Paul Joseph
AKAMAI TECHNOLOGIESAbout Paul Joseph
Paul Joseph, age 51, is Executive Vice President, Global Sales and Services at Akamai; he assumed the EVP role in March 2021 and added oversight of Global Services in December 2021, having joined Akamai in January 2000 . In 2024, Akamai delivered $3.99B revenue (+5% YoY), with Security surpassing $2B (+16% YoY) and Compute generating ~$630M (+25% YoY), and operating cash flow of $1.52B (38% of revenue) . Executive annual bonuses paid out at 72.57% of target for 2024, and 2024 PRSUs earned at 80.5%, reflecting below-target company results on revenue and profitability metrics; 2022–2024 relative TSR performance was -10.7% (26th percentile), yielding a 28% payout on that tranche .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Akamai Technologies | EVP, Global Sales and Services | Mar 2021–present | Leads global go-to-market; added Global Services oversight in Dec 2021 |
| Akamai Technologies | SVP, Global Sales – Media & Carrier Division | Sep 2018–Feb 2021 | Drove sales for Media & Carrier segment |
| Akamai Technologies | VP, Field Business Development – Media | Oct 2017–Aug 2018 | Field BD leadership for Media |
| Akamai Technologies | VP, Americas Channel Sales | Mar 2016–Sep 2017 | Channel sales leadership in Americas |
| Akamai Technologies | Business development and account executive roles | Prior to 2016 | Progressive sales/BD roles since 2000 hire |
External Roles
- Not disclosed in company filings reviewed .
Fixed Compensation
| Item | 2024 | 2025 |
|---|---|---|
| Base Salary | $520,000 | $520,000 |
| Target Bonus % of Salary | 100% | 100% (max 220%) |
| Bonus Form | Paid in vested common stock | Paid in vested common stock |
Performance Compensation
2024 Annual Bonus – Plan Structure and Outcome (Company-level)
| Metric | Weight | Threshold | Target | Maximum | Actual | Payout vs Target |
|---|---|---|---|---|---|---|
| Revenue (FX-adjusted) | 50% | $3,706.6M | $4,118.4M | $4,530.2M | $4,032.7M | 79.2% |
| Non-GAAP Operating Income | 50% | $1,094.7M | $1,216.3M | $1,337.9M | $1,187.5M | 76.3% |
| Overall Payout (pre-ESG) | — | — | — | — | — | 77.75% |
| ESG Modifier | — | — | — | — | — | -6.66 pts |
| Final Payout | — | — | — | — | — | 72.57% |
| Executive | 2024 Target Bonus ($) | 2024 Actual Bonus ($) |
|---|---|---|
| Paul Joseph | $504,538 | $366,129 |
Notes: Annual bonus paid in stock for executives .
Long-Term Incentives (Structure)
- Time-vesting RSUs: 1/3 annually over 3 years .
- PRSUs: Earned on annual revenue (FX-adjusted) and non-GAAP EPS for 2024–2026; up to 200% of target; all earned tranches vest after 2026 results are certified (3-year cliff) .
- Relative TSR-based RSUs: Measured vs S&P 500 over 2024–2026; 0–200% payout with 50th percentile = 100% and 75th percentile = 200%; vest after 2026 results certification .
2024 Grants to Paul Joseph (Grant-date target values)
| Award Type | Grant-date Target Value |
|---|---|
| Time-vesting RSUs | $1,880,000 |
| PRSUs | $752,000 |
| Relative TSR-based RSUs | $1,128,000 |
| Total 2024 LTI Target | $3,760,000 |
2024 PRSU results: Overall 80.5% earned (Revenue 79.2%; Non-GAAP EPS 81.8%) .
2025 Program (as approved Feb 2025)
| Component | Paul Joseph |
|---|---|
| Bonus design | 50% revenue (FX-adjusted), 50% adjusted operating income; ESG +/-10%; paid in stock |
| 2025 RSU Grants (grant-date 3/3/25) | Time-vesting RSUs $2,030,000; PRSUs $812,000 (max $1,624,000); TSR-based RSUs $1,218,000 (max $2,436,000). Shares calculated from closing price on grant date; PRSU/TSR share counts sized off max deliverable; standard vesting as above . |
Equity Ownership & Alignment
Beneficial Ownership (as of Feb 25, 2025)
- Shares beneficially owned: 48,840 (<1%); includes 49 shares via 401(k) and 15,663 RSUs vesting within 60 days .
- Stock ownership guidelines: NEOs must hold 3x base salary; all NEOs (including Joseph) in compliance as of 12/31/24 .
- Hedging and pledging: Prohibited for executives and directors .
Outstanding Equity Awards (as of Dec 31, 2024)
| Award | Grant Date | Unvested Units | Market Value ($) |
|---|---|---|---|
| 2024 Time-vesting RSUs | 3/4/24 | 16,973 | $1,623,467 |
| 2024 PRSUs (earned for 2024) | 3/4/24 | 1,822 | $174,274 |
| 2024 PRSUs (unearned target for 2025–2026) | 3/4/24 | 4,526 | $432,912 |
| 2024 TSR-based RSUs (target) | 3/4/24 | 10,184 | $974,100 |
| 2023 Time-vesting RSUs | 3/6/23 | 13,345 | $1,276,449 |
| 2023 PRSUs (earned for 2023–2024; target 2025) | 3/6/23 | 6,200 | $593,030 |
| 2023 PRSUs (unearned target) | 3/6/23 | 2,670 | $255,386 |
| 2023 TSR-based RSUs (target) | 3/6/23 | 12,009 | $1,148,661 |
| 2022 Time-vesting RSUs | 3/7/22 | 3,334 | $318,897 |
| 2022 PRSUs (earned) | 3/7/22 | 9,632 | $921,301 |
| 2022 TSR-based RSUs (earned) | 3/7/22 | 1,400 | $133,910 |
Note: Market values use $95.65 close on 12/31/2024 as disclosed .
Employment Terms
Policies and Clawbacks
- Clawbacks: 2014 policy for detrimental conduct and restatements (36 months lookback) and 2023 policy complying with SEC/Nasdaq requiring recovery of erroneously awarded incentive-based compensation after a restatement (3-year lookback) .
- Anti-hedging/pledging policy applies to executives and directors .
Severance and Change-in-Control (CIC)
- Executive Severance Plan: If terminated without cause, lump sum equals 1x base salary + 1x target bonus, plus up to 12 months COBRA reimbursement, subject to release .
- CIC and termination within 1 year (without cause or for good reason): Lump sum equals base salary + target bonus + prorated target bonus for year of termination, plus up to 12 months COBRA; equity per award terms (assumed awards convert to time-based; unassumed awards accelerate at CIC) .
Estimated Payments for Paul Joseph (as of 12/31/2024)
| Scenario | Cash Severance | Time-Vesting RSU Acceleration | Performance RSU Acceleration |
|---|---|---|---|
| Involuntary Separation Without Cause | $1,024,538 | — | — |
| Involuntary Termination Following CIC | $1,529,076 | $3,218,814 | $4,633,190 |
| Death or Disability | — | $3,218,814 | $2,913,403 |
Performance & Track Record (Company context during tenure)
- 2024 results: Revenue $3.99B (+5% YoY); Security >$2B (+16% YoY); Compute ~$630M (+25% YoY); Operating cash flow $1.52B (38% of revenue) .
- Incentive outcomes: 2024 annual bonus funding 72.57% of target; 2024 PRSU tranche earned 80.5%; 2022–2024 TSR -10.7% and 26th percentile, yielding 28% payout on 2022 TSR RSUs .
Governance, Say-on-Pay, and Peer Benchmarking
- Say-on-pay approval: ~92% support in 2024 .
- Compensation practices: Double-trigger CIC, no excise tax gross-ups, no option repricing without shareholder approval, minimum one-year vesting, bonuses paid in stock for executives .
- Peer benchmarking and design: TL&C uses benchmarking and design peer groups; 2025 benchmarking peers adjusted to reflect competitive set (e.g., added Cloudflare and Zscaler; removed companies acquired or outside market-cap range) .
Investment Implications
- Pay-for-performance calibration: Below-target 2024 bonus (72.6%) and PRSU earn (80.5%) indicate discipline; 2022–2024 TSR underperformance depressed relative-TSR payouts (28%), aligning outcomes with shareholder returns .
- Retention vs. selling pressure: Significant unvested equity (time-based and performance-based) with 3-year PRSU/TSR cliffs and annual RSU vesting suggests strong retention hooks; bonus payment in stock can modestly add supply near certification dates .
- Alignment safeguards: 3x salary ownership guideline compliance, anti-hedging/pledging, and robust clawbacks enhance alignment and risk controls, reducing governance red flags .
- CIC economics: Standard 1x salary/bonus severance and double-trigger equity treatment are moderate; estimated CIC termination value for Joseph (time + performance acceleration) is meaningful and could influence continuity in strategic scenarios .