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July Austin, Texas | | | By order of the Board of Directors | |
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| | | William G. Stone III | |
Chief Executive Officer | |
| | YOUR VOTE IS IMPORTANT | | |
| | All stockholders are invited to attend the Annual Meeting. Whether or not you expect to attend the Annual Meeting, please vote over the telephone or the internet as instructed in these materials, or, if you receive a paper proxy card by mail, by completing and returning the proxy card mailed to you, as promptly as possible in order to ensure your representation at the Annual Meeting. Even if you have voted by proxy, you may still attend the Annual Meeting. Please note, however, that if your shares are held of record by a broker, bank or other nominee and you wish to vote at the Annual Meeting, you must follow the instructions from you broker, bank or other nominee. | | |
NAME | | | AGE | | | POSITION | |
Robert Deutschman(1) | | 65 | | Chair of the Board & Nominee | | ||
Roy H. Chestnutt | | 62 | | | Current Director & Nominee | | |
| 59 | | | Current Director & Nominee | | ||
Mohan S. Gyani | | 71 | | | Current Director & Nominee | | |
| 48 | | | Current Director & Nominee | | ||
| 54 | | | Current Director & Nominee | | ||
Michelle Sterling(7) | | | 54 | | | Current Director & Nominee | |
William G. Stone III | | 54 | | | Chief Executive Officer, Current Director & Nominee | |
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THE BOARD OF DIRECTORS RECOMMENDS THAT STOCKHOLDERS VOTE “FOR” EACH OF THE DIRECTOR NOMINEES. | | |
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Audit Committee | | | Compensation and Human Capital Management Committee | | | Nominating and Corporate Governance | | |
Holly Hess Groos* | | | Jeffrey Karish* | | | Mohan S. Gyani* | | |
Roy H. Chestnutt | | | Mohan S. Gyani | | | Robert Deutschman | ||
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| Robert Deutschman | | |
Mollie V. Spilman | | | Michelle Sterling | |
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Michelle Sterling | | | | |
| Board Diversity Matrix (As of July 15, 2022) | | ||||||||||||
| Board Size: | | ||||||||||||
| Total Number of Directors | | | 8 | |
| | | Female | | | Male | | | Non-Binary | | | Did not Disclose Gender | | ||||||||||||
Part I: Gender Identity | | | | | | | | | | | | | | | | | | | | | | | | | |
Directors | | | | | 3 | | | | | | 5 | | | | | | — | | | | | | — | | |
Part II: Demographic Background | | | | | | | | | | | | | | | | | | | | | | | | | |
African American or Black | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Alaskan Native or Native American | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Asian | | | | | — | | | | | | 1 | | | | | | — | | | | | | — | | |
Hispanic or Latinx | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Native Hawaiian or Pacific Islander | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
White | | | | | 3 | | | | | | 4 | | | | | | — | | | | | | — | | |
Two or More Races or Ethnicities | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
LGBTQ+ | | | — | | |||||||||||||||||||||
Did Not Disclose Demographic Background | | | — | |
NAME | | | AGE | | | POSITION | |
Barrett Garrison | | 46 | | | Executive Vice President, Chief Financial Officer | ||
| 50 | | | President | | ||
Michael B. Miller | | | 47 | | | Chief Accounting Officer and Controller | |
NEO | | | FY 2021 Base Salary | | | Increase | | | FY 2022 Base Salary | | |||||||||
William Stone | | | | $ | 550,000 | | | | | $ | 25,000 | | | | | $ | 575,000 | | |
Barrett Garrison | | | | $ | 350,000 | | | | | $ | 15,000 | | | | | $ | 365,000 | | |
Matthew Gillis | | | | | — | | | | | | — | | | | | $ | 400,000 | | |
Michael Miller | | | | | — | | | | | | — | | | | | $ | 275,000 | | |
Christine Collins | | | | $ | 300,000 | | | | | | — | | | | | $ | 300,000 | | |
Performance measure | | | Performance Goals Relative TSR (Company compared to the S&P Software and Services Select Industry Index) | | | Relative TSR Multiplier | | |||||||||||||||||||||
| Threshold | | | Target | | | Stretch | | | Threshold | | | Target | | | Stretch | | |||||||||||
Relative TSR | | | 2+ CAGR percentage points above | | | 7+ CAGR percentage points above | | | 12+ CAGR percentage points above | | | | | 100% | | | | | | 110% | | | | | | 120% | | |
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July | | | Members of the Compensation Committee | ||
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| | | | Jeffrey Karish (Chair) Mohan S. Gyani Mollie V. Spilman Michelle Sterling | |
Position | | | Fiscal Year Ended March 31, | | | Salary ($) | | | Bonus ($) | | | Non-Equity Incentive Plan Compensation | | | Stock Awards ($)(1) | | | Option Awards ($)(1) | | | All Other Compensation ($)(2) | | | Total ($) | | ||||||||||||||||||||||||
William G. Stone III Chief Executive Officer | | | | | 2022 | | | | | | 575,000 | | | | | | 134,000 | | | | | | 514,000 | | | | | | 4,875,000 | | | | | | 1,625,000 | | | | | | 25,317 | | | | | | 7,748,317 | | |
| | | 2021 | | | | | | 550,000 | | | | | | 165,000 | | | | | | 572,200 | | | | | | 500,000 | | | | | | 485,294 | | | | | | 25,376 | | | | | | 2,297,870 | | | ||
| | | 2020 | | | | | | 550,000 | | | | | | 63,300 | | | | | | 237,800 | | | | | | 250,000 | | | | | | 330,924 | | | | | | 14,073 | | | | | | 1,446,097 | | | ||
Barrett Garrison Executive Vice President and Chief Financial Officer | | | | | 2022 | | | | | | 365,000 | | | | | | 64,000 | | | | | | 242,000 | | | | | | 1,500,000 | | | | | | 500,000 | | | | | | 25,562 | | | | | | 2,696,562 | | |
| | | 2021 | | | | | | 350,000 | | | | | | 70,000 | | | | | | 242,700 | | | | | | 200,000 | | | | | | 194,118 | | | | | | 24,273 | | | | | | 1,081,091 | | | ||
| | | 2020 | | | | | | 335,000 | | | | | | 38,600 | | | | | | 144,900 | | | | | | 162,500 | | | | | | 165,462 | | | | | | 13,071 | | | | | | 859,433 | | | ||
Michael B. Miller(3) Chief Accounting Officer | | | | | 2022 | | | | | | 275,000 | | | | | | 66,603 | | | | | | — | | | | | | — | | | | | | — | | | | | | 10,362 | | | | | | 351,965 | | |
Matthew Gillis(4) President | | | | | 2022 | | | | | | 400,000 | | | | | | 100,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | 6,190 | | | | | | 506,190 | | |
Christine Collins(5) Former Chief Technology Officer | | | | | 2022 | | | | | | 300,000 | | | | | | 150,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | 18,050 | | | | | | 468,050 | | |
| | | 2021 | | | | | | 300,000 | | | | | | 201,000 | | | | | | — | | | | | | — | | | | | | 246,000 | | | | | | 13,078 | | | | | | 760,078 | | | ||
| | | 2020 | | | | | | 300,000 | | | | | | 150,000 | | | | | | — | | | | | | — | | | | | | 228,438 | | | | | | 11,073 | | | | | | 689,511 | | |
Position(1) | Fiscal Year Ended March 31, | Salary ($) | Bonus ($) | Non-Equity Incentive Plan Compensation | Stock Awards ($) | Option Awards (2) ($) | All Other Compensation ($) | Total ($) | |||||||||||||||
William G. Stone III (3) Chief Executive Officer | 2019 | 500,000 | — | 222,700 | 250,000 | — | 7,893 | 980,593 | |||||||||||||||
2018 | 500,000 | 100,000 | 350,000 | — | — | 17,240 | 967,240 | ||||||||||||||||
2017 | 500,000 | 100,000 | — | — | 193,687 | 14,772 | 808,459 | ||||||||||||||||
Barrett Garrison (4) Executive Vice President and Chief Financial Officer | 2019 | 313,542 | — | 144,800 | 150,000 | — | 15,402 | 623,744 | |||||||||||||||
2018 | 300,000 | — | 210,000 | — | 66,090 | 20,381 | 596,471 | ||||||||||||||||
2017 | 167,115 | — | — | — | 497,420 | 21,895 | 686,430 | ||||||||||||||||
Christine Collins (5) Chief Technology Officer | 2019 | 275,000 | 125,000 | — | — | 100,448 | 10,673 | 511,121 | |||||||||||||||
2018 | 10,577 | — | — | — | 270,287 | 1,376 | 282,240 | ||||||||||||||||
David Wesch (6) Chief Accounting Officer | 2019 | 150,000 | 24,000 | — | — | 40,179 | 2,097 | 216,276 | |||||||||||||||
2018 | 150,000 | 30,000 | — | — | 33,045 | 4,807 | 217,852 | ||||||||||||||||
2017 | 142,500 | — | — | — | 59,354 | 4,957 | 206,811 | ||||||||||||||||
Name | | | Grant Date | | | Estimated future payouts under non-equity incentive plan awards | | | Estimated future payouts under equity incentive plan awards | | | All other stock awards: Number of shares of stock or units (#) | | | Option Awards: Number of Shares Underlying Options (#)(1) | | | Exercise Price of Option Awards ($/Share) | | | Grant date Fair Value of Stock & Option Awards ($)(1) | | ||||||||||||||||||||||||||||||||||||||||||
| Threshold ($) | | | Target ($) | | | Maximum ($) | | | Threshold (#) | | | Target (#) | | | Maximum (#) | | |||||||||||||||||||||||||||||||||||||||||||||||
William G. Stone III Chief Executive Officer | | | 6/1/2021 | | | | | 230,000 | | | | | | 460,000(7) | | | | | | 920,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| 6/1/2021 | | | | | — | | | | | | — | | | | | | — | | | | | | 12,000 | | | | | | 24,000(5) | | | | | | 48,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,625,000 | | | ||
| 6/1/2021 | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 48,000(6) | | | | | | — | | | | | | — | | | | | | 3,250,000 | | | ||
| 6/1/2021 | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 41,265(2) | | | | | | 67.71 | | | | | | 1,625,000 | | | ||
Barrett Garrison Executive Vice President and Chief Financial Officer | | | 6/1/2021 | | | | | 109,500 | | | | | | 219,000(7) | | | | | | 438,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| 6/1/2021 | | | | | — | | | | | | — | | | | | | — | | | | | | 3,692 | | | | | | 7,384(5) | | | | | | 14,768 | | | | | | — | | | | | | — | | | | | | — | | | | | | 500,000 | | | ||
| 6/1/2021 | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 14,769(6) | | | | | | — | | | | | | — | | | | | | 1,000,000 | | | ||
| 6/1/2021 | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 12,697(2) | | | | | | 67.71 | | | | | | 500,000 | | | ||
Christine Collins Former Chief Technology Officer | | | 4/14/2021 | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,063(3) | | | | | | 84.10 | | | | | | 150,000 | | |
Michael B. Miller Chief Accounting Officer | | | 8/23/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 16,802(4) | | | | | | 51.19 | | | | | | 497,675 | | |
Matthew Gillis President | | | 1/5/2022 | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 7,662(9) | | | | | | 55.71 | | | | | | 258,976 | | |
| 1/5/2022 | | | | | — | | | | | | ��� | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 22,438(8) | | | | | | — | | | | | | — | | | | | | 1,250,000 | | |
Name | Grant Date | Estimated future payouts under non-equity incentive plan awards | Estimated future payouts under equity incentive plan awards | All other stock awards: Number of shares of stock or units (#) | Option Awards: Number of Shares Underlying Options (#)(1) | Exercise Price of Option Awards ($/Share) | Grant date Fair Value of Stock & Option Awards ($)(1) | |||||||||||||||||||||
Threshold ($) | Target ($) | Maximum ($) | Threshold (#) | Target (#) | Maximum (#) | |||||||||||||||||||||||
William G. Stone III Chief Executive Officer | 6/7/2018 | 125,000 | 250,000 | 500,000 | — | — | — | — | — | — | — | |||||||||||||||||
6/10/2018 | — | — | — | 36,337 | 72,675 (4) | 145,349 | — | — | — | 125,000 | ||||||||||||||||||
6/10/2018 | — | — | — | — | — | — | 72,675 (5) | — | — | 125,000 | ||||||||||||||||||
Barrett Garrison Executive Vice President and Chief Financial Officer | 6/7/2018 | 81,250 | 162,500 | 325,000 | — | — | — | — | — | — | — | |||||||||||||||||
6/10/2018 | — | — | — | 21,803 | 43,605 (4) | 87,210 | — | — | — | 75,000 | ||||||||||||||||||
6/10/2018 | — | — | — | — | — | — | 43,605 (5) | — | — | 75,000 | ||||||||||||||||||
Christine Collins Chief Technology Officer | 6/7/2018 | — | — | — | — | — | — | — | 100,000 | 1.68 | 100,448 | |||||||||||||||||
David Wesch Chief Accounting Officer | 6/7/2018 | — | — | — | — | — | — | — | 40,000 | 1.68 | 40,179 | |||||||||||||||||
Name | | | Option Awards | | | Stock Awards | | |||||||||||||||||||||||||||||||||||||||||||||
| Grant Date | | | Number of Securities Underlying Unexercised Options (#) Exercisable | | | Number of Securities Underlying Unexercised Options (#) Unexercisable | | | Option Exercise Price ($) | | | Option Expiration Date | | | Number of shares or units of stock that have not vested (#) | | | Market value of shares or units of stock that have not vested(6) ($) | | | Equity incentive plan awards: number of unearned shares, units or other rights that have not vested | | | Equity incentive plan awards: market or payout value of unearned shares, units or other rights that have not vested(6) ($) | | ||||||||||||||||||||||||||
William G. Stone III(1) Chief Executive Officer | | | 6/1/2021 | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 48,000 | | | | | | 2,102,880 | | | | | | — | | | | | | — | | |
| 6/1/2021 | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 24,000 | | | | | | 1,051,440 | | | ||
| 6/1/2021 | | | | | — | | | | | | 41,265 | | | | | | 67.71 | | | | | | 6/1/2031 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| 6/1/2020 | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 15,735 | | | | | | 689,350 | | | | | | — | | | | | | — | | | ||
| 6/1/2020 | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 37,764 | | | | | | 1,654,441 | | | ||
| 6/1/2020 | | | | | 62,254 | | | | | | 80,061 | | | | | | 6.62 | | | | | | 6/1/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| 6/1/2019 | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,763 | | | | | | 121,047 | | | | | | — | | | | | | — | | | ||
| 6/1/2019 | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 33,156 | | | | | | 1,452,564 | | | ||
| 6/1/2019 | | | | | 137,486 | | | | | | 12,514 | | | | | | 3.77 | | | | | | 6/1/2029 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| 2/2/2017 | | | | | 247,500 | | | | | | — | | | | | | 0.71 | | | | | | 2/2/2027 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| 5/26/2016 | | | | | 100,000 | | | | | | — | | | | | | 1.06 | | | | | | 5/26/2026 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| 12/9/2015 | | | | | 175,000 | | | | | | — | | | | | | 1.43 | | | | | | 12/9/2025 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| 7/8/2014 | | | | | 200,000 | | | | | | — | | | | | | 4.11 | | | | | | 7/8/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| 11/25/2013 | | | | | 300,000 | | | | | | — | | | | | | 2.54 | | | | | | 11/25/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
Barrett Garrison(2) Executive Vice President and Chief Financial Officer | | | 6/1/2021 | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 14,769 | | | | | | 647,030 | | | | | | — | | | | | | — | | |
| 6/1/2021 | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 7,384 | | | | | | 323,493 | | | ||
| 6/1/2021 | | | | | — | | | | | | 12,697 | | | | | | 67.71 | | | | | | 6/1/2031 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| 6/1/2020 | | | | | — | | | | | | — | | | | | | ��� | | | | | | — | | | | | | 6,300 | | | | | | 276,003 | | | | | | — | | | | | | — | | | ||
| 6/1/2020 | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 15,106 | | | | | | 661,794 | | | ||
| 6/1/2020 | | | | | 33,204 | | | | | | 23,722 | | | | | | 6.62 | | | | | | 6/1/2030 | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
| 6/1/2019 | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,810 | | | | | | 79,296 | | | | | | — | | | | | | — | | | ||
| 6/1/2019 | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 21,552 | | | | | | 944,193 | | | ||
| 6/1/2019 | | | | | 68,701 | | | | | | 6,299 | | | | | | 3.77 | | | | | | 6/1/2029 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| 8/4/2017 | | | | | 100,000 | | | | | | — | | | | | | 1.09 | | | | | | 8/4/2027 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| 2/2/2017 | | | | | 135,000 | | | | | | — | | | | | | 0.71 | | | | | | 2/2/2027 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| 9/12/2016 | | | | | 450,000 | | | | | | — | | | | | | 1.37 | | | | | | 9/12/2026 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
Christine Collins(3) Former Chief Technology Officer | | | 4/14/2021 | | | | | 935 | | | | | | 2,128 | | | | | | 84.10 | | | | | | 4/14/2031 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| 4/17/2020 | | | | | 30,153 | | | | | | 60,288 | | | | | | 5.12 | | | | | | 4/17/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| 5/21/2019 | | | | | 94,418 | | | | | | 5,582 | | | | | | 3.88 | | | | | | 5/21/2029 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| 6/7/2018 | | | | | 40,000 | | | | | | — | | | | | | 1.68 | | | | | | 6/7/2028 | | | | | | — | | | �� | | | — | | | | | | — | | | | | | — | | | ||
| 3/19/2018 | | | | | 250,000 | | | | | | — | | | | | | 2.38 | | | | | | 3/19/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
Michael B. Miller(4) Chief Accounting Officer | | | 8/23/2021 | | | | | 3,262 | | | | | | 13,540 | | | | | | 51.19 | | | | | | 8/23/2031 | | | | | | | | | | | | | | | | | | | | | | | | | | |
Matthew Gillis(5) President | | | 1/5/2022 | | | | | — | | | | | | 7,662 | | | | | | 55.71 | | | | | | 1/5/2032 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| 1/5/2022 | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 26,257 | | | | | | 1,150,319 | | | | | | — | | | | | | — | | |
Option Awards | Stock Awards | |||||||||||||||||||||||||
Name | Grant Date | Number of Securities Underlying Unexercised Options (#) Exercisable | Number of Securities Underlying Unexercised Options (#) Unexercisable | Option Exercise Price ($) | Option Expiration Date | Number of shares or units of stock that have not vested (#) | Market value of shares or units of stock that have not vested ($) | Equity incentive plan awards: number of unearned shares, units or other rights that have not vested (#) | Equity incentive plan awards: market or payout value of unearned shares, units or other rights that have not vested ($) | |||||||||||||||||
William G. Stone III (1) Chief Executive Officer | 6/10/2018 | — | — | — | — | 72,675 | 125,000 | — | — | |||||||||||||||||
6/10/2018 | — | — | — | — | — | — | 72,675 | 125,000 | ||||||||||||||||||
2/2/2017 | 123,750 | 123,750 | 0.71 | 2/2/2027 | — | — | — | — | ||||||||||||||||||
5/26/2016 | 70,833 | 29,167 | 1.06 | 5/26/2026 | — | — | — | — | ||||||||||||||||||
12/9/2015 | 87,500 | 87,500 | 1.43 | 12/9/2025 | — | — | — | — | ||||||||||||||||||
9/10/2014 | 50,000 | — | 5.89 | 9/10/2024 | — | — | — | — | ||||||||||||||||||
7/8/2014 | 200,000 | — | 4.11 | 7/8/2024 | — | — | — | — | ||||||||||||||||||
11/25/2013 | 300,000 | — | 2.54 | 11/25/2023 | — | — | — | — | ||||||||||||||||||
Barrett Garrison (2) Executive Vice President and Chief Financial Officer | 6/10/2018 | — | — | — | — | 43,605 | 75,000 | — | — | |||||||||||||||||
6/10/2018 | — | — | — | — | — | — | 43,605 | 75,000 | ||||||||||||||||||
8/4/2017 | 52,542 | 47,548 | 1.09 | 8/4/2027 | — | — | — | — | ||||||||||||||||||
2/2/2017 | 67,500 | 67,500 | 0.71 | 2/2/2027 | — | — | — | — | ||||||||||||||||||
9/12/2016 | 375,000 | 75,000 | 1.37 | 9/12/2026 | — | — | — | — | ||||||||||||||||||
Christine Collins (3) Chief Technology Officer | 6/7/2018 | 25,000 | 75,000 | 1.68 | 6/7/2028 | — | — | — | — | |||||||||||||||||
3/19/2018 | 83,333 | 166,667 | 2.38 | 3/19/2028 | — | — | — | — | ||||||||||||||||||
David Wesch (4) Chief Accounting Officer | 6/7/2018 | 10,000 | 30,000 | 1.68 | 6/7/2028 | — | — | — | — | |||||||||||||||||
8/4/2017 | 26,271 | 23,729 | 1.09 | 8/4/2027 | — | — | — | — | ||||||||||||||||||
2/2/2017 | 18,338 | 18,337 | 0.71 | 2/2/2027 | — | — | — | — | ||||||||||||||||||
1/10/2017 | 14,440 | 5,556 | 0.70 | 1/10/2027 | — | — | — | — | ||||||||||||||||||
11/2/2016 | 19,444 | 5,560 | 0.65 | 11/2/2026 | — | — | — | — | ||||||||||||||||||
6/9/2016 | 27,500 | 2,500 | 1.04 | 6/9/2026 | — | — | — | — | ||||||||||||||||||
12/9/2015 | 6,125 | 6,125 | 1.43 | 12/9/2025 | — | — | — | — | ||||||||||||||||||
8/3/2015 | 10,000 | — | 2.56 | 8/3/2025 | — | — | — | — | ||||||||||||||||||
5/29/2015 | 25,000 | — | 4.18 | 5/29/2025 | — | — | — | — | ||||||||||||||||||
(1) During the fiscal year ended March 31, 2022, Mr. Stone was awarded RSUs for 48,000 shares of our common stock that vest over four years, with one-fourth of the RSUs vesting on the first |
| | | Option Awards | | | Stock Awards | | ||||||||||||||||||
Name | | | Number of Shares Acquired on Exercises (#) | | | Value Realized on Exercise ($)(1) | | | Number of Shares Acquired on Vesting (#) | | | Value Realized on Vesting ($)(2) | | ||||||||||||
William G. Stone III Chief Executive Officer | | | | | 50,000 | | | | | | 2,028,500 | | | | | | 185,535 | | | | | | 11,707,545 | | |
Barrett Garrison Executive Vice President and Chief Financial Officer | | | | | — | | | | | | — | | | | | | 107,258 | | | | | | 6,763,551 | | |
Christine Collins Former Chief Technology Officer | | | | | 100,000 | | | | | | 5,918,400 | | | | | | — | | | | | | — | | |
Michael B. Miller Chief Accounting Officer | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Matthew Gillis President | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Name | | | Base Salary ($)(1) | | | Annual Bonus ($)(2) | | | Health Plan Payments ($)(3) | | | Accelerated Vesting of Options(4)/ Restricted Stock(5) ($) | | ||||||||||||
William G. Stone III Chief Executive Officer | | | | | 575,000 | | | | | | 648,000 | | | | | | 18,026 | | | | | | 2,674,980 | | |
Barrett Garrison Executive Vice President, Chief Financial Officer | | | | | 365,000 | | | | | | 306,000 | | | | | | 15,912 | | | | | | 1,386,027 | | |
Matthew Gillis President | | | | | 400,000 | | | | | | 100,000 | | | | | | 19,425 | | | | | | — | | |
Name | Base Salary ($) (1) | Annual Bonus ($) (2) | Health Plan Payments ($) (3) | Accelerated Vesting of Options/Restricted Stock (4) (5) ($) | |||||||||
William G. Stone III Chief Executive Officer | 500,000 | 222,700 | 4,764 | 1,584,775 | |||||||||
Barrett Garrison Executive Vice President, Chief Financial Officer | 325,000 | 144,800 | 6,960 | 1,576,150 |
Name | | | Monthly Payment | | |||
William Stone | | | | $ | 1,502 | | |
Barrett Garrison | | | | $ | 1,326 | | |
Matthew Gillis | | | | $ | 1,619 | | |
Name | Base Salary ($) (1) | Annual Bonus ($) (2) | Health Plan Payments ($) (3) | Accelerated Vesting of Options/Restricted Stock (4) (5) ($) | |||||||||
William G. Stone III Chief Executive Officer | 750,000 | 222,700 | 7,146 | 1,626,442 | |||||||||
Barrett Garrison Executive Vice President, Chief Financial Officer | 487,500 | 144,800 | 10,440 | 1,601,150 | |||||||||
Christine Collins Chief Technology Officer | — | — | — | 282,778 | |||||||||
David Wesch Chief Accounting Officer | — | — | — | 531,431 | |||||||||
Name | | | Base Salary ($)(1) | | | Annual Bonus ($)(2) | | | Health Plan Payments ($)(3) | | | Accelerated Vesting of Options(4)(5)/ Restricted Stock(6) ($) | | ||||||||||||
William G. Stone III Chief Executive Officer | | | | | 862,500 | | | | | | 648,000 | | | | | | 27,038 | | | | | | 10,209,307 | | |
Barrett Garrison Executive Vice President, Chief Financial Officer | | | | | 547,500 | | | | | | 306,000 | | | | | | 23,868 | | | | | | 4,007,906 | | |
Christine Collins Former Chief Technology Officer | | | | | — | | | | | | — | | | | | | — | | | | | | 1,485,420 | | |
Michael B. Miller Chief Accounting Officer | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Matthew Gillis President | | | | | 600,000 | | | | | | 100,000 | | | | | | 29,137 | | | | | | 983,009 | | |
Name | | | Monthly Payment | | |||
William Stone | | | | $ | 1,502 | | |
Barrett Garrison | | | | $ | 1,326 | | |
Matthew Gillis | | | | $ | 1,619 | | |
Name | | | Fees Earned or Paid in Cash ($) | | | Stock Awards ($)(1) | | | Total ($) | | |||||||||
Robert Deutschman(2) | | | | | 84,750 | | | | | | 287,250 | | | | | | 372,000 | | |
Roy Chestnutt(3) | | | | | 55,000 | | | | | | 190,000 | | | | | | 245,000 | | |
Holly Hess Groos(4) | | | | | 42,319 | | | | | | 213,813 | | | | | | 255,502 | | |
Mohan S. Gyani(5) | | | | | 57,375 | | | | | | 192,500 | | | | | | 249,875 | | |
Jeffrey Karish(6) | | | | | 55,750 | | | | | | 192,000 | | | | | | 247,750 | | |
Mollie V. Spilman(7) | | | | | — | | | | | | 91,740 | | | | | | 91,740 | | |
Michelle Sterling(8) | | | | | 52,875 | | | | | | 190,250 | | | | | | 243,125 | | |
Name | Fees Earned or Paid in Cash ($) | Stock Awards ($) (1) | Total ($) | ||||||
Robert Deutschman (2) | 71,250 | 101,250 | 172,500 | ||||||
Christopher Rogers (3) | 46,875 | 66,875 | 113,750 | ||||||
Jeffrey Karish (4) | 43,750 | 63,750 | 107,500 | ||||||
Mohan S. Gyani (5) | 44,375 | 64,375 | 108,750 | ||||||
Paul Schaeffer (6) | 45,000 | 65,000 | 110,000 | ||||||
Roy Chestnutt (7) | 45,000 | 65,000 | 110,000 |
| | | Chair | | | Member | | ||||||
Annual retainers: | | | | ||||||||||
Board of Directors | | | | $ | 75,000 | | | | | $ | 50,000 | | |
Audit Committee | | | | $ | 20,000 | | | | | $ | 10,000 | | |
Compensation Committee | | | | $ | 11,500 | | | | | $ | 5,750 | | |
Nominating and Corporate Governance Committee | | | | $ | 9,000 | | | | | $ | 4,500 | | |
Annual equity grants: | | | | | | | | | | | | | |
Restricted stock value | | | | $ | 135,000 | | | | | $ | 90,000 | | |
| | | Chair | | | Member | | ||||||
Annual retainers: | | | | ||||||||||
Board of Directors | | | | $ | 75,000 | | | | | $ | 50,000 | | |
Audit Committee | | | | $ | 20,000 | | | | | $ | 10,000 | | |
Compensation Committee | | | | $ | 14,000 | | | | | $ | 6,000 | | |
Nominating and Corporate Governance Committee | | | | $ | 9,000 | | | | | $ | 4,500 | | |
Annual equity grants: | | | | | | | | | | | | | |
Restricted stock value | | | | $ | 275,000 | | | | | $ | 185,000 | | |
| Non-employee directors | | | 3x annual cash retainer | |
| CEO | | | 5x annual base salary | |
| COO | | | 2x annual base salary | |
| | | Common Stock | | |||||||||
Name and Address of Beneficial Owner(1) | | | Number of Shares(2) | | | Percentage of Class | | ||||||
Blackrock, Inc.(3) 55 East 52nd Street New York, NY 10055 | | | | | 9,973,448 | | | | | | 10.1% | | |
The Vanguard Group(4) 100 Vanguard Blvd. Malvern, PA 19355 | | | | | 8,734,824 | | | | | | 8.8% | | |
Wellington Management Group LLP(5) 280 Congress Street Boston, MA 02210 | | | | | 6,013,475 | | | | | | 6.1% | | |
Tennor Holding B.V.(6) Schiphol Boulevard 127, G4.08 1118 BG Schiphol, The Netherlands | | | | | 6,007,624 | | | | | | 6.1% | | |
William Stone III(7) | | | | | 2,370,027 | | | | | | 2.4% | | |
Barrett Garrison(8) | | | | | 1,171,733 | | | | | | 1.2% | | |
Robert Deutschman(9) | | | | | 588,812 | | | | | | * | | |
Mohan S. Gyani(10) | | | | | 451,949 | | | | | | * | | |
Christine Collins(11) | | | | | 409,646 | | | | | | * | | |
Jeffrey Karish | | | | | 311,616 | | | | | | * | | |
Roy H. Chestnutt | | | | | 108,541 | | | | | | * | | |
Michelle Sterling | | | | | 37,519 | | | | | | * | | |
Mollie V. Spilman | | | | | 2,022 | | | | | | * | | |
Michael B. Miller(12) | | | | | 12,584 | | | | | | * | | |
Matthew Gillis (13) | | | | | 48,695 | | | | | | * | | |
All Directors and Executive Officers as a Group (11 individuals) | | | | | 5,516,850 | | | | | | 5.5% | | |
Common Stock | |||||
Name and Address of Beneficial Owner (1) | Number of Shares (2) | Percentage of Class | |||
Bruce Grossman (3) c/o Dillon Hill Capital LLC 200 Business Park Drive, Suite 306 Armonk, NY 10504 | 6,276,427 | 7.6 | % | ||
Columbus Capital Management, L.L.C. (4) 350 California Street, 22nd Floor San Francisco, CA 94104 | 5,844,855 | 7.0 | % | ||
Venrock Management VI, LLC (5) 3340 Hillview Avenue Palo Alto, CA 94304 | 4,785,160 | 5.8 | % | ||
William Stone III | 1,880,242 | 2.2 | % | ||
Robert Deutschman | 861,045 | 1.0 | % | ||
Christopher Rogers | 338,161 | * | |||
Jeffrey Karish | 317,124 | * | |||
Mohan S. Gyani | 367,550 | * | |||
Roy H. Chestnutt | 66,763 | * | |||
Michelle Sterling | 1,446 | * | |||
Barrett Garrison | 753,749 | * | |||
Christine Collins | 166,667 | * | |||
David Wesch | 182,612 | * | |||
All Directors and Executive Officers as a Group (10 individuals) (6) | 4,935,359 | 5.8 | % |
Less than 1% (1) Except as otherwise indicated, the address of each of the persons listed above is c/o Digital Turbine, Inc., 110 San Antonio Street, Suite 160, Austin, TX 78701. (2) Pursuant to Item 403 of Regulation S-K, the number of shares listed for each individual reflects their beneficial ownership except as otherwise noted. For purposes of this table, a person or group of persons is |
| | | Year Ended March 31, 2022 | | | Year Ended March 31, 2021 | | ||||||
Audit fees(1) | | | | $ | 1,629,000 | | | | | $ | 1,427,500 | | |
Audit related fees | | | | | — | | | | | | — | | |
Tax fees | | | | | — | | | | | | — | | |
All other fees | | | | | — | | | | | | — | | |
Total | | | | $ | 1,629,000 | | | | | $ | 1,427,500 | | |
Year Ended March 31, 2019 | Year Ended March 31, 2018 | ||||||
Audit fees (1) | $ | 407,235 | $ | 423,199 | |||
Audit related fees (2) | 84,015 | 100,608 | |||||
Tax fees (3) | 55,062 | 39,350 | |||||
All other fees (4) | — | ||||||
Total | $ | 546,312 | $ | 563,157 |
| ||
| ||
THE BOARD OF DIRECTORS RECOMMENDS A VOTE “FOR” RATIFICATION OF THE APPOINTMENT OF | | |
| |||
July | | | Members of the Audit Committee |
| |||
| |||
| |||
| | Holly Hess Groos (Chair) Roy H. Chestnutt Robert Deutschman | |
BY ORDER | |