Beth Tschida
About Beth Tschida
Beth Tschida, age 56, is Chief Technology Officer (CTO) at Jamf, serving in this role since January 2022 after joining Jamf as SVP of Engineering in August 2018. She previously led technology teams for 20+ years at Fortune 100 financial services firms, with experience in digital transformations, M&A, and internal systems; she holds a bachelor’s degree from the University of Minnesota, Carlson School of Management . Company performance during her tenure included 2024 ARR of $646.0M (+10% YoY), revenue of $627.4M (+12% YoY), and non-GAAP operating income of $103.1M (vs. $45.4M in 2023), with 2024 ACIP payouts at ~98% of target based on ARR and margin performance . Pay-versus-performance shows cumulative TSR (fixed $100 investment) at $35.84 in 2024 vs peer group $260.74 and net income of $(68.5)M, while ARR reached $646.0M .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Jamf | SVP, Engineering | 2018–2022 | Scaled global engineering; expanded product delivery capabilities on Apple Enterprise Management platform |
| Fortune 100 Financial Services (various) | Technology leader | ~20+ years (pre-2018) | Led digital transformations, M&A integration, and internal systems development |
External Roles
No public-company directorships or external board roles disclosed for Ms. Tschida .
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | 306,100 | 330,000 |
| Target Bonus (% of Salary) | 50% | 55% |
| Actual Bonus Paid ($) | 142,796 | 172,614 |
| Perquisites and Benefits ($) | 9,999 (401k, life insurance; small tax gross-up) | 10,395 (401k, life insurance; small tax gross-up) |
Notes: Jamf targets cash and equity at the 50th percentile versus its peer group; executive benefits are consistent with employees, with limited perquisites and a Nasdaq-compliant clawback policy .
Performance Compensation
| Component | Metric | Weight | Threshold | Target | Actual 2024 | Payout |
|---|---|---|---|---|---|---|
| Corporate | ARR ($M) | 60% | 638.0 | 663.0 | 646.0 | Scaled linearly; contributes to ~98% overall payout |
| Corporate | Non-GAAP Operating Income Margin (%) | 40% | 14.4% | 15.4% | ~16.4% | Scaled linearly; contributes to ~98% overall payout |
| Individual | Functional goals (CTO) | 20% of target bonus for Ms. Tschida | — | Target | Target met | Included in ~98% overall payout |
| Culture/Leadership Modifier | ERG support; training & development | ±10% reduction; +5% stretch | — | Target | Target met | No reduction; no additional stretch beyond overall ~98% |
2024 ACIP outcomes: For NEOs including CTO, corporate metrics comprised 80% of target bonus and individual performance 20%; weighted payout was ~98% of target for Ms. Tschida . Jamf’s 2023 framework used ARR (70%) and non-GAAP operating income margin (30%) with overall ~93.3% payout; Ms. Tschida’s 2023 bonus was $142,796 .
Equity Ownership & Alignment
- Beneficial Ownership (4/14/2025): 41,149 shares; includes 1,603 shares held by her child .
- Hedging/Pledging: Company policy prohibits hedging and pledging/margin accounts without specific written approval; insider trading clearance and blackout periods apply .
- Stock Ownership Guidelines: No executive ownership multiple disclosed in proxy; Jamf emphasizes RSUs and pay-for-performance alignment .
- Outstanding RSUs (Unvested, 12/31/2024):
- 6/1/2021: 11,878 units (market value $166,886 at $14.05 close)
- 3/15/2022: 34,185 units ($480,299)
- 3/15/2023: 80,746 units ($1,134,481)
- 3/15/2024: 179,154 units ($2,517,114)
- RSU Grants (Grant-date fair value):
- 3/15/2023: $2,149,990
- 3/15/2024: $3,179,984
- Vesting Schedule: RSUs vest 25% annually over four years; full acceleration upon a qualifying termination within the Change-of-Control (CoC) period (double-trigger) .
- 2023 Option Activity: Exercised 126,042 options in 2023 (value realized $1,744,419); indicates legacy options from pre-IPO plans . 2024: No option exercises; RSUs vested 55,885 shares (value $995,306) .
- Form 4 Monitoring: Attempt to fetch insider Form 4s encountered an authorization error; analysis relies on proxy-reported holdings and vesting/exercise disclosures .
Employment Terms
| Provision | 2024 Proxy | 2025 Proxy |
|---|---|---|
| Employment letter terms | At-will; confidentiality, invention assignment, non-solicit, non-compete, arbitration | At-will; confidentiality, invention assignment, non-solicit, non-compete, arbitration |
| Severance (No CoC) | 12 months of base salary (≈1.0x) | 6 months of base salary (≈0.5x) |
| Severance (With CoC) | 12 months of salary plus prorated bonus at target; 100% acceleration of time-based equity (double-trigger within CoC period) | 12 months of salary plus prorated bonus at target; 100% acceleration of time-based equity (double-trigger within CoC period) |
| RSU Acceleration | Upon qualifying termination in CoC period (double-trigger) | Upon qualifying termination in CoC period (double-trigger) |
| Clawback | Nasdaq 10D-compliant clawback covering incentive-based pay for 3 fiscal years in case of restatement (applies to compensation “received” on/after Oct 2, 2023) | Nasdaq 10D-compliant clawback |
| Tax Gross-ups | No golden parachute tax gross-ups disclosed; only small travel-related tax gross-ups appear in “All Other Compensation” |
Change noted: CTO severance without CoC decreased from 12 months in 2024 to 6 months in 2025; CoC terms remain double-trigger with full RSU acceleration and prorated bonus at target .
Company Performance (Context for Pay-For-Performance)
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($) | 478,776,000* | 560,571,000* | 627,399,000* |
| EBITDA ($) | (78,707,000)* | (54,561,000)* | (7,266,000)* |
*Values retrieved from S&P Global.
Compensation Program Design (Peer Benchmarking and Risk Controls)
- Peer Group: Altair Engineering, Dynatrace, PagerDuty, Sprout Social, Appfolio, Elastic, Paylocity, SPS Commerce, Asana, Everbridge, Q2, Varonis, Blackline, Five9, Rapid7, Workiva, Ceridian HCM, nCino, SentinelOne, Domo, New Relic, Smartsheet .
- Target Percentile: Cash and equity generally targeted at 50th percentile; primary long-term incentives via RSUs; no option re-pricing; limited perquisites; no SERP .
- Hedging/Pledging: Prohibited without approval; 10b5-1 plan compliance and pre-clearance required .
- Say-on-Pay 2025 Vote Results: For 109,822,950; Against 6,548,555; Abstain 166,703; Broker non-votes 7,602,251 .
Investment Implications
- Alignment: CTO equity is predominantly unvested RSUs with 4-year vesting and double-trigger CoC acceleration, aligning interests with long-term share performance; 2024 payout sensitivity to ARR and margin demonstrates pay-for-performance linkage .
- Retention Risk: Reduction in non-CoC severance from 12 months to 6 months (2025) modestly lowers guaranteed cash protection, but substantial unvested RSUs (≈306k unvested units across 2021–2024 grants with significant value) increase retention incentives tied to continued service .
- Selling Pressure: 2023 option exercises reflect legacy equity monetization; 2024 lacked option exercises and instead showed regular RSU vesting; no evidence of pledging/hedging per policy (red-flag risk appears low) .
- Performance Execution: With ARR and margin above targets and bonus payout near target, engineering execution appears consistent; however, multi-year TSR lag vs peers underscores equity value sensitivity and investor focus on improving profitability and growth quality .