ProCap Financial to implement ‘moonshot’ compensation structure for CEO, board

ProCap Financial announced a decision to implement a “moonshot” compensation structure for CEO Anthony Pompliano, the Board of Directors, and all founding equity held by Columbus Circle I Sponsor Corp and Professional Capital Management. The “moonshot” compensation structure was created to align CEO Anthony Pompliano and the Board of Directors with the long-term interests of shareholders. The company said, “This decision comes after Columbus Circle Capital Corp I shareholders voted to approve the business combination between ProCap BTC, and BRR. The Company believes it is the first public company in capital markets history to adopt the “moonshot” compensation structure, which includes: CEO Anthony Pompliano will be paid a $1 annual salary and 100% of his personal equity compensation will be dependent on the Company achieving significant milestones. Mr. Pompliano’s equity compensation does not begin vesting until the Company’s stock price hits $15 per share and continues to vest in $2.50 per share increments until $50 per share. Members of the Board of Directors will take 100% of their equity compensation in a performance-based structure. Each director’s equity compensation begins vesting at $12.50 per share and continues to vest in $2.50 per share increments until $20 per share. The Sponsor and Professional Capital Management will put 100% of their founding equity in a long-term, performance-oriented structure. This founding equity vests when the stock hits either $10.21 per share, bitcoin’s price hits $140,000 per coin, or certain time milestones are reached.”