Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-05-22

Opendoor Technologies Inc. (OPND)

CEO Kaz Nejatian was paid $741,137,105 in fiscal year 2025, the 99th percentile of its disclosed peer group (SEC filing 0001140361-26-017460 ↗): 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.

$741,137,105
Kaz Nejatian total, FY2025
99th
CEO pay percentile vs peers
—
CEO-to-median pay ratio
—
Say-on-pay support, latest vote

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Companies that benchmark against OPND
1 company names OPND as a compensation peer

Each company listed discloses OPND 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 OPND 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
Kaz Nejatian$0$0$741,137,105$0$0$0$0$741,137,105
Chief Executive Officer
Giang LeGrice140,8331,000,00052,068,210000053,209,043
Chief Operating Officer
Christina Schwartz577,778020,793,899000263,30021,634,977
Chief Financial Officer
Lucas Matheson13,02109,342,38400009,355,405
President
Carrie Wheeler468,75004,159,110000287,0854,915,245
Former Chief Executive Officer
Shrisha Radhakrishna575,5561,000,000380,1370006001,956,293
Chief Technology & Product Officer and Former President and Interim Principal Executive Officer
Selim Freiha374,306525,000380,137000394,3001,673,743
Former Chief Financial Officer
Sydney Schaub399,167100,000863,2150004501,362,832
Former Chief Legal 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
Kaz Nejatian$741,137,105———
Giang LeGrice53,209,043———
Christina Schwartz21,634,9771,863,733777,042+19,771,244
Lucas Matheson9,355,405———
Carrie Wheeler4,915,245750,50017,566,265+4,164,745
Shrisha Radhakrishna1,956,293———
Selim Freiha1,673,7436,658,545—−4,984,802
Sydney Schaub1,362,8321,862,252525,000−499,420

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

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Selim FreihaPSU2025-03-13171,233342,466—684,932$380,137
Kaz NejatianPSU2025-09-15—40,886,344——366,811,835
Kaz NejatianPSU2025-09-15—40,886,344——359,317,368
Kaz NejatianRSU2025-09-15——1,580,611—15,007,901
Shrisha RadhakrishnaPSU2025-03-13171,233342,466—684,932380,137
Sydney SchaubPSU2025-03-13143,836287,671—575,342319,315
Sydney SchaubRSU———490,000—543,900
Carrie WheelerRSU2025-03-27——1,500,000—1,755,000
Carrie WheelerPSU2025-03-271,027,3982,054,795—4,109,5902,404,110
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Selim Freiha$0$380,137$0100.0%
Kaz Nejatian15,007,901726,129,203098.0%
Shrisha Radhakrishna0380,1370100.0%
Sydney Schaub543,900319,315037.0%
Carrie Wheeler1,755,0002,404,110057.8%

% 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
Giang LeGricePSU3,600,000—$20,988,000
Giang LeGricePSU4,100,000—23,903,000
Kaz NejatianPSU40,886,344—238,367,386
Shrisha RadhakrishnaRSU2,847,500—16,600,925
Christina SchwartzPSU1,695,000—9,881,850
Kaz NejatianRSU1,580,611—9,214,962
Lucas MathesonPSU854,153—4,979,712
Lucas MathesonRSU854,153—4,979,712
Giang LeGriceRSU500,000—2,915,000
Christina SchwartzRSU267,095—1,557,164
05

Incentive-plan design — the Compensation Discussion & Analysis

Our compensation programs are designed to attract, retain and motivate our employees by ensuring that such programs are aligned to the market, are scalable and flexible, and are simple and clear. We focus on a pay-for-performance philosophy where a significant portion of compensation is at-risk based on company performance, stock price, and total stockholder return to align executive interests with stockholders and promote sustainable long-term value creation.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantCompensia, Inc.
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Pueo KefferIndependent · Departed during FY$72,850$60,717——$528,500$662,067
Dana HamiltonIndependent · Nominating (Chair)70,00060,835———130,835
Glenn SolomonIndependent · Departed during FY65,00060,598———125,598
Adam BainIndependent · Audit and Risk · Nominating62,50060,478———122,978
Eric FederIndependent · Lead Independent Director · Compensation (Chair)64,34957,500———121,849
David BensonIndependent · Audit and Risk (Chair)63,09657,500———120,596
Cipora HermanIndependent · Departed during FY70,0003,335———73,335
John RiceIndependent · Not standing for re-election · Departed during FY36,219————36,219
Keith RaboisIndependent · Board Chair · Audit and Risk · Compensation28,447————28,447
Eric WuNot independent15,377————15,377
09

Board fee structure and ownership guideline

Annual cash retainer$50,000
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$250,000
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$547,838
Equity awards (grant-date value)$360,963
All other compensation$528,500
Total cost of the board$1,437,301

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 Opendoor Technologies Inc. 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 Opendoor Technologies Inc..

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
1Opendoor Technologies Inc.2025Kaz Nejatian$0$741,137,105$0$0$741,137,105
2Wayfair2025Niraj Shah80,000280,557,50000280,847,068
3Chewy2025Sumit Singh1,200,00020,004,00203,183,48025,721,751
4Insperity2025Paul Sarvadi1,206,00014,558,89301,019,68416,813,013
5Carvana Co.2025Ernest C. Garcia, III961,6747,419,121008,382,555
6Anywhere Real Estate2024Ryan Schneider1,000,0004,891,94602,310,0008,214,486
7Zillow Group2025Jeremy Wacksman850,2664,006,8002,249,53607,138,557
8LendingClub2025Scott Sanborn575,0002,690,86501,004,8134,823,478
9Hertz Global Holdings2025Wayne West1,500,000003,003,7504,524,371
10Frontier Group Holdings2025James Dempsey655,0742,699,9870872,8864,237,766
11Lyft2025David Risher725,000001,871,6252,824,088
12Redfin2023Glenn Kelman300,000000300,000
—eXp World Holdings——————not in coverage universe
—Compass——————not in coverage universe

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
Opendoor Technologies Inc.not disclosednot disclosednot disclosedCompensia, Inc.
Anywhere Real Estate115.5%PSU 60 · RSU 40NoMeridian
Carvana Co.not disclosedRSU 100not disclosedKorn Ferry
Chewy176.86%RSU 50 · PSU 50NoSemler Brossy
Compass200%RSU 100NoSemler Brossy Consulting Group, LLC
eXp World Holdingsnot disclosednot disclosednot disclosednot disclosed
Frontier Group Holdingsnot disclosednot disclosednot disclosedWillis Towers Watson
Hertz Global Holdingsnot disclosedRSU 50 · PSU 50not disclosedFW Cook
Insperitynot disclosedPSU 65 · RSU 35not disclosedFW Cook
LendingClub116.5%PSU 41 · RSU 34 · Cash LTI 25Yes — Relative TSRFW Cook
Lyft108.5%PSU 50 · RSU 50NoPay Governance
Redfin10%PSU 62.5 · RSU 37.5not disclosedCompensia
Wayfairnot disclosednot disclosedNoCompensia
Zillow Groupnot disclosednot disclosednot disclosedEquilar

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.

FAQ

Frequently asked questions

Who was the highest-paid executive at Opendoor Technologies Inc. in fiscal 2025?
As disclosed, Kaz Nejatian, the Chief Executive Officer, was the highest-paid executive at Opendoor Technologies Inc. in fiscal 2025 with total compensation of $741,137,105.
How does Opendoor Technologies Inc.'s chief executive pay compare to its disclosed peer group?
The filing shows that the chief executive's pay sits at the 99th percentile of the disclosed peer group.
What is Opendoor Technologies Inc.'s CEO-to-median employee pay ratio?
The CEO-to-median employee pay ratio is not disclosed in this filing.
How did shareholders vote on Opendoor Technologies Inc.'s executive compensation?
The latest say-on-pay shareholder vote result is not disclosed in this filing.
How much does Opendoor Technologies Inc. spend in total on board compensation for fiscal 2025?
As disclosed, total board compensation for fiscal 2025 was $1,437,301.

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, Kaz NejatianDEF 14A2026-04-280001140361-26-017460Section “Summary Compensation Table”. As printed: 741,137,105. Filing ↗machine: r2 · c19 · span 1021122–1021133
2Section 01, Giang LeGriceDEF 14A2026-04-280001140361-26-017460Section “Summary Compensation Table”. As printed: 53,209,043. Filing ↗machine: r7 · c19 · span 1040151–1040161
3Section 01, Christina SchwartzDEF 14A2026-04-280001140361-26-017460Section “Summary Compensation Table”. As printed: 21,634,977. Filing ↗machine: r3 · c19 · span 1025422–1025432
4Section 01, Lucas MathesonDEF 14A2026-04-280001140361-26-017460Section “Summary Compensation Table”. As printed: 9,355,405. Filing ↗machine: r6 · c19 · span 1036026–1036035
5Section 01, Carrie WheelerDEF 14A2026-04-280001140361-26-017460Section “Summary Compensation Table”. As printed: 4,915,245. Filing ↗machine: r9 · c19 · span 1048195–1048204
6Section 01, Shrisha RadhakrishnaDEF 14A2026-04-280001140361-26-017460Section “Summary Compensation Table”. As printed: 1,956,293. Filing ↗machine: r8 · c19 · span 1043885–1043894
7Section 01, Selim FreihaDEF 14A2026-04-280001140361-26-017460Section “Summary Compensation Table”. As printed: 1,673,743. Filing ↗machine: r12 · c19 · span 1058908–1058917
8Section 01, Sydney SchaubDEF 14A2026-04-280001140361-26-017460Section “Summary Compensation Table”. As printed: 1,362,832. Filing ↗machine: r14 · c19 · span 1066248–1066257
9Section 03, Selim Freiha PSUDEF 14A2026-04-280001140361-26-017460Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1208352–1208359
10Section 03, Kaz Nejatian PSUDEF 14A2026-04-280001140361-26-017460Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1108141–1108152
11Section 03, Kaz Nejatian PSUDEF 14A2026-04-280001140361-26-017460Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1113516–1113527
12Section 03, Kaz Nejatian RSUDEF 14A2026-04-280001140361-26-017460Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1118925–1118935
13Section 03, Shrisha Radhakrishna PSUDEF 14A2026-04-280001140361-26-017460Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1178520–1178527
14Section 03, Sydney Schaub PSUDEF 14A2026-04-280001140361-26-017460Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1221187–1221194
15Section 03, Sydney Schaub RSUDEF 14A2026-04-280001140361-26-017460Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1226700–1226707
16Section 03, Carrie Wheeler RSUDEF 14A2026-04-280001140361-26-017460Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1197412–1197421
17Section 03, Carrie Wheeler PSUDEF 14A2026-04-280001140361-26-017460Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1191106–1191115
18Section 08, Pueo KefferDEF 14A2026-04-280001140361-26-017460Section “Director Compensation”. As printed: 662,067. Filing ↗machine: span 1545384–1545563
19Section 08, Dana HamiltonDEF 14A2026-04-280001140361-26-017460Section “Director Compensation”. As printed: 130,835. Filing ↗machine: span 1540187–1540366
20Section 08, Glenn SolomonDEF 14A2026-04-280001140361-26-017460Section “Director Compensation”. As printed: 125,598. Filing ↗machine: span 1553110–1553289
21Section 08, Adam BainDEF 14A2026-04-280001140361-26-017460Section “Director Compensation”. As printed: 122,978. Filing ↗machine: span 1532319–1532498
22Section 08, Eric FederDEF 14A2026-04-280001140361-26-017460Section “Director Compensation”. As printed: 121,849. Filing ↗machine: span 1537446–1537625
23Section 08, David BensonDEF 14A2026-04-280001140361-26-017460Section “Director Compensation”. As printed: 120,596. Filing ↗machine: span 1535059–1535238
24Section 08, Cipora HermanDEF 14A2026-04-280001140361-26-017460Section “Director Compensation”. As printed: 73,335. Filing ↗machine: span 1542633–1542854
25Section 08, John RiceDEF 14A2026-04-280001140361-26-017460Section “Director Compensation”. As printed: 36,219. Filing ↗machine: span 1548933–1549110
26Section 08, Keith RaboisDEF 14A2026-04-280001140361-26-017460Section “Director Compensation”. As printed: 28,447. Filing ↗machine: span 1546341–1546518
27Section 08, Eric WuDEF 14A2026-04-280001140361-26-017460Section “Director Compensation”. As printed: 15,377. Filing ↗machine: span 1554124–1554301
28Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
29Section 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
30Section 09b board cost (computed)Computed——Cash 547,838 + equity 360,963 + all other 528,500 = 1,437,301, summed across the director compensation table rows.machine: formula: Σ = 1,437,301
31Opendoor Technologies Inc. (subject), Section 10b CEO totalDEF 14A2026-04-280001140361-26-017460CEO total compensation as printed in Opendoor Technologies Inc.'s own proxy. As printed: 741,137,105. Filing ↗machine: r2 · c19 · span 1021122–1021133
32Wayfair, Section 10b CEO totalDEF 14A2026-03-310001616707-26-000074CEO total compensation as printed in Wayfair's own proxy. As printed: 280,847,068. Filing ↗machine: t137 · r2 · c15 · span 682385–682396
33Chewy, Section 10b CEO totalDEF 14A2026-05-220001140361-26-022529CEO total compensation as printed in Chewy's own proxy. As printed: 25,721,751. Filing ↗machine: r2 · c19 · span 771274–771284
34Insperity, Section 10b CEO totalDEF 14A2026-04-140001000753-26-000043CEO total compensation as printed in Insperity's own proxy. As printed: 16,813,013. Filing ↗machine: r2 · c21 · span 631849–631859
35Carvana Co., Section 10b CEO totalDEF 14A2026-03-250001690820-26-000024CEO total compensation as printed in Carvana Co.'s own proxy. As printed: 8,382,555. Filing ↗machine: t63 · r3 · c17 · span 494349–494358
36Anywhere Real Estate, Section 10b CEO totalDEF 14A2025-03-240001398987-25-000047CEO total compensation as printed in Anywhere Real Estate's own proxy. As printed: 8,214,486. Filing ↗machine: r2 · c24 · span 1501922–1501931
37Zillow Group, Section 10b CEO totalDEF 14A2026-04-150001617640-26-000031CEO total compensation as printed in Zillow Group's own proxy. As printed: 7,138,557. Filing ↗machine: r2 · c39 · span 618709–618718
38LendingClub, Section 10b CEO totalDEF 14A2026-04-210001140361-26-015923CEO total compensation as printed in LendingClub's own proxy. As printed: 4,823,478. Filing ↗machine: r2 · c25 · span 802228–802237
39Hertz Global Holdings, Section 10b CEO totalDEF 14A2026-04-160001104659-26-044356CEO total compensation as printed in Hertz Global Holdings's own proxy. As printed: 4,524,371. Filing ↗machine: r1 · c30 · span 1099924–1099933
40Frontier Group Holdings, Section 10b CEO totalDEF 14A2026-04-020001670076-26-000039CEO total compensation as printed in Frontier Group Holdings's own proxy. As printed: 4,237,766. Filing ↗machine: r7 · c24 · span 597589–597598
41Lyft, Section 10b CEO totalDEF 14A2026-04-100001628280-26-024680CEO total compensation as printed in Lyft's own proxy. As printed: 2,824,088. Filing ↗machine: t25 · r2 · c12 · span 578611–578620
42Redfin, Section 10b CEO totalDEF 14A2024-04-250001382821-24-000045CEO total compensation as printed in Redfin's own proxy. As printed: 300,000. Filing ↗machine: r2 · c42 · span 438234–438241
43Section 10a, Chewy reciprocityDEF 14A—0001140361-26-022529Chewy's most recent proxy was read; its disclosed peer group does not include Opendoor Technologies Inc.. Filing ↗
44Section 10a, Insperity reciprocityDEF 14A—0001000753-26-000043Insperity's most recent proxy was read; its disclosed peer group does not include Opendoor Technologies Inc.. Filing ↗
45Section 10a, Anywhere Real Estate reciprocityDEF 14A—0001398987-25-000047Anywhere Real Estate's most recent proxy was read; its disclosed peer group does not include Opendoor Technologies Inc.. Filing ↗
46Section 10a, Hertz Global Holdings reciprocityDEF 14A—0001104659-26-044356Hertz Global Holdings's most recent proxy was read; its disclosed peer group does not include Opendoor Technologies Inc.. Filing ↗
47Section 10a, Lyft reciprocityDEF 14A—0001628280-26-024680Lyft's most recent proxy was read; its disclosed peer group does not include Opendoor Technologies Inc.. Filing ↗
48Section 10a, LendingClub reciprocityDEF 14A—0001140361-26-015923LendingClub's most recent proxy was read; its disclosed peer group does not include Opendoor Technologies Inc.. Filing ↗
49Section 10a, Frontier Group Holdings reciprocityDEF 14A—0001670076-26-000039Frontier Group Holdings's most recent proxy was read; its disclosed peer group does not include Opendoor Technologies Inc.. Filing ↗
50Section 10a, Redfin reciprocityDEF 14A—0001382821-24-000045Redfin's most recent proxy was read; its disclosed peer group does not include Opendoor Technologies Inc.. Filing ↗
51Section 10a, Carvana Co. reciprocityDEF 14A—0001690820-26-000024Carvana Co.'s most recent proxy was read; its disclosed peer group does not include Opendoor Technologies Inc.. Filing ↗
52Section 10a, Compass reciprocityDEF 14A—0001563190-26-000084Compass's most recent proxy was read; its disclosed peer group does not include Opendoor Technologies Inc.. Filing ↗

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