Jared Sine
GoDaddyAbout Jared Sine
Jared Sine is Chief Strategy and Legal Officer at GoDaddy (appointed March 18, 2024), age 46, with a BS in Economics and JD from Brigham Young University; he reports to the CEO and oversees Strategy, Legal, Corporate and Business Development . Prior roles include Chief Business Affairs & Legal Officer at Match Group (led $20B separation from IAC in 2020 and acquisition of Hinge in 2018) and nearly four years at Expedia leading legal aspects of M&A and strategic initiatives . Company performance in 2024: revenue $4.6B (+8%), bookings $5.0B (+9%), NEBITDA margin 31% with NEBITDA up 23%; uFCF up 20% to $1.5B . Pay-for-performance alignment includes rTSR-based PSUs; the 2022 PSU cycle paid 200% at a 98.65th percentile rTSR over 2022–2024, vesting March 1, 2025 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Match Group | Chief Business Affairs & Legal Officer; previously CLO/GC | 2016–Feb 2024 | Led $20B separation from IAC (2020); acquired Hinge (2018); drove multi-faceted strategy shaping app ecosystem |
| Expedia Group | Led legal for M&A, JVs, strategic initiatives | Nearly 4 years (pre-2016) | Led all legal aspects of M&A/JVs, supporting strategic growth |
| Cravath, Swaine & Moore LLP | Legal career start (Associate) | Not disclosed | Foundation in complex corporate/legal matters |
| Latham & Watkins LLP | Attorney | Not disclosed | Continued practice in corporate transactions |
External Roles
- None disclosed in company filings for public-company board seats .
Fixed Compensation
| Component | 2024 |
|---|---|
| Base Salary ($) | $500,000 |
| Target Bonus (% of Salary) | 80% |
| Actual Bonus Paid ($) | $500,800 (Total achievement 125.2%) |
Performance Compensation
2024 Short-Term Incentive Plan (STIP) structure and outcomes
| Metric | Threshold (50%) ($USD Millions) | Target (100%) ($USD Millions) | Maximum (150%) ($USD Millions) | Actual ($USD Millions) | Payout % |
|---|---|---|---|---|---|
| Revenue | $4,440 | $4,480–$4,560 | $4,600 | $4,573 | 116% |
| Bookings | $4,892 | $4,942–$5,042 | $5,092 | $5,038 | 100% |
| NEBITDA | $1,288 | $1,299–$1,322 | $1,334 | $1,396 | 150% |
| uFCF | $1,370 | $1,400–$1,470 | $1,500 | $1,506 | 150% |
| Corporate Component Total | — | — | — | — | 129% |
| Component | Weight | Achievement |
|---|---|---|
| Corporate Performance | 80% | 129% |
| Individual Performance (Sine) | 20% | 110% |
| Total Achievement (Sine) | — | 125.2% |
STIP metrics and weights: 80% corporate (25% each of Revenue, Bookings, NEBITDA, uFCF); 20% individual; payout caps: corporate 150%, individual typically capped and historically ≤200% .
Long-Term Incentive Plan (LTIP) – RSUs and PSUs
| Grant Year | Instrument | Target Value ($) | Units | Vesting | Performance Metric |
|---|---|---|---|---|---|
| 2024 (new hire awards) | RSUs (4-year) | $3.6M | Included in total | 30% at ~1-year; then 7.5% quarterly for 4 quarters; then 5% quarterly for 8 quarters | Time-based |
| 2024 (new hire awards) | RSUs (2-year) | $4.0M | Included in total | 50% at ~1-year; 50% at ~2-year | Time-based |
| 2024 (new hire awards) | PSUs | $2.4M | 21,703 | 3-year performance; cliff vest March 1, 2027 | rTSR vs Nasdaq Internet Index; 0–200% payout; target at 50th percentile |
| 2024 (aggregate new hire totals) | RSUs + PSUs | $10.0M | RSUs 68,725; PSUs 21,703 | As above | As above |
| 2025 LTIP | RSUs | $2.2M (50% of $4.4M) | 10,820 | Quarterly over 3 years starting June 1, 2025 | Time-based |
| 2025 LTIP | PSUs | $2.2M (50% of $4.4M) | 10,820 | Performance period 1/1/2025–12/31/2027; vest March 1, 2028 | rTSR vs Nasdaq Internet Index |
Historical PSU performance: 2022 PSU cycle paid at 200% (rTSR 98.65th percentile; vested March 1, 2025) .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership (3/31/2025) | 28,019 shares; <1% of outstanding |
| Shares acquirable within 60 days | 27,853 (settlement/vesting eligibility) |
| Hedging/Pledging | Prohibited for officers/directors; no pledging under any circumstances |
| Stock ownership guideline | 2× base salary in GoDaddy equity within 5 years of start date; must maintain thereafter |
| 10b5-1 trading plans | Not disclosed in proxy/8-K; no Form 4 data available via current tools (searched but none returned) |
Employment Terms
| Term | Key Provision |
|---|---|
| Employment Start | March 18, 2024; appointed Chief Strategy & Legal Officer |
| At-will | At-will employment; can be terminated by either party |
| Non-compete | 1 year (or 6 months if court limits), nationwide scope aligned to GoDaddy’s business; tolling if breached |
| Non-solicit | 1 year post-employment (employees and certain customers) with carve-outs for general ads |
| Arbitration/Class Waiver | JAMS Employment Rules; class/collective waiver; Texas law governs; opt-out within 10 days |
| Severance (Non-CIC) | 1× base salary lump sum; 12 months COBRA (after-tax); forward vesting equal to one year of time-based equity; PSUs remain outstanding to performance tests; release required |
| Severance (CIC, double-trigger) | 1× base salary; 1× target bonus; 12 months COBRA (after-tax); full acceleration of unvested equity (PSUs at ≥ actual or 100% target); if awards not assumed, vest pre-close |
| CIC window | Term extends to 18 months post-CIC; initial term through May 1, 2025 with auto-renewals |
| Tax gross-ups | None; 280G “best results” cutback methodology; ordering of reductions specified |
| Clawbacks | 2019 incentive recovery policy (fraud/misconduct with restatement); 2023 SEC/NYSE-compliant recoupment policy for restatements |
Compensation Program Context
- Say-on-pay approval 95% at 2024 annual meeting; Compensation Committee continues to emphasize pay-for-performance, clawbacks, ownership guidelines, and no hedging/pledging .
- Peer group updated for 2024/2025 to reflect comparables (eBay, Pinterest, Toast, Zoom; later adding Okta, Twilio) to benchmark market pay and design LTIP .
Performance Compensation – Detailed Design
| Element | Structure |
|---|---|
| STIP metrics | 80% corporate: Revenue, Bookings, NEBITDA, uFCF (25% each); 20% individual; corporate cap 150%; individual historically ≤200% |
| LTIP PSUs | rTSR vs Nasdaq Internet Index; 0–200%; target at 50th percentile; three-year performance; cliff vest |
Investment Implications
- Strong alignment: Large portion of Sine’s compensation is at-risk via rTSR PSUs and multi-year RSU vesting; clawbacks and strict anti-hedging/pledging policies reinforce alignment .
- Retention risk and selling pressure: New-hire RSUs are front-loaded ($7.6M time-based) with significant cliff/quarterly vesting over 2–4 years, creating predictable vesting events; full acceleration under double-trigger CIC mitigates uncertainty but could concentrate supply if a CIC occurs .
- Severance economics: Moderate (1× salary non-CIC; 1× salary + 1× target bonus in CIC) and standard release conditions; no excise tax gross-ups (shareholder-friendly) .
- Execution signals: 2024 corporate performance exceeded targets in NEBITDA and uFCF (150% payouts) and delivered +8% revenue, supporting above-target bonus outcomes (125.2%) and validating design focus on profitable growth .
Form 4 insider trading data was sought but not available via current tools (ListDocuments returned no “insider-trades” for GDDY). If desired, we can fetch recent Form 4s and analyze 10b5‑1 usage, transaction types, and net shares sold vs vesting to quantify selling pressure. [ListDocuments returned none]