Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-08-18

Pagaya Technologies (PGY)

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.

$4,970,712
Sanjiv Das total, FY2025
Presidenthighest-paid officer; CEO Avital Pardo: $1,555,047
CEO (Avital Pardo) pay percentile vs peers
13:1
CEO-to-median pay ratio
97.82%
Say-on-pay support, latest vote
Companies that benchmark against PGY
1 company names PGY as a compensation peer

Each company listed discloses PGY 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 PGY 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
Sanjiv Das$1,400,000$0$1,945,600$0$1,600,000$0$25,112$4,970,712
President
Evangelos Perros650,00001,689,60001,000,000011,7423,351,342
Named Executive Officer
Tami Rosen650,00001,280,0000300,0000126,2112,356,211
Chief Development Officer
Avital Pardo982,121000400,0000172,9261,555,047
Deputy Chief Executive Officer
Jonathan Dobres
Chief Financial 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 FY20242025
Sanjiv Das$4,970,712
Evangelos Perros3,351,342
Tami Rosen2,356,211
Avital Pardo1,555,047
Jonathan Dobres

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.

05

Incentive-plan design — the Compensation Discussion & Analysis

Our executive compensation program is designed with the intention of (i) attracting, motivating and retaining highly qualified executive officers in a competitive market, (ii) providing compensation to our executives that is competitive and rewarding the achievement of challenging business objectives; and (iii) aligning our executive officers' interests with those of our shareholders by providing a significant portion of total compensation in the form of equity awards.

CEO STI target (% of salary)100%
CEO LTI target (% of salary)
Independent consultantSemler Brossy
Clawback policy
Anti-hedgingTrue
Anti-pledgingFalse
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-08-17127,798,7892,848,649131,41397.82%Passed
20252025-06-09141,170,0045,142,265892,50796.49%Passed
20242024-12-11156,753,481471,65453,06899.7%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-08-1797.82%a
20252025-06-0996.49%b
20242024-12-1199.7%c

a. Approved under the standard stated in the filing — “Abstentions and broker non-votes are not considered to be votes cast and, accordingly, will have no effect on the outcome of the vote on this proposal.”.

b. Approved under the standard stated in the filing — “Abstentions and broker non-votes are not considered to be votes cast and, accordingly, will have no effect on the outcome of the vote on these proposals.”.

c. Approved under the standard stated in the filing — “Abstentions and broker non-votes are not considered to be votes cast and, accordingly, 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)13 : 1
CEO total compensation$1,555,047
Median employee compensation
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Avi ZeeviIndependent · Board Chair · Audit and Finance (Chair) · Compensation (Chair) · Nominating and Corporate Governance (Chair)$250,000$300,000$0$0$550,000
Dan PetrozzoIndependent · Audit and Finance · Compensation · Risk (Chair)50,000300,00000350,000
Asheet MehtaIndependent · Risk40,000300,00000340,000
Alison DavisIndependent · Audit and Finance40,000300,00000340,000
Harvey GolubIndependent · Audit and Finance · Nominating and Corporate Governance · Risk40,000300,00000340,000
Tami RosenEmployee director · Risk00000
Avital PardoEmployee director00000
Yahav YulzariEmployee director00000
Gal KrubinerEmployee director00000
Jason GardnerIndependent · Nominating and Corporate Governance · Newly elected
09

Board fee structure and ownership guideline

Annual cash retainer$40,000
Annual equity retainer$300,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$420,000
Equity awards (grant-date value)$1,500,000
All other compensation$0
Total cost of the board$1,920,000

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

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
1Pagaya Technologies2025Avital Pardo$982,121$0$0$400,000$1,555,047

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.

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, Sanjiv DasDEF 14A2026-07-060001883085-26-000039Section “Executive Compensation”. As printed: 4,970,712. Filing ↗
2Section 01, Evangelos PerrosDEF 14A2026-07-060001883085-26-000039Section “Executive Compensation”. As printed: 3,351,342. Filing ↗
3Section 01, Tami RosenDEF 14A2026-07-060001883085-26-000039Section “Executive Compensation”. As printed: 2,356,211. Filing ↗
4Section 01, Avital PardoDEF 14A2026-07-060001883085-26-000039Section “Executive Compensation”. As printed: 1,555,047. Filing ↗
5Section 01, Jonathan DobresDEF 14A2026-07-060001883085-26-000039Section “Executive Compensation”. As printed: —. Filing ↗
6Section 07, pay ratioDEF 14A2026-07-060001883085-26-000039Section “CEO Pay Ratio”. As printed: 13 : 1. Filing ↗
7Section 08, Avi ZeeviDEF 14A2026-07-060001883085-26-000039Section “Director Compensation”. As printed: 550,000. Filing ↗
8Section 08, Dan PetrozzoDEF 14A2026-07-060001883085-26-000039Section “Director Compensation”. As printed: 350,000. Filing ↗
9Section 08, Asheet MehtaDEF 14A2026-07-060001883085-26-000039Section “Director Compensation”. As printed: 340,000. Filing ↗
10Section 08, Alison DavisDEF 14A2026-07-060001883085-26-000039Section “Director Compensation”. As printed: 340,000. Filing ↗
11Section 08, Harvey GolubDEF 14A2026-07-060001883085-26-000039Section “Director Compensation”. As printed: 340,000. Filing ↗
12Section 08, Tami RosenDEF 14A2026-07-060001883085-26-000039Section “Director Compensation”. As printed: 0. Filing ↗
13Section 08, Avital PardoDEF 14A2026-07-060001883085-26-000039Section “Director Compensation”. As printed: 0. Filing ↗
14Section 08, Yahav YulzariDEF 14A2026-07-060001883085-26-000039Section “Director Compensation”. As printed: 0. Filing ↗
15Section 08, Gal KrubinerDEF 14A2026-07-060001883085-26-000039Section “Director Compensation”. As printed: 0. Filing ↗
16Section 08, Jason GardnerDEF 14A2026-07-060001883085-26-000039Section “Director Compensation”. As printed: —. Filing ↗
17Section 06, 2026 voteForm 8-K2026-08-180001628280-26-057738Item 5.07 · say-on-pay result. As reported: 97.82% (votes for as printed: 127,798,789). Filing ↗machine: span 3210–3221
18Section 06, 2025 voteForm 8-K2025-06-110001883085-25-000100Item 5.07 · say-on-pay result. As reported: 96.49% (votes for as printed: 141,170,004). Filing ↗
19Section 06, 2024 voteForm 8-K2024-12-120001883085-24-000202Item 5.07 · say-on-pay result. As reported: 99.7% (votes for as printed: 156,753,481). Filing ↗
20Section 09b board cost (computed)ComputedcomputedCash 420,000 + equity 1,500,000 + all other 0 = 1,920,000, summed across the director compensation table rows.machine: formula: Σ = 1,920,000
21Pagaya Technologies (subject), Section 10b CEO totalDEF 14A2026-07-060001883085-26-000039CEO total compensation as printed in Pagaya Technologies's own proxy. As printed: 1,555,047. Filing ↗