This summary highlights information contained elsewhere in this proxy statement.

Our highlights for fiscal 2021 include:2023:

Looking forward, we planour multi-faceted cloud business objectives include: (i) being a leader in enabling cloud-native applications; (ii) enabling portability of data services and applications across on-premise and cloud environments; (iii) delivering the full cloud operating model - on-premises or in and across public clouds; and (iv) leading the transition from disk to continue to (i) invest in product innovation and technology leadership and enhance our flash-optimized software and hardware portfolio, (ii) lead the market and expand our as-a-Service and subscriptions offerings, and (iii) grow our base of customers, including large customers, by promoting our platform, increasing our investment in sales and marketing and leveraging our network of channel partners.flash.

Our executive compensation policies and practices reinforce our “pay for performance” philosophy and ensure that compensation is meaningfully tied to the creation of long-term stockholder value. Listed below are highlights of our compensation policies and practices:

The chart below shows the pay components and mix offor our Chief Executive Officer and the components of Chief Executive Officer pay for fiscal 20212023 (based on the values reported in the Summary Compensation Table)base salary, target cash bonus and grant date fair value of equity award at target). This chart illustrates the predominance of at-risk and performance-based components in our executive compensation program. Our other executive officers have pay packages that are similarly weighted toward performance-based components. We believe these components provide a compensation package that helps attract and retain qualified individuals, focuses the efforts of our executive officers on the achievement of both our short-term and long-term objectives and aligns the interests of our executive officers with those of our stockholders.

Our board of directors currently consists of ten members. Our board is divided into the three classes with each class serving staggered three-year terms. At each annual meeting of stockholders, the successors to directors whose terms then expire will be elected to serve from the time of election until the third annual meeting following the election. Any directorships resulting from an increase in the number of directors will be distributed among the three classes so that, as nearly as possible, each class will consist of one-third of the directors.

Jeff Rothschild, Anita SandsAndrew Brown, John Colgrove and SusanRoxanne Taylor are currently directors of Pure and have been nominated to continue to serve as Class IIIII directors. Each of these nominees has agreed to stand for reelection at the meeting. Our management has no reason to believe that any nominee will be unable to serve. If elected at the meeting, each of these nominees would serve until the annual meeting of stockholders to be held in 20242026 and until his or her successor has been duly elected, or if sooner, until the director’s death, resignation or removal. Mark Garrett notified Pure of his intention to step down from Pure's board of directors by the end of calendar year 2021 in order to focus on other commitments.

Directors are elected by a plurality of the votes of the holders of shares present at the meeting or represented by proxy and entitled to vote on the election of directors. Accordingly, the three nominees receiving the highest number of affirmative votes will be elected. Shares represented by executed proxies will be voted, if authority to do so is not withheld, for the election of the three nominees named above. If any nominee becomes unavailable for election as a result of an unexpected occurrence, shares that would have been voted for that nominee will instead be voted for the election of a substitute nominee proposed by our nominating and corporate governance committee.

In evaluating candidates for our board, our nominating and corporate governance committee considers such factors as possessing relevant expertise to be able to offer advice and guidance to management, having sufficient time to devote to the affairs of the company, having the ability to read and understand basic financial statements, demonstrated commitment to the highest personal integrity and ethics, demonstrated excellence in his or her field, having the ability to exercise sound business judgment and having the commitment to rigorously represent the long-term interests of our stockholders. These qualifications may be modified from time to time. The committee also considers diversity, age, skills and such other factors as it deems appropriate, given the current needs of our board of directors and the company, to maintain aboard's overall balance of knowledge, experiencediversity in terms of perspectives, experiences and capability.backgrounds (including corporate backgrounds beyond the executive suite and non-corporate backgrounds), as well as factors commonly associated with diversity such as diversity of race, ethnicity, gender, age, sexual orientation, veteran status and disability status. The committee takes into account the current composition of our board of directors, the operating requirements of the company and the long-term interests of stockholders. To reflect our commitment to diversity, it is the policy of the board of directors that qualified diverse candidates (including race, ethnicity, gender and sexual orientation) shall be included in the pool from which director nominees are considered.

Below is a summary of the primary skills, experience and qualifications that our directors bring to our board of directors:

Our board of directors believes that rotation of directors is integral to an effective governance structure. Moreover, rotation brings diverse viewpoints and new perspectives, a variety of skills and professional experiences, which are important components of governance and promoting the long-term interests of stockholders. In identifying board candidates, our board of directors seeks candidates with diverse backgrounds and believes that a greater breadth of personal and professional experience improves the quality of decision making and enhances business performance.

We pride ourselves on our culture and our company values. We strive to embody these values in everything we do. Just as important are our underlying common principles of Integrity, Honesty and Respect for Others—these truly define us and are at the heart of our code of conduct, which applies to all of our directors, officers and employees. Our code of conduct goes beyond merely fulfilling legal requirements—at Pure, conduct counts.

All of our employees are required to complete training courses on our code of conduct and acknowledge and certify compliance with our code of conduct and other key policies on an annual basis. In addition, we conduct mandatory trainings to address compliance risks associated with specific roles in our company. We also maintain an ethics hotline where employees and third-parties can anonymously report any concerns about possible violations of our code. We thoroughly investigate any information we receive through the hotline or otherwise and take appropriate remedial action when necessary. Conduct counts for our business partners as well. We conduct due diligence on new partners and vendors to

In fiscal 2023, we continued quantifying our greenhouse gas (GHG) emissions across scope 1, 2, and 3 and made a commitment to set Science Based Targets (SBTi). We completed a Life Cycle Analysis (LCA) assessment, in accordance with ISO 14040 and 14044 and continue to identify opportunities to reduce carbon and ensure a sustainable environment is at the core of what we do and is evident from our efficient products to our efforts to eliminate waste and to compost and recycle in our offices.

In addition, Pure Good has donated over $100,000made the following commitments to One Tree Planted overcontinue to improve our carbon footprint and address the past yearissue of climate change:

Stockholders or interested parties who wish to communicate with our board of directors or with an individual director may do so by mail to our board of directors or the individual director, care of our Secretary at 650 Castro Street, Suite 400, Mountain View, California 94041. The communication should indicate that it contains a stockholder or interested party communication. All such communicationCommunications addressed to our board or individual members of our board will be forwardedscreened for appropriateness before forwarding to the director or directors to whom the communication is addressed. Communications that are unrelated to the duties and responsibilities of the board and its committees, such as mass mailings, inquiries regarding routine operational matters, employment inquiries and surveys may not be forwarded. If no particular director is named, lettersappropriate correspondence will be forwarded, depending upon the subject matter, to the Chair of the audit, compensation, or nominating and corporate governance committee, as applicable.

Mr. Giancarlo serves as Chairman of our board of directors and Dr. Dietzen serves as Vice Chairman of our board of directors. Our board of directors does not have a lead independent director. Our board of directors believes that the current board leadership structure, with strong internal knowledge and relationships, coupled with a strongan emphasis on board independence, provides effective independent oversight of management while allowing the board and management to benefit from the extensive executive leadership and operational experience of Mr. Giancarlo and Dr. Dietzen. Independent directors and management sometimes have different yet beneficial perspectives and roles in effective governance and strategy development. Our independent directors bring experience, oversight and expertise from outside of our company, while Dr. Dietzen and Mr. Giancarlo bring company-specific experience and expertise.

Our board of directors has undertaken a review of its composition, the composition of its committees and the independence of each director. Our board of directors has determined that Dr. Sands, Mses. S. Taylor, and R. Taylor and Yen, and Messrs. Brown, Garrett,Murphy, Rothschild and Tomb do not have any relationships that would interfere with the exercise of independent judgment in carrying out the responsibilities of a director and that each of these directors is “independent” as that term is defined under the applicable rules and regulations of the SEC and the listing requirements and rules of the NYSE. Dr. Dietzen and Messrs. Colgrove and Giancarlo are not independent due to their status as our current or former executive officers.

Accordingly, a majority of our directors are independent, as required under applicable NYSE rules. In making this determination, our board of directors considered the current and prior relationships that each non-employee director has with our company and all other facts and circumstances our board of directors deemed relevant in determining their independence.

In order to promote open discussion among non-management directors, and as required under applicable NYSE rules, our board of directors has a policy of conducting executive sessions of non-management directors during each regularly scheduled board meeting and at such other times ifas may be requested by a non-management director. The non-management directors provide feedback to executive management, as needed, promptly after the executive session. Neither Mr. Giancarlo nor Mr. Colgrove participates in such sessions. In addition, we hold executive sessions including only independent directors at least once a year. The presiding director at each executive session is chosen by the directors present at that meeting.

We are committed to maintain a set of robust corporate governance practices, as well as the continuous improvement of those practices, in order to maintain and enhance independent oversight and align our governance with our strategic objectives. These practices include the following:

Our board of directors is responsible for the oversight of management and the strategy of our company and for establishing corporate policies. Our board of directors meets periodically during the year to review significant developments affecting us and to act on matters requiring the approval of our board of directors. Our board of directors met four5 times during our last fiscal year. During our last fiscal year, each director attended 75% or more of the aggregate of the meetings of our board of directors and of the committees on which he or she served.

Our nominating and corporate governance committee oversees the board evaluation process. For fiscal 2021,We conducted a written board evaluation, and our chief legal officer interviewed all of our directors and members of the executive team to gather feedback on directors, committees and our board of directors in general. Directors responded to questions designed to elicit information to be used in improving the effectiveness of our board of directors. Our chief legal officer synthesized the results and comments received during such interviews. At subsequent meetings, Dr. Sands, in conjunction with our chief legal officer,interviews, presented the findings to the nominating and corporateour governance committee and our board of directors.directors, and led a discussion about board and committee performance and effectiveness.

We encourage directors to participate in continuing education programs focused on our business and industry, committee roles and responsibilities and legal and ethical responsibilities of directors, and we will reimburse directors for their expenses associated with this participation. We provide a corporate membership to a leading association for corporate directors, as a third-party informational and training resource for our directors relating to governance best practices. We also encourage our directors to attend company events such as our annual company kick-off event and our user conference.

The following is a summary of transactions since the beginning of our last fiscal year to which we have been a participant, in which the amount involved exceeded or will exceed $120,000 and in which any of our directors, executive officers or holders of more than 5% of our capital stock, or any member of the immediate family of the foregoing persons, had or will have a direct or indirect material interest.

Our amended and restated certificate of incorporation contains provisions limiting the liability of directors, and our amended and restated bylaws provides that we will indemnify each of our directors and officers to the fullest extent permitted under Delaware law. Our certificate of incorporation and bylaws also provides our board of directors with discretion to indemnify our employees and other agents when determined appropriate by the board of directors. In addition, we have entered into an indemnification agreement with each of our directors and executive officers, which requires us to indemnify them.

We have adopted a written policy that our executive officers, directors, holders of more than 5% of any class of our voting securities, and any member of the immediate family of and any entity affiliated with any of the foregoing persons, will not be permitted to enter into a related-party transaction with us without the prior consent of our audit committee, or other independent members of our board of directors in the event it is inappropriate for our audit committee to review such transaction due to a conflict of interest. Any request for us to enter into a transaction with an executive officer, director, principal stockholder or any of their immediate family members or affiliates, in which the amount involved exceeds $120,000 must first be presented to our audit committee for review, consideration and approval. No such request has been submitted to our audit committee since the beginning of our last fiscal year. In approving or rejecting any such proposal, our audit committee will consider the relevant facts and circumstances available and deemed relevant to our audit committee, including whether the transaction will be on terms no less favorable than terms generally available to an unaffiliated third party under the same or similar circumstances and the extent of the related party’s interest in the transaction.

Our non-employee director compensation program is designed to attract, retain and reward qualified non-employee directors and align the financial interests of the non-employeethese directors with thosethe interests of our stockholders. Pursuant to this program, each member of our board of directors who is not our employee receives the cash and equity compensation for board service as described below. We also reimburse our non-employee directors for reasonable out-of-pocket expenses incurred in connection with attending board of directors and committee meetings.

During fiscal 2021,2023, eligible directors were entitled to receive cash compensation, paid quarterly in arrears, as follows:

The following table provides information regarding the total compensation paid to our non-employee directors in fiscal 2021.2023. The table excludes Messrs. Colgrove and Giancarlo, who wereare also our executive officers during all of fiscal 2021 and did not receive any compensation in their roles as directors in fiscal 2021.2023.

As of January 31, 2021,February 5, 2023, each individual who served as a non-employee director during fiscal 20212023 held the following aggregate number of shares subject to outstanding RSU awards or options.awards.

Our board of directors is submitting this selection as a matter of good corporate governance and because we value our stockholders’ views on our independent registered public accounting firm. Neither our bylaws nor other governing documents or law require stockholder ratification of the selection of our independent registered public accounting firm. If the stockholders fail to ratify this selection, our board of directors will reconsider whether or not to retain that firm. Even if the selection is ratified, our board of directors may direct the appointment of different independent auditors at any time during the year if they determine that such a change would be in the best interests of the company and its stockholders.

An affirmative vote from the holders of a majority in voting power of the shares present at the meeting or represented by proxy and entitled to vote on the proposal will be required to ratify the selection of Deloitte & Touche.

The following table provides the aggregate fees for services provided by Deloitte & Touche for the fiscal years ended January 31, 2021February 6, 2022 and February 2, 2020.5, 2023.

Consistent with the requirements of the SEC and the Public Company Accounting Oversight Board regarding auditor independence, the audit committee has the responsibility for appointing, setting compensation, and overseeing the work of our independent registered public accounting firm. In recognition of this responsibility, the audit committee has a practice of, and has adopted a policy and procedures for, the pre-approval of audit and non-audit services rendered by our independent registered public accounting firm, Deloitte & Touche. The audit committee generally pre-approves specified services in the defined categories of audit services, audit-related services and tax services up to specified amounts. Pre-approval may also be given as part of the audit committee’s approval of the scope of the engagement of the independent auditor or on an individual, explicit, case-by-case basis before the independent auditor is engaged to provide each service. The pre-approval of services may be delegated to one or more of the audit committee’s members, but the decision must be reported to the full audit committee at its next scheduled meeting.

All of the services provided by Deloitte & Touche for our fiscal years ended January 31, 2021February 5, 2023 and February 2, 2020,6, 2022, as described in the “Principal Accountant Fees and Services” table, above, were pre-approved by the audit committee or our board of directors. Our audit committee has determined that the rendering of services other than audit services by Deloitte & Touche is compatible with maintaining the principal accountant’s independence.

We are seeking approval, on an advisory basis, of the compensation of our named executive officers for the fiscal year ended January 31, 2021,February 5, 2023, as described in this proxy statement below in the sections titled “Compensation Discussion and Analysis” and “Executive Compensation.” This vote is not intended to address any specific item of compensation and is rather intended to address the overall compensation of our named executive officers and the policies and practices as described in this proxy statement.

Our compensation programs are overseen by our compensation committee and reflect our general compensation philosophy for all employees, including our executive officers. Our executive compensation program is designed to attract, motivate, reward and retain highly qualified executives and motivate them to pursue our corporate objectives while encouraging the creation of long-term value for our stockholders. We evaluate and reward our executive officers through compensation intended to motivate them to identify and capitalize on opportunities to grow our business and maximize stockholder value over time.

We strive to provide an executive compensation program that is market competitive rewards achievement of our business objectives and is designed to both provide a foundation of fixed compensation (base salary) and a significant portion of performance-based compensation (short-term and long-term incentives) that are intended to align the interests of our executive officers with those of our stockholders. COVID-19 significantly impacted ourOur compensation committee maintains an executive compensation program for fiscal 2021. Our compensation committee designed our executive compensation program with a focus on incentivizing company performanceto incentivize revenue growth, profitability and customer satisfaction, as well as to drive an increase in the face of uncertain market dynamics and driving the key priorities to allow the company to emerge stronger following the COVID-19 pandemic. The committee aimed to tie the majority of our named executive officers’ compensation to key performance measures appropriate for the COVID-19 economic environment.subscription services revenue.

This vote is advisory and therefore not binding on the company or on our board of directors. Our board of directors and its committees value the opinions of our stockholders and to the extent there is any significant vote against the executive compensation described in this proxy statement, our compensation committee will consider the impact of such vote on our compensation policies and decisions. Our stockholders have previously recommended, and our Board has approved, a frequency of each year for advisory votes on executive compensation. While we are asking our stockholders to provide a recommendation regarding the frequency of such votes at the meeting this year, our board of directors is still recommending that such votes be held every year. Accordingly, we expect to hold the next scheduled Say-on-Pay vote will be at our 20222024 Annual Meeting of Stockholders.

An affirmative vote from holders of a majority in voting power of the shares present at the meeting or represented by proxy and entitled to vote on the proposal will be required to approve the compensation of our named executive officers for the fiscal year ended January 31, 2021.February 5, 2023.

The compensation committee has reviewed and discussed the Compensation Discussion and Analysis required by Item 402(b) of Regulation S-K with management and, based on such review and discussions, the compensation committee recommended to the Pure board of directors that the section titled "Compensation Discussion and Analysis" be incorporated by reference in Pure's Annual Report on Form 10-K for fiscal 20212023 and included in this proxy statement.

This Compensation Discussion and Analysis provides an overview of the material elements of our executive compensation program during fiscal 20212023 for our “named executive officers,” whose compensation is set forth in the Summary Compensation Table and other compensation tables contained in this proxy statement. This section discusses our executive compensation philosophy, objectives and design; how and why our compensation committee arrived at the specific compensation policies and decisions duringrelating to fiscal 2021, specifically in the face of market uncertainty and shifting priorities driven by the COVID-19 pandemic;2023; the role of our compensation committee’s compensation consultant; and the compensation peer group used in evaluating our executive compensation program. This section also discusses the executive compensation-setting process in the first half of fiscal 2021, as well as an executive transition in late fiscal 20212023 and final payout determinations following the end of fiscal 2021.2023.

Our compensation committee designed our executive compensation program with a focus on incentivizing company performance in the face of uncertain market dynamics and driving the key priorities to allow the company to emerge stronger following the COVID-19 pandemic. The committee aimed to tie the majority of our named executive officers’ compensation to these key performance measures, appropriate foras well as share price through the COVID-19 economic environment.use of equity awards. Specifically, in addition to a base salary, our named executive officers’ target total direct compensation included annual short-term and long-term incentives that are based on our attainment of key business objectives. For fiscal 2021,2023, our cash bonuses were dependent on both a third-party certified customer satisfaction measurerevenue, profitability and a metric designed to measure Pure’s revenue growth relative to the storage revenue growth of three major competitors, which we will call a “relative growth metric.” OurNPS, as well as individual executive goals, and our 100% performance-based equity awards were dependentearned based on a combination of revenue and subscription ARR growth. The value of these equity awards fundamentally depends on Pure's share price. The structure of our relative growth metric. These performance measures were selected to addresscorporate bonus program is the uncertainty ofsame for our executive officers and our broad-based employee bonus participants, driving focus on the COVID-19 environment, and in each case, our compensation committee reserved flexibility to evaluate additional factors that it deemed critical for the company’s short-term and long-term success.same company priorities.

In fiscal 2021, we faced significant headwinds due to the COVID-19 pandemic’s impact on economic conditions globally. While we started our year in February 2020 with expectations that Pure’s revenue would grow by double digits, COVID-19 had an unprecedentedWe achieved impressive business and initially inestimable effect on our customers and our industry as a whole. By the end of March 2020, we had closed our offices and discontinued in-person internal and external events as the result of the COVID-19 pandemic. By May 2020, we had withdrawn our annual guidance due to the global economic contraction and uncertainty.

In fiscal 2021,2023, the key highlights of our executive compensation program included:

Mr. Giancarlo's actual pay was 2% below his target pay. This demonstrates the impact ofOur “pay for performance” design works. In fiscal 2023, we delivered revenue of $2.75 billion, growing 26% year-over-year, exceeding our 20% growth target, and non-GAAP operating profit was $457 million, exceeding our $305 million target. We increased our subscription ARR from $849 million to $1.1 billion, up 30% year-over-year, and maintained a high NPS of 81.4, the exercisehighest in our industry. We also held each executive officer accountable with individual performance objectives. Our executive officers delivered results in fiscal 2023 that exceeded the financial targets we set at the start of the committee’s COVID-19 related discretionyear, and individual performance factors for fiscal 2021. Mr. Giancarlo'saccordingly they received actual pay above target pay, was calculated using his base salary, target cash bonus,evidencing that our financial incentives are aligning the pay of our executives with the company’s success and the grant date fair value of his equity award at target for fiscal 2021, and his actual pay was calculated using his base salary, his actual cash bonus payout, and 96% of the grant date fair value of his equity award for fiscal 2021. On the whole, our executive officers received payouts 1-2% below their fiscal 2021 target pay.stockholders' best interests.

Our named executive officers for fiscal 20212023 are:

In November 2020,December 2022, our board of directors designated Dan FitzSimons as an officer under Rule 16a-1(f) of the Exchange Act and as an executive officer under Rule 3b-7 of the Exchange Act. Mr. Mountford,FitzSimons has served as our Chief OperatingRevenue Officer stepped downsince November 2021. He previously served in various sales leadership roles at Pure from May 2015 to November 2021. His compensation is described throughout this section, including compensation decisions made prior to his role. He left Puredesignation as an employee atexecutive officer. We believe that our ability to offer competitive compensation enables us to hire and retain the end of fiscal 2021 and then continued to provide transitional consulting services through March 20, 2021.most qualified candidates for these important leadership roles.

We design our executive compensation program to achieve the following objectives, consistent with our “pay for performance” philosophy:

We believe that our executive compensation program should include short-term and long-term elements and reward consistent performance that meets or exceeds expectations. We evaluate both performance and compensation to ensure that the compensation provided to our executive officers remains competitive relative to the compensation paid by similar companies operating in the technology industry, in particular comparable software and hardware companies, taking into account the role and performance of the individual executive officer and the performance and strategic objectives of the company.

The compensation arrangements for our executive officers consist of base salary, annual performance-based cash bonuses, performance-based equity awards, and broad-based employee benefit programs.

Our cash bonuses are funded based on annual corporate performance metrics, though our compensation committee reserves the right to apply discretion to increaseand may be increased or decrease a payoutdecreased based on the individual performance of an executive officer against organization-specific goals during the applicable year. As an example, in a prior fiscal year, each of our executive officers was paid 69.8% of their target cash bonus based on corporate performance. We believe that these cash awards incentivize our executive officers to meet our short-term corporate objectives.

While we offer competitive cash compensation, equity compensation is the primary incentive element of our executive compensation program. We emphasize the use of equity compensation to encourage our executive officers to focus on the growth of our overall enterprise value and, correspondingly, to createwhich in turn creates value for our stockholders. For the last threefew years, we have used full value performance-based equity awards that may only be earned upon the achievement of company performance objectives. 100% of the annual equity awards granted to our executive officers are dependent on our corporate performance. As an example, in a prior fiscal year, eachperformance and any amount earned upon the achievement of our executive officers had their equity award reducedcompany performance objectives is also subject to 82.5% of target shares based on corporate performance.time-based vesting requirements. We believe that these equity awards align the interests of our executive officers with our stockholders and drive a longer-term focus through a multi-year vesting schedule.

The impact of COVID-19 was a significant consideration as our compensation committee set the corporate performance metrics and individual performance factors of our fiscal 2021 executive compensation program. Our compensation committee reviews our executive compensation program throughout the year. As part of this review process, the committee applies the objectives described above within the context of our overall philosophy while simultaneously considering the compensation levels needed to ensure that our program remains competitive. The committee also evaluates whether we are meeting our retention objectives and the potential cost of replacing key executive officers.

Our compensation committee is responsible for reviewing, evaluating and approving the compensation arrangements of our executive officers and for establishing and maintaining our executive compensation policies and practices. The committee seeks input and receives recommendations from members of our executive team when discussing the performance and compensation of executive officers and in evaluating the financial and accounting implications of our compensation programs and hiring decisions. The committee is authorized to engage, and has engaged, its own advisor to provide advice on matters related to executive compensation and general compensation programs. For additional information on our compensation committee, see “Board Structure and Process—Board Committees” elsewhere in this proxy statement.

Our Chief Executive OfficerCEO and Chief PeopleHuman Resources Officer assist our compensation committee in evaluating the performance of our executive officers (other than their own performance) and make recommendations to the committee with respect to base salary adjustments, target cash bonus opportunities, actual bonus payments and equity awards for each executive officer.officer, other than for our CEO. While the committee takes these recommendations into consideration, it exercises its own independent judgment in approving the compensation of our executive officers.

Compensia does not provide any additionalPure’s management also engaged with Aon plc and its affiliate for various insurance-related products and services and purchased compensation surveys and reports from Aon Radford as part of non-executive compensation practices for general survey data. Our compensation committee was aware of the nature and volume of the services performed by Aon affiliates and the compensation surveys and reports provided by Aon Radford collectively. In fiscal 2023, Meridian provided services to us other than the services it provides regardingrelating to our executive and director compensation program. Compensia maintains a conflict of interest policy that isprograms. Our compensation consultants maintain internal policies specifically designed to prevent any conflicts of interest. In addition, theThe committee assessed Compensia’sthe independence of Aon Radford and Meridian, taking into account, among other things, the factors set forth in Exchange Act rules and NYSE listing standards and concluded that no conflict of interest has arisen with respect to the work Compensia performsthese consultants perform for the committee.

Our compensation committee generally refers to peer group data when reviewing our executive officers’ compensation. This compensation peer group is intended to reflect companies with similar revenues, significant revenue growth, headcount and mid-levelcomparable market capitalization, in the following sectors: applications software, systems software, internet software and services or information technology.

In preparation for fiscal 2021,2023, our compensation committee, in consultation with Compensia,Aon Radford, evaluated our compensation peer group and made adjustments, removing companies that were deemed less relevant or had been acquired during the previous 12 monthsyear and adding other more relevant technology companies of comparable size with which we may compete for talent. This peer group wasThe committee generally selected based ona group of peer companies that, at the time of evaluation, had annual revenue between $500$750 million and $3.0$5.5 billion, as well as market capitalizations generally between two to eight times annual revenue. We alsoThe committee generally sought to includeselected companies with double digitstrong annual revenue growth. Wegrowth, and it continued to retain some companies with substantially higher market capitalizations, in our peer group, as our compensationthe committee believesbelieved that these companies alignaligned well with ourPure's underlying business fundamentals.

Our compensation peer group for fiscal 20212023 consisted of the following companies:

Our compensation committee considers the compensation levels of the executives at the companies in our compensation peer group to provide general guidance and a reference for market practices, without rigidly setting compensation based on specific percentiles relative to the peer group.

Our executive compensation program consists of three principal elements:

The following charts show the pay mix for our Chief Executive OfficerCEO and, on average, Messrs. Krysler, Colgrove, Singh and ColgroveFitzSimons (based on base salary, target cash bonus and the values reported in the Summary Compensation Table)grant date fair value of equity awards at target):