Robert Reffkin, CEO, Compass
Illustration by Lanette Behiry/Real Estate News

Compass CEO received $7 million bonus in 2023 

Robert Reffkin got a hefty cash bonus and a raise for 2024, but he had to give up a stock plan worth upwards of $25 million.

January 2, 2024
2 minutes

When it comes to compensation for some of the industry's top brokerage leaders, Anywhere's Ryan Schneider wasn't the only CEO to get a multimillion-dollar bonus in 2023. Compass' board has rewarded Robert Reffkin's leadership over the past year with a healthy bonus and a pay bump, an SEC filing reveals. 

How much did Reffkin get? According to documents filed in late December, the Compass board of directors approved a $7 million bonus for Reffkin. But there's a catch: In exchange for the bonus, Reffkin has to relinquish his 17.22 million shares in "previously granted and outstanding performance based RSU [restricted stock unit] awards" — which are valued at roughly $25 million. 

What else was included? Reffkin also received a big pay bump. Starting January 1, Reffkin's annual base salary was set to $900,000. According to The Real Deal, this new figure is more than twice Reffkin's $400,000 base salary from 2022. 

Does he still get stock? While it appears the Compass board opted to sunset Reffkin's previous RSU bonus structure worth potentially $25 million or more, his new compensation package still includes company stock. Reffkin was granted $2.25 million worth of RSUs each year for the next four years.

Is Reffkin coming out ahead — or behind? Trading a $25 million stock package for a $7 million bonus and salary increase might not seem like a great deal for Reffkin, but the Compass board noted in the SEC filing that this move was made with the "objective of providing market-based CEO compensation."

Additionally, Compass' share price has been on a downward trend since going public in April 2021. The stock price hit an all-time low in 2023, dipping below $2 per share in November, though Compass ended the year with its shares trading 60% higher compared to a year prior.

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