Srdjan “Serge” Tanjga
APPIANAbout Srdjan “Serge” Tanjga
Appian appointed Srdjan “Serge” Tanjga as Chief Financial Officer effective May 27, 2025; age 46; he holds a B.A. in Mathematics and Economics from Harvard College and an MBA from Harvard Business School (Baker Scholar) . He previously served as Interim CFO at MongoDB (from February 2025), Senior Vice President, Finance (Feb 2021–Feb 2025), and VP of Finance & Business Operations (May 2019–Feb 2021) . Company performance context: FY2024 total revenue was $617.0M, subscriptions revenue grew 19% YoY to $490.6M, adjusted EBITDA turned positive to $20.3M from a $(44.8)M loss in FY2023 ; in Q1 2025 total revenue grew 11% YoY to $166.4M, adjusted EBITDA was $16.8M, and operating cash flow was $45.0M .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| MongoDB | Interim Chief Financial Officer | Feb 2025–May 2025 | Principal finance leadership during transition |
| MongoDB | SVP, Finance | Feb 2021–Feb 2025 | Led FP&A, strategic finance, business ops, analytics |
| MongoDB | VP, Finance & Business Operations | May 2019–Feb 2021 | Built finance/business ops capabilities |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Emerging Sovereign Group (Carlyle subsidiary) | Managing Director | Not disclosed | Investment and finance leadership (as disclosed) |
| Harvard Management Company | Leadership positions | Not disclosed | Institutional investing/finance (as disclosed) |
| 40 North Industries | Leadership positions | Not disclosed | Corporate finance/operations (as disclosed) |
Fixed Compensation
| Component | 2025 Terms | Notes |
|---|---|---|
| Base Salary | $750,000 | Per offer letter dated April 16, 2025 |
| Target Annual Bonus % / Amount | $450,000 target under Senior Executive Cash Incentive Bonus Plan | Board retains discretion on modifications |
Performance Compensation
| Incentive Type | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Annual Cash Bonus | Company performance under Senior Executive Cash Incentive Bonus Plan | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Annual determination; plan aligns pay with corporate objectives |
| Annual PSUs | Performance stock units | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Four-year vest; first 25% vests immediately upon grant |
| Annual RSUs | Time-based restricted stock units | Not applicable | Not applicable | Not applicable | Not applicable | Four-year vest |
Equity Award Terms (Grants and Vesting)
| Award | Grant Value | Vesting Details | Frequency |
|---|---|---|---|
| Sign-on RSUs | $5,000,000 | Four-year vest (standard annual tranches) | One-time at hire, subject to Board approval |
| Annual RSUs | $1,500,000 per year | Four-year vest | Recurring annual |
| Annual PSUs | $1,500,000 per year | Four-year vest; first 25% vests immediately upon grant | Recurring annual |
Equity Ownership & Alignment
- Beneficial ownership: Tanjga was appointed after the ownership record date (March 31, 2025); thus he does not appear in the FY2025 proxy’s beneficial ownership table .
- Stock ownership guidelines: The company does not maintain stock ownership requirements for NEOs .
- Hedging/derivatives policy: Short sales, put/call options, hedging, and margin accounts are prohibited under Appian’s insider trading policy .
- Pledging: The company does not prohibit pledging stock; current policy notes no prohibitions on pledging .
Employment Terms
| Term | Provision | Details |
|---|---|---|
| Employment status | At-will | Offer letter and employment agreement |
| Severance (Change of Control) | Double-trigger | If terminated without cause or resigns for good reason immediately prior to or within six months post CoC: (i) six months’ salary, (ii) acceleration of any unvested equity, (iii) up to six months COBRA premiums |
| Equity plan acceleration | No automatic plan-level acceleration | 2017/2007 plan terms do not include automatic acceleration upon change of control |
| Clawback | Mandatory recoupment policy | Adopted Oct 2, 2023 per Rule 10D-1/Nasdaq; recover excess incentive pay for material restatements within prior three years |
Company Performance Context
| Metric | FY 2024 | Q1 2025 |
|---|---|---|
| Total Revenue ($USD Millions) | $617.0 | $166.4 |
| Subscriptions Revenue ($USD Millions) | $490.6; +19% YoY | $134.4; +14% YoY |
| Adjusted EBITDA ($USD Millions) | $20.3 | $16.8 |
| Cloud Subscription Revenue Retention Rate (%) | 116% | 112% |
| GAAP Net Loss ($USD Millions) | $(92.3) | $(1.2) |
Compensation Committee and Governance
- Compensation philosophy: Mix of base, short-term cash incentives, and equity; significant pay-at-risk; annual say-on-pay; clawback policy; no single-trigger CoC payments; no option repricing; no automatic acceleration under equity plans .
- Peer group benchmarking: The company does not use a compensation peer group and has no present intention to do so .
- 2024 say-on-pay approval: Over 95% of votes cast in favor ; 2025 vote results: For 322,017,599; Against 425,654; Abstain 41,364; Broker non-votes 5,777,220 .
Related Party Transactions
- No arrangement or understanding leading to his selection; no family relationships; not party to related transactions under Item 404(a) .
- Company disclosed no related person transactions in 2024 beyond specified agreements and Abdiel settlement .
Investment Implications
- Pay-for-performance alignment: Annual bonus tied to corporate objectives under the Senior Executive Cash Incentive Bonus Plan; recurring PSUs introduce performance-linked equity; however, the immediate vesting of 25% of PSUs at grant front-loads realizable compensation and may weaken strict performance contingency at inception .
- Vesting-driven supply risk: The $5M sign-on RSUs and recurring RSU/PSU awards over four years create multi-year vesting events; absent ownership requirements and with pledging permitted, vest-related selling pressure is a risk to monitor around quarterly/yearly vest dates .
- Retention and CoC economics: Double-trigger CoC terms (six months’ salary, equity acceleration, six months COBRA) are moderate vs typical market severance multiples; absence of single-trigger payments reduces windfall risk, while acceleration terms provide retention in strategic transactions .
- Governance signals: Strong say-on-pay support (95%+ in 2024, and overwhelming support in 2025) suggests shareholder acceptance of compensation design; lack of peer benchmarking reduces external pay inflation risk but may complicate competitive calibration over time .
- Execution track record: Prior leadership at MongoDB across FP&A and strategic finance, plus institutional investing roles, align with Appian’s recent shift toward profitability and positive adjusted EBITDA/cash flow trends; investors should watch near-term KPI delivery and capital allocation decisions signed under his tenure (e.g., Q2/Q3 2025 filings and share repurchase authorization) .