Nate Gandert
About Nate Gandert
Nate (Nathaniel) Gandert, age 52, is Senior Vice President and Chief Technology Officer at Getty Images (GETY). He has served as CTO since 2016 and has over 18 years at Getty and 25+ years of industry experience leading technology strategy, data and insights, search architecture, application/software development, ecommerce platforms, and AI/ML initiatives . As an emerging growth company, Getty is exempt from “pay versus performance” and CEO pay ratio disclosures; however, for 2024, the executive annual bonus metric was revenue, and the company maintains anti-hedging/anti-pledging and clawback policies to reinforce alignment .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Getty Images | SVP, Chief Technology Officer | 2016–present | Leads overall technology strategy and vision; oversees search architecture, application development, ecommerce platform and websites; builds internal/customer value using data, AI and ML |
| Getty Images | Various VP/Senior Director/Director roles | Not disclosed | Progressive leadership roles over 18+ years at Getty Images across technology and product functions |
| Various ecommerce/media companies | Vice President & leadership roles | Not disclosed | Prior to joining Getty, leadership roles in ecommerce and media sectors (specific companies not disclosed) |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Not disclosed by the company | — | — | No external directorships or roles disclosed for Gandert |
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary Paid ($) | $531,748 | $545,625 |
| Target Bonus (%) | 50% of base salary (per employment agreement) | 50% of base salary (per employment agreement) |
| Actual Annual Bonus Paid ($) | — (not earned/paid for 2023 per table) | $275,000 (earned in 2024, paid 2025) |
| All Other Compensation ($) | $17,047 | $16,061 |
Notes:
- 2024 All Other Compensation includes split-benefit life insurance income ($1,711) and tax gross-up ($550), plus 401(k) match ($13,800) .
- Getty selected revenue as the 2024 annual bonus company performance metric; individual performance also factors into payout .
Performance Compensation
Annual Cash Bonus Structure (2024)
| Metric | Weighting | Target | Actual | Payout ($) | Vesting |
|---|---|---|---|---|---|
| Revenue (Company metric) + Individual performance | Not disclosed | Not disclosed | Not disclosed | $275,000 | Cash, paid after year-end |
Equity Awards Detail (Outstanding/Structure)
| Grant Date | Type | Units / Status | Fair/Market Value ($) | Vesting Schedule | Strike | Expiration |
|---|---|---|---|---|---|---|
| 3/16/2023 | Stock Options (Exercisable/Unexercisable) | 293,750 / 206,250 | — | One-third vested 3/20/2024; remainder vests in substantially equal quarterly installments over the following two years | $4.90 | 3/15/2033 |
| 3/16/2023 | RSUs (unvested) | 82,500 | $178,200 at $2.16 close on 12/31/24 | One-third vested 3/20/2024; remainder vests quarterly over next two years | — | — |
| 3/16/2023 | PSUs (unearned at target) | 66,667 | $144,001 at $2.16 close on 12/31/24 | Three-year performance period with tranches approved annually; 2023 tranche GFV $326,667; full intended target PSU value $980,000 | — | — |
| 7/11/2024 | RSUs (unvested) | 33,250 | $71,280 at $2.16 close on 12/31/24 | Vests in four quarterly installments starting March 2026 | — | — |
| 2/26/2017 | Legacy Options (Exercisable) | 13,996; 29,535; 39,938 | — | Standard 4-year vesting (25% at 1-year; remainder quarterly); fully vests on change in control (Business Combination excluded) | $3.13 | 2/25/2027 |
| 3/01/2017 | Legacy Options (Exercisable) | 488,216 | — | As above | $3.13 | 2/28/2027 |
| 4/10/2019 | Legacy Options (Exercisable) | 986,117; 292,930 | — | As above | $2.74 | 4/09/2029 |
As of 12/31/2024, the closing share price was $2.16, making options with strikes $2.74/$3.13/$4.90 out-of-the-money at that date .
Equity Ownership & Alignment
| Category | Amount | Notes |
|---|---|---|
| Shares owned directly | 447,388 | Per beneficial ownership table |
| Options exercisable within 60 days | 2,226,982 | Counted as beneficially owned under SEC rules |
| Total beneficial ownership | 2,674,370 | Less than 1% of 414,811,306 shares outstanding |
| Unvested RSUs | 82,500 (2023 grant); 33,250 (2024 grant) | Vesting schedules as above |
| Outstanding PSUs (unearned at target) | 66,667 | Tranches approved annually; target PSU value $980,000 |
| Hedging/Pledging | Prohibited by policy | Applies to directors, officers, certain employees |
| Ownership guidelines | Committee establishes guidelines; specifics not disclosed | Executive compliance status not disclosed |
Employment Terms
| Term | Detail |
|---|---|
| Agreement & Renewal | Employment agreement dated June 1, 2016; auto-renews for one-year terms each Dec 31 starting 2019 unless 3 months’ notice of non-renewal |
| Base Salary (as of 12/31/2024) | $550,000; subject to annual review |
| Target Bonus Opportunity | 50% of base salary |
| Severance (no cause/good reason) | 150% of base salary + 150% of target bonus, paid over 18 months, plus continued health benefits for up to 18 months; subject to release and covenant compliance |
| Change-in-Control Equity | Stock options fully vest upon a defined change in control; Business Combination did not constitute a change in control; RSU/PSU treatment per equity documents (not detailed) |
| Covenants | Non-solicitation, non-compete, confidentiality, and IP ownership provisions |
| Clawback | Incentive-based compensation recovery policy effective Oct 2, 2023 (SEC/NYSE-compliant) |
| Hedging/Pledging Policy | Hedging and pledging prohibited for directors/officers/certain employees and entities they control |
| Pension/Deferred Comp | No defined benefit pension or nonqualified deferred compensation plan participation in 2024 |
| Perquisites | No significant perqs (> $10k); standard benefits; split-benefit life insurance and tax gross-up ($550 in 2024) |
| Bonus Metric (2024) | Company metric: revenue; individual performance assessment drives final payout |
Investment Implications
- Alignment and risk controls: Revenue-based annual bonuses, multi-year PSUs, SEC/NYSE clawback, and anti-hedging/anti-pledging policies support pay-for-performance and reduce misalignment risks .
- Ownership and selling pressure: Gandert’s beneficial ownership is less than 1% but includes 2.23M vested options; at 12/31/2024 close ($2.16), option strikes ($2.74/$3.13/$4.90) were out-of-the-money, reducing near-term exercise incentive. RSUs begin quarterly vesting in March 2026, adding incremental share delivery thereafter .
- Retention considerations: 18+ year tenure, auto-renewing contract, and severance of 1.5x base+bonus plus health benefits suggest stability with moderate departure costs should transition occur .
- Disclosure gaps: Specific PSU performance metrics/weightings and ownership guideline multiples are not disclosed; Getty’s EGC status limits “pay vs performance” comparability and say‑on‑pay context .