Model N Management

Management criteria checks 3/4

We currently do not have sufficient information about the CEO.

Key information

Jason Blessing

Chief executive officer

US$6.9m

Total compensation

CEO salary percentage	8.1%
CEO tenure	6yrs
CEO ownership	2.3%
Management average tenure	5.1yrs
Board average tenure	6yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Jason Blessing's remuneration changed compared to Model N's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	n/a	n/a	-US$32m
Sep 30 2023	US$7m	US$557k	-US$34m
Jun 30 2023	n/a	n/a	-US$43m
Mar 31 2023	n/a	n/a	-US$52m
Dec 31 2022	n/a	n/a	-US$26m
Sep 30 2022	US$7m	US$530k	-US$29m
Jun 30 2022	n/a	n/a	-US$27m
Mar 31 2022	n/a	n/a	-US$28m
Dec 31 2021	n/a	n/a	-US$31m
Sep 30 2021	US$6m	US$515k	-US$30m
Jun 30 2021	n/a	n/a	-US$27m
Mar 31 2021	n/a	n/a	-US$22m
Dec 31 2020	n/a	n/a	-US$16m
Sep 30 2020	US$5m	US$500k	-US$14m
Jun 30 2020	n/a	n/a	-US$16m
Mar 31 2020	n/a	n/a	-US$16m
Dec 31 2019	n/a	n/a	-US$18m
Sep 30 2019	US$3m	US$485k	-US$19m
Jun 30 2019	n/a	n/a	-US$17m
Mar 31 2019	n/a	n/a	-US$30m
Dec 31 2018	n/a	n/a	-US$28m
Sep 30 2018	US$6m	US$162k	-US$28m

Compensation vs Market: Jason's total compensation ($USD6.88M) is above average for companies of similar size in the German market ($USD1.26M).

Compensation vs Earnings: Jason's compensation has been consistent with company performance over the past year.

CEO

Jason Blessing (51 yo)

6yrs

Tenure

US$6,877,671

Compensation

Mr. Jason Blessing has been the Chief Executive Officer and Director of Model N, Inc. since effective May 10, 2018 and served as its President. Mr. Blessing served as Senior Vice President of product devel...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Jason Blessing	CEO & Director	6yrs	US$6.88m	2.29% $ 24.9m
John Ederer	Chief Financial Officer	3.3yrs	US$3.06m	0.78% $ 8.5m
Mark Anderson	Chief Services Officer	8.1yrs	US$2.50m	0.68% $ 7.4m
Timothy Adams	CFO of Rapid7 & Director	less than a year	US$231.72k	0.051% $ 555.2k
Chris Lyon	Chief Revenue Officer	5.1yrs	US$2.96m	0.66% $ 7.2m
Suresh Kannan	Chief Product Officer	4.7yrs	US$2.51m	0.66% $ 7.2m
Gwyn Lauber	Director of Investor Relations	no data	no data	no data
Errol Hunter	Chief Legal Officer	no data	no data	no data
Rehmann Rayani	Chief Strategy & Marketing Officer	2.5yrs	no data	0.35% $ 3.8m
Laura Selig	Chief People Officer	5.5yrs	no data	0.36% $ 3.9m
Jesse Mendelsohn	Senior Vice President of Center of Excellence	no data	no data	no data
Raghavan Krishnan	Vice President of Cloud Engineering & Operations	5.4yrs	no data	no data

5.1yrs

Average Tenure

52yo

Average Age

Experienced Management: 2MD's management team is seasoned and experienced (5.1 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Jason Blessing	CEO & Director	6yrs	US$6.88m	2.29% $ 24.9m
Timothy Adams	CFO of Rapid7 & Director	7.4yrs	US$231.72k	0.051% $ 555.2k
David Yarnold	Independent Director	5.4yrs	US$221.56k	0.056% $ 607.1k
Alan Henricks	Independent Director	9yrs	US$229.68k	0.074% $ 809.5k
Scott Reese	Independent Director	5yrs	US$217.48k	0.068% $ 740.1k
Baljit Dail	Independent Non-Executive Chairman of the Board	7yrs	US$250.47k	0.14% $ 1.5m
Melissa Fisher	Independent Director	7.8yrs	US$217.48k	0.13% $ 1.4m
Kimberly DeCarlis	Independent Director	4.3yrs	US$213.45k	0.029% $ 320.1k
Manisha Gulati	Independent Director	3.4yrs	US$211.43k	0.019% $ 210.7k

6.0yrs

Average Tenure

55yo

Average Age

Experienced Board: 2MD's board of directors are considered experienced (6 years average tenure).

Model N Management

Management criteria checks 3/4

Key information

Recent management updates

CEO & Director recently sold €672k worth of stock

Independent Director recently sold €125k worth of stock

Model N, Inc., Annual General Meeting, Feb 15, 2024

Chief Strategy & Marketing Officer recently sold €108k worth of stock

Senior VP & Chief Revenue Officer recently sold €224k worth of stock

President recently sold €199k worth of stock

Recent updates

Model N, Inc. to Report Q2, 2024 Results on May 06, 2024

ClearBridge Investments Sends Letter Urging Board of Directors of Model N to Reconsider Proposed Acquisition by Vista Equity Partners

Model N, Inc. Agrees to Go Private in $1.25 Billion Deal

Vista Equity Partners Management, LLC entered into a definitive agreement to acquire Model N, Inc. (NYSE:MODN) for $1.3 billion.

CEO & Director recently sold €672k worth of stock

Independent Director recently sold €125k worth of stock

First quarter 2024 earnings released: US$0.046 loss per share (vs US$0.11 loss in 1Q 2023)

Forecast breakeven date pushed back to 2025

Model N, Inc. Provides Earnings Guidance for the Second Quarter of the Fiscal Year 2024 Ending March 31, 2024 and the Full Fiscal Year Ending September 30, 2024

Model N Launches Price Management to Help High-Tech Companies Streamline Pricing

Model N, Inc. to Report Q1, 2024 Results on Feb 06, 2024

Model N, Inc., Annual General Meeting, Feb 15, 2024

Chief Strategy & Marketing Officer recently sold €108k worth of stock

Senior VP & Chief Revenue Officer recently sold €224k worth of stock

President recently sold €199k worth of stock

Forecast breakeven date moved forward to 2024

Model N, Inc. Provides Earnings Guidance for the First Quarter Ending December 31, 2023 and the Full Fiscal Year Ending September 30, 2024

Full year 2023 earnings released: US$0.89 loss per share (vs US$0.78 loss in FY 2022)

Model N Launches Channel Collaboration to Strengthen Visibility for High-Tech Manufacturers and Their Channel Partners

Model N, Inc. to Report Q4, 2023 Results on Nov 09, 2023

Now 20% undervalued after recent price drop

Forecast to breakeven in 2025

President recently sold €246k worth of stock

Forecast to breakeven in 2025

Third quarter 2023 earnings released: EPS: US$0.074 (vs US$0.17 loss in 3Q 2022)

Model N, Inc. Provides Earnings Guidance for the Fourth Quarter and the Full Fiscal Year Ending September 30, 2023

Model N, Inc. to Report Q3, 2023 Results on Aug 08, 2023

Model N, Inc.(NYSE:MODN) dropped from Russell 2000 Defensive Index

President recently sold €330k worth of stock

Model N Announces Its Spring 2023 Product Release for Life Sciences and High-Tech Customers

Second quarter 2023 earnings released: US$0.88 loss per share (vs US$0.22 loss in 2Q 2022)

Model N, Inc. Provides Earnings Guidance for the Third Quarter Ending June 30, 2023 and the Full Fiscal Year Ending September 30, 2023

Independent Director recently sold €116k worth of stock

First quarter 2023 earnings released: US$0.11 loss per share (vs US$0.17 loss in 1Q 2022)

Forecast to breakeven in 2025

Model N, Inc. Provides Revenue Guidance for the Second Quarter Fiscal Year 2023 Ending March 31, 2023 and the Full Fiscal Year Ending September 30, 2023

Insufficient new directors

Model N, Inc. to Report Q1, 2023 Results on Feb 07, 2023

Model N, Inc., Annual General Meeting, Feb 16, 2023

Full year 2022 earnings released: US$0.78 loss per share (vs US$0.84 loss in FY 2021)

Independent Director recently sold €951k worth of stock

Model N, Inc. Announces Its Fall 2022 Product Release of the Model N Revenue Cloud

Full year 2022 earnings released: US$0.78 loss per share (vs US$0.84 loss in FY 2021)

Model N, Inc. Provides Earnings Guidance for the First Quarter Fiscal Year 2023 Ending December 31, 2022 and the Full Fiscal Year Ending September 30, 2023

Model N, Inc. to Report Q4, 2022 Results on Nov 08, 2022

President recently sold €314k worth of stock

Third quarter 2022 earnings released: US$0.17 loss per share (vs US$0.22 loss in 3Q 2021)

Model N, Inc. Provides Financial Guidance for the Fourth Quarter and Full Year Ending September 30, 2022

Model N, Inc. to Report Q3, 2022 Results on Aug 09, 2022

President recently sold €281k worth of stock

Model N, Inc. Announces the Spring 2022 Product Release of the Model N Revenue Cloud

Model N, Inc. Provides Earnings Guidance for the Third Quarter 2022 and Full Fiscal Year Ending September 30, 2022

Second quarter 2022 earnings released: US$0.22 loss per share (vs US$0.30 loss in 2Q 2021)

Model N, Inc. to Report Q2, 2022 Results on May 10, 2022

Now 21% undervalued after recent price drop

Model N, Inc. Appoints as Class III Directors

Model N, Inc. Appoints Dave Yarnold as Class III Directors

Now 20% undervalued after recent price drop

President recently sold €224k worth of stock

First quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat

Model N, Inc. Provides Earnings Guidance for the Second Quarter of Fiscal Year 2022 and for the Full Fiscal Year Ending September 30, 2022

Model N Announces New Saas Solution for Pharmaceutical and Biotech Companies to Address State Price Transparency Mandates

President recently sold €415k worth of stock

Full year 2021 earnings released: US$0.84 loss per share (vs US$0.40 loss in FY 2020)

Independent Director recently sold €151k worth of stock

President recently sold €393k worth of stock

Model N, Inc. Provides Financial Guidance for the Fourth Quarter and Full Year Ending September 30, 2021

Third quarter 2021 earnings released: US$0.22 loss per share (vs US$0.069 loss in 3Q 2020)

Model N, Inc. Announces Deal Management for Life Sciences