David Stephenson is slated to become Airbnb chief business officer January 1, but he will also be CFO through the end of February. His last earnings call as CFO would be in mid-February.
Airbnb’s departing Global Head of Hosting Catherine Powell will receive her current base salary and her outstanding equity awards will continue to vest as she stays on in an advisory role through June 30, 2024.
This was included in a financial filing Friday that also covers compensation details for other recent C-Suite changes: Chief Financial Officer David Stephenson will become chief business officer, and Vice President of Finance Ellie Mertz will become CFO.
Airbnb CEO Brian Chesky announced the changes Monday and told employees the company is at an inflection point. He said Airbnb needs to drive growth beyond its core business, and noted international expansion.
Powell’s compensation package would include also include 12 months of her base salary in one lump sum payment, and a year’s worth of her COBRA premiums in single payment. In addition, her outstanding equity awards would vest and she would be able to exercise them as though she had been employed by the company through December 31, 2024.
New CFO Ellie Mertz Was Granted 16,160 Restricted Stock Units
Ellie Mertz, who is scheduled to become Airbnb CFO on March 1, will receive $600,000 as her annual base salary and would be in line for an annual bonus target of $450,000, or 75% of her base salary.
Mertz also received a grant of 16,160 restricted stock units, which vest over four years. At Airbnb’s closing stock price on December 4, they they would be worth $2.16 million, though actual value will depend on the future stock price.
New Chief Business Officer David Stephenson Was Granted 4,040 Restricted Stock Units
Stephenson will remain CFO until March, but will assume his new role of chief business officer on January 1.
Airbnb granted Stephenson 4,040 restricted stock units, which vest over four years. The value of those shares on December 4 would be roughly $540,000.