Kiran Choudary
About Kiran Choudary
Rubrik’s CFO since November 2020, previously SVP Finance & Strategy (Aug 2018–Nov 2020), with earlier roles at Atlassian (VP Finance & Strategy) and Goldman Sachs (Technology Investment Banking). Age 50 as of March 31, 2025; education includes B.Tech (IIT), M.S. Engineering (MIT), and MBA (Wharton) . Under his finance leadership, Rubrik reported Q2 FY26 subscription ARR over $1.25B (+36% YoY), cloud ARR $1.1B (+57% YoY), total revenue $310M (+51% YoY), and free cash flow of ~$57.5M (19% margin), while guiding FY26 revenue growth to 38–40% and FCF of $145–$155M .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Rubrik, Inc. | CFO | Nov 2020–present | Executive finance leadership during IPO and scale-up (impact not separately disclosed) |
| Rubrik, Inc. | SVP Finance & Strategy | Aug 2018–Nov 2020 | Finance & strategy leadership (not separately disclosed) |
| Atlassian Corporation PLC | VP Finance & Strategy | Aug 2013–Aug 2018 | Finance & strategy leadership (not separately disclosed) |
| Goldman Sachs | VP, Technology Investment Banking | Prior to 2013 | Capital markets advisory (not separately disclosed) |
External Roles
None disclosed for Choudary in company filings .
Fixed Compensation
| Metric | FY 2024 | FY 2025 |
|---|---|---|
| Base salary ($) | $365,000 | $365,000 |
| Target bonus (% of salary) | 50% | 50% |
| Performance bonus ($, non‑equity incentive) | $100,375 | — |
| Discretionary bonus ($) | $27,375 | $155,125 |
Performance Compensation
Equity Awards and Vesting
| Grant date | Instrument | Shares | Vesting schedule | Performance condition | FY25 market value ($) |
|---|---|---|---|---|---|
| 3/15/2022 (commencement) | RSUs | 35,938 | 16 equal quarterly installments from 3/15/2022 (service); continued service required | Satisfied at IPO | $2,633,177 (at $73.27) |
| 3/15/2023 (commencement) | RSUs | 475,000 | Annual installments: 75k (2023), 125k (2024), 150k (2025), 200k (2026) (service); continued service required | Satisfied at IPO | $34,803,250 (at $73.27) |
| 3/15/2024 (commencement) | RSUs | 275,000 | 10% (3/15/2025), 20% (3/15/2026), 35% (3/15/2027), 35% (3/15/2028) (service) | Satisfied at IPO | $20,149,250 (at $73.27) |
Notes:
- Annual cash incentive: target 50% of salary; awards based on corporate financial metrics; FY25 bonuses for CEO and CFO were discretionary, reflecting committee judgment of performance against objectives .
Option Awards
| Grant date | Options (exercisable) | Strike ($) | Expiration |
|---|---|---|---|
| 9/18/2018 | 12,515 | $7.99 | 9/17/2028 |
| 9/18/2018 | 71,935 | $7.99 | 9/17/2028 |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | 413,458 Class A shares; 84,450 Class B options exercisable within 60 days of 3/31/2025; <1% of total voting power |
| Vested vs unvested | Multiple unvested RSU tranches as detailed above, with next scheduled vest on 3/15/2026 for 2024 grant |
| Options – exercisable vs unexercisable | 84,450 exercisable; unexercisable not disclosed |
| Hedging/pledging | Hedging, margin accounts, and public options prohibited; pledging restricted to CEO only under strict preclearance—CFO not eligible to pledge |
| Insider trading arrangements | Adopted Rule 10b5‑1 plan on 1/15/2025 to sell up to 150,000 Class A shares through 4/16/2026; terminated a prior 7/15/2024 plan (up to 237,600 shares) on 1/15/2025 |
| Section 16 compliance | Two late Form 4 reports due to administrative error (exercise/conversion and sales under 10b5‑1) |
Employment Terms
| Term | Provision |
|---|---|
| Employment start date | CFO since November 2020; at‑will employment |
| Severance (change‑in‑control termination) | Lump sum: 12 months base salary (CFO), 100% annual target bonus; up to 12 months COBRA; accelerated vesting of time‑vesting equity awards |
| Equity treatment (CIC, awards not assumed) | If awards are not assumed/continued/substituted in certain CIC transactions and employment not terminated, vesting accelerates (performance awards deemed achieved at target unless otherwise provided) |
| Non‑compete / non‑solicit / garden leave | Not disclosed |
| Clawback provisions | Not disclosed in proxy; Insider Trading Policy restrictions summarized above |
Investment Implications
- Pay mix and retention: Material equity awards with multi‑year, back‑weighted RSU vesting (35% tranches in 2027 and 2028) create strong retention but also predictable selling windows around March 15 each year, often managed via 10b5‑1 plans .
- Alignment and risk controls: Prohibitions on hedging, margin accounts, and pledging (CEO‑only exception) support alignment; CFO is not permitted to pledge shares, reducing collateral‑driven selling risk .
- Change‑in‑control economics: Double‑trigger severance (12 months salary + 100% bonus + COBRA) and equity acceleration on CIC termination; single‑trigger acceleration if awards are not assumed in certain transactions—important for M&A modeling of dilution and incentive outcomes .
- Execution track record: Company metrics during his tenure indicate strong growth and improving cash generation (Q2 FY26 ARR +36%, cloud ARR +57%, revenue +51%, FCF ~$57.5M, FY26 FCF guide $145–$155M), signaling effective capital allocation and operating leverage; note guidance highlights non‑recurring “material rights” contributing ~6 pts to FY26 revenue growth, normalizing in FY27 .
- Trading signals: Active 10b5‑1 plan through April 2026 suggests orderly selling capacity tied to vesting schedules; prior late Section 16 filings appear administrative; monitor Form 4s near March vest dates for potential supply .