Gregory Wong
QUINSTREETAbout Gregory Wong
Gregory Wong, age 52, is Chief Financial Officer of QuinStreet; he has served as CFO since September 2013 after prior roles as VP Finance (June 2012–September 2013), Senior Director of Finance & Accounting (May 2011–June 2012), and Director of FP&A (February 2008–May 2011). He previously served as Director of Finance at Lexar Media, a Micron Technology subsidiary, from August 2006 to February 2008, and holds a B.S. in Economics from California Polytechnic State University, San Luis Obispo . Company performance metrics central to executive pay include Adjusted EBITDA and media margin dollars; FY2025 Adjusted EBITDA was ~$81.3M, with FY2025 net income of ~$4.7M, and a $100 TSR stake in FY2020 grew to $154 by FY2025; the FY2025 PSU program paid at 100% based on the Adjusted EBITDA result .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| QuinStreet | Chief Financial Officer | Sep 2013–present | Leads finance through pay-for-performance constructs tied to Adjusted EBITDA and media margin dollars . |
| QuinStreet | Vice President of Finance | Jun 2012–Sep 2013 | Finance leadership ahead of CFO appointment . |
| QuinStreet | Senior Director, Finance & Accounting | May 2011–Jun 2012 | Finance and accounting oversight . |
| QuinStreet | Director, Financial Planning & Analysis | Feb 2008–May 2011 | FP&A leadership . |
| Lexar Media (Micron Technology subsidiary) | Director of Finance | Aug 2006–Feb 2008 | Financial leadership in flash memory manufacturing . |
External Roles
No public company board roles or external directorships disclosed for Gregory Wong .
Fixed Compensation
| Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Salary ($) | $445,000 | $445,000 | $460,000 |
| Bonus ($) | $144,500 | $115,600 | $66,882 |
| Base Salary Change | FY 2024 | FY 2025 | % Change |
|---|---|---|---|
| Gregory Wong | $445,000 | $460,000 | 3.37% |
| Target Bonus (FY2025) | Base Salary ($) | Target Bonus ($) | Target Bonus as % of Salary |
|---|---|---|---|
| Gregory Wong | $460,000 | $314,000 | 68.3% (314,000 / 460,000) |
Performance Compensation
| Annual Bonus Program (FY2025) | Metric | Weighting | Target | Actual | Payout | Vesting/Timing |
|---|---|---|---|---|---|---|
| Company-wide bonus | Media margin dollars (weighted by vertical contribution per operating plan) | Company-wide weighting by vertical share | Achieve operating plan media margin dollars | 46% target achievement (Committee exercised discretion to reduce) | 21.3% of target (Wong $66,882) | Paid after FY-end; CEO recommended reductions |
| Performance Stock Units (FY2025 grants) | Metric | Threshold | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| PSUs granted July 30, 2024 | Adjusted EBITDA | $56.5M (100% only if ≥$56.5M; no >100% mechanism) | ~$81.3M in FY2025 | 100% earned | 25% at first anniversary of grant/vesting start; 6.25% quarterly for 12 quarters thereafter |
| FY2025 Equity Grants (July 30, 2024) | Type | Shares (#) | Grant Date | Grant Date Fair Value ($) |
|---|---|---|---|---|
| Gregory Wong | Service-vesting RSUs | 68,100 | July 30, 2024 | $1,272,789 |
| Gregory Wong | Performance-vesting RSUs (target) | 68,100 | July 30, 2024 | $1,272,789 |
| Vesting schedule (RSUs/PSUs) | — | — | — | 25% at first anniversary; 6.25% quarterly for 12 quarters thereafter |
Equity Ownership & Alignment
| Ownership Snapshot (as of Aug 15, 2025) | Shares Beneficially Owned | Shares Outstanding | Ownership % |
|---|---|---|---|
| Gregory Wong | 190,740 | 55,676,795 | 0.34% (190,740 / 55,676,795) |
| Unvested Awards (as of June 30, 2025) | Grant | Unvested Shares (#) | Market Value at $16.10/share ($) |
|---|---|---|---|
| RSUs (FY2021) | Jul 26, 2021 | 2,500 | $40,250 |
| PSUs (FY2021, earned %) | Jul 26, 2021 | 2,500 | $40,250 |
| RSUs (FY2022) | Jul 26, 2022 | 23,438 | $377,352 |
| PSUs (FY2023, not satisfied) | Jul 26, 2022 | 7,811 | $125,757 (note: FY2023 PSUs did not vest) |
| RSUs (FY2023) | Jul 25, 2023 | 42,188 | $679,227 |
| PSUs (FY2024, earned 100%) | Jul 25, 2023 | 28,125 | $452,813 |
| RSUs (FY2025) | Jul 30, 2024 | 68,100 | $1,096,410 |
| PSUs (FY2025, earned 100%) | Jul 30, 2024 | 68,100 | $1,096,410 |
- Stock options: No outstanding options listed for Wong as of FY2025 year-end; he exercised 40,000 options during FY2025, realizing $557,600 .
- Stock ownership guidelines: Designated Executives must hold 2× base salary; non-qualifying holdings include pledged shares, unvested PSUs/RSUs, and unexercised options; Wong has satisfied or is on track to satisfy requirements within the applicable timeframe .
- Hedging/pledging: Company policy prohibits short sales, hedging, and pledging by directors and officers .
Employment Terms
| Change-in-Control (CIC) Economics (Double-Trigger) | Term |
|---|---|
| Cash severance | 1× annual base salary + 1× annual target bonus (greater of amounts immediately prior to termination, at CIC date, or prior to Good Reason event) |
| Health benefits | Lump sum cash equal to 12×135% of monthly COBRA premiums |
| Equity | Full acceleration of outstanding and unvested equity awards; PSUs deemed achieved (up to max if applicable) if CIC before certification; service vesting continues unless terminated in Qualifying Termination window |
| 280G | Best-net cutback vs full payment to optimize after-tax outcome |
| Term | CIC agreements auto-renew for three-year terms; minimum 12 months beyond CIC event |
| Employment agreements | None for officers (at-will employment) |
| Clawbacks | SEC 10D/Nasdaq-compliant recovery policy and a discretionary recoupment policy covering cash bonus and equity for restatements, inaccurate metrics, or misconduct |
| Estimated CIC Payouts (as of June 30, 2025) | Base Salary ($) | Target Bonus ($) | Health & Welfare ($) | Equity Acceleration ($) | Total ($) |
|---|---|---|---|---|---|
| Gregory Wong | $460,000 | $314,000 | $38,717 | $3,772,649 | $4,585,366 |
Investment Implications
- Pay-for-performance alignment: Wong’s incentive mix is equity-heavy with FY2025 PSU payout at 100% on Adjusted EBITDA, while cash bonuses were reduced to 21.3% of target despite 46% plan achievement, highlighting disciplined profitability alignment .
- Supply overhang and cadence: RSU/PSU vesting schedules create quarterly share releases (6.25% per quarter after first anniversary) across multiple grants (FY2023–FY2025), potentially adding systematic supply; FY2025 option exercises ($557,600 value realized) indicate prior monetization activity .
- Alignment safeguards: Ownership guidelines (2× salary) and prohibition on hedging/pledging reduce misalignment and collateral risk; Wong has satisfied or is on track for guideline compliance within required timelines .
- Retention and CIC dynamics: No employment agreement increases at-will flexibility; double-trigger CIC terms (1× salary + 1× target bonus + full equity acceleration) and ~$4.59M estimated benefit for Wong suggest meaningful retention incentives around strategic transactions and potential change-of-control outcomes .
Overall, Wong’s compensation structure heavily links realized pay to Adjusted EBITDA and stock performance via PSUs and RSUs, with governance protections (clawbacks, hedging/pledging bans, ownership guidelines) and CIC economics that balance retention with shareholder-aligned triggers .