Suzy Seandel
Chief Accounting Officer at EGHT
Executive
About Suzy Seandel
Suzy Seandel, age 60, is Chief Accounting Officer of 8x8 (EGHT), serving since May 2022. She holds a B.S. in Finance from Santa Clara University and is a Certified Public Accountant in California . Company performance during FY2025: revenue declined 2% to $715M, GAAP operating profit was $15.2M (2% margin), and cash flow from operations was $64M; service revenue from the core 8x8 base grew 3% YoY, while AI-powered solutions sales grew 60% . Over the SEC “pay-versus-performance” measurement window (from April 1, 2020 base), $100 invested in EGHT was valued at $15.54 by FY2025; peer index value stood at $206.88 .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| 8x8, Inc. | Chief Accounting Officer | May 2022 – Present | — |
| Barracuda Networks, Inc. | VP, Corporate Controller | Feb 2019 – May 2022 | — |
| Cavium, Inc. | Chief Accounting Officer | Jan 2007 – Oct 2018 | — |
| Deloitte & Touche LLP | Assurance and audit services (nearly five years) | — | — |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| — | — | — | No public company directorships disclosed |
Fixed Compensation
| Fiscal Year | Base Salary ($) | Target Bonus % | Actual Annual Cash Incentive ($) | All Other Compensation ($) |
|---|---|---|---|---|
| 2023 | 300,769 | — | 119,772 (Non-Equity Incentive) | 23,984 |
| 2024 | 352,423 | — | 77,916 (Non-Equity Incentive) | 14,814 |
| 2025 | 357,000 | — | 0 (Annual cash incentive plan suspended) | 20,896 |
Notes:
- EGHT suspended the FY2025 annual cash incentive plan company-wide; FY2026 AIP reinstated with metrics (service revenue, net new annual subscription revenue, operating income) .
Performance Compensation
- FY2025 annual equity awards (grant date: Sept 15, 2024): RSUs and PSUs (50%/50% mix at target) .
- PSU metric and framework: Cumulative Cash Flow From Operations (CFFO) over 3-year period (4/1/2024–3/31/2027); interim measurement each fiscal year with up to 66% vestable after FY2025. Threshold at $50M CFFO; target at $150M CFFO for 100% earn-out by end of performance period .
- FY2025 actual: CFFO of $63M; 42% of 2025 PSU target earned and then time-vested within 75 days of FY-end .
| Award | Metric | Weight | Target | Actual/Payout | Vesting mechanics |
|---|---|---|---|---|---|
| PSU (2025 EPP) granted 9/15/2024 (70,000 target) | CFFO (cumulative) | 100% | $50M = 33% (year 1), $100M = 66% (year 1 cap); $150M = 100% (3-year) | FY2025 CFFO $63M → 42% earned (29,400 shares) | Earned portion vests within 75 days of FY-end; max 66% vestable after FY2025 |
| RSU (time-based) granted 9/15/2024 (70,000) | Service | — | — | — | 1/3 on 1st anniversary; remainder in 8 equal quarterly installments |
| PSU (2024 EPP) granted 6/15/2023 (66,666 target) | Absolute stock price hurdles | 100% | +130% price = 100% earned | Below threshold in FY2025; 0% earned to date | |
| PSU (2023 EPP) granted 6/15/2022 | Relative TSR vs S&P Software & Services | 50% tranches | 50th percentile = 100% payout | First tranche 0%; second tranche to be determined at 6/15/2025 |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | 197,121 shares; <1% of outstanding |
| Shares outstanding (5/29/2025) | 135,092,912 |
| Ownership as % of outstanding | ≈0.15% (197,121 / 135,092,912) |
| Vested vs unvested (as of 3/31/2025) | Unvested RSUs: 40,575 (7/15/2022), 27,778 (6/15/2023), 70,000 (9/15/2024) |
| Earned but unvested PSUs (FY2025 first tranche) | 29,400 (earned at 42% of 70,000; vests on certification; time-vested in May 2025) |
| Unearned PSUs at target | 66,666 (2024 EPP); 40,600 (2025 EPP remaining) |
| Stock ownership guidelines | Executives: 1x base salary (within 5 years of appointment); CEO: 6x base salary |
| Hedging/pledging | Prohibited for employees and directors |
| Clawback | Nasdaq Rule 10D-1–compliant policy; plus plan-level misconduct clawback |
| ESPP participation | Shares purchased to date: 25,041; estimated current interval: 1,601 |
Employment Terms
- Employment at will; participates in Executive Change‑in‑Control and Severance Policy (amended May 13, 2021). Policy is double-trigger for CIC; no single-trigger vesting .
| Scenario | Cash | Equity acceleration | Benefits | Total |
|---|---|---|---|---|
| CIC + qualifying termination | $357,000 (100% base) | $276,706 (includes portion of 2025 EPP PSUs earned to date and time-based awards) | $12,294 | $646,000 |
| Non‑CIC qualifying termination | $178,500 (50% base) | $0 (no equity acceleration) | $6,147 | $184,647 |
Key policy mechanics:
- CIC treatment: Performance criteria deemed satisfied as of CIC date; time-based vesting continues; on termination in connection with CIC, 100% acceleration of time-based equity; cash = 100% base + 100% target bonus (though FY2025 AIP was suspended) .
- Non‑CIC termination: Cash = 50% of base; COBRA for six months; no equity acceleration .
- No gross‑ups; no single‑trigger acceleration .
Investment Implications
- Pay-for-performance linkages are tight: FY2025 AIP was suspended and 2022–2024 PSU cohorts largely tracked below thresholds, reducing realizable pay; only 42% of FY2025 PSUs earned on $63M CFFO, aligning incentives to cash generation and deleveraging .
- Vesting cadence suggests periodic equity settlements: RSUs vest 1/3 at first anniversary and quarterly thereafter; PSUs earned annually based on cumulative CFFO with time‑vest shortly after fiscal year-end (up to 66% after year one), creating a predictable settlement schedule for modeling dilution and potential supply, though EGHT implemented net share withholding for NEO tax obligations to reduce new share issuance by ~175,000 shares in FY2025 .
- Alignment and retention: Executive ownership requirement (1x salary) within five years plus Seandel’s beneficial ownership (197,121 shares) indicate skin-in-the-game; however, below-threshold PSU cohorts (2022–2024) and share price underperformance (value of $100 invested → $15.54 by FY2025) may pressure realized compensation, a potential retention risk mitigated by FY2025 PSU cash‑flow focus and resumed FY2026 cash incentives .
- Governance risk low on compensation: Hedging/pledging prohibited; clawback policy in place; no option repricing without shareholder approval; Say‑on‑Pay support was 98% in 2024, indicating shareholder alignment with program design .
Data Appendix
Multi‑Year Compensation (Named Executive Officer: Suzy Seandel)
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Salary ($) | 300,769 | 352,423 | 357,000 |
| Bonus ($) | — | — | — |
| Stock Awards ($) | 1,107,675 | 498,662 | 263,200 |
| Non‑Equity Incentive ($) | 119,772 | 77,916 | — |
| All Other Compensation ($) | 23,984 | 14,814 | 20,896 |
| Total ($) | 1,552,200 | 943,815 | 641,096 |
FY2025 Grants (dated Sept 15, 2024)
| Award | Number of Shares | Grant Date Fair Value ($) |
|---|---|---|
| RSU | 70,000 | 131,600 |
| PSU (target) | 70,000 | 131,600 |
FY2025 PSU Payouts/Earned
| Plan | Target Shares | Performance Achievement (%) | Earned Shares |
|---|---|---|---|
| 2025 EPP (CFFO) | 70,000 | 42% | 29,400 |
| 2024 EPP (Stock Price) | 66,666 | —% (below threshold) | — |
Outstanding Equity at FY2025 Year-End (3/31/2025)
| Type | Shares |
|---|---|
| Unvested RSUs (7/15/2022) | 40,575 |
| Unvested RSUs (6/15/2023) | 27,778 |
| Unvested RSUs (9/15/2024) | 70,000 |
| Earned but unvested PSUs (2025 first tranche) | 29,400 |
| Unearned PSUs at target (2024 EPP) | 66,666 |
| Unearned PSUs at target (2025 EPP balance) | 40,600 |
Company Performance Context (FY2025)
| Metric | FY2025 |
|---|---|
| Revenue | $715M (−2% YoY) |
| GAAP Operating Profit | $15.2M (2% margin) |
| Cash Flow from Operations | $64M |
| Service Revenue (core 8x8 base) | +3% YoY |
| AI‑powered solutions sales | +60% YoY |
| “$100 investment” value (Company TSR) | $15.54 |
| “$100 investment” value (Peer TSR) | $206.88 |