Anne Raimondi
Chief Operating Officer at ASAN
Executive
About Anne Raimondi
Anne Raimondi is Chief Operating Officer at Asana, serving since August 2021 after previously acting as Lead Independent Director (Dec 2019–Aug 2021) and board member (Feb 2019–Aug 2021). She holds a B.A. in economics and sociology and an M.B.A. from Stanford University and is 53 years old . As context for incentive alignment during her tenure, Asana reported FY2025 revenue of $723.9M (+11% YoY) with FY2025 TSR of 21%, while cumulative TSR since the September 2020 direct listing was -21%; FY2025 net income was -$255.5M .
Past Roles
| Organization | Role | Years | Strategic impact (as disclosed) |
|---|---|---|---|
| Zendesk, Inc. | SVP Strategy; SVP Operations; VP People Ops | 2013–2017 | Senior leadership roles scaling operations at a customer service platform provider |
| Guru Technologies, Inc. | Chief Customer Officer | 2019–2021 | Led customer function at a knowledge management company |
| Asana, Inc. | Lead Independent Director; Director | 2019–2021 (LID: 2019–2021) | Board leadership prior to joining management |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Gusto, Inc. (private) | Director | Current | Asana recognized $0.5M of revenue from Gusto subscriptions in FY2025 (related-party) |
| Patreon, Inc. (private) | Director | Current | Private company board role |
| SendGrid, Inc. | Director | 2018–2019 | Prior public-company board |
| Bloc, Inc. | Director | 2017–2018 | Prior private-company board |
Fixed Compensation
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Base Salary ($) | 745,833 | 750,000 | 750,000 |
| Target Annual Bonus (%) | n/a (no STI program for NEOs) | n/a (no STI program for NEOs) | n/a (no STI program for NEOs) |
| Actual Annual Bonus ($) | n/a | n/a | n/a |
Notes: Asana does not pay short‑term incentive bonuses to NEOs; compensation is base salary plus long‑term equity .
Performance Compensation
- Program structure: Long-term incentives are time-based RSUs under the 2020 Equity Incentive Plan; no PSUs or options were granted to Raimondi in FY2023–FY2025 .
| Incentive | Metric | Weight | Target | Actual/Payout | Vesting |
|---|---|---|---|---|---|
| Annual LTI (RSUs) | Service-based vesting (continued employment) | 100% of LTI | Grant value set by Compensation Committee | Shares vest per schedule; value varies with stock price (no performance metric) | FY2025 grant: 325,252 RSUs, vest 1/16 quarterly beginning 6/20/2024 |
| Annual cash bonus | n/a | 0% | n/a | n/a | n/a (no STI program) |
Detailed RSU grants:
- 5/23/2024: 325,252 RSUs; vests 1/16 quarterly beginning 6/20/2024 .
- 5/23/2023: 198,171 RSUs; vests 1/16 quarterly beginning 6/20/2023 .
Shares vested in FY2025: 165,155 shares vested (mix of held and freely issuable), indicating ongoing quarterly supply from vesting cadence .
Equity Ownership & Alignment
| Ownership detail | Amount | Notes |
|---|---|---|
| Beneficial ownership – Class A shares | 289,532 | Direct ownership as of 3/31/2025 |
| Vested RSUs subject to holding period | 58,967 | Vested but not yet delivered under mandatory holding rules |
| Unvested RSUs (total) | 410,339 | 19,684 (11/16/2021); 14,916 (3/10/2022); 111,471 (5/23/2023); 264,268 (5/23/2024) |
| Market value of unvested RSUs ($) | 8,756,634 | Based on $21.34 close on 1/31/2025 (Asana Class A) |
| Options – exercisable / unexercisable | — / — | No option holdings disclosed for Raimondi |
Ownership policy and alignment:
- Stock ownership guidelines: Executives (ex-CEO) must hold ≥3× base salary by Feb 28, 2029 or 5th anniversary in role .
- Hedging/pledging: Prohibited; no margin or pledging allowed under Asana policy .
- Clawback: Dodd‑Frank compliant clawback adopted May 2023 .
- 10b5‑1 trading plans: Allowed under policy with cooling-off and preset instructions .
Compliance indication: Using 289,532 shares and the 1/31/2025 close ($21.34), Raimondi’s holdings approximate $6.18M, exceeding 3× salary ($2.25M), suggesting she meets the guideline based on that date’s price (value input from $21.34 and share count above) .
Employment Terms
- Offer letter: At‑will employment; standard confidential information and invention assignment; role as COO since Aug 2021 .
- Executive Severance and Change in Control Plan (double-trigger in CIC) :
- Termination outside CIC period: Lump sum equal to one‑third of (base salary + target bonus, if applicable) and four months of company health premium contributions; pro‑rata acceleration of one‑year cliff segments on time‑based equity .
- Termination within CIC period (double-trigger): Lump sum equal to (base salary + target bonus, if applicable) plus pro‑rated target bonus; 12 months of company health premium contributions; equity acceleration by tranche based on time-to-vest (100% if <4 years; 50% if 4–6 years; 25% if >6 years); performance awards (if any) at target .
- Non-assumption of awards in a corporate transaction: Full acceleration if awards are not assumed/substituted .
Anne Raimondi—illustrative payout values if event occurred 1/31/2025:
| Scenario | Accelerated Equity ($) | Base Salary + Target Bonus ($) | Health Premiums ($) |
|---|---|---|---|
| Corporate Transaction (awards not assumed) | 8,756,634 | — | — |
| Termination outside CIC period | — | 250,000 | 13,303 |
| Termination within CIC period | 8,756,634 | 750,000 | 39,910 |
Compensation Committee, Peer Group, and Say‑on‑Pay
- Committee composition (FY2025): Krista Anderson‑Copperman (Chair), Marc Boroditsky, Sydney Carey; independent; Compensia serves as independent consultant .
- Peer group used for FY2025 decisions (selected SaaS comps within size screens): Alteryx, AppFolio, Bill.com, BlackLine, Braze, Confluent, DigitalOcean, Elastic, Fastly, Five9, Freshworks, GitLab, HashiCorp, nCino, PagerDuty, Procore, Qualys, Smartsheet, Sprout Social, Workiva .
- Governance practices: No tax gross‑ups for CIC; anti‑hedge/pledge; no repricing without shareholder approval .
- Say-on-Pay support: 99% “FOR” in 2024; committee retained structure (base + time‑based equity) .
Related Party Transactions (governance signal)
- Asana recognized $0.5M of revenue from Gusto (where Raimondi is a director) in FY2025; transactions did not exceed related thresholds noted and are reviewed under related‑party policy .
Performance Context
| Metric | FY2024 | FY2025 |
|---|---|---|
| Revenue ($M) | 652.5 | 723.9 |
| TSR (%) | 12 | 21 |
| Net Income ($M) | -257.0 | -255.5 |
Organizational developments: CFO transition in Sept 2024; CEO succession plan announced March 2025 (CEO to transition after successor appointment; remains Chair), factors that may introduce execution risk during leadership changes .
Investment Implications
- Pay‑for‑performance alignment: Raimondi’s at‑risk pay is entirely time‑based RSUs; there are no explicit financial/operational performance metrics (no STI; no PSUs). This emphasizes long‑term stock exposure but offers limited direct linkage to near‑term operating goals .
- Supply/vesting overhang: Quarterly vesting at 1/16 of large grants (e.g., 325,252 RSUs from 5/23/2024) plus prior awards produced 165,155 shares vested in FY2025, implying recurring potential selling pressure each quarter as shares settle and tax withholding occurs .
- Alignment and risk controls: High share ownership, anti‑hedging/pledging, and a Dodd‑Frank clawback strengthen alignment and mitigate risk; ownership appears to exceed 3× salary requirement based on disclosed holdings and period-end price .
- Change‑in‑control economics: Standard double‑trigger with tiered equity acceleration; outside CIC, cash cost is modest (one‑third of salary+bonus construct) but equity acceleration can be significant if awards are not assumed/substituted in a transaction .
- Execution risk: Leadership transitions (CFO in 2024; CEO succession in 2025) increase operational execution risk near‑term; however, FY2025 TSR was positive and revenue grew 11% YoY, while losses remain material .
Appendix: Multi‑Year Compensation (Anne Raimondi)
| Component | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Salary ($) | 745,833 | 750,000 | 750,000 |
| Stock Awards (Grant‑date Fair Value, $) | 3,280,199 | 4,137,810 | 4,794,214 |
| Total ($) | 4,026,032 | 4,887,810 | 5,544,214 |
Appendix: Raimondi Outstanding and Deferred Equity
| Item | Quantity/Value |
|---|---|
| Unvested RSUs by grant (shares): 11/16/2021; 3/10/2022; 5/23/2023; 5/23/2024 | 19,684; 14,916; 111,471; 264,268 |
| Market value of all unvested RSUs at $21.34 (1/31/2025) | $8,756,634 |
| Nonqualified deferred comp (holding period RSUs): FY2025 executive contributions; aggregate balance | $842,562; $1,165,762 |
All data above are sourced from Asana’s 2025 and 2024 DEF 14A proxy statements, 2025 Form 10‑K, and 8‑K filings as cited.