Matthew Feierstein
About Matthew Feierstein
Matthew Feierstein, 52, is President of EverCommerce, having served since October 2016; he previously served as COO from October 2016 to April 2021 and earlier led PaySimple as President from December 2009 to October 2016. He holds a B.A. in History from the University of Michigan and is accountable for enterprise growth and profitability at EverCommerce . His annual cash bonus is tied 50% to adjusted EBITDA and 50% to revenue; in 2024 he earned 102.5% of his target bonus, indicating the company modestly exceeded goal levels for these metrics . As of April 22, 2025, he beneficially owned 3,748,104 EverCommerce shares (2.0% of outstanding), comprising direct/common stock, family trust holdings, options exercisable or vesting within 60 days, and RSUs vesting within 60 days .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| EverCommerce | President | Oct 2016–present | Oversees holistic business operations; accountable for growth and profitability |
| EverCommerce | Chief Operating Officer | Oct 2016–Apr 2021 | Led operations during scaling post-IPO preparation period |
| PaySimple (EverCommerce platform) | President | Dec 2009–Oct 2016 | Led SMB payments/software growth ahead of integration into EverCommerce |
| Pronto.com (IAC) | Chief Operating Officer | Prior to 2009 | Led operations of price comparison platform within IAC |
| Citysearch.com (IAC) | Senior product/operations roles | Prior to 2009 | Product and operational leadership in local listings/advertising |
| Small business start-up (service industry) | Senior management role | Prior to IAC | Early-stage operating experience |
External Roles
No current public-company board seats or external directorships are disclosed in his proxy biography .
Fixed Compensation
| Component | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | 425,000 | 425,000 |
| Target Bonus ($) | 340,000 | 340,000 |
| Actual Non-Equity Incentive Plan Bonus ($) | 399,500 | 348,500 |
| Discretionary Bonus ($) | 20,000 | — |
| Stock Awards Grant-Date Fair Value ($) | 2,337,501 | 2,337,496 |
| Option Awards Grant-Date Fair Value ($) | — | — |
| Total Compensation ($) | 3,182,001 | 3,110,996 |
Performance Compensation
Annual Cash Incentive Structure (2024)
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Adjusted EBITDA | 50% | Not disclosed | Not disclosed | 102.5% of target | Cash bonus paid for FY2024 performance |
| Revenue | 50% | Not disclosed | Not disclosed | 102.5% of target | Cash bonus paid for FY2024 performance |
Equity Awards Granted
| Grant | Grant Date | Type | Shares/Units | Vesting | Notes |
|---|---|---|---|---|---|
| Annual equity grant | Feb 2024 | RSUs | 240,236 | 16 ratable quarterly installments; 100% by 4th anniversary; acceleration on qualifying termination | Under 2021 Plan |
Outstanding Equity Awards at FY-End (12/31/2024)
| Award Type | Exercisable (#) | Unexercisable (#) | Strike ($) | Expiration | RSUs Unvested (#) | RSUs Market Value ($) |
|---|---|---|---|---|---|---|
| Stock options (grant 1) | 1,436,791 | 0 | 9.1356 | 1/9/2030 | — | — |
| Stock options (grant 2) | 55,859 | 12,891 | 17.0000 | 6/30/2031 | — | — |
| Stock options (grant 3) | 72,652 | 16,766 | 17.0000 | 9/19/2031 | — | — |
| Stock options (grant 4) | 138,101 | 62,774 | 11.9700 | 2/29/2032 | — | — |
| RSUs (aggregate) | — | — | — | — | 371,275 | 4,087,738 (at $11.01 close) |
Vesting mechanics: legacy 2021/2022 grants vest 25% at the first anniversary then ratably quarterly; 2023/2024 RSUs vest entirely via ratable quarterly installments over four years; time-based awards fully accelerate upon a termination without cause during the 12 months following a change in control .
Equity Ownership & Alignment
| Category | Shares/Units | Notes |
|---|---|---|
| Total beneficial ownership (as of 4/22/2025) | 3,748,104 | 2.0% of 183,089,398 shares outstanding |
| Common stock held directly | 1,798,949 | Personal holdings |
| Family trust holdings | 150,000 | MEF Family Irrevocable Trust |
| Options vested or vesting within 60 days | 1,748,283 | Near-term exercisable |
| RSUs vesting within 60 days | 50,872 | Near-term settlements |
Policies and alignment:
- Anti-hedging: EverCommerce prohibits hedging transactions for directors, officers, employees, and controlled entities .
- Clawback: Company maintains an SEC/Nasdaq-compliant compensation clawback for erroneously awarded incentive pay .
- Stock ownership guidelines and pledging: Not disclosed in the proxy; no pledging disclosure specific to executives found in the cited sections .
Employment Terms
- Base salary and bonus: $425,000 base; target annual performance-based bonus $340,000 (target increased to $340,000 in 2022) .
- Severance (without Cause/for Good Reason): 12 months base salary continuity; Pro Rata Bonus; up to 12 months COBRA; accelerated vesting of time-based equity that would vest in the 12 months post-termination; performance-based equity remains eligible to vest based on actual achievement over 12 months or end of performance period, if earlier .
- Change-in-control: If terminated without Cause/for Good Reason within 1 month before or 12 months after a change in control, same severance benefits and full acceleration of outstanding time-based equity awards granted prior to the change in control (double-trigger equity acceleration) .
- Death/disability: Pro Rata Bonus, subject to release .
- Restrictive covenants: Perpetual confidentiality; one-year post-termination non-compete and non-solicit .
- Code Section 280G: Cutback to avoid excise taxes if beneficial on an after-tax basis .
Compensation Committee Analysis
- 2024 Compensation Committee members: Mark Hastings and Joseph Osnoss; both are not current employees; related-party context noted via PSG and Silver Lake affiliations in related transactions disclosures .
- Compensation elements: Cash incentives explicitly tied to adjusted EBITDA and revenue with symmetrical 50/50 weighting and a payout scale from 0% to 200% of target .
- Equity grant practices: Annual RSU grants; vesting intentionally linear quarterly over four years; policy states no timing of grants around MNPI windows; no general tax gross-ups for NEO personal income taxes or perquisites .
Governance and Related Notes
- Controlled company context: PSG and Silver Lake retain board designation rights under stockholders’ agreements and collectively hold significant ownership (PSG 46.7%, Silver Lake 36.6% as of 4/22/2025), shaping governance dynamics .
- Section 16 compliance: One late Form 4 for Matthew Feierstein since year-end; other executives also had late filings noted .
Investment Implications
- Pay-for-performance linkage: 2024 cash incentive payout at 102.5% of target on adjusted EBITDA and revenue suggests compensation aligned to operating performance; recurring quarterly RSU vesting provides steady equity realization but may create predictable selling pressure around vest dates absent 10b5-1 plans .
- Retention and change-in-control: One-year salary continuity plus accelerated vesting of time-based equity upon qualifying termination, and double-trigger acceleration in change-in-control scenarios, reduce retention risk while protecting equity value; the 280G cutback mitigates parachute excise exposure .
- Alignment and ownership: 2.0% beneficial ownership with a mix of common, trust, options, and near-term RSUs indicates meaningful skin-in-the-game; anti-hedging and clawback policies strengthen alignment and recourse, though no explicit stock ownership guidelines or pledging disclosures are provided in the proxy excerpts .
- Trading signals: The linear RSU vesting over four years (16 quarterly tranches) and material near-term option exercisability (1,748,283 shares within 60 days as of April 22, 2025) can contribute to episodic insider-related supply; monitor Form 4s around quarterly vest dates and blackout windows for potential flow impacts .