Coinbase CEO Brian Armstrong total compensation nears $60 million in 2020
Coinbase CEO Brian Armstrong took home nearly $60 million in total compensation last year, according to the exchange operator's S-1 Form published Thursday.
That figure includes $1 million in salary, $56.7 million worth of stock options granted at a fair value, and $1.8 million marked as "all other compensation." Armstrong's total benefit for the year could range higher if his options are valued at the market price of Coinbase's stock.
Per the filing, the $1.8 million refers to personal security. "We view personal security expenses for Mr. Armstrong as reasonable business expenses due to a bona fide business-oriented security concern and not the receipt of taxable personal benefits."
Among the other highest-earning executives at Coinbase include chief product officer Surojit Chatterjee and chief legal officer Paul Grewal, per the S-1 Form.
Chatterjee brought in $616,435 in salary, $300,000 in bonus and $14,950,463 in options awards for a total of roughly $15.86 million.
Grewal, per the filing, earned $209,519 in salary, a $100,000 bonus, $7.6 million in stock awards and $10.1 million in options awards, for a total of about $18 million.
Editor's Note: This headline has been adjusted for clarity.