M
MARA Holdings
MARA · Power Shells
$11.43
-0.49 (-4.11%)
As of Sep 10, 2026 close
Executive Compensation — FY2025 Proxy
DEF 14A filed Apr 30, 2026CEO Total Comp
$27.1M
Fred Thiel · FY2025
YoY Change
-37.4%
FY2024: $43.2M
CEO Pay Ratio
134:1
median employee $201.3K
Named Executives
3
CEO · CFO · GC
Equity Share of Comp
72%
of CEO total
Compensation Over Time
CEO total by component · from Summary Compensation TableSalaryCash BonusEquity AwardsAll Other
“All Other” includes non-equity incentive compensation (see table below for the breakout).
Summary Compensation Table
Officer × year · extracted from DEF 14A · analyst-reviewed| Name & Position | Year | Salary | Cash Bonus | Equity Awards | Non-Equity Incentive | All Other | Total |
|---|---|---|---|---|---|---|---|
Fred Thiel Chief Executive Officer and Chairman of the Board | 2025 | $978,500 | — | $19,518,868 | $2,201,625 | $4,354,243 | $27,053,236 |
| 2024 | $950,000 | — | $40,094,856 | $1,998,563 | $201,390 | $43,244,809 | |
| 2023 | $800,000 | $1,800,000 | $33,506,720 | — | $9,900 | $36,116,620 | |
Salman Khan Chief Financial Officer | 2025 | $643,750 | — | $12,841,346 | $1,448,438 | $3,956,898 | $18,890,432 |
| 2024 | $625,000 | — | $26,378,209 | $1,314,844 | $123,073 | $28,441,126 | |
| 2023 | $241,099 | $623,438 | $20,168,367 | — | $134,900 | $21,167,804 | |
Zabi Nowaid General Counsel and Corporate Secretary | 2025 | $386,250 | — | $5,136,543 | $579,375 | $10,500 | $6,112,668 |
| 2024 | $375,000 | $125,000 | $10,551,293 | $525,938 | $9,844 | $11,587,075 |
Equity Awards reported combined (RSU/PSU) per MARA’s SCT format · footnote sub-breakdowns preserved in source quotes.
Pay vs Performance
Compensation actually paid vs TSR · XBRL (Item 402(v))CEO comp actually paidAvg other NEOTSR (indexed, right)
Pay vs Performance — Detail
| FY | CEO Paid | Avg NEO Paid | TSR | Net Income |
|---|---|---|---|---|
| 2025 | $6.2M | $3.7M | 86.0 | $-1.3B |
| 2024 | $52.1M | $24.7M | 161.0 | $541.3M |
| 2023 | $29.5M | $6.5M | 225.0 | $259.1M |
| 2022 | $5.9M | $380.4K | 33.0 | $-694.0M |
| 2021 PEO: Merrick Okamoto | $199.4M | $3.2M | 315.0 | $-29.8M |
TSR = value of $100 invested at the earliest disclosed fiscal year end · “actually paid” per SEC 402(v) methodology · source filing
Summary Compensation Table extracted from SEC DEF 14A proxy statements (Claude-assisted, analyst-reviewed before publication; source quotes pinned per figure). Pay-versus-performance from Inline XBRL (ECD taxonomy) with HTML fallback where issuer tagging is incomplete. Updated annually on proxy filing (~120 days after fiscal year end).