Research Reports

Key takeaways

The Compensation Committee approved final FY2025 non-equity incentive plan payments for named executive officers.

CEO Charles E. Bradley, Jr.'s total compensation for FY2025 was $5,439,647, including a non-equity incentive payment of $3,283,500.

President & COO Michael T. Lavin's total FY2025 compensation was $1,386,590, with a non-equity incentive payment of $448,693.

EVP & CFO Danny Bharwani's total FY2025 compensation was $1,254,849, including a non-equity incentive payment of $479,808.

The CEO's incentive was based on seven weighted objectives totaling 720% of base salary, including budget, securitizations, originations, expenses, financing, contracts, and stock price targets.

Full analysis

The filing provides a revised Summary Compensation Table with final FY2025 non-equity incentive plan payments that were previously omitted. The Compensation Committee evaluated and approved payments under the Executive Management Bonus Plan. For the CEO, the incentive was structured around seven specific objectives with a total weighting of 720% of base salary, including quarterly budget targets, securitization transactions, receivable originations, expense reduction, financing deals, forward flow contracts, and stock price performance. For the CFO and President, payments were determined using factors like skills, individual objectives, departmental performance, company performance, and discretionary allocation, with maximums of 140% and 160% of base compensation respectively. This disclosure completes the compensation reporting for FY2025 that was incomplete in the March 2026 10-K filing.