CEO Tobias Lütke was paid $35,000,027 in fiscal year 2025 (SEC filing 0001594805-26-000011 ↗): 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.
$35,000,027 Tobias Lütke total, FY2025 | — CEO pay percentile vs peers | — CEO-to-median pay ratio | 81.24% Say-on-pay support, latest vote |
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SHOP's next annual pay disclosure, estimated April 29, 2027.est. Filing ↗
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Tobias Lütke | $1 | $0 | $0 | $35,000,026 | $0 | $0 | $0 | $35,000,027 |
| CEO & Head of R&D | ||||||||
| Kasra Nejatian | 600,000 | 0 | 3,900,183 | 11,250,039 | 0 | 0 | 0 | 15,750,222 |
| Former COO & VP Product | ||||||||
| Jessica Hertz | 1,000,000 | 0 | 8,250,119 | 2,750,051 | 0 | 0 | 0 | 12,000,170 |
| COO | ||||||||
| Jeff Hoffmeister | 1,000,000 | 0 | 4,750,018 | 4,750,063 | 0 | 0 | 0 | 10,500,081 |
| CFO | ||||||||
| Harley Finkelstein | 1,018,193 | 0 | 3,250,066 | 3,250,054 | 0 | 0 | 0 | 7,518,313 |
| President | ||||||||
| Jean Niehaus | 451,250 | 0 | 1,024,999 | 41,727 | 0 | 0 | 0 | 1,517,976 |
| General Counsel | ||||||||
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 |
|---|---|---|---|---|
| Tobias Lütke | $35,000,027 | — | — | — |
| Kasra Nejatian | 15,750,222 | 1,000,239 | — | ↑ +14,749,983 |
| Jessica Hertz | 12,000,170 | 13,400,133 | — | ↓ −1,399,963 |
| Jeff Hoffmeister | 10,500,081 | 19,700,135 | 1,000,000 | ↓ −9,200,054 |
| Harley Finkelstein | 7,518,313 | 12,802,509 | — | ↓ −5,284,196 |
| Jean Niehaus | 1,517,976 | 1,496,276 | 1,168,540 | ↑ +21,700 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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Each company listed discloses SHOP 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 SHOP in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
No insider equity transactions reported since the proxy statement.
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-16 | 1,377,881,961 | 318,194,521 | — | 81.24% | Passed |
| 2025 | 2025-06-17 | 1,064,652,087 | 643,461,082 | — | 62.33% | 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 | 2026-06-16 | 81.24%a |
| 2025 | 2025-06-17 | 62.33%b |
a. Voting standard not stated in the filing.
b. 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) | — |
|---|---|
| CEO total compensation | — |
| Median employee compensation | — |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Gail GoodmanIndependent · Audit · Compensation and Talent Management (Chair) | $87,500 | $300,126 | $0 | $0 | $0 | $387,626 |
| Fidji SimoIndependent · Compensation and Talent Management | 65,500 | 300,126 | 0 | 0 | 0 | 365,626 |
| Tobias LütkeEmployee director · Board Chair | — | — | — | — | — | 0 |
| Jeremy LevineIndependent · Nominating and Corporate Governance | 0 | 0 | 0 | 0 | 0 | 0 |
| Annual cash retainer | $50,000 |
|---|---|
| Annual equity retainer | $300,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 30,000 / 22,500 / 15,000 |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $153,000 |
| Equity awards (grant-date value) | $600,252 |
| All other compensation | $0 |
| Total cost of the board | $753,252 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Of the companies Shopify 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 Shopify.
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 | CrowdStrike Holdings Inc. | 2026 | George Kurtz | $1,100,000 | $242,124,351 | $0 | $1,614,938 | $247,579,143 |
| 2 | Palo Alto Networks Inc. | 2025 | Nikesh Arora | 1,000,000 | 94,857,838 | 0 | 1,200,000 | 99,736,336 |
| 3 | ServiceNow Inc. | 2025 | William McDermott | 1,516,667 | 43,481,651 | 0 | 3,522,375 | 51,550,957 |
| 4 | Adobe Inc. | 2025 | Shantanu Narayen | 1,500,000 | 45,376,110 | 0 | 3,120,000 | 51,173,935 |
| 5 | Pinterest Inc. | 2025 | Bill Ready | 620,833 | 37,928,927 | 0 | 756,250 | 39,312,010 |
| 6 | Intuit Inc. | 2025 | Sasan Goodarzi | 1,300,000 | 24,285,384 | 8,650,168 | 2,600,000 | 36,845,552 |
| 7 | Uber Technologies Inc. | 2025 | Dara Khosrowshahi | 1,083,333 | 23,746,098 | 7,373,189 | 2,838,660 | 35,595,826 |
| 8 | Shopify | 2025 | Tobias Lütke | 1 | 0 | 35,000,026 | 0 | 35,000,027 |
| 9 | Autodesk Inc. | 2026 | Andrew Anagnost | 1,040,000 | 27,242,330 | 0 | 1,717,560 | 30,091,165 |
| 10 | Snowflake Inc. | 2026 | Sridhar Ramaswamy | 750,000 | 20,787,461 | 0 | 772,407 | 22,310,492 |
| 11 | Workday Inc. | 2026 | Aneel Bhusri | 65,000 | 15,322,067 | 0 | 0 | 19,231,325 |
| 12 | Fortinet Inc. | 2025 | Ken Xie | 597,000 | 10,155,102 | 0 | 705,937 | 11,458,039 |
| 13 | Snap Inc. | 2025 | Evan Spiegel | 1 | 0 | 0 | 0 | 4,250,450 |
| 14 | Veeva Systems Inc. | 2026 | Peter Gassner | 470,833 | 0 | 0 | 0 | 470,833 |
| 15 | Doordash Inc. | 2025 | Tony Xu | 300,000 | 0 | 0 | 0 | 431,864 |
| 16 | Airbnb Inc. | 2025 | Brian Chesky | 1 | 0 | 0 | 0 | 242,122 |
| 17 | Atlassian Corporation PLC | 2026 | Michael Cannon-Brookes | 50,786 | 0 | 0 | 0 | 57,337 |
| 18 | Block Inc. | 2025 | Jack Dorsey | 3 | 0 | 0 | 0 | 3 |
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.
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Shopify | not disclosed | not disclosed | not disclosed | not disclosed |
| Adobe Inc. | 104% | PSU 70 · RSU 30 | Yes | Compensia, Inc. |
| Airbnb Inc. | 100% | RSU 70 · Options 30 | not disclosed | Deloitte & Touche Toomey LLP |
| Atlassian Corporation PLC | 100% | RSU 100 | not disclosed | Compensia |
| Autodesk Inc. | 110.1% | PSU 60 · RSU 40 | Yes — Relative TSR (rTSR) over three-year performance period | Exequity LLP |
| Block Inc. | not disclosed | Option 50 · RSU 50 | not disclosed | Pay Governance |
| CrowdStrike Holdings Inc. | 108.8% | not disclosed | No | Compensia Inc. |
| Doordash Inc. | not disclosed | RSU 100 | not disclosed | Semler Brossy Consulting Group LLC |
| Fortinet Inc. | 103% | RSU 50 · PSU 50 | Yes — Relative Total Stockholder Return (TSR) vs. S&P 500 | Compensia |
| Intuit Inc. | not disclosed | PSU 50 · RSU 25 · Options 25 | Yes — Relative TSR (60th percentile target) | Frederic W. Cook & Co. (FW Cook) |
| Palo Alto Networks Inc. | 120% | PSU 100 | No | Meridian Compensation Partners |
| Pinterest Inc. | 121% | PSU 60 · RSU 40 | Yes — relative total shareholder return (rTSR) | Compensia, Inc. |
| ServiceNow Inc. | not disclosed | PSU 60 · RSU 40 | Yes — rTSR vs. S&P 500 | Pay Governance, LLC |
| Snap Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Snowflake Inc. | 103.0% | PSU 70 · RSU 30 | No | Compensia |
| Uber Technologies Inc. | 129.03% | not disclosed | Yes — Relative TSR | Semler Brossy Consulting Group |
| Veeva Systems Inc. | not disclosed | Options 100 | not disclosed | Compensia |
| Workday Inc. | 101.8% | RSU 75 · PSU 25 | No | Semler Brossy |
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.
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, Tobias Lütke | 10-K | 2026-04-29 | 0001594805-26-000011 | Section “Executive Compensation”. As printed: 35,000,027. Filing ↗ |
| 2 | Section 01, Kasra Nejatian | 10-K | 2026-04-29 | 0001594805-26-000011 | Section “Executive Compensation”. As printed: 15,750,222. Filing ↗ |
| 3 | Section 01, Jessica Hertz | 10-K | 2026-04-29 | 0001594805-26-000011 | Section “Executive Compensation”. As printed: 12,000,170. Filing ↗ |
| 4 | Section 01, Jeff Hoffmeister | 10-K | 2026-04-29 | 0001594805-26-000011 | Section “Executive Compensation”. As printed: 10,500,081. Filing ↗ |
| 5 | Section 01, Harley Finkelstein | 10-K | 2026-04-29 | 0001594805-26-000011 | Section “Executive Compensation”. As printed: 7,518,313. Filing ↗ |
| 6 | Section 01, Jean Niehaus | 10-K | 2026-04-29 | 0001594805-26-000011 | Section “Executive Compensation”. As printed: 1,517,976. Filing ↗ |
| 7 | Section 07, pay ratio | 10-K/A | 2026-04-29 | 0001594805-26-000011 | Section “CEO Pay Ratio”. As printed: —. Filing ↗ |
| 8 | Section 08, Gail Goodman | 10-K | 2026-04-29 | 0001594805-26-000011 | Section “Director Compensation”. As printed: 387,626. Filing ↗machine: span 497714–497846 |
| 9 | Section 08, Fidji Simo | 10-K | 2026-04-29 | 0001594805-26-000011 | Section “Director Compensation”. As printed: 365,626. Filing ↗machine: span 505143–505275 |
| 10 | Section 08, Tobias Lütke | 10-K | 2026-04-29 | 0001594805-26-000011 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 11 | Section 08, Jeremy Levine | 10-K | 2026-04-29 | 0001594805-26-000011 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 12 | Section 06, 2026 vote | Form 8-K | 2026-06-16 | 0001594805-26-000030 | Item 5.07 · say-on-pay result. As reported: 81.24% (votes for as printed: 1,377,881,961). Filing ↗ |
| 13 | Section 06, 2025 vote | Form 8-K | 2025-06-18 | 0001594805-25-000054 | Item 5.07 · say-on-pay result. As reported: 62.33% (votes for as printed: 1,064,652,087). Filing ↗ |
| 14 | 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) |
| 15 | Section 09b board cost (computed) | Computed | — | — | Cash 153,000 + equity 600,252 + all other 0 = 753,252, summed across the director compensation table rows.machine: formula: Σ = 753,252 |
| 16 | CrowdStrike Holdings Inc., Section 10b CEO total | DEF 14A | 2026-05-05 | 0001104659-26-055599 | CEO total compensation as printed in CrowdStrike Holdings Inc.'s own proxy. As printed: 247,579,143. Filing ↗machine: r1 · c35 · span 883743–883754 |
| 17 | Palo Alto Networks Inc., Section 10b CEO total | DEF 14A | 2025-11-07 | 0001308179-25-000624 | CEO total compensation as printed in Palo Alto Networks Inc.'s own proxy. As printed: 99,736,336. Filing ↗machine: span 1766123–1766133 |
| 18 | ServiceNow Inc., Section 10b CEO total | DEF 14A | 2026-04-06 | 0001373715-26-000039 | CEO total compensation as printed in ServiceNow Inc.'s own proxy. As printed: 51,550,957. Filing ↗machine: r2 · c8 · span 2636904–2636914 |
| 19 | Adobe Inc., Section 10b CEO total | DEF 14A | 2026-02-27 | 0000796343-26-000043 | CEO total compensation as printed in Adobe Inc.'s own proxy. As printed: 51,173,935. Filing ↗machine: r3 · c51 · span 923759–923769 |
| 20 | Pinterest Inc., Section 10b CEO total | DEF 14A | 2026-04-08 | 0001506293-26-000058 | CEO total compensation as printed in Pinterest Inc.'s own proxy. As printed: 39,312,010. Filing ↗machine: t133 · r2 · c17 · span 781657–781667 |
| 21 | Intuit Inc., Section 10b CEO total | DEF 14A | 2025-11-26 | 0000896878-25-000057 | CEO total compensation as printed in Intuit Inc.'s own proxy. As printed: 36,845,552. Filing ↗machine: span 1544523–1544533 |
| 22 | Uber Technologies Inc., Section 10b CEO total | DEF 14A | 2026-04-20 | 0001308179-26-000303 | CEO total compensation as printed in Uber Technologies Inc.'s own proxy. As printed: 35,595,826. Filing ↗machine: r2 · c28 · span 883016–883026 |
| 23 | Shopify (subject), Section 10b CEO total | 10-K | 2026-04-29 | 0001594805-26-000011 | CEO total compensation as printed in Shopify's own proxy. As printed: 35,000,027. Filing ↗ |
| 24 | Autodesk Inc., Section 10b CEO total | DEF 14A | 2026-05-06 | 0000769397-26-000030 | CEO total compensation as printed in Autodesk Inc.'s own proxy. As printed: 30,091,165. Filing ↗machine: r2 · c42 · span 707592–707602 |
| 25 | Snowflake Inc., Section 10b CEO total | DEF 14A | 2026-05-18 | 0001640147-26-000019 | CEO total compensation as printed in Snowflake Inc.'s own proxy. As printed: 22,310,492. Filing ↗machine: r4 · c24 · span 835052–835062 |
| 26 | Workday Inc., Section 10b CEO total | DEF 14A | 2026-05-05 | 0001104659-26-055687 | CEO total compensation as printed in Workday Inc.'s own proxy. As printed: 19,231,325. Filing ↗ |
| 27 | Fortinet Inc., Section 10b CEO total | DEF 14A | 2026-04-29 | 0002077096-26-000106 | CEO total compensation as printed in Fortinet Inc.'s own proxy. As printed: 11,458,039. Filing ↗machine: r1 · c14 · span 1588404–1588414 |
| 28 | Snap Inc., Section 10b CEO total | 10-K | 2026-02-05 | 0001564408-26-000013 | CEO total compensation as printed in Snap Inc.'s own proxy. As printed: 4,250,450. Filing ↗machine: span 2500289–2500298 |
| 29 | Veeva Systems Inc., Section 10b CEO total | DEF 14A | 2026-05-04 | 0001140361-26-018796 | CEO total compensation as printed in Veeva Systems Inc.'s own proxy. As printed: 470,833. Filing ↗machine: t223 · r2 · c7 · span 807038–807045 |
| 30 | Doordash Inc., Section 10b CEO total | DEF 14A | 2026-04-20 | 0001792789-26-000018 | CEO total compensation as printed in Doordash Inc.'s own proxy. As printed: 431,864. Filing ↗machine: r3 · c21 · span 677820–677827 |
| 31 | Airbnb Inc., Section 10b CEO total | DEF 14A | 2026-04-24 | 0001193125-26-175062 | CEO total compensation as printed in Airbnb Inc.'s own proxy. As printed: 242,122. Filing ↗machine: r2 · c31 · span 402084–402091 |
| 32 | Atlassian Corporation PLC, Section 10b CEO total | DEF 14A | 2026-10-14 | 0001650372-26-000044 | CEO total compensation as printed in Atlassian Corporation PLC's own proxy. As printed: 57,337. Filing ↗machine: r2 · c18 · span 750885–750891 |
| 33 | Block Inc., Section 10b CEO total | DEF 14A | 2026-04-24 | 0001628280-26-027203 | CEO total compensation as printed in Block Inc.'s own proxy. As printed: 3. Filing ↗machine: r2 · c36 · span 720350–720354 |
| 34 | Section 10a, Airbnb Inc. reciprocity | DEF 14A | — | 0001193125-26-175062 | Airbnb Inc. names Shopify in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 35 | Section 10a, Workday Inc. reciprocity | DEF 14A | — | 0001104659-26-055687 | Workday Inc. names Shopify in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 36 | Section 10a, Doordash Inc. reciprocity | DEF 14A | — | 0001792789-26-000018 | Doordash Inc. names Shopify in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 37 | Section 10a, Block Inc. reciprocity | DEF 14A | — | 0001628280-26-027203 | Block Inc. names Shopify in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 38 | Section 10a, CrowdStrike Holdings Inc. reciprocity | DEF 14A | — | 0001104659-26-055599 | CrowdStrike Holdings Inc. names Shopify in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 39 | Section 10a, Intuit Inc. reciprocity | DEF 14A | — | 0000896878-25-000057 | Intuit Inc.'s most recent proxy was read; its disclosed peer group does not include Shopify. Filing ↗ |
| 40 | Section 10a, Snowflake Inc. reciprocity | DEF 14A | — | 0001640147-26-000019 | Snowflake Inc.'s most recent proxy was read; its disclosed peer group does not include Shopify. Filing ↗ |
| 41 | Section 10a, Autodesk Inc. reciprocity | DEF 14A | — | 0000769397-26-000030 | Autodesk Inc.'s most recent proxy was read; its disclosed peer group does not include Shopify. Filing ↗ |
| 42 | Section 10a, Fortinet Inc. reciprocity | DEF 14A | — | 0002077096-26-000106 | Fortinet Inc.'s most recent proxy was read; its disclosed peer group does not include Shopify. Filing ↗ |
| 43 | Section 10a, Uber Technologies Inc. reciprocity | DEF 14A | — | 0001308179-26-000303 | Uber Technologies Inc.'s most recent proxy was read; its disclosed peer group does not include Shopify. Filing ↗ |
| 44 | Section 10a, Pinterest Inc. reciprocity | DEF 14A | — | 0001506293-26-000058 | Pinterest Inc. names Shopify in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 45 | Section 10a, Veeva Systems Inc. reciprocity | DEF 14A | — | 0001140361-26-018796 | Veeva Systems Inc.'s most recent proxy was read; its disclosed peer group does not include Shopify. Filing ↗ |
| 46 | Section 10a, Atlassian Corporation PLC reciprocity | DEF 14A | — | 0001650372-26-000044 | Atlassian Corporation PLC names Shopify in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
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