Velarion · Company Intelligence
Compensation Brief
Fiscal year 2021 · Filings through 2026-07-27

Switch (SWCH)

Fiscal year 2021 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.

$8,758,715
Rob Roy total, FY2021
CEO pay percentile vs peers
122:1
CEO-to-median pay ratio
94.83%
Say-on-pay support, latest vote
Companies that benchmark against SWCH
1 company names SWCH as a compensation peer

Each company listed discloses SWCH 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 SWCH 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 2021

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Rob Roy$1,046,000$0$5,739,984$0$1,496,970$475,761$8,758,715
Chief Executive Officer
Jonathan King127,692150,0005,066,000002495,343,941
Chief Revenue Officer
Thomas Morton808,00002,899,97201,156,359122,8954,987,226
President, Chief Legal Officer and Secretary
Gabe Nacht470,00001,399,9910457,39214,5182,341,901
Chief Financial Officer
Melissa Young333,6010259,9840274,99952,467921,051
Chief Information 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 officerFY2021 totalFY2020 totalFY2019 totalΔ FY20202021
Rob Roy$8,758,715
Jonathan King5,343,941
Thomas Morton4,987,226
Gabe Nacht2,341,901
Melissa Young921,051

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 2021

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Thomas MortonPSU2021-03-0376,800104,091153,600$2,899,968
Melissa YoungPSU2021-03-036,8859,33213,770259,984
Gabe NachtPSU2021-03-0337,07650,25174,1521,399,991
Rob RoyPSU2021-03-03152,012206,030304,0245,739,984
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Thomas Morton$0$2,899,968$0100.0%
Melissa Young0259,9840100.0%
Gabe Nacht01,399,9910100.0%
Rob Roy05,739,9840100.0%

% 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 2021

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Thomas MortonRSU72,742$2,083,331
Rob RoyRSU54,8251,570,188
Gabe NachtRSU35,1161,005,722
Thomas MortonRSU28,342811,715
Melissa YoungRSU13,125375,900
Rob RoyOption291,86417
Rob RoyOption207,5986.97
Rob RoyOption374,99014.95
Thomas MortonOption1,447,80517
Thomas MortonOption248,01614.95
Gabe NachtOption162,64717
Gabe NachtOption88,4176.97
Gabe NachtOption119,73114.95
Gabe NachtRSU23,350668,744
Melissa YoungRSU9,332267,268
Gabe NachtRSU30,534874,494
Melissa YoungOption193,57917
Rob RoyRSU199,5635,715,484
Melissa YoungPSU6,885197,186
Gabe NachtOption103,20110.66
Thomas MortonRSU104,0912,981,166
Rob RoyOption264,07810.66
Thomas MortonOption125,26310.66
Thomas MortonRSU37,0621,061,456
Gabe NachtPSU37,0761,061,857
Rob RoyRSU78,1342,237,758
Melissa YoungRSU8,750250,600
Gabe NachtRSU50,2511,439,189
Thomas MortonOption107,3196.97
Jonathan KingRSU175,0005,012,000
Rob RoyRSU109,9833,149,913
Rob RoyPSU152,0124,353,624
Thomas MortonPSU76,8002,199,552
Melissa YoungRSU25,000716,000
05

Incentive-plan design — the Compensation Discussion & Analysis

Our executive compensation program is guided by these objectives: Drive achievement of our goal, which is to enable the current and future compute needs of our customers and to facilitate technological advancement through smart and sustainable infrastructure solutions designed to support the most innovative technology ecosystems in the world; Attract and retain top talent by compensating competitively based on the executive's market value and performance; Align the interests of our executives with those of our stockholders

CEO STI target (% of salary)125%
CEO LTI target (% of salary)
Independent consultantFrederic W. Cook & Co., Inc.
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20212021-06-11179,942,9189,817,325540,83594.83%Passed
20202020-06-12159,927,57923,065,292679,43187.4%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.

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

Meeting yearMeeting dateApproval — company's computation
20212021-06-1194.83%a
20202020-06-1287.4%b

a. Approved under the standard stated in the filing — “Thus, the number of votes “for” must exceed the number of votes “against.” Abstentions are considered to be votes not cast on this proposal and thus will have no effect.”.

b. Approved under the standard stated in the filing — “Thus, the number of votes “for” must exceed the number of votes “against.” Abstentions are considered to be votes not cast on this proposal and thus will have no effect.”.

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.

07

CEO pay ratio

Ratio (CEO : median employee)122 : 1
CEO total compensation$8,758,715
Median employee compensation
08

Director compensation — fiscal year 2021

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Donald D. SnyderIndependent · Audit$112,500$199,992$0$0$0$312,492
Kim SheehyIndependent · Audit (Chair) · REIT Special Committee (Chair)109,110199,992000309,102
Bryan WolfIndependent · Compensation (Chair) · Audit · REIT Special Committee101,549199,992000301,541
Zareh SarrafianIndependent · Audit83,750199,992000283,742
Liane PelletierIndependent · REIT Special Committee77,799199,992000277,791
Angela ArchonIndependent · Compensation77,083199,992000277,075
Tom ThomasIndependent67,500199,992000267,492
Jason GenrichIndependent · REIT Special Committee25,833154,513000180,346
Rob RoyEmployee director · Board Chair00000
09

Board fee structure and ownership guideline

Annual cash retainer$67,500
Annual equity retainer$200,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)22,500 / 20,000 / 15,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2021
Cash retainers and fees$655,124
Equity awards (grant-date value)$1,554,457
All other compensation$0
Total cost of the board$2,209,581

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

10

Disclosed peer group — fiscal year 2021

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 Switch 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 Switch.

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
1Fair Isaac Corp.2025William Lansing$750,000$34,091,860$0$1,100,000$36,045,267
2Cogent Communications Holdings, Inc.2025Dave Schaeffer024,836,1760530,24325,372,519
3Monolithic Power Systems, Inc.2025Michael Hsing1,030,96212,686,33206,210,00019,930,736
4Manhattan Associates, Inc.2025Eric Clark706,66712,162,5510835,37516,762,928
5ViaSat, Inc.2026Mark Dankberg1,406,53810,305,39002,450,00014,208,178
6WEX Inc.2025Melissa Smith975,00012,361,4380013,446,221
7Aspen Technology, Inc.2024Antonio Pietri750,00010,115,5480664,63911,541,446
8Entegris, Inc.2025David Reeder432,4047,232,0073,329,868308,51511,507,888
9Progress Software Corporation2025Yogesh Gupta649,0387,043,1271,800,010845,00010,534,808
10Tyler Technologies, Inc.2025H. Lynn Moore, Jr.675,0008,173,649008,858,370
11Switch2021Rob Roy1,046,0005,739,98401,496,9708,758,715
12InterDigital, Inc.2025Liren Chen750,3843,999,9991,333,3331,691,0007,847,557
13Universal Display Corporation2026Preston Wigner828,8001,849,5320215,9003,179,995
ATN International, Inc.not in coverage universe
Ebix, Inc.not in coverage universe
Shenandoah Telecommunications Co.not in coverage universe
QTS Realty Trust, Inc.not in coverage universe
Consolidated Communications Holdings, Inc.not 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
Switch114.5%RSU 50 · PSU 50Yes — Three-year relative TSRFrederic W. Cook & Co., Inc.
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 50NoWillis Towers Watson (WTW)
ATN International, Inc.not disclosednot disclosednot disclosednot disclosed
Cogent Communications Holdings, Inc.106%not disclosedNoCompensia
Consolidated Communications Holdings, Inc.not disclosednot disclosednot disclosednot disclosed
Ebix, Inc.not disclosedRSU 100not disclosedErnst & Young LLP
Entegris, Inc.69.0%RSU 40 · Options 30 · PSU 30Yes — Relative TSRFW Cook
Fair Isaac Corp.147%PSU 33 · RSU 33 · Other 33NoCompensia, Inc.
InterDigital, Inc.178%Options 33NoFW Cook
Manhattan Associates, Inc.118%RSU 50 · PSU 50NoWillis Towers Watson
Monolithic Power Systems, Inc.400%PSU 100Yes — Relative TSR vs. PHLX IndexRadford
Progress Software Corporation130%PSU 50 · RSU 30 · Options 20Yes — Relative TSRPay Governance
QTS Realty Trust, Inc.not disclosednot disclosednot disclosednot disclosed
Shenandoah Telecommunications Co.not disclosednot disclosednot disclosednot disclosed
Tyler Technologies, Inc.120%PSU 80 · RSU 20NoRadford
Universal Display Corporation26%PSU 50 · RSU 50NoMeridian Compensation Partners
ViaSat, Inc.121%RSU 50 · PSU 25 · Cash LTI 25Yes — Relative Total Shareholder Return (TSR) vs. Russell 3000 IndexCompensia
WEX Inc.not disclosedPRSU 60 · MSU 20 · RSU 20not disclosedCompensation Advisory Partners 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.

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, Rob RoyDEF 14A2022-04-280001193125-22-125136Section “Summary Compensation Table” · page 40. As printed: 8,758,715. Filing ↗machine: t137 · span 427436–427445
2Section 01, Jonathan KingDEF 14A2022-04-280001193125-22-125136Section “Summary Compensation Table” · page 40. As printed: 5,343,941. Filing ↗machine: t137 · r13 · c31 · span 443743–443752
3Section 01, Thomas MortonDEF 14A2022-04-280001193125-22-125136Section “Summary Compensation Table” · page 40. As printed: 4,987,226. Filing ↗machine: t137 · r5 · c31 · span 431818–431827
4Section 01, Gabe NachtDEF 14A2022-04-280001193125-22-125136Section “Summary Compensation Table” · page 40. As printed: 2,341,901. Filing ↗machine: t137 · r8 · c31 · span 436224–436233
5Section 01, Melissa YoungDEF 14A2022-04-280001193125-22-125136Section “Summary Compensation Table” · page 40. As printed: 921,051. Filing ↗machine: t137 · r11 · c31 · span 440639–440646
6Section 03, Thomas Morton PSUDEF 14A2022-04-280001193125-22-125136Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t138 · r0 · c1 · span 445910–445919
7Section 03, Melissa Young PSUDEF 14A2022-04-280001193125-22-125136Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t142 · r11 · c35 · span 470133–470140
8Section 03, Gabe Nacht PSUDEF 14A2022-04-280001193125-22-125136Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t137 · r8 · c15 · span 435598–435607
9Section 03, Rob Roy PSUDEF 14A2022-04-280001193125-22-125136Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t137 · r2 · c15 · span 426807–426816
10Section 07, pay ratioDEF 14A2022-04-280001193125-22-125136Section “CEO Pay Ratio”. As printed: 122 : 1. Filing ↗machine: span 130440–130443
11Section 08, Donald D. SnyderDEF 14A2022-04-280001193125-22-125136Section “Director Compensation”. As printed: 312,492. Filing ↗machine: span 596713–596720
12Section 08, Kim SheehyDEF 14A2022-04-280001193125-22-125136Section “Director Compensation”. As printed: 309,102. Filing ↗machine: span 595799–595806
13Section 08, Bryan WolfDEF 14A2022-04-280001193125-22-125136Section “Director Compensation”. As printed: 301,541. Filing ↗machine: span 598546–598553
14Section 08, Zareh SarrafianDEF 14A2022-04-280001193125-22-125136Section “Director Compensation”. As printed: 283,742. Filing ↗machine: span 594873–594880
15Section 08, Liane PelletierDEF 14A2022-04-280001193125-22-125136Section “Director Compensation”. As printed: 277,791. Filing ↗machine: span 593961–593968
16Section 08, Angela ArchonDEF 14A2022-04-280001193125-22-125136Section “Director Compensation”. As printed: 277,075. Filing ↗machine: span 592121–592128
17Section 08, Tom ThomasDEF 14A2022-04-280001193125-22-125136Section “Director Compensation”. As printed: 267,492. Filing ↗machine: span 597638–597645
18Section 08, Jason GenrichDEF 14A2022-04-280001193125-22-125136Section “Director Compensation”. As printed: 180,346. Filing ↗machine: span 593031–593038
19Section 08, Rob RoyDEF 14A2022-04-280001193125-22-125136Section “Director Compensation”. As printed: 0. Filing ↗
20Section 06, 2021 voteForm 8-K2021-06-170001710583-21-000027Item 5.07 · say-on-pay result. As reported: 94.83%. Filing ↗
21Section 06, 2020 voteForm 8-K2020-06-180001710583-20-000020Item 5.07 · say-on-pay result. As reported: 87.4% (votes for as printed: 159,927,579). Filing ↗machine: span 54380–60228
22Section 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
23Section 09b board cost (computed)ComputedcomputedCash 655,124 + equity 1,554,457 + all other 0 = 2,209,581, summed across the director compensation table rows.machine: formula: Σ = 2,209,581
24Fair Isaac Corp., Section 10b CEO totalDEF 14A2026-01-270001193125-26-024403CEO total compensation as printed in Fair Isaac Corp.'s own proxy. As printed: 36,045,267. Filing ↗machine: r3 · c35 · span 1413656–1413666
25Cogent Communications Holdings, Inc., Section 10b CEO totalDEF 14A2026-03-200001104659-26-032744CEO total compensation as printed in Cogent Communications Holdings, Inc.'s own proxy. As printed: 25,372,519. Filing ↗machine: t9 · r1 · c50 · span 637789–637799
26Monolithic Power Systems, Inc., Section 10b CEO totalDEF 14A2026-04-300001437749-26-014084CEO total compensation as printed in Monolithic Power Systems, Inc.'s own proxy. As printed: 19,930,736. Filing ↗machine: r1 · c25 · span 663335–663345
27Manhattan Associates, Inc., Section 10b CEO totalDEF 14A2026-04-020001193125-26-140024CEO total compensation as printed in Manhattan Associates, Inc.'s own proxy. As printed: 16,762,928. Filing ↗machine: t17 · r6 · c12 · span 294034–294044
28ViaSat, Inc., Section 10b CEO totalDEF 14A2026-07-270001193125-26-318060CEO total compensation as printed in ViaSat, Inc.'s own proxy. As printed: 14,208,178. Filing ↗machine: r2 · c39 · span 764367–764377
29WEX Inc., Section 10b CEO totalDEF 14A2026-04-030001213900-26-040033CEO total compensation as printed in WEX Inc.'s own proxy. As printed: 13,446,221. Filing ↗machine: span 1966596–1966606
30Aspen Technology, Inc., Section 10b CEO totalDEF 14A2024-10-240001897982-24-000062CEO total compensation as printed in Aspen Technology, Inc.'s own proxy. As printed: 11,541,446. Filing ↗machine: r2 · c24 · span 565955–565965
31Entegris, Inc., Section 10b CEO totalDEF 14A2026-03-230001101302-26-000054CEO total compensation as printed in Entegris, Inc.'s own proxy. As printed: 11,507,888. Filing ↗machine: t162 · r2 · c15 · span 1085053–1085063
32Progress Software Corporation, Section 10b CEO totalDEF 14A2026-03-250001552781-26-000161CEO total compensation as printed in Progress Software Corporation's own proxy. As printed: 10,534,808. Filing ↗machine: r1 · c7 · span 612818–612828
33Tyler Technologies, Inc., Section 10b CEO totalDEF 14A2026-03-230000860731-26-000022CEO total compensation as printed in Tyler Technologies, Inc.'s own proxy. As printed: 8,858,370. Filing ↗machine: t205 · r9 · c16 · span 1010313–1010322
34Switch (subject), Section 10b CEO totalDEF 14A2022-04-280001193125-22-125136CEO total compensation as printed in Switch's own proxy. As printed: 8,758,715. Filing ↗machine: t137 · span 427436–427445
35InterDigital, Inc., Section 10b CEO totalDEF 14A2026-04-300001405495-26-000043CEO total compensation as printed in InterDigital, Inc.'s own proxy. As printed: 7,847,557. Filing ↗machine: t37 · r2 · c14 · span 599524–599533
36Universal Display Corporation, Section 10b CEO totalDEF 14A2026-07-010001628280-26-046310CEO total compensation as printed in Universal Display Corporation's own proxy. As printed: 3,179,995. Filing ↗machine: t40 · r4 · c16 · span 621641–621650
37Section 10a, Tyler Technologies, Inc. reciprocityDEF 14A0000860731-26-000022Tyler Technologies, Inc.'s most recent proxy was read; its disclosed peer group does not include Switch. Filing ↗
38Section 10a, Aspen Technology, Inc. reciprocityDEF 14A0001897982-24-000062Aspen Technology, Inc.'s most recent proxy was read; its disclosed peer group does not include Switch. Filing ↗
39Section 10a, Entegris, Inc. reciprocityDEF 14A0001101302-26-000054Entegris, Inc.'s most recent proxy was read; its disclosed peer group does not include Switch. Filing ↗
40Section 10a, InterDigital, Inc. reciprocityDEF 14A0001405495-26-000043InterDigital, Inc.'s most recent proxy was read; its disclosed peer group does not include Switch. Filing ↗
41Section 10a, Manhattan Associates, Inc. reciprocityDEF 14A0001193125-26-140024Manhattan Associates, Inc.'s most recent proxy was read; its disclosed peer group does not include Switch. Filing ↗
42Section 10a, WEX Inc. reciprocityDEF 14A0001213900-26-040033WEX Inc.'s most recent proxy was read; its disclosed peer group does not include Switch. Filing ↗
43Section 10a, Cogent Communications Holdings, Inc. reciprocityDEF 14A0001104659-26-032744Cogent Communications Holdings, Inc.'s most recent proxy was read; its disclosed peer group does not include Switch. Filing ↗
44Section 10a, Universal Display Corporation reciprocityDEF 14A0001628280-26-046310Universal Display Corporation's most recent proxy was read; its disclosed peer group does not include Switch. Filing ↗