Amit Walia
About Amit Walia
Amit Walia, 53, is Chief Executive Officer of Informatica (since January 2020) and a director on the company’s board (since January 2020). He previously led Products and Marketing at Informatica and held leadership roles at Symantec, Intuit, and McKinsey; he began his career at Tata Group and Infosys. He holds a B.Tech. from IIT (BHU) Varanasi and an MBA from Northwestern Kellogg. In 2024, Informatica delivered GAAP revenue of $1.64B (+3% y/y), operating income of $127M (7.7% margin), and Cloud Subscription ARR of $827M (+34% y/y); a $100 investment at IPO-equivalent start was worth $89 at 2024 year-end vs $165 for the peer index; Adjusted CEBITDA was $614.4M and GAAP net income $9.9M.
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Informatica | CEO; previously President, Products & Marketing | CEO since Jan 2020; Products & Marketing Oct 2013–Jan 2020 | Drove platform strategy (IDMC), cloud transition, partner ecosystem; led product, marketing, UX, cloud ops. |
| Symantec | Leadership roles | Prior to 2013 | Enterprise software leadership experience. |
| Intuit | Leadership roles | Prior to 2013 | Consumer/SMB software operating experience. |
| McKinsey & Company | Consultant | Prior to 2013 | Strategy and operations advisory experience. |
| Tata Group; Infosys | Early career roles | Prior to 2013 | Foundation in technology and operations. |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Box, Inc. | Director | Since Aug 2022 | Public company board service. |
Fixed Compensation
| Year | Base Salary ($) | Target Bonus (%) | Target Bonus ($) | Actual Bonus Paid ($) | Notes |
|---|---|---|---|---|---|
| 2024 | 1,000,000 | 130% | 1,300,000 | — | CEO recommended reallocating his bonus ($633k) to non-executive pool; plan funded at 48.7% overall. |
| 2023 | 700,000 | 130% | 910,000 | 891,800 | 98% payout of target per plan results. |
Director fees: Walia received no additional compensation for board service.
Performance Compensation
2024 Corporate Bonus Plan – Structure
| Metric | Weight | Threshold | Target | Maximum | Payout at Threshold | Payout at Target | Payout at Max |
|---|---|---|---|---|---|---|---|
| Total ARR ($M) | 60% | 1,676.0 | 1,755.0 | 1,817.0 | 50% | 100% | 175% |
| Adjusted CEBITDA ($M) | 40% | 631.0 | 701.0 | 771.0 | 50% | 100% | 150% |
2024 Corporate Bonus Plan – Results
| Metric | Weight | Target ($M) | Actual ($M) | Achievement vs Target (%) | Metric Payout (unweighted) | Weighted Contribution |
|---|---|---|---|---|---|---|
| Total ARR | 60% | 1,755 | 1,725 | 98.3% | 81.1% | 48.7% × portion attributable to this metric |
| Adjusted CEBITDA | 40% | 701 | 614 | 86.7% | 0% (below threshold) | 0.0% |
| Plan outcome | — | — | — | — | — | 48.7% overall pool; CEO’s payout reallocated to employees |
Note: CEO’s FY2024 bonus was reallocated ($633,000) to non-executive participants.
2024 Performance Share Units (PSUs) – One-year Performance; 3-year service vesting
| Metric | Weight | Threshold | Target | Maximum | Actual | Payout (as % of target for that metric) |
|---|---|---|---|---|---|---|
| Cloud NARR ($M) | 40% | 190.3 | 237.8 | ≥297.3 | 211 | 85.6% |
| Total ARR ($M) | 30% | 1,649.7 | 1,755.0 | ≥1,825.2 | 1,725 | 88.7% |
| Adjusted CEBITDA ($M) | 30% | 630.9 | 701.0 | ≥771.1 | 665 | 0% |
| Total | 100% | — | — | — | — | 60.9% of target became eligible to vest over three years |
Shares earned (eligible to vest) under 2024 PSUs: Walia 126,672; one-third vested on Feb 15, 2025, remainder vests annually for two years, subject to service.
CEO Special Multi‑Year Price‑Based PSU (granted Nov 27, 2023; 3‑year performance + service vesting)
| Tranche | Allocation | Stock Price (90‑day VWAP) | Status |
|---|---|---|---|
| 1 | 50% | $30.00 | Achieved (certified Mar 19, 2024) |
| 2 | 25% | $32.50 | Achieved (certified Apr 11, 2024) |
| 3 | 25% | $35.00 | Not yet certified as achieved (through proxy filing) |
| Award covers 600,000 shares; service vests quarterly over three years for achieved tranches; special CoC treatment described in Employment Terms. |
Equity Ownership & Alignment
Beneficial Ownership (as of Mar 31, 2025)
| Holder | Class A Shares | % Class A | Notes |
|---|---|---|---|
| Amit Walia | 3,523,399 | 1.4% | Includes 1,114,082 shares held directly and 2,409,317 underlying options/RSUs/PSUs vesting within 60 days. |
- Company policies: No hedging or pledging of company stock by executives or directors.
- Executive stock ownership guidelines (effective Jan 1, 2025): CEO must hold ≥5x base salary within 5 years; unexercised options and unvested awards do not count.
- Director compensation/ownership: Directors have separate 5x cash retainer ownership guideline (executive officer directors excluded).
Selected Outstanding Equity Awards (Unvested at 12/31/2024)
| Grant Date | Award Type | Shares Unvested | Market Value at 12/31/24 |
|---|---|---|---|
| 11/27/2023 | Special price‑based PSU (3 tranches) | 450,000 | $11,668,500 |
| 03/15/2023 | 2023 PSU (performance-certified at 96.1%; service‑vesting) | 562,318 | $14,580,906 |
| 12/13/2022 | Time‑based RSU (qtrly over 3 years) | 365,712 | $9,482,912 |
| 11/27/2023 | Time‑based RSU (qtrly over 3 years) | 200,000 | $5,186,000 |
| 11/27/2023 | Time‑based RSU (qtrly over 3 years) | 187,508 | $4,862,082 |
| 02/26/2024 | 2024 PSU (60.9% earned; service‑vesting) | 208,000 | $5,393,440 |
| Values use $25.93 closing price on 12/31/2024 per proxy methodology. |
Options Snapshot (as of 12/31/2024)
| Grant | Exercisable | Unexercisable | Exercise Price | Expiration |
|---|---|---|---|---|
| Stock option (May 12, 2020) | 900,000 | — | $20.00 | 05/11/2030 |
| Stock option (Sep 21, 2021) | 370,861 | 370,860 | $25.40 | 09/20/2031 |
| Legacy options (2017–2018, smaller lots) | Various | — | $8.70–$10.00 | 2027–2028 |
2024 Realizations (Liquidity/overhang indicators)
| Item | Amount |
|---|---|
| Options exercised by Walia in 2024 | — |
| Shares vested (RSUs/PSUs) | 1,184,895 |
| Value realized on vesting | $35,767,955 |
Employment Terms
- At-will employment; executive severance agreement in place. No golden parachute tax gross‑ups; 280G best‑net (cut‑back if beneficial).
- Termination without cause/for good reason (outside CoC window): lump sum cash equal to 100% of base salary (CEO), up to 12 months COBRA, 1‑year post‑termination option exercise window.
- Double‑trigger Change in Control (3 months before to 12 months after CoC): lump sum 150% of base salary + 150% of target bonus (CEO), 18 months COBRA, full vesting of unvested equity (performance awards at 100% of target), 1‑year option exercise window.
- Special CoC treatment for 11/27/2023 price‑based PSU: performance period shortens to pre‑CoC and is measured against deal price; only tranches achieved by then remain eligible for service‑vesting; unachieved tranches are forfeited. Additional limited vesting if qualified termination outside CoC period with a 3‑month performance look‑forward.
- Post‑termination covenants: 12‑month non‑solicitation and non‑disparagement; release required.
- Clawback policy compliant with NYSE and SEC rules (effective for incentive comp on/after Oct 2, 2023).
Board Governance
- Role: CEO and Class I director; not independent (9 of 10 directors are independent; CEO is the sole non‑independent).
- Board structure: Non‑executive Chair (Bruce Chizen); regular executive sessions of non‑management directors with Chair presiding; all directors met ≥75% attendance in 2024.
- Controlled company: Permira and CPP Investments retain significant rights, including board nomination rights and vetoes over certain actions (e.g., CEO termination, major M&A/debt) while audit committee remains fully independent per NYSE rules.
- Committee service: Walia is not listed on audit, compensation, or nom/gov committees; he received no director compensation.
Director Compensation (for context; Walia receives none)
- Outside directors: $55,000 annual cash retainer; additional fees for committee roles; RSU grants ($240,000 annual; $340,000 for Chair) vesting by next AGM; ownership guideline 5x cash retainer (excludes executive officer directors).
Compensation Peer Group & Say‑on‑Pay
- Peer group (Aug 2024 update for 2024/2025 decisions) includes: Akamai, Blackbaud, Box, Confluent, Dayforce, DocuSign, Dropbox, Dynatrace, Elastic, Envestnet, FICO, Guidewire, Nutanix, Okta, Paycom, Pegasystems, PTC, RingCentral, Teradata, UiPath.
- Independent consultant (Compensia) advises the Compensation Committee; no conflicts.
- Say‑on‑Pay approval: >87% support in 2024 AGM for FY2023 program; company holds annual say‑on‑pay votes.
Performance & Track Record
Financial Performance (FY)
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($) | 1,505,118,000 | 1,595,160,000 | 1,640,018,000 |
| EBITDA ($) | 200,282,000* | 248,345,000* | 274,946,000* |
Values with asterisk were retrieved from S&P Global and may not have document citations. Values retrieved from S&P Global.
Additional context: 2024 Cloud Subscription ARR $827M (+34% y/y), GAAP operating income $127M (7.7% margin).
Pay vs Performance (selected Pay Versus Performance table items)
| Year | Company TSR (Value of $100) | Peer Index TSR (Value of $100) | GAAP Net Income ($000s) | Adjusted CEBITDA ($000s) |
|---|---|---|---|---|
| 2024 | 89 | 165 | 9,931 | 614,400 |
| 2023 | 98 | 122 | (125,283) | 566,600 |
| 2022 | 56 | 77 | (53,675) | 406,200 |
Risk Indicators & Related Party Context
- Clawback policy; anti‑hedging/anti‑pledging policies; no special perquisites (> $10k) in 2024.
- Controlled company with sponsor nomination/veto rights; sponsors conducted a $392.7M secondary offering in Nov 2024.
- Section 16 reporting: no delinquencies noted for 2024.
Equity Ownership & Alignment (Additional)
- Stock ownership guidelines adopted Jan 1, 2025 (CEO 5x salary, 5‑year window); compliance status not stated; unexercised options and unvested awards excluded from guideline counts.
- No hedging/pledging permitted; formal Insider Trading Policy on file.
Investment Implications
- Pay-for-performance alignment is strong: 2024 cash bonus pool funded at 48.7% and CEO elected to forgo payout; 2024 PSUs paid at 60.9% driven by mixed performance (ARR and Cloud NARR near target; Adjusted CEBITDA below threshold), signaling discipline tied to subscription growth and profitability metrics.
- Equity-heavy mix and large unvested awards imply continued retention incentives but also recurring vesting supply; Walia realized $35.8M in 2024 from vesting, though he did not exercise options—monitor for 10b5‑1 plan activity and secondary liquidity windows.
- Special price‑based PSU tranches 1 and 2 have been achieved, indicating management’s confidence and alignment with absolute TSR; remaining tranche requires sustained price performance.
- Governance risk: controlled company with sponsor veto rights and nomination rights; while the audit committee is independent and the board has a non‑executive Chair, investors should monitor sponsor transactions and board independence over time.
- External directorship at Box while Box is in the compensation peer group may raise optics on benchmarking; nevertheless, high say‑on‑pay support (>87%) indicates shareholder acceptance of the program design.