Christopher Slowe
About Christopher Slowe
Christopher Slowe, Ph.D., is Reddit’s founding engineer and Chief Technology Officer (CTO) since May 2017; he previously served as Director of Engineering (Jan 2016–May 2017), held engineering leadership roles at Reddit (2005–2010), and was Chief Scientist at Hipmunk (2010–2015). He is 46 and holds a Ph.D. and B.A. in Physics (and Math) from Harvard University . Company performance metrics tied to executive pay in 2024 included DAUq, revenue, and Adjusted EBITDA, with results of 101.7M DAUq, $1,300.2M revenue, and $298.0M Adjusted EBITDA, funding the annual bonus pool at 225% . Reddit’s initial post‑IPO TSR measured to year‑end 2024 was 324.03, with net income of $(484)M and revenue of $1,300M, underscoring strong top‑line traction during the first public year .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| CTO | May 2017–present | Led platform and engineering; founding engineer; accountability for core product/ML/search . | |
| Director of Engineering | Jan 2016–May 2017 | Scaled engineering organization pre‑IPO . | |
| Engineering leadership roles | Sep 2005–Nov 2010 | Early development and architecture contributions . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Hipmunk (online travel) | Chief Scientist | Nov 2010–Dec 2015 | Applied data/ML to travel search and product capabilities . |
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | 450,000 | 500,000 |
| Target Bonus (% of Salary) | 60% | 60% |
| Target Bonus ($) | n/a | 300,000 |
| Actual Cash Bonus Paid ($) | n/a | 675,000 (225% of target) |
Performance Compensation
Annual Bonus Metrics and Outcomes (2024)
| Metric | Weight (%) | Threshold (50% payout) | Target (100%) | Max (225%) | Actual | Payout (% of target) |
|---|---|---|---|---|---|---|
| DAUq (daily active uniques) | 40 | 78.0M | 87.0M | 96.0M | 101.7M | 225% |
| Revenue ($M) | 40 | 980.0 | 1,030.0 | 1,080.0 | 1,300.2 | 225% |
| Adjusted EBITDA ($M) | 20 | — | 15.0 | 35.0 | 298.0 | 225% |
| Total | — | — | — | — | — | 225% |
2024 bonus plan funded at 225% based on the above outcomes; Slowe’s cash bonus paid: $675,000 .
Equity Awards (2024 grants)
| Award Type | Grant Date | Shares (#) | Vesting | Grant Date Fair Value ($) |
|---|---|---|---|---|
| RSU | 2/7/2024 | 94,290 | Equal quarterly over 1 year on Feb 20, May 20, Aug 20, Nov 20 (service‑based) | 2,974,850 |
Outstanding Options and RSUs (as of 12/31/2024)
| Instrument | Grant Date | Exercisable (#) | Exercise Price ($) | Expiration | Unvested RSUs (#) | Market Value of Unvested RSUs ($) |
|---|---|---|---|---|---|---|
| Stock Option | 2/25/2016 | 230,464 | 1.93 | 2/24/2026 | — | — |
| Stock Option | 5/28/2019 | 106,579 | 7.92 | 5/27/2029 | — | — |
| Stock Option | 2/10/2020 | 106,579 | 7.92 | 2/9/2030 | — | — |
| Stock Option | 5/20/2021 | 32,684 | 20.76 | 5/19/2031 | — | — |
| RSU (2017 Plan, service + liquidity) | 12/13/2021 | — | — | — | 14,058 | 2,297,640 (at $163.44) |
| RSU (2017 Plan) | 2/8/2023 | — | — | — | 76,677 | 12,532,089 (at $163.44) |
| RSU (2017 Plan) | 11/1/2023 | — | — | — | 35,714 | 5,837,096 (at $163.44) |
| RSU (2017 Plan) | 2/7/2024 | — | — | — | 23,572 | 3,852,608 (at $163.44) |
RSU vesting schedules for Slowe’s 2017/2023/2024 awards are time‑based and, where applicable, contingent on the IPO liquidity condition (satisfied in 2024), with quarterly vesting rates as detailed in footnotes (1/9ths, 1/12ths, 1/8ths, or 1/4ths per plan) .
2024 realizations: options exercised 273,640 shares ($14,904,576 value realized) and RSUs vested 354,292 shares ($21,361,696 value realized) .
Equity Ownership & Alignment
| Category | Class A Shares | Class A % | Class B Shares | Class B % | Notes |
|---|---|---|---|---|---|
| Beneficial Ownership | 478,571 | * (<1%) | 197,464 | * (<1%) | Includes direct, trust, options exercisable within 60 days, and RSUs settleable within 60 days . |
| Options exercisable within 60 days | 245,842 Class A; 197,464 Class B | — | — | — | Counts included in beneficial ownership . |
| RSUs settleable within 60 days | 27,555 Class A | — | — | — | Included in beneficial ownership . |
- Hedging and pledging of Reddit stock are prohibited under the Insider Trading Policy; Rule 10b5‑1 trading plans are permitted .
- No executive stock ownership guidelines disclosed for officers; director guidelines exist separately (not applicable here) .
Employment Terms
| Provision | Non‑CIC Termination | Change‑of‑Control (CIC) Covered Termination | Notes |
|---|---|---|---|
| Severance Cash | 12 months base salary ($500,000) | 12 months base salary ($500,000) | At‑will offer letter; beneficiary of Executive Change in Control and Severance Plan . |
| Bonus | — | Prorated target bonus for year of termination ($300,000 target) | CIC payout is double‑trigger (termination in CIC window) with target‑level bonus proration . |
| COBRA | Up to 12 months company‑paid | Up to 12 months company‑paid | — |
| Equity | — | Full acceleration of time‑based equity | Estimated accelerated vesting value as of 12/31/2024: $24,519,432 . |
| Clawback | Compensation recovery policy adopted Feb 2024 (SEC/NYSE compliant; applies to incentive‑based comp upon accounting restatements) | Same | — |
| Hedging/Pledging | Prohibited | Prohibited | Alignment feature reducing misalignment risk. |
Compensation Structure Analysis
- Pay mix emphasizes variable compensation: 2024 cash bonus funded at 225% on DAUq/revenue/Adjusted EBITDA outcomes; equity awards (RSUs) vest quickly (1‑year for 2024 grant) and longer schedules exist for prior grants—driving retention via continued service .
- No excise tax gross‑ups; double‑trigger CIC protection for Slowe via plan participation—market‑standard and not shareholder‑unfriendly .
- Hedging/pledging prohibited; Rule 10b5‑1 permitted—reduces alignment risk from derivatives or collateral pledging .
- Compensation benchmarking uses a peer set of high‑growth tech/internet companies (e.g., Pinterest, Roblox, Snap, Twilio, Unity, Roku, Zillow) to calibrate competitiveness; no fixed target percentile disclosed .
Risk Indicators & Red Flags
- Equity vesting acceleration under CIC double‑trigger is standard; immediate vesting can create near‑term selling pressure post‑CIC if large unvested balances exist (Slowe had $24.5M of unvested RSUs by 12/31/2024) .
- No hedging/pledging allowed, reducing alignment concerns .
- 2024 option exercises and RSU vesting produced substantial realizations ($14.9M and $21.4M), which can translate into selling activity depending on tax/liquidity needs; actual sales require Form 4 review (not disclosed in the proxy) .
Say‑on‑Pay & Shareholder Feedback
- 2025 advisory say‑on‑pay and say‑on‑frequency are on the ballot; board recommends “FOR” and annual frequency, respectively .
- Results not yet disclosed; future proxies will reflect outcomes .
Expertise & Qualifications
- Education: Ph.D. Physics; B.A. Physics and Math (Harvard) .
- Technical leadership: founding engineer; led ML/search relevance improvements; platform scale .
- Industry experience: consumer internet, AI‑powered search initiatives (Reddit Answers beta), ad tech enhancements (Conversation Ads, AMA Ads), and analytics tooling (Reddit Pro) .
Equity Ownership & Vesting Detail (Supplemental)
| 2024 Realizations | Shares (#) | Value ($) |
|---|---|---|
| Options exercised | 273,640 | 14,904,576 |
| RSUs vested | 354,292 | 21,361,696 |
Shows potential liquidity/overhang from equity realizations; actual dispositions would be captured via Form 4 filings (not included in this proxy) .
Investment Implications
- Alignment: Significant unvested RSUs with double‑trigger CIC acceleration and prohibition on hedging/pledging support long‑term alignment, but create potential post‑CIC supply if large tranches accelerate ($24.5M unvested value at YE2024) .
- Execution: Bonus metrics directly tied to platform scale (DAUq), revenue, and Adjusted EBITDA—with 2024 outperformance (225% payout) signaling operational achievement in Slowe’s remit (search/ML/platform) .
- Trading signals: 2024 option exercises and RSU vesting imply material equity inflows; monitor Rule 10b5‑1 plan disclosures and Form 4 activity for near‑term selling pressure post‑vesting windows .
- Retention: 2024 RSU grant vests in one year, while prior awards have multi‑quarter schedules—near‑term vest completions reduce retentive value; CIC protections and ongoing grant cadence mitigate attrition risk .