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MARA Holdings, Inc.

MARA · FY2025

ALIGNED

CEO Package

$27.1M

Pay Ratio

—

Fred Thiel

Pay fell roughly in step with TSR

AMERICAN EXPRESS CO

AXP · FY2025

MISALIGNED

CEO Package

$46.2M

Pay Ratio

—

S.J. Squeri

Pay rose +24.4% while TSR fell -33.8 pts

Coinbase Global, Inc.

COIN · FY2025

MISALIGNED

CEO Package

$9.7M

Pay Ratio

—

Brian Armstrong

Pay rose +34.2% while TSR fell -51.7 pts

CEOTotal Compensation — All Companies

MARA$27.1MAXP$46.2MCOIN$9.7M

All values are grant-date fair value as reported in proxy statements.

Key Differences

The fastest way to read this comparison before dropping into the tables.

AXP carries the largest package at $46.2M, about 4.8x COIN.
AXP reads misaligned, while MARA looks aligned.
MARA is the most equity-heavy package, while COIN leans hardest on other compensation.

Pay Component Breakdown

Latest CEO package mix by company. This stays on the CEO package even if the chart above is showing Top 5 pay.

MARA

Fred Thiel

$27.1M

base salary4%
stock awards72%
non-equity incentive compensation8%
other compensation16%

AXP

S.J. Squeri

$46.2M

base salary4%
stock awards51%
option awards12%
other compensation9%

COIN

Brian Armstrong

$9.7M

base salary10%
other compensation90%

Quick Comparison

CompanyCEOLatest YearTotal Comp
MARA Holdings, Inc.(MARA)Fred Thiel2025$27.1M
AMERICAN EXPRESS CO(AXP)S.J. Squeri2025$46.2M
Coinbase Global, Inc.(COIN)Brian Armstrong2025$9.7M

Note: All compensation values shown are grant-date fair value as reported in proxy statements. Direct comparisons should account for differences in company size, industry, and compensation structure.

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