Peter Holst
OBLGAbout Peter Holst
Peter Holst (age 56) is OBLG’s President and CEO, and has served as a director since January 2013; he previously served as Chairman of the Board from July 2019 to December 15, 2021 and from May 28, 2023 to December 18, 2024. He holds a degree in Business Administration from the University of Ottawa and has 28+ years of experience in the collaboration/communications industry, including prior roles as CEO of Affinity VideoNet and President/COO of Raindance Communications . Performance context: the company’s pay-versus-performance table shows cumulative shareholder returns deteriorated sharply in 2022–2024 (value of $100 investment: $2.29 → $0.26 → $0.63) alongside net losses of $21.8m (2022), $4.4m (2023), and $4.0m (2024) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Oblong, Inc. | SVP, Business Development | Oct 1, 2012 – Jan 13, 2013 | Preceded appointment as CEO and Board director |
| Affinity VideoNet, Inc. | Chief Executive Officer | Not disclosed | Industry leadership experience in collaboration |
| Raindance Communications | President & Chief Operating Officer | Not disclosed | Operating leadership in communications |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| None disclosed | — | — | No current external public board roles disclosed for Holst |
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | 295,000 | 295,000 |
| Target Bonus (% of Salary) | 100% (discretionary on goals) | 100% (discretionary on goals) |
| Actual Cash Bonus ($) | 394,000 | 197,000 |
| Stock Awards ($) | — | — |
| All Other Comp ($) | 10,000 (401(k) match) | 10,000 (401(k) match) |
Notes:
- Base salaries last increased effective July 1, 2021 (Holst to $295k) .
- Company 401(k): 50% match on first 6% of salary; vesting over 4 years .
Performance Compensation
| Incentive | Metric(s) | Weighting | Target | Actual Payout | Vesting/Timing |
|---|---|---|---|---|---|
| Annual Cash Bonus (2023) | Financial and non-financial goals (not specified) | Not disclosed | 100% of base salary | $394,000 | Cash (timing per company narrative) |
| Annual Cash Bonus (2024) | Financial and non-financial goals (not specified) | Not disclosed | 100% of base salary | $197,000 | Cash |
Additional context:
- Current named executives last received equity awards in 2019; no equity awards were outstanding at 12/31/2024 .
- Compensation Committee highlights retention, liquidity management, Nasdaq listing maintenance, and M&A evaluation as rationale for pay decisions in 2023–2024 .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | 504 common shares (0.02% of 3,207,210 outstanding as of 10/31/2025) |
| Vested vs Unvested RSUs | None outstanding as of 12/31/2024; no RSUs outstanding as of 10/31/2025 |
| Stock options (exercisable/unexercisable) | None outstanding as of 10/31/2025 |
| In-the-money value | Not applicable (no options outstanding) |
| Pledging | Not disclosed |
| Hedging policy | Company prohibits hedging/monetization, short sales, and derivative transactions without advance CFO approval |
| Ownership guidelines | Not disclosed |
Plan supply and potential dilution:
- As of Oct 31, 2025: no shares remain available under the 2019 Plan; no options or RSUs outstanding .
- 2025 proposal seeks to add 2,000,000 shares and adopt an Evergreen Provision of 5% of outstanding shares each Jan 1 from 2026–2029 (admin may reduce/waive) .
Employment Terms
| Term | Key Provision |
|---|---|
| Role/Start | Appointed President & CEO and director on Jan 13, 2013 |
| Base salary | $295,000 (effective 7/1/2021) |
| Target bonus | 100% of base salary; discretionary based on goals |
| Severance (outside CIC) | If terminated without cause/for good reason or non-renewal: 12 months base salary; 100% of target bonus; 100% acceleration of unvested restricted stock/RSUs; 12 months COBRA |
| Severance (within 18 months after CIC) | If terminated without cause/for good reason or non-renewal: 24 months base salary; 100% of target bonus; pro‑rated target bonus for partial year; 80% acceleration of unvested restricted stock/RSUs; 12 months COBRA |
| Non-compete/Non-solicit | Non-compete: 12 months post-termination; also non-solicit and confidentiality obligations |
| 280G treatment | “Best after-tax benefit” (no gross-up; reduce or pay full to maximize net) |
| Clawback/cancellation | Plan-level clawback conforming to Section 10D and cancellation/rescission for competitive or confidentiality breaches |
| Equity plan vesting minimum | No award vests/exercisable < 1 year unless otherwise provided in award |
| Change-in-control under plan | Company may accelerate vesting or take other actions at its discretion in corporate transactions |
Board Governance and Service
- Board/committees: Holst is a management director (not independent). Independent directors chair all standing committees: Audit (Jason Adelman, chair), Compensation (Jonathan Schechter, also independent Chairman of the Board), and Nominating (Deborah Meredith, chair) .
- Independence: Board determined all directors other than Holst are independent under Nasdaq rules .
- Board chair history: Holst previously served as Chairman (Jul 2019–Dec 15, 2021; May 28, 2023–Dec 18, 2024). Jonathan Schechter has served as Chairman since December 2024, with independent directors holding executive sessions without management .
- Meetings/attendance: Board met or acted by written consent eight times in 2024; each director attended ≥75% of Board and committee meetings during their service period .
- Director compensation: Holst’s compensation is reported as an executive; non-employee director retainers and fees exclude him .
Pay vs Performance Snapshot (Context)
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| CEO “Compensation Actually Paid” ($) | 451,000 | 699,000 | 502,000 |
| Value of $100 Investment (TSR) ($) | 2.29 | 0.26 | 0.63 |
| Net Income (Loss) ($) | (21,841,000) | (4,384,000) | (4,043,000) |
Say-on-Pay and frequency:
- Company follows a triennial say-on-pay cadence; the next say-on-pay is in 2028. In 2025, the Board recommends say-on-pay frequency of once every three years .
Investment Implications
- Alignment and ownership: Holst’s beneficial ownership is de minimis (0.02%), and there are no outstanding options/RSUs—weak “skin in the game” today. This lowers insider selling pressure near term but weakens alignment; prospective equity issuance under the proposed 2,000,000-share increase and 5% evergreen (2026–2029) could create future dilution and eventual vesting supply if awards resume .
- Pay-for-performance risk: Bonuses were paid in 2023–2024 while TSR and net income were negative, and performance metrics/weightings are not disclosed—raising concern that cash incentives may not be tightly linked to shareholder value creation despite the Compensation Committee’s retention and listing-rules rationale .
- Retention economics: Double-trigger CIC terms are sizable (2× base + 1× target + pro‑rata bonus + 80% acceleration + COBRA), with meaningful protection on non-CIC termination as well; this supports retention but introduces potential parachute cost if strategic alternatives occur .
- Governance mitigants: Independent Chair (since Dec 2024), fully independent Audit/Comp/Nominating committees, and a formal hedging prohibition are positives for oversight and risk control; Holst is not independent, but the dual-role concern is reduced with an independent Chair and executive sessions .
- Equity plan design: Minimum 1‑year vesting (unless otherwise in award) and plan-level clawback/cancellation provisions are favorable; however, the proposed evergreen through 2029 and depleted current share reserve point to likely new grants and dilution ahead if approved .
Notes and Sources
- All data from Oblong, Inc. DEF 14A filed Nov 4, 2025, including: executive biography, compensation tables, ownership, plan terms, governance and committee structure, and pay-versus-performance .