Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-20

Mara Holdings (MARA)

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.

$27,053,236
Fred Thiel total, FY2025
88th
CEO pay percentile vs peers
134:1
CEO-to-median pay ratio
59.09%
Say-on-pay support, latest vote
Companies that benchmark against MARA
3 companies name MARA as a compensation peer

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

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Fred Thiel$978,500$0$19,518,868$0$2,201,625$0$4,354,243$27,053,236
Chief Executive Officer and Chairman of the Board
Salman Khan643,750012,841,34601,448,43803,956,89818,890,432
Chief Financial Officer
Zabi Nowaid386,25005,136,5430579,375010,5006,112,668
General Counsel and Corporate 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 FY20242025
Fred Thiel$27,053,236$43,244,809−16,191,573
Salman Khan18,890,43228,441,126−9,550,694
Zabi Nowaid6,112,66811,587,075−5,474,407

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

02

Equity transactions since the proxy statement was filed

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.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Zabi NowaidGeneral Counsel2026-04-30D23,781$12$285,134CommonForm 4 ↗
Salman KhanChief Financial Officer2026-04-30D65,45612784,817CommonForm 4 ↗
Fred ThielDirector2026-04-30D80,88412969,799CommonForm 4 ↗
Fred ThielDirector2026-05-18D27,50512330,060CommonForm 4 ↗
Fred ThielDirector2026-05-18D27,31611313,041CommonForm 4 ↗
Salman KhanChief Financial Officer2026-05-18D16,00012192,000CommonForm 4 ↗
Zabi NowaidGeneral Counsel2026-05-18D8,2501299,000CommonForm 4 ↗
Zabi NowaidGeneral Counsel2026-05-18D4,2481148,682CommonForm 4 ↗
Zabi NowaidGeneral Counsel2026-06-17D7,0001499,750CommonForm 4 ↗
Salman KhanChief Financial Officer2026-06-17D16,00014228,000CommonForm 4 ↗
Fred ThielDirector2026-06-17D27,50514391,946CommonForm 4 ↗
Douglas MellingerDirector2026-06-22D7,00016112,000CommonForm 4 ↗
Zabi NowaidGeneral Counsel2026-07-01D20,92414290,634CommonForm 4 ↗
Fred ThielDirector2026-07-01D63,10114876,473CommonForm 4 ↗
Salman KhanChief Financial Officer2026-07-01D61,51514854,443CommonForm 4 ↗
Fred ThielDirector2026-07-17D27,50511299,805CommonForm 4 ↗
Salman KhanChief Financial Officer2026-07-17D16,00011174,400CommonForm 4 ↗
Zabi NowaidGeneral Counsel2026-07-20D8,37612100,512CommonForm 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.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Fred ThielPSU2025-02-28417,550847,7532,110,905$19,518,868
Salman KhanPSU2025-02-28274,704557,7311,388,75012,841,346
Zabi NowaidPSU2025-02-28109,881223,093555,5025,136,543
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Fred Thiel$0$19,518,868$0100.0%
Salman Khan012,841,3460100.0%
Zabi Nowaid05,136,5430100.0%

% 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
Zabi NowaidPSU41,622$373,766
Fred ThielRSU2,748,31624,679,878
Fred ThielPSU158,1631,420,304
Salman KhanRSU1,662,84714,932,366
Zabi NowaidRSU663,7575,960,538
Salman KhanPSU104,054934,405
05

Incentive-plan design — the Compensation Discussion & Analysis

The primary objective of our executive compensation program is to compensate our executives in a manner that will attract, retain and motivate talented individuals with the skills needed to manage a complex and growing business, in a competitive and dynamic industry, while creating sustainable long-term value for our stockholders.

CEO STI target (% of salary)225%
CEO LTI target (% of salary)
Independent consultantCompensia
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-1864,973,53844,975,240626,65359.09%Passed
20252025-06-2620,154,11973,226,0791,439,18621.58%Failed

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
20262026-06-1859.09%a
20252025-06-2621.58%b

a. Approved under the standard stated in the filing — “Abstentions will have no effect on the outcome of the vote on this proposal.”.

b. Approved under the standard stated in the filing — “Abstentions will have no effect on the outcome of the vote on this proposal.”.

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)134 : 1
CEO total compensation$27,053,236
Median employee compensation$201,250
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Douglas MellingerIndependent · Lead Independent Director · Nominating and Corporate Governance (Chair) · Social Responsibility · Technology and Strategy$245,000$600,000$0$0$0$845,000
Vicki Mealer-BurkeIndependent · Talent, Culture and Compensation (Chair) · Nominating and Corporate Governance · Social Responsibility210,000600,000000810,000
Barbara HumptonIndependent · Social Responsibility (Chair) · Talent, Culture and Compensation · Technology and Strategy210,000600,000000810,000
Janet GeorgeIndependent · Technology and Strategy (Chair) · Risk and Audit · Talent, Culture and Compensation202,500600,000000802,500
Jay LeuppIndependent · Risk and Audit (Chair) · Nominating and Corporate Governance · Talent, Culture and Compensation187,500600,000000787,500
Georges AntounIndependent · Risk and Audit · Technology and Strategy167,500600,000000767,500
Sarita JamesIndependent · Talent, Culture and Compensation · Departed during FY000000
Fred ThielEmployee director · Board Chair00000
Kevin DeNuccioIndependent · Nominating and Corporate Governance · Departed during FY000000
Said OuissalIndependent · Technology and Strategy · Departed during FY000000
09

Board fee structure and ownership guideline

Annual cash retainer$100,000
Annual equity retainer$600,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)50,000 / 20,000 / 50,000
Stock ownership guideline$500,000
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,222,500
Equity awards (grant-date value)$3,600,000
All other compensation$0
Total cost of the board$4,822,500

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

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.

10a

Peer reciprocity

Of the companies Mara Holdings 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 Mara Holdings.

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
1CleanSpark2025S. Matthew Schultz$862,917$37,098,637$0$0$44,901,507
2Mara Holdings2025Fred Thiel978,50019,518,86802,201,62527,053,236
3C3.ai2025Thomas Siebel1,000,00011,506,01211,506,017900,00025,516,876
4Samsara2026Sanjit Biswas50,00018,069,159063,94518,184,644
5Confluent2024Jay Kreps65,00015,040,7010015,105,701
6Cipher Mining2025Rodney Tyler Page825,00012,479,6230014,968,623
7Braze2026William Magnuson580,00012,776,5160868,78214,230,598
8MicroStrategy2025Phong Le1,100,0008,796,8642,376,459013,784,204
9DoubleVerify Holdings2025Mark Zagorski670,00010,323,7210797,30011,814,232
10SPS Commerce2025Chad Collins609,65810,789,7040011,410,244
11Rapid72025Corey Thomas545,0009,195,5760315,00010,058,576
12Couchbase2025Matthew Cain535,0007,639,0000508,2508,685,250
13Fastly2025Charles Compton438,7826,313,831006,798,332
14AppFolio2025Shane Trigg550,0004,000,3070814,0005,438,904
15Riot Platforms2025Jason Les1,584,337001,827,5813,460,222
16GitLab2026William Staples600,00000447,0601,047,060
17Squarespace2023Anthony Casalena1000552,146

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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Mara Holdings100%PSU 67 · RSU 33Yes — Relative TSRCompensia
AppFolio148%PSU 60 · RSU 40Nonot disclosed
Braze150%RSU 70 · PSU 30NoCompensia
C3.ai90%RSU 100NoCompensia, Inc.
Cipher Mining200%RSU 50 · PSU 50Yes — Relative TSR vs S&P Americas SmallCap Software & Services IndexSemler Brossy
CleanSpark647%RSU 60 · PSU 40NoCompensia Inc.
Confluent97.5%RSU 100not disclosedCompensia
Couchbase95%not disclosedNoCompensia
DoubleVerify Holdings119%PSU 50 · RSU 50Yes — Relative TSRCompensia, Inc.
Fastly135.4%PSU 50 · RSU 50Yes — Relative Total Shareholder Return (rTSR)Semler Brossy
GitLab74.51%RSU 60 · PSU 40NoCompensia
MicroStrategy95%Options 40 · PSU 40 · RSU 20Yes — Total Stockholder Return (TSR)Willis Towers Watson US LLC
Rapid750%RSU 50 · PSU 50NoCompensia
Riot Platforms125%RSU 50 · PSU 50Yes — TSR relative to RUSSELL 3000 IndexCompensia Inc.
Samsara127.9%RSU 100not disclosedCompensia
SPS Commercenot disclosedRSU 50 · PSU 50Yes — relative TSR performance against the Russell 2000 IndexCompensia
Squarespace162.97%RSU 75 · PSU 25NoFrederic W. Cook & Co., Inc.

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.

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, Fred ThielDEF 14A2026-04-300001507605-26-000010Section “2025 Summary Compensation Table”. As printed: 27,053,236. Filing ↗machine: span 1074218–1074228
2Section 01, Salman KhanDEF 14A2026-04-300001507605-26-000010Section “2025 Summary Compensation Table”. As printed: 18,890,432. Filing ↗machine: span 1082703–1082713
3Section 01, Zabi NowaidDEF 14A2026-04-300001507605-26-000010Section “2025 Summary Compensation Table”. As printed: 6,112,668. Filing ↗machine: span 1091306–1091315
4Section 03, Fred Thiel PSUDEF 14A2026-04-300001507605-26-000010Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t155 · r4 · c7 · span 1115586–1115593
5Section 03, Salman Khan PSUDEF 14A2026-04-300001507605-26-000010Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t155 · r6 · c7 · span 1119527–1119534
6Section 03, Zabi Nowaid PSUDEF 14A2026-04-300001507605-26-000010Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t155 · r8 · c7 · span 1123744–1123751
7Section 07, pay ratioDEF 14A2026-04-300001507605-26-000010Section “CEO Pay Ratio”. As printed: 134 : 1. Filing ↗machine: t44 · r11 · c1 · span 393743–393746
8Section 08, Douglas MellingerDEF 14A2026-04-300001507605-26-000010Section “Director Compensation”. As printed: 845,000. Filing ↗machine: t77 · r7 · c11 · span 651556–651563
9Section 08, Vicki Mealer-BurkeDEF 14A2026-04-300001507605-26-000010Section “Director Compensation”. As printed: 810,000. Filing ↗machine: t77 · r6 · c11 · span 649011–649018
10Section 08, Barbara HumptonDEF 14A2026-04-300001507605-26-000010Section “Director Compensation”. As printed: 810,000. Filing ↗machine: t77 · r4 · c11 · span 644757–644764
11Section 08, Janet GeorgeDEF 14A2026-04-300001507605-26-000010Section “Director Compensation”. As printed: 802,500. Filing ↗machine: t77 · r3 · c11 · span 642634–642641
12Section 08, Jay LeuppDEF 14A2026-04-300001507605-26-000010Section “Director Compensation”. As printed: 787,500. Filing ↗machine: t77 · r5 · c11 · span 646874–646881
13Section 08, Georges AntounDEF 14A2026-04-300001507605-26-000010Section “Director Compensation”. As printed: 767,500. Filing ↗machine: t77 · r2 · c11 · span 640513–640520
14Section 08, Sarita JamesDEF 14A2026-04-300001507605-26-000010Section “Director Compensation”. As printed: 0. Filing ↗
15Section 08, Fred ThielDEF 14A2026-04-300001507605-26-000010Section “Director Compensation”. As printed: 0. Filing ↗
16Section 08, Kevin DeNuccioDEF 14A2026-04-300001507605-26-000010Section “Director Compensation”. As printed: 0. Filing ↗
17Section 08, Said OuissalDEF 14A2026-04-300001507605-26-000010Section “Director Compensation”. As printed: 0. Filing ↗
18Section 02, Zabi Nowaid 2026-04-30Form 42026-05-040001493152-26-021197Insider equity transaction reported since the proxy statement. Filing ↗
19Section 02, Salman Khan 2026-04-30Form 42026-05-040001493152-26-021199Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, Fred Thiel 2026-04-30Form 42026-05-040001493152-26-021198Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, Fred Thiel 2026-05-18Form 42026-05-200001493152-26-024694Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Fred Thiel 2026-05-18Form 42026-05-200001493152-26-024694Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Salman Khan 2026-05-18Form 42026-05-200001493152-26-024693Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Zabi Nowaid 2026-05-18Form 42026-05-200001493152-26-024692Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Zabi Nowaid 2026-05-18Form 42026-05-200001493152-26-024692Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Zabi Nowaid 2026-06-17Form 42026-06-220001493152-26-029652Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Salman Khan 2026-06-17Form 42026-06-220001493152-26-029653Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Fred Thiel 2026-06-17Form 42026-06-220001493152-26-029651Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Douglas Mellinger 2026-06-22Form 42026-06-240001493152-26-029992Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Zabi Nowaid 2026-07-01Form 42026-07-020001493152-26-032008Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Fred Thiel 2026-07-01Form 42026-07-020001493152-26-032007Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Salman Khan 2026-07-01Form 42026-07-020001493152-26-032009Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Fred Thiel 2026-07-17Form 42026-07-200001493152-26-033955Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Salman Khan 2026-07-17Form 42026-07-200001493152-26-033954Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Zabi Nowaid 2026-07-20Form 42026-07-200001493152-26-033953Insider equity transaction reported since the proxy statement. Filing ↗
36Section 06, 2026 voteForm 8-K2026-06-220001493152-26-029615Item 5.07 · say-on-pay result. As reported: 59.09% (votes for as printed: 64,973,538). Filing ↗
37Section 06, 2025 voteForm 8-K2025-06-270001641172-25-016953Item 5.07 · say-on-pay result. As reported: 21.58% (votes for as printed: 20,154,119). Filing ↗
38Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
39Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
40Section 09b board cost (computed)ComputedcomputedCash 1,222,500 + equity 3,600,000 + all other 0 = 4,822,500, summed across the director compensation table rows.machine: formula: Σ = 4,822,500
41CleanSpark, Section 10b CEO totalDEF 14A2026-01-220001193125-26-019447CEO total compensation as printed in CleanSpark's own proxy. As printed: 44,901,507. Filing ↗machine: t84 · r3 · c13 · span 1267847–1267857
42Mara Holdings (subject), Section 10b CEO totalDEF 14A2026-04-300001507605-26-000010CEO total compensation as printed in Mara Holdings's own proxy. As printed: 27,053,236. Filing ↗machine: span 1074218–1074228
43C3.ai, Section 10b CEO totalDEF 14A2025-08-210001577526-25-000012CEO total compensation as printed in C3.ai's own proxy. As printed: 25,516,876. Filing ↗machine: r2 · c24 · span 368334–368344
44Samsara, Section 10b CEO totalDEF 14A2026-06-010001628280-26-039492CEO total compensation as printed in Samsara's own proxy. As printed: 18,184,644. Filing ↗machine: r2 · c48 · span 502458–502468
45Confluent, Section 10b CEO totalDEF 14A2025-04-230000950170-25-057394CEO total compensation as printed in Confluent's own proxy. As printed: 15,105,701. Filing ↗machine: r2 · c25 · span 762692–762702
46Cipher Mining, Section 10b CEO totalDEF 14A2026-04-200001819989-26-000016CEO total compensation as printed in Cipher Mining's own proxy. As printed: 14,968,623. Filing ↗machine: r3 · c36 · span 547754–547764
47Braze, Section 10b CEO totalDEF 14A2026-05-180001140361-26-021908CEO total compensation as printed in Braze's own proxy. As printed: 14,230,598. Filing ↗machine: r2 · c18 · span 550603–550613
48MicroStrategy, Section 10b CEO totalDEF 14A2026-04-280001193125-26-186895CEO total compensation as printed in MicroStrategy's own proxy. As printed: 13,784,204. Filing ↗machine: span 684288–684298
49DoubleVerify Holdings, Section 10b CEO totalDEF 14A2026-04-070001104659-26-040372CEO total compensation as printed in DoubleVerify Holdings's own proxy. As printed: 11,814,232. Filing ↗machine: r1 · c48 · span 753872–753882
50SPS Commerce, Section 10b CEO totalDEF 14A2026-04-140001092699-26-000029CEO total compensation as printed in SPS Commerce's own proxy. As printed: 11,410,244. Filing ↗machine: r2 · c42 · span 913548–913558
51Rapid7, Section 10b CEO totalDEF 14A2026-04-220001560327-26-000019CEO total compensation as printed in Rapid7's own proxy. As printed: 10,058,576. Filing ↗machine: r2 · c42 · span 505425–505435
52Couchbase, Section 10b CEO totalDEF 14A2025-04-160001845022-25-000036CEO total compensation as printed in Couchbase's own proxy. As printed: 8,685,250. Filing ↗machine: r3 · c33 · span 627097–627106
53Fastly, Section 10b CEO totalDEF 14A2026-04-220001140361-26-016095CEO total compensation as printed in Fastly's own proxy. As printed: 6,798,332. Filing ↗machine: r2 · c25 · span 929622–929631
54AppFolio, Section 10b CEO totalDEF 14A2026-04-280001433195-26-000031CEO total compensation as printed in AppFolio's own proxy. As printed: 5,438,904. Filing ↗machine: r3 · c51 · span 627702–627711
55Riot Platforms, Section 10b CEO totalDEF 14A2026-04-300001104659-26-053098CEO total compensation as printed in Riot Platforms's own proxy. As printed: 3,460,222. Filing ↗machine: t177 · span 1400543–1400552
56GitLab, Section 10b CEO totalDEF 14A2026-05-010001653482-26-000085CEO total compensation as printed in GitLab's own proxy. As printed: 1,047,060. Filing ↗machine: span 506534–506543
57Squarespace, Section 10b CEO totalDEF 14A2024-04-220001496963-24-000017CEO total compensation as printed in Squarespace's own proxy. As printed: 552,146. Filing ↗machine: span 407836–407843
58Section 10a, MicroStrategy reciprocityDEF 14A0001193125-26-186895MicroStrategy's most recent proxy was read; its disclosed peer group does not include Mara Holdings. Filing ↗
59Section 10a, Braze reciprocityDEF 14A0001140361-26-021908Braze's most recent proxy was read; its disclosed peer group does not include Mara Holdings. Filing ↗
60Section 10a, Squarespace reciprocityDEF 14A0001496963-24-000017Squarespace's most recent proxy was read; its disclosed peer group does not include Mara Holdings. Filing ↗
61Section 10a, DoubleVerify Holdings reciprocityDEF 14A0001104659-26-040372DoubleVerify Holdings's most recent proxy was read; its disclosed peer group does not include Mara Holdings. Filing ↗
62Section 10a, GitLab reciprocityDEF 14A0001653482-26-000085GitLab's most recent proxy was read; its disclosed peer group does not include Mara Holdings. Filing ↗
63Section 10a, Couchbase reciprocityDEF 14A0001845022-25-000036Couchbase's most recent proxy was read; its disclosed peer group does not include Mara Holdings. Filing ↗
64Section 10a, Samsara reciprocityDEF 14A0001628280-26-039492Samsara's most recent proxy was read; its disclosed peer group does not include Mara Holdings. Filing ↗
65Section 10a, Cipher Mining reciprocityDEF 14A0001819989-26-000016Cipher Mining's most recent proxy was read; its disclosed peer group does not include Mara Holdings. Filing ↗
66Section 10a, Confluent reciprocityDEF 14A0000950170-25-057394Confluent's most recent proxy was read; its disclosed peer group does not include Mara Holdings. Filing ↗
67Section 10a, Riot Platforms reciprocityDEF 14A0001104659-26-053098Riot Platforms names Mara Holdings in its own disclosed peer group (read from its most recent proxy). Filing ↗
68Section 10a, CleanSpark reciprocityDEF 14A0001193125-26-019447CleanSpark's most recent proxy was read; its disclosed peer group does not include Mara Holdings. Filing ↗
69Section 10a, C3.ai reciprocityDEF 14A0001577526-25-000012C3.ai's most recent proxy was read; its disclosed peer group does not include Mara Holdings. Filing ↗
70Section 10a, SPS Commerce reciprocityDEF 14A0001092699-26-000029SPS Commerce's most recent proxy was read; its disclosed peer group does not include Mara Holdings. Filing ↗
71Section 10a, Fastly reciprocityDEF 14A0001140361-26-016095Fastly's most recent proxy was read; its disclosed peer group does not include Mara Holdings. Filing ↗
72Section 10a, Rapid7 reciprocityDEF 14A0001560327-26-000019Rapid7's most recent proxy was read; its disclosed peer group does not include Mara Holdings. Filing ↗