Peter Shoebridge
About Peter Shoebridge
Chief Technology Officer at Auddia (AUUD) since 2013; age 60 as of November 22, 2024 . Over 35 years in software development with leadership in internet technologies since 1996; previously CEO/co‑founder of Blue Yonder Gaming (2008–2012) and VP Engineering at Sona Mobile, where his teams built the first wireless gaming system to receive federal regulatory approval . Education: London, England (specific degrees not disclosed) . Company performance context: revenue was zero in Q3 2024 and Q3 2025; net loss increased year-over-year, highlighting execution risk and a continued need for financing . AUUD disclosed going concern risk and reliance on equity facilities in 2025 .
| Metric | Q3 2024 | Q3 2025 |
|---|---|---|
| Revenue ($USD) | $0 | $0 |
| Net Loss ($USD) | $(1,949,428) | $(2,381,151) |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Blue Yonder Gaming Corp. | CEO & Co‑founder | 2008–2012 | Led casino gaming systems; founder‑led execution in regulated gaming |
| Sona Mobile, Inc. | VP Engineering | Not disclosed | Built first wireless gaming system to receive federal regulatory approval; developed server-based gaming platform |
External Roles
No external public company directorships or committee roles disclosed for Shoebridge .
Fixed Compensation
| Component | 2022 | 2023 |
|---|---|---|
| Base Salary ($USD) | $225,000 | $225,000 |
| Target Bonus (%) | 50% of base salary (policy; actual not approved for 2023) | 50% of base salary (policy; actual not approved for 2023) |
| Bonus Paid ($USD) | Not disclosed | $0 (not approved) |
Notes: Executives are eligible for discretionary annual bonuses up to 50% of base salary based on board‑set business goals; no 2023 bonuses were approved or paid .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Annual cash bonus | Not disclosed | Not disclosed | Not disclosed | $0 in 2023 (not approved) | N/A |
| Equity incentives (options/RSUs) | Not disclosed | Not disclosed | Not disclosed | Grant-date values disclosed historically; no PSUs disclosed | See vesting schedules below |
No named performance metrics (e.g., revenue, EBITDA, TSR) are disclosed for executive bonus/equity programs; awards are discretionary or time‑vested .
Equity Ownership & Alignment
| Date | Shares Beneficially Owned | Ownership % | Breakdown / Notes |
|---|---|---|---|
| Nov 22, 2024 | 11,458 | <1% (asterisked) | Includes vested options (exercisable within 60 days) under equity plans |
| Apr 4, 2025 | 674 | <1% | Includes vested options granted under equity incentive plans |
- Stock ownership policy: AUUD’s insider trading policy prohibits derivative transactions (e.g., short sales, puts/calls) by executives/directors, except transactions involving publicly traded Series A Warrants; the policy highlights risks of margin accounts/pledging but does not state an explicit prohibition on pledging .
- 10b5‑1 plans: Permitted under policy when not in possession of MNPI; AUUD reported no officer/director adoption/termination of Rule 10b5‑1 plans during Q3 2025 .
- Clawback: Compensation recoupment policy effective Dec 1, 2023; audit committee reported no recovery obligations over the prior three years .
Outstanding Equity Awards and Vesting Schedules (as of Dec 31, 2023)
| Grant Date | Exercisable Options (#) | Unexercisable Options (#) | Strike ($) | Expiration | Vesting Details |
|---|---|---|---|---|---|
| Aug 15, 2019 | 1,097 | — | $106.50 | Aug 15, 2029 | 50% at grant; remaining equally over 48 months |
| Aug 11, 2021 | 4,500 | 1,500 | $69.75 | Aug 11, 2031 | 50% on Aug 12, 2022; 25% on Feb 16, 2023; 25% on Feb 16, 2024 |
| Sep 8, 2022 | 3,193 | 1,065 | $30.25 | Sep 8, 2032 | 50% on grant; remaining 25% on Feb 16, 2023 and 25% on Feb 16, 2024 |
Employment Terms
| Term | Provision |
|---|---|
| Agreement date | October 13, 2021 (supersedes April 1, 2014 agreement) |
| Role | Chief Technology Officer; reports to CEO |
| Base salary | $225,000 initial |
| Target bonus | Up to 50% of base salary (board‑determined criteria) |
| Severance (without cause / good reason) | 9 months base salary; up to 9 months COBRA reimbursement; any earned but unpaid prior‑year bonus; subject to release |
| Change‑of‑control | Double trigger—if terminated without cause post‑CoC, all unvested stock options accelerate as of CoC effective date or last day of service |
| Non‑compete | 12 months post‑termination; restricted to any material line of AUUD’s business and geographies where AUUD operates |
| Non‑solicit | 12 months; applies to employees, customers, suppliers |
| Non‑disparagement, Proprietary info | Standard provisions; specific performance remedies; indemnification as officer |
| Governing law | Colorado; Section 409A protections |
Investment Implications
- Pay-for-performance alignment: Base pay is modest for a CTO of a micro-cap; bonus is discretionary with no disclosed financial metrics; no 2023 bonuses paid, reflecting tight cash and performance realities . Option-heavy grants with multi-year vesting indicate retention incentives; vesting fully completed for 2021/2022 tranches, while older grants remain outstanding .
- Insider selling pressure/structures: No 10b5‑1 plan changes reported in Q3 2025; policy discourages derivatives and flags risks of margin/pledging, reducing hedging‑related misalignment risk .
- Ownership alignment: Beneficial ownership is <1%—skin‑in‑the‑game is limited in absolute terms; exercisable options contribute to alignment but overall stake is small versus total shares outstanding .
- Retention risk: Employment terms include industry‑standard severance and a double‑trigger vesting on change‑of‑control, improving continuity during strategic transactions; however, AUUD’s going concern disclosures and zero revenue in recent quarters signal execution risk and potential organizational stress that could impact retention .
- Governance and controls: Independent compensation committee oversees programs; company maintains clawback and insider trading policies, but as an emerging growth company, AUUD does not conduct advisory say‑on‑pay votes, limiting direct shareholder feedback mechanisms .
Overall, Shoebridge’s package is structured for retention via time‑vested options and standard severance, with limited explicit pay‑for‑performance metrics. Given AUUD’s current loss profile and financing dependence, equity-driven incentives could prove less effective without clear performance targets and value creation milestones .
Citations:
- Biography, age, officer since: **[1554818_0001683168-24-008393_auddia_def14a.htm:12]**
- 2023/2022 compensation and bonus policy: **[1554818_0001683168-24-008393_auddia_def14a.htm:51]**
- Outstanding options and vesting: **[1554818_0001683168-24-008393_auddia_def14a.htm:52]**
- Employment terms and severance: **[1554818_0001683168-21-004863_auddia_ex1002.htm:0]** **[1554818_0001683168-21-004863_auddia_ex1002.htm:2]** **[1554818_0001683168-21-004863_auddia_ex1002.htm:4]**
- Change-of-control acceleration: **[1554818_0001683168-24-008393_auddia_def14a.htm:53]**
- Non-compete/solicit, remedies, indemnification: **[1554818_0001683168-21-004863_auddia_ex1002.htm:5]** **[1554818_0001683168-21-004863_auddia_ex1002.htm:6]** **[1554818_0001683168-21-004863_auddia_ex1002.htm:7]**
- Insider trading policy, 10b5-1, clawback: **[1554818_0001683168-24-008393_auddia_def14a.htm:48]**
- Beneficial ownership (11/22/2024): **[1554818_0001683168-24-008393_auddia_def14a.htm:57]**
- Beneficial ownership (4/4/2025): **[1554818_0001683168-25-002315_auddia_def14a.htm:19]**
- Company performance, revenue/net loss, going concern, financing: **[1554818_0001683168-25-008031_auddia_i10q-093025.htm:4]** **[1554818_0001683168-25-008031_auddia_i10q-093025.htm:10]** **[1554818_0001683168-25-008031_auddia_i10q-093025.htm:32]** **[1554818_0001683168-25-008031_auddia_i10q-093025.htm:17]** **[1554818_0001683168-25-008031_auddia_i10q-093025.htm:16]**
- Say-on-pay exemption, governance: **[1554818_0001683168-24-008393_auddia_def14a.htm:2]** **[1554818_0001683168-24-008393_auddia_def14a.htm:45]**