Chris Riedy
About Chris Riedy
Chris Riedy is Chief Revenue Officer at Ibotta, Inc. (IBTA) and has served in the role since January 2025. He is 49, holds a BA from Denison University and an MBA from Santa Clara University, and previously led global sales at Twitter and revenue at tvScientific, indicating deep expertise in performance media and scaled sales leadership . During his tenure year-to-date, Ibotta reported Q3 2025 revenue of $83.3M (-16% YoY), adjusted EBITDA of $16.6M (20% margin), and 19% YoY growth in quarterly redeemers, alongside the launch of LiveLift and a strategic measurement partnership with Circana . Company-level governance factors include a dual-class structure concentrating voting control with the CEO and a formal clawback and insider trading policy (prohibiting hedging and pledging), relevant to executive alignment and risk .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| tvScientific, Inc. | Chief Revenue Officer | Dec 2023 – Dec 2024 | Platform making TV advertising accessible and measurable for brands/apps; senior revenue leadership |
| Twitter, Inc. | Global Head of Sales and Marketing | Nov 2022 – Oct 2023 | Led global sales/marketing for social networking service |
| Twitter, Inc. | Vice President, EMEA | Dec 2020 – Nov 2022 | Regional leadership for EMEA |
| Twitter, Inc. | Managing Director, U.S. Sales | Feb 2018 – Dec 2020 | U.S. sales leadership |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| — | — | — | No external directorships or committee roles disclosed in the 2025 proxy |
Fixed Compensation
| Component | 2024 | 2025 | Notes |
|---|---|---|---|
| Base Salary | Not disclosed for Riedy | Not disclosed for Riedy | Riedy was not a 2024 Named Executive Officer (NEO); proxy coverage lists Leach, Patel, Swanson, Jensen |
| Target Bonus (%) | Not disclosed for Riedy | Not disclosed for Riedy | Company’s 2024 NEO bonus targets set at 100% of base; no specific CRO disclosure |
| Actual Bonus Paid | Not disclosed for Riedy | Not disclosed for Riedy | 2024 NEO bonuses paid at 97% of target; not specific to Riedy |
No CRO-specific base salary, bonus target, or payout figures are disclosed in the 2025 DEF 14A; Riedy was appointed in 2025 and is not a 2024 NEO .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting/Timing |
|---|---|---|---|---|---|
| Adjusted EBITDA (Company) | 50% | Not disclosed | Not disclosed | 97% of target for 2024 NEOs | Annual cash bonus (NEOs) |
| Revenue (Company) | 50% | Not disclosed | Not disclosed | 97% of target for 2024 NEOs | Annual cash bonus (NEOs) |
The proxy details company-wide bonus design for 2024 NEOs (50/50 revenue and adjusted EBITDA), but does not disclose CRO-specific metrics or payouts. CEO equity awards also incorporate a multi-year relative TSR PSU; this design indicates performance alignment at the top tier but is not stated for the CRO .
Equity Ownership & Alignment
| Item | Status | Detail |
|---|---|---|
| Beneficial Ownership (shares) | Not disclosed | Individual CRO ownership not enumerated in the 2025 beneficial ownership table (table covers NEOs and directors as of March 15, 2025) |
| RSUs – vested/unvested | Not disclosed | Company RSU practices: quarterly vesting over 4 years for NEO awards; CRO awards not disclosed |
| Options – exercisable/unexercisable | Not disclosed | Company disclosed aggregate option activity; no individual CRO option table |
| Hedging/Pledging | Prohibited | Insider Trading Policy prohibits short sales, derivatives, hedging and pledging of company stock |
| Clawback | Implemented | Compensation recovery policy for “officers” under NYSE/SEC rules (restatements) |
| Ownership Guidelines | Not disclosed | No executive stock ownership guideline disclosure found in proxy |
Company equity overhang and supply context:
- Unvested RSUs outstanding: 2,241,677; unrecognized RSU expense $102.2M, WAVG remaining 3.2 years (potential future supply upon vesting) .
- Options outstanding: 2,607,715; exercisable 2,185,719; aggregate intrinsic value $32.9M outstanding, $29.0M exercisable .
Employment Terms
| Provision | Change-in-Control (NEOs, company practice) | Non-CoC Termination (NEOs, company practice) | Tax Gross-ups |
|---|---|---|---|
| Cash severance – salary | 150% of base (Leach/Swanson); 100% for Patel/Jensen, if terminated within CoC period (double-trigger) | 100% of base (Leach/Swanson); 100% for Patel; 50% for Jensen | None; 280G best-net cutback |
| Cash severance – bonus | 150% of target (Leach/Swanson/Jensen; 100% Patel), prorated as applicable | 100% of target (Leach/Swanson), prorated | |
| COBRA benefits | Up to 18 months (Leach/Swanson); 12 months (Patel/Jensen) | Up to 12 months (Leach/Swanson/Jensen) | |
| Equity acceleration | 100% of service-vested but non-performance equity upon CoC qualifying termination (time-based only) | Acceleration of time-based awards scheduled to vest in next 12 months (Leach/Swanson) |
The proxy describes standard severance/CoC terms for NEOs. CRO-specific employment or severance terms were not disclosed; no Item 5.02 filing for CRO appointment/compensatory arrangements was found in the document catalog provided .
Performance & Track Record
- Sales organization restructured from territory- to industry-based model in Q3 2025, with leadership promotions and external hires with performance media backgrounds—an execution lever aligned to CRO mandate .
- Strategic partnership with Circana for trusted third-party sales lift studies and launch of LiveLift to enable in-campaign optimization—commercial tools expected to broaden CPG wallet share and improve performance marketing outcomes .
- Company-level Q3 2025 operating metrics: revenue $83.3M (-16% YoY), adjusted EBITDA $16.6M (20% margin), operating cash flow $21.8M, free cash flow $10.6M; Q4 guidance revenue $80–$85M, adj. EBITDA $9–$12M (midpoint 13% margin) .
Compensation Structure Analysis
- 2024 pay design for NEOs emphasized at-risk cash tied 50/50 to revenue and adjusted EBITDA; payouts at 97% indicate near-target performance despite volatility, with committee discretion maintained .
- Equity for CEO includes multi-year PRSUs tied to relative TSR vs Russell 2000 (0–200% payout range), signaling market-relative performance orientation at top tier; time-based RSUs for other NEOs vest quarterly over four years .
- No CRO-specific equity grants or vesting schedules disclosed; inability to assess CRO’s cash/equity mix or performance weighting limits pay-for-performance conclusions .
Risk Indicators & Red Flags
- Hedging/pledging prohibited under Insider Trading Policy—positive alignment signal; clawback policy implemented per NYSE/SEC rules .
- Dual-class voting control concentrated with CEO (72.4% voting power as of 9/30/25; would be 80.3% if all CEO awards vested/exercised), potentially dampening shareholder influence and affecting transaction economics .
- Company risk factor flags retention challenges amid stock volatility, workforce reduction, and sales reorganization—material to CRO execution bandwidth and team stability .
- Active share repurchase program increased to $300M authorization; 4.74M shares repurchased YTD through Q3 2025—offsets supply but does not eliminate potential selling pressure from sizable unvested RSUs .
Equity Supply & Vesting Pressure (Company Context)
| Metric | Amount | Notes |
|---|---|---|
| Unvested RSUs outstanding | 2,241,677 | WAVG grant-date FV $55.41; unrecognized expense $102.2M; ~3.2 years WAVG amortization |
| Options outstanding | 2,607,715 | WAVG exercise price $15.38; intrinsic value $32.9M; exercisable 2,185,719 ($29.0M IV) |
| Share repurchases | 4,737,252 YTD | $180.7M aggregate through Q3 2025 |
Investment Implications
- Compensation alignment: Company policies (anti-hedging/pledging, clawback) are strong; however, lack of CRO-specific compensation, ownership, and vesting disclosure limits pay-for-performance analysis and insider selling pressure assessment for Riedy .
- Execution levers: Sales reorganization and measurement innovations (Circana, LiveLift) are directly within CRO remit and support revenue quality and CPG wallet share expansion; near-term company guidance contemplates continued revenue pressure but sustained EBITDA profitability .
- Retention risk: Documented challenges in retaining/hiring qualified employees amid stock price volatility and organizational change raise near-term execution risk for commercial scaling under the CRO .
- Governance overhang: Dual-class control may depress takeover optionality and complicate shareholder influence on compensation/governance matters, reducing external pressure on incentive calibration .
- Data gap caution: Absent CRO-specific employment and grant disclosures, investors should monitor future 8-K (Item 5.02) and next proxy for offer letter, equity grants, and severance terms to assess alignment, vesting cadence, and potential trading signals .