Aaron Saltz
MAGNITEAbout Aaron Saltz
Aaron Saltz is Chief Legal Officer at Magnite (MGNI), serving in this role since January 2023; he previously served as General Counsel and Corporate Secretary from April 1, 2020 to December 2022. He is 44 years old (as of April 7, 2025) and holds a B.A. from Cornell University and a J.D. from Harvard Law School. Company performance during his tenure includes record revenue of $668.2M in 2024 (+7.8% YoY) and Adjusted EBITDA of $196.9M, following $619.7M revenue in 2023 (+7.4%) and $577.1M in 2022 (+23%); Magnite also reports PSU programs measured on relative TSR vs. Russell 2000 with mixed outcomes (e.g., CEO’s Feb 2022 PSU certified at the 67.42th percentile, 124.83% of target; April 2021 PSU at the 17.20th percentile, 0%) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Magnite (formerly Rubicon Project/Telaria merger) | General Counsel & Corporate Secretary | Apr 2020–Dec 2022 | Led legal function through merger integration and platform expansion . |
| Telaria, Inc. | General Counsel | Nov 2015–Apr 2020 | Supported CTV leadership, legal oversight during Telaria growth and merger . |
| Telaria, Inc. | VP, Associate General Counsel | Jan 2013–Oct 2015 | Advanced commercial and corporate legal matters . |
| Skadden, Arps, Slate, Meagher & Flom LLP | Attorney, M&A Department | 2005–2013 | Executed complex M&A transactions, foundational corporate legal experience . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Skadden, Arps, Slate, Meagher & Flom LLP | Attorney (M&A) | 2005–2013 | Advised on large-scale corporate transactions, adding depth to Magnite’s transactional expertise . |
Fixed Compensation
- Not disclosed. Aaron Saltz is not a Named Executive Officer (NEO) in MGNI’s proxy statements; therefore, base salary and bonus details are not reported .
Performance Compensation
- Not disclosed. RSU/PSU grant specifics, vesting schedules, and cash incentive outcomes are only provided for NEOs; Saltz is not included in those tables .
Equity Ownership & Alignment
- Beneficial ownership: Not individually disclosed in the beneficial ownership table (covers 5% holders, directors, and NEOs) .
- Hedging/pledging: Company-wide insider policy prohibits hedging (e.g., collars, swaps, options) and pledging of MGNI shares; short sales and speculative derivative transactions are also prohibited .
- Stock ownership guidelines: Apply to the CEO and NEOs (6x salary for CEO; 2x for other NEOs), with holding requirements if under guidelines; no explicit disclosure that Saltz is a NEO or subject to these thresholds .
- Indemnification: MGNI has indemnification agreements with each current director, executive officer, and certain other officers .
Employment Terms
- Role and tenure: Chief Legal Officer since January 2023; previously General Counsel and Corporate Secretary from April 1, 2020 .
- Election of officers: Executive officers are elected by, and serve at the discretion of, the Board; no family relationships among directors or executive officers .
- Garden leave/non-compete/non-solicit: Not specifically disclosed for Saltz in proxy filings .
Compensation Peer Group and Governance
- Peer groups used to calibrate NEO compensation and design:
- FY2025 peer group included firms such as Blackline, DoubleVerify, LiveRamp, PubMatic, Zeta Global, among others .
- FY2024 peer group included Digital Turbine, Integral Ad Science, MediaAlpha, PubMatic, TechTarget, etc. .
- FY2023 peer group included DoubleVerify, fuboTV, PubMatic, Quotient Technology, Zeta Global, etc. .
- Governance features: No single-trigger CIC benefits; no tax gross-ups; clawback policy updated Oct 2, 2023 to comply with Exchange Act Rule 10D-1; prohibitions on repricing options or cash buyouts without shareholder approval .
Say-on-Pay & Shareholder Feedback
| Year | Say-on-Pay Approval (%) |
|---|---|
| 2022 | ~56% |
| 2023 | ~96% |
| 2024 | ~93% |
- Management responses included enhancing performance orientation (increasing PSU mix for CEO to 50% and introducing PSUs for other NEOs), and revising guidelines/holding requirements; off-cycle awards were constrained following investor feedback .
Company Performance Context (during Saltz’s tenure)
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenue ($USD Millions) | $577.1 [+23% YoY] | $619.7 [+7.4% YoY] | $668.2 [+7.8% YoY] |
| Adjusted EBITDA ($USD Millions) | $178.8 | $171.4 | $196.9 |
Risk Indicators & Red Flags
- Hedging/pledging: Prohibited for all insiders, reducing misalignment risk .
- Clawback: Robust clawback covering restatements, fraud/bribery; aligned with updated SEC/Nasdaq rules .
- Tax gross-ups: None for change-in-control benefits (as applicable to NEOs) .
- Indemnification: Standard for executive officers .
- Insider selling pressure: No Form 4 analysis included here; not disclosed in proxy for Saltz .
Investment Implications
- Limited compensation disclosure for Saltz constrains pay-for-performance analysis, as he is not a NEO; investors should rely on governance policies (hedging/pledging prohibitions, clawback) and company-level outcomes to assess alignment .
- MGNI’s multi-year revenue growth and improved Adjusted EBITDA in 2024, alongside strong Say-on-Pay outcomes in 2023–2024, point to investor acceptance of the broader compensation framework and execution, though TSR outcomes in PSU programs show variability (underscoring market sensitivity) .
- Legal leadership stability since 2020/2023 (GC→CLO) through major integrations (Telaria/SpotX/SpringServe) supports execution continuity; indemnification and insider trading policies mitigate governance risks .
Note: Specific salary, bonus, and equity grant details for Aaron Saltz are not disclosed in MGNI’s DEF 14A filings, as he is not a Named Executive Officer; any severance/change-of-control economics in proxies pertain to NEOs and are not expressly attributed to Saltz .