Gal Krubiner

Chief Executive Officer at Pagaya Technologies

Board

Since 2016

Age

36 years

Education

Earned a B.A. in Applied Science, Economics & Statistics from Tel-Aviv University.

Tenure

Joined PGY in 2016 as a co-founder and has served as the Chief Executive Officer and director since then.

Also at Pagaya Technologies

Avital Pardo

Chief Technology Officer

Yahav Yulzari

Chief Business Officer

Cory Vieira

Chief Accounting Officer

About

Gal Krubiner is a seasoned financial professional who has built a distinguished career in the investments and wealth management industry. At 36 years old , he has demonstrated a strong commitment to innovation and leadership over the years.

Graduated with a Bachelor of Arts in Applied Science, Economics & Statistics from Tel-Aviv University , he has combined academic excellence with practical expertise in the financial sector. His educational background laid the foundation for a career focused on advanced credit structured products.

Since co-founding PGY in 2016, he has served as both Chief Executive Officer and a director, steering the company towards growth and innovation. Before his tenure at PGY, he gained invaluable experience at UBS AG from 2012 to 2016, reinforcing his deep industry knowledge and further qualifying him as a leader in the field.

$PGY Performance Under Gal Krubiner

Past Roles

Organization	Role	Date Range	Details
UBS AG	Focused on structuring and distributing sophisticated credit and asset-backed securities products	2012–2016	Specialized in innovative structured credit products
Various Companies	Held roles in investment, entrepreneurship, and financial markets	N/A	Specific details not provided

Fixed Compensation

Data from FY 2024

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$1,000,000	Annual	Waived 10% increase for 2023, 2024, and 2025
Outstanding Options (582,680 @ $0.44)	582,680 options	As vest over time: 1/4 on May 21, 2021 and 1/16 every three months thereafter	Exercise price: $0.44 per share; Expires August 11, 2030
Housing Expenses	$378,000	Annual	Provided as housing accommodations included in All Other Compensation
Ground Transportation	$112,000	Annual	Provided for ground transportation expenses in 2024
Reimbursement of Personal Expenses	$105,000	Annual	Annual allowance as agreed in the employment contract
Administrative Support	$86,000	Annual	Provided for administrative support in 2024
Sporting Event Admission	N/A	N/A	Not specified
Storage Costs	N/A	N/A	Not specified
Severance (Base Salary Continuation)	$1,000,000 (12 months)	Upon termination (without Cause or for Good Reason)	Plus pro-rated annual bonus and COBRA premium payments for 12 months
Change in Control Provisions	$1,500,000 (18 months)	Lump sum upon Change in Control	Includes full annual bonus and COBRA premium payments; equity acceleration applies
Executive Assistants Usage	N/A	N/A	Not separately itemized
Housing Accommodations and Tax Gross-Ups	N/A	N/A	Terms not disclosed

Performance Compensation

Data from FY 2024

Annual Cash Incentive Bonus

Metric	Target	Weight
Revenue	$925 million	35%
Adjusted EBITDA	$150 million	30%
FRLPC (Fee Revenue Less Production Costs)	$275 million	35%

Performance Multipliers: 0%, 75%, 100%, 150%, 200%, 300%
Evaluation Period: 2024
Actual Bonus Paid: $2,500,000 (paid in 2025 based on 2024 performance)
Additional factors include a discretionary evaluation by the Board and the CEO

Performance-Based Outstanding Options (5,493,530 options @ $18.96)

Exercise Price: $18.96
Vesting Schedule:
- 50% of the options vested on June 22, 2022
- 33.33% vested on August 21, 2022
- Remainder vest upon meeting the remaining performance goal as specified in the option agreement
Additional Details: Specific performance metrics, thresholds, targets, vesting conditions, grant date, grant date fair value, and grant date stock price were not provided