Defense tech startup Anduril, valued at $14 billion, has been paying its top executives staggering salaries, according to reports filed under the Federal Funding Accountability and Transparency Act (FFATA). The company's compensation packages, which include cash, bonuses, stock options, and multi-year equity grants, have been revealed, showcasing the lucrative deals that have attracted top talent from big tech and government.

The reports, published on the government contracting database USASpending.gov, do not specify the year covered by the compensation data. However, sources familiar with defense contracting told TechCrunch that the data typically correlates to the previous year prior to the contract modification date. By analyzing 26 Anduril contracts between 2021 and 2024, TechCrunch estimated the year of the compensation, which ranges from 2021 to 2023.

An Anduril spokesperson clarified that the reported figures do not necessarily represent the annual earnings of the executives, as they include multi-year equity grants that vest over four or five years and remain illiquid until an initial public offering (IPO). This is similar to how public company executive compensation disclosures work, where the total value of stock options and awards is reported, even if they are contingent on performance metrics or other qualifying acts.

The compensation reports provide a glimpse into how Anduril, which has raised over $4.3 billion to date, has been able to lure top talent away from big tech and government. The company's focus has shifted over the years, with the top paid employees in 2021 being mostly founders, while in 2023, the list includes autonomous vehicle specialists and political veterans.

The top executive compensations reported by Anduril include CEO Brian Schimpf, who earned $19,167,070 in 2021; co-founder and COO Matt Grimm, who earned $13,767,823 in 2021; and co-founder Palmer Luckey, who earned $10,923,494 in 2021. Other top earners include Senior VP Tom Keane, who earned $3,306,500 in 2022, and former Senior VP Adnan Esmail, who earned $3,279,684 in 2023.

The reports also reveal that Anduril's compensation packages have been successful in attracting talent from big tech companies like Microsoft and Tesla, as well as from the government. The company's ability to offer lucrative packages has allowed it to build a strong team with diverse expertise, which has contributed to its success in the defense tech industry.

The revelation of Anduril's executive compensation packages has significant implications for the defense tech industry, highlighting the competitive nature of the market and the need for companies to offer attractive packages to attract and retain top talent. As the industry continues to grow, it will be interesting to see how companies like Anduril adapt their compensation strategies to stay ahead of the competition.

In conclusion, the executive compensation reports filed by Anduril provide a rare glimpse into the lucrative world of defense tech startups. The company's ability to offer staggering salaries and compensation packages has allowed it to build a strong team and establish itself as a major player in the industry. As the industry continues to evolve, it will be important to monitor how companies like Anduril adapt their compensation strategies to stay competitive.