Huw Owen
CouchbaseAbout Huw Owen
Huw Owen is Senior Vice President and Chief Revenue Officer at Couchbase (BASE), age 48, serving as CRO since June 2022 after leading EMEA/APJ since September 2018; he holds a B.A. (Hons) in Business Studies from Leicester Business School, De Montfort University . Company performance context for incentive alignment: FY2025 revenue was $209.5M (+16% YoY) with GAAP gross margin 88.1% and non-GAAP gross margin 88.9% ; annual bonus metrics for FY2025 were Annualized Recurring Revenue ($237.9M) and non-GAAP operating loss ($14.4M) with a 0.95x payout multiplier . Track record includes accelerating international ARR by nearly 200% while leading Couchbase’s international sales organization .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Couchbase | SVP & Chief Revenue Officer | Since Jun 8, 2022 | Led revenue organization; prior international ARR up ~200% |
| Couchbase | VP & GM – EMEA and APJ | Sep 2018–Jun 2022 | Grew international ARR materially |
| Tanium Inc. | Regional Vice President | Feb 2017–Sep 2018 | Led regional sales |
| Veritas, Symantec, Lenovo, Good Technology | Various international sales leadership roles | Not disclosed | Enterprise go-to-market leadership |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Not disclosed in 2025 Proxy | — | — | — |
Fixed Compensation
| Year | Base Salary (USD) | Base Salary (GBP) | Target Bonus % | Actual Bonus Paid (USD) |
|---|---|---|---|---|
| FY2025 | $465,611 | £375,000 | Not disclosed | $375,981 |
| FY2024 | $462,470 | — | Not disclosed | $452,064 |
| FY2023 | $511,651 | — | Not disclosed | $410,980 |
| FY2026 (policy) | — | — | 95% of base salary | — |
Notes:
- FY2025 base salary for Owen is paid in GBP and converted to USD using $1.24163/£ at Jan 31, 2025 .
- FY2024 and FY2023 amounts for Owen converted at $1.26704/£ (Jan 31, 2024) and $1.231365/£ (Jan 31, 2023), respectively .
Other compensation items (indicative of perqs and alignment):
- Pension contributions: $18,624 (FY2025), $23,123 (FY2024), $15,605 (FY2023) .
- Tax gross-ups: $8,863 (FY2025), $8,584 (FY2024), $9,660 (FY2023) .
Performance Compensation
Annual Incentive Bonus Structure (FY2025)
| Metric | Weighting | Target | Actual | Payout Multiplier | Vesting/Timing |
|---|---|---|---|---|---|
| Annualized Recurring Revenue (ARR) | Not disclosed | Not disclosed | $237.9M | 0.95x | Cash bonus for FY2025 |
| Non-GAAP Operating Income (Loss) | Not disclosed | Not disclosed | $(14.4)M | 0.95x | Cash bonus for FY2025 |
FY2025 bonus paid to Owen: $375,981 .
RSU Grants (FY2025 program; granted Feb 28, 2024)
| Grant Date | Units | Grant-Date Fair Value (USD) | Vesting Schedule |
|---|---|---|---|
| 2/28/2024 | 83,396 | $2,291,722 | 1/8 quarterly after Mar 15, 2024; quarterly vesting dates are first trading day on/after Mar 15, Jun 15, Sep 15, Dec 15 |
PSU Outcomes (FY2022 PSUs, certified in FY2025)
| PSU Program | Target Units | Performance Metric | Certified Outcome | Units Vested (FY2025) |
|---|---|---|---|---|
| FY2022 PSUs | 50,000 | “Rule of 40” measure | Score: 5; 23.33% of total value eligible | 11,667 |
Notes:
- FY2022 PSU program performance period Feb 1, 2023–Jan 31, 2028; vesting tied to performance-related financial metrics and Capella .
Equity Ownership & Alignment
Beneficial Ownership
| As of Date | Shares Beneficially Owned | Ownership % of Outstanding |
|---|---|---|
| Mar 28, 2025 | 101,117 | <1% (*) |
| Mar 29, 2024 | 88,818 | <1% (*) |
Breakdown as of Mar 28, 2025:
- 27,722 shares held directly; 73,395 options exercisable within 60 days .
Outstanding Equity Awards (as of Jan 31, 2025)
Unvested RSUs and market values (close price $17.74):
| Grant Date | Unvested RSUs (#) | Market Value (USD) |
|---|---|---|
| 2/28/2024 | 52,121 | $924,627 |
| 2/28/2023 | 52,643 | $933,887 |
| 6/27/2022 | 97,132 | $1,723,122 |
| 6/8/2022 | 41,628 | $738,481 |
| 3/1/2022 | 6,985 | $123,914 |
| 1/26/2022 (PSUs) | — | $680,027 (payout value of unearned units) |
Options outstanding:
| Grant Date | Exercisable (#) | Unexercisable (#) | Strike ($) | Expiration |
|---|---|---|---|---|
| 3/9/2021 | 9,791 | 209 | $21.40 | 3/9/2031 |
| 9/17/2020 | 15,000 | — | $9.95 | 9/17/2030 |
| 9/18/2019 | 20,000 | — | $7.55 | 9/18/2029 |
| 12/12/2018 | 28,395 | — | $7.45 | 12/12/2028 |
Ownership alignment policies:
- Anti-hedging and anti-pledging policy prohibits hedging/derivative transactions, pledging, and margin accounts, applicable to executives and directors .
- Compensation Recovery (Clawback) Policy adopted in 2023, compliant with Rule 10D-1/Nasdaq, mandates recovery of erroneously awarded incentive-based compensation for restatements within the prior three fiscal years; applies to awards received on/after Oct 2, 2023 .
Stock ownership guidelines:
- Not disclosed in the 2025 proxy; governance “We Do/Do NOT” summary does not reference executive ownership multiples .
Employment Terms
| Term | Details |
|---|---|
| Confirmatory employment agreement | Executed in 2022 |
| Current annual base salary (GBP) | £375,000; FY2025 USD reported at $465,611 (converted at $1.24163/£) |
| FY2026 target cash incentive | 95% of base salary; under Executive Incentive Compensation Plan |
| Severance (qualified termination outside CIC window) | Salary continuation based on tenure; Owen eligible for 9–12 months depending on service (company presents dollar estimate) |
| Estimated severance (without CIC) | Salary severance $465,990; COBRA $3,907; Total $469,897 (assumes event Jan 31, 2025) |
| Change-in-control (double-trigger) | Lump sum salary (12 months), target bonus lump sum (prorated for NEOs other than CEO), up to 12 months COBRA |
| Equity acceleration on CIC | 100% acceleration of all time-based awards; performance-based per award terms |
| Estimated CIC economics | Salary $465,990; Bonus $396,092; COBRA $3,907; Accelerated vesting value $5,124,057; Total $5,990,046 (assumes event Jan 31, 2025) |
| 280G treatment | Best-net cut or full payment to maximize after-tax; no excise tax gross-ups |
| Release/non-solicit/non-disparagement | Payments contingent on signing release; may include non-solicit during severance term and non-disparagement; effective within 60 days post-termination |
Compensation Structure Notes
| Component | FY2025 | Trend/Notes |
|---|---|---|
| Base salary | $465,611 (up ~5.8% from FY2024 converted baseline) | Modest increase aligned around 50th percentile; paid in GBP |
| Annual cash bonus | $375,981 (0.95x of target based on ARR and non-GAAP Op Loss) | Metrics/performance-based; no discretionary adjustments |
| RSUs | 83,396 units; $2.29M grant-date value; 2-year quarterly vest | Shift toward RSUs for stability/retention in volatile markets |
| PSUs | 50,000 target; 11,667 vested on Rule-of-40 outcome (23.33% eligible) | Performance-linked; 2023–2028 horizon |
| Perquisites | Defined contribution pension + tax gross-ups; UK travel reimbursement up to $20,000 with gross-up; tax advice | Gross-ups are shareholder-unfriendly; travel perq unique to UK exec |
Governance and Committee Oversight
| Item | Detail |
|---|---|
| Compensation Committee | Members: Scott (Chair), Efrusy, Epstein, Antar; independent; engaged Compensia; four meetings FY2025 |
| Practices (“We Do/We Do NOT”) | Double-trigger CIC; anti-hedging/anti-pledging; clawback policy; no golden parachute tax gross-ups; no single-trigger CIC vesting; limited perqs |
Performance & Track Record Indicators
| Indicator | Detail |
|---|---|
| International ARR growth | Owen accelerated international ARR by nearly 200% prior to CRO appointment |
| FY2025 company performance | Revenue $209.5M (+16% YoY); GAAP gross margin 88.1%; non-GAAP 88.9% |
| FY2025 bonus metrics | ARR $237.9M; non-GAAP operating loss $(14.4)M; payout 0.95x |
Equity Vesting Schedules (Forward Pressure Indicators)
| Award | Schedule Details |
|---|---|
| FY2025 RSUs (granted 2/28/2024) | 1/8 quarterly after Mar 15, 2024; quarterly vest on first trading day on/after Mar 15, Jun 15, Sep 15, Dec 15 |
| FY2026 RSUs tranche (CEO only; shown for schedule reference) | 1/4 quarterly after Mar 16, 2026; similar calendar convention |
| FY2022 PSUs | Performance-based vesting through Jan 31, 2028; partial certification achieved (Rule-of-40) |
Investment Implications
- Alignment and upside: Owen’s pay mix is materially variable and equity-heavy (annual bonus tied to ARR and non-GAAP operating loss, plus multi-year RSUs/PSUs), aligning incentives with profitable growth and ARR expansion; FY2025 RSU grant of 83,396 units vests over two years, providing near-term retention hooks and potential sell-to-cover flows each quarter .
- Retention and CIC economics: Double-trigger CIC with full acceleration of time-based awards and estimated CIC total of ~$5.99M suggests balanced retention with meaningful protection; absence of excise tax gross-ups reduces shareholder-unfriendly risks, while performance-based award treatment preserves outcome discipline .
- Ownership and selling pressure: Beneficial ownership is <1% with 101,117 shares counted (includes options exercisable within 60 days), and significant unvested RSUs outstanding with market-tied values at $17.74 close—quarterly vesting cadence may create recurring supply events, particularly under Rule 10b5-1 plans .
- Governance quality: Strong guardrails—anti-hedging/pledging, clawback policy, independent committee/consultant—offset the presence of tax gross-ups on certain perqs; FY2025 bonus paid strictly per matrix without discretionary uplift, signaling discipline .