Sundar PichaiSundar Pichai earned $164M in 2023
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Christopher D. Farrar

Founder and CEO of Velocity Financial

Education

Bachelor of Science in Business Administration from Pepperdine University

Field of Expertise

Finance & Banking - Finance

Born

January 1, 1969 - 56 years ago

Economy Sector

Financial Services

Current Tenure

20 years 8 months (Jun 2004 - Present)

Previous Experience

Co-founded Velocity Financial, Inc. and served as Chief Credit Officer for Worth Funding.

Christopher D. Farrar has been the CEO of Velocity Financial since its conversion from a limited liability company to a corporation in January 2020. With a solid background in finance, holding a Bachelor's degree in the field, he has steered...

Year

2023

Total Compensation

$2.48M

Salary

$630.00K

Board Justification

The compensation philosophy emphasizes performance-based pay that aligns executives' interests with those of shareholders, aiming to attract and retain top talent while rewarding superior performance.

Bonus

$1.83M

Board Justification

The cash incentive bonus awarded for 2023 was based on a performance-based cash incentive program, with a formulaic outcome of $1,890,000, but was reduced to $1,830,465 by the Compensation Committee.

Other

$17.84K

Board Justification

Other compensation includes a matching contribution under the 401(k) Plan and reimbursement for medical and dental insurance premiums.

Restricted Stock

$0.00(0 RSU)

Board Justification

No stock was reported as vested in 2023 for the CEO.

Performance Metrics

The performance metrics for the CEO's compensation included core net income annual growth and individual performance objectives.