stock units. Also, Mr. Henshall was granted 18,696 performance-based restricted stock units on April 6, 2020, which are described under the heading Retention performance-based awards
granted to align with accelerated transformation beginning on page 57.
Our Board of Directors approved Mr. Henshalls 2020 compensation package,
including his equity awards as described above, upon the recommendation of the Compensation Committee.
Other
Named Executive Officers cash compensation base salary and variable cash compensation
Executive Vice President and
Chief Financial Officer
As Chief Financial Officer, Mr. Shenkman is responsible for all of our financial and capital management strategies, budgeting
and planning, financial accounting, tax and treasury, and investor relations, as well as our strategic alliances and mergers and acquisitions functions.
Mr. Shenkmans annual base salary was set at $575,000, and he received base salary compensation of $575,000 in 2020. Mr. Shenkmans 2020 target
variable cash compensation award as a percentage of base salary was set at 100% of his base salary, consistent with the rate in effect at the end of 2019. For 2020, Mr. Shenkman was awarded variable cash compensation of $926,670 in accordance
with our 2020 executive variable cash compensation plan.
In connection with joining our company, Mr. Shenkman was awarded a
sign-on bonus of $500,000 to be paid 180 days following the commencement of his employment as Executive Vice President and Chief Financial Officer. The sign-on bonus was
paid on March 13, 2020.
In March 2020, the Compensation Committee approved a $15,000 per month stipend to cover Mr. Shenkmans housing, commuting
and other related costs associated with traveling to our headquarters in Florida. For 2020, Mr. Shenkman received $15,000 per month from January to April, and then such stipend was reduced to $13,300 for May through August, and then it was
suspended for the remainder of the year as a result of the reduced traveling costs associated with the COVID-19 pandemic. For 2020, Mr. Shenkman received monthly stipends totaling $113,200.
Executive Vice President, Chief Legal Officer and Secretary
As
our Executive Vice President, Chief Legal Officer and Secretary, Mr. Gomes is responsible for leading a multidisciplinary team and oversees our global legal, compliance, digital risk, and internal audit functions to advance our objectives while
managing risk.
For 2020, Mr. Gomes annual base salary was $500,000. As a result, Mr. Gomes received base salary compensation of $500,000 in 2020.
For 2020, Mr. Gomes target variable cash compensation opportunity was 90% of his base salary, consistent with the rate in effect at the end of 2019. For 2020, Mr. Gomes was awarded variable cash compensation of $725,220 in accordance
with our 2020 executive variable cash compensation plan.
Executive Vice President and Chief Product Officer
As Executive Vice President and Chief Product Officer, Mr. Hough was responsible for providing direction for the companys current and future technology,
including driving product alignment, innovation and growth across our product portfolio. Effective December 1, 2020, Mr. Hough transitioned his role from the
day-to-day operations of the product function to an externally-focused product strategy role. In this capacity, he continues to drive the companys product strategy
with a focus on working with our strategic customers and expanding key technology partnerships of the company.
Effective April 1, 2020, Mr. Houghs
annual base salary was increased from $500,000 to $513,000. As a result, Mr. Hough received base salary compensation of $509,750 in 2020. Mr. Houghs target variable cash compensation award as a percentage of base salary was set at
90% of his base salary, consistent with the rate in effect at the end of 2019. For 2020, Mr. Hough was awarded variable cash compensation of $739,388, in accordance with our 2020 executive variable cash compensation plan.