Riot Platforms Management

Management criteria checks 2/4

Riot Platforms' CEO is Jason Les, appointed in Feb 2021, has a tenure of 3.17 years. total yearly compensation is $21.50M, comprised of 3.2% salary and 96.8% bonuses, including company stock and options. directly owns 3.2% of the company’s shares, worth MX$1.65B. The average tenure of the management team and the board of directors is 1.8 years and 6 years respectively.

Key information

Jason Les

Chief executive officer

US$21.5m

Total compensation

CEO salary percentage	3.2%
CEO tenure	3.2yrs
CEO ownership	3.2%
Management average tenure	1.8yrs
Board average tenure	6yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Jason Les's remuneration changed compared to Riot Platforms's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	n/a	n/a	-US$49m
Sep 30 2023	n/a	n/a	-US$289m
Jun 30 2023	n/a	n/a	-US$276m
Mar 31 2023	n/a	n/a	-US$602m
Dec 31 2022	US$22m	US$680k	-US$510m
Sep 30 2022	n/a	n/a	-US$376m
Jun 30 2022	n/a	n/a	-US$359m
Mar 31 2022	n/a	n/a	US$14m
Dec 31 2021	US$22m	US$619k	-US$15m
Sep 30 2021	n/a	n/a	US$15m
Jun 30 2021	n/a	n/a	US$29m
Mar 31 2021	n/a	n/a	-US$867k
Dec 31 2020	US$453k	n/a	-US$14m
Sep 30 2020	n/a	n/a	-US$20m
Jun 30 2020	n/a	n/a	-US$20m
Mar 31 2020	n/a	n/a	-US$11m
Dec 31 2019	US$574k	n/a	-US$20m
Sep 30 2019	n/a	n/a	-US$28m
Jun 30 2019	n/a	n/a	-US$32m
Mar 31 2019	n/a	n/a	-US$55m
Dec 31 2018	US$155k	n/a	-US$58m
Sep 30 2018	n/a	n/a	-US$56m
Jun 30 2018	n/a	n/a	-US$55m
Mar 31 2018	n/a	n/a	-US$32m
Dec 31 2017	US$57k	n/a	-US$16m

Compensation vs Market: Jason's total compensation ($USD21.50M) is above average for companies of similar size in the MX market ($USD1.50M).

Compensation vs Earnings: Jason's compensation has been consistent with company performance over the past year.

CEO

Jason Les (37 yo)

3.2yrs

Tenure

US$21,500,268

Compensation

Mr. Jason Les has been the Chief Executive Officer of Riot Platforms, Inc. (formerly, Riot Blockchain, Inc.) since February 8, 2021 and has been its Executive Director since November 2017 and was its Membe...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Soo Yi	Executive Chairman	5.5yrs	US$21.50m	3.19% $ 1.6b
Jason Les	CEO & Executive Director	3.2yrs	US$21.50m	3.2% $ 1.6b
Colin Yee	Executive VP & CFO	1.6yrs	US$3.82m	0.064% $ 32.9m
William Jackman	Executive VP	2.8yrs	US$5.75m	0.69% $ 356.5m
David Schatz	Senior Vice President of Operations	1.3yrs	no data	no data
Ryan Werner	Senior VP & Chief Accounting Officer	1.6yrs	no data	0.18% $ 94.0m
Maureen Chu	VP of Associate General Counsel	no data	no data	no data
Philip McPherson	VP of Capital Markets & Investor Relations	2.3yrs	no data	no data
Jason Chung	Executive VP and Head of Corporate Development & Strategy	1.8yrs	no data	0.66% $ 338.1m
Emma Norris	Vice President of Human Resources	1.3yrs	no data	no data
Ashton Harris	Head of Technical Operations	3.3yrs	no data	no data
Brian Morgenstern	Head of Public Policy	1.3yrs	no data	no data

1.8yrs

Average Tenure

41yo

Average Age

Experienced Management: RIOT *'s management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Soo Yi	Executive Chairman	5.5yrs	US$21.50m	3.19% $ 1.6b
Jason Les	CEO & Executive Director	6.4yrs	US$21.50m	3.2% $ 1.6b
Lance D'Ambrosio	Independent Director	2.9yrs	US$1.11m	0.018% $ 9.2m
Hubert Marleau	Lead Independent Director	3.4yrs	US$1.11m	0.014% $ 7.3m
Frank Bishop	Member of Advisory Board	6.4yrs	no data	no data
David Flum	Member of the Medical Advisory Board	14.8yrs	no data	no data
David Talan	Member of the Medical Advisory Board	14.8yrs	no data	no data
Douglas Owens	Member of the Medical Advisory Board	14.8yrs	no data	no data
Steven Wolf	Member of The Medical Advisory Board	14.8yrs	no data	no data
Yan Pritzker	Member of Industry Leading Advisory Board	4.8yrs	no data	no data
Hannah Cho	Independent Director	3.2yrs	US$1.11m	0.034% $ 17.3m
Pierre Rochard	Member of Industry Leading Advisory Board	4.8yrs	no data	no data

6.0yrs

Average Tenure

56.5yo

Average Age

Experienced Board: RIOT *'s board of directors are considered experienced (6 years average tenure).

Riot Platforms Management

Management criteria checks 2/4

Key information

Recent management updates

Senior VP & Chief Accounting Officer recently sold Mex$6.5m worth of stock

Independent Director recently sold Mex$4.5m worth of stock

Lead Independent Director recently sold Mex$11m worth of stock

Chief Financial Officer recently sold Mex$9.8m worth of stock

Riot Platforms, Inc. Announces Termination of Chad Everett Harris as Chief Commercial Officer

Insider recently sold Mex$2.0m worth of stock

Recent updates

Senior VP & Chief Accounting Officer recently sold Mex$6.5m worth of stock

Independent Director recently sold Mex$4.5m worth of stock

Forecast to breakeven in 2025

New minor risk - Profitability

Full year 2023 earnings released: US$0.28 loss per share (vs US$3.65 loss in FY 2022)

New major risk - Revenue and earnings growth

Forecast to breakeven in 2025

New minor risk - Profitability

Third quarter 2023 earnings released: US$0.25 loss per share (vs US$0.24 loss in 3Q 2022)

Riot Platforms, Inc. to Report Q3, 2023 Results on Nov 08, 2023

No longer forecast to breakeven

Lead Independent Director recently sold Mex$11m worth of stock

Second quarter 2023 earnings released: US$0.17 loss per share (vs US$2.70 loss in 2Q 2022)

Forecast to breakeven in 2025

Chief Financial Officer recently sold Mex$9.8m worth of stock

First quarter 2023 earnings released: US$0.33 loss per share (vs US$0.30 profit in 1Q 2022)

Full year 2022 earnings released: US$3.65 loss per share (vs US$0.085 loss in FY 2021)

Riot Platforms, Inc. Announces Termination of Chad Everett Harris as Chief Commercial Officer

No longer forecast to breakeven

Insider recently sold Mex$2.0m worth of stock

Executive VP & Chief Commercial Officer recently sold Mex$6.2m worth of stock

Forecast breakeven date pushed back to 2024

Third quarter 2022 earnings released: US$0.24 loss per share (vs US$0.16 loss in 3Q 2021)

Riot Blockchain, Inc. to Report Q3, 2022 Results on Nov 09, 2022

Riot Announces Groundbreaking at 1 GW Data Center Facility in Corsicana, Navarro County, Texas

Riot Blockchain, Inc. Reports Impairment to Goodwill

Riot Blockchain, Inc. announced delayed 10-Q filing

Investor sentiment improved over the past week

Riot Blockchain, Inc. to Report Q2, 2022 Results on Aug 09, 2022

Investor sentiment improved over the past week

Investor sentiment deteriorated over the past week

Riot Blockchain, Inc., Annual General Meeting, Jul 27, 2022

Investor sentiment deteriorated over the past week

Riot Blockchain, Inc. Announces Jason Chung as Head of Corporate Development

Riot Blockchain Announces CFO Transition Plan

High number of new and inexperienced directors

Riot Blockchain, Inc. announced delayed annual 10-K filing

Riot Blockchain, Inc. Hires Ashley Lewis as Director of IT

Riot Blockchain, Inc. Announces Operations Updates

Lead Independent Director recently sold Mex$5.0m worth of stock

Riot Blockchain, Inc. (NasdaqCM:RIOT) acquired Ferrie Franzmann Industries, LLC (ESS Metron) from Steven R. Ferrie and David P. Franzmann for $51.7 million.

Third quarter 2021 earnings released: US$0.16 loss per share (vs US$0.038 loss in 3Q 2020)

High number of new and inexperienced directors

Riot Blockchain Announces Operations Updates

Riot Blockchain, Inc. announced delayed 10-Q filing

Riot Blockchain, Inc.(NasdaqCM:RIOT) dropped from Russell Microcap Growth Index

Key Executive recently sold Mex$31m worth of stock

Mogo Inc. (TSX:MOGO) completed the acquisition of an unknown minority stake in Coinsquare Ltd. from Riot Blockchain, Inc. (NasdaqCM:RIOT) for CAD 16.6 million

Riot Blockchain, Inc. (NasdaqCM:RIOT) completed the acquisition of Whinstone US, LLC from Northern Data AG (DB:NB2).

First quarter 2021 earnings released: EPS US$0.091 (vs US$0.15 loss in 1Q 2020)

Mogo Inc. (TSX:MOGO) entered into a binding term sheet to acquire an unknown minority stake in Coinsquare Ltd. from Riot Blockchain, Inc. (NasdaqCM:RIOT).

Full year 2020 earnings released: US$0.30 loss per share (vs US$1.02 loss in FY 2019)

Riot Blockchain, Inc. Announces an Operations Update on Unaudited Bitcoin Production Update through February 2021 and Updated Miner Acquisition and Delivery Activity

Riot Blockchain, Inc. Announces Deployment of 2,002 S19 Pro Antminers

Riot Blockchain, Inc. Appoints Mr. Jeffrey Mcgonegal as Chief Financial Officer

Riot Blockchain, Inc. Announces Executive Changes

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age