Jeffrey Pinner
Robinhood MarketsAbout Jeffrey Pinner
Jeffrey Pinner, age 40, has served as Robinhood’s Chief Technology Officer since August 2024; he holds a B.S.E. in Mechanical & Aerospace Engineering from Princeton and an M.S. in Aeronautics & Astronautics from Stanford . Prior roles include Lyft CTO (nearly a decade at Lyft) and distinguished engineer in Cruise’s AI & Robotics group, bringing deep large-scale consumer tech and AI infrastructure expertise . Company performance in 2024: total net revenues rose 58% to $2.95B, GAAP net income reached $1.41B, and adjusted EBITDA was $1.429B; a $100 initial investment in HOOD at IPO was worth $107.01 at 2024 year-end, reflecting improved TSR from 2023 levels .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Lyft | Chief Technology Officer | ≈10 years, ending 2024 | Led large-scale consumer platform engineering; senior executive operator experience |
| Cruise | Distinguished Engineer (AI & Robotics) | Prior to Aug 2024 | Advanced AI/robotics capabilities; deep technical expertise |
External Roles
- No public board roles or external directorships disclosed for Pinner .
Fixed Compensation
| Component | 2024 Details | Vesting/Timing |
|---|---|---|
| Base Salary | $550,000 annual rate (set on hire) | Ongoing |
| Sign-on Bonus | $2,000,000; paid in two equal annual installments ($1,000,000 paid in 2024; remaining $1,000,000 due in 2025) | Two installments (on start and 1-year anniversary) |
| New-Hire RSU Grant | 762,528 RSUs; grant date fair value $17,500,018 on 09/18/2024 | Quarterly vesting over 4 years |
Performance Compensation
| Metric | Weight | Goal Attainment (2024) | Company Payout Factor |
|---|---|---|---|
| Total Net Revenue | 30% | Exceeded maximum | 200% |
| Adjusted Net Income | 30% | Exceeded maximum | 200% |
| Net Deposits | 20% | Exceeded maximum | 200% |
| Gold Subscriber Growth | 20% | Between target and maximum | 128% |
| Aggregate Payout | — | — | 185.5% of target |
| Executive | Target Bonus (% of Salary) | 2024 Eligible Earnings | Company Performance Multiplier | Final Award |
|---|---|---|---|---|
| Jeffrey Pinner | 75% | $213,388 (prorated on hire) | 185.5% | $296,935 |
Notes:
- Annual incentive metrics were updated in 2024 to emphasize total net revenue, adjusted net income, Net Deposits, and Gold Subscriber growth; each metric weighting shown above .
Equity Ownership & Alignment
| As-of Date | Direct Class A Shares | RSUs Vesting within 60 days | Total Beneficial Ownership | Ownership % of Voting Power | Unvested RSUs Outstanding | Vesting Cadence |
|---|---|---|---|---|---|---|
| April 7, 2025 | 5,853 | 53,844 | 59,697 (Class A) | Less than 0.1% | — | — |
| December 31, 2024 | — | — | — | — | 714,870 RSUs; $26,636,056 intrinsic value @ $37.26/share | One-fifteenth vested Mar 1, 2025; remainder vests quarterly through Sep 1, 2028 |
Additional alignment/policies:
- Executive stock ownership guidelines apply; Pinner is on track to meet requirements within five years from becoming an executive in 2024 .
- Policy prohibits hedging and pledging of Robinhood securities by insiders, including derivatives tied to Robinhood metrics or event contracts .
- Pinner adopted a Rule 10b5-1 trading plan on Nov 11, 2024 to sell shares upon settlement of up to 285,948 unvested RSUs through Apr 30, 2026, indicating potential sustained selling aligned with scheduled settlements .
Employment Terms
| Term | Non–Change-in-Control Severance | Change-in-Control Severance (3 months before to 18 months after CIC) |
|---|---|---|
| Cash Severance | 12 months base salary for executives other than CEO | 18 months base salary for executives other than CEO |
| Bonus Treatment | 50% of target bonus, prorated for year of termination; plus 50% of prior year target bonus if termination occurs before prior year bonus payment date | Target bonus + 50% prorated target bonus + 50% prior year target bonus if termination occurs before prior year bonus payment date |
| Equity Acceleration | Time-based equity: 6 months of vesting if tenure <24 months; 9 months if tenure ≥24 months; performance-based equity excluded | All outstanding unvested equity accelerates (excluding performance-based awards) |
| Health Benefits | Lump sum COBRA premiums on after-tax basis for 12 months | Lump sum COBRA premiums on after-tax basis for 18 months |
| 280G Treatment | “Best net” cut/no-cut; no excise tax gross-up | “Best net” cut/no-cut; no excise tax gross-up |
Estimated severance values if terminated on Dec 31, 2024:
| Scenario | Cash Severance | RSU Acceleration | Health Benefits (After-Tax COBRA) | Total |
|---|---|---|---|---|
| No CIC: Termination without cause/resignation for good reason | $630,021 | $5,327,211 | $35,052 | $5,992,284 |
| CIC Period: Termination without cause/resignation for good reason | $1,042,521 | $26,636,056 | $52,577 | $27,731,154 |
Offer letter and grant specifics:
- Offer letter dated July 24, 2024: base salary $550,000; $2,000,000 sign-on bonus (two equal annual installments); initial grant of 762,528 time-based RSUs .
- RSU vesting: quarterly over four years; first tranche one-fifteenth vested Mar 1, 2025 with remaining quarterly tranches through Sep 1, 2028 .
- No stock options outstanding for Pinner as of year-end 2024 .
Investment Implications
- Strong retention lock-in: Four-year quarterly RSU schedule through Sep 2028 plus non-CIC partial acceleration create multi-year retention incentives; CIC double-trigger terms accelerate all time-based equity, improving certainty of value in a sale scenario .
- Insider selling pressure: The Rule 10b5-1 plan to sell shares from settlement of up to 285,948 RSUs through Apr 30, 2026 suggests a steady cadence of sales tied to quarterly vesting, a factor for float supply and technical overhang .
- Pay-for-performance alignment: 2024 bonus metrics and weightings (revenue, adjusted net income, Net Deposits, Gold subscriber growth) drove a 185.5% payout; Pinner’s prorated award was $296,935, indicating incentives geared to profitability and customer asset growth .
- Governance safeguards: Robust clawbacks (restatements and detrimental conduct) and strict prohibition on hedging/pledging support alignment; no 280G excise tax gross-ups reduce shareholder-unfriendly features .
- Ownership trajectory: Pinner is below formal ownership guideline now but on track to meet the executive stock ownership policy within five years of appointment; unvested RSUs (714,870 at YE2024) point to meaningful future ownership accumulation if retained .