The CEO received total reported compensation of approximately $24.6 million for 2025, with 100% of his direct pay delivered in equity (zero base salary) and 75% of that equity subject to performance conditions tied to bookings and adjusted EBITDA margin targets — a pay mix that is almost entirely variable and performance-linked, well exceeding the 50-60% variable pay threshold required by our policy. The prior Say-on-Pay vote received 95% support, signaling strong shareholder endorsement of the program. While Roblox's 3-year stock return of +36.4% trails the company-disclosed peer group median of +98.4% by 62 percentage points, this gap falls below the 65-percentage-point threshold required to trigger a pay-for-performance concern under our policy for companies with strong positive absolute returns, and the completed 2024 PSU cycle paid out at 200% of target reflecting genuine outperformance against pre-set bookings and profitability goals.

Non-audit fees (tax fees of $53,000 plus other fees of $2,000, totaling $55,000) represent approximately 1.2% of audit fees of $4,440,000 — well within our 50% threshold. Auditor tenure is not disclosed in the proxy, so the tenure trigger does not fire per policy. Deloitte is a Big 4 firm appropriate for a $40B market cap company. No material restatements are disclosed.