Better Home & Finance Holding Co
For the period ended Dec 31, 2024. Filed Apr 30, 2025.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Dec 31, 2024 · Filed Apr 30, 2025
Contents
Summary Compensation Table
The following table (the "Summary Compensation Table") sets forth summary information concerning the compensation of our NEOs for each of the Company's last two completed fiscal years. Stock award figures and stock price figures shown in the Summary Compensation Table footnotes and accompanying narrative that follows below have been adjusted to reflect the Reverse Stock Split.
| Name and Principal Position | Year | Salary($) | Bonus(1) ($) | StockAwards(2)(3)($) | OptionAwards(2)($) | All OtherCompensation($)(4) | Total ($) |
|---|---|---|---|---|---|---|---|
| Vishal Garg Chief Executive Officer | 2024 | 750,000 | — | — | — | 810 | 750,810 |
| 2023 | 750,000 | 4,850,000 | — | — | 810 | 5,600,810 | |
| Kevin Ryan Chief Financial Officer | 2024 | 1,000,000 | 500,000 | — | — | 1,242 | 1,501,242 |
| 2023 | 1,000,000 | 8,475,000 | 109,942 | — | 4,321,721 | 13,906,663 | |
| Paula TuffinChief Compliance Officer & General Counsel | 2024 | 750,000 | 375,000 | — | — | 810 | 1,125,810 |
(1)The amounts in this column for 2024 include annual bonuses earned by each of our NEOs. The amounts in this column for 2023 include Transaction Bonuses (as defined below) paid in the following amounts in 2023: (a) to Mr. Garg, $4,850,000 and (b) to Mr. Ryan, $1,475,000. For more information see "Narrative to Summary Compensation Table—Elements of Compensation—Transaction Bonuses" below. In the case of Mr. Ryan, the amount reported in this column for 2023 also is comprised of the $6,000,000 retention award granted to Mr. Ryan on August 18, 2022, in recognition of his continued service to Pre-Business Combination Better, which was forgiven upon the Closing of the Business Combination in 2023, pursuant to the terms of the retention agreement. For more information see"Narrative to Summary Compensation Table—Elements of Compensation—Pre-Business Combination Retention and Employee Loan Programs" below. The amount in this column for 2023 for Mr. Ryan has been revised to include the second installment of his 2023 annual bonus, which was earned based on 2023 performance and was paid in 2024, but was not included in prior disclosure.
(2)The amounts in this column represent the aggregate grant date fair value of awards computed in accordance with FASB Accounting Standards Codification Topic 718. Assumptions used in the calculation of these amounts are described in “Better Home & Finance Holding Company and Subsidiaries Consolidated Financial Statements—Notes to Consolidated Financial Statements—Note 24. Stock-Based Compensation” in our 2024 Annual Report. None of our NEOs received equity awards in 2024.
| 16 | Better Home & Finance Holding Company 2025 Proxy Statement |
(3)The amount disclosed in this column for 2023 is comprised of 1,971 RSUs granted to Mr. Ryan by Pre-Business Combination Better on March 11, 2023, which reflects the amount of RSUs granted as adjusted by the Exchange Ratio in connection with the Business Combination, as described below under the heading“Narrative to Summary Compensation Table—Elements of Compensation—Equity Compensation.”
(4)The amounts disclosed in this column for 2024 include life insurance premiums. The amounts disclosed in this column for 2023 include (a) tax reimbursement in the aggregate amount of $3,894,009 in respect of the forgiveness of the retention award and $393,032 in respect of Mr. Ryan’s transfer of the pledged shares to Pre-Business Combination Better in exchange for termination of his loan under Pre-Business Combination Better’s Employee Loan Program, (b) perquisites and other personal benefits and property in the aggregate amount of $33,438 and (c) payment of life insurance premiums in the amount of $1,242. For more information see“Narrative to Summary Compensation Table—Elements of Compensation—Pre-Business Combination Retention and Employee Loan Programs” below.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.