Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-17

System1 (SST)

CEO Michael Blend was paid $636,333 in fiscal year 2025, ↓ down 73.4% from fiscal year 2024 (SEC filing 0001805833-26-000040 ↗): 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.

$9,549,054
Marc Mezzacca total, FY2025
President, CouponFollow — highest-paid officer; CEO Michael Blend: $636,333
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CEO (Michael Blend) pay percentile vs peers
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CEO-to-median pay ratio
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Say-on-pay support, latest vote

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SST's next annual pay disclosure, estimated June 22, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Marc Mezzacca$300,000$0$90,050$0$9,123,003$0$36,001$9,549,054
President, CouponFollow
Charles Ursini450,00002,994,36500029,9743,474,339
Chief Operating Officer
Tridivesh Kidambi450,000142,135612,9670211,800034,0571,450,959
Chief Financial Officer
Michael Blend00601,49000034,843636,333
Chief Executive 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 FY2024→2025
Marc Mezzacca$9,549,054$2,559,808$2,427,554↑ +6,989,246
Charles Ursini3,474,3392,377,219—↑ +1,097,120
Tridivesh Kidambi1,450,9591,735,853993,583↓ −284,894
Michael Blend636,3332,388,35336,507↓ −1,752,020

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 SST
1 company names SST as a compensation peer

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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.

ExecutiveRoleFY2025 total
Charles UrsiniCOO$3,474,339
Marc MezzaccaPresident$9,549,054
Michael BlendCEO$636,333
Tridivesh KidambiCFO$1,450,959
01c

Board of directors

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

DirectorRoleFY2025 total
Caroline HornIndependent Director$138,300
Dexter FowlerFormer director (through FY2025)$123,300
Frank MartireFormer director (through FY2025)$123,300
Jennifer PrinceFormer director (through FY2025)$123,300
John CivantosIndependent Director$133,300
Moujan KazeraniIndependent Director$163,300
Ryan CaswellFormer director (through FY2025)$123,300
Tanmay KumarIndependent Director$173,300
Taryn NaiduIndependent Director$153,300
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
Brian CoppolaChief Ad Operations Officer2026-07-15D6,124$3$15,922CommonForm 4 ↗
Elizabeth SestanovichChief People Officer2026-07-15D7,058318,351CommonForm 4 ↗
Tridivesh KidambiChief Financial Officer2026-07-15D6,022315,657CommonForm 4 ↗
Daniel J. WeinrotGeneral Counsel & Secretary2026-07-15D9,156323,806CommonForm 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
Charles UrsiniRSU2025-07-29——337,500——
Tridivesh KidambiRSA2025-07-29——20,000——
Tridivesh KidambiRSU2025-07-29——50,000——
Marc MezzaccaRSA2025-07-29——20,000——
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 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Tridivesh KidambiPSU67,500—$225,325
Marc MezzaccaRSU15,000—71,150
Charles UrsiniRSU337,500—1,323,000
Michael BlendRSU187,500—550,625
Tridivesh KidambiRSU54,814—214,871
Michael BlendRSU62,500—158,750
Tridivesh KidambiRSU625—2,450
Tridivesh KidambiRSU5,000—19,550
Charles UrsiniPSU187,500—550,625
Marc MezzaccaRSU5,000—19,550
Charles UrsiniRSU62,500—158,750
Tridivesh KidambiRSU17,500—44,450
Tridivesh KidambiRSU50,000—196,000
Tridivesh KidambiRSU4,189—16,421
05

Incentive-plan design — the Compensation Discussion & Analysis

The Company's compensation program is designed to attract and retain talent by providing a competitive package that includes base salary, cash incentives, and equity awards. The program emphasizes alignment with shareholder value creation, with equity awards (such as SARs and RSUs) vesting based on the achievement of specific financial performance targets, primarily Adjusted EBITDA.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultant—
Clawback policytrue
Anti-hedgingfalse
Anti-pledgingfalse
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20252025-06-10—————
20242024-06-11—————
20232023-06-19—————

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
20252025-06-10—a
20242024-06-11—b
20232023-06-19—c

a. Approved under the standard stated in the filing — “Any shares of Class A Common Stock or Class C Common Stock that are not voted (whether by abstention or otherwise) will have no impact on the outcome of the vote with respect to these proposals.”.

b. Voting standard not stated in the filing.

c. 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.

07

CEO pay ratio

Ratio (CEO : median employee)—
CEO total compensation—
Median employee compensation—
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Tanmay KumarIndependent · Audit Committee (Chair)$80,000$93,300$0—$0$173,300
Moujan KazeraniIndependent · Audit Committee · Compensation Committee (Chair)70,00093,3000—0163,300
Taryn NaiduIndependent · Audit Committee · Compensation Committee60,00093,3000—0153,300
Caroline HornIndependent · Nominating and Corporate Governance Committee (Chair)45,00093,3000—0138,300
John CivantosIndependent · Nominating and Corporate Governance Committee40,00093,3000—0133,300
Jennifer PrinceIndependent · Departed during FY · Partial-year service30,00093,3000—0123,300
Ryan CaswellIndependent · Departed during FY30,00093,3000—0123,300
Dexter FowlerIndependent · Departed during FY · Partial-year service30,00093,3000—0123,300
Frank MartireIndependent · Departed during FY · Partial-year service30,00093,3000—0123,300
Michael BlendEmployee director · Board Chair · Nominating and Corporate Governance—————0
Charles UrsiniEmployee director · Nominating and Corporate Governance—————0
09

Board fee structure and ownership guideline

Annual cash retainer—
Annual equity retainer$180,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)50,000 / 20,000 / 15,000
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$415,000
Equity awards (grant-date value)$839,700
All other compensation$0
Total cost of the board$1,254,700

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
1System12025Michael Blend$0$601,490$0$0$636,333

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 System1 in fiscal 2025?
As disclosed, Marc Mezzacca (President, CouponFollow) was the highest-paid executive at System1 in fiscal 2025, with total compensation of $9,549,054.
How much does System1 spend in total on board compensation for fiscal 2025?
As disclosed, System1 reported total board compensation of $1,254,700 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.

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, Marc MezzaccaDEF 14A2026-06-220001805833-26-000040Section “Executive Compensation”. As printed: 9,549,054. Filing ↗machine: r8 · c42 · span 273159–273168
2Section 01, Charles UrsiniDEF 14A2026-06-220001805833-26-000040Section “Executive Compensation”. As printed: 3,474,339. Filing ↗machine: r4 · c42 · span 261088–261097
3Section 01, Tridivesh KidambiDEF 14A2026-06-220001805833-26-000040Section “Executive Compensation”. As printed: 1,450,959. Filing ↗machine: r6 · c42 · span 267126–267135
4Section 01, Michael BlendDEF 14A2026-06-220001805833-26-000040Section “Executive Compensation”. As printed: 636,333. Filing ↗machine: r2 · c42 · span 255022–255029
5Section 03, Charles Ursini RSUDEF 14A2026-06-220001805833-26-000040Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 287248–287255
6Section 03, Tridivesh Kidambi RSADEF 14A2026-06-220001805833-26-000040Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
7Section 03, Tridivesh Kidambi RSUDEF 14A2026-06-220001805833-26-000040Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
8Section 03, Marc Mezzacca RSADEF 14A2026-06-220001805833-26-000040Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
9Section 07, pay ratio10-K/A2026-04-300001805833-26-000018Section “CEO Pay Ratio”. As printed: —. Filing ↗
10Section 08, Tanmay KumarDEF 14A2026-06-220001805833-26-000040Section “Director Compensation”. As printed: 173,300. Filing ↗machine: span 419232–419462
11Section 08, Moujan KazeraniDEF 14A2026-06-220001805833-26-000040Section “Director Compensation”. As printed: 163,300. Filing ↗machine: span 418064–418294
12Section 08, Taryn NaiduDEF 14A2026-06-220001805833-26-000040Section “Director Compensation”. As printed: 153,300. Filing ↗machine: span 421642–421872
13Section 08, Caroline HornDEF 14A2026-06-220001805833-26-000040Section “Director Compensation”. As printed: 138,300. Filing ↗machine: span 416893–417123
14Section 08, John CivantosDEF 14A2026-06-220001805833-26-000040Section “Director Compensation”. As printed: 133,300. Filing ↗machine: span 414346–414478
15Section 08, Jennifer PrinceDEF 14A2026-06-220001805833-26-000040Section “Director Compensation”. As printed: 123,300. Filing ↗machine: span 422990–423220
16Section 08, Ryan CaswellDEF 14A2026-06-220001805833-26-000040Section “Director Compensation”. As printed: 123,300. Filing ↗machine: span 424257–424487
17Section 08, Dexter FowlerDEF 14A2026-06-220001805833-26-000040Section “Director Compensation”. As printed: 123,300. Filing ↗machine: span 415724–415954
18Section 08, Frank MartireDEF 14A2026-06-220001805833-26-000040Section “Director Compensation”. As printed: 123,300. Filing ↗machine: span 420475–420705
19Section 08, Michael BlendDEF 14A2026-06-220001805833-26-000040Section “Director Compensation”. As printed: 0. Filing ↗
20Section 08, Charles UrsiniDEF 14A2026-06-220001805833-26-000040Section “Director Compensation”. As printed: 0. Filing ↗
21Section 02, Brian Coppola 2026-07-15Form 42026-07-170001628280-26-048714Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Elizabeth Sestanovich 2026-07-15Form 42026-07-170001628280-26-048715Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Tridivesh Kidambi 2026-07-15Form 42026-07-170001628280-26-048713Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Daniel J. Weinrot 2026-07-15Form 42026-07-170001628280-26-048712Insider equity transaction reported since the proxy statement. Filing ↗
25Section 06, 2025 voteForm 8-K2025-06-100001628280-25-030451Item 5.07 · say-on-pay result. As reported: —. Filing ↗
26Section 06, 2024 voteForm 8-K2024-04-290001805833-24-000070Item 5.07 · say-on-pay result. As reported: —. Filing ↗
27Section 06, 2023 voteForm 8-K2023-06-070001805833-23-000086Item 5.07 · say-on-pay result. As reported: —. Filing ↗
28Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
29Section 09b board cost (computed)Computed——Cash 415,000 + equity 839,700 + all other 0 = 1,254,700, summed across the director compensation table rows.machine: formula: Σ = 1,254,700
30System1 (subject), Section 10b CEO totalDEF 14A2026-06-220001805833-26-000040CEO total compensation as printed in System1's own proxy. As printed: 636,333. Filing ↗machine: r2 · c42 · span 255022–255029

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