Roy Banks served as the CEO of Weave Communications from late 2020 until August 2022. He has a background in high-tech software and e-commerce, having held various leadership roles in companies like LoadPay and Network Merchants. His experience also includes...

Roy Banks served as the CEO of Weave Communications from late 2020 until August 2022. He has a background in high-tech software and e-commerce, having held various leadership roles in companies like LoadPay and Network Merchants. His experience also includes being a Venture Partner at Pelion Venture Partners. Under his leadership, Weave has aimed to strengthen its position in customer communication solutions. Interestingly, during his tenure, Banks didn't receive any bonus in 2022, and his total reported compensation was around $388,500, a drop from approximately $470,000 in 2021, which included a significant bonus. Notably, he exited Weave in August 2022 but remained involved in a transition role briefly after. He also had some personal stakes in the company, holding about 691,521 shares, which represented approximately 1.1% of the company's stock at one point. Roy’s journey at Weave illustrates a mix of achievement in technology leadership and the volatility typical of executive roles in fast-moving companies.

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2. Holdings

3. Insider Trading

4. Compensation History

5. Other Weave Communications CEOs

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Roy Banks

Ex-CEO of Weave Communications

Sector of Economy

Technology

CEO of Weave Communications for

0 years 9 months (Oct 2021 - Aug 2022)

Previous Experience

Unknown

Rivals

Competitors/colleagues of Roy Banks

Holdings

See how much did Roy Banks make over time.

During his time at Weave Communications, Roy Banks held a significant number of shares, peaking at around 691,521 shares, representing approximately 1.1% of the total stock. His wealth fluctuated as the company navigated the market. In early 2022, this stake...

During his time at Weave Communications, Roy Banks held a significant number of shares, peaking at around 691,521 shares, representing approximately 1.1% of the total stock. His wealth fluctuated as the company navigated the market. In early 2022, this stake was part of his overall compensation as CEO when he reported $388,500, highlighting a significant decrease from previous years when bonuses were included. Notably, he had an accelerated vesting of his restricted stock units upon his resignation, reflecting the volatile nature of executive equity holdings in reaction to company performance and market conditions.

Mar 18, 2025

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shares

WEAV @ $11.14

Insider Trading

See recent insider trades of Roy Banks.

WEAV

521,743 shares

WEAV

Mar 17, 2022

Received

Compensation History

See how much did Roy Banks make over time.

Roy Banks's total compensation during his time at Weave was around $388,500 in 2022, which included a base salary of $286,564 but no bonuses or stock options that year. This marked a decline from 2021’s compensation of approximately $469,597, where he earned a bonus based on personal and company performance metrics. His employment agreement set his base salary at $425,000 with a target annual bonus, but when he stepped down, the lack of bonuses reflected the challenges the company was facing. The overall compensation structure underscored Weave's focus on aligning pay with performance and retention strategies, particularly in a demanding market environment. He also received severance and certain health benefits following his departure, indicating a structured exit package.

Year

2022

Total Compensation

$439.28K

Salary

$286.56K

Board Justification

The compensation philosophy aligns with company performance and retention strategies, ensuring competitive compensation to attract and retain top talent.

Bonus

$0.00

Board Justification

Mr. Banks was not entitled to any annual cash incentive bonus for 2022.

Other

$152.71K

Board Justification

This includes cash severance paid to Mr. Banks and the cost of COBRA premiums paid for Mr. Banks in connection with his termination of employment.

Restricted Stock

$0.00(0 RSU)

Board Justification

No stock awards were vested in 2022 as the amounts reported are for stock awards granted, not vested.

Performance Metrics

The performance metrics for 2022 were based on individual performance and the achievement of company milestones relating to revenue and non-GAAP operating loss.

Other Weave Communications CEOs

Here are other CEOs of Weave Communications

Brett White

CEO of Weave Communications

August 2022 - Present