Pagaya Technologies Amends 10-K, Details Executive Compensation and Governance for 2025
Summary
Pagaya Technologies filed an amended 10-K to include detailed 2025 executive compensation, corporate governance, and beneficial ownership information, completing its annual report and revealing future equity grants for its founders.
Key Events
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Completes 2025 Annual Report
The filing provides previously omitted Part III information (Items 10-14) for the fiscal year ended December 31, 2025, including executive compensation, security ownership, and corporate governance details, which were not in the original March 2, 2026 filing.
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Executive Compensation Details
CEO Gal Krubiner's total compensation for 2025 was $6,019,560. Executive bonuses for 2025 were significantly funded (187.5% company modifier) due to strong performance in Total Revenue, GAAP Net Income, and Adjusted EBITDA.
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Future Equity Grants for Founders
After not receiving equity incentives in 2025, the Compensation Committee approved RSU grants for the three founders (Gal Krubiner, Avital Pardo, Yahav Yulzari) in 2026 to align with market practice and retention goals.
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Significant Insider Voting Power
As of March 1, 2026, all directors and executive officers as a group hold 81.9% of the total voting power, primarily through Class B Ordinary Shares, indicating strong insider control.
Analysis
This 10-K/A completes Pagaya Technologies' 2025 Annual Report by providing the previously omitted Part III information, offering critical insights into executive compensation, corporate governance, and beneficial ownership. The filing details significant performance-based bonuses for 2025, reflecting the company's strong financial results, and outlines future equity grants for founders in 2026. Investors gain a comprehensive view of executive incentives and the company's control structure, with founders retaining substantial voting power.
At the time of this filing, PGY was trading at $13.04 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.1B. The 52-week trading range was $10.40 to $44.99. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.