BID TerminalOpen complete report
Research library

Management and incentives

Rocket Companies, Inc. RKT

Three-pass checkedFresh as companies report

Rocket paid chief executive Varun Krishna $52.9M for 2025, a year the company reported a net loss of $234M, and the largest piece of his new stock award starts paying at 80 cents on the dollar once cost cuts reach $432M. Both money bars in his cash bonus missed, and a subjective scorecard informed by his own assessment came in at 180% and carried the payout to 115% of target.

Key data

Plan periodFiscal 2025, the year Redfin and Mr. Cooper were bought
CEOVarun Krishna, in the seat since September 2023
2025 pay as disclosed$52.9M: $1.3M salary, $4.0M cash bonus, $47.0M of stock
Cash bonus weightsAdjusted Revenue 33%, Adjusted EBITDA 33%, subjective scorecard 33%
Cash bonus range0% to 200% of target. Paid 115%
Equity weightsAnnual grant $22.0M, half time-vesting and half performance. Integration grant $25.0M, all performance
Equity payout range0% to 200%, except cost synergies, which runs 0% to 110%
Latest paceFirst half 2026 adjusted EBITDA $1.5B, already above the $1.3B that earned the whole 2025 bonus
Price against the planThe three-year share-return window opened at a $16.23 average and sits at $13.96, a negative absolute return that holds half the annual performance grant to target
Board bar against the street2025 bars of $7.2B revenue and $1.6B profit against analyst marks near $6.3B and $1.1B
Filing anchorDEF 14A filed Apr 29, 2026; 10-K filed Mar 2, 2026; 10-Q filed Aug 7, 2026
RKT · one year · last $12.29 · range $12.29 to $23.44

Inside the complete Management and incentives

  1. 01What the plan pays him for
  2. 02What the record shows
  3. 03What he does next
  4. 04Closing thoughts
  5. 05Methodology

Continue with RKT

Get the complete Management and incentives free.

Choose this as your free complete report. No card required.

Read the complete report

More company research

View all research
Rocket Companies, Inc. RKTThe bet you're really making is that Rocket stays the first place Americans go to get a home loan, and now holds onto that customer long after the loan closes. You're betting that after buying Mr. Cooper, the largest company that collects people's monthly mortgage payments, and Redfin, the website people use to shop for houses, Rocket can walk one customer from the home search to the loan to the monthly bill and back again when they refinance. Right now it is going well, with one thing to watch: it earned $230 million last quarter, its third profitable quarter in a row, while the money coming in slipped a little and the price it gets on each new loan keeps getting squeezed. You pay about 90 times last year's earnings and roughly 22 times what it is on track to earn this year, a full price for a home lender, at a moment when high interest rates have shrunk how many people buy or refinance a home. Company report Rocket Companies, Inc. RKTRocket originated $49.6B of mortgages in the June quarter, up 71% from the same quarter a year earlier. Competitive advantage Adobe Inc. ADBEAdobe paid Shantanu Narayen $51.2 million for fiscal 2025, and over 90% of his target package was equity graded on two things: the new subscription dollars Adobe adds each year, and whether the stock beats the Nasdaq 100 over three calendar years. The stock half paid 41% and then 45% in the two most recent closed cycles and all three open windows sit underwater, so the pay now rides on the subscription number alone, which points to price increases, paid AI tiers and free-to-paid conversion rather than deals, because the plan strips acquisitions out. Management and incentives Coinbase Global, Inc. COINCoinbase paid Brian Armstrong $9,713,000 for 2025, and $8,713,000 of that was personal security and private aircraft rather than anything tied to results. His only live performance award is a 2020 option on 9,293,911 shares struck at $23.46, and it pays nothing further unless the share price holds at or above $320 for 60 consecutive sessions, then $360, then $400, before the option expires on August 10, 2030. Management and incentives