Alesia Haas
Chief Financial Officer at COIN
Executive
About Alesia Haas
Alesia Haas is Chief Financial Officer at Coinbase (since April 2018), with prior CFO roles at Sculptor Capital (formerly Och-Ziff) and OneWest Bank; she holds a B.S. in Business Administration from Cal Poly San Luis Obispo and was 48 years old as of March 31, 2025 . Company performance context during her tenure includes 2024 total net revenue of $6.3B, net income of $2.58B, and Adjusted EBITDA of $3.35B; Coinbase’s year-end stock price was $248.30 in 2024 versus $35.39 in 2022, reflecting substantial value creation through 2024’s rebound (non-GAAP defined and reconciled in Appendix A) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Sculptor Capital Management (formerly Och-Ziff) | Chief Financial Officer | 2016–2018 | Public company CFO experience in alternative asset management |
| OneWest Bank, N.A. (CIT acquisition completed Dec 2015) | Various roles incl. CFO | 2009–2015 (CFO 2013–2015) | Bank CFO experience through sale process to CIT |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| ANGI Homeservices Inc. | Director | Since 2017 | Public company board service |
| Vimeo, Inc. | Director | Since 2021 | Public company board service |
Fixed Compensation
- Coinbase pays NEOs a competitive base salary and no annual cash bonus; equity is the primary incentive vehicle .
- Alesia Haas’ base salary was $730,000 in 2024 (unchanged vs. 2023) .
| Year | Salary ($) | Bonus ($) | All Other Compensation ($) | Total ($) |
|---|---|---|---|---|
| 2024 | 730,000 | — | 3,450 (401k match) | 10,733,380 |
| 2023 | 730,000 | — | 3,300 (401k match) | 733,300 |
| 2022 | 729,125 | — | 3,050 (401k match) | 11,967,321 |
Notes:
- No annual cash bonus for NEOs; program emphasizes long-term equity .
- Benefits are same programs as other U.S. employees; 401(k) match 50% of first 6% compensation (Haas received $3,450 in 2024) .
Performance Compensation
- Coinbase does not operate an annual cash bonus plan for NEOs; Haas’ 2024 equity was a time-vested RSU grant with three-year quarterly vesting, not tied to explicit annual financial targets .
- COO has a separate performance RSU program; no similar PSU program is disclosed for Haas .
| Incentive Type | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Annual Cash Bonus | N/A | N/A | N/A | N/A | N/A | Not offered to NEOs |
| RSUs (2024 grant) | Time-based | N/A | N/A | N/A | N/A | Equal quarterly installments Feb 20, 2024 to Nov 20, 2026 |
| PSUs/Options (2024) | N/A for Haas | — | — | — | — | No 2024 PSUs/options granted to Haas |
2024 equity awards to Haas:
- RSUs granted 2/10/2024: 70,427 units; quarterly vest over 3 years starting 2/20/2024; grant-date fair value $9,999,930 .
Equity Ownership & Alignment
- Trading policy: Executives must conduct open-market trades only through Rule 10b5-1 plans; hedging prohibited; pledging prohibited unless approved by CLO .
- Clawback: Compensation recovery policy compliant with SEC/Nasdaq allows recoupment of incentive-based comp upon an accounting restatement .
Ownership (as of March 31, 2025):
- Beneficial ownership: 285,710 Class A shares and 617,668 Class B options deemed beneficially owned; <1% of outstanding shares; includes 9,969 RSUs settling within 60 days and 15,673 Class A shares via ACB 2021, LLC (sole member; disclaims beneficial ownership except pecuniary interest) .
- Director ownership guidelines exist; executive ownership guidelines not disclosed .
Outstanding/Unvested (as of Dec 31, 2024):
| Instrument | Status | Quantity | Exercise/Price | Notes |
|---|---|---|---|---|
| RSUs (2024 grant) | Unvested | 46,951 | — | Market value $11,657,933 at $248.30; vests quarterly to Nov 20, 2026 |
| Options (2018) | Exercisable | 617,668 | $6.97 | Early-exercise provision; monthly vest schedule completed |
| Options (2020) | Exercisable | 78,433 | $18.13 | Early-exercise provision |
| Options (2022) | Exercisable | 66,769 | $214.50 | Quarterly vest schedule completed in 2024 |
- In-the-money as of 12/31/2024: the above options’ exercise prices ($6.97/$18.13/$214.50) were below the $248.30 stock price .
Insider transactions (2025, under 10b5-1 plan adopted Aug 29, 2024):
- Aug 15, 2025: Open-market sales executed pursuant to 10b5-1 plan (weighted avg sale price range $319.70–$319.94; SEC Form 4) .
- Sep 15, 2025: 6,417 shares sold (blocks at $322.22 and $323.5753); post-transaction holdings disclosed; pursuant to same 10b5-1 plan (SEC Form 4) .
- Oct 15, 2025: 6,142 shares sold (weighted avg $343.36 and $345.42); post-transaction direct 84,820 shares and 3,484 via ACB 2021, LLC; pursuant to 10b5-1 plan (SEC Form 4) .
Takeaway: Haas’ 2024 grant vests quarterly through November 2026, creating periodic supply; reported 2025 sales were plan-driven under a pre-adopted 10b5-1, consistent with policy. No pledging or hedging is permitted by policy, and no pledging is disclosed for Haas .
Employment Terms
- Employment is at-will under an employment letter agreement; NEOs participate in standard company benefits; no annual cash bonus .
- Change-of-control and severance policy (COC Policy):
- Qualifying Termination outside CoC window: 6 months base salary cash lump-sum + up to 6 months company-paid COBRA .
- Qualifying Termination within 3 months before or 12 months after CoC: 12 months base salary + up to 12 months COBRA; 100% acceleration of outstanding equity (performance awards at greater of target or projected actual) .
Severance economics (as of Dec 31, 2024, illustrative per proxy table):
| Scenario | Cash Severance ($) | COBRA ($) | Equity Acceleration ($) | Total ($) |
|---|---|---|---|---|
| Qualifying Termination – No CoC | 365,000 | 14,166 | — | 379,166 |
| Qualifying Termination – With CoC | 730,000 | 28,332 | 11,657,933 (unvested RSUs value at $248.30) | 12,416,265 |
Other governance protections:
- No single-trigger CoC; double-trigger arrangements apply .
- No excise tax gross-ups on parachute payments; cutback to avoid 280G if better after-tax .
Compensation Structure Analysis
- Cash vs. equity mix: No annual bonus; equity RSUs are primary incentive, increasing long-term alignment and retention reliance on stock price/vesting rather than short-term targets .
- Shift in vehicles: 2024 awards for NEOs (ex-CEO) were time-vested RSUs, not options/PSUs, lowering performance risk relative to options but aligning with stock outcomes over time .
- Clawback policy adopted to recoup incentive-based comp upon restatement, improving accountability .
- Pledging/hedging: Prohibited (hedging fully; pledging absent CLO approval), reducing misalignment/credit risk; executive trading restricted to Rule 10b5-1 plans .
Say-on-Pay & Shareholder Feedback
- Say-on-pay frequency: every three years; advisory vote in 2025 proxy .
- Prior result: 2022 say-on-pay received over 99% support, informing continuity of the 2024 program design .
Compensation Peer Group (2024 Cycle)
- Peer set includes high-growth tech/fintech names such as Airbnb, Block, DoorDash, Intuit, Palo Alto Networks, Robinhood, Shopify, Snap, Snowflake, The Trade Desk, Twilio, Workday, Zoom, among others (see proxy for full list/updates) .
Multi-Year Compensation Snapshot (Haas)
| Year | Salary ($) | Stock Awards ($) | Option Awards ($) | All Other ($) | Total ($) |
|---|---|---|---|---|---|
| 2024 | 730,000 | 9,999,930 | — | 3,450 | 10,733,380 |
| 2023 | 730,000 | — | — | 3,300 | 733,300 |
| 2022 | 729,125 | 4,935,031 | 6,300,115 | 3,050 | 11,967,321 |
Equity Ownership Detail (as of 12/31/2024 and 3/31/2025)
| Category | Detail |
|---|---|
| Unvested RSUs (12/31/24) | 46,951 units; market value $11,657,933 at $248.30; vesting quarterly to Nov 20, 2026 |
| Options Exercisable (12/31/24) | 617,668 @ $6.97; 78,433 @ $18.13; 66,769 @ $214.50 (all in-the-money vs $248.30) |
| Beneficial Ownership (3/31/25) | 285,710 Class A; 617,668 Class B (via options) beneficially owned; <1% ownership; includes 9,969 RSUs settling within 60 days and 15,673 Class A via ACB 2021, LLC (sole member; disclaims beneficial ownership except pecuniary interest) |
| Trading/Restrictions | Trades via Rule 10b5-1 plans; hedging prohibited; pledging prohibited absent CLO approval |
Insider Selling & Vesting Schedules (Trading Signals)
- 2024 RSUs vest quarterly: first vest 2/20/2024; fully vest by 11/20/2026—implies regular settlement cadence that can add recurring supply absent retention sales holdbacks .
- 2025 insider sales were executed under a 10b5-1 plan adopted Aug 29, 2024:
- Aug 15, 2025 sales; weighted-average prices $319.70–$319.94 (SEC Form 4) .
- Sep 15, 2025: 6,417 shares sold at ~$322–$324 (SEC Form 4) .
- Oct 15, 2025: 6,142 shares sold at ~$343–$345; post-transaction direct 84,820 shares and 3,484 via ACB 2021, LLC (SEC Form 4) .
Governance, Policies, and Related Provisions
- Insider trading/plan policy: directors/executives must use 10b5-1 plans; amendments/terminations subject to cooling-off periods; robust restrictions on hedging/pledging .
- Clawback policy: filed as Exhibit 97.1; enforced by Compensation Committee; applies to current/former officers on incentive-based pay after restatement .
- No single-trigger CoC; double-trigger only; no excise tax gross-ups .
Investment Implications
- Alignment and retention: The absence of annual cash bonuses concentrates incentive value in multi-year equity that vests quarterly, supporting retention but creating predictable vest-driven supply; Haas’ 2024 RSUs vest through 11/20/2026, and her 2025 sales were under a pre-set 10b5-1 plan consistent with policy, mitigating signaling concerns .
- Change-in-control economics: Under a double-trigger CoC event, Haas would receive 12 months’ base salary and full acceleration of equity (target or projected actual for performance awards, though Haas had time-based RSUs in 2024), representing a meaningful equity overhang if a transaction occurs (proxy table shows $11.66M unvested RSUs value at 12/31/24) .
- Risk controls: Formal clawback, trading plan requirements, and bans on hedging/pledging reduce governance red flags; no excise tax gross-ups aligns with shareholder-friendly practices .
- Execution backdrop: Company-level 2024 profitability and stock recovery bolster the perceived effectiveness of the equity-centric model; however, lack of explicit annual performance metrics in CFO pay may reduce direct linkage to financial targets vs. time-based vesting .