Kevin Jones served as the CEO of Rackspace Technology, Inc. from November 2020 until September 2022. He stepped down after making a significant impact on the company's direction and growth. During his time, his compensation reflected his responsibilities. In 2022,...

Kevin Jones served as the CEO of Rackspace Technology, Inc. from November 2020 until September 2022. He stepped down after making a significant impact on the company's direction and growth. During his time, his compensation reflected his responsibilities. In 2022, he earned a total of $3.3 million, primarily from a salary of $930,000 and a severance package due to his departure. Notably, he once received a $10 million sign-on bonus, which was a strategy to attract high-level talent in a competitive market. Throughout his tenure, Kevin was also granted over one million restricted stock units, aligning his interests with the company's performance. His commitment to growth was evident as he tied his bonuses to the company's success and had strict performance metrics in place. He executed well in the role but ultimately transitioned out as the company moved in a new direction.

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1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Rackspace Technology, Inc. CEOs

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Kevin Jones

Ex-CEO of Rackspace Technology, Inc.

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Technology

CEO of Rackspace Technology, Inc. for

1 year 10 months (Nov 2020 - Sep 2022)

Previous Experience

Executive Vice President and Chief Financial Officer at Rackspace Technology, Inc. (2019-2020); Vice President, Finance at Rackspace (2015-2019)

Rivals

Competitors/colleagues of Kevin Jones

Holdings

See how much did Kevin Jones make over time.

During his time as CEO, Kevin Jones made significant investments in Rackspace stock, with notable trading activity in 2021. At the start of the year, he had impressive holdings, peaking with transactions valued up to $28 million in line with...

During his time as CEO, Kevin Jones made significant investments in Rackspace stock, with notable trading activity in 2021. At the start of the year, he had impressive holdings, peaking with transactions valued up to $28 million in line with company performance and market sentiment. Over the following months, his holdings fluctuated, but by the end of 2022, the value dropped significantly. This aligns with his executive strategy of tying personal financial performance with the company's performance, showing a direct correlation between his trades and the stock's ups and downs. Such activity indicates a hands-on approach and belief in the company's future, although values did decrease towards the end of his tenure.

Mar 17, 2025

H

shares

HLF @ $8.45

R

shares

RXT @ $1.95

Insider Trading

See recent insider trades of Kevin Jones.

HLF

11,029 shares

HLF

May 4, 2023

Received

HLF

5,387 shares

HLF

May 5, 2022

Received

RXT

564,243 shares

RXT

Mar 22, 2022

Received

RXT

1,091,989 shares

RXT

Aug 19, 2021

Received

RXT

$99.74K

RXT at $18.44/share

May 13, 2021

Purchase

HLF

3,173 shares

HLF

May 6, 2021

Received

RXT

458,730 shares

RXT

Mar 16, 2021

Received

Compensation History

See how much did Kevin Jones make over time.

Kevin Jones's compensation as CEO of Rackspace Technology triggered a path of high financial stakes. In 2021, he had reported total earnings of approximately $35 million, which included a hefty bonus based on performance metrics that reflected his leadership impact. As he transitioned out in 2022, his total compensation for the year fell to $3.3 million, which was mainly from his salary and a substantial severance package. Not only that, but Kevin was granted extensive stock options and restricted stock units as part of his compensation, reflecting the company's philosophy of aligning executive pay with shareholder interests. This approach to compensation aimed to attract and retain top talent, ensuring that business goals were met while keeping high management accountable.

Year

2022

Total Compensation

$3.98M

Salary

$930.00K

Board Justification

The compensation philosophy focuses on pay for performance, attracting and retaining talent, and aligning interests with stockholders.

Bonus

$0.00

Board Justification

Mr. Jones forfeited his annual bonus opportunity in connection with his termination of employment.

Other

$2.37M

Board Justification

Severance payment including continued base salary payments and a lump-sum payment representing Mr. Jones’ target bonus, along with COBRA reimbursements and relocation expense reimbursements.

Restricted Stock

$675.87K(229.11K RSU)

Board Justification

Time-based RSUs granted as part of a one-time retention grant in connection with transition services provided upon departure, vesting in full on April 30, 2024, subject to compliance with restrictive covenants.

Performance Metrics

Annual cash bonuses are based on individual and company performance, with specific targets set by the Compensation Committee.

Other Rackspace Technology, Inc. CEOs

Here are other CEOs of Rackspace Technology, Inc.

Amar Maletira

CEO of Rackspace Technology, Inc.

September 2022 - Present