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

Switch (SWCH)

CEO Rob Roy was paid $8,758,715 in fiscal year 2021, the 29th percentile of its disclosed peer group (SEC filing 0001193125-22-125136 ↗): 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
29th
CEO pay percentile vs peers
122:1
CEO-to-median pay ratio
94.83%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Rob Roy (Chief Executive Officer), FY2021 total compensation $8,758,715 (base salary $1,046,000) [exec_comp, SEC accession 0001193125-22-125136, filed 2022-04-28]

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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 King127,692150,0005,066,00000—2495,343,941
Chief Revenue Officer
Thomas Morton808,00002,899,97201,156,359—122,8954,987,226
President, Chief Legal Officer and Secretary
Gabe Nacht470,00001,399,9910457,392—14,5182,341,901
Chief Financial Officer
Melissa Young333,6010259,9840274,999—52,467921,051
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 FY2020→2021
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.

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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.

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
Rob RoyPSU2021-03-03—152,012206,030304,024$5,739,984
Jonathan KingRSU———200,000—5,066,000
Gabe NachtPSU2021-03-03—37,07650,25174,1521,399,991
Melissa YoungPSU2021-03-03—6,8859,33213,770259,984
Thomas MortonPSU2021-03-03—76,800104,091153,6002,899,968
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Rob Roy$0$5,739,984$0100.0%
Jonathan King5,066,000000.0%
Gabe Nacht01,399,9910100.0%
Melissa Young0259,9840100.0%
Thomas Morton02,899,9680100.0%

% 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 RoyRSU54,825—1,570,188
Gabe NachtRSU35,116—1,005,722
Thomas MortonRSU28,342—811,715
Melissa YoungRSU13,125—375,900
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 NachtRSU23,350—668,744
Melissa YoungRSU9,332—267,268
Gabe NachtRSU30,534—874,494
Melissa YoungOption193,57917—
Rob RoyRSU199,563—5,715,484
Melissa YoungPSU6,885—197,186
Gabe NachtOption103,20110.66—
Thomas MortonRSU104,091—2,981,166
Rob RoyOption264,07810.66—
Thomas MortonOption125,26310.66—
Thomas MortonRSU37,062—1,061,456
Gabe NachtPSU37,076—1,061,857
Rob RoyRSU78,134—2,237,758
Melissa YoungRSU8,750—250,600
Gabe NachtRSU50,251—1,439,189
Thomas MortonOption107,3196.97—
Jonathan KingRSU175,000—5,012,000
Rob RoyRSU109,983—3,149,913
Rob RoyPSU152,012—4,353,624
Thomas MortonPSU76,800—2,199,552
Melissa YoungRSU25,000—716,000
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 Chair000—00
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 Clark710,00013,000,3280835,37516,697,528
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
13Ebix, Inc.2021Robin Raina00003,604,350
14Universal Display Corporation2026Preston Wigner828,8001,849,5320215,9003,179,995
15ATN International, Inc.2025Brad Martin545,1921,930,7770546,0003,035,458
—Shenandoah Telecommunications Co.——————not in coverage universe
—Consolidated Communications Holdings, Inc.——————not in coverage universe
—QTS Realty Trust, 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%)%RSU 50 · PSU 50NoWillis Towers Watson (WTW)
ATN International, Inc.not disclosedRSU 50 · PSU 50not disclosedCompensia
Cogent Communications Holdings, Inc.106%not disclosedNoCompensia
Consolidated Communications Holdings, Inc.not disclosednot disclosednot disclosednot disclosed
Ebix, Inc.not disclosednot disclosednot disclosedErnst & Young LLP
Entegris, Inc.69.0%RSU 40 · Option 30 · PSU 30Yes — Relative TSRFW Cook
Fair Isaac Corp.not disclosedPSU 33 · RSU 33 · Other 33NoCompensia, Inc.
InterDigital, Inc.178%PSU 50 · RSU 50NoFW 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 · Option 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 65 · MSU 35 · RSU 20Yes — Relative TSR MetricCompensation 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.

10d

Frequently asked questions

Who was the highest-paid executive at Switch in fiscal 2021?
As disclosed, Rob Roy (Chief Executive Officer) was the highest-paid executive at Switch in fiscal 2021, with total compensation of $8,758,715.
How does Switch's chief executive pay compare to its disclosed peer group?
As disclosed, Rob Roy's total compensation ranked at the 29th percentile of Switch's disclosed peer group.
What is Switch's CEO-to-median employee pay ratio?
As disclosed, Switch's CEO-to-median employee pay ratio was 122:1.
How did shareholders vote on Switch's executive compensation?
As disclosed, 94.83% of shareholders supported Switch's executive compensation in the latest say-on-pay vote.
How much does Switch spend in total on board compensation for fiscal 2021?
As disclosed, Switch reported total board compensation of $2,209,581 for fiscal 2021.

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 is listed with the filing it comes from, where it appears in that filing, and the value as printed. 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. View filing ↗
2Section 01, Jonathan KingDEF 14A2022-04-280001193125-22-125136Section “Summary Compensation Table” · page 40. As printed: 5,343,941. View filing ↗
3Section 01, Thomas MortonDEF 14A2022-04-280001193125-22-125136Section “Summary Compensation Table” · page 40. As printed: 4,987,226. View filing ↗
4Section 01, Gabe NachtDEF 14A2022-04-280001193125-22-125136Section “Summary Compensation Table” · page 40. As printed: 2,341,901. View filing ↗
5Section 01, Melissa YoungDEF 14A2022-04-280001193125-22-125136Section “Summary Compensation Table” · page 40. As printed: 921,051. View filing ↗
6Section 03, Rob Roy PSUDEF 14A2022-04-280001193125-22-125136Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
7Section 03, Jonathan King RSUDEF 14A2022-04-280001193125-22-125136Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
8Section 03, Gabe Nacht PSUDEF 14A2022-04-280001193125-22-125136Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
9Section 03, Melissa Young PSUDEF 14A2022-04-280001193125-22-125136Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
10Section 03, Thomas Morton PSUDEF 14A2022-04-280001193125-22-125136Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
11Section 07, pay ratioDEF 14A2022-04-280001193125-22-125136Section “CEO Pay Ratio”. As printed: 122 : 1. View filing ↗
12Section 08, Donald D. SnyderDEF 14A2022-04-280001193125-22-125136Section “Director Compensation”. As printed: 312,492. View filing ↗
13Section 08, Kim SheehyDEF 14A2022-04-280001193125-22-125136Section “Director Compensation”. As printed: 309,102. View filing ↗
14Section 08, Bryan WolfDEF 14A2022-04-280001193125-22-125136Section “Director Compensation”. As printed: 301,541. View filing ↗
15Section 08, Zareh SarrafianDEF 14A2022-04-280001193125-22-125136Section “Director Compensation”. As printed: 283,742. View filing ↗
16Section 08, Liane PelletierDEF 14A2022-04-280001193125-22-125136Section “Director Compensation”. As printed: 277,791. View filing ↗
17Section 08, Angela ArchonDEF 14A2022-04-280001193125-22-125136Section “Director Compensation”. As printed: 277,075. View filing ↗
18Section 08, Tom ThomasDEF 14A2022-04-280001193125-22-125136Section “Director Compensation”. As printed: 267,492. View filing ↗
19Section 08, Jason GenrichDEF 14A2022-04-280001193125-22-125136Section “Director Compensation”. As printed: 180,346. View filing ↗
20Section 08, Rob RoyDEF 14A2022-04-280001193125-22-125136Section “Director Compensation”. As printed: 0. View filing ↗
21Section 06, 2021 voteForm 8-K2021-06-170001710583-21-000027Item 5.07 · say-on-pay result. As reported: 94.83%. View filing ↗
22Section 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). View filing ↗
23Section 03b vehicle mix (computed)Computed——RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
24Section 09b board cost (computed)Computed——Cash 655,124 + equity 1,554,457 + all other 0 = 2,209,581, summed across the director compensation table rows.
25Fair 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. View filing ↗
26Cogent 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. View filing ↗
27Monolithic 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. View filing ↗
28Manhattan Associates, Inc., Section 10b CEO totalDEF 14A2026-04-020001193125-26-140024CEO total compensation as printed in Manhattan Associates, Inc.'s own proxy. As printed: 16,697,528. View filing ↗
29ViaSat, 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. View filing ↗
30WEX 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. View filing ↗
31Aspen 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. View filing ↗
32Entegris, 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. View filing ↗
33Progress 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. View filing ↗
34Tyler 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. View filing ↗
35Switch (subject), Section 10b CEO totalDEF 14A2022-04-280001193125-22-125136CEO total compensation as printed in Switch's own proxy. As printed: 8,758,715. View filing ↗
36InterDigital, 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. View filing ↗
37Ebix, Inc., Section 10b CEO totalDEF 14A2022-10-180001104659-22-109688CEO total compensation as printed in Ebix, Inc.'s own proxy. As printed: 3,604,350. View filing ↗
38Universal 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. View filing ↗
39ATN International, Inc., Section 10b CEO totalDEF 14A2026-04-290001104659-26-050554CEO total compensation as printed in ATN International, Inc.'s own proxy. As printed: 3,035,458. View filing ↗
40Section 10a, Tyler Technologies, Inc. reciprocityDEF 14A—0000860731-26-000022Tyler Technologies, Inc.'s most recent proxy was read; its disclosed peer group does not include Switch. View filing ↗
41Section 10a, Aspen Technology, Inc. reciprocityDEF 14A—0001897982-24-000062Aspen Technology, Inc.'s most recent proxy was read; its disclosed peer group does not include Switch. View filing ↗
42Section 10a, Entegris, Inc. reciprocityDEF 14A—0001101302-26-000054Entegris, Inc.'s most recent proxy was read; its disclosed peer group does not include Switch. View filing ↗
43Section 10a, InterDigital, Inc. reciprocityDEF 14A—0001405495-26-000043InterDigital, Inc.'s most recent proxy was read; its disclosed peer group does not include Switch. View filing ↗
44Section 10a, WEX Inc. reciprocityDEF 14A—0001213900-26-040033WEX Inc.'s most recent proxy was read; its disclosed peer group does not include Switch. View filing ↗
45Section 10a, Universal Display Corporation reciprocityDEF 14A—0001628280-26-046310Universal Display Corporation's most recent proxy was read; its disclosed peer group does not include Switch. View filing ↗
46Section 10a, ATN International, Inc. reciprocityDEF 14A—0001104659-26-050554ATN International, Inc.'s most recent proxy was read; its disclosed peer group does not include Switch. View filing ↗
47Section 10a, Cogent Communications Holdings, Inc. reciprocityDEF 14A—0001104659-26-032744Cogent Communications Holdings, Inc.'s most recent proxy was read; its disclosed peer group does not include Switch. View filing ↗
48Section 10a, Ebix, Inc. reciprocityDEF 14A—0001104659-22-109688Ebix, Inc.'s most recent proxy was read; its disclosed peer group does not include Switch. View filing ↗
49Section 10a, Fair Isaac Corp. reciprocityDEF 14A—0001193125-25-013338Fair Isaac Corp.'s most recent proxy was read; its disclosed peer group does not include Switch. View filing ↗
50Section 10a, Manhattan Associates, Inc. reciprocityDEF 14A—0001193125-26-140024Manhattan Associates, Inc.'s most recent proxy was read; its disclosed peer group does not include Switch. View filing ↗
51Section 10a, Progress Software Corporation reciprocityDEF 14A—0001552781-26-000161Progress Software Corporation's most recent proxy was read; its disclosed peer group does not include Switch. View filing ↗