Jeffrey Bedell - President, Ventures Business and Corporate Strategy | Alarm.com Holdings (ALRM) Executive Profile & Compensation

About Jeffrey Bedell

Jeffrey Bedell (age 56) is President, Ventures Business and Corporate Strategy at Alarm.com (since January 2023), after serving as Chief Strategy and Innovation Officer from April 2013 to January 2023; previously CTO and EVP of Technology at MicroStrategy (2001–2013). He holds a B.A. in Religion from Dartmouth College . Company performance in FY2024: SaaS and license revenue +10.9% to $631.2M, total revenue +6.6% to $939.8M, net income +51.3% to $124.1M, and adjusted EBITDA rose to $176.2M—these metrics drive executive bonuses and demonstrate pay-for-performance linkage . Bedell beneficially owns 559,305 Alarm.com shares (1.1% of outstanding); includes 100,500 options exercisable within 60 days, excludes 34,500 unvested RSUs .

Past Roles

Organization	Role	Years	Strategic impact
Alarm.com	President, Ventures Business and Corporate Strategy	Jan 2023–present	Leads ventures and corporate strategy functions
Alarm.com	Chief Strategy and Innovation Officer	Apr 2013–Jan 2023	Oversaw strategy and innovation initiatives

External Roles

Organization	Role	Years	Strategic impact
MicroStrategy Incorporated	Chief Technology Officer	2001–Oct 2012	Senior technology leadership
MicroStrategy Incorporated	Executive Vice President of Technology	2007–Mar 2013	Led technology organization

Fixed Compensation

Component	FY 2024	Notes
Base Salary ($)	$423,500	Effective Sep 1, 2024; amount actually paid in 2024 was $411,501 due to mid-year increase
Target Bonus ($)	$313,500	Effective Sep 1, 2024; prorated per policy
Actual Bonus Paid ($)	$277,627	2024 payout driven by corporate metrics

Performance Compensation

Annual Incentive Plan (FY 2024)

Metric	Weighting	Target	Actual	Payout impact	Structure
SaaS and license revenue	Not disclosed	Not disclosed	0.2% above target	No increase to target payout	±2% payout change per ±1% achievement vs target
Adjusted EBITDA	Not disclosed	Not disclosed	8.4% above target	+4.2% increase to payout	+0.5% payout change per +1%; −1% per −1%
Total payout (incl. individual performance tier)	—	—	—	91.2% of target bonus for Bedell; paid $277,627	Bonus capped at 150% of target; formulaic tiers

Equity Awards (Vesting schedules → potential selling pressure)

Grant year	Type	Grant date	Shares/Units	Strike ($)	Expiration	Grant-date fair value ($)	Vesting schedule
2024	RSU	May 22, 2024	17,500	—	—	1,172,850	20% each anniversary over 5 years (May 22, 2025–2029)
2024	Stock options	May 22, 2024	17,500	67.02	May 21, 2034	517,559	60 equal monthly installments starting Jun 1, 2024
2023	RSU	May 22, 2023	17,500	—	—	901,250	20% each anniversary over 5 years
2023	Stock options (annual)	May 22, 2023	17,500	51.50	May 21, 2033	390,295
2023	Stock options (one-time)	May 22, 2023	40,000	51.50	May 21, 2033	892,102

2024 outstanding options: 2,041 exercisable and 15,459 unexercisable at $67.02 (expires May 21, 2034) as of Dec 31, 2024; 17,500 2024 RSUs unvested with $1,064,000 market value .
Time-based vesting over five years for RSUs and monthly vesting for options increases retention (and staggers potential share sales per vest dates) .

Equity Ownership & Alignment

Item	Detail
Total beneficial ownership	559,305 shares; 1.1% of 49,679,679 outstanding
Vested vs unvested (as of Dec 31, 2024)	Options: 2,041 exercisable, 15,459 unexercisable at $67.02 ; RSUs: 17,500 unvested from 2024 grant
Options exercisable within 60 days (footnote)	100,500 included in beneficial ownership
Unvested RSUs excluded from beneficial ownership	34,500 excluded (not yet vested)
Hedging/pledging	Prohibited for executives; no pledging or hedging permitted under Insider Trading Policy
Ownership guidelines	Non-employee director guidelines disclosed; no executive stock ownership guideline disclosed in proxy

Employment Terms

Provision	Disclosed terms
Employment status	At-will; terms set by offer letters
Severance	No severance benefits for named executive officers other than former CFO; Bedell has none disclosed
Change-in-control (CIC)	No CIC benefits disclosed for Bedell (limited provisions exist for former CFO’s pre-2020 awards)
Clawback	Revised clawback policy effective Dec 1, 2023; recoupment of erroneously awarded incentive-based compensation on restatements; applies to current and former executive officers
Tax gross-ups	None provided under 2025 Equity Plan; company states no excise tax “gross-ups” for executives

Compensation Committee Analysis

Committee members: Darius G. Nevin (Chair), Timothy McAdam, Simone Wu; all independent .
Consultant: Compensia engaged; independence assessed, no conflicts of interest .
Pay philosophy: Emphasis on at-risk pay; long-term equity with five-year vesting; annual bonus tied to SaaS/license revenue and adjusted EBITDA; bonus capped at 150% .
Say-on-pay: 2024 vote approved with 90% support; active shareholder outreach with top holders in 2024 .
Risk controls: Prohibition on hedging/pledging, clawback policy, bonus caps; committee reviews compensation risk annually .

Performance & Track Record

Metric (FY 2024)	Outcome
SaaS and license revenue	$631.2M (+10.9% YoY)
Total revenue	$939.8M (+6.6% YoY)
Net income attributable to common stockholders	$124.1M (+51.3% YoY)
Adjusted EBITDA	$176.2M (up from $154.0M in 2023)

These performance results fed directly into Bedell’s bonus calculation via SaaS/license revenue and adjusted EBITDA targets .

Vesting schedules and insider selling pressure

RSUs: 20% vest annually over five years from the grant date (e.g., for 17,500-Share RSUs granted May 22, 2024, 3,500 shares vest each May 22 from 2025 to 2029) .
Options: Monthly vesting (60 equal installments) on grants beginning June 1, 2024; ongoing vesting adds incremental exercisable options each month .
2023 one-time 40,000 options increase potential future option exercises once vested, but vesting cadence remains time-based rather than performance-triggered .

Investment Implications

Alignment: Material ownership (1.1%), multi-year RSU and monthly option vesting, and no hedging/pledging combine to align incentives with long-term value creation and reduce misaligned risk-taking .
Retention: Five-year RSU vesting and steady monthly option vesting are retention-focused; limited severance/CIC benefits lower departure windfalls and point to retention via equity rather than guarantees .
Selling pressure: RSU tranche vest dates (primarily each May 22 for recent grants) and monthly option vesting imply periodic supply; monitor Section 16 filings around those dates for potential insider sales .
Pay-for-performance: Bonus tied to SaaS/license revenue and adjusted EBITDA supports capital discipline; 2024 payout at 91.2% indicates formulaic linkage and moderate variability .
Governance quality: Independent compensation committee with an independent consultant and strong say-on-pay support (90%) mitigate pay inflation and enhance oversight .