Velarion · Company Intelligence
Compensation Brief
Fiscal year 2024 · Filings through 2026-06-01

Semrush Holdings, Inc. (SEMR)

Fiscal year 2024 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.

$8,000,762
Oleg Shchegolev total, FY2024
50th
CEO pay percentile vs peers
CEO-to-median pay ratio
99.74%
Say-on-pay support, latest vote
Companies that benchmark against SEMR
14 companies name SEMR as a compensation peer

Each company listed discloses SEMR 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 SEMR in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2024

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Oleg Shchegolev$0$0$7,999,992$0$0$0$770$8,000,762
Co-Founder and Chief Executive Officer
Brian Mulroy408,11603,499,9820442,438017,1764,367,712
Chief Financial Officer
Eugene Levin383,11602,999,9810348,864019,0423,751,003
President
Vitalii Obishchenko391,35802,999,9810268,628003,659,967
Chief Operating Officer
Andrew Warden400,00002,499,9800292,179015,6603,207,819
Chief Marketing 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.

Three-year trend — total compensation per named executive

Named executive officerFY2024 totalFY2023 totalFY2022 totalΔ FY20232024
Oleg Shchegolev$8,000,762$4,353,345$6,010,359+3,647,417
Brian Mulroy4,367,7124,679,514−311,802
Eugene Levin3,751,0032,859,993
Vitalii Obishchenko3,659,9672,872,354+787,613
Andrew Warden3,207,819

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2024

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Oleg ShchegolevRSU2024-03-01318,471$3,999,996
Brian MulroyPSU2024-03-0127,86655,732111,464699,994
Brian MulroyRSU2024-03-01222,9292,799,988
Vitalii ObishchenkoPSU2024-03-0123,88547,77095,540599,991
Andrew WardenPSU2024-03-0119,90439,80879,616499,988
Vitalii ObishchenkoRSU2024-03-01191,0822,399,990
Oleg ShchegolevPSU2024-03-01159,236318,471636,9423,999,996
Eugene LevinPSU2024-03-0123,88547,77095,540599,991
Eugene LevinRSU2024-03-01191,0822,399,990
Andrew WardenRSU2024-03-01159,2351,999,992
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Oleg Shchegolev$3,999,996$3,999,996$050.0%
Brian Mulroy2,799,988699,994020.0%
Vitalii Obishchenko2,399,990599,991020.0%
Andrew Warden1,999,992499,988020.0%
Eugene Levin2,399,990599,991020.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2024

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Andrew WardenRSU39,808$472,919
Eugene LevinRSU191,0822,270,054
Vitalii ObishchenkoRSU100,3341,191,968
Eugene LevinRSU62,709744,983
Vitalii ObishchenkoRSU18,813223,498
Eugene LevinRSU100,3341,191,968
Vitalii ObishchenkoOption32,10211.96
Andrew WardenRSU41,806496,655
Vitalii ObishchenkoRSU62,709744,983
Eugene LevinRSU18,813223,498
Vitalii ObishchenkoRSU191,0822,270,054
Oleg ShchegolevRSU318,4713,783,435
Andrew WardenRSU159,2351,891,712
Oleg ShchegolevRSU156,7721,862,451
Andrew WardenRSU66,889794,641
Vitalii ObishchenkoRSU47,770567,508
Eugene LevinRSU47,770567,508
Andrew WardenRSU14,163168,256
Andrew WardenRSU12,541148,987
Eugene LevinOption32,10211.96
Vitalii ObishchenkoOption6,90812.78
Andrew WardenOption74,4459.78
Brian MulroyOption123,4289.26
Vitalii ObishchenkoOption111,6699.78
Andrew WardenOption21,40111.96
Andrew WardenOption24,08923.83
Brian MulroyRSU222,9292,648,397
Oleg ShchegolevRSU250,8362,979,932
Eugene LevinOption111,4081.23
Brian MulroyRSU55,732662,096
Oleg ShchegolevOption279,1727.93
Brian MulroyRSU84,3681,002,292
Oleg ShchegolevOption80,25411.96
Vitalii ObishchenkoOption60,0001.86
Oleg ShchegolevRSU47,032558,740
Eugene LevinOption111,6689.78
Vitalii ObishchenkoRSU4,89058,093
05

Incentive-plan design — the Compensation Discussion & Analysis

The underpinning of our executive compensation program is our philosophy of paying for performance specifically, we seek to pay for performance in a manner that encourages, recognizes, and rewards for both the Company's, and the individual executive officer's, performance and the individual's contributions, while also incentivizing decisions and behavior that drive and sustain long-term stockholder value.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantCompensia, Inc.
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20252025-06-05249,497,414648,50657,40299.74%Passed
20246,000,000

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.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
2024a
20252025-06-0599.74%b

a. Voting standard not stated in the filing.

b. Approved under the standard stated in the filing — “As such, we do not anticipate there to be any broker non-votes on Proposal Two, but nonetheless, if there are any broker non-votes or abstentions, they will have no effect on the outcome of the vote for this proposal.”.

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.

08

Director compensation — fiscal year 2024

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Mark VraneshIndependent · Board Chair · Audit · Nominating and Corporate Governance$69,625$182,500$0$0$0$252,125
Anna BairdIndependent · Audit (Chair)55,000182,500000237,500
William WagnerEmployee director54,000182,50000236,500
Trynka Shineman BlakeIndependent · Nominating and Corporate Governance (Chair) · Talent and Compensation53,000182,500000235,500
Steven AldrichIndependent · Talent and Compensation (Chair) · Audit41,250182,500000223,750
Dmitry MelnikovNot independent35,000182,500000217,500
Dylan PearceIndependent · Talent and Compensation · Nominating and Corporate Governance000000
Oleg ShchegolevEmployee director00000
09

Board fee structure and ownership guideline

Annual cash retainer$35,000
Annual equity retainer$182,500
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)20,000 / 15,000 / 8,000
Stock ownership guidelineour non-employee directors is also subject to our Share Ownership Retention Policy
09b

Total cost of the board

ComponentFY2024
Cash retainers and fees$307,875
Equity awards (grant-date value)$1,095,000
All other compensation$0
Total cost of the board$1,402,875

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2024

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Semrush Holdings, Inc. 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 Semrush Holdings, Inc..

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Freshworks2025Dennis Woodside$629,167$14,304,076$0$688,698$15,623,481
2Braze2026William Magnuson580,00012,776,5160868,78214,230,598
3BlackLine2025Owen Ryan524,2315,694,9414,908,126473,37811,614,676
4Olo2024Noah H. Glass500,0008,525,3590468,3689,510,745
5Domo2026Joshua James500,0008,357,0040593,5509,465,244
6Zuora2024Tien Tzuo500,0007,950,0000337,5008,787,500
7Yext2026Michael Walrath482,3087,675,0000503,6088,693,973
8Semrush Holdings, Inc.2024Oleg Shchegolev07,999,992008,000,762
9Sprout Social2025Ryan Barretto500,0006,881,7330460,3377,848,570
10Appian2025Matthew Calkins1,150,0001,760,000002,941,276
11Expensify2025David Barrett1,845,85157,853001,903,704
12Sprinklr2026Rory Read675,00000985,5001,664,700
13DigitalOcean Holdings2025Padmanabhan Srinivasan600,00000588,0001,210,795
14Amplitude2025Spenser Skates450,000339,019789,019
15Squarespace2023Anthony Casalena1000552,146
monday.comnot in coverage universe
Similarwebnot in coverage universe

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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Semrush Holdings, Inc.not disclosedRSU 50 · PSU 50NoCompensia, Inc.
Amplitude100.45%not disclosednot disclosedCompensia
Appiannot disclosedRSU 100Nonot disclosed
BlackLine90.1%RSU 50 · PSU 50Yes — Relative TSRCompensia
Braze150%RSU 70 · PSU 30NoCompensia
DigitalOcean Holdings98%PSU 65 · RSU 35NoCompensia
Domo119%not disclosedNoCompensia
Expensifynot disclosedRSU 100not disclosednot disclosed
Freshworks109%RSU 70 · PSU 30NoCompensia, Inc.
monday.comnot disclosednot disclosednot disclosednot disclosed
Olo93.7%not disclosedNoCompensia
Similarwebnot disclosednot disclosednot disclosednot disclosed
Sprinklr146.7%RSU 75 · PSU 25Yes — Relative Total Stockholder Return (rTSR)Compensia
Sprout Social92%RSU 100not disclosedCompensia, Inc.
Squarespace162.97%RSU 75 · PSU 25NoFrederic W. Cook & Co., Inc.
Yext102.83%RSU 50 · PSU 50NoCompensia
Zuora67.5%not disclosedNoCompensia

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.

FAQ

Frequently asked questions

Who was the highest-paid executive at Semrush Holdings, Inc. in fiscal 2024?
The highest-paid executive at Semrush Holdings, Inc. in fiscal 2024 was Oleg Shchegolev, Co-Founder and Chief Executive Officer, with total compensation of $8,000,762.
How does Semrush Holdings, Inc.'s chief executive pay compare to its disclosed peer group?
The filing shows that the chief executive's pay falls at the 50th percentile of the disclosed peer group.
What is Semrush Holdings, Inc.'s CEO-to-median employee pay ratio?
The CEO-to-median employee pay ratio was not disclosed in this extract.
How did shareholders vote on Semrush Holdings, Inc.'s executive compensation?
Shareholders voted 99.74% in support of the executive compensation plan in the latest vote.
How much does Semrush Holdings, Inc. spend in total on board compensation for fiscal 2024?
Semrush Holdings, Inc. spent $1,402,875 in total on board compensation for fiscal 2024.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

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.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Oleg ShchegolevDEF 14A2025-04-170001628280-25-018235Section “2024 Summary Compensation Table”. As printed: 8,000,762. Filing ↗machine: t192 · r3 · c8 · span 780216–780225
2Section 01, Brian MulroyDEF 14A2025-04-170001628280-25-018235Section “2024 Summary Compensation Table”. As printed: 4,367,712. Filing ↗machine: r6 · c24 · span 786339–786348
3Section 01, Eugene LevinDEF 14A2025-04-170001628280-25-018235Section “2024 Summary Compensation Table”. As printed: 3,751,003. Filing ↗machine: r8 · c24 · span 790505–790514
4Section 01, Vitalii ObishchenkoDEF 14A2025-04-170001628280-25-018235Section “2024 Summary Compensation Table”. As printed: 3,659,967. Filing ↗machine: r11 · c24 · span 796600–796609
5Section 01, Andrew WardenDEF 14A2025-04-170001628280-25-018235Section “2024 Summary Compensation Table”. As printed: 3,207,819. Filing ↗machine: r13 · c24 · span 800786–800795
6Section 03, Oleg Shchegolev RSUDEF 14A2025-04-170001628280-25-018235Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t198 · r6 · c12 · span 826181–826190
7Section 03, Brian Mulroy PSUDEF 14A2025-04-170001628280-25-018235Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t198 · r9 · c12 · span 832952–832959
8Section 03, Brian Mulroy RSUDEF 14A2025-04-170001628280-25-018235Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t198 · r10 · c12 · span 834902–834911
9Section 03, Vitalii Obishchenko PSUDEF 14A2025-04-170001628280-25-018235Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t198 · r15 · c12 · span 846707–846714
10Section 03, Andrew Warden PSUDEF 14A2025-04-170001628280-25-018235Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t198 · r18 · c12 · span 853508–853515
11Section 03, Vitalii Obishchenko RSUDEF 14A2025-04-170001628280-25-018235Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t198 · r16 · c12 · span 848657–848666
12Section 03, Oleg Shchegolev PSUDEF 14A2025-04-170001628280-25-018235Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t198 · r6 · c12 · span 826181–826190
13Section 03, Eugene Levin PSUDEF 14A2025-04-170001628280-25-018235Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t198 · r12 · c12 · span 839720–839727
14Section 03, Eugene Levin RSUDEF 14A2025-04-170001628280-25-018235Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t198 · r13 · c12 · span 841670–841679
15Section 03, Andrew Warden RSUDEF 14A2025-04-170001628280-25-018235Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t198 · r19 · c12 · span 855874–855883
16Section 08, Mark VraneshDEF 14A2025-04-170001628280-24-016803Section “Director Compensation”. As printed: 252,125. Filing ↗
17Section 08, Anna BairdDEF 14A2025-04-170001628280-24-016803Section “Director Compensation”. As printed: 237,500. Filing ↗
18Section 08, William WagnerDEF 14A2025-04-170001628280-24-016803Section “Director Compensation”. As printed: 236,500. Filing ↗
19Section 08, Trynka Shineman BlakeDEF 14A2025-04-170001628280-24-016803Section “Director Compensation”. As printed: 235,500. Filing ↗machine: t107 · r7 · c5 · span 206462–206469
20Section 08, Steven AldrichDEF 14A2025-04-170001628280-24-016803Section “Director Compensation”. As printed: 223,750. Filing ↗
21Section 08, Dmitry MelnikovDEF 14A2025-04-170001628280-24-016803Section “Director Compensation”. As printed: 217,500. Filing ↗machine: t107 · r5 · c5 · span 211863–211870
22Section 08, Dylan PearceDEF 14A2025-04-170001628280-24-016803Section “Director Compensation”. As printed: 0. Filing ↗
23Section 08, Oleg ShchegolevDEF 14A2025-04-170001628280-24-016803Section “Director Compensation”. As printed: 0. Filing ↗
24Section 06, 2024 voteForm 8-K2024-04-180001628280-24-016803Item 5.07 · say-on-pay result. As reported: —. Filing ↗
25Section 06, 2025 voteForm 8-K2025-06-110001628280-25-030796Item 5.07 · say-on-pay result. As reported: 99.74% (votes for as printed: 249,497,414). Filing ↗
26Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
27Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
28Section 09b board cost (computed)ComputedcomputedCash 307,875 + equity 1,095,000 + all other 0 = 1,402,875, summed across the director compensation table rows.machine: formula: Σ = 1,402,875
29Freshworks, Section 10b CEO totalDEF 14A2026-04-090001544522-26-000075CEO total compensation as printed in Freshworks's own proxy. As printed: 15,623,481. Filing ↗machine: t32 · r2 · c11 · span 519804–519814
30Braze, Section 10b CEO totalDEF 14A2026-05-180001140361-26-021908CEO total compensation as printed in Braze's own proxy. As printed: 14,230,598. Filing ↗machine: r2 · c18 · span 550603–550613
31BlackLine, Section 10b CEO totalDEF 14A2026-03-250001628280-26-020925CEO total compensation as printed in BlackLine's own proxy. As printed: 11,614,676. Filing ↗machine: r2 · c54 · span 948504–948514
32Olo, Section 10b CEO totalDEF 14A2025-04-240001140361-25-015442CEO total compensation as printed in Olo's own proxy. As printed: 9,510,745. Filing ↗machine: r2 · c22 · span 831410–831419
33Domo, Section 10b CEO totalDEF 14A2026-06-010001628280-26-039549CEO total compensation as printed in Domo's own proxy. As printed: 9,465,244. Filing ↗machine: t13 · r2 · c14 · span 455747–455756
34Zuora, Section 10b CEO totalDEF 14A2024-05-160001423774-24-000146CEO total compensation as printed in Zuora's own proxy. As printed: 8,787,500. Filing ↗machine: r2 · c42 · span 699493–699502
35Yext, Section 10b CEO totalDEF 14A2026-04-270001628280-26-027491CEO total compensation as printed in Yext's own proxy. As printed: 8,693,973. Filing ↗machine: t15 · r2 · c19 · span 368568–368577
36Semrush Holdings, Inc. (subject), Section 10b CEO totalDEF 14A2025-04-170001628280-25-018235CEO total compensation as printed in Semrush Holdings, Inc.'s own proxy. As printed: 8,000,762. Filing ↗machine: t192 · r3 · c8 · span 780216–780225
37Sprout Social, Section 10b CEO totalDEF 14A2026-04-070001517375-26-000028CEO total compensation as printed in Sprout Social's own proxy. As printed: 7,848,570. Filing ↗machine: t65 · r2 · c7 · span 542149–542158
38Appian, Section 10b CEO totalDEF 14A2026-04-220001441683-26-000021CEO total compensation as printed in Appian's own proxy. As printed: 2,941,276. Filing ↗machine: r2 · c42 · span 416139–416148
39Expensify, Section 10b CEO totalDEF 14A2026-04-100001476840-26-000020CEO total compensation as printed in Expensify's own proxy. As printed: 1,903,704. Filing ↗machine: r2 · c14 · span 815741–815750
40Sprinklr, Section 10b CEO totalDEF 14A2026-05-010001140361-26-018552CEO total compensation as printed in Sprinklr's own proxy. As printed: 1,664,700. Filing ↗machine: r2 · c21 · span 559209–559218
41DigitalOcean Holdings, Section 10b CEO totalDEF 14A2026-04-240001582961-26-000029CEO total compensation as printed in DigitalOcean Holdings's own proxy. As printed: 1,210,795. Filing ↗machine: r2 · c42 · span 468499–468508
42Amplitude, Section 10b CEO totalDEF 14A2026-04-240001140361-26-016728CEO total compensation as printed in Amplitude's own proxy. As printed: 789,019. Filing ↗machine: r2 · c25 · span 614813–614820
43Squarespace, Section 10b CEO totalDEF 14A2024-04-220001496963-24-000017CEO total compensation as printed in Squarespace's own proxy. As printed: 552,146. Filing ↗machine: span 407836–407843
44Section 10a, Squarespace reciprocityDEF 14A0001496963-24-000017Squarespace's most recent proxy was read; its disclosed peer group does not include Semrush Holdings, Inc.. Filing ↗
45Section 10a, BlackLine reciprocityDEF 14A0001628280-26-020925BlackLine's most recent proxy was read; its disclosed peer group does not include Semrush Holdings, Inc.. Filing ↗
46Section 10a, Amplitude reciprocityDEF 14A0001140361-26-016728Amplitude names Semrush Holdings, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
47Section 10a, Domo reciprocityDEF 14A0001628280-26-039549Domo names Semrush Holdings, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
48Section 10a, Braze reciprocityDEF 14A0001140361-26-021908Braze names Semrush Holdings, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
49Section 10a, Olo reciprocityDEF 14A0001140361-25-015442Olo's most recent proxy was read; its disclosed peer group does not include Semrush Holdings, Inc.. Filing ↗
50Section 10a, Sprinklr reciprocityDEF 14A0001140361-26-018552Sprinklr's most recent proxy was read; its disclosed peer group does not include Semrush Holdings, Inc.. Filing ↗
51Section 10a, Sprout Social reciprocityDEF 14A0001517375-26-000028Sprout Social names Semrush Holdings, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
52Section 10a, Zuora reciprocityDEF 14A0001423774-24-000146Zuora's most recent proxy was read; its disclosed peer group does not include Semrush Holdings, Inc.. Filing ↗
53Section 10a, Freshworks reciprocityDEF 14A0001544522-26-000075Freshworks's most recent proxy was read; its disclosed peer group does not include Semrush Holdings, Inc.. Filing ↗