Robyn Young
About Robyn Young
Robyn Young, 49, is Chief Marketing Officer (CMO) of SmartRent, Inc. (NYSE: SMRT) and has served in this role since May 2022; she holds a B.S. in Finance from the University of Arizona . Company performance in FY2024 featured total revenue of $174.9M (-26% YoY), SaaS revenue of $51.6M (+26% YoY), and Adjusted EBITDA improving to -$9.9M from -$19.2M, underscoring a pivot to higher-quality ARR growth and cost discipline . SmartRent emphasizes sustainable ARR growth, platform superiority, operational excellence, and AI-enabled innovation as strategic pillars under Board oversight .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Western Alliance Bank (NYSE: WAL) | Chief Marketing Officer | 2014–2022 | Led marketing and communications at a publicly listed financial institution |
| RED Development | EVP, Marketing & Communications | 2011–2014 | Drove marketing for a commercial real estate developer/operator |
| The Macerich Company (NYSE: MAC) | Increasingly senior roles | Early career | Retail REIT experience in marketing functions |
External Roles
| Organization | Role | Years |
|---|---|---|
| Florence Immigrant and Refugee Rights Project (non-profit) | Board member | Current |
Fixed Compensation
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary ($) | $196,875 | $315,000 | $327,600 (derived from retention equal to 6 months of base: $163,800) |
| Target Bonus (% of Base) | — | 60% | — |
| Actual Bonus Paid ($) | $109,982 | $228,299 | — |
Notes: 2024 base salary derived by doubling the Board-approved retention payment equal to six months of base salary ($163,800) as disclosed in the July 31, 2024 Form 8-K; SmartRent did not disclose Robyn Young’s 2024 target or actual bonus in the 2025 proxy .
Performance Compensation
| Year | Metric | Weighting | Target | Actual | Payout | Vesting/Timing |
|---|---|---|---|---|---|---|
| 2023 | Company Revenue | Not disclosed | Not disclosed | Not disclosed | Part of $228,299 payout | Annual plan (paid post-year) |
| 2023 | Adjusted EBITDA (AEBITDA) | Not disclosed | Not disclosed | Not disclosed | Part of $228,299 payout | Annual plan (paid post-year) |
| 2023 | Expense Management vs Budget | Capped revised by Board | Not disclosed | Not disclosed | Part of $228,299 payout; cap reduced to 150% | Annual plan |
| 2023 | Leadership Objectives | Not disclosed | Not disclosed | Not disclosed | Part of $228,299 payout | Annual plan |
Program notes:
- The Compensation Committee and Board assess annual goals and can exercise discretion to adjust payouts; for 2023, the cap on the expense-management component was reduced to 150% to align with financial results .
- SmartRent adopted the Executive Incentive Compensation (Umbrella Bonus) Plan in January 2024, providing flexible goal setting, pooling, and discretion in awards .
Equity Ownership & Alignment
| As of Date | Direct Shares | Options Exercisable ≤60 Days | RSUs Settling ≤60 Days | Total Beneficial Ownership | % of Shares Outstanding | Pledged Shares |
|---|---|---|---|---|---|---|
| Feb 29, 2024 | 30,192 | 51,077 | 4,198 | 85,467 | 0.04% (85,467/203,868,714) | None for any director/NEO per policy |
Ownership policy and transactions:
- Stock ownership guidelines require Section 16 officers to hold shares equal to 2x annual base salary within five years of guideline adoption or role start; all executives are within the five-year phase-in as of 12/31/2024 .
- Hedging is prohibited; pledging/margin use restricted and subject to pre-approval; no current pledges by directors or NEOs .
- Insider purchases: Robyn Young bought 14,793 shares on Aug 30, 2024 at $1.6977 for ~$25,114, increasing direct ownership to 52,305 shares .
- Section 16 compliance: late Form 4 filings were noted due to clerical errors for RSU grants on Jan 22, 2025 and options granted Jan 23, 2024, including Robyn Young .
Equity Grants & Vesting Schedules
| Award Type | Grant Date | Quantity | Exercise/Reference Price | Vesting Schedule | Status/Notes |
|---|---|---|---|---|---|
| RSU | 05/09/2022 | 60,873 | N/A | 25% on 05/09/2023; remaining 75% in 36 equal monthly installments thereafter | Unvested units as of 12/31/2023 valued at $194,185 ($3.19/share) |
| Stock Options | 01/24/2023 | 204,309 | $2.87 | 25% on 01/24/2024; remaining 75% in three equal annual installments (2025–2027) | Standard 10-year term |
| RSU | 01/22/2025 | Not disclosed | N/A | RSU grant disclosed via late Form 4, specific quantity not disclosed | Section 16 late filing note |
Plan safeguards: No option repricing without stockholder approval; no dividend rights on options/SARs before share issuance; director annual comp cap; no golden parachute tax gross-ups; robust change-in-control provisions and clawbacks per SEC/NYSE rules .
Employment Terms
| Term | Detail |
|---|---|
| Employment Start Date | May 2022; CMO |
| Employment Agreement | At-will; confidentiality/IP and arbitration agreements in place |
| Severance – Change in Control | 12 months base salary and 12 months COBRA; immediate vesting of equity awards under the 2018 and 2021 plans upon qualifying double-trigger termination (CIC window three months before to 12 months after) |
| Severance – Non-CIC | Not disclosed for Robyn Young (2025 non-CIC severance additions applied to other executives) |
| Non-Compete/Non-Solicit | 6 months post-termination for executives under the Employment Agreements |
| Clawback | Executive compensation recovery policy for restatements; complies with SEC/NYSE rules |
| Ownership Guidelines | Section 16 officers must hold 2x base salary in shares within five years; all within phase-in as of 12/31/2024 |
| Hedging/Pledging | Hedging prohibited; pledging/margin restricted; no current pledges by directors/NEOs |
| Retirement/Pension | No pension/SERP; only 401(k) benefits |
Compensation Structure Analysis
- Year-over-year mix: Robyn’s 2023 comp shows a market-aligned structure—base plus at-risk cash and equity—consistent with SmartRent’s peer-informed approach (Semler Brossy; SaaS/IOT comparables) .
- Option-centric LTIs: 2023 stock options (time-based) remain a material component; RSUs from 2022 create steady vesting, favoring retention through 2026–2027 .
- Discretion controls: The Board exercised discretion to reduce the cap on a 2023 payout component, indicating governance discipline and pay-for-performance alignment .
- Administrative adjustments: Late Section 16 filings were attributed to clerical errors and subsequently corrected, with no indication of hedging/pledging violations .
Related Party Transactions and Governance Safeguards
- No related party transactions involving Robyn Young were disclosed; broader related party oversight includes policy review and Audit Committee approval .
- SmartRent’s equity plans prohibit option repricing and excess director comp; stockholder approval required for share pool increases (Plan expanded in 2024) .
Compensation Peer Group (Benchmarking)
SmartRent’s compensation decisions referenced a peer set including Alarm.com, AppFolio, Arlo, Asana, Domo, Porch Group, SPS Commerce, Verra Mobility, Weave; in Sept 2024, the Committee added PagerDuty, Weave, Olo, Enfusion, AvePoint and removed Qualys, Repay, Rapid7 to maintain relevant SaaS/IoT comparability .
Investment Implications
- Alignment: Robyn’s insider purchase (Aug 2024) and adherence to ownership guidelines, coupled with multi-year RSU/option vesting, signal skin-in-the-game and reduced near-term selling pressure .
- Retention: Time-based vesting through 2026–2027, plus mid-2024 transition retention pay, mitigate retention risk; non-compete/non-solicit clauses (6 months) further protect continuity .
- Pay-for-performance: Annual bonus metrics tied to revenue and Adjusted EBITDA—with demonstrated discretion to cap payouts—indicate governance rigor; the company-level FY2024 pivot to ARR and EBITDA improvement supports a tighter linkage of incentives to profitable SaaS growth .
- Red flags: No pledging, no repricing, and a formal clawback reduce governance risk; late Section 16 filings were clerical and corrected .