BLACKBERRY Ltd
For the period ended Feb 28, 2025. Filed May 12, 2025.
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Feb 28, 2025 · Filed May 12, 2025
Contents
2. Comparator Group Development
- Comparator Group Development
Peer group data is one of a number of factors considered in determining compensation for the NEOs. Although the Company does not make decisions solely in response to the compensation practices of peer companies, as a general principle the Company targets pay at the median of its peer group for pay benchmarking.
The Company periodically reviews the peer companies used for compensation benchmarking and may make changes based on consolidation within the industry, the business units which the Company operates and the relevance of peer companies to these business units, the organizations it views as labour competitors, the scale of the peer companies, and entities considered to be competing for similar stock market investors as the Company.
In March 2023, the CNG Committee approved an updated peer group with which to compare the compensation of the Company’s NEOs, including representation from a broad range of publicly-traded technology companies which align to the current financial and industry profile of the Company. Most of the companies in the peer group are based in the United States. The comparator group was modified during the course of Fiscal 2024 and 2025 only to remove certain companies (CDK Global, Inc., Nuance Communications, Inc. and Sailpoint Technologies Holdings, Inc. in Fiscal 2024; SecureWorks Corp. in Fiscal 2025) as they ceased to be publicly traded.
The approved comparator group consists of the following companies:
| ACI Worldwide, Inc. | PTC Inc. |
|---|---|
| Appian Corporation | Qualys, Inc. |
| Blackbaud, Inc. | Rapid7, Inc. |
| Commvault Systems, Inc. | RingCentral, Inc. |
| CrowdStrike Holdings, Inc. | SentinelOne, Inc. |
| Dolby Laboratories, Inc. | Tenable Holdings, Inc. |
| HubSpot, Inc. | Teradata Corporation |
| Manhattan Associates, Inc. | Varonis Systems, Inc. |
| Pegasystems Inc. | Verint Systems Inc. |
| Progress Software Corporation | Zscaler, Inc. |
The Company anticipates that the comparator group will be updated in Fiscal 2026 to reduce exposure to cybersecurity companies in light of the Cylance Sale and to increase exposure to automotive software vendors.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.