CEO John Farahi was paid $3,610,936 in fiscal year 2025, ↓ down 1.4% from fiscal year 2024 (SEC filing 0001104659-26-042561 ↗): 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.
$3,610,936 ↓ John Farahi total, FY2025 | — CEO pay percentile vs peers | 62:1 CEO-to-median pay ratio | 97.89% Say-on-pay support, latest vote |
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MCRI's next annual pay disclosure, estimated April 5, 2027.est. Filing ↗
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| John Farahi | $750,000 | $225,000 | $0 | $2,629,081 | $0 | $0 | $6,855 | $3,610,936 |
| Co-Chairman of the Board, Secretary and Chief Executive Officer | ||||||||
| Bob Farahi | 250,000 | 50,000 | 0 | 1,314,540 | 0 | 0 | 6,615 | 1,621,155 |
| Co-Chairman of the Board and President | ||||||||
| Edwin Koenig | 225,000 | 45,000 | 0 | 222,498 | 0 | 0 | 4,654 | 497,152 |
| Chief Accounting Officer and Corporate Treasurer | ||||||||
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 |
|---|---|---|---|---|
| John Farahi | $3,610,936 | $3,660,587 | $3,209,187 | ↓ −49,651 |
| Bob Farahi | 1,621,155 | 1,683,376 | — | ↓ −62,221 |
| Edwin Koenig | 497,152 | — | 351,245 | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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Data as of September 21, 2026 · Source: 0001104659-26-042561 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).
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One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2025 total |
|---|---|---|
| Craig F. Sullivan | Independent Director | $344,472 |
| Hope S. Taitz | Independent Director | — |
| Paul Andrews | Independent Director | $329,472 |
| Yvette E. Landau | Former director (through FY2025) | $329,472 |
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.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Bob Farahi | Director | 2026-04-23 | D | 33,333 | $0 | $0 | Derivative, Class A Common | Form 4 ↗ |
| Bob Farahi | Director | 2026-04-23 | D | 51,175 | 117 | 5,969,564 | Common | Form 4 ↗ |
| Bob Farahi | Director | 2026-04-23 | A | 66,667 | 117 | 7,776,706 | Common | Form 4 ↗ |
| Bob Farahi | Director | 2026-04-23 | D | 33,334 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| John Farahi | Director | 2026-04-28 | A | 66,668 | 45 | 3,021,394 | Common | Form 4 ↗ |
| John Farahi | Director | 2026-04-28 | D | 66,666 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| John Farahi | Director | 2026-04-28 | D | 66,668 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| John Farahi | Director | 2026-04-28 | A | 66,666 | 23 | 1,538,651 | Common | Form 4 ↗ |
| John Farahi | Director | 2026-04-28 | D | 66,666 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| John Farahi | Director | 2026-04-28 | A | 66,666 | 40 | 2,654,640 | Common | Form 4 ↗ |
| John Farahi | Director | 2026-04-28 | D | 114,748 | 118 | 13,558,624 | Common | Form 4 ↗ |
| John Farahi | Director | 2026-05-28 | D | 5,000 | 121 | 604,200 | Common | Form 4 ↗ |
| Edwin Koenig | CAO | 2026-06-30 | A | 5,000 | 132 | 658,050 | Derivative, Class A Common | Form 4 ↗ |
| Craig F. Sullivan | Director | 2026-06-30 | A | 6,100 | 132 | 802,821 | Derivative, Class A Common | Form 4 ↗ |
| Hope S. Taitz | Director | 2026-06-30 | A | 6,100 | 132 | 802,821 | Derivative, Class A Common | Form 4 ↗ |
| Paul Andrews | Director | 2026-06-30 | A | 6,100 | 132 | 802,821 | Derivative, Class A Common | Form 4 ↗ |
| John Farahi | Director | 2026-09-17 | D | 5,000 | 124 | 620,000 | Common | Form 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.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| John Farahi | OPTION | 2025-12-31 | — | — | 66,666 | — | $2,629,081 |
| Bob Farahi | OPTION | 2025-12-31 | — | — | 33,333 | — | 1,314,540 |
| Edwin Koenig | OPTION | 2025-06-30 | — | — | 5,000 | — | 222,498 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| John Farahi | $0 | $0 | $2,629,081 | 0.0% |
| Bob Farahi | 0 | 0 | 1,314,540 | 0.0% |
| Edwin Koenig | 0 | 0 | 222,498 | 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 |
|---|---|---|---|---|
| Farahi | Option | 33,334 | 78.9 | — |
| Edwin Koenig | Option | 1,667 | 66.17 | — |
| Farahi | Option | 33,333 | 95.7 | — |
| Farahi | Option | 66,666 | 23.08 | — |
| Farahi | Option | 33,333 | 69.15 | — |
| Farahi | Option | 33,334 | 73.95 | — |
| Farahi | Option | 66,666 | 95.7 | — |
| Farahi | Option | 33,333 | 76.89 | — |
| Farahi | Option | 66,668 | 61.22 | — |
| Farahi | Option | 66,668 | 45.32 | — |
| Farahi | Option | 66,668 | 69.15 | — |
| Farahi | Option | 66,666 | 39.82 | — |
| Farahi | Option | 66,666 | 43.24 | — |
| Farahi | Option | 66,666 | 73.95 | — |
| Farahi | Option | 66,666 | 76.89 | — |
| Farahi | Option | 66,666 | 78.9 | — |
We seek to compensate our NEOs in a manner that will attract and retain qualified individuals who are responsible for the management, growth and success of the Company.
| CEO STI target (% of salary) | 20% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | not disclosed |
| Clawback policy | True |
| Anti-hedging | True |
| Anti-pledging | True |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-27 | 13,721,113 | 296,151 | 1,666,354 | 97.89% | Passed |
| 2025 | 2025-06-06 | 15,203,699 | 901,929 | 154,830 | 94.4% | Passed |
| 2024 | 2024-05-21 | 15,123,092 | 409,975 | 1,673,889 | 97.36% | Passed |
| 2023 | 2023-05-22 | 16,194,861 | 213,683 | 674,691 | 94.8% | Passed |
| 2022 | 2022-05-25 | 13,347,182 | 262,666 | 23,530 | 97.9% | Passed |
| 2021 | 2021-06-08 | 12,655,950 | 2,879,334 | 58,737 | 81.16% | 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 | 2026-05-27 | 97.89%a |
| 2025 | 2025-06-06 | 94.4%b |
| 2024 | 2024-05-21 | 97.36%c |
a. Voting standard not stated in the filing.
b. Voting standard not stated in the filing.
c. 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.
| Ratio (CEO : median employee) | 62 : 1 |
|---|---|
| CEO total compensation | $3,535,787 |
| Median employee compensation | $56,625 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Craig F. SullivanIndependent · Audit (Chair) · Compensation | $75,000 | — | $269,472 | $0 | $0 | $344,472 |
| Yvette E. LandauIndependent · Compensation (Chair) · Departed during FY | 60,000 | — | 269,472 | 0 | 0 | 329,472 |
| Paul AndrewsIndependent · Audit · Compensation | 60,000 | — | 269,472 | 0 | 0 | 329,472 |
| Hope S. TaitzIndependent · Audit · Compensation (Chair) · Partial-year service · Newly elected | 0 | — | 0 | 0 | 0 | 0 |
| Bob FarahiEmployee director · Partial-year service | 0 | — | 0 | — | 0 | 0 |
| John FarahiEmployee director · Board Chair · Partial-year service | 0 | — | 0 | — | 0 | 0 |
| Annual cash retainer | — |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 25,000 / 25,000 |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $195,000 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $0 |
| Total cost of the board | $195,000 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
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 | Monarch Casino & Resort, Inc. | 2025 | John Farahi | $750,000 | $0 | $2,629,081 | $0 | $3,610,936 |
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.
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.
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, John Farahi | DEF 14A | 2026-04-13 | 0001104659-26-042561 | Section “Summary Compensation Table”. As printed: 3,610,936. Filing ↗machine: t32 · r6 · c17 · span 312114–312123 |
| 2 | Section 01, Bob Farahi | DEF 14A | 2026-04-13 | 0001104659-26-042561 | Section “Summary Compensation Table”. As printed: 1,621,155. Filing ↗machine: t32 · span 329414–329423 |
| 3 | Section 01, Edwin Koenig | DEF 14A | 2026-04-13 | 0001104659-26-042561 | Section “Summary Compensation Table”. As printed: 497,152. Filing ↗machine: t32 · span 343008–343015 |
| 4 | Section 03, John Farahi OPTION | DEF 14A | 2026-04-13 | 0001104659-26-042561 | Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t32 · r6 · c11 · span 310641–310650 |
| 5 | Section 03, Bob Farahi OPTION | DEF 14A | 2026-04-13 | 0001104659-26-042561 | Section “Grants of Plan Based Awards Made in Fiscal Year 2025” · grants of plan-based awards table. Filing ↗machine: t37 · r12 · c10 · span 384957–384966 |
| 6 | Section 03, Edwin Koenig OPTION | DEF 14A | 2026-04-13 | 0001104659-26-042561 | Section “Grants of Plan Based Awards Made in Fiscal Year 2025” · grants of plan-based awards table. Filing ↗machine: t37 · r15 · c10 · span 393237–393244 |
| 7 | Section 07, pay ratio | DEF 14A | 2026-04-13 | 0001104659-26-042561 | Section “CEO Pay Ratio”. As printed: 62 : 1. Filing ↗machine: span 525778–525780 |
| 8 | Section 08, Craig F. Sullivan | DEF 14A | 2026-04-13 | 0001104659-26-042561 | Section “Director Compensation”. As printed: 344,472. Filing ↗machine: t74 · r5 · c10 · span 785783–785968 |
| 9 | Section 08, Yvette E. Landau | DEF 14A | 2026-04-13 | 0001104659-26-042561 | Section “Director Compensation”. As printed: 329,472. Filing ↗machine: t74 · r4 · c10 · span 783177–783362 |
| 10 | Section 08, Paul Andrews | DEF 14A | 2026-04-13 | 0001104659-26-042561 | Section “Director Compensation”. As printed: 329,472. Filing ↗machine: t74 · r6 · c10 · span 788585–788770 |
| 11 | Section 08, Hope S. Taitz | DEF 14A | 2026-04-13 | 0001104659-26-042561 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 12 | Section 08, Bob Farahi | DEF 14A | 2026-04-13 | 0001104659-26-042561 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 13 | Section 08, John Farahi | DEF 14A | 2026-04-13 | 0001104659-26-042561 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 14 | Section 02, Bob Farahi 2026-04-23 | Form 4 | 2026-04-24 | 0000907242-26-000009 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 15 | Section 02, Bob Farahi 2026-04-23 | Form 4 | 2026-04-24 | 0000907242-26-000009 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 16 | Section 02, Bob Farahi 2026-04-23 | Form 4 | 2026-04-24 | 0000907242-26-000009 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 17 | Section 02, Bob Farahi 2026-04-23 | Form 4 | 2026-04-24 | 0000907242-26-000009 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 18 | Section 02, John Farahi 2026-04-28 | Form 4 | 2026-04-30 | 0000907242-26-000011 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 19 | Section 02, John Farahi 2026-04-28 | Form 4 | 2026-04-30 | 0000907242-26-000011 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 20 | Section 02, John Farahi 2026-04-28 | Form 4 | 2026-04-30 | 0000907242-26-000011 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 21 | Section 02, John Farahi 2026-04-28 | Form 4 | 2026-04-30 | 0000907242-26-000011 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 22 | Section 02, John Farahi 2026-04-28 | Form 4 | 2026-04-30 | 0000907242-26-000011 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 23 | Section 02, John Farahi 2026-04-28 | Form 4 | 2026-04-30 | 0000907242-26-000011 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 24 | Section 02, John Farahi 2026-04-28 | Form 4 | 2026-04-30 | 0000907242-26-000011 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 25 | Section 02, John Farahi 2026-05-28 | Form 4 | 2026-05-29 | 0000907242-26-000012 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 26 | Section 02, Edwin Koenig 2026-06-30 | Form 4 | 2026-07-06 | 0000907242-26-000019 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 27 | Section 02, Craig F. Sullivan 2026-06-30 | Form 4 | 2026-07-06 | 0000907242-26-000017 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 28 | Section 02, Hope S. Taitz 2026-06-30 | Form 4 | 2026-07-07 | 0000907242-26-000020 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 29 | Section 02, Paul Andrews 2026-06-30 | Form 4 | 2026-07-02 | 0000907242-26-000014 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 30 | Section 02, John Farahi 2026-09-17 | Form 4 | 2026-09-21 | 0000907242-26-000021 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 31 | Section 06, 2026 vote | Form 8-K | 2026-05-29 | 0001104659-26-068313 | Item 5.07 · say-on-pay result. As reported: 97.89% (votes for as printed: 13,721,113). Filing ↗ |
| 32 | Section 06, 2025 vote | Form 8-K | 2025-06-10 | 0001558370-25-008509 | Item 5.07 · say-on-pay result. As reported: 94.4% (votes for as printed: 15,203,699). Filing ↗ |
| 33 | Section 06, 2024 vote | Form 8-K | 2024-05-28 | 0001558370-24-008688 | Item 5.07 · say-on-pay result. As reported: 97.36% (votes for as printed: 15,123,092). Filing ↗ |
| 34 | Section 01 trend, Δ column (computed) | Computed | — | — | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 35 | 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).machine: formula: sums + PSU ratio |
| 36 | Section 09b board cost (computed) | Computed | — | — | Cash 195,000 + equity 0 + all other 0 = 195,000, summed across the director compensation table rows.machine: formula: Σ = 195,000 |
| 37 | Monarch Casino & Resort, Inc. (subject), Section 10b CEO total | DEF 14A | 2026-04-13 | 0001104659-26-042561 | CEO total compensation as printed in Monarch Casino & Resort, Inc.'s own proxy. As printed: 3,610,936. Filing ↗machine: t32 · r6 · c17 · span 312114–312123 |
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