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    Josh Silverman

    CEO at ETSY Inc
    Since May 2017
    Age
    55 years
    Tenure
    Joined Etsy in May 2017 as President and Chief Executive Officer, driving strategic growth and innovation at the company.

    Also at ETSY Inc

    BM
    Brad Minor
    CMO
    CS
    Colin Stretch
    Chief Legal Officer and Secretary
    KPG
    Kruti Patel Goyal
    President and Chief Growth Officer

    About

    Josh Silverman is 55 years old and has built a reputation as a dynamic leader in the technology and online marketplace sectors. Over the years, his career has seen him take on various high-profile roles, starting with founding and leading companies such as Evite and continuing through executive positions at industry giants like eBay, Shopping.com, and Skype.

    In May 2017, he embarked on his tenure at Etsy, assuming the dual role of President and Chief Executive Officer. In this role, his strategic vision and operational expertise have been pivotal in connecting millions of buyers and sellers globally, while also fostering significant revenue and gross merchandise sales growth.

    Alongside his responsibilities at Etsy, he has served on the boards of notable companies such as Shake Shack Inc., contributing his leadership insights in corporate governance and strategic oversight. His career trajectory underlines a consistent commitment to scaling businesses and driving innovation, making him a key figure in shaping the future of online consumer marketplaces.

    $ETSY Performance Under Josh Silverman

    Past Roles

    OrganizationRoleDate RangeDetails
    Hellman & FriedmanSenior Operating Advisor2017Held role as a private equity advisor
    Greylock PartnersExecutive in Residence2016Served in a venture capital capacity
    American Express CompanyPresident of Consumer Products and Services2011 to 2015Led consumer products and services division
    SkypeChief Executive Officer2008 to 2010Oversaw company operations as CEO
    Shopping.com (an eBay company)Chief Executive Officer2006 to 2008Led the eBay company's Shopping.com division
    eBayVarious Executive RolesPre-2006Held multiple executive roles
    Evite, Inc.Co-Founder and Chief Executive Officer1998 to 2001Held role until the company’s sale

    External Roles

    OrganizationRoleDate RangeDetails
    Shake Shack Inc.Board MemberCurrentMember of the audit committee and the nominating and corporate governance committee

    Fixed Compensation

    Data from  FY 2023
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$660,000 (Actual Earned: $652,603 )Annually as of Dec 31, 2023 Annual base salary component for 2023
    All Other Compensation$44,771 2023Includes 401(k) Plan Matching of $12,200 and Health & Welfare Benefits of $32,571

    Performance Compensation

    Data from  FY 2023

    Annual Cash Incentive Program

    MetricValueDetails
    Base Salary$660,000 Used as the basis for the incentive calculation
    Target Opportunity$792,000 (120% of Base Salary) The target cash incentive opportunity for 2023
    Actual Incentive Payout$396,000 (50% of Target) Payout capped at 50% due to business performance conditions and the Restructuring Plan
    Performance Metrics & WeightsGMS: 40%, Revenue: 30%, EBITDA: 30% Corporate metrics used in the incentive formula
    GMS Threshold/Target/StretchThreshold: $12,120M, Target: $13,452M, Stretch: $14,783M Actual GMS: $13,161M resulting in a 35% weighted payout
    Revenue Threshold/Target/StretchThreshold: $2,445M, Target: $2,714M, Stretch: $2,983M Actual Revenue: $2,748M resulting in a 34% weighted payout
    EBITDA Margin Threshold/Target/StretchThreshold: 24.5%, Target: 26.0%, Stretch: 27.4% Actual EBITDA Margin: 27.4% resulting in a 60% weighted payout
    Aggregate Corporate Achievement129% Combined performance result before the cap was applied
    Individual Performance20% weighting; 0% payout No additional payout due to caps imposed by the Compensation Committee
    VestingN/AAnnual cash incentive is paid based on performance for the 2023 period [Not applicable]

    Equity Awards (RSUs & PSUs)

    MetricValueDetails
    Award TypeRSUs and PSUs Equity awards granted in 2023
    Grant DateMarch 15, 2023 Common grant date for both RSUs and PSUs
    RSUs Shares Granted69,235 Vest in eight equal semi-annual installments starting Oct 1, 2023
    PSUs Target Shares69,235 Maximum PSUs: 138,470 (200% of target)
    PSUs Performance MetricsGMS, Revenue, Adjusted EBITDA Margin, Relative TSR Metrics used to determine the final earned shares with payout range from 0% to 200%
    PSUs Vesting Schedule50% vest on April 1, 2025 and 50% on April 1, 2026 For GMS, Revenue, EBITDA components; 100% vesting on April 1, 2026 for Relative TSR-based PSUs
    Performance Period (PSUs)GMS/Revenue/EBITDA: Jan 1, 2023 - Dec 31, 2024; TSR: Jan 1, 2023 - Dec 31, 2025 Evaluation periods for the respective performance metrics
    Grant Date Fair ValueRSUs: $8,232,056; PSUs: $7,251,674 Calculated under FASB ASC Topic 718
    Grant Date Stock PriceRSUs: $104.74 per share; PSUs (Relative TSR): $161.38 per share RSUs and PSUs based on closing market prices and simulation models

    This table summarizes the performance compensation components for 2023, including both the annual cash incentive and the equity awards. All metrics, thresholds, targets, weights, and vesting schedules are reflective of the documented data for 2023.