Velarion · Company Intelligence
Compensation Brief
Fiscal year 2024 · Filings through 2026-04-28

TrueCar (TRUE)

Fiscal year 2024 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.

$4,590,916
Jantoon Reigersman total, FY2024
59th
CEO pay percentile vs peers
25:1
CEO-to-median pay ratio
79.23%
Say-on-pay support, latest vote
Companies that benchmark against TRUE
9 companies name TRUE as a compensation peer

Each company listed discloses TRUE 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 TRUE 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 2024

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Jantoon Reigersman$500,000$0$3,751,576$0$304,000$0$35,340$4,590,916
President and CEO
Oliver Foley400,00001,193,6810121,600013,8021,729,083
CFO
Jay Ku400,00001,193,6810121,60008,2591,723,540
Chief Revenue Officer
Jeffrey Swart400,0000937,8910121,600040,0051,499,496
EVP, General Counsel and Secretary
Jill Angel400,0000937,8910121,600015,0891,474,580
COO

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 officerFY2024 totalFY2023 totalFY2022 totalΔ FY20232024
Jantoon Reigersman$4,590,916$3,826,018$3,175,927+764,898
Oliver Foley1,729,083906,272+822,811
Jay Ku1,723,5401,111,285+612,255
Jeffrey Swart1,499,4961,120,8371,466,585+378,659
Jill Angel1,474,580

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

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2024

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Oliver FoleyRSU2023-10-30150,000$276,000
Jeffrey SwartPSU2023-03-015,052126,316221,053358,737
Teresa T. LuongPSU2023-03-014,886122,150213,762346,906
Michael D. DarrowRSU2022-03-31260,0001,027,000
Jantoon ReigersmanPSU2023-03-0112,126303,158530,526860,969
Jay KuPSU2023-03-014,886122,150213,762346,906
Michael D. DarrowPSU2022-03-3119,107477,690835,9572,440,996
Oliver FoleyPSU2023-10-308,979224,493392,862457,966
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Oliver Foley$276,000$457,966$062.4%
Jeffrey Swart0358,7370100.0%
Teresa T. Luong0346,9060100.0%
Michael D. Darrow1,027,0002,440,996070.4%
Jantoon Reigersman0860,9690100.0%
Jay Ku0346,9060100.0%

% 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 2024

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Jill AngelRSU120,449$449,275
Jill AngelRSU120,000447,600
Jantoon ReigersmanRSU30,364113,258
Jill AngelRSU75,263280,731
Jill AngelRSU45,000167,850
Jantoon ReigersmanRSU80,000298,400
Jantoon ReigersmanOption17,1604.67
Jantoon ReigersmanRSU4,90218,284
Jill AngelRSU45,336169,103
Jantoon ReigersmanRSU113,684424,041
Jantoon ReigersmanRSU617,1071,963,310
Jantoon ReigersmanRSU302,3621,127,810
Jill AngelRSU63,275212,036
Jantoon ReigersmanRSU301,0521,122,924
Oliver FoleyRSU224,493837,359
Oliver FoleyRSU95,789357,293
Oliver FoleyRSU176,842659,621
Jay KuRSU176,842659,621
Oliver FoleyRSU121,875454,594
Jeffrey SwartRSU116,016397,291
Jay KuRSU95,789357,293
Jay KuRSU65,789245,393
Jeffrey SwartRSU47,369176,686
Jeffrey SwartRSU28,333105,682
Jeffrey SwartOption146,73618.91
Jeffrey SwartOption54,4326.93
Jeffrey SwartOption1,9415.18
Jantoon ReigersmanRSU555,7892,073,093
Jantoon ReigersmanRSU303,1581,130,779
Jeffrey SwartOption127,2732.68
Jeffrey SwartRSU3,43112,798
Oliver FoleyRSU50,230168,994
Jay KuRSU122,150455,620
Jay KuRSU48,421163,508
Jeffrey SwartOption200,00010.85
Jantoon ReigersmanOption2,7735.18
Jeffrey SwartRSU107,086399,431
Jantoon ReigersmanRSU442,4771,650,439
Jill AngelRSU138,947518,272
Jeffrey SwartRSU75,263280,731
Jeffrey SwartRSU126,316471,159
Jeffrey SwartOption78,3379.59
Jeffrey SwartRSU138,947518,272
05

Incentive-plan design — the Compensation Discussion & Analysis

The compensation committee works to design a compensation program for our NEOs to facilitate the attraction and retention of key executive talent in a highly competitive technology job market, align employees interests with those of stockholders and motivate the creation of sustainable growth in enterprise value.

CEO STI target (% of salary)100%
CEO LTI target (% of salary)
Independent consultantSemler Brossy
Clawback policytrue
Anti-hedging
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20242024-05-2334,370,963792,5768,215,91779.23%Passed
20232023-06-2270,308,411511,35935,38699.23%Passed
20222022-05-2664,895,3402,437,8924,047,71190.91%Passed
20212021-05-2051,647,0882,307,454115,54095.52%Passed
20202020-05-2144,916,53120,212,26834,31068.93%Passed
20192019-05-1669,827,315729,8274,28298.96%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
20242024-05-2379.23%a
20232023-06-2299.23%b
20222022-05-2690.91%c

a. Approved under the standard stated in the filing — “Abstentions are treated as shares present and entitled to vote for purposes of such proposals and, therefore, will have the same effect as a vote "against" the proposal.”.

b. Approved under the standard stated in the filing — “Abstentions are treated as shares present and entitled to vote for purposes of such proposals and, therefore, will have the same effect as a vote "against" the proposal.”.

c. Approved under the standard stated in the filing — “Abstentions are treated as shares present and entitled to vote for purposes of such proposals and, therefore, will have the same effect as a vote "against" the proposal.”.

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)25 : 1
CEO total compensation
Median employee compensation
08

Director compensation — fiscal year 2024

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Barbara A. CarboneIndependent · Board Chair · Audit (Chair) · Compensation and Workforce$92,604$149,999$0$0$0$242,603
Faye M. IosotalunoIndependent · Compensation and Workforce (Chair) · Audit76,563149,999000226,562
Erin N. LantzIndependent · Audit · Compensation and Workforce · Not standing for re-election76,458149,999000226,457
Robert E. BuceIndependent · Nominating and Corporate Governance (Chair) · Audit67,708149,999000217,707
Brendan L. HarringtonIndependent · Nominating and Corporate Governance60,000149,999000209,999
Jantoon E. ReigersmanEmployee director000000
Diego A. RodriguezIndependent · Compensation and Workforce · Nominating and Corporate Governance · Newly elected000000
09

Board fee structure and ownership guideline

Annual cash retainer$55,000
Annual equity retainer$150,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)20,000 / 15,000 / 10,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2024
Cash retainers and fees$373,333
Equity awards (grant-date value)$749,995
All other compensation$0
Total cost of the board$1,123,328

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2024

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies TrueCar 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 TrueCar.

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
1Mitek System2025Edward H. West$500,000$7,902,361$0$761,500$9,414,057
2EverQuote2025Jayme Mendal595,0007,781,8660818,1259,209,231
3PROS Holdings2024Andres Reiner540,0008,108,9370392,0409,058,301
4Zuora2024Tien Tzuo500,0007,950,0000337,5008,787,500
5Eventbrite2024Julia Hartz497,5005,999,992006,498,392
6Liquidity Services2025William P. Angrick, III470,0002,726,2821,183,455726,1505,121,971
7Cardlytics2025Amit Gupta550,0023,996,0000166,1005,030,252
8Cars.com2025Tobias Hartmann20,5485,000,005005,020,553
9TrueCar2024Jantoon Reigersman500,0003,751,5760304,0004,590,916
10Quotient Technology2022Matthew Krepsik450,5212,901,8011,227,48004,585,802
11Synchronoss Technologies2024Jeffrey Miller520,0002,816,0000449,2803,842,280
12OneSpan2025Victor Limongelli600,0002,500,0210150,0003,627,046
131stdibs.com2025David Rosenblatt500,0002,310,4000500,0003,310,400
14DHI Group2025Art Zeile577,5001,345,0000517,0422,462,608
15TechTarget2025Gary Nugent562,500703,129001,265,629
16eGain2025Ashutosh Roy250,0000161,83560,000471,835
ChannelAdvisornot in coverage universe
ON24not in coverage universe

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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
TrueCar60.8%PSU 60 · RSU 40NoSemler Brossy
1stdibs.com100%RSU 100not disclosednot disclosed
Cardlytics30%not disclosedNoMeridian Compensation Partners
Cars.com80.4%PSU 50 · RSU 50NoKorn Ferry (Jan–Jul 2025); Compensia Inc. (Aug 2025 onward)
ChannelAdvisornot disclosednot disclosednot disclosednot disclosed
DHI Group89.5%PSU 50 · RSU 50NoCompensia
eGainnot disclosednot disclosednot disclosednot disclosed
Eventbritenot disclosedRSU 50 · PSU 50NoMeridian Compensation Partners, LLC
EverQuote137.5%PSU 50 · RSU 50NoCompensia, Inc.
Liquidity Services103%RSU 70 · Options 30NoAon plc
Mitek System152.3%PSU 80 · RSU 20NoFrederic W. Cook & Company, Inc.
ON2479.3%not disclosedNoCompensia
OneSpan25%PSU 75 · RSU 25NoFrederic W. Cook & Co, Inc.
PROS Holdings66%RSU 60 · MSU 40NoFW Cook
Quotient Technologynot disclosedRSU 50 · PSU 50NoAon
Synchronoss Technologies86.4%LTIP Units 65 · RSU 35Yes — Total Shareholder Return (TSR)Grant Thornton Advisors LLC
TechTargetnot disclosedRSU 100not disclosednot disclosed
Zuora67.5%not disclosedNoCompensia

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.

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, Jantoon ReigersmanDEF 14A2025-04-080001104659-25-033025Section “2024 Summary Compensation Table” · page 37. As printed: 4,590,916. Filing ↗machine: r1 · c48 · span 753906–753915
2Section 01, Oliver FoleyDEF 14A2025-04-080001104659-25-033025Section “2024 Summary Compensation Table” · page 37. As printed: 1,729,083. Filing ↗machine: r4 · c48 · span 769195–769204
3Section 01, Jay KuDEF 14A2025-04-080001104659-25-033025Section “2024 Summary Compensation Table” · page 37. As printed: 1,723,540. Filing ↗machine: r12 · c48 · span 811854–811863
4Section 01, Jeffrey SwartDEF 14A2025-04-080001104659-25-033025Section “2024 Summary Compensation Table” · page 37. As printed: 1,499,496. Filing ↗machine: r9 · c48 · span 795563–795572
5Section 01, Jill AngelDEF 14A2025-04-080001104659-25-033025Section “2024 Summary Compensation Table” · page 37. As printed: 1,474,580. Filing ↗machine: r6 · c48 · span 780228–780237
6Section 03, Oliver Foley RSUDEF 14A2025-04-080001104659-25-033025Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 362984–362991
7Section 03, Jeffrey Swart PSUDEF 14A2025-04-080001104659-25-033025Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t23 · r12 · c28 · span 1039169–1039176
8Section 03, Teresa T. Luong PSUDEF 14A2025-04-080001104659-25-033025Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗
9Section 03, Michael D. Darrow RSUDEF 14A2024-04-080001104659-24-044723Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗
10Section 03, Jantoon Reigersman PSUDEF 14A2025-04-080001104659-25-033025Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t22 · r9 · c28 · span 938107–938114
11Section 03, Jay Ku PSUDEF 14A2025-04-080001104659-25-033025Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t23 · r17 · c28 · span 1058601–1058608
12Section 03, Michael D. Darrow PSUDEF 14A2024-04-080001104659-24-044723Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t21 · r2 · c7 · span 834325–834328
13Section 03, Oliver Foley PSUDEF 14A2025-04-080001104659-25-033025Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t22 · r14 · c31 · span 955622–955629
14Section 07, pay ratioDEF 14ASection “CEO Pay Ratio”. As printed: 25 : 1.machine: span 1231056–1231063
15Section 08, Barbara A. CarboneDEF 14A2024-04-080001104659-24-044723Section “Director Compensation”. As printed: 242,603. Filing ↗machine: t8 · r1 · c16 · span 401297–401304
16Section 08, Faye M. IosotalunoDEF 14A2024-04-080001104659-24-044723Section “Director Compensation”. As printed: 226,562. Filing ↗machine: t8 · r5 · c16 · span 409860–409867
17Section 08, Erin N. LantzDEF 14A2024-04-080001104659-24-044723Section “Director Compensation”. As printed: 226,457. Filing ↗machine: t8 · r6 · c16 · span 412124–412131
18Section 08, Robert E. BuceDEF 14A2024-04-080001104659-24-044723Section “Director Compensation”. As printed: 217,707. Filing ↗machine: t8 · r2 · c16 · span 403561–403568
19Section 08, Brendan L. HarringtonDEF 14A2024-04-080001104659-24-044723Section “Director Compensation”. As printed: 209,999. Filing ↗machine: t8 · r4 · c16 · span 407895–407902
20Section 08, Jantoon E. ReigersmanDEF 14A2024-04-080001104659-24-044723Section “Director Compensation”. As printed: 0. Filing ↗
21Section 08, Diego A. RodriguezDEF 14A2024-04-080001104659-24-044723Section “Director Compensation”. As printed: 0. Filing ↗
22Section 06, 2024 voteForm 8-K2024-05-240001327318-24-000022Item 5.07 · say-on-pay result. As reported: 79.23% (votes for as printed: 34,370,963). Filing ↗
23Section 06, 2023 voteForm 8-K2023-06-230001104659-23-074344Item 5.07 · say-on-pay result. As reported: 99.23% (votes for as printed: 70,308,411). Filing ↗
24Section 06, 2022 voteForm 8-K2022-05-270001327318-22-000019Item 5.07 · say-on-pay result. As reported: 90.91%. Filing ↗
25Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
26Section 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
27Section 09b board cost (computed)ComputedcomputedCash 373,333 + equity 749,995 + all other 0 = 1,123,328, summed across the director compensation table rows.machine: formula: Σ = 1,123,328
28Mitek System, Section 10b CEO totalDEF 14A2026-01-260001628280-26-003469CEO total compensation as printed in Mitek System's own proxy. As printed: 9,414,057. Filing ↗machine: span 685482–685491
29EverQuote, Section 10b CEO totalDEF 14A2026-04-230001193125-26-173669CEO total compensation as printed in EverQuote's own proxy. As printed: 9,209,231. Filing ↗machine: r2 · c31 · span 394114–394123
30PROS Holdings, Section 10b CEO totalDEF 14A2025-03-280001392972-25-000049CEO total compensation as printed in PROS Holdings's own proxy. As printed: 9,058,301. Filing ↗machine: span 567309–567318
31Zuora, Section 10b CEO totalDEF 14A2024-05-160001423774-24-000146CEO total compensation as printed in Zuora's own proxy. As printed: 8,787,500. Filing ↗machine: r2 · c42 · span 699493–699502
32Eventbrite, Section 10b CEO totalDEF 14A2025-04-240001475115-25-000056CEO total compensation as printed in Eventbrite's own proxy. As printed: 6,498,392. Filing ↗machine: t95 · r3 · c9 · span 625047–625056
33Liquidity Services, Section 10b CEO totalDEF 14A2026-01-160001193125-26-015327CEO total compensation as printed in Liquidity Services's own proxy. As printed: 5,121,971. Filing ↗machine: t56 · r2 · c8 · span 1256302–1256311
34Cardlytics, Section 10b CEO totalDEF 14A2026-04-090001628280-26-024446CEO total compensation as printed in Cardlytics's own proxy. As printed: 5,030,252. Filing ↗machine: span 289415–289424
35Cars.com, Section 10b CEO totalDEF 14A2026-04-170001140361-26-015383CEO total compensation as printed in Cars.com's own proxy. As printed: 5,020,553. Filing ↗machine: t136 · r12 · c13 · span 937383–937392
36TrueCar (subject), Section 10b CEO totalDEF 14A2025-04-080001104659-25-033025CEO total compensation as printed in TrueCar's own proxy. As printed: 4,590,916. Filing ↗machine: r1 · c48 · span 753906–753915
37Quotient Technology, Section 10b CEO totalDEF 14A2023-06-300001115128-23-000037CEO total compensation as printed in Quotient Technology's own proxy. As printed: 4,585,802. Filing ↗machine: r2 · c24 · span 776556–776565
38Synchronoss Technologies, Section 10b CEO totalDEF 14A2025-04-290001140361-25-016310CEO total compensation as printed in Synchronoss Technologies's own proxy. As printed: 3,842,280. Filing ↗machine: r2 · c25 · span 973036–973045
39OneSpan, Section 10b CEO totalDEF 14A2026-04-230001044777-26-000011CEO total compensation as printed in OneSpan's own proxy. As printed: 3,627,046. Filing ↗machine: t87 · r3 · c25 · span 887252–887261
401stdibs.com, Section 10b CEO totalDEF 14A2026-03-260001600641-26-000011CEO total compensation as printed in 1stdibs.com's own proxy. As printed: 3,310,400. Filing ↗machine: r2 · c15 · span 291759–291768
41DHI Group, Section 10b CEO totalDEF 14A2026-04-020001393883-26-000058CEO total compensation as printed in DHI Group's own proxy. As printed: 2,462,608. Filing ↗machine: r2 · c48 · span 700777–700786
42TechTarget, Section 10b CEO totalDEF 14A2026-04-280001193125-26-187238CEO total compensation as printed in TechTarget's own proxy. As printed: 1,265,629. Filing ↗machine: t30 · r2 · c20 · span 667500–667509
43eGain, Section 10b CEO totalDEF 14A2025-10-170001066194-25-000019CEO total compensation as printed in eGain's own proxy. As printed: 471,835. Filing ↗machine: r2 · c14 · span 422897–422904
44Section 10a, Zuora reciprocityDEF 14A0001423774-24-000146Zuora's most recent proxy was read; its disclosed peer group does not include TrueCar. Filing ↗
45Section 10a, PROS Holdings reciprocityDEF 14A0001392972-25-000049PROS Holdings's most recent proxy was read; its disclosed peer group does not include TrueCar. Filing ↗
46Section 10a, Mitek System reciprocityDEF 14A0001628280-26-003469Mitek System's most recent proxy was read; its disclosed peer group does not include TrueCar. Filing ↗
47Section 10a, Cars.com reciprocityDEF 14A0001140361-26-015383Cars.com names TrueCar in its own disclosed peer group (read from its most recent proxy). Filing ↗
48Section 10a, Liquidity Services reciprocityDEF 14A0001193125-26-015327Liquidity Services names TrueCar in its own disclosed peer group (read from its most recent proxy). Filing ↗
49Section 10a, DHI Group reciprocityDEF 14A0001393883-26-000058DHI Group's most recent proxy was read; its disclosed peer group does not include TrueCar. Filing ↗
50Section 10a, Quotient Technology reciprocityDEF 14A0001115128-23-000037Quotient Technology names TrueCar in its own disclosed peer group (read from its most recent proxy). Filing ↗
51Section 10a, Eventbrite reciprocityDEF 14A0001475115-25-000056Eventbrite's most recent proxy was read; its disclosed peer group does not include TrueCar. Filing ↗
52Section 10a, OneSpan reciprocityDEF 14A0001044777-26-000011OneSpan's most recent proxy was read; its disclosed peer group does not include TrueCar. Filing ↗
53Section 10a, TechTarget reciprocityDEF 14A0001193125-26-187238TechTarget's most recent proxy was read; its disclosed peer group does not include TrueCar. Filing ↗
54Section 10a, Synchronoss Technologies reciprocityDEF 14A0001140361-25-016310Synchronoss Technologies's most recent proxy was read; its disclosed peer group does not include TrueCar. Filing ↗