Jeffrey C. Sprecher
Also at Intercontinental Exchange Inc
About
Jeffrey C. Sprecher is the Chair of the Board and Chief Executive Officer of Intercontinental Exchange (ICE), having led the company since its early days. He joined the organization in 1997 through the acquisition of CPEX and has been providing strategic guidance as CEO, later assuming the role of Chair in November 2002.
Before his tenure at ICE, he built his career over a fourteen-year period with Western Power Group, Inc., where he managed the development, ownership, and operation of large central-station power plants, contributing significantly to various financings.
His strong academic background—earning a Bachelor of Science in Chemical Engineering and an MBA—underpins his technical and business expertise, which he has leveraged to drive innovation and strategic growth within the company.
This blend of operational experience and educational credentials has positioned him as a leading figure in the financial and energy sectors, consistently steering ICE toward operational excellence and market leadership.
$ICE Performance Under Jeffrey C. Sprecher
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Western Power Group, Inc. | President (and various positions) | 14-year tenure (dates not specified) | Held significant financings; developer, owner, and operator of large central-station power plants |
| CPEX | Acquirer | Acquired in 1997 | Predecessor company to ICE that was acquired and later became the foundation for ICE |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | $1,250,000 | Annually | Fixed base salary for 2023 |
| 401(k) Matching | $19,800 | As per plan contributions | Matching contributions under the company's 401(k) and Profit-Sharing Plan |
Performance Compensation
1. EBITDA-Based PSUs
| Metric [Unit] | Value |
|---|---|
| Grant Date | Feb 3, 2023 |
| Grant Date Fair Value | $5,949,938 |
| Grant Date Stock Price | $107.66 |
| Shares at Target | 55,266 |
| Performance Metric | ICE's 2023 EBITDA and TSR vs. S&P 500 |
| Threshold (EBITDA) | 85% of goal ($3,974M) |
| Target (EBITDA) | 100% of goal ($4,676M) |
| Maximum (EBITDA) | 113% of goal ($5,284M) |
| Vesting Schedule | Three equal annual installments starting Feb 2024 |
2. TSR-Based PSUs
| Metric [Unit] | Value |
|---|---|
| Grant Date | Feb 3, 2023 |
| Grant Date Fair Value | $5,949,938 |
| Grant Date Stock Price | $107.66 |
| Shares at Target | 55,266 |
| Performance Metric | ICE's TSR vs. S&P 500 |
| Vesting Schedule | Three equal annual installments starting Feb 2024 |
3. Deal Incentive PSUs
| Metric [Unit] | Value |
|---|---|
| Grant Date | Oct 4, 2023 |
| Grant Date Fair Value | $8,000,000 |
| Shares at Target | 73,374 |
| Performance Metric | Revenue and expense synergy targets |
| Vesting Schedule | Vests in three equal installments starting Feb 8, 2028 |
4. Stock Option Awards
| Metric [Unit] | Value |
|---|---|
| Grant Date | Feb 3, 2023 |
| Number of Options | 108,633 |
| Grant Date Fair Value | $2,974,980 |
| Grant Date Stock Price | $107.66 |
| Exercise Price | $107.66 |
| Expiration Date | Feb 3, 2033 |
| Vesting Schedule | Vest ratably over three years following the grant date |
5. Non-Equity Incentive Bonus (Annual Executive Bonus Plan)
| Metric [Unit] | Value |
|---|---|
| Target Bonus Percentage | 250% of base salary (i.e., $3,125,000) |
| Maximum Bonus | 200% of target (i.e., $6,250,000) |
| Actual Payout | $3,406,250 (109% of target) |
| Performance Metric | Adjusted Net Income |
| Payment Form | Cash |
| Evaluation Period | Based on 2023 financial performance |
6. Value of Equity Awards Subject to Accelerated Vesting
| Metric [Unit] | Value |
|---|---|
| Components | EBITDA-Based PSUs, TSR-Based PSUs, Deal Incentive PSUs |
| EBITDA-Based PSUs Result | 154.7% of target achieved |
| Accelerated Vesting Value | $42,090,414 on Change in Control |
| Vesting Details | EBITDA PSUs: 33.3% each on Feb 12, 2024; Feb 12, 2025; Feb 12, 2026; TSR PSUs: 100% vesting on Feb 3, 2026; Deal Incentive PSUs: Vest over a five-year schedule |