Velarion · Company Intelligence
Compensation Brief
Fiscal year 2023 · Filings through 2025-03-18

Stronghold Digital Mining (SDIG)

CEO Gregory Beard was paid $1,508,103 in fiscal year 2023, ↑ up 205.5% from fiscal year 2022 (SEC filing 0001140361-24-022864 ↗): 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.

$1,508,103 ↑
Gregory Beard total, FY2023
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CEO pay percentile vs peers
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CEO-to-median pay ratio
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01

Summary Compensation Table — fiscal year 2023

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Gregory Beard$600,000$499,603$408,500$0$0$0$0$1,508,103
Chief Executive Officer and Chairman
Matthew Smith300,000450,000285,00000001,054,731
Chief Financial Officer
Richard Shaffer163,32735,00059,37500010,876268,579
Senior Vice President, Asset Management

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 officerFY2023 totalFY2022 totalFY2021 totalΔ FY2022→2023
Gregory Beard$1,508,103$493,615—↑ +1,014,488
Matthew Smith1,054,7311,644,809—↓ −590,078
Richard Shaffer268,579269,529—↓ −950

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 SDIG
No companies currently name SDIG as a compensation peer in their most recent disclosure.

This is the complete answer, not a partial one — the list is never padded.

01b

Executives — the named officers

One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.

ExecutiveRoleFY2023 total
Gregory BeardCEO$1,508,103
Richard ShafferSVP$268,579
Matthew SmithCFO$1,054,731
01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2023 total
Bill SpenceFormer director (through FY2024)$2,481,667
Indira AgarwalIndependent Director$235,840
Sarah P. JamesIndependent Director$229,590
Thomas DohertyIndependent Director$136,667
Thomas J. PacchiaLead Independent Director$224,590
Thomas R. Trowbridge, IVIndependent Director$224,590
02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2023 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Gregory A. BeardDirector2024-12-23A119,047$5$599,997CommonForm 4 ↗
Gregory A. BeardDirector2024-12-23D14,201454,674CommonForm 4 ↗
Gregory A. BeardDirector2024-12-24D49,7504199,478CommonForm 4 ↗
Ryan M. WeberPrincipal Accounting Officer2025-01-10D2,900410,747CommonForm 4 ↗
Ryan M. WeberPrincipal Accounting Officer2025-01-10A25,000497,000CommonForm 4 ↗
Thomas DohertyDirector2025-01-10A5,176525,000CommonForm 4 ↗
Indira AgarwalDirector2025-01-10A5,176525,000CommonForm 4 ↗
Thomas R. Trowbridge, IVDirector2025-01-10A5,176524,948CommonForm 4 ↗
Gregory A. BeardDirector2025-01-10A28,0284108,749CommonForm 4 ↗
Richard ShafferSenior Vice President2025-01-10D1,33944,914CommonForm 4 ↗
Thomas J. PacchiaDirector2025-01-10A5,176525,000CommonForm 4 ↗
Sarah P. JamesDirector2025-01-10A5,176525,000CommonForm 4 ↗
Gregory A. BeardDirector2025-01-10D12,210445,315CommonForm 4 ↗
Richard ShafferSenior Vice President2025-01-30D364129CommonForm 4 ↗
Gregory A. BeardDirector2025-03-11A500,00000CommonForm 4 ↗
Richard ShafferSenior Vice President2025-03-14D22,541——CommonForm 4 ↗
Thomas J. PacchiaDirector2025-03-14D67,226——CommonForm 4 ↗
Ryan M. WeberPrincipal Accounting Officer2025-03-14D56,778——CommonForm 4 ↗
Gregory A. BeardDirector2025-03-14D2,405,760——Derivative, Class A CommonForm 4 ↗
Gregory A. BeardDirector2025-03-14D100,000——Derivative, Class A CommonForm 4 ↗
Gregory A. BeardDirector2025-03-14A2,405,760——CommonForm 4 ↗
Sarah P. JamesDirector2025-03-14D69,842——CommonForm 4 ↗
Indira AgarwalDirector2025-03-14D57,059——CommonForm 4 ↗
Thomas DohertyDirector2025-03-14D36,674——CommonForm 4 ↗
Gregory A. BeardDirector2025-03-14D60,241——Derivative, Class A CommonForm 4 ↗
Gregory A. BeardDirector2025-03-14D2,407,200——CommonForm 4 ↗
Gregory A. BeardDirector2025-03-14D2,405,760——CommonForm 4 ↗
Gregory A. BeardDirector2025-03-14D802,110——CommonForm 4 ↗
Thomas R. Trowbridge, IVDirector2025-03-14D65,944——CommonForm 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 2023

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Gregory BeardOTHER—————$408,500
Richard ShafferOTHER—————59,375
Matthew SmithOTHER—————285,000
03b

Vehicle mix — grant-date fair value by award type

Grant-level vehicle detail not disclosed.

% 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 2023

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Matthew SmithRSU131,946—$963,206
Gregory BeardRSU200,000—14,600,000
Richard ShafferRSU28,129—205,342
05

Incentive-plan design — the Compensation Discussion & Analysis

The purpose of the OIP is to attract, retain and motivate qualified persons as employees, directors and consultants of the Company and its affiliates. The OIP also provides a means through which such persons can acquire and maintain stock ownership or awards, the value of which is tied to the performance of the Company

CEO STI target (% of salary)100%
CEO LTI target (% of salary)—
Independent consultantnot disclosed
Clawback policytrue
Anti-hedgingtrue
Anti-pledging—
08

Director compensation — fiscal year 2023

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Bill SpenceNot independent · Departed during FY$0$2,225,000$0$0$256,667$2,481,667
Indira AgarwalIndependent · Audit (Chair) · Compensation75,000160,840000235,840
Sarah P. JamesIndependent · Nominating/Governance (Chair)68,750160,840000229,590
Thomas J. PacchiaIndependent · Lead Independent Director · Audit · Compensation (Co-Chair)63,750160,840000224,590
Thomas R. Trowbridge, IVIndependent · Compensation (Co-Chair) · Nominating/Governance63,750160,840000224,590
Thomas DohertyIndependent · Audit · Nominating/Governance · Newly elected55,00081,667000136,667
Gregory A. BeardEmployee director · Board Chair000—00
Matthew J. SmithEmployee director000—00
09

Board fee structure and ownership guideline

Annual cash retainer$55,000
Annual equity retainer$160,840
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)13,750 / 20,000 / 8,750
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2023
Cash retainers and fees$326,250
Equity awards (grant-date value)$2,950,027
All other compensation$256,667
Total cost of the board$3,532,944

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
1Stronghold Digital Mining2023Gregory Beard$600,000$408,500$0$0$1,508,103

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.

10d

Frequently asked questions

Who was the highest-paid executive at Stronghold Digital Mining in fiscal 2023?
As disclosed, Gregory Beard (Chief Executive Officer and Chairman) was the highest-paid executive at Stronghold Digital Mining in fiscal 2023, with total compensation of $1,508,103.
How much does Stronghold Digital Mining spend in total on board compensation for fiscal 2023?
As disclosed, Stronghold Digital Mining reported total board compensation of $3,532,944 for fiscal 2023.

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, Gregory BeardDEF 14A2024-04-290001140361-24-022864Section “Summary Compensation Table”. As printed: 1,508,103. Filing ↗machine: t81 · r1 · c18 · span 277186–277196
2Section 01, Matthew SmithDEF 14A2024-04-290001140361-24-022864Section “Summary Compensation Table”. As printed: 1,054,731. Filing ↗machine: t81 · r3 · c18 · span 284569–284579
3Section 01, Richard ShafferDEF 14A2024-04-290001140361-24-022864Section “Summary Compensation Table”. As printed: 268,579. Filing ↗machine: t81 · r5 · c18 · span 291929–291936
4Section 03, Gregory Beard OTHERDEF 14A2024-04-290001140361-24-022864Section “TABLE OF CONTENTS EXECUTIVE AND DIRECTOR COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t81 · r1 · c12 · span 275913–275920
5Section 03, Richard Shaffer OTHERDEF 14A2024-04-290001140361-24-022864Section “TABLE OF CONTENTS EXECUTIVE AND DIRECTOR COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t81 · r5 · c12 · span 290685–290691
6Section 03, Matthew Smith OTHERDEF 14A2024-04-290001140361-24-022864Section “TABLE OF CONTENTS EXECUTIVE AND DIRECTOR COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t81 · r3 · c12 · span 283476–283483
7Section 08, Bill SpenceDEF 14A2024-04-290001140361-24-022864Section “Director Compensation”. As printed: 2,481,667. Filing ↗machine: t91 · r6 · c12 · span 374633–374794
8Section 08, Indira AgarwalDEF 14A2024-04-290001140361-24-022864Section “Director Compensation”. As printed: 235,840. Filing ↗machine: t91 · r1 · c12 · span 361531–361741
9Section 08, Sarah P. JamesDEF 14A2024-04-290001140361-24-022864Section “Director Compensation”. As printed: 229,590. Filing ↗machine: t91 · r3 · c12 · span 366852–367062
10Section 08, Thomas J. PacchiaDEF 14A2024-04-290001140361-24-022864Section “Director Compensation”. As printed: 224,590. Filing ↗machine: t91 · r4 · c12 · span 369341–369551
11Section 08, Thomas R. Trowbridge, IVDEF 14A2024-04-290001140361-24-022864Section “Director Compensation”. As printed: 224,590. Filing ↗machine: r5 · c12 · span 372184–372393
12Section 08, Thomas DohertyDEF 14A2024-04-290001140361-24-022864Section “Director Compensation”. As printed: 136,667. Filing ↗machine: t91 · r2 · c12 · span 364023–364225
13Section 08, Gregory A. BeardDEF 14A2024-04-290001140361-24-022864Section “Director Compensation”. As printed: 0. Filing ↗
14Section 08, Matthew J. SmithDEF 14A2024-04-290001140361-24-022864Section “Director Compensation”. As printed: 0. Filing ↗
15Section 02, Gregory A. Beard 2024-12-23Form 42025-01-140001856028-25-000009Insider equity transaction reported since the proxy statement. Filing ↗
16Section 02, Gregory A. Beard 2024-12-23Form 42025-01-140001856028-25-000009Insider equity transaction reported since the proxy statement. Filing ↗
17Section 02, Gregory A. Beard 2024-12-24Form 42025-01-140001856028-25-000009Insider equity transaction reported since the proxy statement. Filing ↗
18Section 02, Ryan M. Weber 2025-01-10Form 42025-01-130001856028-25-000005Insider equity transaction reported since the proxy statement. Filing ↗
19Section 02, Ryan M. Weber 2025-01-10Form 42025-01-130001856028-25-000005Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, Thomas Doherty 2025-01-10Form 42025-01-130001856028-25-000002Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, Indira Agarwal 2025-01-10Form 42025-01-130001856028-25-000004Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Thomas R. Trowbridge, IV 2025-01-10Form 42025-01-130001856028-25-000007Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Gregory A. Beard 2025-01-10Form 42025-01-140001856028-25-000008Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Richard Shaffer 2025-01-10Form 42025-01-130001856028-25-000001Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Thomas J. Pacchia 2025-01-10Form 42025-01-130001856028-25-000003Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Sarah P. James 2025-01-10Form 42025-01-130001856028-25-000006Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Gregory A. Beard 2025-01-10Form 42025-01-140001856028-25-000008Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Richard Shaffer 2025-01-30Form 42025-02-050001856028-25-000010Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Gregory A. Beard 2025-03-11Form 42025-03-180001140361-25-009308Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Richard Shaffer 2025-03-14Form 42025-03-180001140361-25-009309Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Thomas J. Pacchia 2025-03-14Form 42025-03-180001140361-25-009313Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Ryan M. Weber 2025-03-14Form 42025-03-180001140361-25-009307Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Gregory A. Beard 2025-03-14Form 42025-03-180001140361-25-009308Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Gregory A. Beard 2025-03-14Form 42025-03-180001140361-25-009308Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Gregory A. Beard 2025-03-14Form 42025-03-180001140361-25-009308Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Sarah P. James 2025-03-14Form 42025-03-180001140361-25-009311Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Indira Agarwal 2025-03-14Form 42025-03-180001140361-25-009310Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Thomas Doherty 2025-03-14Form 42025-03-180001140361-25-009312Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Gregory A. Beard 2025-03-14Form 42025-03-180001140361-25-009308Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Gregory A. Beard 2025-03-14Form 42025-03-180001140361-25-009308Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Gregory A. Beard 2025-03-14Form 42025-03-180001140361-25-009308Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Gregory A. Beard 2025-03-14Form 42025-03-180001140361-25-009308Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, Thomas R. Trowbridge, IV 2025-03-14Form 42025-03-180001140361-25-009314Insider equity transaction reported since the proxy statement. Filing ↗
44Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
45Section 09b board cost (computed)Computed——Cash 326,250 + equity 2,950,027 + all other 256,667 = 3,532,944, summed across the director compensation table rows.machine: formula: Σ = 3,532,944
46Stronghold Digital Mining (subject), Section 10b CEO totalDEF 14A2024-04-290001140361-24-022864CEO total compensation as printed in Stronghold Digital Mining's own proxy. As printed: 1,508,103. Filing ↗machine: t81 · r1 · c18 · span 277186–277196

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