Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-05-26

Smith Micro Software (SMSI)

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.

$984,096
William Smith, Jr. total, FY2025
CEO pay percentile vs peers
1:1
CEO-to-median pay ratio
95.12%
Say-on-pay support, latest vote
Companies that benchmark against SMSI
1 company names SMSI as a compensation peer

Each company listed discloses SMSI 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 SMSI 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
William Smith, Jr.$450,000$0$516,675$0$0$0$17,421$984,096
Chairman, President and Chief Executive Officer
Timothy Huffmyer196,3850216,4410002,160414,985
Vice President, Chief Financial Officer, Chief Operating Officer and Treasurer
James Kempton130,1700194,15700059,980384,307
Vice President, Chief Financial Officer and Treasurer

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
William Smith, Jr.$984,096
Timothy Huffmyer414,985
James Kempton384,307473,007531,834−88,700

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

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
William W. Smith JrDirector2026-04-27D1,618$1$1,133CommonForm 4 ↗
Bethany M. BraundVP, CFO and Treasurer2026-04-27D6,76114,868CommonForm 4 ↗
Timothy C. HuffmyerPresident and CEO2026-04-27D5881412CommonForm 4 ↗
William W. Smith JrDirector2026-05-14D1,61811,405CommonForm 4 ↗
Timothy C. HuffmyerPresident and CEO2026-05-14D5881511CommonForm 4 ↗
Bethany M. BraundVP, CFO and Treasurer2026-05-14D1,85011,607CommonForm 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 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
William Smith, Jr.PSU$516,675
James KemptonPSU194,157
Timothy HuffmyerPSU216,441
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
William Smith, Jr.$0$516,675$0100.0%
James Kempton0194,1570100.0%
Timothy Huffmyer0216,4410100.0%

% 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
William Smith, Jr.RSU119,049$64,310
William Smith, Jr.RSU158,59385,672
Timothy HuffmyerRSU68,35936,928
William Smith, Jr.RSU11,8796,417
William Smith, Jr.RSU6,5553,541
William Smith, Jr.RSU1,284694
Timothy HuffmyerRSU75,39840,730
05

Incentive-plan design — the Compensation Discussion & Analysis

We seek to establish the overall compensation of our named executive officers at levels that we believe are roughly comparable with the average levels of compensation of executives at other growth technology companies of similar size.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultant
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-2610,943,336560,907470,08095.12%Passed
20232023-06-0618,289,45011,391,0471,695,45661.62%Passed
20222022-06-0718,584,5542,088,7271,794,55082.72%Passed
20212021-06-0822,378,7061,157,7811,850,02188.15%Passed
20202020-06-0917,591,2391,212,074162,04592.75%Passed
20192019-06-0413,184,274147,83591,55998.22%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
20262026-05-2695.12%a
20232023-06-0661.62%b
20222022-06-0782.72%c

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

b. Approved under the standard stated in the filing — “Abstentions and broker non-votes count as present for establishing a quorum but will not be counted as votes cast.”.

c. Approved under the standard stated in the filing — “Abstentions will have the same effect as negative votes.”.

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)1 : 1
CEO total compensation$984,096
Median employee compensation
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Steven L. ElfmanIndependent · Compensation · Governance and Nominating · Mergers and Acquisitions$20,250$38,214$0$0$0$58,464
Thomas G. CampbellIndependent · Audit · Compensation · Governance and Nominating20,25038,21400058,464
Andrew ArnoIndependent · Governance and Nominating · Mergers and Acquisitions20,25038,21400058,464
Asha KeddyIndependent · Audit20,25038,21400058,464
Samuel GulkoIndependent · Audit (Chair) · Compensation20,25038,21400058,464
Gregory J. SzaboIndependent · Audit · Mergers and Acquisitions20,25038,21400058,464
Chetan SharmaIndependent · Mergers and Acquisitions20,25016,92500037,175
Timothy C. HuffmyerEmployee director · Partial-year service · Newly elected00000
William W. Smith, JrEmployee director · Board Chair00000
09

Board fee structure and ownership guideline

Annual cash retainer$40,000
Annual equity retainer
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$141,750
Equity awards (grant-date value)$246,209
All other compensation$0
Total cost of the board$387,959

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
1Smith Micro Software2025William Smith, Jr.$450,000$516,675$0$0$984,096

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, William Smith, Jr.DEF 14A2026-04-160001437749-26-012555Section “Summary Compensation Table”. As printed: 984,096. Filing ↗machine: t70 · r1 · c26 · span 570934–570941
2Section 01, Timothy HuffmyerDEF 14A2026-04-160001437749-26-012555Section “Summary Compensation Table”. As printed: 414,985. Filing ↗machine: t70 · r3 · c26 · span 583142–583149
3Section 01, James KemptonDEF 14A2026-04-160001437749-26-012555Section “Summary Compensation Table”. As printed: 384,307. Filing ↗machine: t70 · r5 · c26 · span 595319–595326
4Section 03, William Smith, Jr. PSUDEF 14A2026-04-160001437749-26-012555Section “EXECUTIVE COMPENSATION &” · grants of plan-based awards table. Filing ↗machine: t70 · r1 · c14 · span 568472–568479
5Section 03, James Kempton PSUDEF 14A2026-04-160001437749-26-012555Section “EXECUTIVE COMPENSATION &” · grants of plan-based awards table. Filing ↗machine: t70 · r5 · c14 · span 592856–592863
6Section 03, Timothy Huffmyer PSUDEF 14A2026-04-160001437749-26-012555Section “EXECUTIVE COMPENSATION &” · grants of plan-based awards table. Filing ↗machine: t70 · r3 · c14 · span 580681–580688
7Section 07, pay ratioDEF 14A2026-04-160001437749-26-012555Section “CEO Pay Ratio”. As printed: 1 : 1. Filing ↗
8Section 08, Steven L. ElfmanDEF 14A2026-04-160001437749-26-012555Section “Director Compensation”. As printed: 58,464. Filing ↗machine: t93 · r3 · c15 · span 854148–854154
9Section 08, Thomas G. CampbellDEF 14A2026-04-160001437749-26-012555Section “Director Compensation”. As printed: 58,464. Filing ↗machine: t93 · r2 · c15 · span 850512–850518
10Section 08, Andrew ArnoDEF 14A2026-04-160001437749-26-012555Section “Director Compensation”. As printed: 58,464. Filing ↗machine: t93 · r1 · c15 · span 846874–846880
11Section 08, Asha KeddyDEF 14A2026-04-160001437749-26-012555Section “Director Compensation”. As printed: 58,464. Filing ↗machine: t93 · r5 · c15 · span 861465–861471
12Section 08, Samuel GulkoDEF 14A2026-04-160001437749-26-012555Section “Director Compensation”. As printed: 58,464. Filing ↗machine: t93 · r4 · c15 · span 857780–857786
13Section 08, Gregory J. SzaboDEF 14A2026-04-160001437749-26-012555Section “Director Compensation”. As printed: 58,464. Filing ↗machine: t93 · r7 · c15 · span 868734–868740
14Section 08, Chetan SharmaDEF 14A2026-04-160001437749-26-012555Section “Director Compensation”. As printed: 37,175. Filing ↗machine: t93 · r6 · c15 · span 865098–865104
15Section 08, Timothy C. HuffmyerDEF 14A2026-04-160001437749-26-012555Section “Director Compensation”. As printed: 0. Filing ↗
16Section 08, William W. Smith, JrDEF 14A2026-04-160001437749-26-012555Section “Director Compensation”. As printed: 0. Filing ↗
17Section 02, William W. Smith Jr 2026-04-27Form 42026-04-280001437749-26-013703Insider equity transaction reported since the proxy statement. Filing ↗
18Section 02, Bethany M. Braund 2026-04-27Form 42026-04-280001437749-26-013701Insider equity transaction reported since the proxy statement. Filing ↗
19Section 02, Timothy C. Huffmyer 2026-04-27Form 42026-04-280001437749-26-013698Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, William W. Smith Jr 2026-05-14Form 42026-05-180001437749-26-017648Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, Timothy C. Huffmyer 2026-05-14Form 42026-05-180001437749-26-017646Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Bethany M. Braund 2026-05-14Form 42026-05-180001437749-26-017644Insider equity transaction reported since the proxy statement. Filing ↗
23Section 06, 2026 voteForm 8-K2026-05-260001437749-26-018372Item 5.07 · say-on-pay result. As reported: 95.12% (votes for as printed: 10,943,336). Filing ↗
24Section 06, 2023 voteForm 8-K2023-06-080000948708-23-000027Item 5.07 · say-on-pay result. As reported: 61.62% (votes for as printed: 18,289,450). Filing ↗
25Section 06, 2022 voteForm 8-K2022-06-100001564590-22-022922Item 5.07 · say-on-pay result. As reported: 82.72%. Filing ↗
26Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
27Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
28Section 09b board cost (computed)ComputedcomputedCash 141,750 + equity 246,209 + all other 0 = 387,959, summed across the director compensation table rows.machine: formula: Σ = 387,959
29Smith Micro Software (subject), Section 10b CEO totalDEF 14A2026-04-160001437749-26-012555CEO total compensation as printed in Smith Micro Software's own proxy. As printed: 984,096. Filing ↗machine: t70 · r1 · c26 · span 570934–570941