James Blackie
About James Blackie
James Blackie, age 60, is Chief Revenue Officer (CRO) at ON24, serving in this role since December 2016; he holds a BS in Marketing from Santa Clara University and previously led enterprise sales teams at TriNet, Evolv, Legal Research Network, and Gartner . As CRO, his annual incentive is structured as a commission program tied to a weighted mix of bookings measures; his variable pay opportunity is targeted at 90% of base salary, distinct from CEO/CFO incentives tied to net ARR growth and non-GAAP EBITDA . The company also grants him time-based RSUs and performance stock units (PSUs) subject to total shareholder return (TSR) versus a benchmark, paying 0–200% of target by annual tranches, aligning equity outcomes with shareholder returns .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| TriNet Group, Inc. | Vice President, Sales | Nov 2013–Nov 2016 | Led sales for PEO solutions at a public company . |
| Evolv, Inc. | Executive Vice President | Jul 2012–Oct 2013 | Drove go-to-market for SaaS workforce intelligence products . |
| Legal Research Network, Inc. | Executive Vice President | Jan 2003–Jul 2012 | Led ethics/legal compliance SaaS commercial efforts . |
| Gartner, Inc. | Group VP, North American Sales | Jan 2000–Dec 2002 | Scaled enterprise sales at global research/advisory firm . |
Fixed Compensation
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Base Salary ($) | 475,000 | 475,000 | 475,000 |
| All Other Compensation ($) | 327,333 (incl. $316,671 commissions) | 377,278 (incl. $328,463 commissions) | — |
Notes:
- Employment letter: at-will; eligible for standard health and welfare benefits .
- “All Other Compensation” footnotes specify commissions amounts; residual relates to sales award program costs .
Performance Compensation
Annual Incentive – Commission Program
| Metric | Target | Actual 2023 | Actual 2024 | Payout Mechanism | Vesting |
|---|---|---|---|---|---|
| Bookings measures (weighted mix) | 90% of base salary | $316,671 (commission) | $328,463 (commission) | Cash commissions | N/A |
CEO/CFO annual incentives are based on net ARR growth and non-GAAP EBITDA, whereas CRO participates in the commission program based on bookings measures .
Long-Term Equity Awards (Unvested at 12/31/2024)
| Award Type | Shares Unvested (#) | Market Value ($) | Vesting Schedule / Performance Conditions |
|---|---|---|---|
| PSUs (2024–2026 tranche) | 60,000 | 387,600 | Vests in three annual tranches for 2024, 2025, 2026; payout 0–200% of target based on TSR vs benchmark (max 125% for first two years; 200% overall cap); service required through each period . |
| RSUs (granted 2024) | 135,000 | 872,100 | 12 equal quarterly installments beginning June 1, 2024; service required . |
| PSUs (2023–2025 tranche) | 29,353 | 189,620 | Vests in three annual tranches for 2023, 2024, 2025; payout 0–200% of target based on TSR vs benchmark (max 125% for first two years; 200% overall cap); service required . |
| RSUs (granted 2023) | 73,383 | 474,054 | 12 equal quarterly installments beginning June 1, 2023; service required . |
| RSUs (granted 2022) | 34,845 | 225,099 | 16 equal quarterly installments beginning Feb 20, 2022; service required . |
Grant-date fair value of stock awards: $1,812,227 (2023) and $1,681,000 (2024) under ASC 718 .
Stock Options (as of 12/31/2024)
| Exercisable (#) | Unexercisable (#) | Exercise Price ($) | Expiration | Vesting Note |
|---|---|---|---|---|
| 138,062 | 2,938 | 13.33 | 12/11/2030 | 48 equal monthly installments starting Jan 1, 2021 . |
| 89,271 | — | 2.00 | 1/16/2030 | Fully vested . |
| 22,916 | — | 1.23 | 1/16/2030 | Fully vested . |
| 222,588 | — | 1.79 | 12/9/2026 | Fully vested . |
| 51,696 | — | 0.99 | 12/9/2026 | Fully vested . |
Option grants made at FMV on grant date; certain awards were adjusted for June 2023 special dividend .
Equity Ownership & Alignment
| Metric | As of Feb 29, 2024 | As of Feb 28, 2025 |
|---|---|---|
| Shares Beneficially Owned (#) | 679,639 | 728,541 |
| Ownership (%) | 1.6% (out of 41,322,446 shares) | 1.7% (out of 41,925,451 shares) |
| Direct Share Ownership (#) | — | 171,393 |
| Options Exercisable within 60 Days (#) | — | 527,471 |
| RSUs Vesting within 60 Days (#) | — | 29,677 |
- Insider trading policy prohibits short sales, pledging, hedging, and monetization transactions, mitigating misalignment and leverage risks .
- Section 16(a) compliance: all executive officers and directors complied with reporting requirements for 2024, indicating disciplined disclosure practices .
Employment Terms
| Provision | Standard Termination (without cause) | Change-in-Control (12-month window; termination without cause or resign for good reason) |
|---|---|---|
| Cash Severance | 6 months base salary | 12 months base salary |
| Equity | — | 100% acceleration of unvested equity awards |
| COBRA | Up to 6 months reimbursement | Up to 12 months reimbursement |
| Other | Earned but unpaid wages/bonus due, expense reimbursement, payment of vested benefits | Same, plus equity acceleration |
| Employment Status | At-will employment; base salary $475,000; commission-based target bonus determined by compensation committee; standard benefits eligibility |
Compensation Structure Analysis
- Increased reliance on PSUs with TSR-based payouts (0–200%) creates explicit linkage to shareholder returns; RSUs provide retention via quarterly vesting cadence .
- Commission-based annual incentive tied to bookings aligns CRO cash pay to top-line commercial performance rather than corporate EBITDA or net ARR (used for CEO/CFO), focusing on sales execution .
- Equity plan allows option “re-pricing” (cancellation/exchange of underwater options for new equity or cash) without further shareholder approval—often viewed as a governance red flag if used imprudently .
Risk Indicators & Red Flags
- Hedging/pledging prohibited by insider trading policy, reducing misalignment risk .
- Equity plan authorization for option cancellation/exchange (repricing) without stockholder approval could be shareholder-unfriendly if exercised; monitor for usage in future disclosures .
- Consistent quarterly RSU vesting across multiple grants may create predictable insider selling windows; monitor Section 16 filings around vest dates .
Equity Ownership & Vesting Schedules (Potential Selling Pressure)
- RSUs: multiple grants vesting quarterly beginning Feb 20, 2022; Jun 1, 2023; and Jun 1, 2024, supporting retention but potentially increasing periodic liquidity events .
- PSUs: annual tranches with TSR benchmarking through 2025 and 2026; payout and share delivery depend on performance outcomes, introducing variability into future share issuance/selling pressure .
Expertise & Qualifications
- Deep enterprise sales leadership across PEO, SaaS workforce intelligence, legal compliance SaaS, and enterprise advisory sectors; ON24 CRO since Dec 2016, BS in Marketing (Santa Clara University) .
Investment Implications
- Alignment: Commission-driven annual incentive tied to bookings plus TSR-based PSUs align cash and equity outcomes to commercial execution and shareholder returns, while quarterly RSU vesting aids retention .
- Watch selling pressure: Ongoing quarterly RSU vesting across 2022/2023/2024 grants suggests regular potential insider liquidity; monitor Form 4 filings around vest dates and trading windows .
- Governance: The insider trading policy prohibits pledging/hedging, reducing alignment risks, but the plan’s allowance for option repricing without shareholder approval merits vigilance for any future exchanges .
- Change-of-control economics: Double-trigger severance with full equity acceleration could create incentives supportive of strategic transactions; factor into event-driven scenarios .
- Ownership: 1.7% beneficial ownership with a significant component in options exercisable within 60 days indicates meaningful upside alignment and exposure to share price performance .