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Datto CFO Reported Nearly $12M In Total Compensation In 2020

This is the first time the Norwalk, Conn.-based MSP-focused technology firm has reported executive compensation as a public company.

Datto Chief Financial Officer John Abbot reported nearly $12 million in total compensation in 2020 — the most sizeable pay package of any named executive officer at the MSP-focused technology firm — according to a regulatory filing this week.

Abbot, 58, joined the company in March 2020, months before it went public.

Abbot’s total compensation of $11.85 million came from $496,154 in salary, $10.8 million in option awards that vest over time, $339,297 in non-equity incentive plan compensation, and $6,923 in other compensation, according to the proxy statement filed Monday by the Norwalk, Conn.-based firm.

The Harvard Business School-educated Abbot was recruited to Datto from Cumulus Media Inc., an audio-first media and entertainment company, where he helped lead Cumulus through its Chapter 11 bankruptcy reorganization.

[RELATED: Datto Acquires BitDam In Bid For SMB MSP Cyber Threat Protection]

Chief Technology Officer Bob Petrocelli, 55, reported the second-highest total compensation of $11.65 million, including $400,000 in salary, $4 million in option awards, $211,416 in non-equity incentive plan compensation, and $12,825 in other compensation. Petrocelli joined the company in July 2019 from Oracle, where he served as senior software architect.

Datto CEO Tim Weller, 55, reported total compensation of $956,100, including $600,000 in salary, $343,275 in non-equity incentive plan compensation, and $12,825 in other compensation.

According to the proxy statement, Datto’s stock option plan was originally adopted by its board and approved by shareholders in connection with Vista Equity Partners’ $1.5 billion acquisition of Datto in 2017.

Datto went public last October on the New York Stock Exchange under the symbol “MSP.” The stock is up about 1 percent so far this year to $25.37 with a total market cap of $4.09 billion.

The company, which reported $518.8 million in revenue as of Dec. 31, 2020, partnered with more than 17,000 MSPs serving over 1.5 million SMBs across more than 25 countries.

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