Michael Akkerman
Digital TurbineAbout Michael Akkerman
Michael Akkerman, age 40, is Chief Business Officer (CBO) of Digital Turbine (APPS), appointed June 3, 2024. He holds a Bachelor’s Degree in Psychology and History from the University of New South Wales and has led product, revenue, and partnerships at Uber, data.ai, Cardlytics, and Pinterest . Under his tenure, company performance improved with FY26 Q2 revenue up 18% YoY and adjusted EBITDA up 78% YoY, following FY25 quarter results that showed stabilization and improved execution . Pay-versus-performance disclosures show FY25 net revenue of $490.5M, adjusted EBITDA of $72.3M, and TSR of $62.99 (value of initial $100 investment) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Uber Technologies Inc. | GM, Advertising (Rider Mobility Ads) | Apr 2023–Jun 2024 | Led strategy for emerging mobility advertising; scaled global ride-hailing app monetization |
| data.ai | Chief Revenue Officer & Product Consultant | Jun 2022–Jan 2023 | Drove revenue/product optimization for mobile and digital performance analytics |
| Beach Road Consulting | CEO & Principal Consultant | May 2022–Apr 2023 | Commercial strategy and product management consulting |
| Cardlytics, Inc. | Chief Product & Strategy Officer | Dec 2019–May 2022 | Built data-driven advertising products reaching large FI user bases |
| Pinterest, Inc. | Global Head of Partnerships | Jul 2015–Dec 2019 | Managed and grew 130+ tech partners across commerce, data, measurement, ads |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Not disclosed | — | — | No public company directorships or committee roles disclosed in company filings |
Fixed Compensation
| Component | FY2025 | FY2026 | Notes |
|---|---|---|---|
| Base Salary ($) | $410,000 | $450,000 (increase for performance, pay equity) | At-will arrangement |
| Target Annual Bonus (% of Salary) | 100% (pro-rated for FY2025 due to June start) | 100% | CBO weighting: 40% Revenue, 40% Adjusted EBITDA, 20% Committee discretion |
| Signing Bonus ($) | $37,000 (clawback if voluntary resignation/termination for cause within 1 year) | — | Paid at start date |
Performance Compensation
| Metric | Weighting | Target | Actual FY2025 Payout | Vesting |
|---|---|---|---|---|
| Revenue (Company) | 40% (CBO) | Board-approved annual plan | No payout (threshold not met; pro-rated eligibility) | Annual cash bonus (two-tranche plan adopted for FY2026 on EBITDA-only for company-wide plan) |
| Adjusted EBITDA (Company) | 40% (CBO) | Board-approved annual plan | No payout (threshold not met) | Annual cash bonus |
| Discretionary | 20% (CBO) | Committee discretion | Not paid for FY2025 | Annual cash bonus |
| PSUs (FY2026 grant) | Two-thirds on 3-yr Operating Plan (Revenue & Adj. EBITDA); One-third on 3-yr Growth targets (Revenue & Adj. EBITDA) | Threshold/Target/Stretch (50%/100%/200%) | Not yet determined (3-year performance period) | Earned on 3rd anniversary post certification; linear interpolation between targets |
Equity Awards and Vesting
| Award Type | Grant Date | Shares/Units | Exercise Price | Vesting Schedule | Grant-Date Fair Value ($) |
|---|---|---|---|---|---|
| RSUs (New Hire) | Jun 3, 2024 | 428,571 | — | Equal quarterly installments over 2 years from start date (through Jun 3, 2026) | $750,000 |
| Stock Options (Contingent New Hire) | Jun 3, 2024 | 625,000 | $1.75 | Equal quarterly installments over 2 years from start date (through Jun 3, 2026) | $750,000 |
| PSUs (Annual FY2026 LTI) | May 23, 2025 | 137,615 | — | Vests on 3rd anniversary based on 3-yr Operating Plan and Growth targets (Revenue & Adj. EBITDA) with linear interpolation | — |
| Stock Options (FY2026 LTI) | May 23, 2025 | 185,185 | Closing price on May 23, 2025 | One-third at 1st anniversary; remainder quarterly through 3rd anniversary | — |
Equity Ownership & Alignment
| Item | As of | Amount | Notes |
|---|---|---|---|
| Beneficial Ownership (Common) | Jul 2, 2025 | 660,636 shares; <1% of class | Table includes vested and unvested RSUs for executives (proxy methodology) |
| Outstanding RSUs (unvested) | Mar 31, 2025 | 267,857 units; market value $728,571 | Based on NASDAQ closing price $2.72 on Mar 31, 2025 |
| Options (exercisable/unexercisable) | Mar 31, 2025 | 234,375 exercisable; 390,625 unexercisable; $1.75 strike | Option values reflected in severance tables below |
| Stock Ownership Guidelines | — | CEO 5x salary; COO 2x salary (executive guidelines disclosed) | No explicit guideline disclosed for CBO |
| Hedging/Pledging Policy | — | Hedging and short sales prohibited; pledging generally prohibited except limited collateral scenarios with ability to repay without pledged securities | Proxy ownership table does not flag pledged shares for Akkerman |
| Clawback Policy | Nov 2023 | Mandatory recoupment of excess incentive compensation upon accounting restatement (NASD/SEC compliant) | Applies to officers for incentives received on/after Oct 2, 2023 |
Employment Terms
| Provision | Key Terms | Source |
|---|---|---|
| At-Will + Start Date | At-will; start date Jun 3, 2024 | |
| Bonus Eligibility | Up to 100% of base, pro-rated in FY2025; CBO weighting 40% Revenue/40% Adjusted EBITDA/20% discretion | |
| Severance (No Cause/Good Reason) | 12 months salary; COBRA premiums (company-paid equivalent); pro-rated annual bonus; accelerated vesting of options/RSUs to end of quarter (for Akkerman) | |
| Change-of-Control + Termination | 18 months salary; COBRA; full acceleration of unvested RSUs/PSUs; options vest to extent having value | |
| Non-Compete/Non-Solicit | Customary provisions in employment agreement | |
| Good Reason/Cause Definitions | Detailed cure standards; material diminution; reporting structure changes; failure to pay amounts due; fraud/misconduct |
Severance Illustrations (as of March 31, 2025)
| Scenario | Salary Continuation ($) | Health Plan Payments ($) | Accelerated Vesting Value ($) |
|---|---|---|---|
| Termination without Cause / Good Reason | 410,000 | 18,373 | 106,974 (Options $63,459; RSUs $43,515) |
| Termination in Connection with Change-of-Control | 615,000 | 27,560 | 1,107,477 (includes full vesting of RSUs/PSUs) |
Company Performance Context (during Akkerman’s tenure)
| Metric | Q3 FY2024 | Q3 FY2025 | Notes |
|---|---|---|---|
| Revenue ($MM) | 142.6 | 134.6 | -6% YoY; sequential +13% QoQ cited in release |
| Adjusted EBITDA ($MM, Non-GAAP) | 25.4 | 22.0 | -14% YoY |
| Metric | Q2 FY2025 | Q2 FY2026 | Notes |
|---|---|---|---|
| Revenue ($MM) | 118.7 | 140.4 | +18% YoY |
| Adjusted EBITDA ($MM, Non-GAAP) | 15.3 | 27.2 | +78% YoY |
Compensation Committee & Peer Benchmarking
- FY2025 peer group (13 companies): Cardlytics, Domo, Entravision, EverQuote, MediaAlpha, Outbrain, PubMatic, QuinStreet, System1, Thryv, Upland, Viant, Yext .
- Compensation consultant: Pearl Meyer engaged; committee held 13 meetings in FY2025 .
- Say-on-Pay approval: 87% at prior annual meeting .
Investment Implications
- Pay-for-performance linkage: CBO bonus structured 80% on revenue and adjusted EBITDA with no FY2025 payout, aligning incentives to top- and bottom-line outcomes; FY2026 PSUs tie multi-year vesting to revenue and EBITDA, enhancing long-term alignment .
- Retention and selling pressure: Significant quarterly RSU and option vesting through June 2026 plus FY2026 option tranches (one-third at May 2026, then quarterly) may create periodic liquidity events; PSU outcomes hinge on three-year targets and certification in 2028 .
- Ownership alignment: Beneficial ownership of 660,636 shares (proxy methodology includes unvested RSUs); no pledged shares flagged; hedging/pledging restricted by policy and clawback in place, reducing misalignment risk .
- Downside protection: Severance provides salary continuation and limited acceleration (to quarter-end) outside change-of-control; full acceleration upon change-of-control underscores retention but introduces potential transaction-related payout obligations .
- Execution track record: Since his appointment, company reported accelerating growth and EBITDA momentum (Q2 FY2026), consistent with commercial leadership focus on monetization and on-device/app growth platforms .