Andrew Casey
Chief Financial Officer and Treasurer at AMPL
Executive
About Andrew Casey
Andrew Casey, 55, has served as Amplitude’s Chief Financial Officer since August 1, 2024 (designated principal financial officer on August 9, 2024). He holds a B.S. in Economics (University of Redlands) and an M.B.A. from the Drucker School of Management, and is a certified managerial accountant . Prior roles include CFO of Lacework (oversaw its sale to Fortinet), CFO of WalkMe (led its IPO), and senior finance leadership at ServiceNow, HP, NortonLifeLock/Symantec, Oracle, and Sun Microsystems . Company performance context during his arrival: FY2024 revenue was $299.3M (+8% y/y) and ARR was $312M (+11% y/y); the 2024 pay-versus-performance table shows a cumulative TSR value of $19.25 for a hypothetical $100 initial investment (period as presented) .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Lacework, Inc. | Chief Financial Officer | Nov 2022 – Jul 2024 | Oversaw company’s acquisition by Fortinet |
| WalkMe Ltd. | Chief Financial Officer | Mar 2020 – Sep 2022 | Led IPO; transformed enterprise sales motion |
| ServiceNow, Inc. | SVP Finance & Business Operations | Jun 2014 – Mar 2020 | Scaled finance and business operations |
| Hewlett-Packard; NortonLifeLock (Symantec); Oracle; Sun Microsystems | Various finance roles | Prior to 2014 | Senior finance roles at large-cap tech companies |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Boys & Girls Clubs of the Peninsula | Director (Board) | Jul 2020 – present | Community nonprofit board service |
Fixed Compensation
| Component | Amount | Timing/Notes |
|---|---|---|
| Base salary (annual) | $500,000 | As per Employment Agreement |
| Salary paid (FY2024 actual) | $208,333 | Prorated for start on Aug 1, 2024 |
| Target bonus (% of base) | 50% | Pro-rated for partial 2024 service |
| Sign-on cash bonus | $125,000 | Paid August 2024 |
Performance Compensation
Annual Incentive (Bonus Plan)
- 2024 corporate metrics and payout: 70% revenue, 30% non-GAAP operating income; achievement yielded a 92.9% payout of target .
- Andrew Casey’s 2024 bonus paid: $97,088 (paid March 15, 2025; target pro-rated to 41.8% of annual salary for 2024) .
| Measure | Weight | Target | Actual | Bonus Driver | Payout |
|---|---|---|---|---|---|
| Revenue | 70% | $298.7M | $298.8M | 100.3% | 70.2% |
| Non-GAAP Operating Income | 30% | $1.5M | -$2.2M | 75.6% | 22.7% |
| Total Payout | — | — | — | — | 92.9% |
| Executive | 2024 Bonus Paid | Target Bonus (% base) | Payout vs Target |
|---|---|---|---|
| Andrew Casey | $97,088 | 50% (pro-rated in 2024) | 92.9% |
Equity Awards
| Grant (2024) | Type | Quantity/Value | Vesting |
|---|---|---|---|
| Initial CFO grant | RSUs | 1,125,592 units; grant-date fair value $9,950,233 | 1/12 each quarter starting Aug 15, 2024 (fully vested by 3rd anniversary), service-based |
| Stock options | — | None granted in 2024 | Company currently granting RSUs (not options) |
- Shares vested in 2024: 93,799 RSUs; value realized on vesting $899,532 .
- No options exercised or outstanding options for Casey in 2024 disclosures .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership (as of Apr 15, 2025) | 232,798 Class A shares total; consists of 138,999 owned Class A and 93,799 RSUs vesting within 60 days; <1% of shares outstanding |
| Unvested RSUs at 12/31/2024 | 1,031,793 units (market value $10,885,416 at $10.55 close) |
| 2024 RSUs vested | 93,799 units during 2024 |
| Pledging/Hedging | Company policy prohibits short sales, derivatives/hedging; pledging only with approval (anti-pledging policy) |
| Ownership guidelines | Not disclosed in proxy; no specific multiple noted |
Vesting cadence and potential selling pressure
- Quarterly vesting of 1/12 of 1,125,592 RSUs (~93,799 shares per quarter) through August 2027 creates recurring potential supply around vest dates, subject to trading windows and 10b5-1/insider policies .
Employment Terms
| Term | Base Case Termination (no CoC) | Change in Control (double-trigger within -3/+12 months) |
|---|---|---|
| Cash severance | 6 months base salary | 12 months base salary + 100% target bonus |
| Bonus | Prorated target for service through termination | 100% of target bonus |
| Health benefits | COBRA premium payment/reimbursement for 6 months | COBRA for 12 months |
| Equity | No automatic acceleration disclosed | Full acceleration of unvested equity (except performance awards) |
| Employment type | At-will; standard executive Employment Agreement | Participation in Executive Severance Plan adopted Nov 5, 2024; supersedes prior severance terms |
| Clawback | SEC/Nasdaq-compliant clawback adopted Oct 2, 2023 (recovers incentive comp after material restatement) | |
| Tax gross-ups | None—no tax reimbursement/gross-up on severance or CoC benefits | |
| Anti-hedging/pledging | Hedging prohibited; pledging requires approval |
Compensation Structure Insights
- 2024 pay mix emphasizes equity via a large time-based RSU grant; no stock options were granted to Casey, consistent with the company’s shift to RSUs (“we currently only grant RSUs”)—lower risk than options but still at-risk via stock performance .
- The cash bonus is explicitly tied to financial metrics (70% revenue, 30% non-GAAP operating income) with formulaic payout; 2024 corporate performance produced a 92.9% payout, and Casey’s prorated bonus followed the plan .
- Governance posture: clawback policy in place; anti-hedging/pledging policy; no tax gross-ups; Compensation Committee uses an external consultant (Compensia) and a defined peer group, but does not benchmark to a fixed percentile .
Performance & Track Record (selected)
- CFO impact/experience: led WalkMe IPO (public markets readiness) and oversaw Lacework’s sale to Fortinet (M&A execution), complementing prior scale experience at ServiceNow .
- Company operating markers around his arrival: FY2024 revenue $299.3M (+8% y/y) and ARR $312M (+11% y/y) .
- Investor alignment signal: 2024 Say-on-Pay support of 89.57% (for 2023 program, voted at 2024 AGM) indicates broad shareholder acceptance of compensation design entering his tenure .
- TSR context: 2024 PVP table shows a cumulative TSR value of $19.25 for a $100 initial investment over the period presented (not a direct measure of Casey’s short tenure, but provides market performance context) .
Compensation Peer Group (for benchmarking context)
- 2024 peer set included: Asana, AvePoint, Blackline, Braze, C3.ai, Couchbase, Domo, Enfusion, Fastly, Flywire, JFrog, nCino, Olo, Semrush, Sprinklr, Sprout Social, Varonis, WalkMe, Weave; several larger names (e.g., Confluent, Elastic) were removed for market-cap fit; Committee does not target a specific percentile .
Equity Ownership & Beneficial Ownership Table
| As of date | Class A beneficially owned | Notes |
|---|---|---|
| Apr 15, 2025 | 232,798 (<1%) | 138,999 Class A + 93,799 RSUs vesting within 60 days |
| As of date | Unvested RSUs | Market value basis |
|---|---|---|
| Dec 31, 2024 | 1,031,793 | $10,885,416 at $10.55 close |
Employment Contracts & Policies (selected excerpts)
- At-will employment; standard executive Employment Agreement .
- Executive Severance Plan (adopted Nov 5, 2024) governs severance/CoC benefits (single- and double-trigger terms summarized above) .
- Clawback policy effective Oct 2, 2023 (SEC/Nasdaq compliant) .
- Anti-hedging/anti-pledging insider trading policy .
- Item 404: No related-party transactions for Casey were disclosed in connection with his appointment .
Investment Implications
- Alignment: Large unvested RSU position (≈1.03M units at 12/31/24) and formulaic bonus metrics (revenue and non-GAAP operating income) align incentives with topline growth and operating discipline; anti-hedging/pledging and clawback bolster governance .
- Retention risk: Quarterly RSU vesting through 2027 and double-trigger CoC acceleration are strong retention levers; severance provides moderate downside protection (0.5x salary outside CoC; 1x salary + 1x target bonus + full acceleration in CoC) .
- Near-term selling pressure: Quarterly vesting (~93.8k shares per quarter) can create periodic supply, tempered by trading windows and compliance policies .
- Execution: Prior IPO/M&A experience is additive for capital markets and strategic transactions; 2024 financials indicate a platform for disciplined growth (+8% revenue, +11% ARR), but stock-based TSR context shows the importance of sustained execution to rebuild market confidence .