Splunk’s Most Highly Compensated Executives In Fiscal 2023
CRN breaks down the compensation of Splunk’s top seven highest paid executives – collectively earning more than $107 million – in the recently concluded fiscal 2023.
Splunk, founded in 2003 and based in San Francisco, develops technology used to collect, index and search machine-generated data. In recent years the company has focused on marketing its platform for unified security and observability applications.
Splunk is publicly held and for its fiscal 2023 (ended Jan. 31) the company reported revenue of $3.65 billion, up nearly 37 percent from $2.67 billion in fiscal 2022.
But the company has reported bottom-line losses for many years, included losses of $908.0 million in fiscal 2021 and $1.34 billion in fiscal 2022 when the company struggled amid the COVID-19 pandemic and the resulting economic upheaval. (Splunk’s loss in fiscal 2023 narrowed to $277.9 million and the company recorded a $268.8 million profit in the fourth quarter.)
In February Splunk laid off about 4 percent of its workforce or about 325 employees
In fiscal 2023 the seven executives earned a total of $107.3 million including salary, bonuses, stock awards and other compensation. Here we take a closer look at those compensation numbers.
The fiscal years covered here include the second half of calendar 2021 and the first half of calendar 2022 when a significant number of Splunk’s top executives, including CEO Doug Merritt, left the company. Some, including President and Chief Growth Officer Teresa Carlson and President of Products and Technology Shawn Bice, were with the company for only a year or so, but their terms spanned two fiscal years.
Here’s a breakdown of the fiscal 2023 total compensation of Splunk’s top seven executives as reported in the company’s U.S. Securities and Exchange Commission filing, ranked from the lowest compensation to the highest.