Company: CTLPP
Filing Date: 2025-09-08
Form Type: 10-K
Source: 0001628280-25-041775
Chunk: 32

Company: CANTALOUPE, INC.
Filing Date: 2025-09-08
Form: 10-K
Item: Item 11
Chunk 32
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aloupe are not directly tied to any specific “benchmark” or other comparative market level. While Aon reports to the Compensation Committee, it also works with the Company’s Human Resources department and senior management to facilitate Compensation Committee work. Representatives of Aon attended and presented its study results, by video conference, to a meeting of the Compensation Committee.

The Compensation Committee considered factors relevant to Aon’s independence under SEC and Nasdaq rules and has determined that Aon is independent under these factors.

Fiscal Year 2025 Executive Compensation

The summary below represents the Company’s 2025 executive compensation overview.

Base Salary

NEOFiscal 2024Beginning-of-YearAnnual Base SalaryFiscal 2025 End-of-Year Annual Base Salary% IncreaseMr. Venkatesan$450,000$450,000—%Mr. Stewart$400,000$416,0004%Mr. Dumbrell$400,000$416,0004%Mr. Singal$362,250$373,1153%Ms. Novoseletsky$325,000$350,0008%

Base salary is the fixed component of our NEOs’ annual cash compensation and is set with the goal of attracting and retaining talented executives and adequately compensating and rewarding them for services rendered during the fiscal year. The Compensation Committee reviews our NEOs’ base salaries on an annual basis. Base salaries are intended to reflect an individual’s level of responsibility and performance; however, the Compensation Committee also considers changes in duties and responsibilities, our business and financial results, and its knowledge of market practices in setting and adjusting base salaries.

Annual Bonus

Performance-based annual cash bonuses based on achievement of pre-established performance goals provide NEOs with an opportunity to receive additional cash compensation based on their performance and Company results, including the achievement of pre-determined Company and/or individual performance goals. Although the Compensation Committee intends that our annual bonus program should primarily rely on pre-established performance metrics and goals, the Compensation Committee also retains flexibility to include discretionary elements in our program so that the program may be adapted to adequately suit its retentive purpose and reflect performance that may not be adequately captured in pre-established, objective metrics.

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Annual bonuses for fiscal year 2025 were awarded based on the achievement of predetermined corporate goals and the Board of Directors discretionary evaluation (discretion made up 15% of the predetermined corporate goals). The corporate goals were based on the Company’s Adjusted EBITDA (40%), Revenue (25%), and Monthly Recurring Revenue Growth (20%),