Company: IOT
Filing Date: 2025-06-02
Form Type: DEF 14A
Source: 0001642896-25-000046
Chunk: 44

Company: Samsara Inc.
Filing Date: 2025-06-02
Form: DEF 14A
Chunk 44
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 stockholders, provide our named executive officers with incentives linked to long-term performance, and foster an ownership mentality. In addition, the long-term vesting features of our equity awards support our belief in management longevity because they create retentive hold. Generally, we intend to grant annual equity awards that are sized to be competitive, transparent and reflect the performance, contribution, and criticality of each named executive officer’s role in our company.

For FY 2025, our compensation committee set the terms and conditions of our CEO and Executive Vice Presidents’ equity incentive compensation so that their total compensation was competitive with the total target compensation of our FY 2025 peer group, with certain adjustments made based on the market, executive performance and the current unvested equity holdings of each executive. The compensation committee approved an enhanced equity award value for our CFO, Mr. Phillips, due to his critical role and strong performance, his low long-term unvested equity holding and the competitiveness of the market.

For FY 2025, we also shifted our standard equity vesting schedule from three to four years for employees at the Vice President level and above, and proportionately increased the associated annual target, in order to ensure competitiveness in recruiting senior-level employees and better promote long-term ownership and retention. On March 6, 2024, we granted restricted stock units to our named executive officers in accordance with our 2021 Equity Incentive Plan. The awards vest over a period of approximately four years in 16 quarterly installments, with the first quarterly vest event on June 10, 2024 for each NEO other than Mr. Phillips, whose award has a first quarterly vest event on March 15, 2024 due to the considerations referenced above. We believe this straightforward approach to equity compensation closely aligns the interests of our executives and our stockholders and incentivizes executives to focus on long-term value creation.

The number of shares of our common stock covered by each RSU award granted to our named executive officers in FY 2025 as well as the grant-date fair values of those awards are as set forth in the chart below. Unless otherwise noted below, to calculate the number of RSUs granted, the proposed grant value was divided by the 20-day trailing average closing stock price of Samsara shares as of March 6, 2024, which was $33.80. The column titled “Grant-Date Fair Value” represents the fair value of the grants calculated as of the grant date, March 6, 2024,