Samantha Harnett
About Samantha Harnett
Samantha Harnett is Logitech’s Chief Legal Officer and Corporate Secretary, age 49, U.S. national, serving as Corporate Secretary as of June 30, 2025; she joined Logitech as General Counsel in June 2020 and became CLO in April 2023. She holds a BA from California State University, Chico and a JD from Santa Clara University School of Law . Company performance in FY2025 (context for pay-for-performance): revenue $4,610,000,000 and net income $631,529,000, with Logitech’s TSR implying a $209 value of an initial $100 investment under the pay-versus-performance framework . Annual NEO bonuses in FY2025 were funded at 190% on corporate performance measures (revenue in constant currency and non-GAAP operating income), with the ESG scorecard at 100% of target; Ms. Harnett’s payout was 191% of target .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Eventbrite, Inc. | Chief Legal and Operations Officer | Oct 2019 – Jun 2020 | Oversaw legal and operations at a global ticketing/experience platform |
| Eventbrite, Inc. | SVP, General Counsel | May 2018 – Oct 2019 | Led corporate legal function |
| Eventbrite, Inc. | VP, General Counsel | Nov 2015 – May 2018 | Senior legal leadership |
| ZipRealty, Inc. | General Counsel & SVP Business Development | Oct 2009 – Nov 2015 | Legal leadership and BD at a real estate technology/online brokerage company |
| ZipRealty, Inc. | Legal roles | Mar 2005 – Oct 2009 | Progression to GC |
| Wilson Sonsini Goodrich & Rosati, P.C. | Associate | Prior to 2005 | Corporate law and transactions |
External Roles
| Public/Private Boards | Role |
|---|---|
| None; Logitech’s 2025 compensation report lists no external mandates for Ms. Harnett | — |
Fixed Compensation
Multi-year reported compensation (U.S. GAAP “Summary Compensation Table”):
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Salary ($) | 543,462 | 550,000 | 550,000 |
| Stock Awards ($) | 1,700,059 | 2,700,030 | 1,900,041 |
| Non-Equity Incentive Plan Compensation ($) | 105,000 | 528,000 | 841,500 |
| All Other Compensation ($) | 13,312 | 76,530 | 13,862 |
| Total ($) | 2,361,833 | 3,854,560 | 3,305,403 |
FY2025 “All Other Compensation” breakdown:
| Component | FY2025 ($) |
|---|---|
| 401(k) Company Match | 10,879 |
| Group Term Life & Long-Term Disability Insurance | 2,733 |
| Other (e.g., wellness reimbursement) | 250 |
| Total | 13,862 |
Bonus design and target:
| Bonus Plan (FY2025) | Target Bonus % of Base | Target ($) | Actual ($) | Payout (% of Target) |
|---|---|---|---|---|
| Annual Bonus Plan | 80% | 440,000 | 841,500 | 191% |
Performance Compensation
Annual bonus metrics (FY2025):
| Metric | Weighting | Target | Actual | Corporate Funding/Payout |
|---|---|---|---|---|
| Revenue (constant currency) | Not disclosed | Not disclosed | Company exceeded targets | 190% corporate funding |
| Non-GAAP Operating Income | Not disclosed | Not disclosed | Company exceeded targets | 190% corporate funding |
| ESG Scorecard (net carbon reduction/renewables/carbon labeling rollout) | Not disclosed | 100% of target | Achieved 100% of target | Incorporated in funding |
PSU program structure and grants:
| Grant | Grant Date | Type | Target Shares | Fair Value ($) | Performance/Vesting |
|---|---|---|---|---|---|
| Annual PSU (FY2025 cycle) | 04/15/2024 | PSUs | 22,515 | 1,900,041 | Three-year performance; 0–200% payout based on metrics, including non-GAAP operating income and revenue growth (equal weighting design), WACCR, average revenue growth, cash flow from operations, inventory turns, and TSR vs Russell 3000; settles in shares at end of period |
| One-time Additional PSU (transition retention award) | 08/15/2023 | PSUs | 15,247 target; 30,494 max | Not separately disclosed in SCT; part of FY2024 stock awards | Two-stage vesting: 50% vested on 02/15/2025 based on first 18 months (capped at 100%); remaining vests 08/15/2026 based on three-year performance net of first tranche |
| One-time PSU – 18-month results | Jul 2023–Dec 2024 | Metric | Target | Actual | Payout (Capped) |
| Cash Flow from Operations ($M) | — | 400 for 100%; 500 for 200% | 1,081 | 100% | |
| Inventory Turns (ratio) | — | 5 for 100%; 6 for 200% | 5.92 | 100% |
PSU design notes:
- FY2023–FY2025 standard PSUs did not meet minimum performance targets (negative revenue growth) and did not vest, evidencing performance linkage .
- Performance PSUs for NEOs generally vest at 0–200%; TSR component is measured against Russell 3000 benchmark; PSUs convert to RSUs upon change-in-control with proration per service if double-trigger conditions occur .
FY2025 equity vesting activity (value realized):
- Shares acquired on vesting: 24,404; value realized on vesting: $2,391,852 (based on closing price on vest dates) .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership (as of Jun 30, 2025) | 16,265 shares; <1% of outstanding |
| Unvested PSUs Outstanding (as of Mar 31, 2025) | 77,779 shares at target; market value $6,565,325 (priced at $84.41) |
| Options | None listed for Ms. Harnett |
| Shares Pledged/Hedged | Prohibited under Insider Trading Policy (hedging, pledging, short sales) |
| Stock Ownership Guidelines (Executive Officers) | 2x base salary for “Other Executive Officers”; 5x CEO; 3x CFO; 5-year compliance window; hold 50% of after-tax shares until compliant (CEO 100%) |
| Compliance Status | Company discloses NEOs have satisfied or have remaining time to achieve required levels; individual status not separately disclosed |
Employment Terms
- Employment and role: Joined Logitech as General Counsel in June 2020; appointed Chief Legal Officer in April 2023; serves as Corporate Secretary as of June 30, 2025 .
- Employment arrangements: At-will offers approved by Board/Comp Committee; initial comp includes base salary, target bonus, and potential equity recommendation .
- Notice/non-compete: NEO agreements generally entitle either a 12- or 9-month notice period or impose non-competition obligations upon termination/resignation .
- Change-of-control economics: Double-trigger equity acceleration only; RSUs accelerate in full; PSUs convert to RSUs at actual performance and prorate upon qualifying termination within 12 months post-CoC; no cash severance; no tax gross-ups .
- Potential CoC acceleration value (as of Mar 31, 2025): $2,008,367 in accelerated equity (based on $84.41 share price) .
- Clawback: Compensation recovery policy effective Oct 1, 2023 for Section 16 officers per SEC/Nasdaq (Dodd-Frank) .
Investment Implications
- Pay-for-performance alignment: FY2023–FY2025 PSUs did not vest due to performance shortfalls, demonstrating downside risk to equity awards; annual bonus funded at 190% on strong FY2025 corporate results, with Ms. Harnett at 191% of target .
- Ownership and potential supply: Beneficial ownership of 16,265 shares is modest vs extensive unvested PSUs (77,779 at target); FY2025 vestings created $2.39M of realized value, and the remaining one-time PSU tranche is scheduled for final performance vesting in August 2026, which can create vest-related liquidity considerations around those dates .
- Governance safeguards: No cash severance or CoC tax gross-ups, double-trigger equity only, plus prohibitions on hedging/pledging and a formal clawback policy — collectively reduce shareholder-unfriendly payout risks and misalignment concerns .
- Retention risk: Elimination of cash severance and reliance on performance equity increases retention tether to long-term metrics; agreements include notice/non-compete constructs that provide transition stability, but ultimate realizable value depends on multi-year performance against PSU metrics .