Ryan Siurek
About Ryan Siurek
Ryan Siurek, 53, is EverCommerce’s Chief Financial Officer, appointed effective September 6, 2024 after serving as Chief Accounting Officer from July 2023 to August 2024. He holds Bachelor’s and Master’s degrees in Accounting from Texas A&M University and is a CPA; he previously held senior finance roles at Biodesix, Vail Resorts, Sprint, and LyondellBasell and serves on the FASB Small Business Advisory Committee (SBAC) (formerly on AICPA’s FinREC). Under his tenure, EVCM reported 2024 revenue of $698.8M, Adjusted EBITDA of $177.0M, and Adjusted EBITDA margin of 25.3% (pro forma basis, post fitness divestiture), with continued transformation and margin progress into 2025.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| EverCommerce | Chief Accounting Officer; then CFO | Jul 2023–Aug 2024; CFO since Sept 6, 2024 | Elevated to CFO; oversight of accounting, controls and financial reporting; continuity through transformation program. |
| Biodesix (BDSX) | VP, Chief Accounting Officer | Dec 2020–Jul 2023 | Led public-company accounting for diagnostics; SEC reporting and technical accounting rigor. |
| Vail Resorts (MTN) | SVP & Chief Accounting Officer | Apr 2016–Oct 2020 | Scaled accounting for multi-asset leisure operator; strengthened controls in complex environment. |
| Sprint Corporation | CFO, Prepaid & Wholesale; VP CAO/Controller; VP & Assistant Controller | Dec 2013–Apr 2016; Jul–Dec 2013; Jan–Nov 2009 | Finance leadership across segment P&L management and corporate accounting; telecom operating complexity. |
| LyondellBasell Industries | Director Risk Mgmt & Global Shared Services; European Controller; Sr Manager Technical Accounting | Sep 2008–Jan 2009; Jul 2007–Aug 2008; Jan 2004–Jun 2007 | International controllership and technical accounting in global industrials; risk and shared services leadership. |
External Roles
| Organization | Role | Years |
|---|---|---|
| FASB Small Business Advisory Committee (SBAC) | Member | Current (as of DEF 14A) |
| AICPA Financial Reporting Executive Committee (FinREC) | Member | 2020–2023 |
Fixed Compensation
Base Salary (2024 progressions)
| Effective Date | Base Salary ($) |
|---|---|
| Initial 2024 | 375,000 |
| Apr 1, 2024 (merit) | 380,394 |
| Sept 6, 2024 (upon CFO appointment) | 400,000 |
Cash Bonus (2024)
| Component | Detail |
|---|---|
| Target bonus % | 40% of base salary |
| Actual payout factor | 102.5% of target based on 50% Adjusted EBITDA and 50% Revenue metrics |
| Actual bonus paid ($) | 164,000 |
Other Cash/Benefits (2024)
| Item | Amount ($) |
|---|---|
| 401(k) Company Match | 13,800 |
Performance Compensation
Annual Incentive Plan (2024)
| Metric | Weighting | Target | Actual | Payout Factor | Vesting/Payment Timing |
|---|---|---|---|---|---|
| Adjusted EBITDA | 50% | Not disclosed | Not disclosed | 102.5% aggregated factor | Annual cash bonus, paid subsequent to year-end |
| Company Revenue | 50% | Not disclosed | Not disclosed | 102.5% aggregated factor | Annual cash bonus, paid subsequent to year-end |
Notes: 2024 NEO bonuses were determined on company-wide metrics (50% Adjusted EBITDA, 50% Revenue) with payout potential from 0–200% of target; Siurek’s actual payout was 102.5% of target. Specific numerical target/actual thresholds were not disclosed in the proxy.
Equity Awards (RSUs and Options)
| Grant Type | Grant Date | Shares Granted | Grant-Date Fair Value ($) | Vesting Schedule |
|---|---|---|---|---|
| RSU (annual cycle) | Feb 2024 | 77,081 | Included in 2024 stock awards total of 975,002 | 16 equal quarterly installments (100% after 4 years); acceleration per employment agreement on qualifying termination/change-in-control. |
| RSU (promotion award) | Aug 20, 2024 | 22,016 | Included in 2024 stock awards total of 975,002 | Same as above; 16 equal quarterly installments; acceleration provisions apply. |
| Stock Options | — | 0 | — | None outstanding. |
Vesting detail: Each RSU vests quarterly over 16 quarters; for illustration, the Feb 2024 grant vests in equal quarterly tranches through Feb 2028, and the Aug 20, 2024 grant through Aug 2028, subject to continued service and acceleration terms.
Equity Ownership & Alignment
| Ownership Detail (as of Record Date) | Shares |
|---|---|
| Common shares held directly | 25,439 |
| RSUs scheduled to vest within 60 days | 17,611 |
| Total beneficial ownership | 43,050 |
| % of shares outstanding | Less than 1% (based on 183,089,398 shares outstanding) |
| Unvested RSUs outstanding at FY-end | 109,949 |
| Market value of unvested RSUs at $11.01 close (12/31/2024) | $1,210,538 |
- Anti-hedging policy prohibits hedging transactions and use of instruments that offset declines in EVCM stock value; applies to officers, directors, employees, and controlled entities. No pledging disclosure specific to Siurek was noted.
- Insider reporting: one late Form 4 for Ryan Siurek noted in 2025 proxy’s Section 16(A) compliance section.
Employment Terms
| Term | Detail |
|---|---|
| Agreement Date/Role | Effective September 6, 2024; CFO. |
| Base Salary / Target Bonus | $400,000 base; 40% target bonus. |
| Severance (without Cause / Good Reason) | 12 months base salary; pro rata target bonus; up to 12 months COBRA; acceleration of time-based equity that would have vested in next 12 months; performance-based awards remain outstanding and eligible to vest based on actual achievement. |
| Change-in-Control (1 month before to 12 months after) | Same severance terms; time-based equity awards granted prior to change-in-control fully accelerate (double trigger). |
| Death/Disability | Pro rata target bonus. |
| Clawback | Company clawback policy complying with SEC/Nasdaq rules. |
| 280G Cutback | Payments reduced to avoid excise taxes if resulting in greater after-tax proceeds. |
| Restrictive Covenants | Perpetual confidentiality; 1-year post-termination non-compete and non-solicit. |
Performance & Track Record
- 2024 financials: Revenue $698.8M; Net loss $41.1M; Adjusted EBITDA $177.0M; Adjusted Gross Profit $470.4M; Q4 2024 exceeded guidance for revenue and Adjusted EBITDA; management highlighted execution on transformation and AI initiatives.
- 2024 pro forma margin: Adjusted EBITDA margin 25.3% with 230 bps YoY expansion (excluding fitness divestiture).
- 2025 guidance (continuing ops, excluding Marketing Technology Solutions): Revenue $581–$601M; Adjusted EBITDA $167.5–$175.5M; first quarter 2025 revenue $138–$141M and Adjusted EBITDA $39–$41M.
- Controls: Material weakness in internal control over financial reporting (order-to-cash revenue processes) identified in 2023 remained unremediated as of 2024 year-end; remediation in progress.
Investment Implications
- Pay-for-performance alignment: Cash bonus tied 50/50 to Adjusted EBITDA/Revenue with a 102.5% payout in 2024 suggests alignment to operational goals; equity heavily RSU-based with 4-year quarterly vesting supports long-term retention but may create a steady cadence of potential selling as tranches settle.
- Retention and change-in-control economics: 12 months cash severance plus pro rata bonus and 12 months COBRA, with double-trigger acceleration of time-based equity during change-in-control windows, lowers retention risk and aligns incentives around transactional outcomes; the 280G cutback reduces shareholder-unfriendly tax gross-up risk.
- Ownership alignment: Beneficial ownership is modest (<1%), with meaningful unvested RSUs (~$1.21M at 12/31/2024), and anti-hedging policy strengthens alignment by discouraging risk-offset trades; no pledging disclosures noted.
- Execution and control risk: Ongoing remediation of a material weakness in revenue processes is a notable governance/control focus area under the CFO’s remit; successful remediation is an important medium-term quality-of-earnings and multiple driver.
- Trading signals: One late Form 4 reported for Siurek; without Form 4 detail in filings, monitor future Section 16 activity and 10b5-1 adoptions to gauge selling pressure as RSUs vest.