Paul Allen
About Paul Allen
Paul Allen (age 55) is President of Airship AI Holdings (AISP). He has served as President since December 2023 (and as President of subsidiary Airship AI, Inc. since 2019), with prior roles at IBM (14 years; Business Unit Executive), as a partner in a Northern Virginia technical services firm, and 28+ years in the U.S. Army Special Forces (retired 2021 as CW3). He holds a B.S. in Strategic Studies & Defense Analysis from Norwich University . Operationally, AISP grew revenue 87% year-over-year to $23.1M in 2024 (from $12.3M in 2023), while operating loss improved to $(3.5)M from $(6.6)M .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Airship AI, Inc. | President | 2019–present | Leads commercial and government go-to-market and product execution . |
| Airship AI, Inc. | VP Sales | 2017–2019 | Scaled sales organization prior to promotion to President . |
| Airship AI, Inc. | Director, Business Development | 2015–2017 | Built pipeline and early customer relationships . |
| IBM | Business Unit Executive (Partner Channel) | 14 years (prior to 2015) | Led partner channel initiatives before moving to direct government support . |
External Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| U.S. Army, 1st Special Forces Command | Senior Warrant Officer (CW3), Green Beret | Retired 2021; 28+ years service | Senior leadership in Special Forces; operational experience relevant to defense customer set . |
| Northern Virginia boutique firm | Partner | Prior to 2015 | Provided technical goods/services to U.S. Government & DoD; exited after private acquisition . |
Fixed Compensation
| Year/Agreement | Base salary ($) | Target bonus % | Actual bonus ($) | Notes |
|---|---|---|---|---|
| 2023 (NEO disclosure) | 300,000 | Not disclosed | 32,942 | Option awards grant-date FV $317,519; total comp $650,461 . |
| 2024 (NEO disclosure) | 320,875 | Not disclosed | 0 | Option awards grant-date FV $49,464; total comp $370,339 . |
| Employment Agreement (3/4/2025) | 350,000 | Not disclosed | N/A | 3-year term; eligible for performance-based bonus set by Board . |
Performance Compensation
| Instrument | Grant date | Type | Shares/Units | Exercise price | Vesting | Term/Expiration | Notes |
|---|---|---|---|---|---|---|---|
| Annual equity (2023) | 2023 (NEO table) | Stock options | — | — | — | — | Grant-date FV $317,519 . |
| Annual equity (2024) | 2024 (NEO table) | Stock options | — | — | — | — | Grant-date FV $49,464 . |
| New-hire/renewal package | 3/4/2025 | Stock options | 100,000 | $3.27 | Vests immediately | 10 years | Granted under 2023 Plan . |
| New-hire/renewal package | 3/4/2025 | Stock options | 300,000 | $3.27 | Vests quarterly over 4 years | 10 years | Granted under 2023 Plan . |
Performance cash bonus metrics and weighting are not disclosed; the agreement states eligibility subject to performance criteria set by the Board .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | 1,093,257 shares (3.1% of 34,175,563 outstanding as of Oct 16, 2025) . |
| Vested/Exercisable derivatives | Includes 1,041,309 options exercisable within 60 days (footnote 4) . |
| Shares outstanding reference | 34,175,563 common shares outstanding (Oct 16, 2025) . |
| Anti-hedging/pledging policy | Hedging prohibited; pledging/margining limited to ≤25% of total owned shares . |
| Ownership guidelines | Not disclosed in proxy . |
| Director/officer group ownership | Directors and officers as a group: 46.8% . |
Employment Terms
| Term | Detail |
|---|---|
| Agreement date | March 4, 2025 . |
| Position | President . |
| Base salary | $350,000 . |
| Term length | 3 years; auto-renews for 1-year periods unless 90‑day non-renewal notice . |
| Termination | At-will by either party . |
| Severance | 3 months (termination without cause or resignation for good reason) . |
| Change-of-control | No individual CIC multiple disclosed; Equity Plan allows committee discretion to assume/cancel/accelerate awards upon CIC, particularly if terminated in connection with CIC . |
| Clawback policy | Compensation committee administers clawback policy (details not disclosed) . |
| Non-compete / Non-solicit | Not disclosed. |
| Retirement/Deferred comp | No defined benefit pension or nonqualified deferred comp; 401(k) and health/welfare plans available . |
Compensation Structure Analysis
- Cash vs equity mix shifted toward cash in 2024: salary up to $320,875 and no bonus; option FV fell to $49,464 vs $317,519 in 2023, reducing equity’s share of total comp (2024 total $370,339 vs 2023 $650,461) .
- 2025 package adds meaningful long-dated equity (400,000 options at $3.27), with 75% vesting quarterly over four years, indicating retention-focused design while aligning upside to share price performance .
- Plan governance: explicit anti-hedging and pledging limits, anti-repricing without shareholder approval, and committee oversight of clawback reduce shareholder risk from pay practices .
Performance & Track Record
| Metric | 2023 | 2024 | YoY |
|---|---|---|---|
| Revenue ($, millions) | 12.300 | 23.050 | +87.4% |
| Operating loss ($, millions) | (6.640) | (3.505) | +47.2% improvement |
| GAAP net (loss)/income ($, millions) | 16.371 | (57.465) | n/m (driven by non-cash fair value losses) |
| Stock price reference | — | $4.48 close on 2/26/2025 | — |
Notes: 2024 net loss driven primarily by non-cash losses from warrant/earnout liabilities as stock price increased; operating performance improved despite higher SG&A as a newly public company .
Governance, Committee, and Plan Context
- Compensation Committee: Louis Lebedin (Chair), Peeyush Ranjan, Amit Mital; all non-employee directors; oversees CEO/NEO pay, incentive/equity plans, and clawback policy .
- 2023 Equity Incentive Plan: share reserve 5,068,009 proposed increased to 7,068,009; evergreen +2% annually (2026–2033); non-employee director compensation cap $250,000; change-in-control actions at committee discretion; anti-repricing without shareholder approval .
Investment Implications
- Alignment/retention: Large option overhang for Allen (1.04M options exercisable within 60 days plus new 400k grant) tightly ties outcomes to share price; quarterly vesting over four years supports retention but introduces steady potential supply as options vest, especially if in-the-money .
- Downside protections limited: Only 3 months severance suggests low parachute risk and stronger pay-for-performance stance; no disclosed tax gross-ups or special CIC multiples .
- Selling pressure risk: Anti-hedging/pledging curbs misalignment; however, the combination of sizable exercisable options and upcoming vesting may create episodic selling overhang in strength; monitor Forms 4/144 for execution patterns .
- Execution/scale-up: Revenue nearly doubled in 2024 with improved operating loss, but GAAP net loss is volatile due to liability fair-value marks; execution on pipeline and opex discipline are key to sustained value creation under Allen’s commercial leadership .