Stephen Ehikian
C3.aiAbout Stephen Ehikian
Stephen Ehikian, age 44, was appointed Chief Executive Officer of C3.ai, Inc. effective September 1, 2025, after serving in senior roles across enterprise software and the public sector, including founding team roles at RelateIQ, VP of Products at Salesforce, CEO/cofounder of Airkit.ai, VP of AI Products at Salesforce, and Acting Administrator/Deputy Administrator of the U.S. General Services Administration. He holds a bachelor’s degree in mechanical engineering and economics from Yale University and an MBA from the Stanford Graduate School of Business . In FY26 Q1, C3 AI reported revenue of $70.3 million alongside operational highlights (e.g., 28 initial production deployments), following a disappointing quarter in which management described a ~$30 million subscription miss that mathematically reduced the year by ~$85 million; investors reacted with a >10% stock drop post-announcement while the company recalibrated under new leadership .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| RelateIQ | Founding team; COO & CFO | 2011 – Jul 2014 | Acquired by Salesforce; RelateIQ underpins Salesforce Einstein |
| Salesforce | VP of Products | Jul 2014 – Jul 2017 | Senior product leadership in enterprise software |
| Airkit.ai | CEO & Cofounder | Oct 2017 – Nov 2023 | Acquired by Salesforce; Airkit.ai is core to Salesforce Agentforce |
| Salesforce | VP of AI Products | Nov 2023 – Jan 2024 | Led AI product initiatives |
| U.S. General Services Administration (GSA) | Acting Administrator & Deputy Administrator | Jan 2025 – Jul 2025 | Spearheaded procurement/technology modernization, pioneering AI adoption and unlocking billions in taxpayer savings |
| C3.ai, Inc. | Chief Executive Officer | Sep 1, 2025 – Present | Appointed CEO; leading pivot to scaled enterprise AI adoption |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| U.S. General Services Administration (GSA) | Acting Administrator & Deputy Administrator | Jan 2025 – Jul 2025 | Government-wide procurement and technology modernization; pioneering AI adoption |
Fixed Compensation
| Component | Amount | Terms |
|---|---|---|
| Base Salary | $1,000,000 per year | Per Employment Letter dated Aug 29, 2025 |
| Target Annual Bonus | $1,000,000 | Discretionary; Compensation Committee may award up to $2,000,000 |
| First-Year Bonus Guarantee | $1,000,000 | Guaranteed for first year; paid quarterly in equal installments, subject to full-time active employment on each payment date |
Performance Compensation
RSU Inducement Award
| Element | Value | Vesting | Terms |
|---|---|---|---|
| Total RSU Award (grant date FV) | ~$20,000,000 | Multi-tranche | Inducement award, subject to Board/Comp Committee approval |
| Contingent Portion | ~$7,000,000 | Vests Dec 30, 2025 | If resigns for any reason or terminated for cause within 24 months and Contingent Portion has vested, must repay cash equal to FMV as of Dec 30, 2025 |
| Remaining Portion | ~$13,000,000 | Vests quarterly in 11 equal installments | Approx. ~$1.182M per quarterly installment by FV; subject to vesting acceleration provisions set forth in Employment Letter |
Stock Option Inducement Award
| Element | Value | Vesting | Terms |
|---|---|---|---|
| Total Option Award (grant date FV) | ~$15,000,000 | 5% vests three months after grant; 5% vests quarterly thereafter | Inducement award, subject to Board/Comp Committee approval; strike price and expiration not disclosed; subject to vesting acceleration provisions |
Annual Bonus Mechanics
| Metric | Target | Actual/Payout | Vesting/Payment |
|---|---|---|---|
| Discretionary Annual Performance Bonus | $1,000,000 target; up to $2,000,000 possible | First-year $1,000,000 guaranteed | Paid quarterly in equal installments during first year, contingent on active employment on payment dates |
Equity Ownership & Alignment
- Inducement RSU and option packages create substantial equity-linked exposure; the $7 million Contingent Portion vests in 2025 and is subject to a 24-month repayment obligation upon voluntary resignation or termination for cause, directly discouraging short-tenure cash-out behavior .
- Both awards include vesting acceleration provisions per the Employment Letter, aligning retention and potential change-of-control outcomes with continued service; specific acceleration triggers are not disclosed .
- Share counts, options strike price, expiration, total beneficial ownership, and pledging disclosures are not provided in the cited materials.
Employment Terms
| Term | Details |
|---|---|
| Start Date | Effective September 1, 2025 |
| Employment Letter Date | August 29, 2025 |
| Base Salary | $1,000,000 |
| Annual Bonus | $1,000,000 target; up to $2,000,000; first-year $1,000,000 guaranteed, paid quarterly with active employment condition |
| RSU Inducement Award | ~$20,000,000 FV; $7,000,000 vests Dec 30, 2025; remaining vests quarterly over 11 equal installments |
| Option Inducement Award | ~$15,000,000 FV; 5% at 3 months post-grant, then 5% quarterly thereafter |
| Repayment Obligation | If resigns for any reason or terminated for cause within 24 months and the Contingent Portion has vested, repay cash equal to the Contingent Portion’s FMV as of Dec 30, 2025 |
| Vesting Acceleration | Included in Employment Letter; specific conditions not disclosed |
| Officer Role Confirmation | CEO signature on later filings confirms ongoing role |
Performance & Track Record
| Category | Highlights |
|---|---|
| Enterprise AI & Product | Founding team leadership at RelateIQ (acquired by Salesforce; underpins Salesforce Einstein); CEO/cofounder Airkit.ai (acquired by Salesforce; core to Salesforce Agentforce); VP of AI Products at Salesforce |
| Public Sector | As Acting Administrator/Deputy Administrator at GSA, led procurement/tech modernization, pioneering AI adoption and “unlocking billions” in savings |
| C3 AI FY26 Q1 Operations | Revenue $70.3M; 28 initial production deployments; cash balance $711.9M; expanded partner pipeline +54% YoY; 40 partner agreements; 24 agreements jointly closed with Microsoft |
| Transition Context | Management characterized a ~$30M subscription miss in Q1, mechanically reducing the full-year by ~$85M; stock fell >10% post-announcement; founder moved to Executive Chairman supporting strategic relationships |
Investment Implications
- Compensation alignment: Large inducement RSU and option grants with multi-year vesting plus a 24-month repayment obligation on the $7M contingent RSU reduce near-term exit risk and incentivize tenure; option vesting provides upside leverage tied to future execution and market perception .
- Near-term selling pressure: The Dec 30, 2025 vest of the $7M RSU tranche introduces a potential liquidity event; however, the repayment clause materially disincentivizes immediate departure after vesting, mitigating classic “golden handshake” risk .
- Execution focus: Q1 FY26 operational metrics show partner-led pipeline strength and deployments, but the subscription miss and guidance withdrawal underscore execution risk in rebuilding momentum; the CEO’s product/government background may aid in scaling deployments, particularly in federal verticals .
- Governance continuity: Founder as Executive Chairman supporting partners/strategic customers provides continuity while enabling the CEO to focus on enterprise AI scaling and operational rigor .
Citations: