Mark Dorsey
APPIANAbout Mark Dorsey
Appian’s Chief Revenue Officer since October 2024; age 56; B.S. in Interdisciplinary Studies (Boston University) and M.B.A. (Boston College) . Company performance context around/after his arrival: FY2024 total revenue $617.0M; subscriptions revenue $490.6M (+19% YoY); cloud subscription retention 116%; GAAP net loss $(92.3)M; Adjusted EBITDA $20.3M (vs $(44.8)M in 2023) . In 9M’25, Appian generated GAAP net income of $6.3M (vs $(78.6)M in 9M’24) and Adjusted EBITDA of $57.1M (vs $(1.0)M in 9M’24) . 2024 total shareholder return (fixed $100 base) was $86.31 vs $304.86 for the NASDAQ Computer Index peer group .
Past Roles
| Organization | Role | Years | Strategic impact (as disclosed) |
|---|---|---|---|
| Alteryx | SVP Sales, Americas | Oct 2023–prior to joining Appian in Oct 2024 | Senior sales leadership for Americas go‑to‑market |
| Oracle | Senior sales leadership (incl. SVP Cloud Sales 2019–Oct 2023) | 2016–2023 | Cloud sales leadership roles (scaled enterprise cloud sales) |
| Bank of America Merchant Services | EVP, GM, Head of Sales Small Business | 2015–2016 | Led SMB sales within merchant services |
External Roles
- No external directorships or committee roles were disclosed in the latest proxy for Mr. Dorsey .
Fixed Compensation
- Not disclosed for Mr. Dorsey in the 2024 Named Executive Officer (NEO) compensation tables (he was not listed as an NEO for 2024) .
Performance Compensation
- Company bonus construct for senior executives (context for CRO incentives): the 2024 Senior Executive Cash Incentive Bonus Plan tied payouts to (1) total software annual contract value growth and (2) executive alignment with corporate strategy; bonus percentages for executives could not exceed the percentage payable to non‑NEO eligible employees .
- Equity program: RSUs are primary long‑term incentives; grants are periodic, with straight‑line or annual‑installment vesting; the company does not use a peer group for setting pay and emphasizes at‑risk pay elements .
- 2025 bonus-to-RSU election program: eligible employees could elect to receive all/part of 2025 bonuses in the form of fully‑vested RSUs granted in 1Q26; the company expensed $1.4M (3Q25) and $4.3M (9M25) related to this program .
Detailed metric table (company program context):
| Metric | Weighting | Target | Actual | Payout | Vesting/Timing |
|---|---|---|---|---|---|
| Total software annual contract value (ACV) growth | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Annual cash (option to elect 2025 bonus as fully‑vested RSUs in 1Q26 for eligible employees) |
| Executive alignment with corporate strategy | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Annual cash (same election option as above) |
Note: The proxy does not break out Mr. Dorsey’s specific target/actual metrics or payouts; table reflects company‑level plan design and 2025 RSU election mechanism .
Equity Ownership & Alignment
- Beneficial ownership: The 2025 proxy enumerates directors and NEOs; Mr. Dorsey is not listed individually, and his beneficial ownership is not separately disclosed; the group total for all current directors, director nominees, executive officers, and NEOs (12 persons) is 31,931,344 shares (43.0%) .
- Stock ownership policy and pledging: Appian does not maintain executive stock ownership requirements and does not prohibit pledging; insider trading policy prohibits short sales, options, and hedging transactions .
- Plan mechanics: Equity plans do not include automatic acceleration upon change in control; unvested RSUs are forfeited on termination (subject to any individual agreements) .
Ownership/Policy snapshot:
| Item | Detail |
|---|---|
| Mr. Dorsey – individual beneficial ownership | Not disclosed in DEF 14A |
| Ownership guidelines | None for NEOs; no prohibition on pledging |
| Hedging/derivatives | Prohibited (shorts, options, hedges, margin) |
| CIC vesting | No automatic acceleration in equity plans |
Potential selling pressure signals:
- Fully‑vested RSUs in 1Q26 for those who elect the 2025 bonus‑in‑RSUs could create near‑term liquidity/supply upon grant; applicability to Mr. Dorsey is not specifically disclosed .
Employment Terms
| Term | Mr. Dorsey |
|---|---|
| Start date/tenure | CRO since October 2024 |
| Employment agreement | The proxy discloses standard agreements (with non‑competition, confidentiality, IP) for certain executives, plus tailored agreements for some NEOs; no specific agreement terms for Mr. Dorsey are disclosed |
| Severance/CIC | Companywide: no single‑trigger CIC payments; no automatic equity acceleration in plan terms; only certain executives (e.g., Mr. Winters) have specific CIC severance provisions disclosed; none specific to Mr. Dorsey are disclosed |
| Clawback | Company recoups incentive comp upon a restatement under Rule 10D‑1/Nasdaq; applies to executive officers |
| Non‑compete / non‑solicit | Standard employment agreement includes non‑competition and related covenants; Mr. Dorsey‑specific terms not disclosed |
Performance & Track Record
Company results around his tenure:
| Period | GAAP Net Income (Loss) ($000s) | Adjusted EBITDA ($000s) |
|---|---|---|
| Nine months ended Sep 30, 2024 | (78,615) | (967) |
| Nine months ended Sep 30, 2025 | 6,336 | 57,110 |
Additional FY2024 context: revenue $617.0M; subscriptions revenue $490.6M (+19% YoY); retention 116%; Adjusted EBITDA $20.3M; GAAP net loss $(92.3)M . TSR in 2024: $86.31 (vs NASDAQ Computer Index $304.86) on a $100 base .
Compensation Structure Analysis (governance and alignment signals)
- At‑risk pay emphasis; no stock option repricing; no single‑trigger CIC; no automatic acceleration; annual say‑on‑pay; clawback in place .
- No executive ownership requirements and no pledging prohibition—potential alignment red flag; CEO and certain directors have pledged shares per footnotes, illustrating permissive stance (note: not specific to Mr. Dorsey) .
- Company added optional “bonus‑in‑RSU” program for 2025 with fully‑vested grants in 1Q26—can increase short‑term sellable supply upon grant .
- As a “controlled company,” only four of nine board nominees are independent; compensation and governance levers may be less constrained than typical Nasdaq standards, which can influence pay design and oversight .
Say‑on‑Pay & Shareholder Feedback
- Say‑on‑pay approved with over 95% support at the 2024 Annual Meeting .
Expertise & Qualifications
- Education: B.S. (Boston University); M.B.A. (Boston College) .
- Functional expertise: enterprise cloud sales leadership (Oracle), Americas field leadership (Alteryx), SMB sales leadership (BAMS) .
Investment Implications
- Incentive alignment: The senior executive bonus framework tied to ACV growth and strategic alignment fits a CRO mandate; however, the proxy does not disclose Mr. Dorsey’s specific targets/weights or realized payouts, limiting pay‑for‑performance assessment for him specifically .
- Retention risk: Absence of disclosed Mr. Dorsey‑specific severance or CIC terms and the company’s lack of ownership requirements could lessen retention “hooks,” though the companywide clawback and at‑risk pay design partially counterbalance this; specific equity grants/vesting for Mr. Dorsey are not disclosed in the proxy .
- Trading/supply dynamics: The 2025 bonus‑to‑RSU election (fully vested upon 1Q26 grant) can create near‑term supply; monitoring any Form 4 activity by Mr. Dorsey around grant/vesting dates is advisable .
- Governance context: Controlled‑company status and permissive pledging elevate governance risk; say‑on‑pay support remains high, indicating current investor tolerance of program design .
- Execution backdrop: Company‑level profitability metrics improved meaningfully in 2025 YTD, offering a constructive setup for revenue leadership; attribution to Mr. Dorsey requires caution given limited executive‑specific disclosures .