Patrick Finn
Pure StorageAbout Patrick Finn
Patrick S. Finn, age 61, was appointed Chief Revenue Officer (CRO) of Pure Storage (PSTG) on November 4, 2025, leading global sales and channels; he holds a B.B.A. in Management Information Systems from Pace University and an M.S. in Telecommunication & Computer Management from NYU . Prior roles span senior sales leadership at Cloudflare, Iron Mountain, SS&C Blue Prism, Teradata, and Cisco, alongside founding Finn Advisors (2016–present), establishing deep enterprise go‑to‑market expertise . Company context entering his tenure: FY25 revenue reached $3.168B (vs. $3.128B target), non‑GAAP operating profit was $559M (vs. $532M target), and audited NPS was 81, reflecting strong execution and customer satisfaction .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Finn Advisors | Principal & Founder | 2016–present | Advises companies on go‑to‑market strategy; founder leadership |
| Cloudflare | VP, Americas | Jun 2024–Jul 2025 | Led Americas enterprise sales; scaling performance and customer loyalty emphasis |
| Iron Mountain | SVP, Global Industries | Jun 2023–Jun 2024 | Led industry vertical strategy and sales |
| SS&C Blue Prism | President & GM | Dec 2020–Nov 2022 | Ran business process automation software unit; general management and growth |
| Teradata | EVP, Americas | 2019–2020 | Led regional sales for data warehousing/analytics |
| Cisco | Senior VP, US Public Sector; other sales leadership | 1996–2016 | Built and led large‑scale public sector sales; extensive enterprise GTM |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Finn Advisors | Principal & Founder | 2016–present | Consulting/advisory for GTM strategy |
Fixed Compensation
| Item | Amount/Terms | Source |
|---|---|---|
| Base Salary | $650,000 initial annual base salary | |
| Target Annual Bonus | 100% of base salary; metrics set by Compensation & Talent Committee | |
| Signing Bonus | $1,000,000 one‑time; repayable (net of taxes) if employment terminates for any reason other than layoff within first 12 months |
Performance Compensation
Annual incentive program context (company-wide)
- FY25 corporate bonus funding used revenue (60%), non‑GAAP operating profit (25%), and NPS (15%); targets were revenue $3.128B, non‑GAAP op profit $532M, NPS range 80–82; actuals were $3.168B, $559M, and 81 . Finn’s CRO bonus metrics will be set by the committee per his agreement; specific CRO weighting/targets were not disclosed .
Equity awards granted on appointment
| Award Type | Shares/Target | Performance Metric | Vesting | Post‑Vest Condition | Source |
|---|---|---|---|---|---|
| Time‑based RSU | 92,896 | None | 25% vests Dec 20, 2026; remaining 75% vests in equal quarterly installments over the next 12 quarters | None beyond standard service | |
| Market‑cap PSU/RSU (target) | 108,840 | Pure market capitalization ≥ $40B over ~5‑year period | If earned, vests Mar 20, 2030 | One‑year post‑vest holding (to Mar 20, 2031) |
Equity Ownership & Alignment
| Category | Detail | Source |
|---|---|---|
| Beneficial ownership (direct shares) | Not disclosed at appointment; Form 3/4 filings not referenced in available documents | |
| Unvested RSUs | 92,896 | |
| Performance‑based award (target) | 108,840 shares contingent on $40B market cap performance | |
| Vested vs. unvested | As of appointment, zero vested; first RSU cliff on Dec 20, 2026; performance award vests Mar 20, 2030 if earned | |
| Ownership as % shares outstanding (pro forma if all target shares earned) | ~0.06% = (92,896 + 108,840) / 327,142,977 | |
| Stock ownership guidelines | Executives must hold shares equal to 2x base salary within 5 years; credit for shares held outright, beneficially owned, and vested RSUs (not options) | |
| Hedging/pledging | Prohibited: no derivatives, short sales, options, hedging, margin, or pledging |
Employment Terms
| Provision | Economics/Terms | Trigger | Source |
|---|---|---|---|
| Severance (outside Change in Control) | Lump sum cash equal to 6 months base salary; up to 6 months company‑paid health coverage | Termination without cause or resignation for good reason outside CIC period | |
| Severance (Change in Control) | Lump sum cash equal to 12 months base salary + 12 months target bonus; up to 12 months health coverage; 100% acceleration of time‑based awards; performance‑based awards generally accelerated at target (post‑2020 grants governed by award agreements) | Double trigger: qualifying termination within 3 months before to 12 months after CIC | |
| Clawback | Dodd‑Frank compliant recoupment of excess incentive compensation upon financial restatement; applies regardless of misconduct | Restatement; Section 16 officers | |
| Trading/10b5‑1 | Pre‑clearance required; trading windows enforced; Rule 10b5‑1 plans encouraged for sales | Insider trading policy | |
| Tax gross‑ups | No tax gross‑ups for change‑of‑control payments/benefits | Policy | |
| Indemnification | Standard form indemnity agreement executed | Officer appointment | |
| Non‑compete / non‑solicit | Not disclosed in available filings | — | — |
Performance Compensation (detail)
| Metric | Weighting | Target | Actual | Payout Basis | Vesting |
|---|---|---|---|---|---|
| CRO cash bonus metrics | Not disclosed | Set by Committee | Not disclosed | Committee determination | N/A |
| Company FY25 bonus metrics (context) | Revenue 60%; Non‑GAAP Op Profit 25%; NPS 15% | $3.128B; $532M; NPS 80–82 | $3.168B; $559M; NPS 81 | Corporate funding at 111% (committee applied 96% for executives overall) | Paid Mar/Apr 2025 |
Risk Indicators & Red Flags
- Hedging/pledging prohibited, reducing misalignment risk from collateralized positions .
- No related‑party transactions or familial relationships disclosed for Finn at appointment .
- Long‑dated vesting (first RSU cliff Dec 20, 2026; performance award vest Mar 20, 2030) implies limited near‑term sell pressure; trading still subject to blackout windows and 10b5‑1 plan requirements .
Say‑on‑Pay & Shareholder Feedback (context)
- The June 2024 Say‑on‑Pay vote failed (~40% approval), prompting the committee to scale back equity and reaffirm pay‑for‑performance design; FY25 PSUs paid at 73% due to missing Storage‑as‑a‑Service TCV target despite revenue/NPS/operating profit beats .
Investment Implications
- Strong alignment: $40B market‑cap performance award, plus substantial RSU package with long‑dated vesting, ties Finn’s upside to sustained growth and valuation, reducing short‑term selling incentives and aligning with shareholders over multi‑year horizons .
- Near‑term cadence: 25% RSU cliff on Dec 20, 2026 and quarterly vesting thereafter create scheduled potential liquidity events; insider trading controls/10b5‑1 plans govern execution, moderating discretionary selling pressure .
- Downside protection and retention: Double‑trigger CoC severance (12 months base + 12 months target bonus + full time‑based acceleration) provides continuity but limits single‑trigger payouts; outside CoC severance is modest (6 months), preserving retention without over‑insuring .
- Execution focus: Company missed FY25 Storage‑as‑a‑Service TCV target (equity paid at 73%), highlighting subscription sales transformation; Finn’s CRO remit and incentive structure directly target growth/market‑cap expansion in AI/hyperscaler opportunities spotlighted by management .