Nicola Allais
About Nicola Allais
Nicola Allais is Chief Financial Officer of DoubleVerify (DV), serving since November 2017, age 52 as of April 10, 2025 . He holds an MBA from Columbia Business School and a BA from Princeton University . DV’s 2024 performance included revenue of $656.8 million (+15% YoY) and Adjusted EBITDA of $218.9 million (+17% YoY), with net cash from operations of $159.7 million and net income of $56.2 million, reflecting operational execution under the leadership team that includes the CFO . DV’s executive pay program emphasizes pay-for-performance via annual bonuses tied to Revenue, Adjusted EBITDA, and KPIs, and long-term PSUs with Revenue and relative TSR metrics vs the Russell 3000 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Penton (acquired by Informa PLC) | Chief Financial Officer | 2010–2017 | Led finance at information services company through sale to Informa; scaled finance operations |
| Downtown Music | Chief Financial Officer | Not disclosed | Senior finance leadership in media/music; broadened sector experience |
| Primedia | Finance roles | Not disclosed | Media finance experience |
| Home Box Office (HBO) | Finance roles | Not disclosed | Premium media finance exposure |
| Ernst & Young LLP | Audit/finance | Not disclosed | Public accounting foundation |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| DoubleVerify Ltd. (United Kingdom) | Director | Since 2018 (WSJ profile) | External directorship related to DV’s UK entity |
Fixed Compensation
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary ($) | $400,000 | $475,000 | $500,000 |
| Target Bonus % of Salary | 60% | 60% | 75% (increased for 2024) |
| Target Bonus ($) | $240,000 | $285,000 | $375,000 |
| Annual Bonus Paid ($) | $268,800 | $355,775 | $240,000 (64% of target) |
Notes:
- No annual “refresh” equity grants were made in 2024 due to timing shift to Q1 2025 .
Performance Compensation
| Component | Metric | Weighting | Target | Actual (2024) | Payout % | Vesting/Settlement |
|---|---|---|---|---|---|---|
| Annual Bonus (2024) | Revenue (GAAP) | 50% | $725m | 91% achievement → 53% payout | 53% | Approved Feb 2025; paid in cash |
| Annual Bonus (2024) | Adjusted EBITDA | 30% | $223m | 98% achievement → 92% payout | 92% | Approved Feb 2025; paid in cash |
| Annual Bonus (2024) | KPIs (Attention, Scibids, Social, R/FTE, churn, intl mix) | 20% | Pre-set targets | 50% avg achievement | Incorporated | Approved Feb 2025; paid in cash |
| Bonus Aggregate | Blended | — | — | — | 64% overall payout | Paid per 2024 plan |
| 2025 LTI Grant | PSUs (Revenue) | ~50% of LTI value | 95%/100%/105% threshold/target/max | 2025 performance to be certified | 0/50/100/150% units earned | 1/3 vests at certification; remainder vests quarterly in 2026–2027 |
| 2025 LTI Grant | PSUs (Relative TSR vs Russell 3000) | ~50% of LTI value | 33rd/55th/90th percentile threshold/target/max | 3-year period ending 12/31/2027 | 0/50/100/200% units earned | Vests at end of 3-year period |
Additional LTI details:
- 2025 total LTI grant value for Allais: $4,000,000 (approx., split ~50% PSUs/~50% RSUs; number of units based on 20-day average share price at grant) .
- RSUs vest 6.25% on 3/15/2025 and 6.25% quarterly thereafter for 15 quarters (4-year schedule) .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership | 1,341,481 shares; less than 1% of outstanding |
| Right to Acquire within 60 days | 1,242,642 shares via options/RSUs by May 25, 2025 |
| Unvested RSUs (as of 12/31/2024) | 32,496 units ($624,248 MV at $19.21) |
| PSUs outstanding (target counts) | 16,180 TSR PSUs; 12,864 TSR PSUs; 36,408 Revenue PSUs (see earning note) |
| Revenue PSUs (2023 grant) | 53% of target earned; 41.67% vested on 3/15/2025; remaining earned units vest 8.33% quarterly thereafter |
| Options — Exercisable/Unexercisable | 65,846 exercisable / 65,840 unexercisable @ $25.00 exp 12/12/2032 ; 70,596 exercisable / 23,531 unexercisable @ $31.39 exp 12/10/2031 ; 19,410 exercisable @ $31.39 exp 12/10/2031 ; 289,256 exercisable @ $2.01 exp 1/4/2028 ; 801,883 exercisable @ $2.01 exp 1/4/2028 |
| 2024 Option Exercises | 100,944 shares exercised; $2,285,999 value realized |
| Ownership Guidelines | Executives must hold qualifying equity equal to a multiple of salary; must hold 50% of net shares from awards until guidelines met; reviewed annually |
| Hedging/Pledging | Prohibited without pre-clearance by Chief Legal Officer; short sales and derivatives prohibited |
| 10b5-1 Trading Plan | Adopted March 4, 2025 to sell up to 160,000 shares through Nov 28, 2025 |
Employment Terms
| Term | Nicola Allais |
|---|---|
| Employment Agreement | No fixed term; at-will |
| 2024 Base Salary | $500,000 |
| Target Bonus | 60% in agreement; set at 75% for 2024 |
| Non-Compete / Non-Solicit | In effect during employment and for at least 1 year post-termination |
| Severance (Qualifying Termination) | 12 months base salary; continued medical/dental/vision for 12 months |
| Change-in-Control (CIC) Treatment | Double-trigger: PSUs convert to time-based RSUs at ≥target or actual, vest per schedule; vesting accelerates upon qualifying termination within 12 months post-CIC |
| Potential Payments (as of 12/31/2024) | Qualifying termination (no CIC): $500,000 cash + $38,008 benefits = $538,008 ; Qualifying termination in connection with CIC: $500,000 cash + $2,072,797 equity acceleration + $38,008 benefits = $2,610,805 |
| Clawback | Complies with SEC Rule 10D-1/NYSE; recovery of erroneously awarded incentive comp; broader misconduct-based recovery policy also in place |
| Deferred Compensation | No NQDC contributions or balances reported for Allais in 2024 |
| Perquisites | Minimal; 401(k) match $10,350; employer-paid health premiums $11,618 (2024) |
| Tax Gross-Ups | None for CIC/perquisites (except standard relocation) |
Say-on-Pay & Governance
- 2024 Say-on-Pay approval for 2023 compensation: ~93.5% support .
- Independent Compensation Committee; independent consultant (Compensia) engaged; peer group and Radford survey used for competitive analysis .
- Stock repurchase programs active in 2024–2025; CFO commentary raised FY25 Adjusted EBITDA margin guidance to 33% on Nov 7, 2025, signaling discipline and scalability .
Investment Implications
- Alignment: Cash bonus and PSU structure directly tie pay to revenue, Adjusted EBITDA, and multi-year relative TSR, with double-trigger CIC protection and a robust clawback—positive for pay-for-performance and shareholder alignment .
- Retention: 4-year RSU vesting and multi-year TSR PSU horizon support retention; severance of 12 months base and benefits is moderate; no tax gross-ups reduce governance risk .
- Selling Pressure: A Rule 10b5-1 plan to sell up to 160,000 shares through Nov 28, 2025 could create near-term insider supply; monitor Form 4s and plan activity versus buyback offsets .
- Execution: 2024 revenue and EBITDA growth alongside CFO’s margin guidance uplift in 2025 indicate operating leverage; continued PSU calibration (Revenue/TSR) and buybacks reflect confidence in cash generation .