COMPENSATION DISCUSSION AND ANALYSIS
This Compensation Discussion and Analysis describes the compensation program for our Principal Executive Officer, our Principal Financial Officer, and the next three most highly-compensated executive officers (other than our Principal Executive Officer and Principal Financial Officer) who were serving in such capacity as of December 31, 2020, and one additional executive officer who would have been among the three most highly-compensated executive officers but for the fact she was not employed at the end of 2020,2021, or our “named executive officers” or “NEOs”. Our named executive officers for fiscal 20202021 were:
Joseph A. Walsh, who serves as PresidentChairman and Chief Executive Officer;
Paul D. Rouse, who serves as Chief Financial Officer, Executive Vice President and Treasurer;
Gordon Henry, who serves as Chief Strategy Officer and Executive Vice President;
James McCusker, who serves as Chief Revenue Officer and Executive Vice President; and
John Wholey, who serves as Chief Operations & Information Officer and Executive Vice President; and
Debra Ryan, who served as Chief Human Resources Officer until her separation from the Company on July 24, 2020.President.
This Compensation Discussion and Analysis describes the material elements of our executive compensation program during fiscal 2020.year 2021. It also provides an overview of our executive compensation philosophy, core principles, and objectives. Finally, it analyzes how and why the compensation committee of our board of directors arrived at the specific compensation determinations for our named executive officers for fiscal 2020,2021, including the key factors that the compensation committee considered in deciding their compensation.
Compensation Philosophy and Compensation Program Objectives
Our goal for our executive compensation program is to attract, motivate, retain and retainreward a talented, entrepreneurial, and creative team of executives who will provide leadership for our success in dynamic and competitive markets. Our compensation philosophy is to providerooted in pay-for-performance, and provides a balanced compensation program that rewards employees for the achievement of our financial, operational and strategic goals. We believe that the most effective program will provide a competitive base salary with annual short-term and long-term incentives based on company and individual performance.
For fiscal year 2020,2021, our executive compensation programs focused on both top-line and bottom-line performance, all while working on transforming our business and positioning the Company to be the leading provider of SaaS marketing solutions and cloud-based tools for SMBs.
For 2020,2021, our compensation committee approved a compensation design and target compensation opportunities, comprising a mix of fixed and variable cash compensation, including base salaries, a short-term cash incentive plan withand an overachievement cash plan. Our annual incentive design included metrics tied to our financial growth plan. In light of historically significant stock option awards granted to our NEOs under our 2016 Stock Incentive Plan, the compensation committee determined not to award any long-term incentives in fiscal year 20202021 to any of our NEOsNEOs. In October 2021, our compensation committee retained Lyons Benenson as its designated compensation consultant and is currently evaluating its approach to long-term incentive compensation for fiscal year 2021. These programs2022. The elements of the 2021 compensation program are described in more detail below.
Within the context of the overall objectives of our compensation programs, we typically determine the specific amounts of compensation to be paid to each of our NEOs based on a number of factors:
the performance of our NEOs in prior years;
the roles and responsibilities of our NEOs;
the individual experience and skills of our NEOs;
for each named executive officer, other than our Chief Executive Officer, the evaluations and recommendations of our Chief Executive Officer; and
the amounts of compensation being paid to our other NEOs.NEOs; and
internal equity.