Leah Putnam
About Leah Putnam
Leah R. Putnam, 35, is Chief Accounting Officer (Principal Accounting Officer) of Beyond, Inc. (NYSE: BYON), appointed effective March 10, 2025. She holds a B.A. in Accounting from Washington & Jefferson College and an MBA (Finance) from Robert Morris University, and previously served as Beyond’s VP, Finance & Controller, and VP, FP&A; earlier she held corporate finance, financial systems, and data governance roles at Hertz (2018–2020) . Company performance context: revenue declined 11% YoY in 2024 to $1.395B vs. $1.561B in 2023 and TSR fell to 69.93 (from a $100 base in 2019) as of 12/31/2024, underscoring the turnaround mandate under new leadership .
Company performance (context for 2024):
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Revenue ($000s) | $1,561,122 | $1,394,964 |
| TSR (Value of $100 initial investment) | $392.77 | $69.93 |
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Beyond, Inc. | Director FP&A; Senior Director FP&A; VP FP&A; VP Finance & Controller; Chief Accounting Officer | 2020–2025 (CAO effective 3/10/2025) | Progressively expanded scope across FP&A and controllership; now oversees accounting, SEC reporting, tax, treasury, ERP; integrates finance disciplines to support profitability focus |
| Hertz Corporation | Corporate finance, financial systems, data governance roles | 2018–2020 | Brought systems/data governance and finance rigor from large-scale operator |
External Roles
| Organization | Role | Years | Note |
|---|---|---|---|
| — | — | — | No public company directorships or external board roles disclosed . |
Fixed Compensation
| Component | Value | Notes |
|---|---|---|
| Base salary | $325,000 | Effective with CAO appointment (3/10/2025) |
| Target annual bonus | 50% of base salary | Eligible under company’s annual incentive plan |
Performance Compensation
New-hire/elevation equity awards (effective 3/10/2025):
| Award type | Grant date value | Vesting schedule | Performance link |
|---|---|---|---|
| RSUs | $31,250 | Vests in three equal installments on Feb 4, 2026/2027/2028, subject to service | Time-based (service) |
| Performance Shares (PSUs) | $143,750 | Per award agreement; subject to achieving defined performance metrics; service required | Performance-based; target payout with up to 135% max |
Annual bonus framework (context from 2024 program for executive officers; metrics can inform 2025 design):
- Metrics and weightings in 2024: Active Customers (25%); G&A and Technology Expenses as % of Gross Profit (25%); Revenue (25%); Individual performance (25%) .
Equity Ownership & Alignment
- Stock ownership guidelines: senior executive officers (including non-CEO NEOs) must hold stock valued at 3x base salary within five years (policy adopted Jan 2023); time-based RSUs count, performance shares excluded . As of 12/31/2024, senior executives were in compliance or within the compliance window; new executives have five years from appointment .
- Hedging/pledging: Insider trading policy prohibits hedging, monetization transactions, short sales, and trading derivative securities; trading is windowed and pre-cleared; pledging is prohibited under policy scope (transactions “including gifts and pledges” restricted while in possession of MNPI, and anti-hedging policy prohibits hedging) .
- Beneficial ownership disclosure: The 2025 proxy footnote notes certain officers (including Ms. Putnam) have shares issuable under awards within 60 days of the record date; a separate ownership line item for Ms. Putnam was not tabulated, but executives and directors as a group held 857,135 shares (1.6%) as of the record date (3/24/2025) .
Employment Terms
Key Employee Severance Plan (Tier 3) – Ms. Putnam is a Tier 3 participant . Summary economics:
| Scenario | Cash severance | Health continuation | Equity vesting |
|---|---|---|---|
| Qualifying termination (without cause; non‑CIC) | Lump sum up to 12 months base salary (Tier 3) | Up to 12 months premiums (Tier 3) | Acceleration for service‑based RSUs up to 12 months (Tier 3); performance shares per plan terms |
| Double‑trigger (CIC + qualifying termination within 12 months) | Lump sum = 12 months base salary + target annual bonus (Tier 3) | 12 months (Tier 3) | Equity vesting per equity plan CIC provisions (assumption/substitution; if not assumed, 100% vesting) |
Other governance and recovery provisions:
- Double-trigger change-of-control mechanics in the equity plan; awards may vest if not assumed/substituted or upon qualifying post-CIC termination .
- Clawback policy adopted per NYSE standards applies to Section 16 officers for incentive-based compensation after 10/2/2023 in the event of an accounting restatement .
- The equity plan prohibits repricing of options/SARs without shareholder approval and bars paying dividends/dividend equivalents on unvested awards .
Performance & Track Record
- Background and execution scope: As CAO, she oversees accounting, SEC reporting, tax, treasury, ERP—and previously led FP&A—positioning her to drive tighter cost controls and reporting discipline during the company’s profitability-focused transformation .
- Company context: 2024 revenue fell 11% and TSR deteriorated sharply, framing the need for the 2025 leadership realignment in which she was elevated to CAO as part of a broader push to return to profitability .
Compensation Peer Group & Say‑on‑Pay (context)
- 2024 peer group (examples): 1‑800‑FLOWERS.COM, Big Lots, Boot Barn, La‑Z‑Boy, Ollie’s, Sleep Number, Stitch Fix, Lands’ End, USANA, iRobot, etc.; updated for 2025 to reflect size/transactions (adds include Angi, Cars.com, Funko, J.Jill, The RealReal) .
- 2024 say‑on‑pay approval: 89.6% support; company holds annual say‑on‑pay votes .
Risk Indicators & Red Flags
- Hedging/short sales prohibited; pre-clearance and trading window controls in place .
- No excise tax gross‑ups; no option repricing without shareholder approval .
- Related‑party transactions: None requiring disclosure since 1/1/2024, other than standard compensation arrangements .
Investment Implications
- Pay-for-performance alignment: Ms. Putnam’s elevation package skews toward performance equity (PSUs $143,750 vs. RSUs $31,250) with a moderate cash package ($325k salary, 50% target bonus), signaling alignment with profitability and growth goals while managing fixed compensation expense .
- Retention risk: Tier 3 severance with double-trigger CIC protections and multi‑year vesting provide retention ballast without excessive cash severance; ownership guidelines (3x salary) and hedging prohibitions strengthen alignment and reduce downside governance risk .
- Trading signal watchlist: No Form 4s surfaced in the company document corpus for Ms. Putnam; monitor for post‑vesting transactions and 10b5‑1 adoptions around vest dates (Feb 4 tranche cadence) to gauge potential selling pressure .
- Execution focus: Given 2024 revenue decline and TSR compression, the finance/controls footprint Ms. Putnam leads (accounting, SEC reporting, ERP, treasury) is central to cost discipline and reporting credibility amid the turnaround led by new PEO and finance leadership .
Notes: All data are from Beyond, Inc. SEC filings and the 2025 proxy unless otherwise noted.