Rapid7, Inc. (NASDAQ:RPD), a leading provider of IT and security analytics solutions, today announced the hiring of Eric Erston as Senior Vice President of Americas Sales, and the promotion of Stephanie Furfaro to Senior Vice President of Customer Success and Sales Strategy. The Company also announced the details of the inducement awards granted to new CFO Jeff Kalowski, who joined the Company on January 9, 2017, pursuant to the Employment Agreement dated November 28, 2016.
“We are pleased to welcome Eric to the Rapid7 team and excited for Stephanie to take on her new role,” said Corey Thomas, CEO of Rapid7. “Eric brings exactly the kind of enterprise sales experience that we need to scale our business, as well as deep experience in selling security software.”
“Stephanie has been a key member of our management team since 2011. Our customer success and sales support teams will benefit from her experience with growing software companies and her deep knowledge of Rapid7’s operations. We now have the leadership in place across our global sales organization to take full advantage of the growth opportunity ahead of us,” said Thomas.
Eric Erston, SVP of Americas Sales
Mr. Erston’s experience spans managing diverse teams, driving tremendous growth, and demonstrating success selling enterprise security solutions to companies of all sizes. Prior to joining Rapid7, Mr. Erston served as SVP Global Sales at EnerNOC. From 2000 to 2015, he held senior sales leadership positions at RSA, including Global VP of Go-to-Market, Identity, and Risk Management.
Stephanie Furfaro, SVP of Customer Success and Sales Strategy
Ms. Furfaro brings over 15 years of experience in sales execution and go-to-market roles where she built and managed global sales programs, operations and strategy. She has held leadership positions in a number of fast-growing software companies, including Allaire, Macromedia, and Adobe, each of which have influenced her commitment to delivering outstanding customer experiences. Ms. Furfaro joined Rapid7 in 2011 to lead Business Strategy and Sales Operations. In 2015, she took on the role of Chief of Staff, working with the executive team to facilitate strategic planning and cross-functional initiatives.
Both Mr. Erston and Ms. Furfaro will report to Rapid7’s Chief Operating Officer, Andrew Burton.
Inducement Awards Granted to new CFO Jeff Kalowski
In accordance with NASDAQ Listing Rule 5635(c)(4), the Company announced that as an inducement to entering into employment with the Company, the Compensation Committee of the Board of Directors approved the following inducement awards under Rapid7’s 2015 Equity Incentive Plan, as amended (the “2015 Plan”), to Rapid7’s new CFO Jeff Kalowski, which were granted to Mr. Kalowski on January 9, 2016: 179,140 restricted stock units, and 369,366 options to purchase common stock with an exercise price of $12.56 per share.
Each inducement awards will vest over four years, with 25% of the original number of shares underlying such award vesting on January 15, 2018 and 6.25% of the original number of shares underlying each such award vesting on each quarterly anniversary thereafter, subject, in each case, to Mr. Kalowski’s continued service with the Company on each applicable vesting date. The inducement awards were made under a separate share reserve under the 2015 Plan designated for awards to be made to new employees of Rapid7 as an inducement material to such persons entering into employment with Rapid7 that was not approved by Rapid7’s stockholders and are intended to be granted pursuant to and in accordance with Nasdaq Listing Rule 5635(c)(4).