Ashley Johnson
About Ashley Johnson
Ashley Johnson is Planet Labs PBC’s President and Chief Financial Officer (CFO), age 53. She joined as CFO in February 2020, added Chief Operating Officer (COO) in March 2021, and assumed the President role in March 2024; her current title is President and CFO. She holds a BA in International Relations and an MA in International Policy Studies from Stanford University . Company performance metrics tied to executive pay include GAAP revenue and adjusted EBITDA; FY2025 results were GAAP revenue $244.352 million and adjusted EBITDA $(10.627) million, driving a 115% bonus/PSU payout for eligible NEOs . Company TSR used in pay-versus-performance disclosure measured $100 initial investment at 56.43 in FY2025, 20.91 in FY2024, 45.79 in FY2023, and 56.43 in FY2022 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Wealthfront Inc. | Chief Financial Officer | Jun 2015–Feb 2020 | Executive finance leadership |
| Wealthfront Inc. | Chief Operating Officer | Jun 2016–Feb 2020 | Operations leadership |
| ServiceSource International Inc. | Chief Financial Officer | Jan 2013–Oct 2014 | Executive finance leadership |
| ServiceSource International Inc. | Interim Chief Executive Officer | Oct 2014–Dec 2014 | Interim CEO leadership |
| ServiceSource International Inc. | Chief Customer Officer | Jan 2015–May 2015 | Customer operations |
External Roles
- No public company directorships disclosed for Ashley Johnson in the latest proxy .
Fixed Compensation
| Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Base Salary ($) | $370,000 | $405,000 | $405,000 |
| Target Bonus (% of Base) | — | 70% | 70% |
| Target Bonus ($) | — | — | $283,500 |
| Non-Equity Incentive Plan Compensation ($) | $194,250 | — | — |
| All Other Compensation ($) | $690 | $748 | $690 |
| Total Compensation ($) | $1,553,315 | $3,315,938 | $3,396,674 |
Performance Compensation
| Metric | Weighting | Mid-Year Target | Mid-Year Actual | Full-Year Target Range | Full-Year Actual | FY2025 Payout |
|---|---|---|---|---|---|---|
| GAAP Revenue | 60% | $122.7M | $121.532M | $245.0M–$254.0M | $244.352M | 115% (overall bonus/PSU payout) |
| Adjusted EBITDA | 40% | $(16.6)M | $(12.763)M | $(22.0)M–$(17.0)M | $(10.627)M | 115% (overall bonus/PSU payout) |
| FY2025 Equity Incentives (Ashley Johnson) | Grant Date | Type | Target | Maximum | Actual Earned/ Vested | Vesting Terms |
|---|---|---|---|---|---|---|
| Annual Bonus PSU Election | 3/27/2024 | PSUs | 126,000 shares | 157,500 shares | 144,900 shares vested (115% of target) | 40% after H1 and 60% after FY-end, based on GAAP Revenue and adjusted EBITDA; 0%–125% payout range |
| Long-Term RSUs | 3/19/2024 | RSUs | 1,131,222 shares | — | Time-vest; grant-date fair value $2,669,684 | Vests in equal quarterly tranches over 4 years, subject to service |
Equity Ownership & Alignment
| Ownership Detail | Amount/Status |
|---|---|
| Direct Class A shares held | 526,956 shares |
| Options exercisable within 60 days | 1,959,478 shares |
| RSUs vesting within 60 days | 155,699 shares |
| Total beneficial ownership | 2,642,133 Class A shares; less than 1% of Class A outstanding |
| Stock ownership guidelines | 3x annual base salary for named executive officers; 5 years to comply; options and PSUs excluded from counting |
| Hedging/pledging | Prohibited by Insider Trading Compliance Policy (no hedging, short sales, margin purchases, or pledging) |
| Clawback policy | Recovery of erroneously awarded incentive compensation adopted Oct 2, 2023 (NYSE/Exchange Act Section 10D compliant) |
Employment Terms
| Scenario (Assumed as of Jan 31, 2025) | Cash Severance ($) | Equity Acceleration ($) | Continued Healthcare ($) | Total ($) |
|---|---|---|---|---|
| Termination without cause or for good reason (no CIC) | $303,750 | — | $15,218 | $318,968 |
| Termination without cause or for good reason in connection with a CIC | $405,000 | $10,369,988 (RSUs/PSUs; options acceleration valued at $0 due to exercise prices >$6.10) | $20,290 | $10,795,278 |
- Severance plan adopted December 2023; provides severance upon qualifying terminations, including in connection with a change in control; stock options acceleration value calculated at $0 because option exercise prices exceeded $6.10 per share on Jan 31, 2025 .
- Prior to severance plan, certain FY2021 awards had 50% vesting acceleration upon qualifying termination within 12 months post-change in control (double-trigger) per her offer letter/award agreements .
Outstanding Options (Ashley Johnson) as of Jan 31, 2025
| Grant Date | Vesting Commencement Date | Exercisable (#) | Unexercisable (#) | Exercise Price ($) | Expiration |
|---|---|---|---|---|---|
| 4/21/2020 | 2/6/2020 | 1,187,175 | — | 4.04 | 4/21/2030 |
| 6/30/2021 | 6/1/2021 | 480,295 | 55,848 | 9.75 | 6/30/2031 |
| 6/30/2021 | 6/1/2022 | 197,866 | 108,501 | 9.75 | 6/30/2031 |
Outstanding RSUs/PSUs (Ashley Johnson) as of Jan 31, 2025
| Grant Date | Type | Unvested Units (#) | Market Value ($) |
|---|---|---|---|
| 12/7/2021 | RSUs | 245,255 | $1,496,056 |
| 6/17/2022 | RSUs | 72,675 | $443,318 |
| 3/16/2023 | RSUs | 368,450 | $2,247,545 |
| 3/19/2024 | RSUs | 919,118 | $5,606,620 |
| 3/27/2024 | PSUs | 94,500 | $576,450 |
- RSUs vest quarterly over four years, subject to continued service; PSUs vest based on GAAP revenue and adjusted EBITDA with 0%–125% payout scale .
Option Exercises & Stock Vested in FY2025
| Name | Shares Acquired on Vesting (#) | Value Realized ($) |
|---|---|---|
| Ashley Johnson | 515,380 | $1,307,547 |
Compensation Structure Analysis
- Equity-heavy compensation and PSU bonus election indicate pay-for-performance alignment; Ashley’s FY2025 PSU payout was 115% of target based on exceeding revenue and adjusted EBITDA goals .
- Base salary held flat at $405,000 across FY2024–FY2025; bonus target remained 70% of base, with equity election reinforcing performance linkage .
- Governance: strong guardrails—clawback policy (Oct 2, 2023), prohibition on hedging/pledging, no tax gross-ups, no significant perquisites, independent comp committee and consultant (FW Cook) .
Say-on-Pay & Shareholder Feedback
- 2024 say-on-pay approval ~97% of votes cast (excluding broker non-votes), supporting the current program design .
Additional Signals
- FY2025 comp highlights: RSU grants to NEOs (Ashley: 1,131,222 shares; vests quarterly over 4 years) and PSU bonus election (target 126,000 shares; 115% payout) .
- Company emphasized adjusted EBITDA progress (weight raised from 20% to 40%) and achieved adjusted EBITDA profitability in Q4 FY2025 per compensation discussion context .
Investment Implications
- Alignment: Ashley’s election to receive PSUs for the annual bonus and significant unvested RSUs create strong equity alignment and retention incentives; ownership guidelines (3x salary) and anti-pledging policies reduce misalignment risk .
- Performance linkage: 115% PSU payout tied to GAAP revenue and adjusted EBITDA suggests comp outcomes reflect operational progress, though company adj. EBITDA remained negative for FY2025 overall .
- Retention and change-in-control economics: Material equity acceleration and severance under double-trigger scenarios imply meaningful retention during potential strategic events; cash severance of $405,000 with CIC and equity acceleration $10.37 million as of Jan 31, 2025 indicate strong protections .
- Trading signals: Quarterly RSU vesting and PSU settlement cadence may create periodic supply; no hedging/pledging allowed reduces forced-selling risk; beneficial ownership less than 1% indicates limited direct ownership vs large outstanding option/RSU exposure .