CFO Long-Term Incentive Plan Eligibility
Company: Marathon Digital
What the later record shows
Delivered; the record does not say when
The 2025 proxy shows Khan received long-term incentive RSU awards (975,073 RSUs valued at $6.65M against a $475,000 salary) and 2024 LTIP PSU awards. The grant date relative to his first anniversary is not stated, and the award size differs from the 300% target described.
“the Compensation Committee increased long-term incentive compensation targets and approved RSU awards for eligible award recipients, including our Named Executive Officers, as follows”
2025-04-29 · Marathon Digital DEF 14A filed 2025-04-30 View cached copy (2026-08-31)Live source ↗
“2023 RSU Award (Number of Shares) (1) Mr. Thiel $ 800,000 $ 11,200,000 1,642,229 Mr. Khan $ 475,000 (2) $ 6,650,000 975,073”
2025-04-29 · Marathon Digital DEF 14A filed 2025-04-30 View cached copy (2026-08-31)Live source ↗
Checked October 10, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
Eligible for long-term incentive plan awards after first anniversary, with potential RSU awards equal to 300% of base salary if 100% of targets are met
Source (primary)
Marathon Digital 8-K filed 2023-06-06 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “Mr. Khan shall be eligible for such grants of awards, such as awards commonly known as long term incentive plan awards awarded on or after the first anniversary of the commencement date of employment hereunder... If 100% of any determined targets are met, the Executive would be entitled to a dollar amount in RSUs equal to 300% of the Executive's then applicable Base Salary.”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The filing says he is eligible for long-term incentive plan awards on or after the first anniversary of employment, and that meeting 100% of targets entitles him to RSUs equal to 300% of his base salary.
Confirmed in the source:
- Salman Khan is eligible for long-term incentive plan awards awarded on or after the first anniversary of his employment start date
- If 100% of determined targets are met, he would be entitled to RSUs worth 300% of his then-applicable base salary
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1507605/000149315223020303/form8-k.htm) in full (9,204 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Marathon Digital 8-K filed 2023-06-06
Quote: “Mr. Khan shall be eligible for such grants of awards, such as awards commonly known as long term incentive plan awards awarded on or after the first anniversary of the commencement date of employment hereunder... If 100% of any determined targets are met, the Executive would be entitled to a dollar amount in RSUs equal to 300% of the Executive's then applicable Base Salary.”
confirms Marathon Digital DEF 14A filed 2025-04-30
Quote: “the Compensation Committee increased long-term incentive compensation targets and approved RSU awards for eligible award recipients, including our Named Executive Officers, as follows”