BRR Pioneers Performance-Based Compensation, Tying Leadership Rewards to Shareholder Gains and Bitcoin Milestones

A Compensation Structure Centered on Results, Not Guarantees

In a first-of-its-kind move in the public markets, ProCap Financial, set to trade as BRR on the Nasdaq, is rolling out a compensation system that squarely ties leadership rewards to company performance and shareholder success. This innovative approach comes as the business combination between ProCap BTC and Columbus Circle Capital Corp I receives shareholder approval and prepares to close around December 5, 2025.

The key takeaway? CEO Anthony Pompliano and all founding equity holders are now only rewarded if ProCap hits some very ambitious milestones—including significant stock price targets and, for sponsors, even future bitcoin price benchmarks. Their compensation is now 100% performance-based—a structure that could change the conversation around public company governance and incentives.

Leadership Compensation Fully Tied to Stock and Crypto Milestones

Let’s look at what’s different with BRR’s “moonshot” compensation plan. Anthony Pompliano will receive a $1 annual salary. His entire equity compensation starts to vest only once the company’s stock hits $15 per share, then continues to vest in increments as the stock price climbs further. Meanwhile, Board members must wait until the share price reaches $12.50 to see any equity vesting, also stepping up at set price levels. Sponsors' and founding investors’ equity isn’t released until either the stock clears $10.21, bitcoin breaks $140,000 per coin, or enough time passes—whichever comes first.

This structure means that if the company and its stock don’t perform, the top executives and board don’t get paid. The intent is long-term shareholder alignment: no win, no reward. As Pompliano notes, “We are building ProCap Financial on a principle that we believe should be standard across all public companies: CEOs and boards of directors should get paid when shareholders win.”

Long-Term Alignment, Not Short-Term Windfalls

ProCap Financial is now the first public company to embed such a “moonshot” structure into both management and founder compensation post-de-SPAC. The shift arrives at a time when public investors increasingly call for transparency, accountability, and an end to excessive upfront executive rewards. The sponsor’s own long-term lockup of founding equity further demonstrates commitment—founders only profit if the business thrives and delivers outsized results over time.

Why This Could Be a Model for Future Public Companies

The big question: Could this ‘results-first’ pay model set a precedent? It could reshape how investors and boards evaluate alignment between shareholder outcomes and executive pay. Performance-based structures, especially those pegged to share price and major industry benchmarks like bitcoin, send a clear message—success must be shared.

For shareholders and market watchers, the closing of this business combination brings an experiment worth monitoring: will strong incentives drive outsized performance, or prove too aggressive in volatile markets? With $750 million raised from institutional and Bitcoin-sector investors, and its launch targeting 1 billion customers, ProCap’s leadership is betting big on both growth and discipline. As the company starts trading under BRR, the market will judge whether a “moonshot” mindset leads to lift-off—or if the risk of all-or-nothing incentives presents new challenges.

Key Details: BRR and the Path Forward

• Business Combination anticipated to close on or about December 5, 2025.
• New entity will trade on Nasdaq as "BRR".
• ProCap BTC has raised over $750 million in capital from top-tier institutional and Bitcoin industry investors.
• ProCap aims to create products designed to serve independent investors globally.

For those following executive pay reform or watching the intersection of public equities and crypto, BRR is now an important case study in market-driven compensation. It’s a model that others in the sector may soon be compelled to follow.

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