Similarweb Seeks Shareholder Approval for New CEO's $10M Equity Package
SMWB has more than doubled off its 52-week low of $2.22 on light trading volume (0.4× avg).
Summary
Similarweb filed proxy materials for a November 16 special meeting to approve new CEO Michael Akkerman's compensation, including a ~$10M equity award representing ~1.25% of the company.
Key Events · Executive and Board Changes · SMWB
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CEO Compensation Vote Set for Nov 16
Special General Meeting scheduled for November 16, 2026, with a record date of October 8, 2026, to approve Michael Akkerman's compensation terms under Israeli law.
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$10M Target Equity Award
Package includes ~$10M in target equity (30% RSUs, 50% operating PSUs, 20% market PSUs), representing approximately 1.25% of the company on a fully diluted basis.
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Performance-Based Structure
70% of equity is performance-based: operating PSUs tied to FY2027-FY2029 revenue/EBITDA targets, and market PSUs requiring share price milestones of $15, $20, $25, and $30 — well above the current $8.13 price.
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Cash Compensation Terms
Base salary of $550,000, target annual bonus of 100% of salary, and a one-time $500,000 sign-on bonus subject to 12-month clawback.
Analysis · SMWB · Technology
Similarweb is asking shareholders to approve a compensation package for incoming CEO Michael Akkerman that includes a $10 million target equity award — roughly 1.25% of the company on a fully diluted basis — plus $550,000 base salary, a 100% target bonus, and a $500,000 sign-on bonus. The vote is binding under Israeli law, not advisory. The equity is heavily performance-based: 70% is tied to revenue/EBITDA targets and share price milestones of $15 to $30, well above the current $8.13 price. This aligns the new CEO's pay with a substantial recovery in the stock, but the grant itself is a meaningful dilution event for existing holders if those milestones are hit.
How filings like this one have moved
In the 30 days to Oct 8, 2026, 28.8% of the 1700 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.60%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, SMWB was trading at $8.13 on NYSE in the Technology sector, with a market capitalization of approximately $712.2M. The 52-week trading range was $2.22 to $9.50. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.