Company: GDOT
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001386278-25-000020
Chunk: 68

Company: GREEN DOT CORP
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 68
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Our 2024 results included:

• GAAP total operating revenues of $1.7 billion

• GAAP net loss of $26.7 million

• Adjusted EBITDA (as defined below) of $165.4 million

While we were encouraged by the progress we made during 2024, these financial results did not meet our financial plan for the year. Consistent with our Compensation Committee’s philosophy of linking payment to performance, company performance resulted in below-target payouts (50.4%) to our executive officers under the short-term incentive plan for 2024, demonstrating that we do not pay performance-based cash incentive awards for unmet goals. Additionally, the PRSUs granted to Mr. Gresham in connection with being hired in 2021 did not vest and expired because our stock price did not reach certain specified levels over the performance period. Our Compensation Committee evaluated these outcomes and determined not to make any one-time equity award grants or pay discretionary bonuses to our executive officers.

In March 2025, we announced commencement of a CEO transition process, pursuant to which George Gresham ceased serving as our President and Chief Executive Officer, and as a member of the Board, and William I Jacobs, our Chairperson of the Board, was appointed to serve as our interim Chief Executive Officer, and Chris Ruppel, our Chief Revenue Officer, was appointed to serve as our interim President. In connection with the foregoing, we agreed to new compensation arrangements with Messrs. Jacobs and Ruppel as further described below.

#### Listening to Stockholders
At our 2024 Annual Meeting of Stockholders, which took place in May 2024, we requested that stockholders cast a non-binding advisory vote on the compensation of our NEOs, also known as a "say-on-pay" vote. This proposal passed with approximately 95% of the votes cast (for or against) voted in favor of our compensation program.

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Following the 2024 say-on-pay vote, we continued to align our compensation with best practices. Our short-term incentive plan and long-term equity incentive program are designed to foster individual accountability. In 2024, we introduced a new management business objective, or MBO, design with an MBO modifier of plus or minus 30% of the financial performance outcome based on achievement of predetermined regulatory metrics. Additionally, we maintained three-year relative total stockholder return, or TSR, and three-year cumulative earnings per share, or EPS,