I am excited to share the details of the 2024 JMP Performance Bonus Plan with you. As a reminder, this plan applies to all JMP employees in non-target carrying roles (e.g., HR, Legal, R&D, Finance, Marketing, etc.).
Attached for your review is the plan document containing terms and conditions, as well as a calculator that can be leveraged throughout the year to monitor your bonus earnings based on JMP financial performance and your individual goal attainment.
There are a few changes in the 2024 plan. First, we will only have one financial metric in the plan, Adjusted EBITDA (last year we had Total Software Revenue and Adjusted EBITDA). Lauren Aldrich, Finance Senior Manager, put together an excellent
video and article
last year on Inside JMP that explains EBITDA and how employees can affect that metric.
Second, the plan will pay semiannually instead of quarterly, since it is challenging for Finance to set accurate quarterly adjusted EBITDA targets given the seasonality of our business. Finally, the individual performance component of the plan is now weighted 25% of the annual target. This change allows those individuals that exceed their goals and measures to have a higher upside than previous versions of the plan.
In addition, I created a short
video that explains the 2024 Plan
in more detail. Thank you for all of your contributions to JMP’s continued success.
