Jeffrey Jacobs
About Jeffrey Jacobs
Jeffrey Jacobs, age 49, is Dayforce’s Head of Accounting and Financial Reporting and Principal Accounting Officer, roles he has held since May 2020; he previously served as Vice President, Finance from December 2016 to May 2020 and is a certified public accountant (inactive) . Company performance during his tenure includes 2024 total revenue of $1.8 billion (+16% year over year) and free cash flow of $171.5 million (+63% YoY), with strong retention (98% gross revenue retention), reflecting disciplined execution and cash generation that underpin incentive payouts across the executive team . Dayforce’s 2024 incentive frameworks tied payouts to Cloud Recurring Revenue excluding float, Adjusted EBITDA excluding float, sales metrics, and relative TSR, signaling a multi-factor pay-for-performance orientation .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Dayforce, Inc. | Head of Accounting & Financial Reporting; Principal Accounting Officer | May 2020 – present | Oversees accounting and external reporting integrity; serves as Principal Accounting Officer |
| Dayforce, Inc. | Vice President, Finance | Dec 2016 – May 2020 | Finance leadership supporting financial planning and reporting processes |
External Roles
No external public company roles or board positions disclosed for Jacobs in the company’s proxy materials .
Fixed Compensation
Specific base salary, target bonus, and actual annual bonus amounts for Jacobs are not disclosed (he is not a Named Executive Officer). Dayforce’s program designs include annual review of base salary (market competitive, role scope, performance) and short-term incentives (MIP and STI fPSUs) alongside long-term incentives (RSUs, financial PSUs, market PSUs), with an emphasis on at-risk, performance-based equity . Executive compensation governance features include stock ownership guidelines, clawback policy, no hedging/pledging, and double-trigger vesting on change-in-control for most awards granted since 2021 .
Performance Compensation
2024 Management Incentive Plan (MIP) Outcomes
| Metric | Target Range | Actual | Payout | Vesting |
|---|---|---|---|---|
| Cloud Recurring Revenue, ex. float | Threshold $1,217.3M; Goal $1,248.5M; Max $1,279.7M | $1,235.7M | Contributes to total 85.59% payout | 50% cash / 50% MIP PSUs; PSUs vest after 1 year on certification |
| Adjusted EBITDA, ex. float | Threshold $299.4M; Goal $315.2M; Max $331.0M | $309.4M | Contributes to total 85.59% payout | 50% cash / 50% MIP PSUs; PSUs vest after 1 year on certification |
| Sales PEPM ACV | Targets not disclosed (competitive sensitivity) | Not disclosed | Included in total 85.59% payout | 50% cash / 50% MIP PSUs; PSUs vest after 1 year on certification |
Total MIP payout for 2024: 85.59% of target, certified by the Compensation Committee .
2024 Long-Term Incentive (LTI) PSUs and TSR PSUs
| Metric | Target Range | Actual | Payout | Vesting |
|---|---|---|---|---|
| Dayforce Recurring Revenue, ex. float YoY Growth | Threshold 17%; Goal 20%; Max 23% | 19.4% | Part of 97.7% total payout | Financial PSUs vest ratably over 3 years, certified annually |
| Adjusted Operating Profit, ex. float YoY Growth | Threshold 20%; Goal 30%; Max 40% | 25.6% | Part of 97.7% total payout | Financial PSUs vest ratably over 3 years, certified annually |
| Sales PEPM ACV | Targets not disclosed (competitive sensitivity) | Not disclosed | Included in 97.7% payout | Financial PSUs vest ratably over 3 years, certified annually |
| Market PSUs (mPSUs) | rTSR vs S&P 1500 Application Software: 25th→50th→75th→90th percentile for 50%→100%→150%→200% payout | 3-year performance (2024–2026), certified post-period | N/A until end of period | 3-year cliff vesting on certification |
Total 2024 LTI financial PSU payout certified at 97.7% of target .
2024 Short-Term (STI) fPSUs – Cost Savings Initiative
| Metric | Threshold | Target | Maximum | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Cost Savings (headcount + non-headcount) | $24M (90%) | $26M (100%) | $29M (110%) | >$30M | 110% of target | One-year cliff; vested on certification |
Equity Ownership & Alignment
| Date | Total Beneficial Ownership | Composition | Ownership % of Shares Outstanding | Notes |
|---|---|---|---|---|
| Aug 20, 2025 (post-trade) | 49,754 shares | Includes 29,984 unvested RSUs and 184/139 ESPP shares acquired on Mar 31 / Jun 30, 2025 | ~0.03% (49,754 / 159,957,342) | Prohibitions on hedging/pledging for executives and directors; no exceptions granted in 2024 |
Additional insider activity: Jacobs sold 700 shares at $66.10 on Aug 18, 2025 under a Rule 10b5-1 plan adopted Nov 27, 2024, and later reported a sale of 353 shares around Oct 27–28, 2025, continuing plan-driven sales . The 2024 Form 10-K discloses Jacobs’ 10b5-1 plan facilitating up to 8,589 shares sold between April 25, 2025 and October 26, 2026 .
Stock ownership guidelines: CEO 6x base salary; other executive officers 3x base salary, with a five-year compliance window and 75% post-tax retention until met; unvested awards and options do not count toward compliance . Company policy prohibits hedging or pledging of company stock for all directors and employees; no exceptions granted in 2024 .
Employment Terms
- Role and Tenure: Principal Accounting Officer since May 2020; Head of Accounting & Financial Reporting .
- Change-of-Control Treatment (Merger with Thoma Bravo): At the effective time, vested options with exercise price below $70.00 per share and vested RSUs/PSUs convert into cash; unvested RSUs/PSUs convert into cash-based replacement awards (or, in certain non-U.S. tax circumstances, preferred shares) with performance deemed achieved at 100% of target; unvested options and underwater options are cancelled .
- Severance and Change-of-Control: Jacobs is covered by the Dayforce US, Inc. Severance Pay Plan (broad-based). Upon termination without cause or for good reason within 12 months post-change-of-control, benefits include a lump sum equal to 69 weeks of base salary plus 69 weeks of target bonus, COBRA premium payments for 16 months, and up to six months of outplacement; estimated aggregate value is $631,615 under proxy statement assumptions .
- Indemnification: Continued indemnification and D&O insurance coverage for directors and executive officers per merger agreement and organizational documents .
Investment Implications
- Alignment and Retention: Jacobs maintains meaningful exposure through unvested RSUs and ongoing participation in at-risk, performance-tied equity programs; corporate policies enhance alignment via ownership guidelines and prohibit hedging/pledging .
- Change-of-Control Dynamics: Replacement awards will vest per original schedules (with performance deemed at target) and severance for Jacobs is double-trigger, payable only if terminated within 12 months post-closing, moderating immediate change-of-control windfalls and reducing perceived “golden parachute” risk versus NEOs with bespoke contracts .
- Insider Selling Pressure: A pre-established 10b5-1 plan allows scheduled sales through October 2026; executed volumes to date are modest (e.g., 700 shares in Aug 2025; 353 shares in Oct 2025), suggesting limited near-term selling pressure relative to total beneficial holdings .
- Performance Orientation: Company-level 2024 incentive outcomes (MIP 85.59%; LTI fPSUs 97.7%; cost savings STI fPSUs at 110%) reflect strong execution across growth and profitability, likely supporting continued retention for accounting leadership through the pending privatization .