Scott Totman
LendingTreeAbout Scott Totman
Scott Totman, age 54, is LendingTree’s Chief Technology Officer (CTO) since December 2020, previously leading product/engineering at OnDeck and DivvyCloud and senior digital product roles at Capital One . Company performance during his tenure has emphasized operating discipline: 2024 Adjusted EBITDA grew 33% to $104 million, Q4 2024 revenue was $262 million, and net leverage fell to 3.5x; executive bonus funding was tied to AEBITDA achievement and paid at 100% for 2024 based on $119 million pre-bonus AEBITDA . The most important metrics linking pay and performance are Stock Price, Adjusted EBITDA, and Revenue; 2024 pay-versus-performance shows the company’s $100 TSR index at $12.77 versus peer group $158.48, highlighting stock pressure despite operational gains .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| LendingTree | Chief Technology Officer | Dec 2020–present | Leads company technology strategy, product development and engineering . |
| OnDeck | Chief Product & Technology Officer | Jan–Nov 2020 | Oversaw product and technology at a fintech lender (acquired by Enova in Jul 2020) . |
| DivvyCloud | Head of Engineering & Product Development | Dec 2018–Jan 2020 | Led engineering/product at a cloud security company (acquired by Rapid7 in Apr 2020) . |
| Capital One | Managing VP, Digital Product Marketing (and other roles) | Oct 2012–Dec 2018 | Senior digital product leadership at a major financial services firm . |
External Roles
- Not disclosed in company filings for public boards or committee roles relevant to Totman .
Fixed Compensation
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Base Salary ($) | $395,192 | $400,000 | $420,000 (5% increase) |
| Target Bonus % of Salary | 60% (same as 2023 program) | 60% | 60% |
| Target Bonus ($) | $237,115 (60% of $395,192) | $240,000 (60% of $400,000) | $252,000 (60% of $420,000) |
| Actual Bonus Paid ($) | $0 (no NEO bonus for 2022) | $120,000 | $252,000 (100% payout) |
Performance Compensation
Annual Bonus (2024)
| Metric | Weighting | Target | Actual | Payout | Vesting/Payment Timing |
|---|---|---|---|---|---|
| Adjusted EBITDA (Pre-bonus) | 100% | $118,488,300 | $119,000,000 | 100% of target | Cash bonus paid in 2025 for 2024 performance |
Equity Awards – RSUs
| Grant Date | Type | Shares | Grant-Date Fair Value ($) | Vesting Schedule |
|---|---|---|---|---|
| 3/1/2024 | RSU | 15,000 | $599,700 | 1/3 annually starting 3/1/2025 (then 3/1/2026, 3/1/2027) |
| 3/8/2024 | RSU | 2,500 | $104,075 | 1/3 annually starting 3/8/2025, then 3/1/2026 and 3/1/2027 |
| 3/2/2023 | RSU | 12,500 | $412,500 | 50% at 1st anniversary; 25% at 2nd and 3rd anniversaries (3/2/2024, 3/2/2025) |
Equity Awards – Stock Options (historical)
| Option Grant | Exercisable/Unexercisable (#) | Exercise Price ($) | Expiration | Vesting |
|---|---|---|---|---|
| 12/3/2020 | 3,992 (exercisable) | 239.47 | 12/3/2030 | Per grant terms; options underwater at $38.75 YE price |
| 4/19/2021 | 5,278 (exercisable) | 218.31 | 4/19/2031 | Per grant terms; underwater at YE price |
| 3/2/2022 | 9,791 (exerc.), 4,896 (unexerc.) | 113.27 | 3/2/2032 | Vests in three equal installments from 3/2/2023 |
Notes:
- 2024 equity awards for NEOs were RSUs to maximize retention and align with shareholders via time-based vesting; CEO and President had PSU components, but Totman did not have PSUs in 2024 .
- As of 12/31/2024, options were materially underwater (closing price $38.75), reducing near-term exercise/sale pressure .
Equity Ownership & Alignment
| Ownership Metric | Value |
|---|---|
| Total Beneficial Ownership (shares) | 50,228 |
| Ownership as % of Shares Outstanding | <1% (13,535,034 shares outstanding) |
| Stock Ownership Guidelines | NEOs: 1.5x–3x base salary; CEO 6x salary |
| Hedging/Pledging | Hedging prohibited; pledging prohibited absent Legal approval |
| Vested vs Unvested (12/31/2024) | RSUs outstanding: 2,576; 6,250; 15,000; 2,500 with stated vest schedules |
| Options – Exercisable vs Unexercisable | Exercisable: 3,992; 5,278; 9,791; Unexercisable: 4,896 (at 113.27 strike) |
Employment Terms
- Executive Severance Plan participation: Outside CIC, cash severance $420,000, health benefits $13,200, equity vesting acceleration $446,904; Within 12 months of CIC, cash severance $1,596,000, health benefits $16,501, equity acceleration $1,020,133 .
- Restrictive covenants: Non-compete and customer non-solicitation for 24 months post-employment; employee non-solicitation 18 months; vendor/supplier non-solicitation 12 months; severance contingent on release and covenant compliance .
- Clawback: Dodd-Frank compliant compensation recovery policy adopted Oct 25, 2023, applies to erroneously awarded incentive comp over prior three fiscal years in the event of covered restatements .
- 8-K role transition: On Feb 26, 2025, Board and Totman agreed he will transition to guide AI initiatives in the Company’s AI Lab effective Mar 7, 2025; remains eligible under the Executive Severance Plan .
Performance & Track Record
- 2024 business performance: AEBITDA grew 33% to $104 million; Insurance segment revenue $549 million with $159 million segment profit; Consumer segment returned to growth in Q4; sequential revenue growth in Home segment .
- Pay-for-performance signals: Company funded 2024 bonus pool at 100%; most important performance measures: Stock Price, Adjusted EBITDA, Revenue; 2024 say-on-pay approval ~97% .
Compensation Peer Group & Say-on-Pay
- Peer groups: 2024 peer group (23 companies) and updated 2025 peer group (25 companies) used for benchmarking executive compensation competitiveness .
- Say-on-Pay results: 2023 approval ~86%; 2024 approval ~97%, indicating improved shareholder support for compensation design .
Expertise & Qualifications
- Education: MBA (Virginia Tech), MS Software Systems Engineering (George Mason University), BS Computer Science (William & Mary) .
- Technical/industry expertise: Senior leadership in fintech product and engineering; digital product marketing at a top-10 U.S. bank; multiple acquisitions context (OnDeck→Enova; DivvyCloud→Rapid7) .
Investment Implications
- Alignment: Totman’s compensation emphasizes time-vested RSUs with multi-year schedules, aligning retention and shareholder value creation; cash bonus fully tied to corporate AEBITDA with clear funding curve .
- Selling pressure: RSU tranches vest beginning March 2025 (3/1 and 3/8), potential incremental selling windows; options are deeply underwater at YE 2024 price, muting option-related selling pressure .
- Retention risk: Robust severance and restrictive covenants incentivize retention; his Mar 2025 AI Lab transition suggests continued strategic relevance rather than exit, but CIC severance multiples could be material in a sale scenario .
- Governance safeguards: Clawback, hedging/pledging prohibitions, and ownership guidelines reduce misalignment risks; high say-on-pay support indicates investor acceptance of pay design .
Key dates to watch: 3/1/2025 and 3/8/2025 RSU vest tranches; ongoing AEBITDA-driven bonus programs; any future disclosures on AI Lab performance objectives and potential PSU adoption.