Top executives at Prosper Inc, a peer-to-peer lending company, have taken significant cuts in pay in 2009 compared to their 2008 compensation levels, according to a new regulatory filing that th company made with the Securities and Exchange Commission.
Prosper Chief Executive Chris Larsen earned a 2009 salary of $125,673, down from his $150,000 salary for 2008, representing a 16% pay-cut.
Former General Counsel Edward A. Giedgowd was set to receive a 2009 salary of $198,712, down from his 2008 salary of $227,500. Giedgowd resigned his position from Prosper Marketplace in August of 2009 but remained with the company through the end of October 2009.
Chris Denerd, former CTO of Prosper was set to earn a $148,243 salary, down from $154,404. Denerd resigned his position on March 19th, 2010. Denerd was also given 50,000 stock options awarded with an exercise price of $0.56.
Kirk Inglis, COO and CFO of Prosper, was the only top executive listed to receive a bump in pay during 2009. Inglis received a 2009 salary of 190,000 versus his 2008 salary level of 180,000. Inglis was given 100,000 stock options at $0.56 per share.
