Richard Donahue
About Richard Donahue
Richard Donahue, 44, is Chief Marketing Officer (CMO) of Ibotta, Inc. (IBTA). He has served as CMO since January 2021, after progressively senior marketing roles at Ibotta dating back to 2013, and previously worked in brand marketing at Kraft Heinz (2010–2013). Donahue holds an MBA from the University of Texas at Austin and a BA in Political Science from UCLA . Company performance context: revenue grew 52% from $210.7M (2022) to $320.0M (2023), while Adjusted EBITDA margin improved from -13% (2022) to 26% (2023) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Ibotta, Inc. | Chief Marketing Officer | Jan 2021 – present | Leads the marketing function |
| Ibotta, Inc. | SVP, Marketing | Dec 2015 – Jan 2021 | Senior leadership in marketing |
| Ibotta, Inc. | VP, Marketing | Aug 2014 – Dec 2015 | Marketing leadership |
| Ibotta, Inc. | Director, Marketing | Apr 2014 – Aug 2014 | Marketing management |
| Ibotta, Inc. | Director, Sales | May 2013 – Mar 2014 | Sales leadership |
| Kraft Heinz Co. | Brand Marketing | Aug 2010 – May 2013 | CPG brand marketing experience |
Fixed Compensation
| Item | Pre‑Registration (as of 3/14/2024) | Post‑Registration (effective on Registration Date) |
|---|---|---|
| Base Salary ($) | $270,000 | $318,000 |
| Target Bonus % of Salary | 75% | 75% |
Performance Compensation
| Year | Metric | Weighting | Target | Actual / Payout | Vesting / Mechanics |
|---|---|---|---|---|---|
| 2024 Bonus Plan (executives) | Adjusted EBITDA | 50% | Company annual target | 97% of target paid to NEOs; Donahue-specific payout not disclosed | Cash bonus |
| 2024 Bonus Plan (executives) | Revenue | 50% | Company annual target | 97% of target paid to NEOs; Donahue-specific payout not disclosed | Cash bonus |
| 2023 Bonus Plan (context) | Adjusted EBITDA & Revenue | 50% / 50% | Company annual targets | 150% of target paid to NEOs; Donahue not listed as NEO | Cash bonus |
Notes:
- Donahue is eligible under the executive incentive plan, but his individual bonus payouts are not disclosed in the 2025 proxy; he is not listed among 2024 NEOs .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Rule 10b5‑1 Trading Plan | Adopted 6/6/2024; provides for sales up to 137,347 shares (includes estimated ESPP acquisitions); duration until 6/4/2025 |
| Pledging / Hedging | Insider Trading Policy prohibits short sales, hedging, publicly traded options, pledging, and margin accounts |
| Clawback Policy | Adopted Feb 2024; requires recovery of excess incentive-based compensation from officers if financial restatement, covering three prior completed fiscal years; no discretion to waive |
Beneficial ownership for Donahue is not itemized in the 2025 proxy’s ownership table (table lists directors and 2024 NEOs) .
Employment Terms
| Term | Details |
|---|---|
| Employment Status | At‑will; CMO reporting to CEO; full‑time |
| Base & Bonus | Base increased from $270,000 to $318,000 upon registration effectiveness; target cash bonus 75% of base, payable upon achievement and continued employment through payment date |
| Equity Eligibility | Eligible for awards under company equity plans at committee discretion |
| Restrictive Agreements | References prior confidentiality/invention assignment agreement; specific non‑compete/non‑solicit terms not disclosed in cited documents |
Severance and Change‑of‑Control Economics (Rich Donahue Agreement)
| Scenario | Cash Multiple | Bonus Multiple | COBRA Coverage | Equity Acceleration | Trigger Type | 280G / Gross‑ups |
|---|---|---|---|---|---|---|
| Qualifying Non‑CIC Termination | 0.5x Salary | — | 6 months | — | Termination without Cause or for Good Reason outside CIC Period | 280G cutback to maximize after‑tax; no tax gross‑up |
| Qualifying CIC Termination | 1.0x Salary | 1.0x Target Bonus, prorated by days employed in year | 12 months | 100% acceleration of service‑based unvested equity awards | Double‑trigger within CIC Period (3 months before to 1 year after CIC), without Cause or for Good Reason | 280G cutback to maximize after‑tax; no tax gross‑up |
Payment timing: lump‑sum cash on first payroll date after release becomes effective; equity settlement aligned with release timing and plan requirements .
Company Performance During Donahue’s Tenure (recent quarters)
| Metric | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 |
|---|---|---|---|---|
| Revenue ($) | $98.38M | $84.57M | $86.03M | $83.26M |
| EBITDA ($) | $18.13M* | -$0.07M* | $2.84M* | $3.41M* |
| EBITDA Margin (%) | 18.43%* | -0.09%* | 3.30%* | 4.09%* |
*Values retrieved from S&P Global.
Investment Implications
- Incentive alignment: Bonus design ties pay to Adjusted EBITDA and revenue with equal weighting; governance prohibits hedging/pledging and includes an NYSE/SEC‑compliant clawback, strengthening alignment and accountability .
- Severance structure: Non‑CIC severance is modest (0.5x salary, 6 months COBRA); CIC benefits are moderate (1x salary, 1x target bonus prorated, 12 months COBRA) with full acceleration of service‑based equity and 280G cutback/no gross‑ups—reducing change‑of‑control windfall risk but preserving retention value .
- Selling pressure: A Rule 10b5‑1 plan authorized sales up to 137,347 shares through June 4, 2025, signaling potential supply during that window; ESPP sales were contemplated in the plan .
- Data limitations: Donahue was not a 2024 NEO, and his beneficial ownership and individual bonus payouts are not disclosed in the proxy—limiting “skin‑in‑the‑game” precision; monitoring future DEF 14A and Forms 4 is recommended .