DIGITALOCEAN HOLDINGS INC (DOCN)

Sector: Information Technology

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2026 Annual Meeting Analysis

DIGITALOCEAN HOLDINGS INC · Meeting: June 15, 2026

Policy v1.2high confidenceView Filing ↗
For informational purposes only. This AI-generated analysis applies a published voting policy to publicly available proxy filings. It does not constitute investment advice, proxy voting advice, or a solicitation of any kind. AI analysis may be incomplete or inaccurate — always review the actual filing and make your own independent decision.

Directors FOR

2

Directors AGAINST

0

Say on Pay

FOR

Auditor

FOR

Director Elections

Election of Class II Directors

2 FOR
✓ FOR
Warren Adelman

Adelman has served since November 2020 and brings deep technology executive experience including as CEO of GoDaddy; DOCN's 3-year total return of +185% outperforms the company-disclosed peer group median by +229.5 percentage points, far exceeding the 65-point threshold required to trigger a negative vote, so no TSR concern applies; no overboarding, attendance, or independence issues identified.

✓ FOR
Pueo Keffer

Keffer has served since June 2015 and brings extensive venture and technology investment experience; DOCN's strong stock outperformance versus peers means the TSR trigger does not apply; no overboarding, attendance, or independence issues identified.

Both Class II director nominees pass all policy screens: DOCN's 3-year total return of +185% outperforms the company-disclosed peer group median by +229.5 percentage points, well below the 65-point underperformance threshold required to trigger a negative vote; neither director is overboarded; all board members attended at least 75% of meetings; both directors are independent with relevant technology industry experience.

Say on Pay

✓ FOR

CEO

Padmanabhan Srinivasan

Total Comp

$1,210,795

Prior Support

86%%

The CEO's total reported compensation of $1,210,795 for 2025 is notably modest for a technology company with a market cap of approximately $9.9 billion — this is because the company deliberately granted no new equity awards to the CEO in 2025, relying instead on a large multi-year market-based award granted at hire in 2024 that only vests if specific stock price targets are achieved; this structure is genuinely performance-linked since none of those stock price targets had been met as of year-end 2025. The overall pay program shows strong pay-for-performance alignment: 65% of equity awards for other named executives are performance-based stock awards tied to revenue and cash flow targets, bonuses were paid at 98% of target reflecting near-exact achievement of financial goals, and DOCN's stock returned +185% over three years while peers declined -44.5% on average. The prior Say on Pay vote received 86% support (above the 70% threshold that would require corrective action), a meaningful clawback policy is in place, and fixed salary as a share of total compensation is well below 40% for the executive team as a whole.

Auditor Ratification

✓ FOR

Auditor

PricewaterhouseCoopers LLP

Tenure

3 yrs

Audit Fees

$2,881,000

Non-Audit Fees

$333,000

PwC has served as auditor since 2023 (approximately 3 years), well below the 25-year tenure threshold that would raise independence concerns; non-audit fees (tax fees of $331,000 plus other fees of $2,000 = $333,000) represent approximately 11.6% of audit fees ($2,881,000), comfortably below the 50% threshold that would trigger a negative vote; PwC is a Big 4 firm fully appropriate for a company of DigitalOcean's size and complexity; no material restatements were identified.

Overall Assessment

The 2026 DigitalOcean annual meeting presents three straightforward proposals: two director nominees with strong relevant experience and no governance red flags, an auditor with a short tenure and minimal non-audit fees, and an executive pay program that is conservatively structured with genuine performance conditions and strong shareholder alignment evidenced by 185% stock return over three years. All three proposals warrant a FOR vote under the applicable policy standards.

Filing date: April 24, 2026·Policy v1.2·high confidence

Compensation Peer Group

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