Alexander Thomas
About Alexander Thomas
Alexander W. Thomas, age 35, is Chief Operating Officer (COO) of Beyond, Inc. (BYON) as of March 10, 2025, responsible for operations across Bed Bath & Beyond, Overstock, and buybuy BABY, including merchandising, integrated marketing, partner operations, product, pricing, supply chain, and analytics . He joined Beyond in July 2020 in FP&A roles, advanced through pricing and corporate development leadership, and holds an MBA (Finance) from the University of St. Thomas and a BA from Northern State University . 2025 executive incentives emphasize profitability and margin expansion (Adjusted EBITDA run-rate, Adjusted Gross Margin, Contribution Margin), aligning Thomas’s pay directly with turn-around outcomes .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Beyond, Inc. | Senior Vice President, Finance & Corporate Development | Feb 2024 – Mar 2025 | Led FP&A, treasury, corporate development, investor relations; prepared for COO transition . |
| Beyond, Inc. | Vice President, International & Pricing | Mar 2023 – Feb 2024 | Drove international and pricing strategy and execution . |
| Beyond, Inc. | Senior Director, FP&A | Jan 2022 – Mar 2023 | Led company FP&A during brand integration period . |
| Beyond, Inc. | Director, FP&A | Jul 2020 – Jan 2022 | Built financial planning processes post brand acquisitions . |
External Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| The Hertz Corporation | Strategic finance roles | 2018 – 2020 | Corporate finance experience prior to joining Beyond . |
Fixed Compensation
| Component | Terms |
|---|---|
| Base salary | $350,000 per year effective Mar 10, 2025 . |
| Target annual bonus | 50% of base salary for 2025 . |
Performance Compensation
Annual Cash Incentive (2025 design for executive officers)
| Element | Structure |
|---|---|
| Program design | Four components: three pre-established corporate metrics plus an individual performance modifier (0%–125%) . |
| Metrics | Adjusted EBITDA (three-month run rate), Adjusted Gross Margin, Contribution Margin . |
| Adjusted EBITDA goal | Earn 100% at negative $5M three-month run rate; 120% at $0; eligibility floor: FY2025 Adjusted EBITDA ≥ negative $44M . |
| Adjusted Gross Margin goal | 23% = 50%; 25% = 100%; 28% = 150%; eligibility floor: 2025 gross profit ≥ $300M . |
| Contribution Margin goal | 3% = 50%; 6% = 100%; 9% = 150% . |
Long-Term Equity Awards (granted in connection with COO appointment)
| Award type | Grant value | Grant/Performance period | Vesting/Outcome mechanics |
|---|---|---|---|
| RSUs | $100,000 | Grant date effective Mar 10, 2025 | Vests 1/3 on Feb 4, 2026; 1/3 on Feb 4, 2027; 1/3 on Feb 4, 2028, subject to continued service . |
| Performance Shares (PSUs) | $100,000 (target); max 135% of target | One-year performance period ending Dec 31, 2025 | Payout based on 2025 metrics: Adjusted EBITDA run-rate, Adjusted Gross Margin, Contribution Margin (see table above); vesting subject to performance certification and continued service . |
PSU Performance Curve Details (2025)
| Metric | Threshold | Target | Maximum | Notes |
|---|---|---|---|---|
| Adjusted EBITDA (3-mo run rate) | N/A | Negative $5M (100%) | $0 (120%) | Eligibility floor: FY2025 Adjusted EBITDA ≥ negative $44M . |
| Adjusted Gross Margin | 23% (50%) | 25% (100%) | 28% (150%) | Eligibility floor: 2025 gross profit ≥ $300M . |
| Contribution Margin | 3% (50%) | 6% (100%) | 9% (150%) | Linear interpolation between points . |
Equity Ownership & Alignment
- Stock ownership guidelines: Senior executive officers must hold stock equal to 3x base salary within five years of becoming an officer; time-based RSUs count; performance shares do not .
- Compliance status: As of Dec 31, 2024, senior executives were in compliance or have additional time; newly appointed executives have five years from appointment to comply .
- Anti-hedging/short sales: Company policy prohibits hedging, short sales, and trading options in company stock; trading is subject to pre-clearance, window periods, and MNPI restrictions .
- Pledging: Policy addresses “gifts and pledges” as prohibited while in possession of MNPI; no explicit blanket pledging ban is stated in the policy excerpt; hedging/short sales are prohibited .
- Beneficial ownership disclosure: Individual holdings for Mr. Thomas are not separately tabulated in the 2025 proxy’s beneficial ownership table (group total for all current directors and executive officers: 857,135 shares; 1.6%); footnote notes Mr. Thomas has shares issuable within 60 days along with several others .
Employment Terms
| Term | Details |
|---|---|
| Appointment | Appointed COO effective Mar 10, 2025 . |
| Compensation agreement | Base salary and bonus target as above; RSU and PSU grants under the Company’s 2005 Equity Incentive Plan . |
| Severance/change-of-control | The proxy describes company-wide severance and equity acceleration frameworks; specific Severance Plan tier for Mr. Thomas was not disclosed in the Mar 10, 2025 8-K (Putnam disclosed as Tier 3; Nielsen as Tier 2 in connection with separation) . |
| Equity treatment on Change of Control | Awards may be assumed/substituted; if not (or if successor is not public), awards vest 100%. Separate “double-trigger” protection: if, within 18 months post-COC, the executive is terminated without cause or resigns for good reason, unvested awards fully vest unless otherwise provided . |
| Clawback policy | NYSE-compliant clawback applies to all Section 16 officers; recovery of erroneously awarded incentive-based compensation after an “Accounting Restatement” . |
| Insider trading controls | Trading limited to windows, pre-clearance required; anti-hedging/short sales in force . |
Investment Implications
- Pay-for-performance alignment: 2025 incentives for Mr. Thomas are tied to profitability and margin expansion (Adjusted EBITDA run-rate, Adjusted Gross Margin, Contribution Margin), directly aligning COO execution with near-term turn-around outcomes .
- Vesting/supply overhang: The $100,000 RSU grant vests evenly in Feb 2026–2028; any share sales would be constrained by insider trading windows and personal diversification needs; PSUs depend on performance certification for 2025 .
- Retention and change-of-control risk: Equity-heavy mix with one-year PSUs and multi-year RSUs supports retention; plan-level double-trigger equity acceleration upon COC plus a qualifying termination reduces downside career risk in a strategic event .
- Governance guardrails: Anti-hedging policy and a formal clawback reduce misalignment risks; compensation program overseen by an independent Compensation Committee with an external consultant, and prior say-on-pay received ~89.6% support in 2024 .