Research Reports

Key takeaways

Board approved 2026 Bonus Program with payouts based on net revenues, financial income, operating income, TPV-adjusted, and Net Promoter Score, targeting 33.33% of annual base salary for each NEO.

2026 LTRP adopted providing annual cash payments over six years subject to continued employment, with first payment January-April 2027.

Ariel Szarfsztejn (CEO) target LTRP award: $14,000,000.

Osvaldo Giménez (Fintech President) and Daniel Rabinovich (Technology & Operations President) each receive $10,000,000 target LTRP award.

Martin de los Santos (EVP & CFO): $4,000,000; Marcos Galperin (Executive Chairman): $3,500,000 target LTRP award.

LTRP includes fixed payments plus stock price-linked variable component based on 60-day average closing prices.

Full analysis

On March 31, 2026, MercadoLibre's Board established performance goals for the 2026 Bonus Program tying NEO compensation to key metrics including net revenues and financial income (constant dollars), income from operations (constant dollars), total payment volume-adjusted (constant dollars), and Competitive Net Promoter Score, with target bonuses at four months base salary and individual adjustments up to ±50%. Concurrently, the Board adopted the 2026 Long Term Retention Program following a competitiveness analysis by an independent consultant, offering NEOs annual cash payments over six years contingent on continued employment. Payments comprise a fixed 16.66% of half the target award plus a variable portion scaled by the ratio of the applicable year stock price (60-day average) to the 2025 year-end average, aligning incentives with shareholder value creation. Target awards range from $3.5 million for Executive Chairman Marcos Galperin to $14 million for CEO Ariel Szarfsztejn, signaling strong retention focus on top leadership amid competitive talent markets.

MELI · MercadoLibre, Inc.

Summary

Key takeaways

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