John Collins
LIVEPERSONAbout John Collins
John D. Collins is CFO (since 2020) and COO (since January 2024) of LivePerson; he also served as Interim CEO from August 2023 to January 2024. Age 43 as of May 1, 2025; education includes MBA (MIT Sloan), JD (Chicago‑Kent College of Law), and BS (University of Central Florida), with prior roles in AI/data science and institutional investing . Company pay‑for‑performance is anchored to operational metrics; in 2024 LivePerson achieved positive adjusted EBITDA ($24.1m) but recorded a net loss ($134.3m) and severe TSR decline (cumulative $100 → $4.26), which drove annual bonus payouts to 30% of target . Collins’ biography highlights execution of M&A, divestitures, and capital markets transactions and building ML-driven decision tools at LivePerson and Thasos .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| LivePerson | CFO | 2020–present | Led finance; executed M&A, divestiture, capital markets; strategy/business development |
| LivePerson | COO | Jan 2024–present | Operational leadership alongside CFO responsibilities |
| LivePerson | Interim CEO | Aug 2023–Jan 2024 | Managed CEO transition; emphasized rightsized cost structure and execution focus |
| LivePerson | SVP, Quantitative Strategy | 2019–2020 | Built automations/ML for predictive analytics supporting decisions |
| Thasos (AI/data platform) | Co‑Founder & Chief Product Officer | 2016–2019 | Transformed third‑party data exhaust into investment signals |
| Thasos | Portfolio Manager | 2013–2016 | Ran systematic equities strategy |
| Credit Suisse | Leveraged Finance | Prior to 2013 | Structured leveraged finance transactions |
| NYSE | Surveillance | Prior to 2013 | Built automated surveillance to detect suspicious trading |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| NYC‑based hedge fund | Portfolio Manager | Prior to 2013 | Managed systematic equities strategy |
| Thasos (private) | Co‑Founder/Exec | 2013–2019 | AI/data innovations for investment signals |
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | 525,000 | 525,000 |
| Retention/Other Bonus ($) | 300,000 (Interim CEO/CFO fixed bonus, paid Sep 2023–Jan 2024) | 575,000 (retention bonus; paid Jan 12 and Jul 12, 2024) |
| Other Compensation ($) | 39,961 | 40,334 |
| Total Fixed (Base + Retention/Other Bonus + Other) ($) | 864,961 | 1,140,334 |
Notes:
- Retention bonuses were approved in late 2023 to support leadership continuity during the CEO transition .
Performance Compensation
| Component | Metric | Weight | Threshold / Target / Max | Actual FY2024 | Payout Basis | Collins Target ($) | Collins Earned ($) |
|---|---|---|---|---|---|---|---|
| Annual Cash Bonus | B2B Recurring Monthly Revenue | 30% | $296 / $307 / $320 mm | $289 mm | Below threshold | 323,750 | — (pays only if ≥ threshold) |
| Annual Cash Bonus | B2B New Annual Recurring Revenue (net of churn) | 30% | $(31) / $(23) / $8 mm | $(55) mm | Below threshold | 323,750 | — |
| Annual Cash Bonus | B2B Free Cash Flow | 40% | $(6) / $2 / $10 mm | $3 mm | 100% of metric slice | 323,750 | 97,125 (30% of total target) |
Equity awards (2024):
- RSUs: 840,000 granted 9/23/2024; vest in full on first anniversary (9/23/2025) .
- Prior PRSUs (2022 grant): earn based on revenue, adjusted EBITDA, and relative TSR over 3 years; final earned PRSUs vest on 7/27/2025 .
Equity Ownership & Alignment
| Snapshot Date | Beneficial Ownership (Shares) | % of Outstanding | Notes |
|---|---|---|---|
| May 1, 2025 | 162,574 | * (<1%) | Includes 93,944 options exercisable within 60 days; options excluded from ownership guidelines |
| Sept 15, 2025 | 1,051,956 | * (<1%) | Includes 93,944 options; also shows 840,000 RSUs vesting within 60 days and 27,775 PRSUs settling within 60 days in footnote context |
Upcoming/Outstanding Awards and Vesting
- RSUs: 840,000 vest 9/23/2025 (one‑year cliff) .
- PRSUs (2022 cycle): final vest 7/27/2025 (earned based on 3‑year performance + relative TSR modifier) .
- Stock Options: remaining unvested portion from 4/9/2021 vests 5/7/2025; strikes $27.39–$51.74 (older grants $40.61 etc.) .
- As of 4/30/2025, share price was $0.87; all disclosed Collins option strikes are far above this level (out‑of‑the‑money) .
Ownership Policies and Pledging
- Executive ownership guideline: 2× current base salary for NEOs; compliance measured by 2027; unvested RSUs/PRsUs and unexercised options do not count; must hold all net shares from equity settlements until meeting guideline .
- Hedging/short sales prohibited; margining/pledging of Company stock prohibited without approval (and “new pledging” prohibited for directors); no pledges disclosed for Collins .
Employment Terms
| Scenario | Cash Severance | Health (COBRA) | Bonus Treatment | Equity Treatment | Notes |
|---|---|---|---|---|---|
| Termination without Cause (non‑CIC) | 6 months base salary | 6 months reimbursement | Earned but unpaid annual bonus paid | No acceleration disclosed (non‑CIC) | Release required |
| Good Reason/No Cause within 3 months before or 12 months after Change‑of‑Control (double trigger) | 12 months base salary | 12 months reimbursement | Prior year target bonus (if not yet paid) + prorated current‑year target bonus | Immediate vesting of all unvested options and other unvested equity awards; vested options exercisable for 90 days | Double‑trigger CIC protection |
| Clawback | Mandatory recovery of erroneously awarded incentive comp after accounting restatement (Rule 10D‑1 compliant; effective Oct 2, 2023) | ||||
| Deferred Comp | Plan exists; current NEOs have not elected deferrals; no company contributions to date | ||||
| Perquisites | None beyond standard benefits (401k match; health, dental, vision, disability, life insurance) |
Investment Implications
- Pay‑for‑performance discipline: 2024 annual bonus paid at 30% of target as growth metrics missed, while FCF exceeded target; RSU/PRSU mix ties upside to multi‑year performance and share vesting, aligning Collins with FCF and TSR outcomes .
- Limited option overhang and low exercise pressure: Collins’ options have strikes ($27–$52) far above $0.87 share price (4/30/25), implying minimal near‑term exercise/overhang and no in‑the‑money optionality unless a major re‑rating occurs .
- Near‑term vesting‑related selling pressure: One‑year cliff RSUs (840k) vest on 9/23/2025; expect net‑share sales to cover withholding taxes, a potential source of insider supply around that date .
- Retention risk mitigated but present: Double‑trigger CIC severance with full equity vesting reduces entrenchment but can incentivize exit in strategic transactions; 2023–2024 retention bonuses (total $875k across programs) indicate Board focus on continuity through transition .
- Ownership alignment: Executive ownership guidelines (2× salary by 2027) and strict anti‑hedging/pledging enhance alignment; current beneficial stake is <1% of outstanding shares, with most upside from RSUs/PRSUs rather than options .
- Governance and shareholder sentiment: Say‑on‑pay approval was 88% in 2024, supporting the compensation program trajectory; ongoing clawback and equity plan governance features (no evergreen, no tax gross‑ups; dividend equivalents paid only upon vesting) are shareholder‑friendly .
Appendix: Multi‑Year Compensation Summary (Collins)
| Year | Salary ($) | Bonus ($) | Stock Awards ($) | Option Awards ($) | Non‑Equity Incentive ($) | Other ($) | Total ($) |
|---|---|---|---|---|---|---|---|
| 2023 | 525,000 | 300,000 | 1,450,059 | — | 164,299 | 39,961 | 2,479,319 |
| 2024 | 525,000 | 575,000 | 890,400 | — | 97,125 | 40,334 | 2,127,859 |
Appendix: Outstanding Equity Awards (as of 12/31/2024)
| Award Type | Quantity | Strike/Terms | Key Vest Dates | Status/Value Basis |
|---|---|---|---|---|
| Stock Options (2019) | 27,818 | $40.61 | — | Out‑of‑the‑money at $0.87 (4/30/25) |
| Stock Options (2020) | 37,126 | $27.39 | — | Out‑of‑the‑money |
| Stock Options (2021) | 29,000 ex / 7,250 unex | $51.74 | Unvested portion vests 5/7/2025 | Out‑of‑the‑money |
| RSUs (legacy) | 3,400; 87,146 | 4‑yr vest (25% year‑1, then annually) | Ongoing | Market value basis $1.52 on 12/31/24 |
| PRSUs (2022 target basis) | 37,034 | Earn based on revenue, adj. EBITDA, relative TSR | Vest 7/27/2025 | Subject to performance/TSR modifier |
| RSUs (2024 grant) | 840,000 | One‑year cliff | Vest 9/23/2025 | Annual equity; full vest then |
Policy & Peer Context
- Compensation peer group used for benchmarking (updated 2024/2025) includes Amplitude, Fastly, Model N, OneSpan, PROS, Zuora, Yext, 8x8, Olo, Upland, etc.; Compensia advises the Compensation Committee .
- Director/committee independence and governance practices summarized (independent committees; annual evaluations; risk assessment of comp programs) .
Investment Implications
- Collins’ incentive mix emphasizes RSUs/PRSUs and cash tied to measurable operating goals; 2024 results curtailed cash bonuses while equity remains the primary alignment lever over 2025–2026 .
- The September 2025 RSU cliff is a visible insider‑supply catalyst; options are currently economically irrelevant absent major price recovery, limiting optionality risk .
- Double‑trigger CIC acceleration and cash protections reduce retention risk around strategic events while maintaining shareholder‑friendly clawbacks and anti‑hedging/pledging that support alignment and governance quality .
- With say‑on‑pay at 88% and improved FCF versus targets, compensation appears responsive to performance, though broader TSR/net loss trends indicate continued execution and value‑creation risk that investors should monitor through 2025 vesting and PRSU outcomes .