Cedric Pech
MongoDBAbout Cedric Pech
Cedric Pech is 52 and serves as President of Field Operations (since December 9, 2024), after roles as Chief Revenue Officer (February 2019–December 2024) and EMEA Sales leader (from July 2017). He holds an MBA from Montpellier Business School and completed Classe Préparatoire at Lycée Bois Fleury Grenoble . His incentive design is tightly linked to company performance: annual bonus metrics are Net New ARR, Non-GAAP Operating Income, and Revenue (FY2025 payout 105.9%), while PSUs hinge on ARR Growth (70% weight) and Operating Cash Flow (30%) with FY2025 PSU earn-out certified at 82% and three-year ratable vesting .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| MongoDB | President, Field Operations | Dec 2024–present | Oversees global field, presales engineering, professional services to drive upmarket focus and app modernization . |
| MongoDB | Chief Revenue Officer | Feb 2019–Dec 2024 | Scaled enterprise sales with leadership infrastructure; enhanced sales rigor and productivity . |
| MongoDB | GM, EMEA Sales | Jul 2017–Feb 2019 | Grew EMEA performance, foundational leadership for global CRO role . |
| Fuze | SVP, Worldwide Sales | May 2015–May 2017 | Led global sales for enterprise cloud collaboration platform . |
| Fuze | GM, EMEA | Apr 2014–May 2015 | Ran EMEA business operations and sales . |
External Roles
No external public company board roles disclosed for Cedric Pech in MDB’s proxy .
Fixed Compensation
| Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Salary ($) | $272,196 | $292,358 | $302,500 |
| All Other Compensation ($) | $134,373 | $140,829 | $114,683 |
Base salary schedule:
| Named Executive Officer | 2024 Base Salary ($) | 2025 Base Salary ($) |
|---|---|---|
| Cedric Pech | $292,358 (paid in CHF, FX: 1.16 CHF/USD) | $302,500 (paid in CHF, FX: 1.10 CHF/USD) |
Performance Compensation
Annual Bonus – FY2025 Design and Outcome
| Metric | Weighting | Target Level | Actual | Weighted Impact | Payout % |
|---|---|---|---|---|---|
| Net New ARR | 35% | 100% of FY2025 operating plan | Below Target | 26.7% | |
| Non-GAAP Operating Income | 30% | 100% of FY2025 operating plan | Above Target | 34.26% | |
| Revenue | 35% | 100% of FY2025 operating plan | Below Target | 42.0% | |
| Overall Corporate Achievement | — | — | 102.96% | 102.96% | |
| Final Bonus Payout | — | — | — | — | 105.9% |
Bonus amounts for Cedric Pech (FY2025):
| Item | Value |
|---|---|
| Target Bonus Opportunity (%) | 140% of base |
| Target Bonus Opportunity ($) | $423,500 (paid in CHF, FX: 1.10 CHF/USD) |
| Actual Annual Bonus Earned ($) | $448,529 |
Notes:
- Payout curve capped at 150% with accelerators/decelerators; H1 payout 80.9% (90% achievement) and H2 payout 105.9% (102.96% achievement) .
- Bonus paid in cash for Cedric (CEO/CFO elected equity bonus PSUs) .
Long-Term Incentives – FY2025 Grants and Performance
RSU grants (time-based; vest quarterly 1/16 each quarter following April 1, 2024):
| Grant (Date) | Shares | Grant Date Fair Value ($) |
|---|---|---|
| RSU (Mar 22, 2024) | 9,733 | $3,460,082 |
| Vesting Terms | — | Quarterly 1/16 from Apr 1, 2024 |
PSU grants (target; earned 0–200% based on ARR Growth and Operating Cash Flow; subject to three-year ratable service vesting):
| Grant (Date) | Target PSUs (shares) | Grant Date Fair Value at Target ($) | FY2025 Earnout | Vesting Terms |
|---|---|---|---|---|
| PSU (Mar 22, 2024) | 9,733 | $3,460,082 | 82% certified | 3-year ratable; first vest later of Apr 1, 2025 or certification |
FY2025 PSU performance split:
| Metric | Weighting | Attainment | Weighted Impact | Final PSU Payout |
|---|---|---|---|---|
| ARR Growth | 70% | Below Target | 28% | |
| Operating Cash Flow | 30% | Above Target | 54% | |
| Total | — | — | — | 82% |
Program structure:
- Long-term awards targeted 50% RSUs / 50% PSUs; PSUs contingent on ARR Growth and Operating Cash Flow, RSUs service-based .
Multi-Year Total Compensation
| Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Stock Awards ($) | $6,911,509 | $7,107,244 | $6,920,163 |
| Non-Equity Incentive Plan Compensation ($) | $366,530 | $613,952 | $448,252 |
| Total ($) | $7,684,608 | $8,154,383 | $7,785,598 |
Equity Ownership & Alignment
Beneficial ownership (as of May 1, 2025):
| Holder | Shares Beneficially Owned | Ownership % |
|---|---|---|
| Cedric Pech | 17,960 | <1% |
| Shares Outstanding | 81,714,127 | — |
Outstanding equity awards (as of January 31, 2025):
| Grant Year | Type | Unvested/Unearned Shares |
|---|---|---|
| 2021 | RSU | 910 |
| 2022 | RSU | 3,713 |
| 2022 | PSU (unearned) | 3,413 |
| 2023 | RSU | 9,221 |
| 2023 | PSU (unearned) | 10,983 |
| 2024 | RSU | 7,909 |
| 2024 | PSU (unearned) | 9,733 |
Policies:
- Hedging and pledging of company stock prohibited for employees, directors, consultants .
- Executive stock ownership guidelines: CEO 5x salary; other executive officers 3x salary; five-year compliance window; counts include owned and vested-but-unsettled time-based RSUs; excludes unvested PSUs and options .
Employment Terms
Offer letter/employment agreement (Swiss law; effective Feb 11, 2019; amended/restated Jan 2022):
- Base salary: CHF 252,033 ($277,236, FX 1.10 CHF/USD) and target sales compensation CHF 352,846 ($388,131); amounts set and paid in CHF .
- Termination without cause or resignation for good reason: six months of base salary and six months of health insurance premium coverage; change-in-control protection: add six months target cash bonus, 100% acceleration of time-based awards, and acceleration of outstanding PSUs based on greater of target or actual performance; double-trigger (termination in connection with or within 3 months prior/12 months after change in control) .
Potential payments (as of Jan 31, 2025):
| Scenario | Base Salary ($) | Bonus ($) | Accelerated Equity ($) | Insurance ($) | Total ($) |
|---|---|---|---|---|---|
| Termination without cause or resignation for good reason | $151,250 | — | — | $2,962 | $154,212 |
| Same, in connection with change in control (double-trigger) | $151,250 | $635,250 | $12,540,468 | $2,962 | $13,329,930 |
Tax treatment:
- Section 280G cutback to maximize after-tax payout without 4999 excise tax; no excise tax gross-ups .
Clawback:
- Dodd-Frank 10D-1 restatement clawback policy (3-year lookback); separate misconduct recoupment policy up to 100% for specified misconduct or covenant breaches .
Insider Transactions and Vesting Cadence
Recent filings and transaction snapshots:
| Date | Type | Shares | Price | Source |
|---|---|---|---|---|
| Nov 25, 2024 | Automatic Sell | 6,805 | $350.00 | |
| Nov 13, 2024 | Automatic Sell | 965 | $300.00 | |
| Oct 4, 2024 | Form 4 (10b5-1 plan box checked) | — | — | |
| Apr 4, 2025 | Form 4 (multiple transactions) | — | — | |
| Jul 2, 2025 | Form 4 filed | — | — | |
| Oct 1–3, 2025 | Tax withholding (RSU vest) | 347 | $310.38 |
Context:
- Quarterly RSU vesting and annual PSU installments create predictable settlement and tax-withholding events; company policy prohibits hedging/pledging .
- Bonus equity elections applied to CEO/CFO; Cedric’s FY2025 bonus paid in cash .
Compensation Structure Analysis
- High equity mix and at-risk pay: For FY2025, the program balances short-term and long-term incentives with caps and multi-metric design; other NEOs averaged 90.3% of reported compensation in long-term equity; PSUs comprise 50% of long-term target value .
- Metric rigor and transparency: Annual bonus tied to Net New ARR, Non-GAAP Operating Income, and Revenue (final payout 105.9%); PSU earnout at 82% on ARR Growth/Operating Cash Flow with three-year vest .
- Governance protections: Double-trigger CoC vesting, no tax gross-ups, clawback (restatement and misconduct), anti-hedging/pledging, stock ownership guidelines (3x salary for executive officers) .
- Market benchmarking: Independent consultant Semler Brossy advises committee; peer group includes Snowflake, Datadog, CrowdStrike, Cloudflare, etc., with updates adding Confluent and Samsara for FY2026 benchmarking .
Compensation Peer Group & Say-on-Pay
- FY2025 peer group (examples): ANSYS, Cloudflare, Datadog, CrowdStrike, Dynatrace, HubSpot, Okta, Snowflake, The Trade Desk, Unity, DocuSign, Elastic, Five9, New Relic, Zscaler; methodology based on industry and size .
- FY2026 adjustments: Removed Five9 and New Relic; added Confluent and Samsara; MDB at ~33rd percentile revenue and ~40th percentile market cap vs revised group at approval .
- Say-on-Pay: 88% approval at 2024 annual meeting .
Investment Implications
- Alignment: Strong linkage of pay to ARR growth and operating cash flow via PSUs, with quarterly RSU vesting supporting retention; hedging/pledging ban and ownership guidelines reinforce alignment .
- Retention risk: Six months salary/benefits on termination and significant double-trigger CoC acceleration (estimated $13.33M total) suggest meaningful retention in normal course, but potential accelerated vesting in CoC scenarios could alter incentives near transactions .
- Trading signals: Regular RSU vesting and associated tax withholding events (e.g., Oct 2025) plus occasional 10b5-1–flagged sales (Oct 2024) indicate programmatic activity rather than opportunistic selling; monitor for any increases beyond plan cadence .
- Execution track record: Elevated to Field Operations leadership to drive upmarket focus; prior transcript commentary highlights disciplined scaling of sales leadership infrastructure—supportive of durable growth execution, which aligns with bonus and PSU metric design .