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Fred Thiel received $7.5M in total compensation as Chief Executive Officer and Chairman of the Board of MARA Holdings, Inc. in FY2025. The largest component was $4.4M in other compensation. That’s up 139% from FY2024. Source: SEC DEF 14A.
In fiscal year 2025, Fred Thiel, Chief Executive Officer and Chairman of the Board of MARA Holdings, Inc. (MARA), received total compensation of $7.5 million.
Fred Thiel's compensation breakdown includes: base salary of $979K, non-equity incentive compensation of $2.2 million, and other compensation of $4.4 million.
Compared to fiscal year 2024, Fred Thiel's total compensation increased 139% from $3.1 million to $7.5 million.
MARA Holdings, Inc.'s top 3 named executive officers received combined total compensation of $14.6 million in fiscal year 2025.
The named executive officers disclosed in MARA Holdings, Inc.'s 2025 proxy statement are:Fred Thiel (Chief Executive Officer and Chairman of the Board) with total compensation of $7.5 million, Salman Khan (Chief Financial Officer) with total compensation of $6.0 million, and Zabi Nowaid (General Counsel and Corporate Secretary) with total compensation of $976K.
Source Filing
Executive Record
Fred Thiel
Chief Executive Officer and Chairman of the Board
Reported Pay
$7.5M
Summary compensation table total · FY2025
Findings
Reviewing FY2025 compensation of $7.5M against -46% shareholder return and the latest filing-backed pay disclosures.
Reported pay changed +139%; spread versus stock performance is pending computation.
Evidence is sourced from the latest executive compensation filing and return series for MARA.
Team view
3 executives
Chief Executive Officer and Chairman of the Board
Total PayFY2025
$7.5M
Chief Financial Officer
Total PayFY2025
$6.0M
General Counsel and Corporate Secretary
Total PayFY2025
$976K
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01FY2025 total compensation breakdown
$7.5M total compensation
Fred Thiel earned $7.5M in FY2025— here's how that breaks down.
$4.4M
58% of total
$2.2M
29% of total
$978.5K
13% of total
Activity timeline · FY2025
Recent events from filings
Apr 30, 2026
Fred Thiel Equity award
Apr 30, 2026
Salman Khan Equity award
Apr 30, 2026
Zabi Nowaid Equity award
Apr 30, 2026
Fred Thiel grant (Equity)
Feb 28, 2025
Fred Thiel Equity award (847,753 target units, 2,110,905 maximum)
Feb 28, 2025
Salman Khan Equity award (557,731 target units, 1,388,750 maximum)
Feb 28, 2025
Zabi Nowaid Equity award (223,093 target units, 555,502 maximum)
Feb 28, 2025
Fred Thiel grant (Equity)
A pay-performance summary will appear here once the verdict loads above.
02Pay changes vs. stock performance
1 year of data
Peer context
Dashed line marks the mid-cap median compensation benchmark for companies around $5.3B market cap, based on 453 peers in this size band.
03Recent insider trades by officers and directors
~24 trades
04Showing FY2025 data (latest available)
FY2026does not include director compensation in our current dataset, so we're showing the latest board table we found.
We're loading the latest director compensation and board makeup.
05Take action on executive compensation
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06For analysts and deep research
Historical compensation data from latest proxy filing
| Year | Executive | Salary | Bonus & Incentive | Stock Awards | Option Awards | Other Adj. | Total |
|---|---|---|---|---|---|---|---|
| 2025 | $0.98M | $2.20M | $0.00M | $0.00M | $4.35M | $7.53M | |
| 2024 | $0.95M | $2.00M | $0.00M | $0.00M | $0.20M | $3.15M | |
| 2023 | $0.80M | $0.00M | $0.00M | $0.00M | $0.01M | $0.81M | |
| 2022 | $0.68M | $0.00M | $0.00M | $0.00M | $0.00M | $0.68M |
Salary = base cash pay. Bonus & Incentive combines annual bonus and non-equity plans. Equity amounts are grant-date fair values. Other Adj. captures pension changes, perquisites, and any reconciliation items so the total matches the reported figure.
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MARA Holdings, Inc. (MARA) — Key Facts
Last updated May 21, 2026 · DEF 14A filed Apr 30, 2026
| CEO | Fred Thiel, Chief Executive Officer and Chairman of the Board |
|---|---|
| Fiscal year | FY2025 |
| Total compensation | $7.5M |
| Base salary | $979K |
| Other compensation | $4.4M |
| Year-over-year change | +139% |
| Source | DEF 14A, 2026-04-30 |
Fred Thiel, the Chief Executive Officer and Chairman of the Board of MARA Holdings, Inc., received total compensation of $7.5 million in fiscal year 2025. This includes base salary of $978,500.
Fred Thiel's base salary at MARA Holdings, Inc. is $978,500 per year as of fiscal year 2025. However, total compensation including stock awards, bonuses, and other benefits is $7.5 million.
MARA Holdings, Inc.'s CEO, Fred Thiel, earned $7.5 million in total compensation for fiscal year 2025.