Beta Technologies founder Kyle Clark earned a $15 million payday following the electric aircraft company’s stock exchange debut last fall.
The South Burlington company recently disclosed executive compensation information to its shareholders ahead of its first-quarter earnings report this week.
Clark and other company leaders stood to benefit from Beta’s initial public offering on the New York Stock Exchange, which raised over $1 billion that Beta needed to bring its new electric aircraft to market.
Clark, a Harvard-trained engineer and former hockey player, earned more than $5.7 million in cash last year, including a $2.1 million discretionary bonus and a $3 million bonus for leading the company through its IPO. The board of directors also awarded Clark stock worth over $10 million at the end of 2025, though the company’s stock price has since dropped more than 33%.
The CEO’s base salary increased last August from $530,000 to $815,000. His spouse, Katie Clark, earned just under $450,000 in compensation as Beta’s director of facilities, communications and culture, according to the annual report.
Other executives also received multimillion-dollar compensation packages. Chief Financial Officer Herman Cueto earned $4.8 million, mostly in stock options. Chief Legal Officer Brian Dunkiel earned $2.8 million through a similar arrangement.
A portion of the executives’ stock awards will be granted over four years in order to “provide long-term retention incentives” following Beta’s transition to a public company, the report states.
The men also earn quarterly stock payouts based on certain performance milestones. Beta achieved the first milestone in April; Clark sold shares from the performance-based payout last week for $1.2 million, according to disclosures with the U.S. Securities and Exchange Commission.
Beta is aiming to certify small electric aircraft that backers believe will help usher in a new era of regional air travel. The company is racing several others to win approval from the Federal Aviation Administration so its aircraft can enter commercial service. The size of the eventual market for such planes remains uncertain, however.
Surf Air Mobility is the latest prospective customer to place an advance order for Beta’s aircraft. The regional airline company ordered 25 planes, with an option to purchase another 75, for a total deal worth up to $375 million, Clark told investors during an earnings call on Tuesday.
Clark said the company is making ample progress toward certifying its aircraft, expanding its airport charging network and ramping up its manufacturing line. Beta has run into hangups with the FAA on several elements of its certification plan, he said, but the issues involve how to demonstrate compliance with FAA policies, not technical problems with the experimental aircraft.
“We are confident that we will arrive at a mutually beneficial resolution,” Clark said.
Beta spent more than $138 million on operations over the first three months of 2026, mostly on research and development. The company reported just over $10 million in revenue during the same period. Beta had more than $1.5 billion in cash on hand.
The company’s stock price dipped following the earnings report, but had increased to over $18 per share by Wednesday afternoon. It continues to trade well below the November IPO price of $34 per share.