Richard Crum
About Richard Crum
Richard Crum is Executive Vice President, Chief Product and Technology Officer at CS Disco (DISCO), age 53, serving since November 2024 after joining DISCO as EVP, Chief Product Officer on July 15, 2024; he holds a B.S. in Economics from George Mason University . His background spans product leadership at Emburse (CPO) and Capital One (Managing VP, Head of Smart Pay), bringing customer-focused, commercially-oriented execution to DISCO’s product strategy . Company performance context during his tenure includes year-over-year revenue growth in FY 2024 and sequential operating improvement (e.g., Q2 2024 Adjusted EBITDA improved versus Q2 2023) .
Company Performance (context)
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Revenue ($USD Millions) | $138.1 | $144.8 |
| Metric | Q2 2023 | Q2 2024 |
|---|---|---|
| Adjusted EBITDA ($USD Millions) | $(7.4) | $(4.7) |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Emburse, LLC | Chief Product Officer | May 2023 – Jul 2024 | Oversaw solutions used by nearly 20,000 companies; drove product vision and innovation |
| Capital One | Managing Vice President, Head of Smart Pay | Mar 2020 – May 2023 | Developed Smart Pay and commercial card products |
| Mastercard | Various product/commercial roles | Not disclosed (prior to 2020) | Contributed to growth in commercial payments |
External Roles
No public company board roles or committee positions disclosed in company filings and press materials reviewed .
Fixed Compensation
| Component | Detail |
|---|---|
| Base Salary | $370,000 annualized |
| Target Bonus | 60% of base salary (discretionary, subject to corporate/individual goals and Board approval) |
| New-Hire Equity | RSUs valued at $800,000; vesting 25% on first quarterly vest date after first anniversary of start date, remaining 75% in equal quarterly installments over ~3 years (service-based) |
| Start Date and Role | Appointed EVP, Chief Product Officer July 9, 2024; employment commenced July 15, 2024; elevated to EVP, Chief Product and Technology Officer Nov 2024 |
| Work Location | Principally home office in Virginia with regular trips to DISCO HQ in Austin, TX |
Performance Compensation
| Incentive Type | Metric Basis | Target / Structure | Payout / Vesting |
|---|---|---|---|
| Annual Cash Bonus | Board-set corporate and individual goals | Target 60% of base; discretionary based on achievement | Paid by March 15 following year if earned; requires continuous service through payment |
| Company PSU Framework (context) | Revenue and Adjusted EBITDA + non-quantitative goals | Set annually by Compensation Committee/Board | 2024 PSU certification at 73% of target (36.5% of total award) for NEOs; PSUs vest ~3 years with certification followed by quarterly installments |
Note: DISCO’s bonus plan and PSU design anchor leadership incentives to revenue and Adjusted EBITDA performance; Crum’s own agreement sets bonus eligibility and timing, while equity grants referenced for him are service-based RSUs .
Equity Ownership & Alignment
- Hedging and monetization transactions are prohibited; trading in public derivatives, short selling, margin purchases, and pledging of DISCO shares are not permitted under Insider Trading Policy .
- Pre-clearance and blackout regime: Officers and senior leaders must pre-clear trades; quarterly and event-driven blackout periods apply, with robust Rule 10b5-1 plan controls .
- Compensation Committee oversees compliance with any stock ownership guidelines for directors and executive officers (numeric multiples not disclosed) and clawback policy administration .
Employment Terms
| Term | Key Provision |
|---|---|
| Employment Status | At-will; either party may terminate at any time |
| Severance – Outside CIC | Lump sum equal to 6 months base salary; COBRA premiums for up to 6 months (or equivalent taxable cash if direct payment not feasible) |
| Severance – During CIC Period | Lump sum equal to 12 months base salary; lump sum equal to 100% of annual target bonus; COBRA premiums for up to 12 months (or equivalent taxable cash if needed) |
| Equity – CIC Termination | Full acceleration of all outstanding unvested RSUs/stock awards; performance awards accelerate at 100% of target or higher based on actual performance at CIC |
| Equity – Not Assumed in CIC | If awards are not assumed/continued/substituted in CIC, unvested portion accelerates immediately prior to close; performance awards at target or higher based on actual performance |
| Severance Preconditions | Effective release of claims and compliance with Confidential Information and Inventions Assignment Agreement (CIIAA) |
| Clawback | Incentive and equity compensation subject to company clawback policy |
Investment Implications
- Compensation–performance alignment: Crum’s bonus eligibility is tied to Board-set corporate and individual goals, consistent with DISCO’s broader framework emphasizing revenue and Adjusted EBITDA achievement via PSUs for senior leadership, reinforcing operational and growth execution focus .
- Retention and vesting: New-hire RSUs vest over ~4 years, creating meaningful retention hooks; severance protection (6 months outside CIC, 12 months plus 100% target bonus in CIC) reduces turnover risk but provides standard market protections for senior product leaders .
- Selling-pressure risk mitigants: Prohibitions on hedging/pledging/margin trades, mandatory pre-clearance, and blackout periods mitigate opportunistic or leveraged selling, lowering near-term insider selling pressure signaling risk .
- Event-driven dynamics: Full equity acceleration on CIC termination and acceleration if awards are not assumed can concentrate realizable value around change-of-control events, which may create incentive alignment for strategic outcomes without requiring post-close employment continuity .
Overall: Crum’s package is conventional for growth-stage SaaS product leadership, with cash bonus tied to annual objectives and multi-year RSU vesting; governance controls on trading behavior and clawbacks strengthen alignment, while CIC mechanics are typical and not excessive relative to scope .