Maroun Mourad
About Maroun Mourad
Maroun S. Mourad was appointed President of Clarivate’s Intellectual Property segment effective September 8, 2025, after leading Verisk Analytics’ Claims Solutions division; he is a data analytics and software executive who has profitably grown businesses in the U.S., U.K., Europe and emerging markets since 1998, and holds a BA and JD from the University of California, Berkeley . CEO Matti Shem Tov cited Mourad’s track record of delivering results in data & analytics, software, and tech-enabled services as aligned with Clarivate’s goal of “long-term predictable growth” in IP; specific pay levels, performance targets or one-time awards for Mourad were not disclosed in the appointment 8‑K or press release .
Note: Company-wide performance metrics for incentive plans (Adjusted EBITDA, Adjusted diluted EPS, Voice of Customer, TSR modifier) are disclosed in the 2025 proxy and will govern executive incentives broadly; no individual results for Mourad are disclosed as of the latest filings .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Verisk Analytics | President, Claims Solutions division | Most recent prior role (through 2025) | Led integrated global product/services portfolio across the insurance policy lifecycle; scaled data/analytics and tech-enabled services . |
| Verisk Analytics (ISO – Commercial Lines) | President, ISO – Commercial Lines | Since June 19, 2017 (per public bio) | Led commercial lines coverage, actuarial products, underwriting solutions, and field operations . |
| Zurich Insurance Company/Zurich Insurance Group | CEO, General Insurance Middle East (GI ME) | Appointed Jan 24, 2011 (per public bio) | Led GI ME, including integration of Compagnie Libanaise d’Assurances branches across UAE, Kuwait, Oman . |
| Gen Re; AIG; Arch; Zurich | Various leadership roles | Not disclosed | Served across underwriting, operations, and general management; led P&Ls across personal/commercial lines and geographies . |
External Roles
- None disclosed in Clarivate’s filings related to the appointment; no public company directorships identified in the appointment materials .
Fixed Compensation
| Component | Amount/Terms | Source |
|---|---|---|
| Base salary | Not disclosed for Mourad as of the July 30, 2025 appointment 8‑K/press release | |
| Target annual bonus (AIP) | Not disclosed for Mourad; company precedent shows Presidents/other NEOs at 100% target in 2024 | 100% AIP target for President, IP (Gordon Samson, 2024) and other NEOs |
| Perquisites | Executive physical reimbursement up to $5,000/year; no tax gross-up on that perquisite (company policy) |
Context from 2025 proxy (not yet specific to Mourad): 2024 base salary for President, IP (Samson) was $600,000; AIP target 100% of base .
Performance Compensation
Annual Incentive Plan (AIP) Structure (Company Policy)
| Metric | Weighting | Payout Range | Notes |
|---|---|---|---|
| Pre-bonus Adjusted EBITDA | 90% | 0%–200% of target | Core financial metric for annual plan . |
| Voice of Customer (Net Promoter Score) | 10% | 90%–110% of target | Replaces prior “customer delight” metric; industry-standard NPS methodology . |
| Individual performance modifier | n/a | Total capped at 200% | Can adjust final payout up or down per individual performance . |
Long-Term Incentive (LTI) Structure (Company Policy)
| Instrument | Performance Metrics | Measurement Window | Modifiers/Other |
|---|---|---|---|
| PSUs (performance-based RSUs) | 2024 and 2023 grants: Adjusted diluted EPS and Adjusted EBITDA | Cumulative 3-year | TSR modifier vs S&P 500 over 3-year period . |
| PSUs (legacy 2022 grants) | Revenue, Adjusted EBITDA Margin, Adjusted diluted EPS, Adjusted EBITDA | Cumulative 3-year | TSR modifier vs S&P 500 . |
| RSUs | Time-based vesting per award agreement | Typically annual tranches | 2024 retention RSUs for NEOs vest after 1 year (context) . |
Note: No specific AIP targets, actuals, or LTI grants for Mourad are disclosed as of the appointment 8‑K/press release .
Equity Ownership & Alignment
| Policy/Status | Detail |
|---|---|
| Stock ownership guidelines | Executive officers: 3x base salary; CEO: 6x; Directors: 5x retainer; 5-year compliance period; counts shares (direct/indirect), unvested RSUs, and deferred shares; excludes unvested/unearned PSUs and unexercised options . |
| Hedging | Prohibited (e.g., zero-cost collars, forward sale contracts) for directors, executive officers, employees, consultants . |
| Pledging/margin | Prohibited; includes no margin accounts for company securities . |
| Insider trading controls | Quarterly trading blackouts and pre-clearance required for executive officers and designated insiders . |
| Clawback | Executive compensation recoupment policy compliant with Exchange Act Section 10D/NYSE 303A.14; awards subject to cancellation/recoupment for specified events, including detrimental conduct . |
No individual beneficial ownership, vested/unvested breakdown, pledged shares, or compliance status are disclosed for Mourad as of the latest filings/press materials .
Employment Terms
| Topic | Clarivate Policy/Terms (apply to executive officers) |
|---|---|
| Employment agreements | Executives have employment agreements for terms/benefits; no severance on voluntary resignation or for-cause termination; no single-trigger change-in-control payments . |
| Restrictive covenants | Perpetual confidentiality/IP assignment; 12-month post-termination non-compete and non-solicit of employees, customers, suppliers . |
| Severance (involuntary without cause, not CIC) | 18 months base salary; 1.5x AIP target; up to 18 months COBRA benefits; RSUs vest as if continued for 18 months; PSUs forfeited; stock option expiry extended to two years from Dec 31 of termination year . |
| Severance (double-trigger CIC: termination without cause within 12 months of CIC) | 24 months base salary; 2x AIP target; up to 24 months COBRA benefits; unvested RSUs and PSUs accelerate (PSU vesting level determined by Board) . |
| Death/disability | RSUs and PSUs vest in full; no cash severance/benefits continuation . |
| Equity plan change-in-control mechanics | HRCC discretion to accelerate, assume, substitute, or cash out awards on CIC; prohibition on repricing without shareholder approval . |
Note: Payment of severance requires a release of claims; ESP (Executive Severance Plan) adopted June 30, 2021 governs severance for executives .
Investment Implications
- Alignment and retention: New executive officers are bound by stringent no-hedging/no-pledging policies and 3x-salary ownership guidelines with a 5-year compliance window, supporting alignment but implying a ramp period before full “skin in the game” for new hires like Mourad .
- Incentive design and performance levers: AIP places 90% weighting on Adjusted EBITDA and 10% on Voice of Customer (NPS), incentivizing profitability and customer loyalty; LTI PSUs emphasize Adjusted EPS/EBITDA with a 3-year TSR modifier—key levers to watch under Mourad’s IP leadership are IP segment EBITDA growth, EPS accretion, and relative TSR .
- Change-in-control economics and sell pressure risk: Double-trigger CIC terms provide 2x AIP target and 24 months salary with full equity acceleration (PSU level set by the Board), which can create step-change liquidity for insiders in a transaction; time-based RSU structures (e.g., 1-year retention grants for NEOs in 2024) can create predictable vesting windows that sometimes correlate with insider selling once blackout windows lift .
- Program safeguards: Robust clawback policies (10D/NYSE 303A.14 compliant), pre-clearance/blackouts, and prohibition on repricing reduce governance risk; compensation risk assessment by an independent consultant concluded plan risks are not reasonably likely to have a material adverse effect .
- Execution watchlist: Given Mourad’s background scaling data/analytics franchises at Verisk, monitor IP segment revenue/EBITDA trajectory, NPS trends, and any disclosed synergy/M&A moves within IP that would feed EPS/TSR-based PSU outcomes; initial compensation details (salary, bonus target, sign-on/retention equity) were not disclosed at appointment, so watch for forthcoming 8‑K or proxy updates .
References:
- Appointment and biography: Clarivate 8‑K (July 30, 2025) and press release .
- Compensation policies, ownership guidelines, hedging/pledging, clawback, AIP/LTI metrics, severance/CIC: Clarivate 2025 Proxy Statement (DEF 14A, Mar 28, 2025) .
- Prior roles context: Public executive bios .