Company: CTLPP
Filing Date: 2025-09-08
Form Type: 10-K
Source: 0001628280-25-041775
Chunk: 31

Company: CANTALOUPE, INC.
Filing Date: 2025-09-08
Form: 10-K
Item: Item 11
Chunk 31
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 best attract and retain key talent by providing attractive “upside” growth opportunity if our leadership succeeds in improving our Company’s past performance, which is directly aligned with our shareholder interests. For further information on our equity award program for our NEOs, please see the below discussion under “-Equity Awards.”

Compensation Process

Roles and Responsibilities

Compensation Committee: The Compensation Committee is responsible for annually reviewing and recommending to the Board for approval the corporate goals and objectives relevant to the compensation of the executive officers of the Company, evaluating the executive officers’ performance in light of those goals and objectives, and recommending for approval to the Board the executive officers’ compensation levels based on this evaluation.

Chief Executive Officer: From time to time, the Compensation Committee may seek input and recommendations from the Chief Executive Officer regarding the compensation of other executive officers; however, the Chief Executive Officer is not present during voting or deliberations on his compensation.

Compensation Consultant: Our Compensation Committee engaged Aon’s Human Capital Solutions practice, a division of Aon PLC (“Aon”), otherwise known as McLagan, as its executive compensation consultant beginning during fiscal year 2022. In this capacity, Aon advised the Compensation Committee on the structure and design of our executive compensation program, including the amount and mix of compensation for fiscal years 2023, 2024, and 2025, on the Company’s comparative peer group, and director compensation.

Market Analysis

Our peer group was selected based on industry relevancy with revenue and market capitalization metrics utilized to ensure appropriate size comparisons. The peer group approved and used by the Compensation Committee during fiscal year 2025 was made up of these 16 companies:

•Atlanticus Holding Corporation

•AvidXchange Holdings, Inc.

•Bakkt Holdings, Inc.

•Cardlytics, Inc.

•Cass Information Systems, Inc.

•CoreCard Corporation

•CPI Card Group, Inc.

•Flywire Corporation

•i3 Verticals, Inc.

•International Money Express, Inc.

•PAR Technology Corporation

•PaySign, Inc.

•Priority Technology Holdings, Inc.

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•Repay Holdings Corporation

•Sezzle, Inc.

•Usio, Inc.

Aon provided the Compensation Committee with comparative analyses based on (1) proxy data from Cantaloupe’s identified peer group and (2) industry data from Aon’s proprietary surveys. Market data is used as a reference point and is only one factor in the Compensation Committee’s overall assessment process. Executive compensation levels at Cant