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Upstart Holdings Executive Compensation (FY25)

UPST · Executive and director compensation, fiscal 2023 to 2025
Data as of September 7, 2026Latest filing (8-K): May 28, 2026
182 figures on this page: 178 cited to the filing that reported them, 4 calculated from figures it prints. See the citations
Total compensation for Dave Girouard, Co-founder and Chief Executive Officer, came to $9,670,835 in fiscal 2025, and Girouard's total was 36.0% higher than the $7,113,468 reported for fiscal 2024. The company reported a chief executive pay ratio of 34:1 for fiscal 2025, against median employee compensation of $284,342. The say-on-pay proposal drew 93.8% of votes cast including abstentions in favor at the meeting held May 28, 2026 for fiscal 2025. Companies named in the disclosed peer group include ACI Worldwide, Affirm Holdings, Alkami Technology, C3.ai and Elastic N.V., among others.
Chief executive, fiscal 2025
◇
Dave Girouard
Latest say-on-pay support
=
May 28, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Dave Girouard: $7,113,468 → $9,670,835 (36.0% higher)
Say-on-pay support: 73.5% → 93.8% (20.3 points higher)
CEO pay ratio: 25:1 → 34:1 (36.0% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Upstart Holdings' chief executive and what were they paid?
Total compensation for Dave Girouard, Co-founder and Chief Executive Officer, came to $9,670,835 in fiscal 2025. Girouard's total was 36.0% higher than the $7,113,468 reported for fiscal 2024.
What was Upstart Holdings' say-on-pay result?
The say-on-pay proposal drew 93.8% of votes cast including abstentions in favor at the meeting held May 28, 2026 for fiscal 2025.
Which companies are in Upstart Holdings' peer group?
Companies named in the disclosed peer group include ACI Worldwide, Affirm Holdings, Alkami Technology, C3.ai and Elastic N.V., among others.
What is Upstart Holdings' chief executive pay ratio?
The company reported a chief executive pay ratio of 34:1 for fiscal 2025, against median employee compensation of $284,342.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Dave Girouard
Chief Executive Officer, Chairperson of the Board
◇——◇◇——◇
Sanjay Datta
Chief Financial Officer
◇—◇◇◇—◇◇
Paul Gu
Chief Technology Officer, Director
◇—◇◇◇—◇◇
Scott Darling
Chief Legal Officer and Corporate Secretary
◇◇——◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Dave Girouard
Chief Executive Officer, Chairperson of the Board
◇——◇◇——◇
Paul Gu
Chief Technology Officer, Director
◇—◇◇◇—◇◇
Sanjay Datta
Chief Financial Officer
◇—◇◇◇—◇◇
Scott Darling
Chief Legal Officer and Corporate Secretary
◇—◇◇◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Dave Girouard
Co-founder and Chief Executive Officer
◇——◇◇——◇
Paul Gu
Co-founder and Chief Technology Officer
◇—◇◇◇—◇◇
Sanjay Datta
Chief Financial Officer
◇—◇◇◇—◇◇
Scott Darling
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
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Dave GirouardOPTION◇——◇—◇◇
Paul GuOPTION◇——◇—◇◇
Paul GuRSU◇——◇——◇
Sanjay DattaRSU◇——◇——◇
Sanjay DattaOPTION◇——◇—◇◇
Scott DarlingOPTION◇——◇—◇◇
Scott DarlingRSU◇——◇——◇
Fiscal 2023, 2024 are included in the PDF.
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
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Sanjay DattaOption◇—◇02/27/2035
Option◇—◇02/28/2034
RSU◇◇——
Option◇—◇03/17/2033
RSU◇◇——
RSU◇◇——
Paul GuOption◇—◇03/17/2033
Option◇—◇02/27/2035
RSU◇◇——
RSU◇◇——
Option◇—◇02/28/2034
RSU◇◇——
Scott DarlingOption◇—◇2/27/2035
RSU◇◇——
RSU◇◇——
Option◇—◇2/28/2034
RSU◇◇——
Option◇—◇12/31/2032
Dave GirouardOption◇—◇3/17/2033
Option◇—◇2/28/2034
Option◇—◇2/27/2035
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
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Peter Bernard
◇◇————◇
Kerry W. Cooper
Lead independent director
◇◇————◇
Ciaran O Kelly
◇◇————◇
Mary Hentges
◇◇————◇
Jeff Huber
◇◇————◇
Hilliard C. Terry, III
◇◇————◇
Sukhinder Singh Cassidy
◇—————◇
Dave Girouard and Paul Gu 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.
Earlier years are included in the PDF.
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◇
Board chair premium◇
Lead independent director premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇
Equity is delivered as restricted stock units.
Stock ownership guideline: 3x base annual cash retainer

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • ACI Worldwide ACIW
  • Affirm Holdings AFRM
  • Alkami Technology ALKT
  • C3.ai AI
  • Elastic N.V. ESTC
  • Flywire FLYW
  • Intapp INTA
  • LendingClub LC
  • Marqeta MQ
  • MeridianLink MLNK
  • nCino NCNO
  • PagerDuty PD
  • Paymentus Holdings PAY
  • Payoneer Global PAYO
  • PROG Holdings PRG
  • Q2 Holdings QTWO
  • Rapid7 RPD
  • Shift4 Payments FOUR
  • Smartsheet SMAR
  • SoFi Technologies SOFI
  • SPS Commerce SPSC
  • Taboola Software TBLA

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 28, 2026=◇◇◇
2024May 23, 2025=◇◇◇
2023May 29, 2024=◇◇◇
2022May 24, 2023=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact Upstart Holdings disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Upstart Holdings 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 — $1,500
Written 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 — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable 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 Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
182 figures on this page: 178 cited to the filing that reported them, 4 calculated from figures it prints.
178 cited to the filing
4 calculated from the filing

Documents cited

  1. 0001647639-26-000050
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001193125-26-158972
    2025 Grants of Plan-Based Awards · 2025 Summary Compensation Table · Non-Employee Director Compensation · Non-Employee Director Compensation Table · and 1 more section
  3. 0001647639-25-000053
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001193125-25-073432
    2024 Summary Compensation Table
  5. 0001647639-24-000026
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001193125-24-088481
    2023 Summary Compensation Table
  7. 0001647639-23-000040
    Item 5.07 Submission of Matters to a Vote of Security Holders
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Velarion, “Upstart Holdings executive compensation, FY2023–FY2025.” https://intel.velarion.ai/comp/UPST (accessed 2026).
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Specialty Finance rankings

Chief executive pay — Specialty FinanceCEO pay ratio — Specialty FinanceSay-on-pay support — Specialty Finance

Peers Upstart Holdings discloses

The companies named in UPST's own disclosed peer group.

ACI WorldwideAffirm HoldingsC3.aiElastic N.V.FlywireIntappMarqetanCinoPagerDutyPaymentus HoldingsPayoneer GlobalQ2 HoldingsShift4 PaymentsSoFi TechnologiesSPS Commerce

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
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}
}
For informational purposes only. Not investment, legal, or compensation advice.  The Pay Desk · Methodology · Terms · Privacy