Kristy Sundjaja
About Kristy Sundjaja
Kristy Sundjaja (age 47) is Taboola’s Chief People Officer (CPO), serving in the role since February 2022 after joining Taboola in 2019 as SVP of People Operations . She holds a B.S. in Economics from Wharton, a B.S. and M.S. in Engineering, and an MBA from Columbia University . Company performance context during her tenure includes 2024 ex‑TAC gross profit of $667M, Adjusted EBITDA of $201M (30% margin), Free Cash Flow of $149M, and a 7‑year compounded ex‑TAC growth rate of 18% .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Taboola | SVP, People Operations | 2019–2022 | Led global people operations prior to appointment as CPO |
| LivePerson | Chief of Staff & Global Head of People | 2012–2017 | Oversaw people strategy and executive office functions |
| NYC Economic Development Corp. | Head of Industry Transformation Teams | 2009–2012 | Led teams focused on industry transformation initiatives |
| Oliver Wyman | Associate Partner | 1999–2009 | Strategy consulting leadership across sectors |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Exceptional Artists Foundation | Co‑founder & President | 2017–present | Non‑profit empowering the disabled community |
Fixed Compensation
Multi‑year compensation history (USD):
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Base Salary | $360,000 | $360,000 | $380,000 (5% raise) |
| Target Bonus % (STI) | 55% | 55% | 55% |
| Stock Awards (Grant‑date Fair Value) | $1,800,002 | $1,035,874 | $1,383,802 |
| Option Awards | — | — | — |
| Non‑equity Incentive (STI cash) | $55,242 | $204,732 | $203,430 |
| Discretionary Bonus (Yahoo transition) | — | — | $279,000 |
| All Other Compensation | $8,544 | $8,414 | $5,125 (401(k) match, life insurance) |
| Total Compensation | $2,223,788 | $1,609,020 | $2,251,357 |
Notes:
- The 2024 base salary increase aimed to align pay at peer‑group median; no other NEO received a base salary increase in 2024 .
- 2024 “All other compensation” for NEOs generally includes 401(k) matching and life insurance contributions .
Performance Compensation
Annual STI design and 2024 outcomes:
| Metric | Weighting | Target | Actual | Payout vs Target | Vesting/Payment |
|---|---|---|---|---|---|
| Adjusted EBITDA | 70% | $201.2M | $200.9M | 100% | STI cash, paid subsequent to year |
| ex‑TAC Gross Profit | 30% | $689.6M | $667.5M | 92% | STI cash, paid subsequent to year |
| Overall STI Payout | — | — | — | 97% | Sundjaja STI paid: $203,430 |
Long‑term performance‑based cash (Yahoo execution):
- Company adopted a one‑time long‑term Performance Bonus at closing of the Yahoo partnership (Jan 2023), earned on Adjusted Free Cash Flow Per Share with a two‑year performance period; achievement in 2024 was 93% of Target (Adjusted FCF/Share $0.41 vs $0.45 target) .
- In recognition of leadership in the Yahoo transition effort, Sundjaja received a discretionary cash bonus with $300,000 target paid at 93% ($279,000) using the same payout methodology .
2024 equity grants and vesting:
- 2024 RSU grant date and size: 2/27/2024, 288,894 RSUs, grant‑date fair value $1,383,802 .
- RSUs vest in equal quarterly installments over four years beginning in the first quarter following the grant date .
Equity Ownership & Alignment
Ownership, awards, and policy alignment:
| Item | Detail |
|---|---|
| Beneficial Ownership | Less than 1% of outstanding shares (exact count not disclosed) |
| Unvested RSUs at 12/31/2024 | 86,274 (2022 grant; MV $314,900), 186,160 (2023; MV $679,484), 234,726 (2024; MV $856,750); total MV based on $3.65/share = $1,851,134 |
| Options – Exercisable | 202,553 @ $2.63 exp. 11/12/2029; 213,199 @ $8.21 exp. 3/15/2031 |
| Options – Unexercisable | 26,651 @ $8.21 exp. 3/15/2031 |
| In‑the‑Money Status | $2.63 options ITM vs $3.65 close; $8.21 options OTM (close $3.65) |
| 2024 Vesting Activity | 205,923 shares vested from RSUs; no option exercises in 2024 |
| Ownership Guidelines | 3× base salary for executive officers; compliance required by 6/29/2026 or 5 years post‑appointment; Sundjaja still in phase‑in period |
| Hedging/Pledging | Hedging and pledging of company stock prohibited by policy |
| Clawback | Mandatory recovery of erroneously awarded incentive comp under SEC/Nasdaq rules effective 10/2/2023 |
In‑the‑money value illustration (as of 12/31/2024 close $3.65): 202,553 options @ $2.63 ≈ $206,600 intrinsic value (202,553 × ($3.65–$2.63)) .
Employment Terms
- Status: At‑will employment for all NEOs other than the CEO .
- Severance/Change‑of‑Control: Proxy details severance terms for certain NEOs (CEO, COO, CTO); specific severance or change‑of‑control economics for Sundjaja are not disclosed .
- Insider Trading: Pre‑clearance required; trading permitted only in open windows; 10b5‑1 plans allowed subject to cooling‑off; hedging and pledging prohibited .
- Governance Policies: Executive share ownership guidelines and clawback policy in place .
Compensation Committee Analysis
- Committee Composition: Erez Shachar (Chair), Zvi Limon, Nechemia J. Peres; 6 meetings; operates under Board‑approved charter .
- Independent Consultant: Pearl Meyer advised on peer group benchmarking and design; Sundjaja’s 2024 salary increase aligned her compensation to peer median .
- Equity Program Direction: Committee evaluating introduction of performance‑based metrics for a portion of annual NEO equity grants going forward .
- Say‑on‑Pay: 2024 advisory vote received >87% support .
Investment Implications
- Pay‑for‑performance alignment is strong: STI tied 70% to Adjusted EBITDA and 30% to ex‑TAC gross profit with a disciplined payout (97%); 2024 discretionary award linked to Adjusted FCF/Share achievement (93%) reinforces cash discipline .
- Retention risk appears contained: ~507k unvested RSUs across 2022–2024 grants vesting quarterly over four years, plus OTM option exposure, incentivize continued service; no option exercises in 2024 and pledging is prohibited .
- Ownership alignment: Executive ownership guidelines (3× salary) with a phase‑in to 2026, anti‑hedging/pledging, and a no‑discretion clawback reduce governance risk; Sundjaja’s beneficial ownership <1% but rising via RSU vesting .
- Forward signal: Potential introduction of performance‑based equity could increase alignment with shareholder value drivers; monitor 2026+ equity mix and any changes to metrics or peer calibration .