Christopher Halpin
IACAbout Christopher Halpin
Christopher Halpin (age 48) is Executive Vice President, Chief Operating Officer and Chief Financial Officer of IAC. He has served as CFO since January 2022 and added COO responsibilities in February 2023, reporting directly to Chairman and Senior Executive Barry Diller; the Board affirmed this leadership structure after the CEO transition in March 2025 . In 2024, IAC’s consolidated operating income (loss) and Adjusted EBITDA improved year-over-year despite revenue declines, and the company ended the year with ~$1.8B in cash, positioning it for growth—factors the Compensation Committee considered when determining Halpin’s bonus . His remit includes balance sheet and capital management, strategic and cost initiatives, and operational execution across IAC’s portfolio .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| National Football League (NFL) | EVP & Chief Strategy & Growth Officer | Dec 2018–Jan 2022 | Oversaw strategic growth initiatives including digital, sports betting, data/analytics, and international expansion . |
| National Football League (NFL) | Chief Strategy Officer | Mar 2017–Dec 2018 | Led league-wide strategy; concurrently led Consumer Products Mar 2017–Mar 2018 . |
| National Football League (NFL) | Head of Consumer Products | Aug 2014–Mar 2018 | Led e-commerce and gaming, overseeing consumer products business . |
| National Football League (NFL) | Strategy & BD for Media | Jun 2013–Aug 2014 | Drove strategy and BD in the NFL’s media business . |
| Providence Equity Partners | Partner & Managing Director | ~13 years | Led media, entertainment, and technology investments . |
| Goldman Sachs Merchant Banking | Analyst/Associate (early career) | N/A | Early career in merchant banking . |
External Roles
| Organization | Role | Years |
|---|---|---|
| Turo Inc. | Director | Since Feb 2025 |
| Angi Inc. | Director | Jun 2022–Mar 2025 |
Fixed Compensation
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary ($) | $549,231 | $600,000 | $600,000 |
| Annual Bonus ($) | $2,000,000 | $2,500,000 | $3,500,000 |
| Stock Awards ($, grant-date fair value) | $24,999,898 | $7,999,959 | $3,499,981 |
| All Other Compensation ($) | $10,000 | $10,000 | $10,000 |
| Total Compensation ($) | $27,559,129 | $11,109,959 | $7,609,981 |
| Post-2024 base salary adjustment | — | — | Increased to $750,000 in early 2025 |
Performance Compensation
| Element | Metric(s) Considered | Weighting | Target | Actual/Outcome | Payout | Timing/Vesting |
|---|---|---|---|---|---|---|
| Annual Cash Bonus (2024) | Corporate profitability (operating income & Adjusted EBITDA improvement vs 2023), strategic initiatives (DDM audience and ad sales; Angi retention/quality, sales streamlining, marketing efficiency), cash position (~$1.8B total; $416M at Angi; $250M at DDM); Halpin’s dual role and contributions to balance sheet, capital, strategic/cost/operational initiatives | Discretionary (no formula) | No formulaic target | As described | $3,500,000 | Paid Feb 2025 |
| RSU Grants (2024) | Equity-based retention & alignment; award sizing considers prior unvested/vesting profiles | N/A | N/A | 67,088 RSUs granted; vests 50% on 2nd and 4th anniversaries of grant (Feb 6, 2024) | $3,499,981 grant-date fair value | Service-based vesting |
| RSU Grants (2025) | Increased duties post-CEO transition; market alignment & retention | N/A | N/A | $8.0M grant; vests 37.5% on 1st and 62.5% on 3rd anniversaries of grant (Feb 2025) | $8,000,000 | Service-based vesting |
IAC’s program emphasizes variable cash and equity, avoids formulaic annual bonus metrics, and uses RSUs as the primary long-term incentive to reduce dilution and strengthen retention .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership (common shares) | 65,209 shares; less than 1% of class |
| Unvested RSUs (Dec 31, 2024) | 279,652 RSUs; market/payout value $12,064,187 at $43.14 close |
| Options (exercisable/unexercisable) | None outstanding for Halpin |
| 2024 RSUs vested/value realized | 56,486 shares vested; $2,894,908 value realized upon vesting |
| Ownership guidelines | Target 17,900 shares; status: met as of June 30, 2024 |
| Hedging/pledging | Prohibited for Covered Persons by Securities Trading Policy |
| Clawback | Mandatory recovery of incentive-based compensation upon certain restatements; adopted 2023 |
Vesting Schedules (Selected Awards)
| Award | Grant Date | Vesting Schedule |
|---|---|---|
| RSU (cliff) | Jan 26, 2022 | 174,906 RSUs vest 100% on Jan 26, 2027 |
| RSU (installments) | Feb 8, 2023 | 37,658 RSUs: 37.5% on 1st & 2nd anniversaries; 12.5% on 3rd & 4th anniversaries |
| RSU (installments) | Feb 6, 2024 | 67,088 RSUs: 50% on 2nd anniversary; 50% on 4th anniversary |
| RSU (installments) | Feb 2025 | Grant-date value $8.0M; 37.5% on 1st anniversary; 62.5% on 3rd anniversary |
Employment Terms
| Term | Provision |
|---|---|
| Current positions | EVP, COO & CFO since Feb 2023; CFO since Jan 2022 |
| Reporting line | Reports directly to Chairman and Senior Executive Barry Diller |
| Severance (Qualifying Termination) | Continued base salary for the “Severance Period” (subject to release and post-termination covenants and offset) and partial vesting of unvested equity equal to amounts that would have vested during the Severance Period (cliff awards pro-rated as annual schedules) |
| Good Reason (examples) | Material base salary diminution; adverse reporting change (no longer reporting to CEO or, if no CEO, to Chairman/Senior Executive); material adverse change in title/duties/responsibilities; material relocation outside NYC metro, if not cured |
| Change-of-control vesting | Double-trigger: acceleration only upon involuntary termination within two years after change-of-control |
| Estimated payments (12/31/2024) | Qualifying termination: $600,000 continued salary; $6,060,954 RSUs vest; total $6,060,954 incremental value (salary counted separately) . Qualifying termination within two years post-CoC: $600,000 salary; $12,064,187 RSUs vest; total incremental $12,664,187 . |
| Policies | Securities Trading Policy prohibits hedging and pledging; executive stock ownership and retention policy; Dodd-Frank clawback |
Investment Implications
- Compensation alignment: Significant at-risk pay via discretionary bonuses tied to profitability, strategic execution, and cash stewardship, plus multi-year RSUs with backloaded schedules; this aligns incentives with long-term value creation but reduces short-term formulaic visibility .
- Retention risk/timing: Large cliff vest in Jan 2027 (174,906 RSUs) and substantial Feb 2028 vest from 2025 grant (62.5% of $8M value) create strong retention hooks; a change-of-control would accelerate only with a double-trigger, moderating transaction-related turnover risk .
- Selling pressure: 2024 RSU vesting yielded 56,486 shares and ~$2.89M realized value; upcoming vesting steps in 2026–2028 could coincide with incremental liquidity events, though hedging/pledging is prohibited and ownership targets are met, reducing forced selling risk .
- Governance and risk controls: Mandatory clawback, anti-hedging/pledging, and stock ownership policy support shareholder alignment; severance is primarily salary continuation plus pro-rata equity, with structured “good reason” protections—no tax gross-ups disclosed for Halpin .
- Role expansion: Base salary increased to $750,000 in 2025 reflecting expanded duties post-CEO transition; RSU sizing and vesting cadence emphasize retention during leadership realignment .
Overall, Halpin’s package is retention-heavy with meaningful long-dated equity exposure and prudent change‑of‑control protections, aligning him to long-term TSR/EBITDA improvement while limiting near-term selling pressure through policy constraints .