Aristotle Balogh
AirbnbAbout Aristotle Balogh
Aristotle Balogh is Airbnb’s Chief Technology Officer, serving in the role since November 2018; he is 61 years old and holds a B.S. in Electrical Engineering and Computer Science and an M.S. in Electrical and Computer Engineering from Johns Hopkins University . Prior to Airbnb, he led the data and serving systems behind Google Search as VP of Engineering at Alphabet (2011–2018) and served as EVP & CTO of Yahoo! (2008–2010) . Company performance under his tenure includes 2024 revenue of $11.1B (+12% YoY), Adjusted EBITDA of $4.0B (+11%), FCF of $4.5B (+17%), and GBV of $81.8B (+12%), following record 2023 results with revenue $9.9B, GBV $73B, net income $4.8B, Adjusted EBITDA $3.7B, and FCF $3.8B (+13%) . Pay-versus-performance disclosures show cumulative TSR value of a $100 investment at $90.81 for 2024 and $94.08 for 2023; stock price measure was $135.23 for 2024 and $128.87 for 2023 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Alphabet (Google) | VP of Engineering | 2011–2018 | Led data and serving systems powering Google Search |
| Yahoo! Inc. | EVP & CTO | 2008–2010 | Technology leadership across Yahoo’s platforms |
External Roles
- No current public company directorships disclosed for Balogh .
Fixed Compensation
| Element | FY 2024 | Notes |
|---|---|---|
| Base Salary | $650,000 | Increase from $600,000 effective Feb 18, 2024; salary earned in 2024 shown as $642,308 due to effective date |
| Target Annual Bonus % | 75% of base | Applies to FY 2024 |
| Cash Incentive Payouts | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|
| Target Bonus ($) | $450,000 | $450,000 | $450,000 | $487,500 |
| Achievement (%) | 100% | — | 96% | 96% |
| Actual Payout ($) | $450,000 | $436,500 | $432,000 | $468,000 |
Performance Compensation
| Annual Bonus Metric (FY 2024) | Weighting | Target | Actual | Weighted Achievement | Payout |
|---|---|---|---|---|---|
| Business Performance (e.g., nights booked growth) | 15% | Not disclosed | Not disclosed | 15% | 96% of target overall |
| Make Hosting Mainstream (listings growth) | 15% | Not disclosed | Not disclosed | 15% | 96% of target overall |
| Perfect the Core (quality, CSAT, reliability, fixed cost growth) | 25% | Not disclosed | Not disclosed | 23% | 96% of target overall |
| Expand Beyond the Core (intl markets, Winter Release) | 15% | Not disclosed | Not disclosed | 14% | 96% of target overall |
| Grow & Engage Guest Community (Summer Release, new guest growth) | 30% | Not disclosed | Not disclosed | 29% | 96% of target overall |
| Equity Grants (Balogh) | Grant Date | Instrument | Shares | Exercise Price | Vesting | Grant-Date Fair Value ($) |
|---|---|---|---|---|---|---|
| FY 2024 Annual | Apr 5, 2024 | RSUs | 46,534 | — | 1/16 quarterly, start Feb 19, 2024 | $7,527,805 |
| FY 2024 Annual | Apr 5, 2024 | Options | 49,858 | $168.18 | 1/48 monthly, start Feb 19, 2024 | $4,718,262 |
| FY 2024 One-time | Apr 5, 2024 | RSUs | 33,239 | — | 18.75% quarterly for first 4 quarters then 6.25% for next 4 quarters | $5,377,073 |
| FY 2023 Annual | Mar 27, 2023 | RSUs | 36,762 | — | 1/16 quarterly, start Feb 19, 2023 | $4,334,607 |
| FY 2023 Annual | Mar 27, 2023 | Options | 91,905 | $122.41 | 1/48 monthly, start Feb 19, 2023 | $5,645,908 |
| FY 2022 Annual | Mar 19, 2022 | RSUs | 25,907 | — | 1/16 quarterly, start Feb 19, 2022 | $4,326,469 |
| FY 2022 Annual | Mar 19, 2022 | Options | 64,767 | $167.00 | 1/48 monthly, start Feb 19, 2022 | $5,282,309 |
| Equity Realization (Balogh) | FY 2023 | FY 2024 |
|---|---|---|
| Options Exercised (Shares) | 80,000 | 419,728 |
| Value Realized on Exercise ($) | $7,598,694 | $44,511,732 |
| RSUs Vested (Shares) | 51,500 | 55,457 |
| Value Realized on Vesting ($) | $6,353,824 | $7,545,278 |
Equity Ownership & Alignment
| Beneficial Ownership Snapshot | As of Mar 15, 2024 | As of Apr 7, 2025 |
|---|---|---|
| Shares Owned (Class A) | 99,036 | 101,950 |
| Options Exercisable within 60 days (Class A) | 294,976 | 154,562 |
| RSUs Vesting/Settling within 60 days (Class A) | — | 12,288 |
| Ownership % of Shares Outstanding | Not disclosed | |
| Stock Ownership Guidelines | 5x base salary for executive officers | |
| Hedging/Pledging Policy | Hedging prohibited; pledging only with board approval, capped at 5% of officer’s holdings and loans ≤ $50M |
Employment Terms
| Term | Outside Change-in-Control (CIC) | During CIC (3 months before to 12 months after) |
|---|---|---|
| Cash Severance | Lump sum equal to annual base salary (Balogh: $650,000 at 12/31/2024) | Lump sum equal to base salary + target bonus (Balogh: $1,137,500 at 12/31/2024) |
| Medical (COBRA) | Company-paid/reimbursed premiums up to 12 months | Company-paid/reimbursed premiums up to 12 months |
| Equity Acceleration | Time-based awards vest for shares that would vest in next 6 months | Time-based awards fully vest; performance awards per award agreements |
| CIC Treatment if Awards Not Assumed | All awards (other than CEO Multi-Year Award) vest in full; CEO award converts/accelerates per price hurdles and terms | |
| Clawback Policy | Recovery of erroneously paid incentive compensation for Section 16 officers upon accounting restatement (SEC/Nasdaq compliant) |
Compensation Peer Group and Say‑on‑Pay
- 2024 primary peer group: Adobe, Block, Booking Holdings, DoorDash, Intuit, Netflix, Pinterest, Salesforce, ServiceNow, Shopify, Spotify, Uber, Zoom Video Communications .
- Say‑on‑Pay approval: 98.8% at 2024 meeting; 99.1% at 2023 meeting .
Expertise & Qualifications
- Education: B.S. EECS and M.S. ECE, Johns Hopkins University .
- Technical leadership: Led Google Search serving systems; prior CTO leadership at Yahoo! .
- Current role: Airbnb CTO since November 2018 .
Work History & Career Trajectory
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Airbnb, Inc. | Chief Technology Officer | Since Nov 2018 | Executive officer; oversees core platform and engineering |
| Alphabet (Google) | VP of Engineering | 2011–2018 | Responsible for data and serving systems behind Search |
| Yahoo! Inc. | EVP & CTO | 2008–2010 | Enterprise-wide technology leadership |
Compensation Structure Analysis
- Cash vs equity mix: Balogh’s compensation remains predominantly equity-based; FY 2024 stock awards $12.9M and option awards $4.7M vs salary $642,308 and bonus $468,000 . Shift to 70% RSUs / 30% options in 2024 from prior 50/50 increases guaranteed equity and retention orientation versus pure performance leverage .
- Bonus plan rigor: Company-set objectives across five stakeholder-aligned priorities; payouts capped at 120% and delivered 96% in both 2023 and 2024, indicating disciplined calibration and consistent execution against targets .
- Option exercises: Significant option exercises in 2024 ($44.5M realized), which can signal liquidity events and potential selling pressure around vesting/exercise schedules; exercises were much lower in 2023 ($7.6M) .
Risk Indicators & Red Flags
- Hedging banned; pledging tightly restricted (board approval, ≤5% of officer’s holdings, loans ≤$50M), reducing misalignment risk .
- Tax gross‑ups limited (nominal allowances only); no single‑trigger equity acceleration in CIC; clawback policy in place (SEC/Nasdaq) .
- No option repricing or related-party transactions disclosed in provided sections .
Equity Vesting Schedules and Insider Selling Pressure
- RSUs generally vest quarterly over four years; 2024 one-time RSUs vest front-loaded (18.75% quarterly, then 6.25%) supporting near-term retention .
- Options vest monthly over four years; 2024 options strike $168.18, 2023 $122.41, 2022 $167.00, anchoring value realization to sustained stock performance .
- Realization data: 419,728 options exercised in 2024 vs 80,000 in 2023; RSU vesting value also increased in 2024, suggesting heightened liquidity events tied to schedule .
Investment Implications
- Alignment: Strong equity emphasis and strict hedging/pledging/clawback policies align Balogh with long-term shareholder value; ownership guidelines at 5x salary reinforce skin-in-the-game .
- Retention: Front-loaded 2024 RSU award and increased annual equity grant size signal proactive retention; CIC protections (1x salary+bonus and full time-based acceleration) are market-consistent and reduce transition risk .
- Execution: Consistent bonus plan attainment (96% in 2023–2024) and company operating metrics (double-digit revenue/GBV growth) underpin execution quality, though significant 2024 option exercise magnitude may introduce near-term supply considerations .