James Caci
About James Caci
James Caci is Chief Financial Officer of AvePoint, appointed in August 2021; he previously served as AvePoint’s CFO from 2010–2013 and held CFO roles at Brand Value Accelerator (Apr 2020–Aug 2021) and Nicopure Labs (Mar 2016–Apr 2020). He brings more than 25 years of experience leading strategic finance at public and private SaaS and IT services companies and holds a BS in Business Administration from Montclair State University . Under management’s tenure in 2024, AvePoint delivered ARR of $327.0M (+24% YoY), total revenue of $330.5M (+21.6% YoY), and positive GAAP operating income of $7.2M (vs. a $(15.4)M loss in 2023) . Pay-versus-performance disclosures show TSR improving year-over-year, with the value of a $100 investment at $34.39 (2022), $68.70 (2023), and $134.78 (2024) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| AvePoint | Chief Financial Officer | Aug 2021–present | Executive finance leadership at global SaaS data management company . |
| Brand Value Accelerator, LLC | Chief Financial Officer | Apr 2020–Aug 2021 | CFO of digital commerce services firm . |
| Nicopure Labs | Chief Financial Officer | Mar 2016–Apr 2020 | CFO of consumer products company . |
| AvePoint (predecessor company) | Chief Financial Officer | 2010–2013 | Finance leadership in prior tenure . |
External Roles
- None disclosed .
Fixed Compensation
Summary Compensation (CFO — amounts actually paid/awarded)
| Year | Salary ($) | Stock Awards ($) | Option Awards ($) | Non-Equity Incentive (Bonus) ($) | Total ($) |
|---|---|---|---|---|---|
| 2022 | 315,000 | 675,000 | 225,000 | 199,500 | 1,414,500 |
| 2023 | 350,000 | 1,049,999 | 350,001 | 327,915 | 2,077,915 |
| 2024 | 375,000 | 1,599,984 | - | 391,000 | 2,365,984 |
Base Salary Progression (Annualized)
| Year | Base Salary (US$) |
|---|---|
| 2023 | 350,000 |
| 2024 | 375,000 |
2024 Annual Incentive Target and Payout
| Named Executive Officer | Target Incentive (% of Base) | 2024 Base ($) | Target ($) | Payout % | Actual Bonus ($) |
|---|---|---|---|---|---|
| James Caci (CFO) | 90% | 375,000 | 337,500 | 115.9% | 391,000 |
Notes:
- 2025 AIP metric update: replaces non-GAAP operating income with GAAP operating income; weights: Total Revenue 40%, ARR 40%, GAAP Operating Income 20% .
Performance Compensation
Annual Incentive Plan (AIP) – 2024 goals, weights, targets, actuals, payouts
| Metric | Weight | Threshold | Target | Max | Actual FY2024 | Payout as % of Target |
|---|---|---|---|---|---|---|
| Total Revenue ($M) | 40% | 299.6 | 325.6 | 351.6 | 330.5 | 101.5% |
| ARR ($M) | 40% | 298.3 | 324.2 | 350.1 | 327.0 | 100.9% |
| Non-GAAP Operating Income ($M) | 20% | 28.6 | 35.8 | 43.0 | 47.6 | 133.1% |
| Weighted Average Payout | — | — | — | — | — | 115.9% |
Long-Term Equity Awards (granted March 5, 2024)
| Award Type | Grant Date | Shares (#) | Exercise Price ($) | Grant-Date Fair Value ($) |
|---|---|---|---|---|
| RSU | 5-Mar-2024 | 100,857 | — | 1,199,993 |
| PRSU | 5-Mar-2024 | 53,618 | — | 399,990 |
Vesting schedules and mechanics
- Options (standard schedule): 25% at 1-year anniversary, remainder in 12 equal quarterly installments thereafter .
- RSUs: 25% at 1-year anniversary, remainder in 12 equal quarterly installments thereafter .
- PRSUs: 4-year schedule; 50% vests after 2 years, remaining 50% vests quarterly over the next 8 quarters, subject to specific performance targets .
- Stock vested in 2024: 163,489 shares for Caci; value realized on vesting $1,745,369.99 .
Earn-Out Shares (SPAC earnout)
- In Dec 2024, all three price thresholds were met; Caci received 4,354 Company Earn-Out Shares .
Equity Ownership & Alignment
Beneficial Ownership (Record Date context)
| Item | Amount |
|---|---|
| Beneficially owned shares (Caci) | 362,396 |
| Ownership % of outstanding | 0.18% (202,874,440 shares outstanding at Record Date) |
| Components (within 60 days): Common | 207,120 |
| Components (within 60 days): Options exercisable | 132,550 |
| Components (within 60 days): RSUs vesting | 22,726 |
Additional alignment factors
- Anti-hedging and anti-pledging: Company policy prohibits hedging and pledging or otherwise encumbering AvePoint equity as collateral for indebtedness .
- Stock ownership guidelines: not disclosed in cited materials.
- 2024 vesting activity: 163,489 shares vested for Caci (value realized $1,745,369.99), indicating ongoing quarterly settlement flows tied to service/performance schedules .
Employment Terms
Key agreement terms (CFO)
- New employment agreement executed February 2024; at-will, initial 3-year term, auto-renews for successive one-year terms unless 60 days’ notice of non-renewal .
Severance and Change-in-Control (CIC) economics
| Scenario | Cash Severance | Bonus Treatment | COBRA | Equity Acceleration |
|---|---|---|---|---|
| Without Cause / For Good Reason | 12 months of then-current base salary plus annual bonus equal to the average of the prior two years, paid in installments | Included in cash severance (average of prior two years) | Company-paid COBRA up to 12 months (or equivalent taxable cash payments if needed) | Time-based equity accelerates as if employed for 12 additional months post-termination; performance-based awards excluded |
| Change in Control | — | — | — | Acceleration in full of equity awards if continuous service through closing; also accelerates if terminated without Cause or for Good Reason during the three months immediately prior to closing (single-trigger acceleration at closing) |
Potential Payments (illustrative, as of Dec 31, 2024; values include equity at $16.51/share)
| Scenario | Amount ($) |
|---|---|
| Without Cause | 4,074,670.98 |
| For Good Reason | 4,074,670.98 |
| Change in Control | 7,691,931.76 |
Performance & Track Record
Operating and shareholder outcomes
| Metric | 2023 | 2024 |
|---|---|---|
| Total Revenue ($M) | 271.825 | 330.482 |
| ARR ($M) | 264.5 | 327.0 |
| GAAP Operating Income ($M) | (15.4) | 7.2 |
TSR (value of $100 investment)
| Year | Value ($) |
|---|---|
| 2022 | 34.39 |
| 2023 | 68.70 |
| 2024 | 134.78 |
Compensation peer group (FY 2024)
- Alkami Technology; Amplitude; Couchbase; CS Disco; Domo; Enfusion; Intapp; Jamf Holding; JFrog; Matterport; MeridianLink; Model N; N-able; PagerDuty; Semrush Holdings; Varonis Systems; Yext; Zeta Global Holdings; Zuora .
Investment Implications
- Pay-for-performance alignment: The 2024 AIP tied to Total Revenue, ARR, and Non-GAAP Operating Income resulted in a 115.9% payout given outperformance on all metrics; for 2025, shifting to GAAP operating income should further emphasize cost discipline and durable profitability .
- Retention risk vs. selling pressure: RSUs/PRSUs vest 25% at year one, then quarterly, creating ongoing sell-to-cover and potential supply; Caci realized value on 163,489 vested shares in 2024, and received 4,354 earn-out shares, pointing to continued equity flow but also retention hooks via service/performance vesting .
- Change-in-control construct: Full single-trigger equity acceleration upon a CIC (or qualifying termination shortly before close) is protective for management but can reduce post-deal retention leverage; it also increases the option value of strategic alternatives from an executive perspective .
- Alignment and safeguards: Beneficial ownership is 0.18% of outstanding shares (modest but meaningful at current scale), and anti-hedging/anti-pledging provisions enhance alignment by limiting risk transfer/encumbrance of shares .
- Execution track record: 2024 marked a pivot to GAAP profitability alongside strong top-line and ARR growth; TSR recovery from 2022 to 2024 mirrors improved fundamentals, supportive of incentive realizations that are equity-heavy for the CFO and NEOs .