Ashutosh Kulkarni

CEO and Executive Director at Elastic

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

Shay Banon

CTO

Carolyn Herzog

CLO

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 Name	Amount	Payment Schedule	Additional Details
Base Salary	$600,000	Annual	Remained unchanged from fiscal year 2023
401(k) Contributions	$19,800	Annual	Elastic's contributions under the company's Section 401(k) plan

Performance Compensation

Data from FY 2024

Annual Cash Incentive Plan

Metric	Threshold	Target	Maximum	Actual Achievement	Payout 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 Margin	5.4% (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)

Detail	Value
Performance Metric	Total 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 Date	June 8, 2023
Grant Date Fair Value	$2,874,959
Vesting Schedule	1/3 vests at end of FY24; remaining 2/3 vest quarterly over 2 years

Restricted Stock Units (RSUs)

Detail	Value
Grant Date	December 8, 2023
RSUs Granted	72,316 units
Grant Date Fair Value	$8,374,916
Vesting Schedule	Vests 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. *