Robert Oseland
PLAYSTUDIOSAbout Robert Oseland
Robert L. Oseland, age 58, is Chief Operating Officer of PLAYSTUDIOS (appointed January 23, 2025). He joined the company in 2019 as General Manager of playAWARDS and spent the past two years as Portfolio President of the Americas overseeing casual games, playAWARDS, and studio operations; he holds a B.S. in Hospitality Management from UNLV and brings 30+ years of gaming/hospitality experience, including COO of Paragon Gaming and leadership roles at Wynn Resorts (opening Wynn Las Vegas and Encore) . Company-level TSR, revenue, and EBITDA growth metrics tied to his tenure are not disclosed; notably, FY2024 PSUs for NEOs did not vest due to performance targets not achieved, signaling stricter goalposts or underperformance versus targets .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| PLAYSTUDIOS (playAWARDS) | General Manager | Since 2019 | Led global loyalty/marketing platform; foundational role before elevation |
| PLAYSTUDIOS | Portfolio President, Americas | Past two years (as of Jan 2025) | Oversaw casual portfolio, playAWARDS, and studios in Las Vegas, San Francisco, Portland |
| Paragon Gaming | Chief Operating Officer | Not disclosed | Managed portfolio of North American hospitality and gaming properties |
| Wynn Resorts, Ltd. | Various leadership positions | Not disclosed | Instrumental in opening/operations of Wynn Las Vegas and Encore |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Paragon Gaming | Chief Operating Officer | Not disclosed | Operated multi-asset gaming/hospitality portfolio |
| Wynn Resorts, Ltd. | Leadership roles | Not disclosed | Key operations leadership in major resort openings (Wynn Las Vegas, Encore) |
Fixed Compensation
| Component | Amount | Effective Date | Notes |
|---|---|---|---|
| Base Salary | $400,000 | Jan 23, 2025 | Increased upon appointment as COO |
| Annual Bonus | Discretionary | Ongoing | Amount determined by Compensation Committee; no fixed target % disclosed |
| Equity Program Use | RSUs (time-based), PSUs (performance-based) | Ongoing | Company emphasizes multi-year RSUs; PSUs tied to annual financial targets; does not currently grant options to executives (historically had options company-wide) |
Performance Compensation
| Award Type | Grant Date | Metric | Weighting | Target | Actual/Payout | Vesting |
|---|---|---|---|---|---|---|
| RSUs | Jan 23, 2025 | Service (time-based) | Not disclosed | N/A | N/A | 250,000 RSUs vest Jan 15, 2028, continuous employment required |
| PSUs | Jan 23, 2025 | Company financial performance (FY2025–FY2027 targets) | Not disclosed | Targets set by Compensation Committee | Payout range 0–100% based on performance | 716,666 PSUs scheduled: 233,333 vest Feb 28, 2026; 233,333 vest Feb 28, 2027; 250,000 vest Feb 28, 2028, subject to employment and performance |
| RSUs | Mar 7, 2025 | Service (time-based) | Not disclosed | N/A | N/A | Additional grant: 250,000 RSUs vest Jan 15, 2028 (same date) |
| PSUs | Mar 7, 2025 | FY2025 financial performance | Not disclosed | FY2025 targets | Actual number issued ranges 0–100% of 233,333 PSUs | 233,333 PSUs vest Feb 28, 2026, performance- and service-based |
| PSUs (Company-wide FY2024) | Mar 11, 2024 | FY2024 financial targets | Not disclosed | FY2024 targets | Not achieved; PSUs did not vest | NEO awards forfeited; indicative of stringent targets or underperformance |
Notes:
- PSUs metrics (e.g., revenue/EBITDA/TSR) and weightings are not specified in filings; Compensation Committee sets annual targets .
- Company’s broader executive equity approach emphasizes RSUs for retention; PSUs for pay-for-performance; no current options program to executives .
Equity Ownership & Alignment
| Holder | Beneficial Ownership (Shares) | % of Outstanding | Vested vs Unvested | Pledging/Hedging |
|---|---|---|---|---|
| Robert L. Oseland | 582,543 | Not disclosed in table (“*”) | Not disclosed (not a 2024 NEO; outstanding award detail not presented) | Company policy prohibits hedging and pledging; shorting also prohibited |
Additional note: The Jan 23, 2025 appointment 8-K references “restricted stock units and stock options previously granted” in prior roles; specific option strike/expiry/quantity not detailed in available filings .
Employment Terms
| Provision | Non-CIC Qualifying Termination | CIC Qualifying Termination | Eligibility / Tier | Other Conditions |
|---|---|---|---|---|
| Cash Severance | 0.5x Base Salary | 1.0x (Base Salary + Target Bonus) | Tier 2 Executive (Oseland) | Release required; restrictive covenants compliance |
| Health Benefits | COBRA premiums up to 6 months | COBRA premiums up to 12 months | Tier-based durations | Ends upon COBRA ineligibility or new employer coverage |
| Time-based Equity | Tier 2: Lapse unless Committee decides otherwise | Full vesting up to 2x Time-Based Annual Equity Target; if short, Company issues additional fully-vested equity to reach 2x target | Tier-based acceleration | Committee may settle vested equity in cash |
| Performance-based Equity | Tier 2: Lapse unless Committee decides otherwise | Vesting at 100% of target up to 2x Performance-Based Annual Equity Target; if short, Company issues additional fully-vested equity to reach 2x target | Tier-based acceleration | Committee may settle vested equity in cash |
| Nature of Employment | At-will; no employment agreements | At-will | Company-wide NEO disclosure | Offer letters may set at-will terms |
Compensation Committee Analysis
- Committee: Judy K. Mencher (Chair), Joe Horowitz; both independent under Nasdaq/SEC rules .
- Consultant: Compensia, Inc. engaged as independent advisor for executive/director comp in 2024; no other material services provided, reducing consultant conflict risk .
- Meeting cadence: 5 meetings in 2024; oversight across plans, policies, and grants .
Compensation Structure Observations
- Shift toward RSUs and PSUs: Company currently does not grant options to executives; equity is primarily RSUs (retention) and PSUs (performance), lowering risk of underwater options repricing and increasing retention linkage .
- Discretionary bonus component persists: Annual cash bonus amounts are discretionary, permitting qualitative assessment but potentially diluting strict formulaic pay-for-performance .
- Performance stringency: FY2024 PSUs did not vest, indicating either elevated hurdles or insufficient performance versus targets; FY2025 PSU award outcomes will be informative for alignment .
Risk Indicators & Red Flags
- Hedging/pledging prohibited: Policy prohibits derivatives, shorting, and pledging of company stock, mitigating misalignment and forced-selling risk .
- Controlled company: Founder/CEO Andrew Pascal controls >50% of combined voting power; while the company states it does not utilize exemptions currently, governance dynamics should be monitored .
- Severance/CIC economics: Tier 2 protection with equity acceleration that can include issuance of additional fully-vested equity to meet 2x annual targets under CIC—could be shareholder-unfriendly if triggered without commensurate performance, though requires Qualifying Termination and release .
Investment Implications
- Retention and execution: Oseland’s large, long-dated RSU and multi-tranche PSU grants create material retention hooks through 2028; failure of FY2024 PSUs to vest increases the incentive to deliver FY2025+ performance to unlock PSU value .
- Event-risk asymmetry: CIC provisions for Tier 2 include 1.0x cash (base + target bonus), health benefits, and aggressive equity acceleration up to 2x annual equity targets with “top-up” issuance; any strategic transaction could translate to meaningful equity settlement and potential supply overhang depending on settlement method (stock vs cash) .
- Alignment: Beneficial ownership of 582,543 shares plus unvested awards indicates real equity exposure; pledging/hedging prohibitions strengthen alignment; however, discretionary bonus design and controlled-company status warrant continued oversight on pay-for-performance discipline .
- Near-term signal: FY2025 PSU tranche for Oseland (233,333 units, 0–100% payout) vests Feb 28, 2026—watch disclosure of performance metrics and interim progress; outcomes will provide a clear read-through on operational execution under his COO tenure .