Steve Mougis

About Steve Mougis

Steve Mougis is DoubleVerify’s Global Chief Growth Officer in 2025 and will assume the role of Global Chief Commercial Officer on January 1, 2026; he has held multiple senior commercial roles at DV since 2012, including prior service as Global Chief Revenue Officer . He holds a B.S. in Entrepreneurship from Duquesne University . Under DV’s commercial leadership, the company delivered Q2 2024 revenue of $156M (+17% YoY) with adjusted EBITDA of $47M and a 30% margin; management also highlighted growth across social, CTV, and open web in Q1 2025, initiatives that Mougis has publicly presented and supported .

Past Roles

External Roles

Fixed Compensation

Performance Compensation

DV’s executive long-term incentive design (applies to executive officers, including but not limited to NEOs) uses a 50/50 split between Revenue PSUs and Relative TSR PSUs; RSUs are time-based and vest over multi-year schedules. While Steve’s individual grant sizes are not disclosed, the structures and metrics below indicate how his incentives are likely aligned if he participates in the standard plans.

• 2024 PSU design (executive officers):

  • Revenue PSUs: 1-year revenue performance; 0% payout below 90% of target, 50% at 90%, 100% at 100%, 150% at 110% (linear between points) .
  • Relative TSR PSUs: relative to Russell 3000; one-third measured over 1, 2, and 3 years; 0% below 33rd percentile, 50% at 33rd, 100% at 55th, 200% at 90th (linear between points) .

• 2025 PSU design (executive officers):

  • Revenue PSUs: 1-year revenue; 0% below 95%, 50% at 95%, 100% at 100%, 150% at 105% (linear) .
  • Relative TSR PSUs: 3-year performance vs Russell 3000; same 0/50/100/200% at 33rd/55th/90th percentiles (linear) .

• RSU vesting standard (time-based, executive officers):

  • 2023 awards: 6.25% on Mar 15, 2024, then 6.25% quarterly for 15 quarters (four-year schedule) .
  • 2025 awards: 6.25% on Mar 15, 2025, then 6.25% quarterly for 15 quarters (four-year schedule) .

• Change-in-control treatment (plan-level):

  • Time-based awards granted 2022+ use double-trigger (CIC plus qualifying termination) for acceleration; pre-2022 time-based awards would generally accelerate at CIC .
  • PSUs convert to time-based RSUs at ≥target or actual for revenue PSUs; TSR PSUs convert based on performance through closing; then vest per original schedule, with double-trigger acceleration if terminated within 12 months post-CIC .

2024 PSU Calibration

2025 PSU Calibration

Equity Ownership & Alignment

• Stock ownership guidelines (company-wide): CEO 5x base salary; all other executive officers 3x base salary; requires holding 50% of net-after-tax shares from award settlements until the guideline is met .
• Hedging/pledging: Pre-clearance required for any hedging or pledging; short sales and derivatives are prohibited under the policy .
• Clawbacks: Mandatory clawback compliant with SEC/NYSE for erroneously awarded incentive compensation; additional company policy allows recovery for misconduct, inaccurate metrics, or material errors causing financial/reputational harm .
• Beneficial ownership: Steve Mougis is not listed in the beneficial ownership tables that cover 2023–2025 directors and NEOs; individual share counts for him are not disclosed in those proxy tables .

Note on insider selling pressure/vesting cadence:

• RSU vesting is quarterly (typical March/June/September/December 15) for standard DV grants, which often results in periodic net share settlements for taxes and related Form 4 activity; monitor those dates for potential selling pressure if and when Mougis receives RSU grants .

Employment Terms

Performance & Track Record

• Commercial execution: DV’s go-to-market shifted from point solutions to a platform approach (“attach, stack and scale”), supporting bundled selling and larger enterprise wins; management cited wins like Kenvue and Microsoft in recent investor sessions featuring DV’s commercial leaders, including Mougis .
• Product leadership (Programmatic Analytics): Mougis has presented DV’s Programmatic Analytics as a differentiator linking verification data with DSP supply-path insights to reduce fraud and waste—an important lever in platform upsell and performance outcomes .
• Company operating momentum: DV reported Q2 2024 revenue of $156M (+17% YoY) and adjusted EBITDA of $47M (30% margin) as the business scaled Activation and Social offerings; these trends underpin the commercial motion Mougis oversees . In Q1 2025, DV highlighted growth in Social activations (Meta/TikTok), 43% YoY CTV measurement volume growth, and expansion into outcome-linked offerings with Scibids AI—areas central to commercial strategy .

Investment Implications

• Alignment: DV’s executive incentive design emphasizes revenue growth and multi-year relative TSR (50/50 PSUs), with RSUs vesting over four years—structures that strongly align senior leaders, including Mougis, with growth and shareholder returns .
• Retention risk: Quarterly RSU vesting and double-trigger CIC provisions balance retention with marketability; clawback and ownership guidelines further reinforce alignment. Watch for a future 8-K or proxy disclosure of Mougis’s CCO compensation package to assess any step-up in cash/equity and severance economics .
• Trading signals: If/when Mougis receives standard RSU/PSU awards, quarterly vest dates (around Mar/Jun/Sep/Dec 15) can create predictable Form 4 activity (tax withholding or sales), potentially adding modest near-date supply; monitoring Forms 4 around these dates is prudent .
• Execution lens: His long DV tenure (since 2012) and progression from programmatic sales leadership to CRO and now CCO designate him as a key operator for scaling platform-led revenue; continued traction in Social/CTV and outcome-based offerings will be important markers for incentive realization and equity value creation .