Julie Eddleman
About Julie Eddleman
Julie Eddleman, age 54, serves as Executive Vice President and Global Chief Commercial Officer at DoubleVerify (DV) since January 2021; she notified DV of her decision to resign effective December 31, 2025 and will continue as Senior Advisor starting January 1, 2026 at $350 per hour . She holds a Master of Science in Consumer Behavior and a Bachelor of Science in Consumer Affairs from Purdue University, and previously led global partnerships at Google and centralized marketing at Procter & Gamble, with a focus on scaling commercial execution in Social, CTV and AI optimization . DV delivered 2024 revenue of $656.8 million (+15% YoY) and adjusted EBITDA of $218.9 million (+17% YoY), highlighting strong execution during her tenure .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| DoubleVerify | EVP & Global Chief Commercial Officer | Jan 2021 – Dec 2025 | Built and led an industry-leading commercial team; scaled DV into Social, CTV, and AI optimization; planned leadership transition to sustain momentum |
| Global Client Partner | Aug 2014 – Jan 2021 | Spearheaded global growth strategy for top-tier clients; deep enterprise commercial experience | |
| Procter & Gamble | Marketing Director | Jun 2008 – Jul 2014 | Led centralized marketing for North America; brand-building and operating discipline |
Fixed Compensation
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Base Salary ($) | $465,000 | $475,000 | $500,000 |
| Perquisites & Other ($) | $14,695 | $26,447 | $23,252 |
| 401(k) Contribution ($) | $0 | $8,070 | $10,350 |
| Employer Paid Health Premiums ($) | $13,411 | $15,596 | $11,618 |
| Employment Agreement Items ($) | $1,284 | $2,781 | $1,284 |
Notes:
- 2024 base salary was increased to $500,000 effective January 1, 2024 per Compensation Committee review .
- DV provides minimal perquisites; none exceeded $10,000 for NEOs in 2024 .
Performance Compensation
Annual Cash Bonus (DV Bonus Plan – FY 2024)
| Item | Value |
|---|---|
| Target Bonus (% of base) | 100% |
| Target Bonus ($) | $500,000 |
| Aggregate Payout (%) | 64% |
| Actual Bonus Paid ($) | $320,000 |
2024 Bonus Plan Performance Metrics and Outcomes
| Metric | Weighting | Threshold | Target | Maximum | Actual Achievement | Payout Level |
|---|---|---|---|---|---|---|
| Revenue | 50% | $653M (90%) | $725M (100%) | $798M (110%) | 91% | 53% |
| Adjusted EBITDA | 30% | $201M (90%) | $223M (100%) | $245M (110%) | 98% | 92% |
| KPIs (Attention, Scibids, Social, Revenue/FTE, Churn, Intl Mix) | 20% | N/A | N/A | N/A | 50% average | N/A |
| Weighted Aggregate Payout | — | — | — | — | — | 64% |
Notes:
- Payouts determined by linear interpolation between threshold/target/maximum for financial metrics .
- 2024 performance measured over the full fiscal year .
Long-Term Equity (Structure and Grants)
| Award Type | Grant Date | Performance Metric(s) | Weighting | Notes |
|---|---|---|---|---|
| PSUs | Dec 19, 2023 | Revenue; Relative TSR | 50% / 50% | PSU structure introduced; 2024 refresh moved to Q1 timing (no 2024 grants) |
| RSUs | Dec 19, 2023 | Time-based | — | As part of 2023 stock awards (aggregate fair value for Julie $3,755,357) |
| RSUs/PSUs | Mar 13, 2025 | As designated | — | Listed among “Equity Agreements”; continued service via consulting counts for vesting |
Equity Ownership & Alignment
Beneficial Ownership (as of March 25, 2025)
| Holder | Shares Beneficially Owned | Ownership % |
|---|---|---|
| Julie Eddleman | 322,008 | <1% |
Footnote context:
- Right to acquire within 60 days included in SEC beneficial ownership calculations. Julie had the right to acquire 123,861 shares prior to May 25, 2025 through option exercise and/or RSU vesting .
Outstanding Equity and Vesting Status (as of FY 2024 proxy)
| Instrument | Exercisable (#) | Unexercisable (#) | Exercise Price ($) | Expiration | RSUs Not Vested (#) | RSUs MV ($) | PSUs Unearned (#) | PSUs MV ($) |
|---|---|---|---|---|---|---|---|---|
| Options (12/12/2032) | 55,714 | 55,712 | 25.00 | 12/12/2032 | 27,496 | 528,198 | — | — |
| Options (12/10/2031) | 56,477 | 18,824 | 31.39 | 12/10/2031 | 7,964 | 152,988 | — | — |
| Equity Incentive (Unearned PSUs) | — | — | — | — | — | — | 12,322 | 236,706 |
2024 Option Exercises and RSU Vested
| Metric | FY 2024 |
|---|---|
| Options Exercised (#) | 0 |
| Value Realized on Exercise ($) | $0 |
| RSUs Vested (#) | 83,140 |
| Value Realized on Vesting ($) | $2,095,925 |
Ownership Policies
- Stock Ownership Guidelines: Executive officers must hold qualifying equity equal to a multiple of base salary; required to hold 50% of net shares from awards until guidelines are met; reviewed annually by Compensation Committee .
- Hedging/Pledging: Prohibited from short sales and derivatives; pledging or hedging requires pre-clearance with the Chief Legal Officer; 30-day notice for hedging, two-week notice for pledging .
Employment Terms
Employment Agreement – Key Terms
| Term | Provision |
|---|---|
| Term | At-will (no fixed term) |
| Base Salary | $500,000 (2024 rate) |
| Target Bonus | 100% of base (max 150%) |
| Equity Entitlement | 262,882 RSUs under 2017 Equity Plan (all granted) |
| Non-Compete/Non-Solicit | Effective during employment and for at least one year post-termination |
| Severance (Qualifying Termination) | $500,000 cash + $38,008 benefits (Dec 31, 2024 basis) |
| Severance (CIC + Qual. Term.) | $500,000 cash + $2,175,225 equity accel + $38,008 benefits; total $2,713,233 |
| CIC Vesting | Double-trigger for options/RSUs granted 2022+; PSUs convert to time-based RSUs only on double-trigger |
| Death/Disability | RSUs granted pursuant to employment agreement accelerate on death; PSUs pay at target if event during performance period |
| Tax Gross-ups | No excise tax gross-ups; no perquisite tax gross-ups beyond standard relocation |
2025 Separation and 2026 Consulting
- Separation Agreement (effective Sept 15, 2025) provides continued base salary through Dec 31, 2025 and eligibility for FY 2025 bonus per plan; consulting service counts as “Service” for vesting of specified RSUs, options and PSUs; clawback and continued compliance conditions apply .
- Consulting Agreement: Effective Jan 1, 2026; initial ~6-month term; DV may terminate on 30 days’ notice (or immediately for Cause); Consultant may terminate for uncured material breach; compensation at $350/hour .
Clawback Policies
- Complies with Exchange Act Rule 10D-1 and NYSE; mandatory recovery of erroneously awarded incentive-based compensation within a three-year lookback regardless of misconduct .
- Additional recovery/forfeiture policy for fraud, misconduct, gross negligence, inaccurate metrics, or reputational harm .
Governance and Say-on-Pay
- Independent Compensation Committee; independent advisor engaged; multi-year vesting and stock ownership guidelines .
- Say-on-Pay approval: Approximately 93.5% support at 2024 annual meeting for 2023 program; annual say-on-pay cadence .
Compensation Structure Analysis
- Shift toward cash in 2024: No annual “refresh” equity awards in 2024 due to timing transition; bonuses paid at 64% of target reflecting near-target EBITDA but below-target revenue .
- Equity risk alignment maintained: Double-trigger CIC vesting from 2022 onward; no option repricing; no excise tax gross-ups .
- Metric calibration: 2024 plan maintained same metrics/weights as 2023; revenue and adjusted EBITDA had symmetric threshold/target/maximum tiers; aggregate payout disciplined at 64% .
Investment Implications
- Retention and transition: Planned departure with consulting arrangement that counts as service for vesting reduces near-term forfeiture risk and supports continuity across 1H 2026; insider selling pressure likely tempered given continued service for vesting and no 2024 refresh grants .
- Alignment: Beneficial ownership of 322,008 shares, meaningful outstanding options/RSUs, and stock ownership/anti-hedging policies indicate alignment with long-term value creation; double-trigger CIC limits windfalls and aligns outcomes with shareholder scenarios .
- Pay-for-performance: 2024 bonus payout at 64% driven by 91% revenue and 98% adjusted EBITDA achievement shows sensitivity to operational performance; introduction of PSUs with revenue and relative TSR metrics enhances long-term performance linkage .
- Risk flags: No excise tax gross-ups, no option repricing, and formal clawbacks mitigate governance risk; non-compete/non-solicit and succession planning disclosed reduce execution risk during transition .