Business Context and Reporting Period
This Form 8-K was filed by A10 Networks, Inc. on January 25, 2022. The report details the completion of the annual executive compensation review by the Compensation Committee, covering 2021 performance payouts and establishing 2022 compensation targets.
Key Financial Metrics
The filing does not provide company-wide financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The only financial data disclosed relates to specific executive compensation amounts.
| Executive | 2021 Cash Bonus Payout | 2022 Base Salary | 2022 Target Bonus |
|---|---|---|---|
| Dhrupad Trivedi (CEO) | $840,000 | $650,000 | $650,000 |
| Brian Becker (CFO) | $210,000 | $310,000 | $155,000 |
| Matt Bruening (EVP Sales & Marketing) | $448,000 | $340,000 | $340,000 |
| Robert Cochran (EVP Legal) | $211,220 | $301,744 | $150,872 |
Material Changes
The filing confirms the payout of 2021 bonuses and establishes new 2022 base salaries effective February 1, 2022. The 2022 target bonus amounts are set as percentages of the new base salaries (ranging from 50% to 100%).
Guidance, Outlook, and Risks
Actual cash payouts under the 2022 Executive Incentive Plan are contingent upon the achievement of specific Company revenue and adjusted EBITDA performance goals approved by the Compensation Committee. The filing does not provide specific numerical targets for these goals or discuss broader market risks.
Investor Verification Points
- Verify the specific revenue and adjusted EBITDA targets required to trigger the 2022 executive bonuses.
- Confirm the total aggregate cost of the 2021 bonus payouts against the company's cash flow position.
- Review the 2022 Executive Incentive Plan document for detailed performance metrics and clawback provisions.