 |
| Chief Executive Officer | ||||||||
| Priyen Patel | 338,014 | 270,411 | 0 | 0 | 197,995 | 0 | 0 | 806,420 |
| Chief Strategy & Legal Officer | ||||||||
| Jeff Mayfield | 270,411 | 180,274 | 0 | 0 | 158,521 | 0 | 0 | 609,206 |
| Chief Financial Officer | ||||||||
| Marc Landy | 0 | 0 | 0 | 0 | 0 | 0 | 40,608 | 40,608 |
| Former Interim Chief Financial Officer | ||||||||
| Jason Keyes | 0 | 0 | 0 | 0 | 0 | 0 | 4,450 | 4,450 |
| Former Interim Chief Executive Officer | ||||||||
| Jamie Siminoff | — | — | — | — | — | — | — | — |
| Former Chief Strategy Officer | ||||||||
| Jason Mitura | — | — | — | — | — | — | — | — |
| Former Chief Product 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 officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| David Lillis | $976,340 | — | — | — |
| Priyen Patel | 806,420 | — | — | — |
| Jeff Mayfield | 609,206 | — | — | — |
| Marc Landy | 40,608 | 541,518 | — | ↓ −500,910 |
| Jason Keyes | 4,450 | 141,821 | — | ↓ −137,371 |
| Jamie Siminoff | — | 3,811,457 | — | — |
| Jason Mitura | — | 2,625,031 | — | — |
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
Base salary provides financial certainty and stability, while the 2025 Performance Bonus Program aligns short-term incentives with quarterly financial and operational performance objectives. Long-term equity awards, such as performance-based stock options, are designed to align executive interests with long-term shareholder value.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Meridian Compensation Partners, LLC |
| Clawback policy | true |
| Anti-hedging | false |
| Anti-pledging | false |
Equity grants and outstanding awards
No plan-based awards are on file for this fiscal year.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Priyen Patel | RSU | 11,667 | — | $1,750 |
| Jeff Mayfield | Option | 375,000 | 0.48 | — |
| Priyen Patel | Option | 2,500,000 | 0.41 | — |
| David Lillis | Option | 3,000,000 | 0.41 | — |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Raju RishiIndependent · Lead Independent Director · Audit Committee · Compensation Committee (Chair) | $133,300 | $0 | — | — | — | $133,300 |
| Peter CampbellIndependent · Audit Committee (Chair) | 109,300 | 0 | — | — | — | 109,300 |
| J. Allen SmithIndependent · Audit Committee · Compensation Committee | 108,300 | 0 | — | — | — | 108,300 |
| Andrew SugrueIndependent · Nominating and Corporate Governance Committee (Chair) | 99,300 | 0 | — | — | — | 99,300 |
| Robert J. SpeyerNot independent | 89,800 | 0 | — | — | — | 89,800 |
| Patricia HanIndependent · Nominating and Corporate Governance Committee | 82,100 | 0 | — | — | — | 82,100 |
Board fee structure and ownership guideline
| Annual cash retainer | $40,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 18,000 / 10,000 / 8,000 |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $622,100 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $0 |
| Total cost of the board | $622,100 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Latch as a peer
Companies that benchmark against LTCH
1 company names LTCH as a compensation peer
- SOUNDTHINKING, INC.SSTIFY2025
Each company listed discloses LTCH 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 LTCH in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
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.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Latch, Inc. | 2025 | David Lillis | $450,685 | $0 | $0 | $255,244 | $976,340 |
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.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-10 | 57,646,930 | 540,959 | 26,524 | 99.07% | 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 year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2026 | 2026-06-10 | 99.07%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 (17 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, David Lillis. DEF 14A, filed 2026-04-30. Section “Summary Compensation Table” · page 19. As printed: 976,340. View filing ↗
- Section 01, Priyen Patel. DEF 14A, filed 2026-04-30. Section “Summary Compensation Table” · page 19. As printed: 806,420. View filing ↗
- Section 01, Jeff Mayfield. DEF 14A, filed 2026-04-30. Section “Summary Compensation Table” · page 19. As printed: 609,206. View filing ↗
- Section 01, Marc Landy. DEF 14A, filed 2026-04-30. Section “Summary Compensation Table” · page 19. As printed: 40,608. View filing ↗
- Section 01, Jason Keyes. DEF 14A, filed 2026-04-30. Section “Summary Compensation Table” · page 19. As printed: 4,450. View filing ↗
- Section 01, Jamie Siminoff. DEF 14A, filed 2026-04-30. Section “Summary Compensation Table” · page 19. As printed: —. View filing ↗
- Section 01, Jason Mitura. DEF 14A, filed 2026-04-30. Section “Summary Compensation Table” · page 19. As printed: —. View filing ↗
- Section 08, Raju Rishi. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 133,300. View filing ↗
- Section 08, Peter Campbell. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 109,300. View filing ↗
- Section 08, J. Allen Smith. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 108,300. View filing ↗
- Section 08, Andrew Sugrue. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 99,300. View filing ↗
- Section 08, Robert J. Speyer. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 89,800. View filing ↗
- Section 08, Patricia Han. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 82,100. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-06-16. Item 5.07 · say-on-pay result. As reported: 99.07% (votes for as printed: 57,646,930). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 09b board cost (computed). Computed. Cash 622,100 + equity 0 + all other 0 = 622,100, summed across the director compensation table rows.
- Latch, Inc. (subject), Section 10b CEO total. DEF 14A, filed 2026-04-30. CEO total compensation as printed in Latch, Inc.'s own proxy. As printed: 976,340. View filing ↗