Brad Minor
ETSYAbout Brad Minor
Brad Minor is Etsy’s Chief Marketing Officer, appointed effective January 3, 2025, and age 46 per the company’s 2025 proxy biography. He joined Etsy in April 2022, serving as Global Head of Brand Marketing and Communications (Apr 2022–Jul 2024), then Vice President, Chief Brand Officer (Jul 2024–Jan 2025), before his elevation to CMO to “expand Etsy brand consideration and loyalty globally.” His appointment was part of a leadership refresh intended to “reignite growth” following 2024 headwinds; in 2024, Etsy delivered revenue up 2.2% to $2.8B, adjusted EBITDA of $781.5M (27.8% margin), and $12.6B GMS, while management emphasized initiatives to improve quality, reliability, and consideration. Minor’s 2025 remit includes evolving marketing strategies to deepen engagement and loyalty amid a broader growth push led by Etsy’s leadership team.
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Etsy | Chief Marketing Officer | Jan 2025–present | Leads global brand consideration and loyalty; part of leadership changes to strengthen engagement and reignite growth |
| Etsy | VP, Chief Brand Officer | Jul 2024–Jan 2025 | Senior brand leadership ahead of CMO elevation |
| Etsy | Global Head of Brand Marketing & Communications | Apr 2022–Jul 2024 | Led brand marketing/communications; entry to Etsy leadership bench |
| HubSpot | Global Head of Brand Marketing & Creative | Mar 2021–Apr 2022 | Drove global brand/creative at a scaled software platform |
| SiriusXM | SVP, Brand Marketing & Communications | 2018–2021 | Led brand marketing at national media platform |
| JPMorgan Chase | Managing Director, Brand, Advertising & Media | — | Senior brand/media leadership (prior to 2018) |
| American Express | VP, Global Brand, Partnerships & Communications | — | Global brand, partnerships, and communications leadership (prior to 2018) |
External Roles
- No public-company directorships disclosed in Etsy’s executive biography for Minor.
Fixed Compensation
| Component | Detail |
|---|---|
| Base salary | $420,000 per year effective Jan 3, 2025 |
| Annual bonus target | 70% of base salary, paid under MCIP; generally paid within 2.5 months after year-end |
| Annual bonus structure | 70% based on company performance; 30% based on individual performance |
| Benefits | Eligible for standard Etsy full-time employee benefits |
Performance Compensation
Annual Cash Incentive Plan (MCIP)
| Metric category | Weighting | Notes |
|---|---|---|
| Company performance | 70% | Minor’s MCIP split 70/30; Etsy historically uses GMS, revenue, and adjusted EBITDA margin as corporate metrics in MCIP design |
| Individual performance | 30% | Goals set annually; payout typically within 2.5 months post year-end |
Equity Awards (Promotion Grant and Plan Design)
| Grant/Plan | Grant date | Target value | Vehicle mix | Key terms |
|---|---|---|---|---|
| Promotion Grant (upon CMO appointment) | Proposed Mar 15, 2025 (subject to Comp Committee approval) | ~$3,500,000 FV | 70% RSUs / 30% PSUs | RSUs vest in 16 equal quarterly installments over 4 years; PSUs have terms consistent with 2025 executive team annual grants under the 2024 Equity Incentive Plan |
| RSUs (from Promotion Grant) | Mar 2025 | ~70% of $3.5M | Time-based | Vest quarterly over 4 years, continuous service required; specific vest dates in award agreement |
| PSUs (from Promotion Grant) | Mar 2025 | ~30% of $3.5M | Performance-based | Performance/vesting terms consistent with 2025 PSUs; program in 2025 extends GMS, revenue, and adjusted EBITDA margin metrics to three-year performance periods; relative TSR remains three years |
PSU Metric Framework (reference for Etsy program design)
| Grant year | Metrics | Weighting | Performance period | Status/Outcomes |
|---|---|---|---|---|
| 2023 PSUs (NEO program reference) | GMS; Revenue; Adj. EBITDA margin; Relative TSR | 25% each | GMS/Revenue/EBITDA margin: 2 years (ended 12/31/2024); Relative TSR: 3 years (ends 12/31/2025) | 93.6% earned for the completed metrics; 50% vested 4/1/2025, 50% vest 4/1/2026 (subject to service); relative TSR portion still in-flight |
| 2022 PSUs (NEO program reference) | GMS; Revenue; Adj. EBITDA; Relative TSR | 25% each | GMS/Revenue/EBITDA: 1 year (2022); Relative TSR: 3 years (ended 12/31/2024) | Aggregate payout 48% based on approved results and TSR at 33rd percentile; vesting occurred per award schedules |
Note: Minor’s 2025 PSUs follow the 2025 plan design (three-year performance periods on financial metrics and relative TSR). Specific 2025 targets and payout curves for Minor’s award were not disclosed in the available documents; terms are governed by the 2024 Equity Incentive Plan and award agreements.
Equity Ownership & Alignment
| Policy/Status | Detail |
|---|---|
| Stock ownership guidelines | Executive officers must hold the lesser of 1x base salary or 4,400 shares; compliance within five years of becoming an executive (measured at year-end); if not met, must retain 50% of net shares acquired until compliant |
| Counting rules | Includes shares owned outright, certain trusts, and vested RSUs/PSUs net of tax; excludes unvested RSUs and unexercised options |
| Hedging/pledging | Prohibited for employees, executive officers, and directors under Insider Trading Policy |
| Beneficial ownership | 2025 proxy ownership table lists directors/NEOs; Minor (a non-NEO executive) is not itemized; no Form 4s located in the indexed filings for Minor—current individual share count not disclosed in available documents |
Employment Terms
| Term | Detail |
|---|---|
| Employment status | At-will; subject to Confidentiality and Prior Inventions Agreement from Offer Letter dated Mar 23, 2022 (terms unchanged upon promotion) |
| Severance plan | Continued participation in Etsy, Inc. Executive Severance Plan (Amended and Restated, effective Jan 1, 2019) |
| Qualifying CIC termination | 12 months base salary; up to 12 months company-paid COBRA; pro-rata bonus; 100% acceleration for all outstanding RSUs and earned PSUs |
| Qualifying termination (non-CIC) | 12 months base salary; up to 12 months company-paid COBRA; pro-rata bonus |
| Plan mechanics (reference) | Plan provides salary continuation and pro-rata bonus subject to timing rules and eligibility; certain provisions differ based on timing within fiscal year |
| Clawback | Company maintains clawback policy consistent with SEC/Nasdaq; filed as Exhibit 97 to 10-K |
| Non-compete / Non-solicit | Not disclosed in the cited promotion letter or proxy; Insider Trading Policy and ownership/retention requirements apply |
Investment Implications
- Pay-for-performance and retention balance: Minor’s equity is RSU-heavy (70%) with quarterly vesting over four years, providing steady retention while maintaining at-risk exposure via PSUs (30%) tied to multi-year financial metrics and relative TSR under the 2025 program design. This mix is aligned with Etsy’s broader approach for non-CEO executives (70/30 RSU/PSU).
- Selling pressure and ownership alignment: Quarterly RSU vesting may create periodic supply, but hedging/pledging is prohibited and executives must build toward ownership guidelines (lesser of 1x salary or 4,400 shares) within five years, with a 50% post-vest retention requirement until compliant—mitigating near-term selling pressure signals. Individual Form 4 activity for Minor was not found in the indexed filings, limiting visibility into near-term trading.
- Change-in-control economics: Double-trigger CIC terms include 12 months salary, benefits, pro-rata bonus, and full acceleration of RSUs and earned PSUs—standard but meaningful protections that reduce retention risk through uncertainty and may influence incentives around strategic alternatives.
- Execution focus: Minor’s appointment sits within a broader leadership transition aimed at deepening engagement and reigniting growth after 2024 GMS headwinds; management emphasized marketing strategy shifts and mid-funnel investments. Execution on these priorities is a key lever for value creation against a backdrop of steady profitability.
- Governance safeguards: Clawback policy consistent with SEC/Nasdaq, strict anti-hedging/pledging, and stock ownership guidelines indicate strong alignment and risk controls from an incentive governance standpoint.
Sources: 2025 DEF 14A (executive bios, ownership guidelines, compensation design), 2025 PRE 14A (leadership transitions, 2024 performance), 2024/2025 10-K disclosures (promotion letter, severance plan references), and Q4 2024 earnings call commentary.