Shiv Verma
Robinhood MarketsAbout Shiv Verma
Shiv Verma is Senior Vice President of Finance & Strategy and Treasurer at Robinhood Markets, responsible for Finance, Treasury, Corporate Strategy, and Corporate Development; he has been named to become CFO when the current CFO transitions to an advisory role in Q1 2026, subject to Board appointment . He joined Robinhood in 2018 after roles at Oportun, PIMCO, Franklin Templeton, Symphony Asset Management, JPMorgan, and the Oakland A’s; he holds a B.A. in Economics from Stanford and an MBA from UCLA Anderson . Company performance context under his finance/strategy remit: 2024 total net revenues rose to $2.95B from $1.87B in 2023 ; Q3 2025 revenue grew 100% YoY to $1.27B with net income up 271% YoY to $556M and diluted EPS up 259% YoY to $0.61 .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Robinhood Markets | SVP, Finance & Strategy; Treasurer | 2018–present | Leads Finance, Treasury, Corporate Strategy, and Corporate Development |
| Oportun | Capital Markets & Treasury | 2017–2018 | Capital markets and treasury functions |
| PIMCO | VP, Portfolio Manager | 2013–2017 | Fixed income portfolio management |
| Franklin Templeton | HY Credit Research Analyst | 2012 | High yield credit research |
| Symphony Asset Management | Associate Analyst | 2008–2011 | Credit/structured finance analysis |
| JPMorgan | Analyst | 2007–2008 | Investment banking/finance analyst |
| Oakland Athletics | Baseball Operations Analyst | 2007 | Analytics in baseball operations |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| — | — | — | No public company directorships disclosed on Robinhood’s leadership/management pages |
Fixed Compensation
- Specific salary, target bonus %, and cash compensation for Shiv Verma are not disclosed in the 2025 DEF 14A, and his CFO compensation terms were not provided in the Nov 5, 2025 8‑K announcing the transition .
Performance Compensation
2024 annual executive incentive framework (company program) – metrics, weighting, and payout
| Metric | Weight | Targeting/definition | 2024 payout vs target |
|---|---|---|---|
| Total Net Revenues | 30% | Company net revenues | 200% |
| Adjusted Net Income | 30% | Net income excluding significant legal/tax settlements (non‑GAAP per proxy appendix) | 200% |
| Net Deposits | 20% | Company-defined Net Deposits | 200% |
| Gold Subscriber Growth | 20% | Growth in Robinhood Gold subscribers | 128% |
| Approved company performance multiplier | — | Weighted result across metrics | 185.5% |
Notes:
- In 2024, the People & Compensation Committee changed plan measures from total net revenues and adjusted EBITDA (equal weight) to the above mix; this framework applied to NEOs and reflects broader executive performance focus on growth and profitability . Time‑based RSUs were the primary long‑term incentive for non‑CEO NEOs, vesting quarterly over four years, underscoring retention and stockholder alignment; this is the prevailing executive equity design at Robinhood .
Equity Ownership & Alignment
- Stock ownership guidelines: Executives must hold specified amounts of Robinhood stock or qualifying equity; compliance measured annually on 20‑day average price; stock options and unearned performance equity do not count. Each executive has five years from becoming an executive officer or the IPO to comply .
- Anti‑hedging/anti‑pledging: Company policy prohibits covered persons (including officers) from hedging or pledging Robinhood securities, buying on margin, or holding in margin accounts; Rule 10b5‑1 plans must comply with law .
- Clawbacks: Nasdaq‑compliant clawback policy for erroneously awarded incentive compensation upon accounting restatements; separate policy allows recovery for certain detrimental conduct causing inflated performance or material harm .
- No 280G tax gross‑ups: Under the CIC & Severance Plan, participants do not receive 280G excise tax gross‑ups; payments are cut back if more favorable after‑tax .
- Individual ownership: Shiv Verma was not a 2024 NEO, and his individual beneficial ownership is not reported in the proxy’s NEO compensation tables; executive officer ownership guidelines are company policy as noted above .
Employment Terms
Robinhood’s Change in Control (CIC) & Severance Plan coverage extends to executive officers and employees at VP level and above (includes Shiv’s level). Key economics:
| Scenario | Cash severance | Bonus | Equity vesting | COBRA premium payment |
|---|---|---|---|---|
| Involuntary Termination (non‑CIC) – Other executive officers | 12 months’ base salary | 50% of target, prorated; plus 50% of prior year target if termination before prior bonus payment date | Time‑based equity accelerated equal to 9 months’ vesting if ≥24 months service; 6 months if <24 months; performance awards excluded | 12 months (after‑tax) |
| Involuntary Termination within CIC period (3 months pre‑ to 18 months post‑CIC) – Other executive officers | 18 months’ base salary | Target bonus + 50% of target prorated + additional 50% of prior year target if applicable | Full acceleration of outstanding equity awards, excluding performance‑based awards | 18 months (after‑tax) |
| Plan features/policies | — | — | No single‑trigger cash/acceleration for awards granted 2021 or later; double‑trigger design; plan can be amended pre‑CIC; no post‑CIC amendments adverse to participants |
These terms provide meaningful retention and protection through double‑trigger vesting and extended cash coverage, reducing transition risk around strategic events .
Performance & Track Record
Company operating performance context
| Metric | 2023 | 2024 | Source |
|---|---|---|---|
| Total Net Revenues ($B) | 1.87 | 2.95 | |
| Funded Customers (M) | 23.4 | 25.2 | |
| Assets Under Custody ($B) | 103 | 193 |
Recent quarter (YoY)
| Metric | Q3 2024 | Q3 2025 | YoY change |
|---|---|---|---|
| Total Net Revenues ($B) | 0.637 | 1.274 | +100% |
| Net Income ($M) | 150 | 556 | +271% |
| Diluted EPS ($) | 0.17 | 0.61 | +259% |
| Adjusted EBITDA ($M) | 268 | 742 | +177% |
Notes:
- The Nov 5, 2025 8‑K also disclosed record net deposits and growth in Gold subscribers, and announced Shiv Verma as incoming CFO, underscoring continuity within the finance leadership bench .
Compensation Committee & Say‑on‑Pay
- Compensation peer group updated for 2024 to include fintech/consumer tech/brokerage comparables; used for benchmarking executive pay .
- Say‑on‑Pay: 98% approval for fiscal 2023 NEO compensation at the 2024 annual meeting; committee retained independent consultant Pay Governance .
- Plan governance includes robust clawbacks, stock ownership policies, and a prohibition on single‑trigger CIC benefits for awards granted in 2021 or later .
Vesting Schedules and Insider Selling Pressure
- Executive equity design: non‑CEO executive awards in 2024 were predominantly time‑based RSUs vesting quarterly over four years, a structure that smooths potential supply from insider vesting over time and supports retention; performance awards are not prevalent in the latest cycle for non‑CEO NEOs .
- Pledging/hedging prohibited for insiders, reducing leverage‑related selling risks .
- No Form 4 activity for Shiv Verma was disclosed in the cited filings; specific insider trading activity was not included in the 8‑K or 2025 proxy.
Investment Implications
- Succession stability: Elevation of a long‑time finance/strategy leader to CFO suggests continuity in capital allocation, risk, and growth priorities across brokerage, crypto, and new business lines; this can reduce execution risk around budgeting, M&A, and cross‑sell initiatives .
- Pay alignment: Double‑trigger CIC protections, clawbacks, strict anti‑pledging rules, and stock ownership guidelines align executive incentives with shareholders and mitigate governance red flags (no CIC tax gross‑ups; no single‑trigger for 2021+ awards) .
- Performance linkage: Company’s incentive plan emphasizes revenue, profitability (adjusted net income), net deposits, and subscriber growth—key levers for valuation and cash generation—indicating continued focus on both growth and earnings quality under finance leadership .
- Data gaps: Individual compensation and ownership for Shiv Verma are not disclosed in the 2025 proxy and no separate CFO compensation 8‑K terms were filed as of Nov 5, 2025; monitor subsequent 8‑Ks for CFO employment terms, equity grants, and any 10b5‑1 adoption that could signal future selling cadence .