Matthew Glitzer
About Matthew Glitzer
Matthew Glitzer (age 57) is Skillsoft’s Chief Revenue Officer since April 2023, responsible for global revenue strategy, go‑to‑market, and sales operations; he joined Skillsoft in September 2022 after senior sales leadership roles at IBM and SAP. He holds an MBA from George Washington University and a BS in Political Science from Rutgers College . Company performance during his tenure includes FY2025 GAAP revenue of $531 million (vs. $553 million prior year) and non‑GAAP Adjusted EBITDA of $109 million with a 21% margin (vs. $105 million, 19% prior year), alongside early customer traction for AI solutions (CAISY™ nearly 1 million launches) . Pay‑versus‑performance disclosure shows the value of a fixed $100 investment based on TSR at $78 for FY2025 (vs. $36 for FY2024), underscoring shareholder return context over the period .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| IBM (Americas) | Vice President, Security Sales | Jul 2021–Aug 2022 | Led all Security products/services sales across the Americas, driving enterprise security go‑to‑market . |
| IBM (Asia Pacific) | Vice President, Integrated Security Business Unit | Feb 2020–Jun 2021 | Ran Security Software sales and Services; member of regional Senior Leadership Team . |
| IBM (Greater China/Hong Kong) | GM, Global Technology Services (HK); Head of Client Management & Offerings | Jul 2018–Jan 2020 | Country/regional P&L for managed services; solutioning, consulting, go‑to‑market oversight . |
| SAP America | Vice President, Field Alliances | Pre‑2005 | Built strategic alliances and field partnerships to support enterprise sales motions . |
External Roles
No public company board or external director roles disclosed for Glitzer in Skillsoft’s proxy .
Fixed Compensation
- Structure: Skillsoft executives receive a fixed base salary reviewed for market competitiveness by the Board/Compensation Committee; specific base/bonus figures for the CRO are not disclosed in the proxy .
- Benefits: Executives participate in broad‑based benefits (health, 401(k) match up to $4,000 annually) and may receive allowances for executive health evaluations; CRO‑specific benefits not disclosed .
Performance Compensation
- Annual Cash Incentive Program (CIP): For FY2025, Skillsoft used company‑level metrics with linear payout scales and a plan protection provision tied to Adjusted EBITDA. While CRO‑specific targets are not disclosed, the program’s design and outcomes are as follows .
| Metric | Weight (CEO/CFO) | Weight (Business NEO) | Threshold (50%) | Target (100%) | Over (150%) | Max (200%) | FY2025 Attainment | Payout % |
|---|---|---|---|---|---|---|---|---|
| GAAP Revenue ($mm) | 40% | 40% | $519.0 | $546.7 | $574.0 | $601.3 | $531.0 | 71% |
| Adjusted EBITDA ($mm) | 60% | 40% | $110.0 | $110.0 | $115.5 | $121.0 | $110.4 (incl. ~$1.3mm adj.) | 104% |
| H2 TDS Operating Metric ($mm) | N/A | 20% | $87.5 | $92.1 | $96.7 | $101.3 | $92.2 | 101% |
- Long‑Term Incentives (LTI): Equity awards under the 2020 Plan include RSUs (time‑based, typically vest over 4 years) and PSUs (performance‑based), historically using Relative TSR against the Russell 3000; FY2024 rTSR PSUs paid 64.05% for the first year (certified in FY2025) . The Plan permits performance metrics such as revenue growth, EBITDA, margins, share price/TSR, customer satisfaction, and others, enabling direct alignment to growth and profitability . Inducement grants can combine time‑vested and revenue‑growth PSUs (e.g., CMO grant with 50% RSUs over 4 years and 50% revenue‑linked PSUs over 3 years) .
Equity Ownership & Alignment
- Beneficial Ownership: Individual CRO holdings are not separately disclosed; all current directors and executive officers as a group hold 1,403,903 shares (15.5% of outstanding) as of May 19, 2025, which includes Mr. Glitzer .
- Pledging/Hedging: Insider Trading Policy prohibits short sales, options, pledging, margin accounts, and hedging transactions; as of May 19, 2025, none of Skillsoft’s directors or officers had shares pledged as collateral .
- Deferrals/Guidelines: RSU deferral elections are available for directors; executive stock ownership guidelines are not disclosed in the proxy .
Employment Terms
- CRO‑Specific Contract: Not disclosed.
- Context from non‑CEO executive term sheets (indicative of company practice): severance for termination without cause or resignation for good reason typically includes 12 months base salary and benefits continuation, with enhanced change‑in‑control treatment (12 months salary/benefits, prorated and target bonus, and accelerated vesting of outstanding equity awards) . CEO terms are more substantial (e.g., 2x salary+target bonus, COBRA, accelerated vesting, and a capped excise tax gross‑up if change‑in‑control occurs on or before December 31, 2026), but these are not representative of CRO terms .
Investment Implications
- Compensation alignment: The CIP’s dual focus on GAAP revenue and Adjusted EBITDA (with payout scaling and plan protection) promotes top‑line growth while preserving profitability; LTI vehicles (RSUs/PSUs) allow direct linkage to shareholder value via TSR and revenue metrics—constructive for a CRO role driving commercial execution .
- Retention risk: CRO‑specific severance/change‑in‑control protections are not disclosed; based on peer executive term sheets, protections for senior roles appear moderate (12‑month severance), which may be adequate but less robust than CEO protections .
- Ownership/pledging: No pledging and strict hedging prohibitions reduce misalignment risk and insider‑selling pressure concerns; individual CRO holdings not disclosed limit “skin‑in‑the‑game” precision, but group ownership is notable at 15.5% .
- Execution lens: FY2025 results show revenue contraction but EBITDA/margin improvement, highlighting a pivot toward profitable growth while early AI product traction (CAISY™) signals potential demand catalysts—CRO execution will be central to translating product momentum into sustained bookings and revenue growth .
Disclosures on Matthew Glitzer’s individual compensation, bonus targets, equity grants, vesting schedules, and specific employment terms are not provided in Skillsoft’s 2025 proxy; analysis above uses company‑level systems and peer executive disclosures to assess alignment and risk where applicable .