Srinivas Attili
Science Applications InternationalAbout Srinivas Attili
Srinivas “Srini” Attili is Executive Vice President, Civilian Business Group at SAIC, responsible for strategy, business development, and delivery across healthcare, law enforcement, border protection, transportation, federal financial, and state/local markets. He joined SAIC effective May 6, 2024 after leadership roles at McKinsey, Deloitte, and IBM; he holds an MBA (University of Maryland), MS in Computer Science (NJIT), and BE in Computer Technology (Nagpur University), and has multiple USPTO patents in business intelligence and analytics . Company performance during FY2025: revenue $7.48B (+$35M YoY), adjusted diluted EPS $9.13 (+16% YoY), adjusted EBITDA margin 9.5% (vs. 9.0% prior), operating cash flow $535M (ex-AR sale), and TSR of -15% as of Jan 31, 2025, with $527M buybacks and $75M dividends .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| McKinsey & Company | Partner; Healthcare & Digital Transformation | ~3 years (prior to May 2024) | Led digital transformation initiatives for healthcare orgs; shaped and delivered growth strategies with sustainable impact |
| Deloitte Consulting LLP | Principal | Not disclosed | Led technology-enabled transformation for commercial health plans, providers, life sciences, and federal customers |
| IBM (Public Sector Technology/Application Services) | Practice Lead | Not disclosed | Shaped/scaled digital transformations across state/local, higher education, healthcare, life sciences |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| USPTO (Patents) | Patent holder in BI/data collection/analytics | Not disclosed | Demonstrates innovation credentials in analytics and data systems |
| Certifications | Professional, Academy for Healthcare Management; PMP | Not disclosed | Enhances domain expertise and program execution credibility |
Fixed Compensation
| Component | FY2025 Amount |
|---|---|
| Base Salary (annual target) | $550,000 |
| Salary Earned (prorated May 6, 2024–FY-end) | $391,346 |
| Target Bonus % of Base | 80% |
| Actual Cash Incentive Paid | $480,249 |
| Sign-on Bonus | $1,000,000 |
| SAIC Retirement Plan Match | $13,637 |
| Perquisites (Physical health program) | $5,550 |
| Perquisites (Taxable transport/security costs) | $1,331 |
Performance Compensation
Short-Term Incentive (Company-level metrics used for NEOs in FY2025)
| Metric | Weight | Threshold | Target | Maximum | Actual | % of Target Achieved | Payout % |
|---|---|---|---|---|---|---|---|
| Revenue | 33.3% | $7.292B | $7.542B | $7.763B | $7.479B | 99.2% | 87.4% |
| Adjusted EBITDA | 33.3% | $682M | $700M | $722M | $705M | 100.7% | 122.7% |
| Adjusted Operating Cash Flow | 33.3% | $510M | $525M | $540M | $538M | 102.5% | 186.7% |
| STI Award Payout Percentage | — | — | — | — | — | — | 132.3% |
- Individual leadership multiplier range 0.5–1.2 applied to calculated award; Committee-determined for CEO and with CEO input for other NEOs .
Long-Term Incentives (Attili FY2025 grants and PSU structure)
| Grant Date | Instrument | Shares Granted | Vesting | Grant Date Fair Value |
|---|---|---|---|---|
| 2024-06-07 | PSUs (FY2025–FY2027 cycle) | Threshold: 2,081; Target: 4,161; Max: 8,322 | Earned shares settle at end of 3-year period; metrics: cumulative adjusted EBITDA, cumulative adjusted operating cash flow, rTSR vs compensation peer group | $380,066 |
| 2024-06-07 | RSUs (annual LTI) | 2,774 | Time-based RSUs vest 33% on each grant anniversary over 3 years | $324,003 |
| 2024-06-07 | RSUs (sign-on retention) | 8,562 | Vests 33% on first, second, and third anniversaries of grant date | $1,000,042 |
Historical PSU performance context (company-level): FY2023–FY2025 PSUs earned at 134.2% of target (Cumulative Adjusted EBITDA 99.2% payout; Cumulative Adjusted Operating Cash Flow 136.9% payout; rTSR 166.7% payout) .
Equity Ownership & Alignment
| Item | Amount | As of |
|---|---|---|
| Common shares owned (direct/beneficial) | 300 | April 7, 2025 |
| Unvested RSUs | 8,562 ($927,093) | Jan 31, 2025 |
| Unvested RSUs | 2,774 ($300,369) | Jan 31, 2025 |
| Unearned PSUs (max potential shown by company) | 8,322 ($901,106) | Jan 31, 2025 |
| Shares pledged as collateral | None | April 7, 2025 |
| Shares outstanding | 47,167,287 | April 7, 2025 |
| Ownership as % of shares outstanding | ~0.0006% (300 ÷ 47,167,287) | |
| Executive stock ownership guideline | 3x base salary | Policy |
| Holding requirement | Must hold 100% of net shares until guideline met | Policy |
| Compliance status | New executives (Attili) making progress toward guideline | FY2025 |
Vesting cadence and potential selling pressure:
- RSUs vest 33% on each anniversary of the June 7, 2024 grant date (i.e., June 7, 2025/2026/2027), with dividend equivalents paid upon vesting; executive must hold 100% of net shares until ownership guideline achieved, and hedging/pledging is prohibited—reducing near-term selling pressure .
Employment Terms
| Term | Key Details |
|---|---|
| Role start date | Effective May 6, 2024 as EVP, Civilian Business Group |
| Employment agreement | None; executives covered by Executive Severance, Change in Control and Retirement Policy |
| Severance (non-CIC) | Lump sum 1.5x (salary + average of last three actual annual bonuses), 18 months COBRA-equivalent cash, up to $25,000 outplacement; continued vesting per original terms without minimum holding period; 2-year non-compete required |
| Severance (CIC; qualifying termination within window) | Lump sum 2x (salary + target bonus), 24 months COBRA-equivalent cash, up to $25,000 outplacement, pro-rata target bonus; equity per 2013/2023 plan terms |
| Potential payments (Attili, illustrative) | Non-CIC: Total $3,673,678 (Bonus $440,000; Severance $1,485,000; Medical $34,195; Outplacement $25,000; RSUs $1,235,851; PSUs $453,632) . CIC: Total $3,877,655 (Bonus $440,000; Severance $1,980,000; Medical $45,593; Outplacement $25,000; RSUs $1,235,851; PSUs $151,211) . |
| Change-in-control equity treatment | Under 2023 Plan, time-based awards accelerate upon qualifying termination within 18 months of CIC; PSU performance period ends at CIC with earned shares (completed fiscal years plus pro rata current year) |
| Clawback | Incentive compensation subject to recoupment upon restatement or misconduct |
| Hedging/Pledging | Prohibited; pre-clearance required for all transactions |
Compensation Structure Analysis
- Pay-for-performance: Majority of compensation is variable (STI plus PSUs/RSUs); STI metrics (revenue, adjusted EBITDA, adjusted operating cash flow) and PSU metrics (cumulative adjusted EBITDA/operating cash flow/rTSR) directly align pay with profitable growth and cash generation .
- Mix and shifts: Attili received a $1,000,000 sign-on RSU in addition to standard annual RSUs/PSUs, indicating retention emphasis during leadership onboarding .
- Governance features: No employment agreements; no excise tax gross-ups; double-trigger change-in-control features under the 2023 Plan; independent consultant (FW Cook) advises the Compensation Committee; target total direct compensation benchmarked around market median vs a defined peer group .
- Say-on-Pay support: 97% approval at 2024 annual meeting underscores investor support for the program design .
Compensation peer group (FY2025): Booz Allen Hamilton, CACI, CGI, DXC, Huntington Ingalls, ICF, Jacobs Solutions, KBR, Leidos, Maximus, Parsons, Tetra Tech, Textron; target competitive positioning at the median .
Performance & Track Record
- Execution credentials: Led complex digital transformations and growth strategies across healthcare and public sector at McKinsey, Deloitte, and IBM; patents in BI/analytics support technical leadership .
- Company performance context in FY2025 during his tenure: Revenue $7.48B (+$35M), adjusted diluted EPS $9.13 (+16%), adjusted EBITDA margin 9.5%, OCF $535M ex-AR sale; TSR -15%—underscoring focus on profitable growth and balance sheet returns (buybacks/dividends) .
Equity Ownership & Alignment Details
| Category | Detail |
|---|---|
| Stock ownership guidelines | 3x base salary for NEOs; must hold 100% of net shares until compliant; Attili progressing as FY2025 hire |
| Alignment policies | Prohibitions on hedging/pledging; clawbacks; continued vesting on non-CIC separation per policy—supports alignment and mitigates excessive risk-taking |
Investment Implications
- Retention and alignment: Significant sign-on RSUs plus standard PSU/RSU mix and 3x ownership guideline create strong retention and performance alignment; prohibited hedging/pledging and holding requirements temper selling pressure around vest events .
- Change-in-control economics: Double-trigger (2023 Plan) and severance multiples (2x CIC; 1.5x non-CIC) are market-standard and reduce distraction risk during strategic events; no tax gross-ups .
- Performance linkage: STI and multi-year PSU metrics tie pay to profitable growth, cash generation, and rTSR vs peers; FY2023–FY2025 PSU payout at 134.2% reflects historical execution on cash and rTSR measures .
- Ownership footprint: Current direct holdings are small (300 shares ~0.0006% of outstanding), but policy-driven accumulation and holding requirements should increase alignment over time .