Companies Shopify Inc
Shopify (SHOP): executive pay, fiscal 2025
Free brief. Every figure links to the company’s own filing.
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CEO pay, last three years
- $35,000,027FY2025
CEO total pay was $35,000,027 in fiscal 2025; the brief holds no earlier figure for this CEO.
FY2025: salary $1 · bonus $0 · stock awards $0 · option awards $35,000,026
Executives and directors
Frequently asked questions
Who was the highest-paid executive at Shopify Inc in fiscal 2025?
As disclosed, Tobias Lütke (CEO & Head of R&D) was the highest-paid executive at Shopify Inc in fiscal 2025, with total compensation of $35,000,027.
How did shareholders vote on Shopify Inc's executive compensation?
As disclosed, 81.24% of shareholders supported Shopify Inc's executive compensation in the latest say-on-pay vote.
How much does Shopify Inc spend in total on board compensation for fiscal 2025?
As disclosed, Shopify Inc reported total board compensation of $3,013,907 for fiscal 2025.
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.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| 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.
Three-year trend — total compensation per named executive
| 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.
Equity grants and outstanding awards
No plan-based awards are on file for this fiscal year.
No outstanding equity awards are on file for this fiscal year.
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Joe NataleIndependent · Audit · Compensation and Talent Management · Nominating and Corporate Governance (Chair) · Newly elected | $0 | $740,204 | $0 | $0 | — | $767,100 |
| Gail GoodmanIndependent · Audit · Compensation and Talent Management (Chair) | 87,500 | 300,126 | 0 | 0 | 0 | 387,626 |
| Prashanth Mahendra-RajahIndependent · Audit (Chair) | 0 | 300,126 | 0 | 0 | — | 378,369 |
| Fidji SimoIndependent · Compensation and Talent Management | 65,500 | 300,126 | 0 | 0 | 0 | 365,626 |
| Kevin ScottIndependent | 0 | 300,126 | 0 | 0 | — | 350,395 |
| Toby ShannanIndependent | 0 | 300,126 | 0 | 0 | — | 350,395 |
| Lulu Cheng MeserveyIndependent | 0 | 300,126 | 0 | 0 | — | 350,395 |
| David Heinemeier HanssonIndependent | 0 | 300,126 | 0 | 0 | — | 343,778 |
| Robert AsheIndependent · Not standing for re-election · Departed during FY | 19,821 | 0 | 0 | 0 | — | 66,187 |
| Tobias LütkeEmployee director · Board Chair | — | — | — | — | — | 0 |
| Jeremy LevineIndependent · Nominating and Corporate Governance | 0 | 0 | 0 | 0 | 0 | 0 |
Board fee structure and ownership guideline
| 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 | — |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $172,821 |
| Equity awards (grant-date value) | $2,841,086 |
| All other compensation | $0 |
| Total cost of the board | $3,013,907 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Shopify as a peer
Companies that benchmark against SHOP
19 companies name SHOP as a compensation peer
The list of companies that name SHOP as a peer is temporarily unavailable — recheck shortly.
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.
ABNB Airbnb Inc.WDAY Workday Inc.DASH Doordash Inc.SNAP Snap Inc.XYZ Block Inc.CRWD CrowdStrike Holdings Inc.INTU Intuit Inc.PANW Palo Alto Networks Inc.ADBE Adobe Inc.SNOW Snowflake Inc.ADSK Autodesk Inc.FTNT Fortinet Inc.UBER Uber Technologies Inc.PINS Pinterest Inc.VEEV Veeva Systems Inc.TEAM Atlassian Corporation PLCNOW ServiceNow Inc.
Peer reciprocity
Of the companies Shopify 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.
✓ Airbnb Inc. (ABNB)41✓ Workday Inc. (WDAY)42✓ Doordash Inc. (DASH)43✓ Snap Inc. (SNAP)44✓ Block Inc. (XYZ)45✓ CrowdStrike Holdings Inc. (CRWD)46— Intuit Inc. (INTU)47— Palo Alto Networks Inc. (PANW)48 Adobe Inc. (ADBE)— Snowflake Inc. (SNOW)49— Autodesk Inc. (ADSK)50— Fortinet Inc. (FTNT)51— Uber Technologies Inc. (UBER)52✓ Pinterest Inc. (PINS)53— Veeva Systems Inc. (VEEV)54✓ Atlassian Corporation PLC (TEAM)55 ServiceNow Inc. (NOW)
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 Inc.
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.
| 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. | 2026 | Nikesh Arora | 1,000,000 | 75,937,806 | 0 | 1,000,000 | 80,270,519 |
| 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 Inc | 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.
Incentive design against the same peers
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Shopify Inc | 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. | 100% | PSU 100 | Yes — Relative TSR | 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.
Say-on-pay history and pay ratio
| 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.
Say-on-pay — history, company’s computation
| 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.
CEO pay ratio
| Ratio (CEO : median employee) | — |
|---|---|
| CEO total compensation | — |
| Median employee compensation | — |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (55 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Tobias Lütke. 10-K, filed 2026-04-29. Section “Executive Compensation”. As printed: 35,000,027. View filing ↗
- Section 01, Kasra Nejatian. 10-K, filed 2026-04-29. Section “Executive Compensation”. As printed: 15,750,222. View filing ↗
- Section 01, Jessica Hertz. 10-K, filed 2026-04-29. Section “Executive Compensation”. As printed: 12,000,170. View filing ↗
- Section 01, Jeff Hoffmeister. 10-K, filed 2026-04-29. Section “Executive Compensation”. As printed: 10,500,081. View filing ↗
- Section 01, Harley Finkelstein. 10-K, filed 2026-04-29. Section “Executive Compensation”. As printed: 7,518,313. View filing ↗
- Section 01, Jean Niehaus. 10-K, filed 2026-04-29. Section “Executive Compensation”. As printed: 1,517,976. View filing ↗
- Section 07, pay ratio. 10-K/A, filed 2026-04-29. Section “CEO Pay Ratio”. As printed: —. View filing ↗
- Section 08, Joe Natale. 10-K, filed 2026-04-29. Section “Director Compensation”. As printed: 767,100. View filing ↗
- Section 08, Gail Goodman. 10-K, filed 2026-04-29. Section “Director Compensation”. As printed: 387,626. View filing ↗
- Section 08, Prashanth Mahendra-Rajah. 10-K, filed 2026-04-29. Section “Director Compensation”. As printed: 378,369. View filing ↗
- Section 08, Fidji Simo. 10-K, filed 2026-04-29. Section “Director Compensation”. As printed: 365,626. View filing ↗
- Section 08, Kevin Scott. 10-K, filed 2026-04-29. Section “Director Compensation”. As printed: 350,395. View filing ↗
- Section 08, Toby Shannan. 10-K, filed 2026-04-29. Section “Director Compensation”. As printed: 350,395. View filing ↗
- Section 08, Lulu Cheng Meservey. 10-K, filed 2026-04-29. Section “Director Compensation”. As printed: 350,395. View filing ↗
- Section 08, David Heinemeier Hansson. 10-K, filed 2026-04-29. Section “Director Compensation”. As printed: 343,778. View filing ↗
- Section 08, Robert Ashe. 10-K, filed 2026-04-29. Section “Director Compensation”. As printed: 66,187. View filing ↗
- Section 08, Tobias Lütke. 10-K, filed 2026-04-29. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, Jeremy Levine. 10-K, filed 2026-04-29. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-06-16. Item 5.07 · say-on-pay result. As reported: 81.24% (votes for as printed: 1,377,881,961). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-06-18. Item 5.07 · say-on-pay result. As reported: 62.33% (votes for as printed: 1,064,652,087). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 09b board cost (computed). Computed. Cash 172,821 + equity 2,841,086 + all other 0 = 3,013,907, summed across the director compensation table rows.
- CrowdStrike Holdings Inc., Section 10b CEO total. DEF 14A, filed 2026-05-05. CEO total compensation as printed in CrowdStrike Holdings Inc.'s own proxy. As printed: 247,579,143. View filing ↗
- Palo Alto Networks Inc., Section 10b CEO total. DEF 14A, filed 2026-10-27. CEO total compensation as printed in Palo Alto Networks Inc.'s own proxy. As printed: 80,270,519. View filing ↗
- ServiceNow Inc., Section 10b CEO total. DEF 14A, filed 2026-04-06. CEO total compensation as printed in ServiceNow Inc.'s own proxy. As printed: 51,550,957. View filing ↗
- Adobe Inc., Section 10b CEO total. DEF 14A, filed 2026-02-27. CEO total compensation as printed in Adobe Inc.'s own proxy. As printed: 51,173,935. View filing ↗
- Pinterest Inc., Section 10b CEO total. DEF 14A, filed 2026-04-08. CEO total compensation as printed in Pinterest Inc.'s own proxy. As printed: 39,312,010. View filing ↗
- Intuit Inc., Section 10b CEO total. DEF 14A, filed 2025-11-26. CEO total compensation as printed in Intuit Inc.'s own proxy. As printed: 36,845,552. View filing ↗
- Uber Technologies Inc., Section 10b CEO total. DEFR 14A, filed 2026-04-20. CEO total compensation as printed in Uber Technologies Inc.'s own proxy. As printed: 35,595,826. View filing ↗
- Shopify Inc (subject), Section 10b CEO total. 10-K, filed 2026-04-29. CEO total compensation as printed in Shopify Inc's own proxy. As printed: 35,000,027. View filing ↗
- Autodesk Inc., Section 10b CEO total. DEF 14A, filed 2026-05-06. CEO total compensation as printed in Autodesk Inc.'s own proxy. As printed: 30,091,165. View filing ↗
- Snowflake Inc., Section 10b CEO total. DEF 14A, filed 2026-05-18. CEO total compensation as printed in Snowflake Inc.'s own proxy. As printed: 22,310,492. View filing ↗
- Workday Inc., Section 10b CEO total. DEF 14A, filed 2026-05-05. CEO total compensation as printed in Workday Inc.'s own proxy. As printed: 19,231,325. View filing ↗
- Fortinet Inc., Section 10b CEO total. DEF 14A, filed 2026-04-29. CEO total compensation as printed in Fortinet Inc.'s own proxy. As printed: 11,458,039. View filing ↗
- Snap Inc., Section 10b CEO total. 10-K, filed 2026-02-05. CEO total compensation as printed in Snap Inc.'s own proxy. As printed: 4,250,450. View filing ↗
- Veeva Systems Inc., Section 10b CEO total. DEF 14A, filed 2026-05-04. CEO total compensation as printed in Veeva Systems Inc.'s own proxy. As printed: 470,833. View filing ↗
- Doordash Inc., Section 10b CEO total. DEF 14A, filed 2026-04-20. CEO total compensation as printed in Doordash Inc.'s own proxy. As printed: 431,864. View filing ↗
- Airbnb Inc., Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in Airbnb Inc.'s own proxy. As printed: 242,122. View filing ↗
- Atlassian Corporation PLC, Section 10b CEO total. DEF 14A, filed 2026-10-14. CEO total compensation as printed in Atlassian Corporation PLC's own proxy. As printed: 57,337. View filing ↗
- Block Inc., Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in Block Inc.'s own proxy. As printed: 3. View filing ↗
- Section 10a, Airbnb Inc. reciprocity. DEF 14A. Airbnb Inc. names Shopify Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Workday Inc. reciprocity. DEF 14A. Workday Inc. names Shopify Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Doordash Inc. reciprocity. DEF 14A. Doordash Inc. names Shopify Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Snap Inc. reciprocity. DEF 14A. Snap Inc. names Shopify Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Block Inc. reciprocity. DEF 14A. Block Inc. names Shopify Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, CrowdStrike Holdings Inc. reciprocity. DEF 14A. CrowdStrike Holdings Inc. names Shopify Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Intuit Inc. reciprocity. DEF 14A. Intuit Inc.'s most recent proxy was read; its disclosed peer group does not include Shopify Inc. View filing ↗
- Section 10a, Palo Alto Networks Inc. reciprocity. DEF 14A. Palo Alto Networks Inc.'s most recent proxy was read; its disclosed peer group does not include Shopify Inc. View filing ↗
- Section 10a, Snowflake Inc. reciprocity. DEF 14A. Snowflake Inc.'s most recent proxy was read; its disclosed peer group does not include Shopify Inc. View filing ↗
- Section 10a, Autodesk Inc. reciprocity. DEF 14A. Autodesk Inc.'s most recent proxy was read; its disclosed peer group does not include Shopify Inc. View filing ↗
- Section 10a, Fortinet Inc. reciprocity. DEF 14A. Fortinet Inc.'s most recent proxy was read; its disclosed peer group does not include Shopify Inc. View filing ↗
- Section 10a, Uber Technologies Inc. reciprocity. DEF 14A. Uber Technologies Inc.'s most recent proxy was read; its disclosed peer group does not include Shopify Inc. View filing ↗
- Section 10a, Pinterest Inc. reciprocity. DEF 14A. Pinterest Inc. names Shopify Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Veeva Systems Inc. reciprocity. DEF 14A. Veeva Systems Inc.'s most recent proxy was read; its disclosed peer group does not include Shopify Inc. View filing ↗
- Section 10a, Atlassian Corporation PLC reciprocity. DEF 14A. Atlassian Corporation PLC names Shopify Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗