Eric Remer
About Eric Remer
Eric Remer, age 53, is EverCommerce’s Founder, Chief Executive Officer (since October 2016) and Chairman of the Board; he holds a B.A. in History from the University of Michigan . Under his leadership, EverCommerce reported 2024 revenue above guidance and achieved 25.3% adjusted EBITDA margins (pro forma for fitness divestiture), expanding margins by 230 bps YoY, alongside 9% payments revenue growth, $12.6B TPV, and ~740,000 customers . In 2023, the company grew total revenue by 9%, expanded adjusted EBITDA margins to 23% (+380 bps YoY), grew levered free cash flow 74% (12% of revenue), and increased payments revenue by 28% with TPV of $11.9B and ~708,000 customers .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| EverCommerce Inc. | Founder, CEO, Director (Chairman) | 2016–present | Founder-CEO providing historical knowledge, operational expertise, and continuity . |
| PaySimple (now part of EverCommerce) | Co-Founder & CEO, Director | 2006–2016 | Built SMB payments/business management platform integrated into EverCommerce . |
| Conclave Group LLC | Founder & CEO | 2002–2005 | Direct marketing services company leadership . |
| I-Behavior LLC | Co-Founder | 1998–2002 | Behavioral targeting and database marketing venture . |
External Roles
No public company directorships or external board roles for Mr. Remer were disclosed in the latest proxies .
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | $650,000 | $650,000 |
| Target Bonus ($) | $585,000 | $585,000 |
| Actual Bonus Paid ($) | $687,375 | $599,625 |
Performance Compensation
Annual Cash Bonus Metrics
| Metric | Weight 2023 | Weight 2024 | Payout 2023 (% of Target) | Payout 2024 (% of Target) |
|---|---|---|---|---|
| Adjusted EBITDA | 45% | 50% | 117.5% | 102.5% |
| Annual Company Revenue | 45% | 50% | 117.5% | 102.5% |
| In-Year Reported Revenue | 10% | — | 117.5% | — |
Notes:
- Specific numerical targets or actual financials used in bonus calculations were not disclosed in the proxy narratives .
Equity Awards and Vesting
| Award Type | Grant Date | Shares/Units | Vesting Schedule | Performance Condition | Status/Notes |
|---|---|---|---|---|---|
| RSUs | March 2023 | 491,927 | 16 ratable quarterly installments; 100% by 4th anniversary; change-in-control acceleration on qualifying termination | Time-based | Active per plan |
| RSUs | February 2024 | 501,028 | 16 ratable quarterly installments; 100% by 4th anniversary; change-in-control acceleration on qualifying termination | Time-based | Active per plan |
| Performance Options (3x) | 2023 | — | Stock price VWAP over set periods | Target $27.4068 | Not achieved; forfeited |
| Performance Options (4x) | 2023 | — | Stock price VWAP over set periods | Target $36.5424 | Not achieved; forfeited |
Equity Ownership & Alignment
Beneficial Ownership (SEC definition)
| Category | As of Apr 23, 2024 | As of Apr 22, 2025 |
|---|---|---|
| Total Beneficial Ownership (shares) | 15,772,508 | 15,566,519 |
| Ownership (% of outstanding) | 8.2% (of 186,200,763 shares) | 8.2% (of 183,089,398 shares) |
| Direct shares | 251,101 | 449,903 |
| Buckrail Partners LLC (controlled by Remer) | 8,148,663 | 7,525,356 |
| EMJ Remer Family Trust | 1,000,000 | 1,000,000 |
| Remer Family Trust | 35,000 | 35,000 |
| Remer Irrevocable Educational Trust | 28,999 | 28,999 |
| Eric Remer Fidelity IRA | 24,360 | 24,360 |
| Options exercisable/will vest within 60 days | 6,209,598 | 6,396,801 |
| RSUs vesting within 60 days | 74,787 | 106,100 |
Outstanding Unvested Equity at FY-end
| Metric (as of 12/31/2024) | Value |
|---|---|
| Unvested RSUs (units) | 774,316 |
| Market Value of Unvested RSUs ($) | $8,525,219 (based on $11.01 close) |
Alignment and Policies:
- Anti-hedging policy prohibits hedging and similar transactions for directors/officers/employees .
- Pledging policy was not disclosed in the proxy documents reviewed .
- Management Stockholders Agreement previously limited certain Remer share transfers; these restrictions terminate on the third anniversary of the IPO (July 2024) .
Insider Transactions/Pressure:
- Company repurchased 1,401,472 shares in aggregate from several executives (including Eric Remer) on Dec 19, 2023 at $9.82/share under a board-approved program .
- The company disclosed two late Form 4 filings for Eric Remer since year-end, indicating administrative timing issues but not necessarily volume trends .
Employment Terms
| Term | Detail |
|---|---|
| Agreement | Effective at IPO (Remer Employment Agreement) |
| Base Salary | $650,000 |
| Target Annual Bonus | $585,000 (raised from $525,000 in 2022) |
| Severance (Non-CIC) | 12 months’ base salary; pro rata target bonus; up to 12 months COBRA; acceleration of time-based awards that would vest in 12 months; performance awards remain eligible based on actual achievement |
| CIC Protection | If terminated without Cause or for Good Reason within 1 month before or 12 months after a change-in-control: same severance terms; time-based awards granted prior to the CIC fully accelerate (double-trigger) |
| 280G Cutback | Payments reduced if necessary to avoid excise tax, if net after-tax is higher |
| Restrictive Covenants | Perpetual confidentiality; 1-year non-compete and non-solicit post-termination |
| Clawback | Company-wide clawback policy compliant with SEC/Nasdaq for restatements |
Board Governance
- Dual roles: Chairman and CEO; Board determined combined roles are appropriate; a Lead Independent Director (Richard A. Simonson) is appointed to balance governance .
- Committee service: Remer serves on the Nominating and Corporate Governance Committee; in 2025, the committee is chaired by John Rudella .
- Independence: Remer is not independent under Nasdaq rules; the company qualifies as a “controlled company” due to PSG/Silver Lake voting power and relies on certain governance exemptions .
- Attendance: 5 Board meetings in FY2024; each director attended at least 85% of Board/committee meetings .
- Stockholder agreements: The Management Stockholders Agreement requires EverCommerce to nominate Remer as a director while CEO (or until specified ownership thresholds or termination for cause) . Sponsor agreements grant PSG and Silver Lake director designation and certain consent rights while ownership thresholds are maintained .
Compensation Structure Analysis
- Greater equity-heavy pay: RSUs are primary long-term incentives with time-based vesting over 4 years, creating strong retention mechanics; annual RSU grants in 2023 (491,927 units) and 2024 (501,028 units) are sizable .
- Outcome-linked cash: Annual cash bonus is tied to adjusted EBITDA and revenue—payouts of 117.5% of target in 2023 and 102.5% in 2024 indicate performance above target followed by near-target execution .
- Performance options scrutiny: 2023 price-VWAP performance options were forfeited as targets were not met, reducing leverage to stock-price outcomes and emphasizing RSUs vs. options (lower risk for the executive) .
- Governance safeguards: No personal tax gross-ups; formal clawback; anti-hedging policy .
Performance & Track Record
- Strategic execution: 2024 transformation and optimization efforts, exit of fitness solutions, pursuit of strategic alternatives and planned sale of Marketing Technology solutions to sharpen focus on SaaS verticals and margins .
- Financial outcomes: 2024 adjusted EBITDA margin of 25.3% (pro forma) with 230 bps YoY expansion; payments revenue +9% YoY; TPV $12.6B; ~740k customers .
- Prior year trajectory: 2023 revenue +9%; adjusted EBITDA margin 23% (+380 bps YoY); levered FCF +74% (12% of revenue); payments revenue +28%; TPV $11.9B; ~708k customers .
- Leadership changes: CFO transition in 2024 (Thompson resigned; Siurek appointed), with Thompson’s separation benefits as disclosed .
Risk Indicators & Related Party
- Controlled company status and sponsor consent rights for major actions (e.g., change-in-control, CEO changes, large acquisitions/dispositions) may influence governance dynamics and strategic flexibility .
- Section 16 compliance: One late Form 4 in 2024 and additional late filings post-year-end for Remer; administrative but noteworthy for process rigor .
- Insider share repurchases by the company from executives in December 2023 provide liquidity but can affect float and signaling .
Equity Ownership & Director Compensation (Board context)
- Director compensation policy for non-employee directors updated in Feb 2024 (cash retainers and $200,000 RSU grants), with committee retainers and change-in-control full acceleration for director equity .
- Lead Independent Director receives additional cash retainer; audit chair and members receive incremental retainers; similar for compensation and nominating/governance committees .
Investment Implications
- Alignment: Remer’s ~8.2% beneficial ownership and large unvested RSU balance suggest meaningful skin-in-the-game and retention through time-based vesting; quarterly RSU vesting creates regular potential liquidity windows but remains subject to insider trading policy and 10b5-1 practices .
- Pay-for-performance: Cash bonus frameworks tied to adjusted EBITDA and revenue—with above-target 2023 and near-target 2024 payouts—indicate incentive alignment with margin expansion and top-line goals observed under Remer .
- Option risk reduced: Forfeiture of 2023 performance options shifts long-term incentives toward RSUs, lowering upside leverage to stock-price spikes but strengthening retention predictability .
- Governance checks: Double-trigger CIC vesting plus clawback and anti-hedging policies mitigate shareholder risk in restatements or M&A scenarios; controlled company status and sponsor rights may constrain certain strategic actions but provide stability .
- Execution track: Margin expansion and portfolio simplification (divestitures, strategic alternatives) under Remer support improved quality of earnings; monitor insider Form 4 activity and RSU vesting cadence for potential selling pressure signals, especially post-IPO transfer restriction sunset in 2024 .