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

Upexi (UPXI)

CEO Allan Marshall was paid $2,502,194 in fiscal year 2025, ↑ up 129.4% from fiscal year 2024 (SEC filing 0001477932-26-002762 ↗): 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.

$2,502,194 ↑
Allan Marshall total, FY2025
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CEO pay percentile vs peers
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CEO-to-median pay ratio
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UPXI's next annual pay disclosure, estimated April 28, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Allan Marshall$840,000$399,231$171,000$1,091,963$0$0$0$2,502,194
Chairman and Chief Executive Officer
Andrew Norstrud266,385350,000228,0000000844,385
Chief Financial Officer
Brian Rudick25,38500000025,385
Chief Strategy 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
Allan Marshall$2,502,194$1,090,769—↑ +1,411,425
Andrew Norstrud844,385250,000—↑ +594,385
Brian Rudick25,385———

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 UPXI

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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
Gene SalkindIndependent Director$188,846
Lawrence H. DuganIndependent Director$112,232
Thomas C. WilliamsIndependent Director$110,232
02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Andrew NorstrudPSU80,000—$238,400
Allan MarshallPSU75,000—223,500
05

Incentive-plan design — the Compensation Discussion & Analysis

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultant—
Clawback policytrue
Anti-hedgingfalse
Anti-pledging—
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
Gene SalkindIndependent · Audit Committee · Compensation Committee · Nominating and Governance Committee$25,000$0$163,846—$0$188,846
Lawrence H. DuganIndependent · Audit Committee · Compensation Committee · Nominating and Governance Committee27,000085,232—0112,232
Thomas C. WilliamsIndependent · Audit Committee · Compensation Committee · Nominating and Governance Committee25,000085,232—0110,232
Allan MarshallEmployee director · Board Chair—————0
Andrew J. NorstrudEmployee director—————0
09

Board fee structure and ownership guideline

Annual cash retainer$25,000
Annual equity retainer—
Per board meeting fee$5,000
Committee chair fees (audit / comp / nom-gov)2,000
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$77,000
Equity awards (grant-date value)$0
All other compensation$0
Total cost of the board$77,000

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
1Upexi2025Allan Marshall$840,000$171,000$1,091,963$0$2,502,194

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 Upexi in fiscal 2025?
As disclosed, Allan Marshall (Chairman and Chief Executive Officer) was the highest-paid executive at Upexi in fiscal 2025, with total compensation of $2,502,194.
How much does Upexi spend in total on board compensation for fiscal 2025?
As disclosed, Upexi reported total board compensation of $77,000 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, Allan MarshallDEF 14A2026-05-050001477932-26-002762Section “SUMMARY COMPENSATION TABLE”. As printed: 2,502,194. Filing ↗machine: r1 · c33 · span 180825–180834
2Section 01, Andrew NorstrudDEF 14A2026-05-050001477932-26-002762Section “SUMMARY COMPENSATION TABLE”. As printed: 844,385. Filing ↗machine: r4 · c33 · span 193263–193270
3Section 01, Brian RudickDEF 14A2026-05-050001477932-26-002762Section “SUMMARY COMPENSATION TABLE”. As printed: 25,385. Filing ↗machine: r7 · c33 · span 202484–202490
4Section 07, pay ratio10-K2025-09-240001477932-25-006996Section “CEO Pay Ratio”. As printed: —. Filing ↗
5Section 08, Gene SalkindDEF 14A2026-05-050001477932-26-002762Section “Director Compensation”. As printed: 188,846. Filing ↗machine: span 276352–276359
6Section 08, Lawrence H. DuganDEF 14A2026-05-050001477932-26-002762Section “Director Compensation”. As printed: 112,232. Filing ↗machine: span 269552–269559
7Section 08, Thomas C. WilliamsDEF 14A2026-05-050001477932-26-002762Section “Director Compensation”. As printed: 110,232. Filing ↗machine: span 283150–283157
8Section 08, Allan MarshallDEF 14A2026-05-050001477932-26-002762Section “Director Compensation”. As printed: 0. Filing ↗
9Section 08, Andrew J. NorstrudDEF 14A2026-05-050001477932-26-002762Section “Director Compensation”. As printed: 0. Filing ↗
10Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
11Section 09b board cost (computed)Computed——Cash 77,000 + equity 0 + all other 0 = 77,000, summed across the director compensation table rows.machine: formula: Σ = 77,000
12Upexi (subject), Section 10b CEO totalDEF 14A2026-05-050001477932-26-002762CEO total compensation as printed in Upexi's own proxy. As printed: 2,502,194. Filing ↗machine: r1 · c33 · span 180825–180834

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