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 PWSC 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 PWSC 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 |
|---|---|---|---|---|---|---|---|---|
| Hardeep Gulati | $500,000 | $0 | $12,756,671 | $0 | $642,750 | $0 | $14,850 | $13,914,272 |
| Chief Executive Officer | ||||||||
| Eric Shander | 450,000 | 0 | 4,143,236 | 0 | 518,119 | 0 | 14,006 | 5,125,361 |
| President & Chief Financial Officer | ||||||||
| Shivani Stumpf | 286,604 | 29,202 | 3,018,366 | 0 | 171,962 | 0 | 8,901 | 3,485,834 |
| Chief Product and Innovation Officer | ||||||||
| Devendra Singh | 374,785 | 0 | 2,199,993 | 0 | 246,234 | 0 | 14,025 | 2,835,038 |
| Chief Technology Officer | ||||||||
| Marcy Daniel | 279,730 | 0 | 1,999,992 | 0 | 0 | 0 | 11,560 | 2,291,282 |
| Chief Product Officer (Former) | ||||||||
| Michael Bisignano | 326,246 | 824 | 1,099,997 | 0 | 163,123 | 0 | 12,656 | 1,602,021 |
| Chief Legal Officer | ||||||||
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 |
|---|---|---|---|---|
| Hardeep Gulati | $13,914,272 | $14,229,212 | — | −314,940 |
| Eric Shander | 5,125,361 | 5,694,416 | — | −569,055 |
| Shivani Stumpf | 3,485,834 | — | — | — |
| Devendra Singh | 2,835,038 | — | — | — |
| Marcy Daniel | 2,291,282 | — | — | — |
| Michael Bisignano | 1,602,021 | — | — | — |
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 |
|---|---|---|---|---|---|---|---|
| Devendra Singh | OTHER | 2023-03-20 | — | — | — | — | $2,199,993 |
| Eric Shander | OTHER | 2023-03-20 | — | — | — | — | 4,143,236 |
| Hardeep Gulati | OTHER | 2023-03-20 | — | — | — | — | 12,756,671 |
| Marcy Daniel | OTHER | — | — | — | — | — | 1,999,992 |
| Michael Bisignano | OTHER | — | — | — | — | — | 1,099,997 |
| Shivani Stumpf | OTHER | — | — | — | — | — | 3,018,366 |
Grant-level vehicle detail not disclosed.
% 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 |
|---|---|---|---|---|
| Hardeep Gulati | PSU | 9,685,775 | — | $228,196,820 |
| Eric Shander | PSU | 1,562,240 | — | 36,806,368 |
| Shivani Stumpf | RSU | 19,893 | — | 468,679 |
| Michael Bisignano | RSU | 40,486 | — | 953,850 |
| Michael Bisignano | RSU | 29,623 | — | 697,918 |
| Shivani Stumpf | RSU | 26,610 | — | 626,932 |
| Shivani Stumpf | RSU | 130,073 | — | 3,064,520 |
| Michael Bisignano | RSU | 5,305 | — | 124,986 |
| Michael Bisignano | RSU | 56,468 | — | 1,330,380 |
| Shivani Stumpf | RSU | 19,578 | — | 461,258 |
| Hardeep Gulati | RSU | 1,899,988 | — | 44,763,710 |
| Eric Shander | RSU | 249,950 | — | 5,888,821 |
| Devendra Singh | RSU | 189,999 | — | 4,476,376 |
Generally, we target total direct compensation (base salary, annual cash bonus, and long-term equity incentives) for our Named Executive Officer group, overall, within a competitive range of the market median.
| CEO STI target (% of salary) | 100% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Compensation Advisory Partners LLC |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | True |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Barbara ByrneIndependent · Audit (Chair) | $120,000 | $150,000 | $0 | $0 | $0 | $270,000 |
| Amy McIntoshIndependent · Audit | 100,000 | 150,000 | 0 | 0 | 0 | 250,000 |
| Ronald D. McCrayIndependent · Audit | 100,000 | 150,000 | 0 | 0 | 0 | 250,000 |
| Zach LevittNot independent · Compensation and Nominating | 0 | 0 | 0 | 0 | 0 | 0 |
| Hardeep GulatiEmployee director | 0 | 0 | 0 | — | 0 | 0 |
| Gwen ReinkeNot independent | 0 | 0 | 0 | 0 | 0 | 0 |
| Judy CotteNot independent · Executive | 0 | 0 | 0 | 0 | 0 | 0 |
| Laurence GoldbergNot independent · Board Chair · Compensation and Nominating | 0 | 0 | 0 | 0 | 0 | 0 |
| Betty HungNot independent · Compensation and Nominating (Chair) | 0 | 0 | 0 | 0 | 0 | 0 |
| Maneet S. SaroyaNot independent · Compensation and Nominating | 0 | 0 | 0 | 0 | 0 | 0 |
| Annual cash retainer | $100,000 |
|---|---|
| Annual equity retainer | $150,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 |
| Stock ownership guideline | — |
| Component | FY2023 |
|---|---|
| Cash retainers and fees | $320,000 |
| Equity awards (grant-date value) | $450,000 |
| All other compensation | $0 |
| Total cost of the board | $770,000 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Of the companies PowerSchool Holdings names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.
Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including PowerSchool Holdings.
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 | Vertex, Inc. | 2025 | Christopher Young | $97,808 | $24,999,992 | $0 | $0 | $25,615,909 |
| 2 | Paylocity Holding Corporation | 2025 | Toby Williams | 680,960 | 16,319,530 | 0 | 951,471 | 18,044,482 |
| 3 | BILL Holdings, Inc. | 2025 | Ren Lacerte | 550,000 | 14,861,481 | 0 | 688,050 | 16,139,836 |
| 4 | Workiva Inc. | 2025 | Julie Iskow | 625,000 | 14,000,031 | 0 | 937,500 | 15,640,220 |
| 5 | ACI Worldwide, Inc. | 2025 | Thomas Warsop III | 750,000 | 13,204,027 | 0 | 1,018,875 | 14,999,961 |
| 6 | Guidewire Software, Inc. | 2025 | Mike Rosenbaum | 750,000 | 12,280,203 | 0 | 975,000 | 14,012,061 |
| 7 | PowerSchool Holdings | 2023 | Hardeep Gulati | 500,000 | 12,756,671 | 0 | 642,750 | 13,914,272 |
| 8 | BlackLine, Inc. | 2025 | Owen Ryan | 524,231 | 5,694,941 | 4,908,126 | 473,378 | 11,614,676 |
| 9 | Aspen Technology, Inc. | 2024 | Antonio Pietri | 750,000 | 10,115,548 | 0 | 664,639 | 11,541,446 |
| 10 | SPS Commerce, Inc. | 2025 | Chad Collins | 609,658 | 10,789,704 | 0 | 0 | 11,410,244 |
| 11 | Tyler Technologies, Inc. | 2025 | H. Lynn Moore, Jr. | 675,000 | 8,173,649 | 0 | 0 | 8,858,370 |
| 12 | Instructure Holdings, Inc. | 2023 | Steve Daly | — | 5,651,951 | 0 | 263,291 | 6,400,555 |
| 13 | Blackbaud, Inc. | 2025 | Michael Gianoni | 800,031 | 5,206,285 | 0 | 0 | 6,022,250 |
| 14 | AppFolio, Inc. | 2025 | Shane Trigg | 550,000 | 4,000,307 | 0 | 814,000 | 5,438,904 |
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.
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| PowerSchool Holdings | 92% | PSU 75 · RSU 25 | No | Compensation Advisory Partners LLC |
| ACI Worldwide, Inc. | 135.85% | PSU 65 · RSU 35 | No | Compensia, Inc. |
| AppFolio, Inc. | 148% | PSU 60 · RSU 40 | No | not disclosed |
| Aspen Technology, Inc. | Varied by NEO (e.g., Pietri earned $664,339 against $900,000 target, ~74%; Stagno earned $122,234 against $125,528 target, ~97%; Mouritsen earned $251,922 against $325,000 target, ~78%; Breithaupt earned $38,710 against $375,000 target, ~10%)% | RSUs 50 · PSUs 50 | No | Willis Towers Watson (WTW) |
| BILL Holdings, Inc. | 125.1% | RSU 50 · PSU 50 | Yes — Relative TSR | Semler Brossy Consulting Group LLC |
| Blackbaud, Inc. | 102.3% | PRSU 75 · RSA 25 | No | Compensia, Inc. |
| BlackLine, Inc. | 90.1% | RSU 50 · PSU 50 | Yes — Relative TSR | Compensia |
| Guidewire Software, Inc. | 130% | PSU 50 · RSU 50 | No | Semler Brossy |
| Instructure Holdings, Inc. | 54.1% | RSU 100 | not disclosed | Compensia |
| Paylocity Holding Corporation | 138% | RSU 50 · PSU 33 · MSU 17 | No | Compensia |
| SPS Commerce, Inc. | not disclosed | RSU 50 · PSU 50 | Yes — relative TSR performance against the Russell 2000 Index | Compensia |
| Tyler Technologies, Inc. | 120% | PSU 80 · RSU 20 | No | Radford |
| Vertex, Inc. | 70.8% | RSU 100 | not disclosed | AON (AON's Human Capital Solutions practice, a division of AON plc) |
| Workiva Inc. | 120% | RSU 70 · PSU 30 | No | Alpine Rewards LLC |
Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.
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, Hardeep Gulati | DEF 14A | 2024-04-04 | 0001140361-24-017804 | Section “2023 Summary Compensation Table”. As printed: 13,914,272. Filing ↗machine: r2 · c27 · span 534356–534367 |
| 2 | Section 01, Eric Shander | DEF 14A | 2024-04-04 | 0001140361-24-017804 | Section “2023 Summary Compensation Table”. As printed: 5,125,361. Filing ↗machine: r5 · c27 · span 550570–550580 |
| 3 | Section 01, Shivani Stumpf | DEF 14A | 2024-04-04 | 0001140361-24-017804 | Section “2023 Summary Compensation Table”. As printed: 3,485,834. Filing ↗machine: t105 · r11 · c27 · span 582986–582996 |
| 4 | Section 01, Devendra Singh | DEF 14A | 2024-04-04 | 0001140361-24-017804 | Section “2023 Summary Compensation Table”. As printed: 2,835,038. Filing ↗machine: r8 · c27 · span 566761–566771 |
| 5 | Section 01, Marcy Daniel | DEF 14A | 2024-04-04 | 0001140361-24-017804 | Section “2023 Summary Compensation Table”. As printed: 2,291,282. Filing ↗machine: r17 · c27 · span 615314–615324 |
| 6 | Section 01, Michael Bisignano | DEF 14A | 2024-04-04 | 0001140361-24-017804 | Section “2023 Summary Compensation Table”. As printed: 1,602,021. Filing ↗machine: r14 · c27 · span 599154–599164 |
| 7 | Section 03, Devendra Singh OTHER | DEF 14A | 2024-04-04 | 0001140361-24-017804 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t112 · r5 · c42 · span 692424–692433 |
| 8 | Section 03, Eric Shander OTHER | DEF 14A | 2024-04-04 | 0001140361-24-017804 | Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t105 · r5 · c12 · span 547757–547766 |
| 9 | Section 03, Hardeep Gulati OTHER | DEF 14A | 2024-04-04 | 0001140361-24-017804 | Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t105 · r2 · c12 · span 531549–531559 |
| 10 | Section 03, Marcy Daniel OTHER | DEF 14A | 2024-04-04 | 0001140361-24-017804 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t112 · r8 · c42 · span 721257–721266 |
| 11 | Section 03, Michael Bisignano OTHER | DEF 14A | 2024-04-04 | 0001140361-24-017804 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t112 · r7 · c42 · span 712577–712586 |
| 12 | Section 03, Shivani Stumpf OTHER | DEF 14A | 2024-04-04 | 0001140361-24-017804 | Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t105 · r11 · c12 · span 580181–580190 |
| 13 | Section 08, Barbara Byrne | DEF 14A | 2024-04-04 | 0001140361-24-017804 | Section “Director Compensation”. As printed: 270,000. Filing ↗machine: t152 · r1 · c9 · span 1039347–1039354 |
| 14 | Section 08, Amy McIntosh | DEF 14A | 2024-04-04 | 0001140361-24-017804 | Section “Director Compensation”. As printed: 250,000. Filing ↗machine: t152 · r3 · c9 · span 1043836–1043843 |
| 15 | Section 08, Ronald D. McCray | DEF 14A | 2024-04-04 | 0001140361-24-017804 | Section “Director Compensation”. As printed: 250,000. Filing ↗machine: t152 · r2 · c9 · span 1041704–1041711 |
| 16 | Section 08, Zach Levitt | DEF 14A | 2024-04-04 | 0001140361-24-017804 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 17 | Section 08, Hardeep Gulati | DEF 14A | 2024-04-04 | 0001140361-24-017804 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 18 | Section 08, Gwen Reinke | DEF 14A | 2024-04-04 | 0001140361-24-017804 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 19 | Section 08, Judy Cotte | DEF 14A | 2024-04-04 | 0001140361-24-017804 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 20 | Section 08, Laurence Goldberg | DEF 14A | 2024-04-04 | 0001140361-24-017804 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 21 | Section 08, Betty Hung | DEF 14A | 2024-04-04 | 0001140361-24-017804 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 22 | Section 08, Maneet S. Saroya | DEF 14A | 2024-04-04 | 0001140361-24-017804 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 23 | 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) |
| 24 | Section 09b board cost (computed) | Computed | — | computed | Cash 320,000 + equity 450,000 + all other 0 = 770,000, summed across the director compensation table rows.machine: formula: Σ = 770,000 |
| 25 | Vertex, Inc., Section 10b CEO total | DEF 14A | 2026-04-27 | 0001104659-26-049441 | CEO total compensation as printed in Vertex, Inc.'s own proxy. As printed: 25,615,909. Filing ↗machine: t73 · r3 · c8 · span 499975–499985 |
| 26 | Paylocity Holding Corporation, Section 10b CEO total | DEF 14A | 2025-10-23 | 0001591698-25-000102 | CEO total compensation as printed in Paylocity Holding Corporation's own proxy. As printed: 18,044,482. Filing ↗machine: t90 · r2 · c24 · span 674330–674340 |
| 27 | BILL Holdings, Inc., Section 10b CEO total | DEF 14A | 2025-10-27 | 0001193125-25-251571 | CEO total compensation as printed in BILL Holdings, Inc.'s own proxy. As printed: 16,139,836. Filing ↗machine: t222 · r3 · c34 · span 972693–972703 |
| 28 | Workiva Inc., Section 10b CEO total | DEF 14A | 2026-04-17 | 0001445305-26-000030 | CEO total compensation as printed in Workiva Inc.'s own proxy. As printed: 15,640,220. Filing ↗machine: t26 · r3 · c16 · span 1433486–1433496 |
| 29 | ACI Worldwide, Inc., Section 10b CEO total | DEF 14A | 2026-04-20 | 0001193125-26-162572 | CEO total compensation as printed in ACI Worldwide, Inc.'s own proxy. As printed: 14,999,961. Filing ↗machine: t151 · r6 · c34 · span 887084–887094 |
| 30 | Guidewire Software, Inc., Section 10b CEO total | DEF 14A | 2025-10-30 | 0001528396-25-000233 | CEO total compensation as printed in Guidewire Software, Inc.'s own proxy. As printed: 14,012,061. Filing ↗machine: r3 · c21 · span 777771–777781 |
| 31 | PowerSchool Holdings (subject), Section 10b CEO total | DEF 14A | 2024-04-04 | 0001140361-24-017804 | CEO total compensation as printed in PowerSchool Holdings's own proxy. As printed: 13,914,272. Filing ↗machine: r2 · c27 · span 534356–534367 |
| 32 | BlackLine, Inc., Section 10b CEO total | DEF 14A | 2026-03-25 | 0001628280-26-020925 | CEO total compensation as printed in BlackLine, Inc.'s own proxy. As printed: 11,614,676. Filing ↗machine: r2 · c54 · span 948504–948514 |
| 33 | Aspen Technology, Inc., Section 10b CEO total | DEF 14A | 2024-10-24 | 0001897982-24-000062 | CEO total compensation as printed in Aspen Technology, Inc.'s own proxy. As printed: 11,541,446. Filing ↗machine: r2 · c24 · span 565955–565965 |
| 34 | SPS Commerce, Inc., Section 10b CEO total | DEF 14A | 2026-04-14 | 0001092699-26-000029 | CEO total compensation as printed in SPS Commerce, Inc.'s own proxy. As printed: 11,410,244. Filing ↗machine: r2 · c42 · span 913548–913558 |
| 35 | Tyler Technologies, Inc., Section 10b CEO total | DEF 14A | 2026-03-23 | 0000860731-26-000022 | CEO total compensation as printed in Tyler Technologies, Inc.'s own proxy. As printed: 8,858,370. Filing ↗machine: t205 · r9 · c16 · span 1010313–1010322 |
| 36 | Instructure Holdings, Inc., Section 10b CEO total | DEF 14A | 2024-04-22 | 0000950170-24-046440 | CEO total compensation as printed in Instructure Holdings, Inc.'s own proxy. As printed: 6,400,555. Filing ↗machine: r2 · c25 · span 432265–432274 |
| 37 | Blackbaud, Inc., Section 10b CEO total | DEF 14A | 2026-04-21 | 0001280058-26-000009 | CEO total compensation as printed in Blackbaud, Inc.'s own proxy. As printed: 6,022,250. Filing ↗machine: t43 · r2 · c18 · span 234129–234138 |
| 38 | AppFolio, Inc., Section 10b CEO total | DEF 14A | 2026-04-28 | 0001433195-26-000031 | CEO total compensation as printed in AppFolio, Inc.'s own proxy. As printed: 5,438,904. Filing ↗machine: r3 · c51 · span 627702–627711 |
| 39 | Section 10a, Blackbaud, Inc. reciprocity | DEF 14A | — | 0001280058-26-000009 | Blackbaud, Inc.'s most recent proxy was read; its disclosed peer group does not include PowerSchool Holdings. Filing ↗ |
| 40 | Section 10a, Guidewire Software, Inc. reciprocity | DEF 14A | — | 0001528396-25-000233 | Guidewire Software, Inc.'s most recent proxy was read; its disclosed peer group does not include PowerSchool Holdings. Filing ↗ |
| 41 | Section 10a, Aspen Technology, Inc. reciprocity | DEF 14A | — | 0001897982-24-000062 | Aspen Technology, Inc.'s most recent proxy was read; its disclosed peer group does not include PowerSchool Holdings. Filing ↗ |
| 42 | Section 10a, BILL Holdings, Inc. reciprocity | DEF 14A | — | 0001193125-25-251571 | BILL Holdings, Inc.'s most recent proxy was read; its disclosed peer group does not include PowerSchool Holdings. Filing ↗ |
| 43 | Section 10a, BlackLine, Inc. reciprocity | DEF 14A | — | 0001628280-26-020925 | BlackLine, Inc.'s most recent proxy was read; its disclosed peer group does not include PowerSchool Holdings. Filing ↗ |
| 44 | Section 10a, SPS Commerce, Inc. reciprocity | DEF 14A | — | 0001092699-26-000029 | SPS Commerce, Inc.'s most recent proxy was read; its disclosed peer group does not include PowerSchool Holdings. Filing ↗ |
| 45 | Section 10a, Tyler Technologies, Inc. reciprocity | DEF 14A | — | 0000860731-26-000022 | Tyler Technologies, Inc.'s most recent proxy was read; its disclosed peer group does not include PowerSchool Holdings. Filing ↗ |
| 46 | Section 10a, Paylocity Holding Corporation reciprocity | DEF 14A | — | 0001591698-25-000102 | Paylocity Holding Corporation's most recent proxy was read; its disclosed peer group does not include PowerSchool Holdings. Filing ↗ |