Rima Alameddine
About Rima Alameddine
Rima Alameddine (age 59) is IonQ’s Chief Revenue Officer (CRO) since December 2022, with a career spanning senior enterprise sales leadership at NVIDIA and Cisco. She holds an M.S. in computer engineering (Syracuse University) and a B.S. in computer & communications engineering (American University of Beirut) . Under her tenure, IonQ achieved 2024 revenue of $43.1 million and bookings of $95.6 million, alongside technical milestones; IonQ’s 2024 pay-versus-performance TSR index reached 454 (vs 100 baseline), reflecting strong share performance in 2024 . IonQ’s insider-trading policy prohibits hedging/pledging, and robust clawback and ownership guidelines are in place, aligning incentives with stockholder outcomes .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| NVIDIA | VP, Enterprise Sales, Healthcare/Life Science/Manufacturing, Americas | Nov 2018–Dec 2022 | Led enterprise sales across regulated-industry verticals in the Americas . |
| NVIDIA | VP, Enterprise Sales, East & Central U.S. | Jul 2016–Oct 2018 | Led regional enterprise sales execution . |
| Cisco Systems | Director, Enterprise Sales, New York | Aug 2012–2016 | Directed enterprise sales in New York market . |
| Cisco Systems | Director, Enterprise Sales, Financial Services | Nov 2010–Jul 2012 | Led enterprise sales for financial services clients . |
| Cisco Systems | Various roles | Sep 1998–Jul 2016 | Progressive sales leadership positions . |
External Roles
- No public-company board memberships or external directorships disclosed for Rima Alameddine .
Fixed Compensation
| Component | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary ($) | $30,303 | $400,000 | $409,000 (ending base $412,000 effective 4/1/24) |
| Target Annual Bonus (% of Base) | Not disclosed | Not disclosed | 50% |
| Annual Bonus Earned ($) | — | $375,000 (non‑equity incentive) | $153,000 (50% cash/50% RSUs; overall payout set at 75% of target) |
| Discretionary/“Bonus” Column ($) | $50,000 | $550,000 | — |
| Sales Bonus Target (% of Base) | — | — | 50% |
| Sales Bonus Earned ($) | — | — | $124,815 (paid 100% cash) |
| All Other Compensation ($) | — | $100 | $452 |
Performance Compensation
Annual Incentive (2024 OKR Framework)
| Metric | Weight | Target Definition | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Internal #AQ goal | 20% | Company technical threshold | Not disclosed | Included in overall payout | RSUs portion vests immediately; 50% cash/50% RSUs |
| Photonic connection demonstration | 15% | Technical milestone | Not disclosed | Included in overall payout | Same as above |
| Commissioning onsite system (customer) | 15% | Deployment milestone | Achieved delivery/commissioning noted for 2024 operations | Included in overall payout | Same as above |
| Bookings target | 30% | Company bookings | Full-year bookings $95.6M | Contributed to sales bonus eligibility | Same as above |
| Improved gate fidelity | 20% | Technical improvement | Not disclosed | Included in overall payout | Same as above |
| Overall annual plan payout | — | — | Primary bonus achieved at 67%; paid at 75% after committee adjustments | 75% of target | 50% cash/50% RSUs; RSUs immediately vest |
Long-Term Incentives (Equity)
| Award Type | Grant Date | Shares/Units | Key Terms | Vesting Schedule | Notes |
|---|---|---|---|---|---|
| Time-based RSUs | 3/4/2024 | 62,025 | One-third of annual intended equity value | Quarterly installments over 4 years; standard RSU footnote (1) | Value determined using 22-day avg price pre‑grant |
| Performance-based RSUs (PSUs) | 8/15/2023 | 194,676 unearned units outstanding at 12/31/2024 | Front-loaded, performance vesting through 12/31/2026 | Vest based on performance goals; performance period ending 12/31/2026 (footnote 2) | Part of company PSU design linking technical/financial goals |
| Stock Options | 12/5/2022 | 519,000 (exercisable and unexercisable tranches) at $4.65 strike | Options + RSUs combo grant | 25% initial vest; remainder quarterly; footnote (4) | Deep in-the-money vs $41.77 12/31/24 close |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Market value of unvested RSUs/options (time-based) | $43,215,551 at 12/31/2024 (computed at $41.77 per share for RSUs and option intrinsic value method) |
| Outstanding unearned PSUs | 194,676 units (performance period to 12/31/2026) |
| Stock ownership guidelines | 3x salary for NEOs; expected compliance within 5 years; net after-tax shares retained until achieved |
| Hedging/pledging | Prohibited; includes options/derivatives, margin, and pledging bans |
| Clawback | Recoupment policy compliant with SEC/NYSE; covers annual incentive and LTI gains upon restatement or metric recalculation |
Alignment assessment: Strong alignment via sizable unvested RSU/option exposure and front‑loaded PSUs through 2026; ownership rules plus hedging/pledging prohibitions reduce misalignment and leverage risks .
Employment Terms
| Provision | Outside CIC | CIC (Double Trigger) |
|---|---|---|
| Salary severance | $309,000 (9 months) | $412,000 (12 months) |
| Bonus severance | Target annual bonus + prorated target bonus ($412,000 total shown) | Target annual bonus + prorated target bonus ($412,000 + prorated) |
| Health benefits (COBRA subsidy) | $20,767 value | $27,690 value |
| Equity acceleration (time-based) | Full acceleration of time-based awards | Full acceleration of time-based awards |
| PSU treatment | Pro‑rated portion of target (outside CIC) upon involuntary termination; within 12 months post‑CIC, prorated greater of target or projected achievement, subject to stock price hurdle | |
| At-will; offer terms | CRO offer letter Dec 2022; base increased to $412,000 4/1/24; eligible for executive bonus plans and benefits |
Company Performance Context (for alignment)
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Revenue ($000s) | $11,131 | $22,042 | $43,073 |
| Net loss ($000s) | $(48,511) | $(157,771) | $(331,647) |
| TSR index (fixed $100 basis) | 37.50 | 134.67 | 454.02 |
| Bookings ($MM) | — | — | $95.6 |
Compensation Structure Notes (Governance Signals)
- Executive compensation philosophy emphasizes pay-for-performance via technical milestones and financial measures correlating with TSR; mix of time-based RSUs and front-loaded PSUs for multi-year retention .
- Stockholder Say‑on‑Pay: 95% support in 2024; annual frequency supported by ~98% and adopted .
- Compensation peer groups updated in 2024 to reflect development-stage tech comparables (e.g., C3.ai, QuantumScape, SoundHound AI, etc.) .
Investment Implications
- Incentive alignment and retention: Significant unvested RSUs/options ($43.2M) and performance PSUs through 2026 create strong retention and execution incentives, reducing near-term departure risk; hedging/pledging bans and ownership guidelines further align with shareholders .
- Selling pressure: Annual bonus RSUs vest immediately, and quarterly-vesting RSUs introduce a predictable supply cadence; sizable deep ITM options (519,000 at $4.65) could translate to realized gains, but pledging/hedging is prohibited, and clawbacks apply in restatement scenarios .
- Change‑in‑control economics: Double‑trigger severance (12 months salary + target bonus, health benefits) with full acceleration of time-based equity and favorable PSU treatment can influence executive stability during strategic events; not shareholder‑unfriendly (no excise tax gross‑ups; clawback in place) .
- Performance linkage: Annual plan tied to bookings/technical milestones; sales bonus paid on bookings achievement indicates CRO line‑of‑sight to commercial outcomes; company revenue and TSR improved materially in 2024, supporting pay-for-performance posture .