Freshworks cancels CEO's 6M-share PRSU award, grants $19M replacement equity

Freshworks Inc.

Board approved cancellation of CEO Mathrubootham's 2021 PRSU award (6M shares, stock price hurdles) effective March 1, 2024 due to macro conditions making hurdles unattainable.
CEO receives new annual LTI award valued at $19M in time-based RSUs (70%) and performance-based RSUs (30%) vesting over 4 years.
President Dennis Woodside gets annual award of $15M; CFO Tyler Sloat gets $6M annual plus $4M special refresh RSU; CPO Ramamurthy gets $6M annual.
Performance-based PRSUs tied to 2024 revenue and free cash flow targets; payout ranges 0%-200% for revenue and 0%-125% for FCF.

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