Dynatrace’s six top executives reported more than $40 million in combined total compensation during fiscal year 2023, including over $14 million to its relatively new CEO.
The Waltham, Mass.-based cybersecurity and observability company generated $1.16 billion during its fiscal year 2023, which ended March 31.
Dynatrace (NYSE: DT) dished out approximately $40.9 million in combined total pay to six executives, which includes one leader who is no longer at the company, as well as another executive who plans to retire later this year, according to a recent company filing with the U.S. Securities and Exchange Commission.
[Related: Kyndryl’s Most Highly Compensated Executives In Fiscal 2023]
Six of the most highly compensated executives at Dynatrace in fiscal year 2023 were: CEO Rick McConnell; Mattias Dollentz-Scharer, senior vice president and chief customer officer; Bernd Greifeneder, chief technology officer and senior vice president; soon-to-be retired Steve Pace, chief cevenue officer and senior vice president; Kevin Burns, former senior vice president, chief financial officer and treasurer; and Jim Benson, chief financial officer and treasurer.
CRN breaks down how much each of these executives were compensated in stock awards, salaries and other types of compensation.
Dynatrace’s Fiscal 2023 Earnings
Before jumping to the specific compensation figures for these six executives, it’s key to know that Dynatrace generated revenue of $1.16 billion in fiscal year 2023, representing an increase of 25 percent compared to fiscal year 2022 sales.
The observability and security company captured $1.08 billion in subscription sales in its latest fiscal year, up 24 percent compared to $870 million in fiscal year 2022.
“Dynatrace delivered a great finish to the year with strong fourth quarter results that exceeded expectations across the board, demonstrating the durability of our business model,” CEO McConnell said in a statement in May. “Observability is quickly moving from optional to mandatory as customers look to tame the explosion of data and increased complexity that’s driven by their cloud migration and digital transformation initiatives.”
Click through to see Dynatrace’s six highest compensated executives in fiscal year 2023.
No. 6: Kevin Burns
Total Compensation 2023: $1,590,997
Total Compensation 2022: $8,132,932
Dynatrace’s former senior vice president, chief financial officer and treasurer, Kevin Burns, received $1,590,997 in total compensation for fiscal year 2023. In 2022, he was given $8,132,932 in total compensation.
In 2023, Burns received around $375,000 in total stock awards with a base salary of $341,000. He generated $563,000 in option awards and $311,000 in all other compensation.
In November 2022, Burns resigned as the company’s CFO as part of a transition Dynatrace announced earlier in the year. He was replaced by Jim Benson, who is also on this list. Burns remained at the company until Dec. 31, 2022.
No. 5: Matthias Dollentz-Scharer
Total Compensation 2023: $2,666,647
Total Compensation 2022: Not Available
Dynatrace’s senior vice president and chief customer officer, Mattias Dollentz-Scharer, generated $2,666,647 in total compensation in fiscal year 2023.
He received $2.1 million in stock awards on a base salary of $346,000. Dollentz-Scharer received around $221,000 in the company’s non-equity incentive compensation plan in 2023, along with $10,000 in all other compensation.
Dollentz-Scharer first joined the company in 2014 as a general manager before getting promoted to senior vice president of business operations in 2018. In July 2022, he became SVP and CCO when the company combined its Services and Business Insights teams. Prior to Dynatrace, he was managing director and general manager at Planon from 2008 to 2014.
No. 4: Bernd Greifeneder
Total Compensation 2023: $5,081,428
Total Compensation 2022: $4,800,362
Dynatrace’s chief technology officer and senior vice president, Bernd Greifeneder, reported $5,081,428 in total compensation for fiscal year 2023. In 2022, he generated $4,800,362 in total compensation.
In 2023, Greifeneder received $4.4 million in stock awards along with a salary of $409,000. He also received around $261,000 in the company’s non-equity incentive compensation plan.
Greifeneder has been leading Dynatrace’s innovation charge since he became CTO of the company in late 2014. He co-founded dynaTrace Software GmbH in 2005, where he was CEO until 2008 and then the CTO until he joined Dynatrace.
No. 3: Steve Pace
Total Compensation 2023: $5,576,437
Total Compensation 2022: $5,382,122
The company’s chief revenue officer and senior vice president, Steve Pace, reported total compensation of $5,576,437 in fiscal year 2023. In 2022, Pace was paid $5,382,122 in compensation.
In 2023, he received $4.6 million in stock awards on top of a salary of $450,000. Pace was paid around $468,000 in the company’s non-equity incentive compensation plan and received $26,000 in all other compensation during the year.
Pace first joined Dynatrace in 2016, leading the company’s global sales business before being promoted to CRO in 2021. However, Pace stepped down as SVP and CRO on July 5 when Dynatrace appointed a new chief revenue officer in Dan Zugelder, who joined the company from VMware.
Pace plans to retire from the company in October.
No. 2: Jim Benson
Total Compensation 2023: $11,491,514
Total Compensation 2022: Not Available
Dynatrace’s new chief financial officer and treasurer, Jim Benson, reported $11,491,514 in total compensation during fiscal year 2023. It is key to note that Benson joined Dynatrace in November 2022, meaning he only spent approximately five months at the company during fiscal year 2023.
Benson received nearly all of his compensation in stock awards in 2023, which totaled $11.2 million. He received a salary of about $180,000 along with $144,000 from the company’s non-equity incentive compensation plan. Benson’s annual salary is set at $475,000.
Prior to joining Dynatrace less than a year ago, Benson was executive vice president and CFO of Akamai Technologies from 2012 to 2020. He also spent 20 years at Hewlett Packard Enterprise before Akamai.
No. 1: Rick McConnell
Total Compensation 2023: $14,563,163
Total Compensation 2022: $20,970,696
Dynatrace CEO Rick McConnell reported total compensation of $14,563,163 for fiscal year 2023. In 2022, McConnell was compensated a total of $20,970,696.
McConnell reported $13.2 million in stock awards in 2023, along with a base salary of $630,000. Dynatrace’s leader received about $670,000 in the company’s non-equity incentive compensation plan, as well as $28,000 in all other compensation.
McConnell has served as Dynatrace’s CEO and director since December 2021. Prior to taking over Dynatrace, he was president and general manager of Akamai Technologies’ Security Technology Group. McConnell has held top executive roles over the past three decades at the likes of Cisco, Akamai and Latitude Communications.