Jonathan Harris
About Jonathan Harris
Jonathan Harris, age 60, serves as President of Owlet and has been an executive officer since July 25, 2023; he holds a B.A. in Marketing from Southern Methodist University . The Board disclosed that Harris will succeed Kurt Workman as Chief Executive Officer effective October 1, 2025, while continuing as President until that date . Owlet reinstated its performance-based bonus program for 2024, using a pre-established EBITDA target; the Company achieved the goal and paid bonuses at 100% of target in 2025, indicating EBITDA execution against plan .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Molekule Group, Inc. (formerly AeroClean Technologies, Inc.) | Chief Commercial Officer (prior to departure) | 2021–Jan 2023 | Led commercial activities for air purification technology portfolio . |
| AeroClean Technologies, Inc. | Chief Marketing & Product Development Officer | Oct 2022–Jan 2023 | Led marketing and product development functions . |
| Molekule, Inc. | Chief Executive Officer | May 2021–Oct 2022 | Executive leadership through merger to form Molekule Group . |
| KAMU Labs, Inc. | Chief Executive Officer & Co‑Founder | Jun 2019–Aug 2022 | Founded and led wellness company (subsequently filed Chapter 7 in Dec 2023) . |
| reMarkable | Strategic Advisor | Feb 2019–Aug 2022 | Advised tablet company on commercialization . |
| Aura Frames | President | Sep 2017–Jan 2019 | Led consumer electronics brand operations . |
| GoPro, Inc. | SVP Intergalactic Sales & Field Marketing | Jun 2010–Apr 2017 | Senior sales and field marketing leadership at a technology company . |
External Roles
No current public-company board roles or committee positions were disclosed in the proxy materials reviewed for Harris .
Fixed Compensation
| Year | Base Salary ($) | Target Bonus (%) | Actual Bonus Paid ($) | Perquisites |
|---|---|---|---|---|
| 2024 | 375,000 | Not disclosed | 187,500 (paid in 2025) | None for Harris |
| 2023 | 150,000 (start date July 25, 2023) | First‑year target bonus eligibility; % not disclosed | — (Company discontinued performance bonus program for 2023) | $250 work‑from‑home stipend |
Performance Compensation
| Year | Incentive Type | Metric | Weighting | Target | Actual | Payout | Vesting/Payout Timing |
|---|---|---|---|---|---|---|---|
| 2024 | Annual cash bonus | Company EBITDA | Not disclosed | Not disclosed | Goal achieved | 100% of target | Paid in 2025 |
Clawback Policy: Owlet adopted a clawback policy effective October 2, 2023 pursuant to NYSE/Dodd‑Frank rules; any erroneously awarded incentive compensation must be forfeited in the event of a qualifying financial restatement .
Equity Ownership & Alignment
Beneficial Ownership (as of August 15, 2025)
| Holder | Common Shares Beneficially Owned | % of Common Shares Outstanding | Combined Voting Power | Shares Outstanding (Common) |
|---|---|---|---|---|
| Jonathan Harris | 89,744 | <1% (*) | * | 17,052,820 |
(*) Less than one percent, as disclosed in the proxy .
- Anti‑hedging: Directors, officers, and employees are prohibited from engaging in hedging transactions (e.g., collars, swaps, exchange funds) involving Owlet securities .
- Pledging: No explicit pledging restrictions or pledged‑share disclosures were identified in the governance and ownership sections reviewed .
Outstanding Equity Awards (as of December 31, 2024)
| Award Type | Grant Date | Quantity (#) | Vesting Terms | Market Value at 12/31/24 ($) |
|---|---|---|---|---|
| RSUs | Sep 25, 2024 | 88,692 | 100% vests Apr 8, 2026, subject to continued service | 394,679 (at $4.45/sh) |
| RSAs (from 2024 voluntary exchange) | Aug 15, 2024 | 50,343 | Fully vested Jan 3, 2025 | 224,026 |
| RSUs | Jan 15, 2024 | 74,488 | 25% on 1st anniversary; equal quarterly over subsequent two years | 331,742 |
| RSUs | Jul 25, 2023 | 80,092 | 25% on 1st anniversary; equal quarterly through 3rd anniversary | 356,409 |
2024 Voluntary RSU Exchange: Harris exchanged 45,766 RSUs (granted July 2023; initially vesting Aug 2024) for 50,343 RSAs that vested January 2025. The program extended and staggered vesting to encourage retention and mitigate near‑term sell‑to‑cover trading pressure; incremental fair value was recorded in 2024 stock awards .
Equity Compensation Plan Exposure (Amended Plan, through Aug 15, 2025)
| Name | RSAs and RSUs (#) |
|---|---|
| Jonathan Harris | 183,144 |
Employment Terms
| Provision | Terms |
|---|---|
| Employment Start Date | July 25, 2023 (President & Chief Revenue Officer; currently President) |
| CEO Succession | Harris to become CEO effective October 1, 2025 |
| Executive Change‑in‑Control Severance Plan (Aug 2023) | Double‑trigger: Involuntary termination by Owlet without cause or resignation for good reason within 3 months prior to or 12 months post change‑in‑control . |
| CIC Cash Severance | 12 months base salary plus target bonus for the year of termination, prorated . |
| Healthcare Continuation | 12 months of continued health coverage (or until eligible under another employer plan) . |
| Equity Acceleration | Accelerated vesting of all outstanding unvested equity upon a Covered Termination . |
| Clawback Policy | Executive incentive compensation subject to recovery for qualifying restatements . |
| Insider Trading Policy | Anti‑hedging transactions prohibited . |
| Non‑compete / Non‑solicit | Not disclosed in proxy sections reviewed . |
Investment Implications
- Pay‑for‑performance link: 2024 annual bonus was strictly formulaic and tied to a pre‑set EBITDA target, paid at 100% upon goal achievement; this supports alignment with profitability execution and reduces discretion risk .
- Near‑term selling pressure: The 2024 RSU‑to‑RSA exchange explicitly aimed to reduce concentrated sell‑to‑cover pressure; 50,343 RSAs vested Jan 3, 2025, while quarterly RSU vesting from the Jan 2024 grant begins in 2025 and continues for two years, and a 100% cliff RSU vests in April 2026—timelines that may influence trading volumes around settlement dates .
- Ownership alignment: Harris’s direct beneficial ownership is sub‑1%; alignment is primarily via unvested equity with multi‑year vesting schedules, suggesting retention incentives but lower immediate “skin‑in‑the‑game” relative to larger holders .
- Retention and change‑in‑control risk: Double‑trigger CIC terms with 12 months cash, healthcare continuation, and full equity acceleration balance retention incentives with potential expense in a sale scenario; investors should model equity acceleration contingencies .
- Governance and risk controls: Anti‑hedging and NYSE‑compliant clawback policies mitigate misalignment and restatement risk; note one late Form 4 for Harris in 2024 per Section 16(a) disclosure (minor process red flag) .
- Leadership transition: Elevated leadership responsibility as incoming CEO by October 2025 could drive changes in pay mix and performance metrics; monitor 2025–2026 compensation design for increased long‑term performance equity and updated KPIs .