Izilda Martins
Chief Financial Officer at SYM
Executive
About Izilda Martins
Izilda “Izzy” Martins, age 53, was appointed Chief Financial Officer (CFO) and principal financial officer of Symbotic Inc. effective August 9, 2025, after joining as CFO‑designate on July 1, 2025 . She holds a B.S. in Accounting and a J.D. from Seton Hall University . Company performance context entering her tenure: FY2024 revenue grew ~50% year over year to $1.79B and the company delivered its first quarter of GAAP net income in Q4 FY2024 . Symbotic’s TSR since September 25, 2021 measured $260.41 at FY2024 year‑end, versus 163.29 for the S&P 500 Information Technology Index .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Avis Budget Group, Inc. | EVP & CFO | Jan 2024 – Jun 2025 | Led all financial operations; previously drove post‑pandemic transformation in Americas business (> $9B revenue) . |
| Avis Budget Group, Inc. | EVP, Americas (interim Jan 2020; permanent Jun 2020 – Dec 2023) | 2020 – 2023 | Accountable for large market segment; operational leadership through transformation . |
| Avis Budget Group, Inc. | SVP & CFO, Americas | May 2014 – Dec 2019 | Regional finance leadership . |
| Avis Budget Group, Inc. | SVP & Chief Accounting Officer | Nov 2010 – May 2014 | Corporate accounting leadership . |
| Avis Budget Group, Inc. | VP of Tax | Aug 2006 – Nov 2010 | Tax leadership . |
| Cendant Corporation | Director, Tax Planning & M&A | Nov 2004 – Aug 2006 | Transaction tax planning . |
| Deloitte & Touche LLP | Various roles | ~1997 – 2004 | Public accounting foundation . |
External Roles
No public company directorships or external board roles disclosed .
Fixed Compensation
| Component | Terms |
|---|---|
| Base Salary | $650,000 annually . |
| Target Annual Bonus | 100% of base salary; FY2025 bonus calculated on 75% of annualized salary without proration from start date; must be employed at payment . |
| Sign‑on Cash Bonus | $500,000, paid 50% one month after start and 50% on one‑year anniversary; full gross amount repayable if terminated for Cause or voluntary resignation without Good Reason within two years . |
| Initial Equity Award | $12,000,000 aggregate target value granted ~July 23, 2025; 2/3 RSUs, 1/3 PSUs; units determined by 20‑day average closing price prior to grant date . |
| Annual Equity Program (ongoing) | Eligible starting FY2026 with initial annual target value of $4,000,000, subject to Compensation Committee approval and performance . |
| Temporary Housing & Relocation | Up to $6,000/month for up to one year of temporary housing; relocation services within two years of start date . |
| Benefits | Standard medical/dental/vision; 401(k) with company match; other standard benefits . |
Performance Compensation
Annual Cash Incentive (Plan Design and Company Metrics)
| Metric | Weight | Target Framework | Notes |
|---|---|---|---|
| Adjusted EBITDA (non‑GAAP) | 50% | Company‑set annual goals | Emphasizes profitability . |
| Net Revenue (GAAP) | 30% | Company‑set annual goals | Top‑line growth focus . |
| Customer Experience | 20% | Company‑evaluated | Long‑term customer value . |
FY2025 specific targets/payouts for Martins not disclosed; plan eligibility and target opportunity are defined in her offer letter .
Initial Equity Award Structure and Vesting
| Award Type | Target Value | Units | Vesting | Performance Metrics |
|---|---|---|---|---|
| RSUs | 2/3 of $12,000,000 | 177,421 RSUs granted July 23, 2025 | 1/3 on first anniversary of grant; remaining 2/3 in eight equal quarterly installments over the following two years (subject to continued employment) . | Time‑based; no performance metrics . |
| PSUs | 1/3 of $12,000,000 | Not disclosed (units determined by pricing formula) | Vest on third anniversary of grant date (expected FY2028), subject to performance and continued employment . | Revenue and Adjusted Free Cash Flow; mix aligned to executive PSU plan for FY2025 . |
PSU performance framework (company standard):
- 70% weight on cumulative FY24–FY26 metrics (Revenue 50%, Cumulative Adjusted Free Cash Flow 50%) with vesting after three‑year period .
- 30% weight on single‑year metrics (Revenue 50%, Adjusted Free Cash Flow 50%) with vest at third anniversary to the extent earned .
Equity Ownership & Alignment
| Item | Amount | Notes |
|---|---|---|
| Class A Common Stock – Direct | 3,500 shares . | |
| RSUs Outstanding | 177,421 units . | |
| PSUs Outstanding | Target units not disclosed; award equals 1/3 of the $12,000,000 initial grant value, priced off 20‑day average . | |
| Ownership % of Class A | ~0.003% (3,500 / 106,662,107 Class A shares outstanding at Jan 6, 2025) . | |
| Hedging/Pledging | Prohibited for executives under Insider Trading Policy (no short sales, derivatives, hedging, margin purchases, or pledging) . | |
| Clawback Policy | Adopted Dec 1, 2023; applies to erroneously awarded incentive‑based compensation upon required restatement; 2024 interim restatements reviewed with no recovery required as annual metrics governed payouts . | |
| Ownership Guidelines | Not disclosed in available filings . |
Insider selling pressure timeline:
- First RSU cliff vest expected on July 23, 2026; subsequent quarterly vesting thereafter (subject to trading windows and blackout periods) .
Employment Terms
| Term | Details |
|---|---|
| Employment Start | July 1, 2025 (CFO‑designate); CFO effective August 9, 2025 . |
| At‑Will Employment | Offer letter confirms at‑will status, subject to policies and agreements . |
| Severance (Involuntary Termination or Good Reason) | 12 months base salary + up to 12 months medical benefits continuation (COBRA reimbursed or continuation at Company discretion), subject to release and covenants . |
| Good Reason (Triggers) | Material reduction in base salary/bonus target; material reduction in scope/title/reporting; Change of Control (with notice/cure timing) . |
| Change‑of‑Control Equity Treatment | Company equity awards have double‑trigger vesting: RSUs/PSUs vest in full upon termination without Cause or for Good Reason on or within one year following a Change of Control (per plan terms) ; Martins’ offer preserves more favorable equity CIC treatment in grant agreements . |
| Restrictive Covenants | Execution of Invention, Non‑Disclosure & Non‑Solicitation Agreement and Non‑Competition Agreement required; compliance conditions tie to severance . |
| Indemnification | Company standard indemnification agreement applicable . |
Performance & Track Record
- Deep finance and operational pedigree: CFO of Avis Budget (corporate CFO) and EVP Americas with accountability for >$9B revenue; prior CAO and regional CFO roles indicate breadth across controllership, tax, FP&A, and operations .
- Symbotic operating momentum into transition: FY2024 revenue ~$1.79B (+~50% y/y); first GAAP net income quarter in Q4 FY2024; systems deployed increased from 12 to 25 operational and 44 in deployment by FY2024 end .
Investment Implications
- Pay‑for‑performance alignment: Initial equity is majority RSUs (time‑based) with meaningful PSU exposure to revenue and adjusted FCF, aligning Martins’ upside with profitable growth and cash generation; clawback policy strengthens governance for financial integrity .
- Vesting cadence and potential supply: A sizable first RSU cliff in July 2026 followed by quarterly vesting may introduce periodic selling pressure (subject to blackout windows); monitor Section 16 filings around vest dates .
- Retention and CIC protection: 12‑month severance and double‑trigger equity vesting on CIC‑related termination reduce retention risk through transition and strategic events; Good Reason includes CIC, enhancing executive protection .
- Governance safeguards: Explicit prohibitions on hedging/pledging and an operative clawback policy are positives for alignment; no ownership guideline disclosure—investors should engage on formalized ownership requirements over time .