William Koefoed
About William Koefoed
William Koefoed, age 60, has served as OneStream’s Chief Financial Officer since November 2019, following senior finance leadership roles at Blue Nile (CFO, joined 2018), BCG Digital Ventures (CFO & partner), Puppet (CFO), and multiple roles at Microsoft starting in 2005 including CFO of Skype and GM of Investor Relations and IT Finance. He is a California CPA (inactive), holds a B.S. and MBA from UC Berkeley, and currently serves on the board of Bank OZK and the Boys & Girls Club of Southeastern Michigan . Compensation metrics emphasize company growth and profitability—Net New ARR (67% weighting) and non-GAAP Operating Income (33%)—with 2024 aggregate payouts of 100% for H1 and 80% for FY, aligning incentives to recurring revenue expansion and operating discipline . He certified the company’s FY2024 10-K under Sarbanes-Oxley Section 302, reflecting executive accountability for financial reporting controls .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Blue Nile, Inc. | Chief Financial Officer | 2018–prior to OneStream | Public e-commerce CFO experience; scaled finance and controls |
| BCG Digital Ventures | CFO & Partner | Not disclosed | Venture building and portfolio finance leadership |
| Puppet, Inc. | Chief Financial Officer | Not disclosed | Enterprise software finance; operating scaling |
| Microsoft | CFO, Skype; GM Investor Relations; GM IT Finance | Began 2005 (end not disclosed) | Large-cap tech finance, IR leadership, operating finance |
| Hewlett-Packard; PwC; Arthur Andersen | Various finance roles | Not disclosed | Foundational finance, audit, and operating experience |
External Roles
| Organization | Role | Years |
|---|---|---|
| Bank OZK (NASDAQ: OZK) | Director | Not disclosed |
| Boys & Girls Club of Southeastern Michigan | Board role | Not disclosed |
Fixed Compensation
| Metric | 2023 | 2024 | Current (as of June 2024 letter) |
|---|---|---|---|
| Base Salary ($) | $422,917 | $425,000 | $460,000 (at-will, confirmatory employment letter) |
| Target Bonus (% of Salary) | Not disclosed | 70% (Executive 2024 Bonus Plan) | 75% (confirmatory employment letter) |
| Actual Non-Equity Incentive ($) | $243,653 | $238,000 | Not disclosed |
Performance Compensation
| Component | Metric | Weighting | Target/Threshold/Max | Actual Payout | Vesting/Timing |
|---|---|---|---|---|---|
| Annual Bonus (2024 H1) | Aggregate of Net New ARR & non-GAAP Operating Income | 67% / 33% | Net New ARR: Threshold 80% of target; Max 150%. Op Income: payout 100% if achieved | 100% aggregate for H1; paid Sept 2024 | 40% of annual target allocated to H1; paid in September |
| Annual Bonus (2024 FY) | Aggregate of Net New ARR & non-GAAP Operating Income | 67% / 33% | Same as above | 80% aggregate for FY; paid Mar 2025 | 60% of annual target allocated to H2; paid in March |
| Option Awards (2024) | Stock Options (mix of pre-IPO plan and IPO grant) | N/A | Exercise prices: $10.65, $14.51, $20.00; grant-date FV $9,403,715 | N/A | 2022/2023 options: 1/4 vest then 1/48 monthly; 3/11/2024 options: 1/4 on 2/15/2025 then 1/48 monthly; 7/23/2024 IPO options: 1/16 on 10/23/2024, then every 3 months |
Equity Ownership & Alignment
| Category | Detail | Status/Amount |
|---|---|---|
| Beneficial Ownership | Class C common shares | 1,446,049 (2.3% of Class C) |
| Options (near-term) | Exercisable within 60 days of 3/27/2025 | 654,278 Class A options |
| Outstanding Options | 6/30/2022 grant ($10.65) | 185,132 exercisable; 80,349 unexercisable |
| Outstanding Options | 3/6/2023 grant ($10.65) | 186,816 exercisable; 248,869 unexercisable |
| Outstanding Options | 3/11/2024 grant ($14.51) | 443,604 unexercisable (1/4 vested 2/15/2025; then monthly) |
| Outstanding Options | 7/23/2024 IPO grant ($20.00) | 29,049 exercisable; 435,743 unexercisable; vests 1/16 quarterly since 10/23/2024 (≈29,049 per quarter) |
| Pre-IPO Incentive Units | Reclassified into LLC Units & Class C shares | All named executive LLUs/Class C fully vested as of 2/9/2025 |
| Hedging/Pledging | Policy status | Hedging and pledging prohibited for employees and directors |
Employment Terms
- Employment: At-will; confirmatory employment letter (June 2024) with base salary $460,000 and target bonus 75% of salary .
- Severance Policy:
- Double-trigger (within 3 months prior to or 12 months post change-in-control): 12 months base salary; 50% of target bonus; up to 12 months COBRA; 100% acceleration of time-based equity awards; performance awards per award terms .
- Non-CIC separation (without cause or for good reason): 6 months base salary; up to 6 months COBRA .
- Excise Tax (280G/4999): Best-net cut—benefits reduced if necessary to maximize after-tax outcome .
- Clawback: Non-discretionary recovery of excess incentive compensation upon accounting restatement for current/former executive officers (three-year lookback), per SEC/Nasdaq rules .
- Insider Trading: Prohibitions on short sales, derivatives, hedging, pledging, and margin accounts .
Compensation Structure Notes
- 2024 pay mix leaned heavily to equity/options ($9.40M grant-date FV) with modest cash bonus ($238k), signaling retention and market-aligned upside while tying cash incentives to ARR growth and operating profitability .
- 2024 plan target bonus set at 70% of salary (plan), while employment letter sets 75% target bonus (current policy), indicating a step-up in variable opportunity post-IPO governance standardization .
- Option vesting cadence creates predictable supply overhang of ~29,049 shares per quarter from the 2024 IPO grant, plus monthly vests from other grants—potentially relevant for insider-selling windows and liquidity planning .
Governance and Disclosure Notes
- SOX 302 certification: Signed FY2024 10-K certification by CFO (internal controls & disclosure controls) .
- Section 16 compliance: One corrected Form 3 for Koefoed (amended July 26, 2024) noted; otherwise compliant for FY2024 .
Investment Implications
- Pay-for-performance alignment: Bonus metrics emphasize Net New ARR (67%) and non-GAAP operating income (33%) with measured payouts (100% H1; 80% FY), reinforcing focus on sustainable ARR growth and profitability rather than solely stock price/TSR, which can reduce volatility in incentive outcomes .
- Retention risk: Significant unvested option overhang across 2022–2024 grants with multi-year monthly/quarterly schedules supports retention; double-trigger CIC acceleration is standard but increases potential cost in a change-of-control .
- Ownership alignment: Material Class C ownership and ongoing options, combined with prohibitions on hedging/pledging, indicate high alignment and reduced governance red-flag risk from collateralization .
- Trading signals: Scheduled quarterly/monthly vesting (e.g., ~29,049 shares per quarter for IPO options) could inform timing of insider sales and float changes; monitor Form 4s around open trading windows to assess selling pressure and sentiment .
- Execution track record: Tenure spans pre-IPO to post-IPO phases with SOX certifications; continued emphasis on ARR and Op Income in bonuses suggests disciplined operating execution under CFO oversight .