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    Ashutosh Kulkarni

    CEO and Executive Director at Elastic NV
    Board
    Since January 2022
    Age
    49 years
    Education
    Earned a B.E. in Engineering from the University of Mumbai, an M.S. in Computer Engineering from the University of Texas at Austin, and an M.B.A. from the University of California, Berkeley.
    Tenure
    Joined as Chief Product Officer in January 2021, promoted to Chief Executive Officer in January 2022, and elected to the board of directors in March 2022.

    Also at Elastic NV

    SB
    Shay Banon
    CTO
    CH
    Carolyn Herzog
    CLO
    EP
    Eric Prengel
    Interim CFO

    About

    Ashutosh Kulkarni has established a strong footprint in the technology industry through diverse senior leadership roles. His journey reflects a deep commitment to innovative product development and strategic execution that has consistently driven operational growth.

    Before his tenure at Elastic, he played a pivotal role at companies such as McAfee Corp. and Akamai Technologies, where his leadership in product management and engineering underscored his ability to navigate complex market challenges.

    At Elastic, his rapid ascent from Chief Product Officer to Chief Executive Officer, bolstered by his induction into the board of directors, illustrates a career marked by significant milestones and impactful transformations.

    Complementing his professional achievements, his robust academic credentials empower him with the technical expertise and strategic insight necessary for success in the evolving tech landscape.

    $ESTC Performance Under Ashutosh Kulkarni

    Past Roles

    Organization Role Date Range Details
    Elastic Chief Product Officer (CPO) January 2021 to January 2022 Held before becoming CEO and Executive Director
    McAfee Corp. Executive Vice President and Chief Product Officer, Enterprise Business Group October 2018 to December 2020 Industry: Cybersecurity services
    Akamai Technologies, Inc. Senior Vice President and General Manager, Web Performance and Web Security division August 2016 to October 2018 -
    Akamai Technologies, Inc. Senior Vice President and General Manager, Web Experience division August 2015 to August 2016 -
    Informatica Various senior leadership, product management, product marketing, and engineering roles N/A Industry: Data integration and management
    Sun Microsystems Various senior leadership, product management, product marketing, and engineering roles N/A Industry: Computer systems and software

    Fixed Compensation

    Data from  FY 2024
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$600,000AnnualRemained unchanged from fiscal year 2023
    401(k) Contributions$19,800AnnualElastic's contributions under the company's Section 401(k) plan

    Performance Compensation

    Data from  FY 2024

    Annual Cash Incentive Plan

    MetricThresholdTargetMaximumActual AchievementPayout Percentage
    Cloud Revenue$450M (50% payout) $563M (100% payout) >$675M (150% payout) $548M (97.3% attainment, 93.3% payout) See above
    Total Revenue$1,028M (50% payout) $1,285M (100% payout) >$1,542M (150% payout) $1,267M (98.6% attainment, 96.6% payout) See above
    Non-GAAP Operating Margin5.4% (50% payout) 10.4% (100% payout) >15.4% (150% payout) 11.2% (107.9% attainment, 108.3% payout) See above

    Total Annual Cash Incentive Award: $598,175 (includes a prorated mid-year portion).

    Performance Share Units (PSUs)

    DetailValue
    Performance MetricTotal Revenue
    Threshold$1,028M for 50% payout
    Target$1,285M for 100% payout
    Maximum$1,542M for 200% payout
    PSUs Granted (Target)42,007 units
    Actual PSUs Earned≈40,547 units (97% of target)
    Grant DateJune 8, 2023
    Grant Date Fair Value$2,874,959
    Vesting Schedule1/3 vests at end of FY24; remaining 2/3 vest quarterly over 2 years

    Restricted Stock Units (RSUs)

    DetailValue
    Grant DateDecember 8, 2023
    RSUs Granted72,316 units
    Grant Date Fair Value$8,374,916
    Vesting ScheduleVests quarterly over 4 years

    *The Annual Cash Incentive Plan ties executive cash awards to company performance against key metrics (Cloud Revenue, Total Revenue, and Non-GAAP Operating Margin) over the fiscal year, while the PSU and RSU components form the long-term equity performance compensation. Evaluation periods and vesting schedules are designed to align both short- and long-term shareholder interests. *