Cipher Digital Executive Compensation (FY25)
CIFR · Executive and director compensation, fiscal 2025 only
The Cipher Digital brief, $1,500
Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $1,200 for the board report; $2,400 for both.
Data as of September 7, 2026Latest filing (8-K): June 8, 2026
3 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
$1,500Get the executive brief
133 figures on this page: 131 cited to the filing that reported them, 2 calculated from figures it prints. See the citations
Frequently asked questions
Answers drawn from the data on this page.
Who is Cipher Digital's chief executive and what were they paid?
Rodney Tyler Page, Chief Executive Officer, received $14,968,623 in total compensation for fiscal 2025.
What was Cipher Digital's say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 83.5% of votes cast for or against in favor at the meeting held June 2, 2026.
Which companies are in Cipher Digital's peer group?
Companies named in the disclosed peer group include A10 Networks, Inc., Alkami Technology, Inc., Applied Digital Corporation, Bit Digital, Inc. and Bitfarms Ltd., among others.
What is Cipher Digital's chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 24.6:1, against median employee compensation of $608,805.
Executive compensation
Every element reported for each named executive officer, by fiscal year.
Fiscal 2025
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Edward Farrell Former Chief Financial Officer Departed during or after this year | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Rodney Tyler Page Chief Executive Officer | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Gregory Mumford Chief Financial Officer | ◇ | ◇ | ◇ | — | — | — | — | ◇ |
Patrick Kelly Co-President and Chief Operating Officer | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
William Iwaschuk Co-President, Chief Legal Officer and Corporate Secretary | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.
Equity awards granted
Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
| Officer | Award | Grant date | Threshold units | Target units | Units granted | Maximum units | Exercise price | Grant date fair value |
|---|---|---|---|---|---|---|---|---|
| Edward Farrell | OTHER | ◇ | — | — | — | — | — | ◇ |
| Edward Farrell | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Gregory Mumford | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Patrick Kelly | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Patrick Kelly | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Rodney Tyler Page | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Rodney Tyler Page | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| William Iwaschuk | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| William Iwaschuk | RSU | ◇ | — | — | ◇ | — | — | ◇ |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.
Outstanding awards
Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
| Officer | Award | Unvested units | Market value of unvested units | Exercise price | Expires |
|---|---|---|---|---|---|
| Patrick Kelly | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| William Iwaschuk | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| Edward Farrell | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| Gregory Mumford | RSU | ◇ | ◇ | — | — |
| Rodney Page | PSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director compensation
What each non-employee director was paid.
Fiscal 2025
| Director | Fees earned in cash | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|
James Newsome Board chair · Lead independent director | ◇ | ◇ | — | — | — | — | ◇ |
Robert Flatley | ◇ | ◇ | — | — | — | — | ◇ |
Cary Grossman | ◇ | ◇ | — | — | — | ◇ | ◇ |
Caitlin Long | ◇ | ◇ | — | — | — | — | ◇ |
Wesley Williams | ◇ | ◇ | — | — | — | ◇ | ◇ |
Holly Morrow Evans | ◇ | ◇ | — | — | — | — | ◇ |
Robert Dykes | ◇ | — | — | — | — | — | ◇ |
Thomas Duda and Tyler Page served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director fee schedule
The standing retainers and premiums the board pays, as published.
| Board cash retainer | ◇ |
| Board equity retainer | ◇ |
| Total board retainer | ◇ |
| Lead independent director premium | ◇ |
| Audit committee member | ◇ |
| Compensation committee member | ◇ |
| Nominating and governance chair | ◇ |
| Nominating and governance member | ◇ |
Disclosed peer group
The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
- A10 Networks, Inc. ATEN
- Alkami Technology, Inc. ALKT
- Applied Digital Corporation APLD
- Bit Digital, Inc. BTBT
- Bitfarms Ltd. symbol not shown
- C3.ai, Inc. AI
- CleanSpark, Inc. CLSK
- Core Scientific, Inc. CORZ
- Couchbase, Inc. BASE
- Hive Digital Technologies Ltd. HIVE
- Hut 8 Corp. HUT
- IREN Limited IREN
- Marathon Digital Holdings, Inc. symbol not shown
- Marqeta, Inc. MQ
- Repay Holdings Corporation RPAY
- Riot Platforms, Inc. RIOT
- SoundHound AI, Inc. SOUN
- TeraWulf Inc. WULF
Say-on-pay history
Shareholder support for the compensation program, by year.
| Year | Meeting | Support | Votes for | Votes against | Abstentions |
|---|---|---|---|---|---|
| 2025 | June 2, 2026 | = | ◇ | ◇ | ◇ |
| 2024 | June 3, 2025 | = | ◇ | ◇ | ◇ |
Chief executive pay ratio
As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
What this page does not include
Everything above is a fact Cipher Digital disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Cipher Digital sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion IntelligenceAdviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
Inquire about accessMultiple companies at once
Cross-company views, cohort screens, and data export across the industries we cover. This page is one company; the platform is all of them.
Velarion IntelligenceCitations
Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
133 figures on this page: 131 cited to the filing that reported them, 2 calculated from figures it prints.
131 cited to the filing
2 calculated from the filing
Documents cited
- 0001819989-26-000032Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001819989-26-000016Director Compensation · Grants of Plan Based Awards · Outstanding Equity Awards at Fiscal Year-End · Pay Ratio Disclosure · and 1 more section
- 0001819989-25-000054Item 5.07 Submission of Matters to a Vote of Security Holders
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Cipher Digital executive compensation, FY2025.” https://intel.velarion.ai/comp/CIFR (accessed 2026).
Short form: data: Velarion
The Cipher Digital brief, $1,500
Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $1,200 for the board report; $2,400 for both.
3 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
Embed this data
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Peers Cipher Digital discloses
The companies named in CIFR's own disclosed peer group.
Terms on this page
Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
author = {{Velarion Company Intelligence}},
title = {Velarion database: executive and board compensation data},
year = {2026},
version = {2026Q3},
doi = {10.5281/zenodo.22283854},
publisher = {Zenodo},
url = {https://doi.org/10.5281/zenodo.22283854}
}