Spotify Government Compensation: Daybreak Ostroff Exit Bundle Revealed

Daybreak Ostroff, Spotify’s former chief content material and promoting enterprise officer who led the corporate’s podcast enlargement, will probably be entitled to 9 months of her $1 million base wage as a part of her exit bundle with the audio big, in accordance with paperwork filed with the Securities and Change Fee on Thursday.

Ostroff’s departure was first revealed Jan. 23 by Spotify CEO Daniel Ek as a part of a serious spherical of layoffs and government reorganization. Although she is anticipated to stay with Spotify in an advisory function, Ostroff’s final day within the government place was Jan. 31, in accordance with the securities filings.

As a part of her separation settlement, which features a non-compete clause, Ostroff will obtain her $1 million base wage, COBRA well being advantages and vesting of her equity- and cash-based long-term incentive awards by way of April 17 in lieu of the three-month discover interval that was included in her employment settlement. After that interval, Ostroff will probably be entitled to obtain a further six months of her base wage, well being advantages and 6 months of accelerated vesting of her long-term incentive awards. The precise quantity of Ostroff’s complete exit compensation will largely be influenced by Spotify’s inventory worth over time.

In the identical securities submitting, Spotify additionally revealed that Ostroff acquired just below $7.5 million in compensation throughout 2022, with nearly all of that government payday coming from inventory awards and the corporate’s incentive program.

Alex Norström, the previous chief freemium enterprise officer who’s now overseeing content material as a part of his new place as chief enterprise officer and co-president, acquired about $9.2 million in compensation throughout 2022. $325,000 of the pay was Norström’s base wage, whereas the bulk got here from possibility awards and inventory awards.

Gustav Söderström, Spotify’s former chief analysis and growth officer, acquired $14.16 million in compensation; $312,500 got here from Söderström’s base wage, whereas the rest of his government pay got here from possibility awards. The manager now serves as Spotify’s co-president and chief product and expertise officer.

Ek’s compensation for 2022 amounted to $181,085 for dwelling safety prices. The highest government notably has not taken a base wage since 2017 and has not acquired a bonus since 2020.