Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-10-07

Mara Holdings (MARA)

CEO Fred Thiel was paid $27,053,236 in fiscal year 2025, ↓ down 37.4% from fiscal year 2024, the 93rd percentile of its disclosed peer group (SEC filing 0001507605-26-000010 ↗): 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
93rd
CEO pay percentile vs peers
134:1
CEO-to-median pay ratio
59.09%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Fred Thiel (Chief Executive Officer and Chairman of the Board), FY2025 total compensation $27,053,236 (base salary $978,500) [exec_comp, SEC accession 0001507605-26-000010, filed 2026-04-30]

Answered within 24 hours, every figure cited to its SEC filing. If our database cannot answer your question, you are refunded automatically.

MARA's next annual pay disclosure, estimated April 30, 2027.est. Filing ↗

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 FY2024→2025
Fred Thiel$27,053,236$43,244,809$36,116,620↓ −16,191,573
Salman Khan18,890,43228,441,12621,167,804↓ −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.

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Companies that benchmark against MARA
5 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.

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
Barbara HumptonIndependent Director$810,000
Douglas MellingerLead Independent Director$845,000
Georges AntounIndependent Director$767,500
Janet GeorgeIndependent Director$802,500
Jay LeuppIndependent Director$787,500
Kevin DeNuccioFormer director (through FY2025)—
Said OuissalFormer director (through FY2025)—
Sarita JamesFormer director (through FY2025)—
Vicki Mealer-BurkeIndependent Director$810,000
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 ↗
Fred ThielDirector2026-04-30D80,88412969,799CommonForm 4 ↗
Salman KhanChief Financial Officer2026-04-30D65,45612784,817CommonForm 4 ↗
Zabi NowaidGeneral Counsel2026-05-18D4,2481148,682CommonForm 4 ↗
Salman KhanChief Financial Officer2026-05-18D16,00012192,000CommonForm 4 ↗
Fred ThielDirector2026-05-18D27,50512330,060CommonForm 4 ↗
Fred ThielDirector2026-05-18D27,31611313,041CommonForm 4 ↗
Zabi NowaidGeneral Counsel2026-05-18D8,2501299,000CommonForm 4 ↗
Fred ThielDirector2026-06-17D27,50514391,946CommonForm 4 ↗
Zabi NowaidGeneral Counsel2026-06-17D7,0001499,750CommonForm 4 ↗
Salman KhanChief Financial Officer2026-06-17D16,00014228,000CommonForm 4 ↗
Douglas MellingerDirector2026-06-22D7,00016112,000CommonForm 4 ↗
Fred ThielDirector2026-07-01D63,10114876,473CommonForm 4 ↗
Salman KhanChief Financial Officer2026-07-01D61,51514854,443CommonForm 4 ↗
Zabi NowaidGeneral Counsel2026-07-01D20,92414290,634CommonForm 4 ↗
Salman KhanChief Financial Officer2026-07-17D16,00011174,400CommonForm 4 ↗
Fred ThielDirector2026-07-17D27,50511299,805CommonForm 4 ↗
Zabi NowaidGeneral Counsel2026-07-20D8,37612100,512CommonForm 4 ↗
Fred ThielDirector2026-07-30D40,49712478,675CommonForm 4 ↗
Salman KhanChief Financial Officer2026-07-30D33,56912396,786CommonForm 4 ↗
Zabi NowaidGeneral Counsel2026-07-30D13,42812158,719CommonForm 4 ↗
Salman KhanChief Financial Officer2026-07-31D30,21511342,034CommonForm 4 ↗
Fred ThielDirector2026-07-31D40,38811457,192CommonForm 4 ↗
Zabi NowaidGeneral Counsel2026-07-31D9,74511110,313CommonForm 4 ↗
Fred ThielDirector2026-08-03D27,31612320,963CommonForm 4 ↗
Zabi NowaidGeneral Counsel2026-08-03D4,1391248,633CommonForm 4 ↗
Salman KhanChief Financial Officer2026-08-17D16,0009147,360CommonForm 4 ↗
Fred ThielDirector2026-08-17D27,5059253,321CommonForm 4 ↗
Zabi NowaidGeneral Counsel2026-08-21D8,37612100,512CommonForm 4 ↗
Fred ThielDirector2026-09-17D27,50511314,932CommonForm 4 ↗
Salman KhanChief Financial Officer2026-09-17D16,00011183,200CommonForm 4 ↗
Zabi NowaidGeneral Counsel2026-09-18D8,37612101,350Common, open-market saleForm 4 ↗
Zabi NowaidGeneral Counsel2026-09-30D20,92311237,058CommonForm 4 ↗
Fred ThielDirector2026-09-30D63,10111714,934CommonForm 4 ↗
Salman KhanChief Financial Officer2026-09-30D52,30711592,638CommonForm 4 ↗
Fred ThielDirector2026-10-01D27,50511308,606CommonForm 4 ↗
Salman KhanChief Financial Officer2026-10-05D9,21011103,244CommonForm 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
Salman KhanPSU2025-02-28—557,731274,7041,388,750$12,841,346
Zabi NowaidPSU2025-02-28—223,093109,881555,5025,136,543
Fred ThielPSU2025-02-28—847,753417,5502,110,90519,518,868
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Salman Khan$0$12,841,346$0100.0%
Zabi Nowaid05,136,5430100.0%
Fred Thiel019,518,8680100.0%

% 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 NowaidRSU663,757—$5,960,538
Fred ThielRSU2,748,316—24,679,878
Salman KhanRSU1,662,847—14,932,366
Fred ThielPSU158,163—1,420,304
Salman KhanPSU104,054—934,405
Zabi NowaidPSU41,622—373,766
05

Incentive-plan design — the Compensation Discussion & Analysis

The primary objective of the executive compensation program is to attract, retain, and motivate talented individuals while creating sustainable long-term value for stockholders. The program is guided by principles of pay-for-performance, rewarding achievement of financial and strategic objectives, and aligning executive interests with stockholders through a significant portion of compensation tied to performance.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantCompensia, Inc.
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———$845,000
Vicki Mealer-BurkeIndependent · Talent, Culture and Compensation (Chair) · Nominating and Corporate Governance · Social Responsibility210,000600,000———810,000
Barbara HumptonIndependent · Social Responsibility (Chair) · Talent, Culture and Compensation · Technology and Strategy210,000600,000———810,000
Janet GeorgeIndependent · Technology and Strategy (Chair) · Risk and Audit202,500600,000———802,500
Jay LeuppIndependent · Risk and Audit (Chair)187,500600,000———787,500
Georges AntounIndependent · Risk and Audit167,500600,000———767,500
Fred ThielEmployee director · Board Chair—————0
Kevin DeNuccioNot independent · Departed during FY——————
Said OuissalNot independent · Departed during FY——————
Sarita JamesNot independent · Departed during FY——————
09

Board fee structure and ownership guideline

Annual cash retainer$100,000
Annual equity retainer$600,000
Per board meeting fee$0
Committee chair fees (audit / comp / nom-gov)50,000 / 20,000 / 50,000
Stock ownership guidelineNon-employee directors are expected to meet their ownership requirement within three years of appointment.
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.ai2026Thomas Siebel751,53611,500,00311,500,001024,308,723
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
8DoubleVerify Holdings2025Mark Zagorski670,00010,323,7210797,30011,814,232
9SPS Commerce2025Chad Collins609,65810,789,7040011,410,244
10Rapid72025Corey Thomas545,0009,195,5760315,00010,058,576
11Couchbase2025Matthew Cain535,0007,639,0000508,2508,685,250
12Fastly2025Charles Compton438,7826,313,831006,798,332
13AppFolio2025Shane Trigg550,0004,000,3070814,0005,438,904
14Riot Platforms2025Jason Les1,584,337001,827,5813,460,222
15GitLab2026William Staples600,00000447,0601,047,060
16Squarespace2023Anthony 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 Holdingsnot disclosedPSU 67 · RSU 33Yes — Relative TSRCompensia, Inc.
AppFolio148%PSU 60 · RSU 40Nonot disclosed
Braze150%RSU 70 · PSU 30NoCompensia
C3.ainot disclosednot disclosednot disclosedCompensia, Inc.
Cipher Mining200%RSU 50 · PSU 50Yes — Relative TSR vs S&P Americas SmallCap Software & Services IndexSemler Brossy
CleanSparknot disclosedRSU 60 · PRSU 40NoCompensia Inc.
Confluent97.5%RSU 100not disclosedCompensia
Couchbase95%not disclosedNoCompensia
DoubleVerify Holdings119%PSU 50 · RSU 50Yes — Relative TSRCompensia
Fastly135.4%RSU 50 · PSU 50Yes — Relative Total Shareholder Return (rTSR)Semler Brossy
GitLab74.51%RSU 60 · PSU 40NoCompensia
Rapid750%RSU 50 · PSU 50NoCompensia
Riot Platforms125%not disclosedYes — 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, Inc.
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.

10d

Frequently asked questions

Who was the highest-paid executive at Mara Holdings in fiscal 2025?
As disclosed, Fred Thiel (Chief Executive Officer and Chairman of the Board) was the highest-paid executive at Mara Holdings in fiscal 2025, with total compensation of $27,053,236.
How does Mara Holdings's chief executive pay compare to its disclosed peer group?
As disclosed, Fred Thiel's total compensation ranked at the 93rd percentile of Mara Holdings's disclosed peer group.
What is Mara Holdings's CEO-to-median employee pay ratio?
As disclosed, Mara Holdings's CEO-to-median employee pay ratio was 134:1.
How did shareholders vote on Mara Holdings's executive compensation?
As disclosed, 59.09% of shareholders supported Mara Holdings's executive compensation in the latest say-on-pay vote.
How much does Mara Holdings spend in total on board compensation for fiscal 2025?
As disclosed, Mara Holdings reported total board compensation of $4,822,500 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, Fred ThielDEF 14A2026-04-300001507605-26-000010Section “Executive Compensation Tables” · page 62. As printed: 27,053,236. Filing ↗machine: span 1074218–1074228
2Section 01, Salman KhanDEF 14A2026-04-300001507605-26-000010Section “Executive Compensation Tables” · page 62. As printed: 18,890,432. Filing ↗machine: span 1082703–1082713
3Section 01, Zabi NowaidDEF 14A2026-04-300001507605-26-000010Section “Executive Compensation Tables” · page 62. As printed: 6,112,668. Filing ↗machine: span 1091306–1091315
4Section 03, Salman Khan PSUDEF 14A1900-01-010001507605-26-000010Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 1081342–1081352
5Section 03, Zabi Nowaid PSUDEF 14A1900-01-010001507605-26-000010Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
6Section 03, Fred Thiel PSUDEF 14A1900-01-010001507605-26-000010Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
7Section 07, pay ratioDEF 14A2026-04-300001507605-26-000010Section “CEO Pay Ratio”. As printed: 134 : 1. Filing ↗
8Section 08, Douglas MellingerDEF 14A2026-04-300001507605-26-000010Section “Director Compensation”. As printed: 845,000. Filing ↗machine: span 651450–651576
9Section 08, Vicki Mealer-BurkeDEF 14A2026-04-300001507605-26-000010Section “Director Compensation”. As printed: 810,000. Filing ↗machine: span 648905–649031
10Section 08, Barbara HumptonDEF 14A2026-04-300001507605-26-000010Section “Director Compensation”. As printed: 810,000. Filing ↗machine: span 644651–644777
11Section 08, Janet GeorgeDEF 14A2026-04-300001507605-26-000010Section “Director Compensation”. As printed: 802,500. Filing ↗machine: span 642528–642654
12Section 08, Jay LeuppDEF 14A2026-04-300001507605-26-000010Section “Director Compensation”. As printed: 787,500. Filing ↗machine: span 646768–646894
13Section 08, Georges AntounDEF 14A2026-04-300001507605-26-000010Section “Director Compensation”. As printed: 767,500. Filing ↗machine: span 640407–640533
14Section 08, Fred ThielDEF 14A2026-04-300001507605-26-000010Section “Director Compensation”. As printed: 0. Filing ↗
15Section 08, Kevin DeNuccioDEF 14A2026-04-300001507605-26-000010Section “Director Compensation”. As printed: —. Filing ↗
16Section 08, Said OuissalDEF 14A2026-04-300001507605-26-000010Section “Director Compensation”. As printed: —. Filing ↗
17Section 08, Sarita JamesDEF 14A2026-04-300001507605-26-000010Section “Director Compensation”. As printed: —. Filing ↗
18Section 02, Zabi Nowaid 2026-04-30Form 42026-05-040001493152-26-021197Insider equity transaction reported since the proxy statement. Filing ↗
19Section 02, Fred Thiel 2026-04-30Form 42026-05-040001493152-26-021198Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, Salman Khan 2026-04-30Form 42026-05-040001493152-26-021199Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, Zabi Nowaid 2026-05-18Form 42026-05-200001493152-26-024692Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Salman Khan 2026-05-18Form 42026-05-200001493152-26-024693Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Fred Thiel 2026-05-18Form 42026-05-200001493152-26-024694Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Fred Thiel 2026-05-18Form 42026-05-200001493152-26-024694Insider 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, Fred Thiel 2026-06-17Form 42026-06-220001493152-26-029651Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Zabi Nowaid 2026-06-17Form 42026-06-220001493152-26-029652Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Salman Khan 2026-06-17Form 42026-06-220001493152-26-029653Insider 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, Fred Thiel 2026-07-01Form 42026-07-020001493152-26-032007Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Salman Khan 2026-07-01Form 42026-07-020001493152-26-032009Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Zabi Nowaid 2026-07-01Form 42026-07-020001493152-26-032008Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Salman Khan 2026-07-17Form 42026-07-200001493152-26-033954Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Fred Thiel 2026-07-17Form 42026-07-200001493152-26-033955Insider 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 02, Fred Thiel 2026-07-30Form 42026-08-030001493152-26-035873Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Salman Khan 2026-07-30Form 42026-08-030001493152-26-035871Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Zabi Nowaid 2026-07-30Form 42026-08-030001493152-26-035872Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Salman Khan 2026-07-31Form 42026-08-040001493152-26-036063Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Fred Thiel 2026-07-31Form 42026-08-040001493152-26-036065Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Zabi Nowaid 2026-07-31Form 42026-08-040001493152-26-036064Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Fred Thiel 2026-08-03Form 42026-08-040001493152-26-036065Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, Zabi Nowaid 2026-08-03Form 42026-08-040001493152-26-036064Insider equity transaction reported since the proxy statement. Filing ↗
44Section 02, Salman Khan 2026-08-17Form 42026-08-190001493152-26-039283Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, Fred Thiel 2026-08-17Form 42026-08-190001493152-26-039284Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, Zabi Nowaid 2026-08-21Form 42026-08-210001493152-26-039749Insider equity transaction reported since the proxy statement. Filing ↗
47Section 02, Fred Thiel 2026-09-17Form 42026-09-180001493152-26-043433Insider equity transaction reported since the proxy statement. Filing ↗
48Section 02, Salman Khan 2026-09-17Form 42026-09-180001493152-26-043431Insider equity transaction reported since the proxy statement. Filing ↗
49Section 02, Zabi Nowaid 2026-09-18Form 42026-09-180001493152-26-043432Insider equity transaction reported since the proxy statement. Filing ↗
50Section 02, Zabi Nowaid 2026-09-30Form 42026-10-020001493152-26-045636Insider equity transaction reported since the proxy statement. Filing ↗
51Section 02, Fred Thiel 2026-09-30Form 42026-10-020001493152-26-045635Insider equity transaction reported since the proxy statement. Filing ↗
52Section 02, Salman Khan 2026-09-30Form 42026-10-020001493152-26-045634Insider equity transaction reported since the proxy statement. Filing ↗
53Section 02, Fred Thiel 2026-10-01Form 42026-10-020001493152-26-045635Insider equity transaction reported since the proxy statement. Filing ↗
54Section 02, Salman Khan 2026-10-05Form 42026-10-070001493152-26-046185Insider equity transaction reported since the proxy statement. Filing ↗
55Section 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 ↗
56Section 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 ↗
57Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
58Section 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
59Section 09b board cost (computed)Computed——Cash 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
60CleanSpark, 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: span 1267847–1267857
61Mara 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
62C3.ai, Section 10b CEO totalDEF 14A2026-08-280001577526-26-000110CEO total compensation as printed in C3.ai's own proxy. As printed: 24,308,723. Filing ↗machine: r2 · c24 · span 463508–463518
63Samsara, 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
64Confluent, 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
65Cipher 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
66Braze, 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
67DoubleVerify 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
68SPS 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
69Rapid7, 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
70Couchbase, 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
71Fastly, 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
72AppFolio, 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
73Riot 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 ↗
74GitLab, 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
75Squarespace, 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
76Section 10a, Couchbase reciprocityDEF 14A—0001845022-25-000036Couchbase's most recent proxy was read; its disclosed peer group does not include Mara Holdings. Filing ↗
77Section 10a, Braze reciprocityDEF 14A—0001140361-26-021908Braze's most recent proxy was read; its disclosed peer group does not include Mara Holdings. Filing ↗
78Section 10a, Cipher Mining reciprocityDEF 14A—0001819989-26-000016Cipher Mining's most recent proxy was read; its disclosed peer group does not include Mara Holdings. Filing ↗
79Section 10a, CleanSpark reciprocityDEF 14A—0001193125-26-019447CleanSpark names Mara Holdings in its own disclosed peer group (read from its most recent proxy). Filing ↗
80Section 10a, DoubleVerify Holdings reciprocityDEF 14A—0001104659-26-040372DoubleVerify Holdings's most recent proxy was read; its disclosed peer group does not include Mara Holdings. Filing ↗
81Section 10a, Fastly reciprocityDEF 14A—0001140361-26-016095Fastly's most recent proxy was read; its disclosed peer group does not include Mara Holdings. Filing ↗
82Section 10a, GitLab reciprocityDEF 14A—0001653482-26-000085GitLab's most recent proxy was read; its disclosed peer group does not include Mara Holdings. Filing ↗
83Section 10a, Rapid7 reciprocityDEF 14A—0001560327-26-000019Rapid7's most recent proxy was read; its disclosed peer group does not include Mara Holdings. Filing ↗
84Section 10a, Samsara reciprocityDEF 14A—0001628280-26-039492Samsara's most recent proxy was read; its disclosed peer group does not include Mara Holdings. Filing ↗
85Section 10a, SPS Commerce reciprocityDEF 14A—0001092699-26-000029SPS Commerce's most recent proxy was read; its disclosed peer group does not include Mara Holdings. Filing ↗
86Section 10a, Riot Platforms reciprocityDEF 14A—0001104659-26-053098Riot Platforms names Mara Holdings in its own disclosed peer group (read from its most recent proxy). Filing ↗
87Section 10a, C3.ai reciprocityDEF 14A—0001577526-26-000110C3.ai's most recent proxy was read; its disclosed peer group does not include Mara Holdings. Filing ↗
88Section 10a, Confluent reciprocityDEF 14A—0000950170-25-057394Confluent's most recent proxy was read; its disclosed peer group does not include Mara Holdings. Filing ↗
89Section 10a, Squarespace reciprocityDEF 14A—0001496963-24-000017Squarespace's most recent proxy was read; its disclosed peer group does not include Mara Holdings. Filing ↗

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