Jennifer Porter
About Jennifer Porter
Jennifer Porter is Chief Marketing and eCommerce Officer at Arhaus, Inc., serving since September 2019. She leads global marketing strategy, Arhaus.com eCommerce, and Corporate Social Responsibility; previously she was Head of Marketing at Anthropologie (2018–2019) and held senior marketing roles at Forever 21 (2014–2018) . In 2024, Arhaus generated net income of $69 million and adjusted EBITDA of $133 million, while the AIP paid zero due to adjusted EBITDA below threshold; PSUs for the 2022–2024 cycle paid at 110.27% of target . Company “Pay vs Performance” shows cumulative TSR values consistent with a $100 investment ending at $76.17 (2022), $92.58 (2023), and $75.97 (2024) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Anthropologie | Head of Marketing | 2018–2019 | Led brand marketing across channels |
| Forever 21 | Head of Marketing; Director of Global Marketing; Director of International Marketing | 2014–2018 | Senior leadership in global and international marketing |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Anthropologie | Head of Marketing | 2018–2019 | Scaled campaign strategy for a global specialty retailer |
| Forever 21 | Head/Director-level Marketing roles | 2014–2018 | Supported international growth and omnichannel initiatives |
Fixed Compensation
| Metric (USD) | 2024 |
|---|---|
| Base Salary | $482,040 |
| Target Bonus % of Salary | 50% |
| Actual AIP Bonus Paid | $0 (Adjusted EBITDA below threshold; demand at target) |
| All Other Compensation | $113,829 (LTD premiums, 401(k) match, service award, dividend equivalents) |
Performance Compensation
Annual Incentive Plan (AIP) – 2024 Outcome
| Metric | Weighting | Target | Actual | Payout |
|---|---|---|---|---|
| Adjusted EBITDA (before bonus) | Matrix-based (not disclosed) | Committee-established | Below threshold | 0% of Target Incentive |
| Demand | Matrix-based (not disclosed) | Target achieved | Target achieved | 0% overall due to EBITDA miss |
| Threshold / Maximum mechanics | — | 25% / 200% of Target Incentive | — | — |
Long-Term Incentive – 2024 Grants (PSUs & RSUs)
| Grant Date | Instrument | Metric(s) | Weighting | Target Award (#) | Vesting / Performance Period | Payout Range |
|---|---|---|---|---|---|---|
| 4/12/2024 | PSUs | Cumulative Demand Revenue; Cumulative Adjusted EBITDA | 50% / 50% | 13,613 | 1/1/2024–12/31/2026; settle post-certification | 0%–200% of target |
| 4/12/2024 | RSUs | Service-based | — | 4,538 | Vest 1/3 annually starting 4/12/2025 | N/A |
PSU Settlement – 2022–2024 Cycle (Granted 2022)
| Metric | Target Performance Achieved | Payout vs Target | Shares Vested (Jennifer Porter) |
|---|---|---|---|
| Cumulative Demand Revenue (50%) | 102.14% | 108.55% | — |
| Cumulative Adjusted EBITDA (50%) | 103.00% | 111.98% | — |
| Total PSU Outcome | — | 110.27% | 41,352 shares (Target 37,500) |
Equity Vesting Realized – 2024
| Equity Type | Shares Vested (#) | Value Realized on Vesting (USD) |
|---|---|---|
| RSUs/PSUs (aggregate) | 133,732 | $1,493,758 (pre-tax) |
Equity Ownership & Alignment
| Ownership Snapshot (as of 3/17/2025) | Amount |
|---|---|
| Class A Shares Beneficially Owned | 469,720 (<1% outstanding) |
| Unvested PSUs (not in beneficial tally) | 34,670 |
| Unvested RSUs (not in beneficial tally) | 464,376 |
| Company Policy on Hedging/Pledging | Hedging and pledging prohibited for officers/directors |
Outstanding Equity Awards at 12/31/2024 (Jennifer Porter)
| Grant Date | Type | Unvested Units (#) | Market Value ($9.40/sh) | Vesting Details |
|---|---|---|---|---|
| 8/2/2022 | RSUs | 4,166 | $39,160 | 3 equal annual installments starting 8/2/2023 |
| 3/10/2023 | PSUs (target) | 21,057 | $197,936 | 100% vest 12/31/2025; 0–200% payout |
| 3/10/2023 | RSUs | 4,679 | $43,983 | 3 equal annual installments starting 3/10/2024 |
| 11/9/2023 | RSUs | 33,333 | $313,330 | 3 equal annual installments starting 11/9/2024 |
| 4/12/2024 | PSUs (target) | 13,613 | $127,962 | 100% vest 12/31/2026; 0–200% payout |
| 4/12/2024 | RSUs | 4,538 | $42,657 | 3 equal annual installments starting 4/12/2025 |
Employment Terms
| Term | Detail |
|---|---|
| Start/Offer | Offer letter dated July 22, 2019; start no later than Sep 16, 2019 |
| Employment Agreement | Chief Marketing Officer Agreement dated July 22, 2019 |
| Severance (Qualifying Termination) | Lump sum equal to 50% of the greater of $300,000 or highest base salary; plus lump sum equal to 6 months COBRA; subject to release |
| “Good Reason” definition | Reduction in base/bonus potential; diminished benefits vs peer execs; material diminution in duties; forced relocation beyond 50 miles of Boston Heights, OH |
| Change-in-Control Treatment | RSUs: full vesting if not assumed/substituted; or if terminated without Cause within 60 days before/24 months after CIC; PSUs: if not assumed/substituted, vest at greater of target or performance; if terminated without Cause within 60 days before/24 months after CIC, earned at greater of target or actual performance |
| Clawback | Dodd-Frank compliant recoupment policy effective Oct 3, 2023; restatement did not impact compensation metrics, no recovery required |
Compensation Committee Analysis
- Consultant: Aon plc engaged as independent compensation consultant; inputs include market/peer practices .
- Peer Group (2024 review): Beyond, RH, Capri, Sleep Number, Ethan Allen, Tapestry, Floor & Decor, Tempur Sealy, Havertys, Aaron’s, La-Z-Boy, Lovesac, Movado, RealReal, Oxford Industries, Vera Bradley, Purple Innovation, Williams-Sonoma .
- Say-on-Pay outcomes: 2024 approval ~98% ; 2025 advisory vote approved (For 909,938,353; Against 1,613,000; Abstain 12,928; broker non-votes 5,871,531) .
Performance & Track Record
| Company Performance Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Net Income (USD mm) | $137 | $125 | $69 |
| Adjusted EBITDA (USD mm) | $223 | $203 | $133 |
| TSR – $100 Investment (Value) | $76.17 | $92.58 | $75.97 |
Additional 2024 operating context: Net revenue $1,271 million; adjusted EBITDA $133 million; Q4 demand comparable growth 5.7%; full-year demand comparable growth (2.2%); 103 showrooms at year-end .
Equity Ownership & Alignment (Detail)
| Element | Status |
|---|---|
| Ownership as % of outstanding | <1% of common stock |
| Vested vs Unvested | Significant unvested RSUs and PSUs outstanding (see table above) |
| Pledging/Hedging | Prohibited for officers/directors; reduces misalignment risk |
| Ownership guidelines | Not disclosed in proxy (no executive ownership multiple provided) — |
Employment & Contracts (Retention Risk)
| Factor | Assessment |
|---|---|
| Severance economics | 6 months base salary equivalent and COBRA; modest relative to peers; CIC equity protection standard “double-trigger” mechanics for RSUs/PSUs |
| Non-compete/Non-solicit | Not disclosed — |
| Tenure in role | Since Sep 2019; continuity across multi-year brand expansion and eCommerce scaling |
| Clawback exposure | Policy active; no recovery triggered by 2023 Q3 restatement |
Risk Indicators & Red Flags
- AIP paid zero in 2024 due to EBITDA miss, indicating discipline in pay-for-performance and potential morale/retention considerations .
- Insider policies prohibit hedging and pledging; mitigates misalignment risk .
- Related party leases exist with Founder entities, but no Jennifer Porter-related transactions disclosed .
- CFO transition in early 2025 (Phillipson resigned; Michael Lee appointed) noted; no direct adverse disclosure tied to marketing/eCommerce function .
Investment Implications
- Near-term selling pressure could cluster around RSU vest dates (3/10, 11/9, 4/12 annually) and PSU settlement dates (12/31/2025 and 12/31/2026), subject to trading windows and individual elections; absence of pledging/hedging reduces forced-sale risk .
- Strong alignment via sizable unvested equity and PSU performance linkage to demand and adjusted EBITDA suggests incentives tied to growth and profitability; 2022–2024 PSU payout above target evidences execution against multi-year goals .
- Pay structure shows disciplined cash vs equity mix: base ~$482k, 50% AIP target with zero payout in 2024; long-term awards dependent on multi-year performance, aligning with shareholder value creation .
- Governance signals supportive: high say-on-pay approval (~98% in 2024; overwhelming approval in 2025), independent consultant, defined peer set; clawback in place .