Fiscal year 2023 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
Each company listed discloses INST in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named INST in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Peter Walker | $59,375 | $26,301 | $7,536,731 | $0 | $33,794 | $0 | $34,256 | $7,690,457 |
| Chief Financial Officer | ||||||||
| Steve Daly | 482,813 | 0 | 5,651,951 | 0 | 263,291 | 0 | 2,500 | 6,400,555 |
| Chris Ball | 386,111 | 0 | 5,138,145 | 0 | 158,298 | 0 | 2,500 | 5,685,054 |
| President and Chief Operating Officer | ||||||||
| Dale Bowen | 320,789 | 0 | 2,569,059 | 0 | 0 | 0 | 890,169 | 3,780,017 |
| Former CFO | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
| Named executive officer | FY2023 total | FY2022 total | FY2021 total | Δ FY2022→2023 |
|---|---|---|---|---|
| Peter Walker | $7,690,457 | — | — | — |
| Steve Daly | 6,400,555 | 4,432,093 | 5,604,570 | +1,968,462 |
| Chris Ball | 5,685,054 | — | — | — |
| Dale Bowen | 3,780,017 | — | 1,829,350 | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
No insider equity transactions reported since the proxy statement.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Chris Ball | RSU | 2023-01-24 | — | — | 194,553 | — | $5,138,145 |
| Steve Daly | RSU | 2023-01-24 | — | — | 214,008 | — | 5,651,951 |
| Peter Walker | RSU | 2023-11-13 | — | — | 305,998 | — | 7,536,731 |
| Dale Bowen | RSU | 2023-01-24 | — | — | 97,276 | — | 2,569,059 |
| Matthew A. Kaminer | RSU | 2023-01-24 | — | — | 68,599 | — | 1,811,700 |
| Mitch Benson | RSU | 2023-01-24 | — | — | 71,012 | — | 1,875,427 |
| Matthew A. Kaminer | RSU | 2022-01-23 | — | — | 57,061 | — | 1,205,128 |
| Steve Daly | RSU | 2022-01-23 | — | — | 171,184 | — | 3,615,406 |
| Frank Maylett | RSU | 2022-01-23 | — | — | 76,082 | — | 1,606,852 |
| Mitch Benson | RSU | 2022-01-23 | — | — | 71,327 | — | 1,506,426 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Chris Ball | $5,138,145 | $0 | $0 | 0.0% |
| Steve Daly | 9,267,357 | 0 | 0 | 0.0% |
| Peter Walker | 7,536,731 | 0 | 0 | 0.0% |
| Dale Bowen | 2,569,059 | 0 | 0 | 0.0% |
| Matthew A. Kaminer | 3,016,828 | 0 | 0 | 0.0% |
| Mitch Benson | 3,381,853 | 0 | 0 | 0.0% |
| Frank Maylett | 1,606,852 | 0 | 0 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Chris Ball | RSU | 194,553 | — | $5,254,877 |
| Steve Daly | RSU | 173,880 | — | 4,696,499 |
| Steve Daly | RSU | 171,184 | — | 4,623,680 |
| Benson | RSU | 57,695 | — | 1,558,342 |
| Kaminer | RSU | 55,735 | — | 1,505,402 |
| Benson | RSU | 53,490 | — | 1,444,765 |
| Kaminer | RSU | 42,793 | — | 1,155,839 |
| Kaminer | RSU | 13,145 | — | 355,046 |
| Benson | RSU | 13,145 | — | 355,046 |
| Peter Walker | RSU | 305,998 | — | 8,265,006 |
| Steve Daly | RSU | 177,826 | — | 4,803,080 |
| Dale Bowen | RSU | 26,290 | — | 710,093 |
Our executive compensation program is based on four guiding principles: enhance stockholder value by aligning the financial interests of our NEOs with those of our stockholders; enable us to attract, motivate and retain the people needed to define and create industry-leading products and services; integrate compensation closely with the achievement of our business and performance objectives; and reward the individual performance that contributes to our short-term and long-term success.
| CEO STI target (% of salary) | 100% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Compensia |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | — |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2023 | 2023-05-25 | 135,129,926 | 1,142,287 | 25,930 | 99.14% | Passed |
| 2022 | 2022-05-26 | 133,339,181 | 325,912 | 7,340 | 99.75% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2023 | 2023-05-25 | 99.14%a |
| 2022 | 2022-05-26 | 99.75%b |
a. Approved under the standard stated in the filing — “Abstentions will be counted as present and entitled to vote on this proposal and will therefore have the effect of a negative vote.”.
b. Approved under the standard stated in the filing — “Abstentions will be counted as present and entitled to vote on these proposals and will therefore have the effect of a negative vote.”.
Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
| Ratio (CEO : median employee) | 68 : 1 |
|---|---|
| CEO total compensation | — |
| Median employee compensation | — |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Charles GoodmanIndependent · Board Chair · Compensation and Nominating (Chair) | $62,000 | $0 | $0 | $0 | $0 | $62,000 |
| Erik AkopiantzIndependent · Audit (Chair) | 50,000 | 0 | 0 | 0 | 0 | 50,000 |
| Lloyd Buzz WaterhouseIndependent · Audit | 40,000 | 0 | 0 | 0 | 0 | 40,000 |
| Ossa FisherIndependent · Audit | 40,000 | 0 | 0 | 0 | 0 | 40,000 |
| Paul Holden Spaht, JrNot independent · Compensation and Nominating | 36,000 | 0 | 0 | 0 | 0 | 36,000 |
| Brian JaffeeNot independent · Compensation and Nominating | 36,000 | 0 | 0 | 0 | 0 | 36,000 |
| James HutterNot independent | 30,000 | 0 | 0 | 0 | 0 | 30,000 |
| Steve DalyEmployee director | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | $30,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 20,000 / 12,000 |
| Stock ownership guideline | — |
| Component | FY2023 |
|---|---|
| Cash retainers and fees | $294,000 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $0 |
| Total cost of the board | $294,000 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Instructure Holdings | 2023 | Steve Daly | $482,813 | $5,651,951 | $0 | $263,291 | $6,400,555 |
Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Peter Walker | DEF 14A | 2024-04-22 | 0000950170-24-046440 | Section “2023 Summary Compensation Table”. As printed: 7,690,457. Filing ↗machine: r5 · c25 · span 452066–452075 |
| 2 | Section 01, Steve Daly | DEF 14A | 2024-04-22 | 0000950170-24-046440 | Section “2023 Summary Compensation Table”. As printed: 6,400,555. Filing ↗machine: r2 · c25 · span 432265–432274 |
| 3 | Section 01, Chris Ball | DEF 14A | 2024-04-22 | 0000950170-24-046440 | Section “2023 Summary Compensation Table”. As printed: 5,685,054. Filing ↗machine: r7 · c25 · span 463835–463844 |
| 4 | Section 01, Dale Bowen | DEF 14A | 2024-04-22 | 0000950170-24-046440 | Section “2023 Summary Compensation Table”. As printed: 3,780,017. Filing ↗machine: r15 · c25 · span 514835–514844 |
| 5 | Section 03, Chris Ball RSU | DEF 14A | 2024-04-22 | 0000950170-24-046440 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t11 · r7 · c13 · span 460991–461000 |
| 6 | Section 03, Steve Daly RSU | DEF 14A | 2024-04-22 | 0000950170-24-046440 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t11 · r2 · c13 · span 429421–429430 |
| 7 | Section 03, Peter Walker RSU | DEF 14A | 2024-04-22 | 0000950170-24-046440 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t11 · r5 · c13 · span 449222–449231 |
| 8 | Section 03, Dale Bowen RSU | DEF 14A | 2024-04-22 | 0000950170-24-046440 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t11 · r15 · c13 · span 511989–511998 |
| 9 | Section 03, Matthew A. Kaminer RSU | DEF 14A | 2024-04-22 | 0000950170-24-046440 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t11 · r9 · c13 · span 472653–472662 |
| 10 | Section 03, Mitch Benson RSU | DEF 14A | 2024-04-22 | 0000950170-24-046440 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t11 · r12 · c13 · span 492324–492333 |
| 11 | Section 03, Matthew A. Kaminer RSU | DEF 14A | 2024-04-22 | 0000950170-24-046440 | Section “EACH OF THE DIRECTOR NOMINEES.” · grants of plan-based awards table. Filing ↗ |
| 12 | Section 03, Steve Daly RSU | DEF 14A | 2024-04-22 | 0000950170-24-046440 | Section “EACH OF THE DIRECTOR NOMINEES.” · grants of plan-based awards table. Filing ↗machine: t11 · r3 · c13 · span 436020–436029 |
| 13 | Section 03, Frank Maylett RSU | DEF 14A | — | — | Section “Executive Compensation” · grants of plan-based awards table. |
| 14 | Section 03, Mitch Benson RSU | DEF 14A | 2024-04-22 | 0000950170-24-046440 | Section “EACH OF THE DIRECTOR NOMINEES.” · grants of plan-based awards table. Filing ↗machine: t11 · r13 · c13 · span 498921–498930 |
| 15 | Section 07, pay ratio | DEF 14A | 2024-04-22 | 0000950170-24-046440 | Section “CEO Pay Ratio”. As printed: 68 : 1. Filing ↗machine: span 1190136–1190138 |
| 16 | Section 08, Charles Goodman | DEF 14A | 2023-04-24 | 0000950170-23-014121 | Section “Director Compensation”. As printed: 62,000. Filing ↗machine: t17 · r2 · c3 · span 1254422–1254428 |
| 17 | Section 08, Erik Akopiantz | DEF 14A | 2023-04-24 | 0000950170-23-014121 | Section “Director Compensation”. As printed: 50,000. Filing ↗machine: t17 · r3 · c3 · span 1256540–1256546 |
| 18 | Section 08, Lloyd Buzz Waterhouse | DEF 14A | 2023-04-24 | 0000950170-23-014121 | Section “Director Compensation”. As printed: 40,000. Filing ↗machine: t17 · r5 · c3 · span 1258667–1258673 |
| 19 | Section 08, Ossa Fisher | DEF 14A | 2023-04-24 | 0000950170-23-014121 | Section “Director Compensation”. As printed: 40,000. Filing ↗machine: t17 · r4 · c3 · span 1258667–1258673 |
| 20 | Section 08, Paul Holden Spaht, Jr | DEF 14A | 2023-04-24 | 0000950170-23-014121 | Section “Director Compensation”. As printed: 36,000. Filing ↗machine: t17 · r8 · c3 · span 1265018–1265024 |
| 21 | Section 08, Brian Jaffee | DEF 14A | 2023-04-24 | 0000950170-23-014121 | Section “Director Compensation”. As printed: 36,000. Filing ↗machine: t17 · r7 · c3 · span 1265018–1265024 |
| 22 | Section 08, James Hutter | DEF 14A | 2023-04-24 | 0000950170-23-014121 | Section “Director Compensation”. As printed: 30,000. Filing ↗machine: t17 · r6 · c3 · span 1262902–1262908 |
| 23 | Section 08, Steve Daly | DEF 14A | 2023-04-24 | 0000950170-23-014121 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 24 | Section 06, 2023 vote | Form 8-K | 2023-05-26 | 0000950170-23-024562 | Item 5.07 · say-on-pay result. As reported: 99.14% (votes for as printed: 135,129,926). Filing ↗ |
| 25 | Section 06, 2022 vote | Form 8-K | 2022-05-27 | 0001193125-22-162347 | Item 5.07 · say-on-pay result. As reported: 99.75% (votes for as printed: 133,339,181). Filing ↗machine: span 30194–32503 |
| 26 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 27 | Section 03b vehicle mix (computed) | Computed | — | computed | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 28 | Section 09b board cost (computed) | Computed | — | computed | Cash 294,000 + equity 0 + all other 0 = 294,000, summed across the director compensation table rows.machine: formula: Σ = 294,000 |
| 29 | Instructure Holdings (subject), Section 10b CEO total | DEF 14A | 2024-04-22 | 0000950170-24-046440 | CEO total compensation as printed in Instructure Holdings's own proxy. As printed: 6,400,555. Filing ↗machine: r2 · c25 · span 432265–432274 |