Dave Schaeffer has led Cogent Communications since 2000, making him a veteran in telecommunications. He earned a computer science degree from UC Berkeley, which set the stage for his deep technical knowledge in the field. Under his leadership, the company...

Dave Schaeffer has led Cogent Communications since 2000, making him a veteran in telecommunications. He earned a computer science degree from UC Berkeley, which set the stage for his deep technical knowledge in the field. Under his leadership, the company has seen impressive growth, achieving a remarkable 57% increase in revenue and 58% in EBITDA just this year. Instead of a standard salary, his entire 2023 compensation of over $9.2 million came from performance-based equity awards and cash incentives tied to the company's success. Schaeffer's bold approach means he doesn't take a fixed salary; his earnings depend entirely on how well Cogent does. In 2023, he acquired a significant stock award of 160,000 restricted shares, which shows that he has a lot riding on the company’s future. Schaeffer’s work is not just about the numbers; it's also about delivering results that matter to shareholders. With the telecommunications market constantly evolving, his experience and strategic vision are key for Cogent’s ongoing success.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Cogent Communications Holdings CEOs

C

Dave Schaeffer

Founder and Ex-CEO of Cogent Communications Holdings

Education

Bachelor's degree in Computer Science from the University of California, Berkeley.

Field of Expertise

Technology & Engineering - Telecommunications

Sector of Economy

Communication Services

Born

February 15, 1968 - 57 years ago

CEO of Cogent Communications Holdings for

22 years 8 months (May 2000 - Jan 2023)

Previous Experience

Founder of Cogent Communications Holdings, Inc., extensive experience in the telecommunications industry, management roles in various companies.

Rivals

Competitors/colleagues of Dave Schaeffer

Holdings

See how much did Dave Schaeffer make over time.

Dave Schaeffer’s stock holdings are notable. As of 2023, he holds a total of 160,000 shares, with a substantial portion vested based on performance. In 2023 alone, he experienced significant gains with vested stock valued at over $8.7 million. In...

Dave Schaeffer’s stock holdings are notable. As of 2023, he holds a total of 160,000 shares, with a substantial portion vested based on performance. In 2023 alone, he experienced significant gains with vested stock valued at over $8.7 million. In recent years, his holdings peaked notably in 2020 when his total compensation reached over $14 million, riding on high performance incentives. However, this year, while his cash incentives totaled $500,000, the real value lies in the shares he manages. With the market fluctuating, his holdings are not static; they demonstrate his commitment to the company's growth. The market conditions reveal that certain shares from his awards can vary greatly, emphasizing the risk and reward dynamic he is engaged in. His motivations are clear — as Cogent grows, so does his wealth, which underscores his alignment with the company’s success.

Total Stock Sold

$58.69M

CCOI

$58.69M

883,191 CCOI shares

What if they kept their stock?

If Dave Schaeffer didn't sell their stock, today they would have:
Extra CCOI883,191 shares worth $74.79M.
This is 27.42% and $16.09M more than what they got when they sold the stock.

Insider Trading

See recent insider trades of Dave Schaeffer.

CCOI

$4.31M

CCOI at $71.77/share

Mar 4, 2025

Sale

CCOI

180,000 shares

CCOI

Jan 14, 2025

Received

CCOI

$4.99M

CCOI at $83.22/share

Nov 25, 2024

Sale

CCOI

$4.66M

CCOI at $71.75/share

Sep 10, 2024

Sale

CCOI

$4.37M

CCOI at $72.82/share

Aug 27, 2024

Sale

CCOI

$3.11M

CCOI at $51.78/share

Jun 14, 2024

Sale

CCOI

$3.28M

CCOI at $54.60/share

Jun 12, 2024

Sale

CCOI

$2.97M

CCOI at $59.44/share

May 13, 2024

Sale

CCOI

$1.68M

CCOI at $64.21/share

Mar 15, 2024

Sale

CCOI

$2.03M

CCOI at $67.52/share

Mar 14, 2024

Sale

Compensation History

See how much did Dave Schaeffer make over time.

Dave Schaeffer's compensation structure is unique. He does not receive a salary or a traditional bonus. Instead, his earnings are completely performance-based, primarily through equity awards. In 2023, his total compensation was over $9.2 million, built mainly from his stock awards and a cash incentive of $500,000 linked to company performance. This approach aligns his financial interest directly with the success of Cogent Communications. For instance, in 2022, he had a total compensation exceeding $10 million, highlighting the volatile nature of his pay structure. Schaeffer’s strategy to focus solely on performance metrics effectively motivates him to drive revenue and EBITDA growth, which is at the core of Cogent's operations. His commitment to this model is evident in the large performance-based stock awards, reinforcing his investment in the company's long-term success.

Year

2023

Total Compensation

$8.73M

Salary

$0.00

Board Justification

The compensation philosophy focuses on aligning executive compensation with company performance, particularly through performance-based equity awards and cash incentives tied to revenue and EBITDA growth.

Bonus

$0.00

Board Justification

The CEO does not receive a base salary or bonus; his compensation is entirely performance-based through equity awards and cash incentives.

Other

$9.92K

Board Justification

This includes employer matching amounts contributed to the Company’s 401(k) defined contribution plan.

Restricted Stock

$8.72M(160K RSU)

Board Justification

The CEO received a restricted stock award of 160,000 shares made on January 3, 2023, of which 130,666 shares were valued at $76.06 per share and 29,334 shares were valued via an appraised value at $39.94 per share since they are based upon market conditions. Up to 88,000 shares vest on April 1, 2027 subject to certain performance conditions and 72,000 shares vest monthly at 6,000 per month in 2026.

Performance Metrics

The performance metrics for the CEO's cash incentive in 2023 were based on achieving revenue growth of 57% and adjusted EBITDA growth of 58%.

Other Cogent Communications Holdings CEOs

Here are other CEOs of Cogent Communications Holdings

David Schaeffer

Founder and CEO of Cogent Communications Holdings

January 2023 - Present