DEF 14A of Gitlab Inc., May 1, 2025

DEF 14A of Gitlab Inc.

Filed May 1, 2025 · FY20250001628280-25-021573

Open on EDGAR

  1. ELECTION OF DIRECTORS

    ELECTION OF DIRECTORS Our board of directors currently consists of nine directors and is divided into three classes. Each class serves for three years, with the terms of office of the respective classes expiring in successive years. Directors in Class I will stand for election at the Annual Meeting. The terms of office of directors in Class II and Class III do not expire until the annual meetings of stockholders held in 2026 and 2027, respectively. At the recommendation of our nominating and corporate governance committee, our board of directors proposes that each of the three Class I nominees named below, each of whom is currently serving as a director in Class I, be elected as a Class I director for a three-year term expiring at the 2028 annual meeting of stockholders and until such director’s successor is duly elected and qualified or until such director’s earlier death, resignation, disqualification, or removal. Each director will be elected by a plurality of the votes cast, which means that the three individuals nominated for election to our board of directors at the Annual Meeting receiving the highest number of “FOR” votes will be elected. Shares represented by proxies will be voted “FOR” the election of each of the three nominees named below, unless the proxy is marked to withhold authority to so vote. If any nominee for any reason is unable to serve or for good cause will not serve, the proxies may be voted for such substitute nominee as the proxy holder might determine. Each nominee has consented to being named in this Proxy Statement and to serve if elected. Proxies may not be voted for more than three directors. Stockholders may not cumulate votes for the election of directors.

  2. Nominees to Our Board of Directors

    Nominees to Our Board of Directors The nominees and their ages, occupations, and length of service on our board of directors as of the date of this Proxy Statement, are provided in the table below and in the additional biographical descriptions set forth in the text below the table.

  3. Nominees to Our Board of Directors

    | Name of Director/Nominee | Age | Position | Director Since | | Sytse Sijbrandij | 45 | Co-Founder and Executive Chair of the Board of Directors | September 2014 | | Matthew Jacobson (1) | 41 | Director | August 2018 | | David Henshall (2) | 56 | Director | March 2025 |

  4. Nominees to Our Board of Directors

    (1)Chair of the nominating and corporate governance committee and member of the compensation and leadership development committee (2)Member of the audit committee Sytse Sijbrandij is our co-founder and has served as Executive Chair of our board of directors since December 2024. Previously, he served as our Chief Executive Officer and Chair of our board of directors from our incorporation in 2014 until December 2024, and has been a member of our board of directors since September 2014. From August 2009 to January 2012, Mr. Sijbrandij also served as a part-time Software Architect at Ministerie van Justitie, the Dutch Ministry of Safety & Justice. From November 2003 to December 2007, Mr. Sijbrandij was the Operational Director at U-Boat Worx B.V., a recreational submersible company. Mr. Sijbrandij earned a B.S. and M.S.c. from the University of Twente in Management Science. We believe Mr. Sijbrandij is qualified to serve as a member of our board of directors because of the historical knowledge, operational expertise, leadership, and continuity that he brings to our board of directors as our co-founder and former Chief Executive Officer. Matthew Jacobson has served as a member of our board of directors since August 2018. Mr. Jacobson has served as a Partner at ICONIQ Capital and General Partner at ICONIQ Growth, an investment and venture capital firm where he has worked since September 2013. Mr. Jacobson serves on the board of directors of Datadog, Inc., a monitoring and data analytics company since July 2019, and served on the board of directors of Braze, Inc. a customer engagement platform company, from July 2017 to April 2023, and Sprinklr, Inc., an enterprise software company, from December 2014 to December 2022. Additionally, Mr. Jacobson serves as chairman of the board of directors for Collibra NV and currently serves on the boards of a number of private technology companies, including BambooHR LLC, Orca Security Ltd., RealtimeBoard Inc. dba Miro, and Relativity ODA LLC. Mr. Jacobson previously served on the board of directors of Twistlock Inc. from July 2018 to July 2019 and as a shareholder representative for Adyen NV from September 2015 to June 2018. Prior to ICONIQ Capital, Mr. Jacobson held operating roles at Groupon and investing roles at Battery Ventures and Technology Crossover Ventures. He began his career as an investment banker at Lehman Brothers. Mr. Jacobson earned a B.S. in Finance and Management from The Wharton School of the University of Pennsylvania. We believe that Mr. Jacobson is qualified to serve as a member of our board of directors because of his executive leadership experience and extensive experience with the venture capital and technology industries. David Henshall has served as a member of our board of directors since March 2025. Mr. Henshall served as President and Chief Executive Officer and as a member of the board of directors of Citrix Systems, Inc., or Citrix, from July 2017 to October 2021. Prior to this role, he served in various other roles at Citrix, including Chief Financial Officer and Chief Operating Officer, among others, beginning in April 2003. Mr. Henshall currently serves on the board of directors at Blackline Systems, Inc., a cloud-based services company for financial close process management since September 2024, and Feedzai, an AI-native fraud prevention solutions company since September 2022. Mr. Henshall previously served on the board of directors of Aspen Technology, an industrial software asset design, operation and maintenance lifecycle company from April 2024 to March 2025, HashiCorp, an infrastructure lifestyle management and security management company from September 2022 to February 2025, Everbridge, Inc., an enterprise software company from January 2022 to July 2024, and New Relic, Inc., a web tracking and analytics company from August 2020 to November 2023. Mr. Henshall holds a B.S. in Business Administration from the University of Arizona and an M.B.A. from Santa Clara University. We believe that Mr. Henshall is qualified to serve as a member of our board of directors because of his executive leadership experience, extensive experience with technology industries, extensive finance experience, and his experience as a director of public companies.

  5. Continuing Directors

    Continuing Directors The directors who are serving for terms that end following the Annual Meeting and their ages, occupations and length of service on our board of directors as of the date of this Proxy Statement are provided in the table below and in the additional biographical descriptions set forth in the text below the table.

  6. Continuing Directors

    | Name of Director | Age | Position | Director Since | | Class II Directors: Karen Blasing (1) | 68 | Director | August 2019 | | Merline Saintil (2) | 48 | Director | November 2020 | | Godfrey Sullivan (3) | 71 | Director | January 2020 | | Class III Directors: William Staples | 52 | Director | December 2024 | | Sundeep Bedi (4) | 51 | Director | August 2021 | | Sue Bostrom (5) | 64 | Director | April 2019 |

  7. Continuing Directors

    (1)Chair of the audit committee (2)Member of the compensation and leadership development committee (3)Lead Independent Director and member of the nominating and corporate governance committee (4)Member of the audit committee (5)Chair of the compensation and leadership development committee and member of the nominating and corporate governance committee Karen Blasing has served as a member of our board of directors since August 2019. Ms. Blasing served as Chief Financial Officer of Guidewire Software, Inc., a back-end systems software company, from July 2009 to March 2015. Ms. Blasing has served as a member of the board of directors of AutoDesk, Inc., a 3D design software company, since March 2018, and Zscaler, Inc., a cloud-based information security company, since January 2017. Ms. Blasing also served as a member of the board of directors of Ellie Mae, Inc. from June 2015 to April 2019. Ms. Blasing earned a B.A. in Economics and Business Administration from the University of Montana and an M.B.A. from the University of Washington. We believe that Ms. Blasing is qualified to serve as a member of our board of directors because of her executive leadership experience, extensive experience in the technology field, extensive finance experience, and her experience as a director of public companies. Merline Saintil has served as a member of our board of directors since November 2020. Ms. Saintil is an experienced senior executive, having served a number of Fortune 500 and privately-held companies, including Change Healthcare Inc., Intuit Inc., Yahoo! Inc., PayPal Holdings Inc., Adobe Inc., and Joyent, Inc. From April 2019 to February 2020, Ms. Saintil served as the Chief Operating Officer, R&D/IT, for Change Healthcare Inc., a payment management software company. Prior to joining Change Healthcare, Ms. Saintil was a senior executive in the Product & Technology group at Intuit Inc., a software company, from November 2014 to August 2018, where her core responsibilities included driving global strategic growth priorities, leading merger and acquisition integration and divestitures, and leading business operations for nearly half of Intuit’s workforce. Prior to Intuit, Ms. Saintil served as Head of Operations for Mobile & Emerging Products for Yahoo! Inc. from January 2014 to November 2014. Prior to joining Yahoo!, Ms. Saintil held various roles at Joyent, Inc., a software company, from November 2011 to September 2013; PayPal Holdings Inc., a payments company, from July 2010 to November 2011; Adobe Inc., a software company, from April 2006 to July 2010; and Sun Microsystems, Inc. from October 2000 to April 2006. Ms. Saintil currently serves as the lead independent director and chair of the nominating and corporate governance committee of Rocket Lab and on the boards of directors of Symbotic since June 2022 and TD SYNNEX Corporation since September 2021. Ms. Saintil is the chair of the nominating and governance committee of Symbotic. She also served on the board of directors and as a member of the Information Systems audit committee of Alkami Technology from October 2020 to December 2022 and as a chair of the nominating and corporate governance committee and member of the audit committee of the Evolv Technology Holdings, Inc. from January 2021 to January 2025. Ms. Saintil holds a Bachelor of Science degree in Computer Science from Florida A&M University and a Master of Science degree in Software Engineering Management from Carnegie Mellon University and has completed Stanford Directors’ College and Harvard Business School’s executive education program. She is certified in Cybersecurity Oversight by the National Association of Corporate Directors and the Carnegie Mellon Software Engineering Institute and has completed Stanford Directors’ College and Harvard Business School’s executive education programs. We believe that Ms. Saintil is qualified to serve as a member of our board of directors because of her executive leadership experience, product experience, and extensive experience in the technology field. Godfrey Sullivan has served as a member of our board of directors since January 2020 and as our lead independent director since March 2021. Mr. Sullivan served as President and CEO of Splunk Inc., an operational intelligence software company from 2008 to November 2015. Prior to that, Mr. Sullivan served as President and CEO of Hyperion Solutions, LLC, a business performance management software company, from October 2001 to June 2007. Prior to joining Hyperion Solutions, LLC, Mr. Sullivan served in roles of increasing responsibility from August 1992 to June 2000 at Autodesk, Inc., a 3D design software company. Prior to joining Autodesk, Inc., Mr. Sullivan served in roles of increasing responsibility from 1985 to 1992 at Apple, Inc., a multinational technology company. Mr. Sullivan has served as a member of the board of directors of CrowdStrike, Inc. a cybersecurity technology company, since November 2017 and Marqeta, Inc., a modern card issuing company, since May 2021. Mr. Sullivan previously served as a member of the board of directors of Splunk Inc., an operational intelligence platform company, from 2008 to March 2019, RingCentral, Inc., a provider of cloud-based communications and collaboration solutions, from April 2019 to March 2021, Informatica Corporation, a data integration software provider, from 2008 to 2013, and Citrix Systems Inc., an enterprise software company, from February 2005 to June 2018. Mr. Sullivan earned a B.B.A. in Real Estate and Economics from Baylor University. We believe that Mr. Sullivan is qualified to serve as a member of our board of directors because of his executive leadership experience and extensive experience as a director of public companies. William Staples has served as our Chief Executive Officer since December 2024. Before joining GitLab, Mr. Staples served as the Chief Executive Officer and as a member of the Board of New Relic, Inc. (“New Relic”) from July 2021 to December 2023. Prior, he served as New Relic’s President and Chief Product Officer from January 2021 to July 2021. From September 2017 to January 2020, Mr. Staples served as the Vice President of Experience Cloud Engineering at Adobe Inc., where he led the global engineering team behind Adobe Inc.’s market-leading Experience Cloud. From 1999 to March 2016, Mr. Staples served in various product, design and engineering roles at Microsoft, Inc., most recently as Vice President of Azure Application Platform. He holds a B.S. from the University of Utah. We believe that Mr. Staples is qualified to serve as a member of our board of directors because of his extensive experience as a product executive in the technology industry and his understanding of our business strategies and objectives as our chief executive officer. Sundeep Bedi has served as a member of our board of directors since August 2021. Mr. Bedi served as Chief Information Officer and Chief Development Officer of Snowflake Inc. from January 2020 to March 2025. Previously, Mr. Bedi served in positions of increasing responsibility at Nvidia Corp. from February 2008 through January 2020, most recently as Vice President of Global IT. Mr. Bedi earned a B.S. in Biology from the University of San Francisco and an M.B.A. from the University of San Francisco. We believe Mr. Bedi is qualified to serve as a member of our board of directors because of his technical expertise and leadership experience in the technology industry.

  8. Continuing Directors

    Sue Bostrom has served as a member of our board of directors since April 2019. Ms. Bostrom served as Executive Vice President and Chief Marketing Officer at Cisco Systems, Inc., a technology services and products company, where she was an executive from 1997 to 2011. Ms. Bostrom currently serves as the lead independent director and chair of the leadership development & compensation committee of ServiceNow, Inc., a cloud-based solutions software company and has been a board member since July 2014. Ms. Bostrom has served as a member of the board of directors of SingleStore, a software as a service company, since October 2022, Samsara, a cloud operations platform company, since March 2021, Outreach, a sales engagement platform company, since March 2020. Ms. Bostrom served as a member of the board of directors of Anaplan, Inc., a business planning software platform company, from September 2017 to June 2022, Nutanix, Inc. a virtualized datacenter platform company, from October 2017 to March 2022, Cadence Design Systems, a computational software company, from February 2011 to May 2021, and Varian Medical Systems, a radiation oncology treatments and software company, from February 2005 to February 2019. Ms. Bostrom earned a B.S. in Business from the University of Illinois and an M.B.A. from Stanford University. We believe that Ms. Bostrom is qualified to serve as a member of our board of directors because of her executive leadership experience, compensation committee experience, and experience as a director of public companies. There are no family relationships among our directors and executive officers.

  9. Director Compensation

    Director Compensation The following table provides information for the fiscal year ended January 31, 2025 regarding all compensation awarded to, earned by or paid to each person who served as a director for some portion or all of fiscal year 2025. Mr. Staples is not included in the table below as he is a team member and receives no compensation for his service as a director. The compensation received by Mr. Sijbrandij as a team member prior to his resignation as our Chief Executive Officer, effective December 5, 2024, and Mr. Staples as our Chief Executive Officer, is shown in the “Executive Compensation—Summary Compensation Table” below, provided that, as noted in footnote 6 below, the incremental fair value of Mr. Sijbrandij’s stock option granted on May 17, 2021 is shown both in the section titled “Executive Compensation—Summary Compensation Table” and in the table below.

  10. Director Compensation

    | Name | | Fees Earned or Paid in Cash ($) (1) | | Stock Awards ($) (2) (3) | | Total ($) | | Sundeep Bedi | $45,000 | | $199,976 | | $244,976 | | | Karen Blasing | $55,000 | | $199,976 | | $254,976 | | | Sue Bostrom | $59,000 | | $199,976 | | $258,976 | | | David Henshall | — | | — | | — | | | Matthew Jacobson (4) | — | | — | | — | | | Mark Porter (5) | $9,000 | | — | | $9,000 | | | Merline Saintil | $42,500 | | $199,976 | | $242,476 | | | Sytse Sijbrandij (6) | — | | $16,952,490 | | $16,952,490 | | | William Staples | — | | — | | — | | | Godfrey Sullivan | $67,000 | | $199,976 | | $266,976 | |

  11. Director Compensation

    (1)The amounts reported in this column represent amounts paid pursuant to our non-employee director compensation policy as outlined below. (2)The amounts reported in this column represent the aggregate grant date value of equity awards made to directors in the fiscal year ended January 31, 2025 computed in accordance with Financial Accounting Standard Board Accounting Standards Codification Topic 718 (”ASC 718”). This amount does not reflect the actual economic value realized by the director, which will vary depending on the performance of our Class A common stock. (3)The table below sets forth information regarding (i) the aggregate number of unvested shares of our Class A common stock underlying RSU awards, (ii) the aggregate number of shares of our Class A common stock underlying outstanding stock options which have not been exercised, and (iii) the aggregate number of unvested shares of our Class A common stock underlying early exercised option awards which remain subject to repurchase by GitLab, in each case held by each non-employee director as of January 31, 2025. Each of the option awards listed below has the following vesting schedule: 25% of the total number of options vest on the one year anniversary of the grant date and 1/48th of the total number of options vest monthly thereafter, subject to continued service through the applicable vesting date. (4)Mr. Jacobson has waived any compensation payable under our non-employee director compensation policy described below. (5)Mr. Porter resigned from the board of directors effective April 12, 2024. (6)Mr. Sijbrandij resigned from his position as our Chief Executive Officer effective December 5, 2024. The amount reported in the Stock Awards column represents the incremental fair value attributable to a modification of a stock option granted on May 17, 2021, computed as of the modification date in accordance with Financial Accounting Standard Board Accounting Standards Codification Topic 718, and is also reported in the Summary Compensation Table.

  12. Director Compensation

    | Name | Number of Shares Underlying Unvested Restricted Stock Units Held at Fiscal Year End | Number of Shares Underlying Outstanding Options Held at Fiscal Year End | Number of Shares Underlying Exercised Unvested Options Held at Fiscal Year End | | Sundeep Bedi | 4,044 | 27,000 (1) | — | | Karen Blasing | 4,044 | — | — | | Sue Bostrom | 4,044 | — | — | | David Henshall | — | — | — | | Matthew Jacobson | — | — | — | | Mark Porter (2) | — | — | — | | Merline Saintil | 4,044 | 70,000 | — | | Sytse Sijbrandij | — | 1,500,000 (3) | — | | William Staples | — | — | — | | Godfrey Sullivan | 4,044 | — | — |

  13. Director Compensation

    (1) 5,250 shares of our Class B common stock (or 5,250 shares of our Class A common stock upon the holder’s election to convert such shares of Class B common stock to shares of Class A common stock) underlying this option award were unvested as of January 31, 2025. (2) Mr. Porter resigned from the board of directors effective April 12, 2024. (3) 400,000 shares of our Class B common stock (or 400,000 shares of our Class A common stock upon the holder’s election to convert such shares of Class B common stock to shares of Class A common stock) underlying this option award were unvested as of January 31, 2025.

  14. Non-Employee Director Compensation Arrangements

    Non-Employee Director Compensation Arrangements Our board of directors approved the following cash and equity compensation for our non-employee directors.

  15. Executive Summary

    Executive Summary 2025 Business Highlights We are a growing global software company that pioneered the DevSecOps platform - the most comprehensive enterprise AI-powered DevSecOps platform for software innovation. Our platform is uniquely built as a single application and interface with a unified data model, enabling all stakeholders in the software delivery lifecycle – from development teams to operations teams to security teams – to work together in a single tool with a single workflow. With GitLab, stakeholders can build better, more secure software, faster. The goal of our compensation programs is to ensure that the interests of our team members, including our NEOs, are aligned with the interests of our stockholders and our business goals, and that the total compensation paid to each of our NEOs is fair, reasonable, and competitive. During fiscal year 2025, we made significant progress on our business goals, with strong results across all our key operating metrics, including the following achievements that impacted executive compensation: ●Total revenue was $759.2 million, representing 31% year-over-year growth; ●GAAP operating margin was (19)% compared to (32)% in fiscal year 2024; Non-GAAP operating margin was 10% compared to (0.2)% in fiscal year 2024; ●Customers with more than $5,000 of annual recurring revenue (“ARR”) reached 9,893, an increase of 15% year-over-year; ●Customers with more than $100,000 of ARR reached 1,229, an increase of 29% year-over-year; ●Customers with more than $1,000,000 of ARR reached 123, up 28% from the fourth quarter of fiscal year 2024; and ●Dollar-Based Net Retention Rate was 123% as of the end of fiscal year 2025. By delivering compensation in a mix of fixed and variable pay, including long-term vesting equity awards, we seek to align the incentives of our NEOs with the achievement of long-term business objectives and financial performance as well as our core values. Further, a majority of total direct compensation for our NEOs is awarded in the form of at-risk cash annual incentives and long-term vesting equity awards. A Note on Non-GAAP Measures & Key Operating Metrics As further described below, our executives’ performance is, in part, measured and rewarded based on GitLab’s achievement of certain non-GAAP financial measures and operating metrics: Net Annual Recurring Revenue (“Net ARR”), non-GAAP Operating Income (“NGOI”) (which we also refer to as loss from operations on a non-GAAP basis), and Run Rate Revenue. Net ARR is the change in ARR from one period to another on a bookings basis, which is measured by opportunity close date. We define annual recurring revenue as the annual run-rate revenue of subscription agreements, including our self-managed and SaaS offerings but excluding professional services, from all customers as measured on the last day of a given month. We calculate ARR by taking the monthly recurring revenue (“MRR”) and multiplying it by 12. MRR for each month is calculated by aggregating, for all customers during that month, monthly revenue from committed contractual amounts of subscriptions, including our self-managed license, self-managed subscription, and SaaS subscription offerings but excluding professional services. We define “run-rate revenue” as the sum of the most recent three months of revenue at the end of each quarter multiplied by 4. A reconciliation of the differences between each non-GAAP financial measure and the comparable GAAP financial measure, are provided in “Appendix A—Reconciliation of Non-GAAP Measures”. 2025 Compensation Highlights Our fiscal year 2025 compensation plans and payouts for our NEOs reflects our overarching philosophy of pay-for-performance. Highlights of our compensation program include: ●Competitive salary increases: Salary increases were targeted to align with the 50th percentile of our public company peers. ●Competitive CEO new hire compensation: New hire compensation for Mr. Staples, appointed as our Chief Executive Officer in December 2024, included competitive cash and long-term incentive pay aligned with market data. In addition, Mr. Staples’ initial equity award incorporates multi-year performance goals tied to rigorous financial metrics for 40% of that target award value. ●Rigorous annual incentive goals: Our NEOs were eligible to earn cash annual incentives based on our level of achievement of Net ARR and NGOI. Based on our actual performance and eligible earnings, each eligible NEO earned a bonus equal to 98.61% of their respective target. ●Emphasis on long-term equity awards: Long-term incentives in the form of equity awards are a key component of our NEOs’ compensation. During fiscal year 2025, the CLDC approved grants of time-based RSUs. These grants were intended to support retention and motivate executives to achieve ambitious long-term growth targets tied to our strategic plan for building long-term stockholder value. ●Benefits and stock purchase plan: We offer competitive health and welfare benefits (and other employee benefit plans) and participation in an employee stock purchase plan. Compensation Philosophy and Objectives Our mission is to empower customers to deliver secure software, faster. Our compensation programs are designed to support our mission by providing competitive and transparent compensation that: ●supports our ability to recruit, retain, and motivate top talent; ●aligns the interests of our executives with those of our stockholders; ●reinforces a strong pay-for-performance culture; and ●balances short- and long-term corporate goals and strategies. We seek to achieve these objectives by providing executive talent with compensation that is competitive with the practices of companies in our peer group and marketplace, with individual pay decisions approved in the context of both the company’s and individual performance. We are committed to iteration and transparency, and we welcome contributions from our team members and stakeholders as we strive to maintain a fair and equitable compensation program that supports our long-term growth and success. In addition, the CLDC seeks to ensure that we maintain sound governance in setting our compensation policies and practices. In designing and overseeing our executive compensation program, we strive to employ best practices and regularly assess our policies and practices.

  16. Executive Summary

    | What we do | What we don’t do | | ●A significant portion of our executive compensation program is not guaranteed and is dependent upon stock price appreciation or other variable, at-risk, pay components that are disclosed to our stockholders ●Prior to making executive compensation decisions, we review peer company compensation data ●Our NEOs participate in broad-based company-sponsored health and welfare benefits programs on the same basis as our other full-time, salaried team members ●We ensure that short-term cash incentives and any performance stock unit (“PSU”) awards we may grant cap maximum payouts ●Our CLDC retains the services of Compensia as an independent consultant to advise the CLDC on compensation matters related to our executive and director compensation programs; Compensia does not perform any other services for GitLab | ●We do not provide tax gross-ups related to change in control ●NEOs may not directly or indirectly pledge GitLab’s common stock as collateral for any obligation ●NEOs may not directly or indirectly engage in transactions intended to hedge or offset the market value of GitLab’s common stock owned directly or indirectly ●We do not provide guaranteed compensation increases or bonuses to any of our NEOs |

  17. Executive Compensation Program Design

    Executive Compensation Program Design Our CLDC believes that our executive compensation programs should be tied to our overall performance and aligned with our core values. Our CLDC evaluates our compensation philosophy and executive compensation programs annually, ensuring that our programs (i) remain competitive relative to our market and peer group for attracting and retaining executive talent and (ii) align with our strategic objectives. By delivering compensation in a mix of fixed and variable pay, including long-term vesting equity awards, we seek to align the incentives of our NEOs with the achievement of long-term business objectives and financial performance that drives sustained stockholder value. To support our long-term objectives and reinforce a strong pay-for-performance culture, a majority of total direct compensation for our NEOs is awarded in the form of at-risk cash annual incentives and long-term vesting equity awards. In addition, our compensation program includes competitive base salaries and standard health and welfare benefits that are generally available to our other team members, including medical, dental, vision, life, and disability insurance and 401(k) plans. To assess the competitiveness of our total direct compensation, the CLDC also considers the total direct compensation among companies in our peer group. The CLDC does not have a set formula by which it determines how much of the executive’s compensation is fixed (e.g., base salary) rather than variable or at-risk. For fiscal year 2025, the material elements of our executive compensation program were:

  18. Executive Compensation Program Design

    | Compensation Element | Overview | Purpose | | Base Salary | Base salaries provide a fixed level of compensation tied to competitive market practice among peers and comparable software companies | Designed to attract and retain highly talented executives by providing fixed compensation amounts that are competitive in the market and reward performance | | Annual Cash Incentive | Annual cash incentives provide a shorter-term incentive for executives based on achievement of annual goals tied to net ARR and NGOI | Designed to motivate our executives to achieve short-term financial objectives while making progress towards longer-term value creation | | Long-Term Incentive Equity | Fiscal year 2025 long-term incentives were granted (except for Mr. Staples who received a new hire grant) in the form of RSUs that vest over a two- to four-year time horizon | Designed to align the interests of our executives and stockholders by motivating executives to create sustainable long-term stockholder value | | Benefits | We offer competitive health and welfare benefits, a 401(k) plan, participation in an employee stock purchase plan, and other employee benefit plans | Designed to align with competitive norms for comparable companies |

  19. Executive Compensation Program Design

    Chief Executive Officer Compensation William Staples On December 3, 2024, the Board appointed William Staples as our Chief Executive Officer, effective as of December 5, 2024. In designing Mr. Staples’ compensation package, our CLDC, advised by its independent compensation consultant Compensia, sought to deliver a competitive level of compensation that aligns with our desired pay-for-performance culture and objectives. The CLDC reviewed market data among companies in our compensation peer group as well as new-hire equity compensation among recently hired chief executive officers of comparable public companies. In addition to market data, our CLDC considered the highly competitive market for a talented, experienced technology executive and the relevance of Mr. Staples’ background and experience. Based on these considerations, our CLDC approved the following elements of pay for Mr. Staples in connection with the offer of employment as our Chief Executive Officer: •An initial annual base salary of $600,000 •Eligibility for a target annual bonus equal to 100% of base salary •A restricted stock unit award covering $24.0 million of the Company’s Class A common stock that will vest quarterly over a four year period, subject to a six month cliff •A performance equity award covering $16.0 million of the Company’s Class A common stock, which will vest in three equal tranches achieved over a three year period based on the satisfaction of applicable financial performance metrics for each of fiscal years 2026, 2027 and 2028 (each, a “Performance Period”). PSUs that have not vested at the end of the applicable Performance Period will be forfeited and will not remain eligible to be earned in following Performance Periods. The CLDC believes that a mix of time-vesting RSUs and PSUs with challenging multi-year performance objectives represents a competitive approach that reinforces a strong pay-for-performance culture and aligns the interests of our newly appointed chief executive officer with the interests of our stockholders.

  20. Compensation Decision-Making Process

    Compensation Decision-Making Process Determination of Compensation Awards The CLDC’s goal is generally to target elements of compensation within a competitive range, using a balanced approach that does not use rigid percentiles to target pay levels for each compensation element. For fiscal year 2025, the CLDC reviewed each element of compensation described below and set the target total direct compensation opportunities of our NEOs after taking into consideration the following factors: ●market data, including practices among companies in our compensation peer group; ●each executive officer’s scope of responsibilities; ●each executive officer’s tenure, skills, and experience; ●each executive officer’s performance; ●internal pay equity across the executive management team; ●our overall performance, taking into consideration performance versus internal plans and industry peers; ●the recommendations of our former CEO (other than with respect to the former CEO’s own compensation); and ●general market conditions. The CLDC does not assign relative weights or rankings to any of these factors and does not solely use any quantitative formula, target percentile, or multiple for establishing compensation among the executive officers or in relation to competitive market data. Role of the Compensation and Leadership Development Committee The CLDC is responsible for overseeing our executive compensation program and all related policies and practices. The CLDC’s primary duties are to regularly meet, review, and advise our board of directors on our overall compensation philosophy, policies, and plans, including a review of both regional and industry compensation practices and trends. The CLDC meets regularly during the fiscal year both with and without the presence of our CEO and other NEOs. The CLDC also discusses compensation issues with our CEO (except with respect to the CEO’s own compensation) and other members of the board of directors between its formal meetings. Role of Management Our people group and legal teams support the CLDC in designing our executive compensation program and analyzing competitive market practices. In addition, members of management, including our CEO, regularly participate in CLDC meetings to provide input on our compensation philosophy and objectives. Our CEO also evaluates the performance of our executives and provides recommendations to the CLDC regarding the compensation of our NEOs (other than with respect to the CEO’s own compensation). The CLDC reviews and discusses these recommendations and proposals with our CEO and uses them as one factor, among others, in determining and approving the compensation for our NEOs. Role of the Consultant The CLDC may engage the services of outside advisors, experts, and others to assist the CLDC. During fiscal year 2025, the CLDC retained the services of Compensia as independent compensation consultant to advise the CLDC on compensation matters related to our executive and director compensation programs. In fiscal year 2025, Compensia provided the following support: ●assisted in the review and updating of our compensation peer group; ●analyzed the executive compensation levels and practices of the companies in our peer group; ●provided advice with respect to compensation best practices and market trends for our current CEO, NEOs and directors; ●assisted with the design of the short-term and long-term incentive compensation plans when appropriate; ●performance goals and targets for our NEOs and other executives; and ●provided ad hoc advice and support throughout the year. Compensia reported to and worked for the CLDC. Prior to engaging Compensia, the CLDC considered the specific independence factors adopted by the SEC and Nasdaq, and determined that Compensia is independent and that Compensia’s work did not raise any conflicts of interest. Role of Competitive Market Data As part of its annual compensation review process, the CLDC generally reviews competitive market data for positions comparable to those of our NEOs and other key executives. In September 2023, the CLDC reviewed the executive compensation practices of GitLab’s peer group. The executive compensation peer group approved by the CLDC comprised direct competitors and cloud, enterprise, and security software companies. Additional factors that were considered in identifying peers included: ●revenue between about $150 million and $1.4 billion and a preference for strong revenue growth; ●a market capitalization between $2.5 billion and $23.0 billion; and ●headquarters in the United States with a preference in major metro areas and tech hubs. Based on these criteria the CLDC approved the following peer group of 20 companies for fiscal year 2025 compensation related decisions:

  21. Cash Annual Incentive Compensation

    Cash Annual Incentive Compensation Our cash incentive bonus plan motivates and rewards our executives for achievements relative to our goals and expectations for each fiscal year. Each NEO has a target bonus opportunity, defined as a percentage of their respective annual base salary. Following the end of each fiscal year, our CLDC determines the annual cash incentive bonuses paid to our NEOs based on GitLab’s financial performance for the applicable fiscal year relative to GitLab’s annual approved budget and achievement of corporate objectives for the applicable fiscal year. Target Annual Bonuses At the beginning of each fiscal year, the CLDC reviews and approves the target annual bonus for each of our executive officers, including our NEOs. The CLDC considers the factors described in “Compensation Decision-Making Process—Determination of Compensation Awards”, with an emphasis on market data from our peer group for comparable positions. Target annual bonuses are determined with respect to the same corporate objectives and formula for all of our executive officers, including our NEOs. The independent members of our board of directors review any target annual bonus to be paid to GitLab’s CEO. Our former CEO was not eligible for a bonus for fiscal year 2025. Fiscal Year 2025 Target Annual Bonuses In the first quarter of fiscal year 2025, the CLDC reviewed the target annual bonuses of our executive officers, including our NEOs. The CLDC considered the factors described in “Compensation Decision-Making Process—Determination of Compensation Awards”, particularly the market data from the companies in GitLab’s peer group, and approved the fiscal year 2025 target annual bonuses of our NEOs below:

  22. Cash Annual Incentive Compensation

    | Executive | Base Salary | Target Bonus | Target Bonus Opportunity | | W. Staples | $600,000 | 100% | $600,000 | | S. Sijbrandij | $0.25 | n/a | n/a | | B. Robins | $450,000 | 70% | $315,000 | | R. Schulman | $440,000 | 50% | $220,000 | | S. Farmer | $450,000 | 60% | $270,000 | | C. Weber (1) | $475,000 | 100% | $475,000 |

  23. Cash Annual Incentive Compensation

    (1)Mr. Weber resigned from the Company effective August 4, 2024. Fiscal Year 2025 Corporate Performance Targets When designing GitLab’s non-equity incentive plan for fiscal year 2025 (the “2025 Bonus Plan”) the CLDC determined that the 2025 Bonus Plan should align the interests of our executives with those of our stockholders, and reward performance that would increase the value of GitLab to our stockholders. Accordingly, the CLDC decided that payments under the 2025 Bonus Plan would depend on GitLab’s achievement of Net ARR and NGOI (each as defined in “Executive Summary—A Note on Non-GAAP Measures & Key Operating Metrics”) goals for fiscal year 2025, with Net ARR weighed at 70% and NGOI at 30% of the total non-equity bonus award. Under the 2025 Bonus Plan, no bonus was payable with respect to a particular measure (Net ARR or NGOI) if the percentage achievement was below certain Net ARR and NGOI thresholds. If either Net ARR or NGOI was at or above certain threshold value/percentages, the payout with respect to those measures was between 50% and 200% of the target bonus, interpolated on a straight-line basis in the event of actual performance between the threshold and target or between target and maximum performance objectives.

  24. Cash Annual Incentive Compensation

    | | Threshold | | Target | | Maximum | | | NGOI | 2% | 50% Payout | 7% | 100% Payout | >15% | 200% Payout |

  25. Cash Annual Incentive Compensation

    Fiscal Year 2025 Corporate Bonus Results In March 2025, the CLDC determined that for the purposes of determining payouts to the 2025 Bonus Plan, GitLab’s performance was equal to 90.5% of Net ARR and +4.1pt of NGOI targets for the year, respectively. As a result, the weighted payout for the 2025 Bonus Plan was equal to 98.61% of target.

  26. Long-Term Incentives

    Long-Term Incentives We grant annual long-term incentive equity awards with multi-year vesting requirements to incentivize and reward our NEOs for long-term corporate performance based on the value of our common stock and, thereby, aligning the interests of our NEOs with those of our stockholders. The annual equity awards granted to our NEOs were determined by our CLDC after reviewing data from a competitive market analysis prepared by Compensia. In addition, GitLab’s CLDC considers the input of our CEO regarding the individual performance and pay levels for his direct reports. Fiscal Year 2025 Equity Compensation The CLDC regularly evaluates our executive compensation programs to ensure that the programs support retention and a strong pay-for-performance culture, provide competitive compensation opportunities, and align with our long-term business objectives. Annual Awards On March 28, 2024, the CLDC approved equity awards consisting of RSUs to our key executives (including our NEOs (other than our current and former CEO)), in order to: (1) support retention of key executives in a competitive market and reinforce a pay-for-performance culture, (2) motivate such key executives who are nearing the end of valuable pre-initial public offering grants to achieve ambitious long term goals, and (3) further align the rewards for such key executives with achieving the long term goals of GitLab. The RSUs in the table immediately below were issued on March 28, 2024, and will vest quarterly over four years with a 6 month cliff and were approved in accordance with the requirements of our equity granting policies, except for Ms. Farmer’s RSUs will vest at 31% in year one and 23% in years two to four. The NEOs listed below received the following RSUs:

  27. Long-Term Incentives

    | Executive | RSUs Granted | Total Grant Value | | B. Robins | 89,437 | $5,215,966 | | R. Schulman | 56,218 | $3,278,634 | | S. Farmer | 223,168 | $13,015,158 |

  28. Long-Term Incentives

    Additional Awards On June 22, 2024 and December 13, 2024, the CLDC approved retention equity awards consisting of RSUs to our key talent and executives (including our NEOs other than our former CEO). These awards were aimed to incentivize this group of team members to stay focused on results for our customers and ensure GitLab’s investment in their future during a critical period for the Company. The NEOs listed below received the following RSUs:

  29. Long-Term Incentives

    | Executive | RSUs Granted | Total Grant Value | | B. Robins (1) | 18,835 | $825,350 | | B. Robins (2) | 31,862 | $1,867,113 | | R. Schulman (3) | 18,835 | $825,350 | | R. Schulman (4) | 18,835 | $825,350 | | S. Farmer (5) | 18,835 | $825,350 | | C. Weber (6) (7) | 18,835 | $825,350 |

  30. Long-Term Incentives

    (1)The grant was issued on June 22, 2024 and will vest quarterly over two years with a 15 month cliff. (2)The grant was issued on December 13, 2024 and will vest quarterly over two years. (3)The grant was issued on June 22, 2024 and will vest quarterly over two years with a 15 month cliff. (4)The grant was issued on June 22, 2024 and will vest quarterly over four years. (5)The grant was issued on June 22, 2024 and will vest quarterly over two years with a 15 month cliff. (6)The grant was issued on June 22, 2024 and was to have vested quarterly over two years with a 15 month cliff. (7)Mr. Weber resigned from the Company effective August 4, 2024. CEO New Hire Equity In connection with the appointment of Mr. Staple’s appointment as CEO, the CLDC and the Board approved the following grants to Mr. Staples:

  31. Long-Term Incentives

    | Executive | RSUs Granted | Total Grant Value | | W. Staples (1) | 254,898 | $15,558,974 | | W. Staples (2) | 382,348 | $23,338,522 |

  32. Long-Term Incentives

    (1)Mr. Staples’s grant will vest annually if certain performance conditions are met over three years and was approved in accordance with the requirements of our equity granting policies. The grant was issued on December 12, 2024. The number of shares granted is determined by dividing the total award value approved by the board of directors or the CLDC, as applicable, by the average price of our Class A common stock during the 30 calendar days up to the 5th day of the month the grant was awarded. (2)Mr. Staples’s grant will vest quarterly over four years with a 6 month cliff and was approved in accordance with the requirements of our equity granting policies. The grant was issued on December 12, 2024. The number of shares granted is determined by dividing the total award value approved by the board of directors or the CLDC, as applicable, by the average price of our Class A common stock during the 30 calendar days up to the 5th day of the month the grant was awarded. Time Vesting Restricted Stock Grants The RSUs set forth in the above tables are subject to Mr. Staple’s continued employment through the applicable vesting date. Vesting, in the event his employment is terminated by GitLab without cause or, if applicable, by Mr. Staple for good reason, will be determined in accordance with such addendum to his offer letter, if applicable. Vesting of the RSUs will accelerate in the event of death or disability, in accordance with GitLab’s Death and Disability Policy. Former CEO Performance Equity Awards In May 2021, our board of directors, with participation by every independent member of the board of directors, granted to Mr. Sijbrandij, our former CEO, an option award (the “Former CEO Option Award”) and PSU award (the “Former CEO PSU Award”). The Former CEO PSU Award terminated in connection with Mr. Sijbrandij’s resignation as our Chief Executive Officer in December 2024. As of January 31, 2025, no PSUs were outstanding pursuant to the Former CEO PSU Award. In connection with Mr. Sijbrandij’s transition to Executive Chair of our board of directors, the board of directors approved the modification of the Former CEO Option Award to provide for continued vesting for so long as he continues to provide services to the company as Executive Chair of the board of directors. Although no additional stock options were granted, the modification of the vesting conditions of the Former CEO Option Award resulted in an incremental accounting charge that is also reported in the Summary Compensation Table below. Mr. Sijbrandij does not receive any other compensation in his capacity as our Executive Chair other than the continued vesting of the Former CEO Option Award. The CLDC considered this modification reasonable to support Mr. Sijbrandij’s continued engagement as our Company’s co-founder and in the context of his expected contributions as our Executive Chair. Fiscal Year 2023 PSUs Attainment In June 2022, the board of directors approved a one-time equity award to our executive officers consisting of PSUs based on certain revenue-based performance goals as of the fourth quarter of fiscal year 2025.

  33. Long-Term Incentives

    | Executive | Target PSUs Granted | Total Shares Attained | | B. Robins | 78,121 | 48,044 | | R. Schulman | 37,069 | 22,797 |

  34. Long-Term Incentives

    In March 2025, the CLDC determined that for the purposes of determining payouts related to the fiscal year 2023 PSUs, GitLab achieved 84.6% of the PSU revenue target. As a result, the payout of the fiscal year 2023 PSUs was equal to 61.5% of target. The earned PSUs will vest in equal twenty-five percent (25%) increments over four quarters beginning in March 2025.

  35. Summary Compensation Table

    Summary Compensation Table The following table provides information concerning compensation awarded to, earned by or paid to each of our NEOs for all services rendered in all capacities during the fiscal years ended January 31, 2025, 2024, and 2023, respectively.

  36. Summary Compensation Table

    | Name and Principal Position | Fiscal Year | Salary ($) | Option Awards ($) | Equity Awards ($) (2) | Non-Equity Incentive Plan Compensation ($) (3) | All Other Compensation ($) (4) | Total ($) | | William Staples (5) Chief Executive Officer | 2025 | $92,500 | — | $38,897,496 (6) | $92,248 | — | $39,082,244 | | Sytse Sijbrandij Co-Founder, Former Chief Executive Officer, and Executive Chair of the Board of Directors | 2025 2024 2023 | $0.25 $0.25 $0.25 | $16,952,490 (1) — — | — — — | — — — | $900 $3,600 $3,600 | $16,953,390 $3,600 $3,600 | | Brian Robins Chief Financial Officer | 2025 2024 2023 | $450,000 $430,000 $400,000 | — — — | $7,908,429 $3,631,100 $5,730,146 (7) | $310,622 $352,441 $255,606 | — $1,575 $1,600 | $8,669,051 $4,415,116 $6,387,352 | | Robin Schulman Chief Legal Officer, Head of Legal and Corporate Affairs, and Corporate Secretary | 2025 2024 2023 | $440,000 $395,000 $370,000 | — — — | $4,929,333 $1,815,550 $2,718,982 (7) | $216,942 $231,253 $168,883 | — $25,000 (8) $20,333 (8) | $5,586,275 $2,466,803 $3,278,198 | | Sabrina Farmer Chief Technology Officer | 2025 | $450,000 | — | $13,840,507 | $266,247 | — | $14,556,754 | | Christopher Weber (9) (10) Former Chief Revenue Officer | 2025 2024 | $241,099 $257,292 | — — | $825,350 $22,980,655 | — $300,515 | — — | $1,066,449 $23,538,462 |

  37. Summary Compensation Table

    (1)The amount reported in the Option Awards column for Mr. Sijbrandij represents the incremental fair value attributable to a modification of a stock option granted to him on May 17, 2021, computed as of the modification date in accordance with Financial Accounting Standard Board Accounting Standards Codification Topic 718. Due to Mr. Sijbrandij’s resignation from his position as Chief Executive Officer on December 3, 2024, effective December 5, 2024, this amount is also reported in the table provided in the section titled “Proposal No. 1 Election of Directors–Director Compensation”. (2)The amounts presented represent the aggregate grant-date fair value of the stock awards awarded to the NEO during each fiscal year, in accordance with FASB Accounting Standards Codification Topic 718. The grant-date fair value does not take into account any estimated forfeitures related to service-based vesting conditions. The PSUs granted in fiscal 2023 have a revenue performance condition and a service condition. The value of the number of awards granted that is reflected in the table represents 100% of the target goal under the performance condition. Under the terms of the awards, the recipient may earn between 0% and 200% of the original grant. Should the highest level of the performance condition be achieved, the awards granted in fiscal 2023 have a grant date fair value of $9,168,251 for Mr. Robins; $4,350,389 for Ms. Schulman. (3)The amounts presented represent performance bonuses earned in each fiscal year based on the achievement of corporate performance metrics set by the board of directors. (4)For Mr. Robins and Ms. Schulman, the amounts presented represent 401(k) company matching contributions. For Mr. Sijbrandij, the amounts presented represent employer life insurance premium contributions. (5)Mr. Staples was appointed Chief Executive Officer effective December 5, 2024. Amounts presented represent Mr. Staples’ prorated salary. Mr. Staples’ annual salary for fiscal year 2025 was $600,000. (6)The PSUs granted in fiscal 2025 have a revenue performance condition and a service condition. The value of the number of awards granted that is reflected in the table represents 100% of the target goal under the performance condition. Under the terms of the awards, the recipient may earn between 0% and 200% of the original grant. Should the highest level of the performance condition be achieved, the awards granted in fiscal 2025 have a grant date fair value of $31,117,948 for Mr. Staples, which would result in a total grant date fair value of $54,456,470 for all of Mr. Staples equity awards. (7)The PSUs granted in fiscal 2023 have a revenue performance condition and a service condition. The value of the number of awards granted that is reflected in the table represents 100% of the target goal under the performance condition. Under the terms of the awards, the recipient may earn between 0% and 200% of the original grant. Should the highest level of the performance condition be achieved, the awards granted in fiscal 2023 have a grant date fair value of $9,168,251 for Mr. Robins and $4,350,389 for Ms. Schulman. (8)Includes a $5,000 a month stipend approved by the CLDC for Ms. Schulman’s service as Acting Chief Information Security Officer. (9)Mr. Weber was appointed Chief Revenue Officer effective July 17, 2023 and the value reflects Mr. Weber’s new-hire grant. (10)Mr. Weber resigned from the Company effective August 4, 2024.

  38. Grants of Plan-Based Awards Table

    Grants of Plan-Based Awards Table The following table provides information concerning each grant of an award made in fiscal year 2025 for each of our NEOs under any plan. This information supplements the information about these awards set forth in the “Summary Compensation Table.”

  39. Grants of Plan-Based Awards Table

    | Name | Type of Award | Grant Date | Estimated Future Payouts Under Non-Equity Incentive Plan Awards | | | All Other Stock Awards: Number of Shares of Stock or Units (#) | Grant Date Fair Value of Stock and Option Awards ($) (1) | | | | | Threshold ($) | Target ($) | Maximum ($) | | | | William Staples | Cash | — | $300,000 | $600,000 | $1,200,000 | — | — | | | PSU | December 12, 2024 | — | — | — | 254,898 | $15,558,974 | | | RSU | December 12, 2024 | | | | 382,348 | $23,338,522 | | Sytse Sijbrandij (2) | NQ | December 5, 2024 | | | | 1,500,000 | $16,952,490 | | Brian Robins | Cash | — | $157,500 | $315,000 | $630,000 | — | — | | | RSU | March 28, 2024 | — | — | — | 89,437 | $5,215,966 | | | RSU | June 22, 2024 | | | | 18,835 | $825,350 | | | RSU | December 13, 2024 | | | | 31,862 | $1,867,113 | | Robin Schulman | Cash | — | $110,000 | $220,000 | $440,000 | — | — | | | RSU | March 28, 2024 | — | — | — | 56,218 | $3,278,634 | | | RSU | June 22, 2024 | | | | 18,835 | $825,350 | | | RSU | June 22, 2024 | | | | 18,835 | $825,350 | | Sabrina Farmer | Cash | — | $135,000 | $270,000 | $540,000 | — | — | | | RSU | March 28, 2024 | | | | 223,168 | $13,015,158 | | | RSU | June 22, 2024 | | | | 18,835 | $825,350 | | Christopher Weber (3) | Cash | — | — | — | — | — | — | | | RSU | June 22, 2024 | — | — | — | 18,835 | $825,350 |

  40. Grants of Plan-Based Awards Table

    (1)The amounts presented represent the aggregate grant-date fair value of the stock awards RSUs awarded to the NEO, in accordance with FASB Accounting Standards Codification Topic 718. The grant-date fair value does not take into account any estimated forfeitures related to service-based vesting conditions. (2)Mr. Sijbrandij resigned from his position as our Chief Executive Officer effective December 5, 2024. The amount reported in the All Other Stock Awards column represents the number of shares underlying a stock option award originally granted to Mr. Sijbrandij on May 17, 2021. The value reported in the Grant Date Fair Value of Stock and Option Awards column represents the incremental fair value attributable to the modification of such award in connection with Mr. Sijbrandij’s resignation, computed as of the modification date in accordance with Financial Accounting Standard Board Accounting Standards Codification Topic 718. The value of this modification is also reported in the table provided in the section titled “Proposal No. 1 Election of Directors–Director Compensation” and the Summary Compensation Table.

  41. Outstanding Equity Awards at Fiscal Year-End Table

    Outstanding Equity Awards at Fiscal Year-End Table The following table presents, for each of the NEOs, information regarding outstanding stock options and RSU or PSU awards to purchase shares of Class B common stock held as of January 31, 2025.

  42. Outstanding Equity Awards at Fiscal Year-End Table

    | | | Option Awards | | | | Stock Awards | | | | | Name | Grant Date (1) | Number of Securities Underlying Unexercised Options Exercisable (#) | Number of Securities Underlying Unexercised Options Unexercisable (#) (2) | Option Exercise Price ($) (3) | Option Expiration Date | Number of Shares, or Units, of Stock That have Not Vested (#) | Market Value of Shares, or Units, of Stock That Have Not Vested ($) (4) | Equity Incentive Plan Awards: Number of Unearned Shares, Units, or Other Rights, That have Not Vested (#) (5) | Equity Incentive Plan Awards: Market Value of Unearned Shares, Units, or Other Rights, That Have Not Vested ($) (4) | | William Staples | December 12, 2024 (6) | — | — | — | — | 382,348 | $27,819,640 | — | — | | | December 12, 2024 (6) | — | — | — | — | — | — | 254,898 | $18,546,378 | | Sytse Sijbrandij | May 17, 2021 (7) | 1,500,000 | — | $17.82 | May 16, 2031 | — | — | — | — | | Brian Robins | March 28, 2024 (8) | — | — | — | — | 72,668 | $5,287,324 | — | — | | | June 22, 2024 (9) | — | — | — | — | 18,835 | $1,370,435 | — | — | | | December 13, 2024 (10) | — | — | — | — | 31,862 | $2,318,279 | — | — | | | March 30, 2023 (8) | — | — | — | — | 61,875 | $4,502,025 | — | — | | | June 17, 2022 (8) | — | — | — | — | 19,530 | $1,421,003 | — | — | | | June 17, 2022 (11) | — | — | — | — | — | — | 78,121 | $5,684,084 | | | March 18, 2021 (12) | 100,000 | — | $17.82 | March 17, 2031 | — | — | — | — | | | September 9, 2020 (13) | 646,505 | — | $9.99 | September 8, 2030 | — | — | — | — | | Robin Schulman | March 28, 2024 (8) | — | — | — | — | 45,677 | $3,323,459 | — | — | | | June 22, 2024 (9) | — | — | — | — | 18,835 | $1,370,435 | — | — | | | June 22, 2024 (8) | — | — | — | — | 16,481 | $1,199,158 | — | — | | | March 30, 2023 (8) | — | — | — | — | 30,937 | $2,250,976 | — | — | | | June 17, 2022 (8) | — | — | — | — | 9,267 | $674,267 | — | — | | | June 17, 2022 (11) | — | — | — | — | — | — | 37,069 | $2,697,140 | | | March 18, 2021 (14) | 47,000 | — | $17.82 | March 17, 2031 | — | — | — | — | | | March 18, 2021 (15) | 47,000 | — | $17.82 | March 17, 2031 | — | — | — | — | | | December 8, 2020 (16) | 170,000 | — | $16.71 | December 7, 2030 | — | — | — | — | | | December 2, 2019 (17) | 18,502 | — | $8.90 | December 1, 2029 | — | — | — | — | | Sabrina Farmer | March 28, 2024 (18) | — | — | — | — | 171,280 | $12,462,333 | — | — | | | June 22, 2024 (9) | — | — | — | — | 18,835 | $1,370,435 | — | — |

  43. Outstanding Equity Awards at Fiscal Year-End Table

    (1)All of the outstanding option awards were granted under our 2015 Plan and all outstanding RSU and PSU awards were granted under our 2021 Plan. (2)All options granted to NEOs are immediately exercisable upon the granting of such options. (3)This column represents the fair value of a share of our Class B common stock on the grant date, as determined by our board of directors. (4)The market values of unvested RSUs and PSUs are calculated by multiplying the number of unvested RSUs held by the named executive officer by the closing price of our Class A capital stock on January 31, 2025, which was $72.76 per share. (5)The number of PSUs included in the table assumes achievement of market-based goals at the target level of each performance tranche. (6)For information regarding Mr. Staples’ equity awards, please refer to “CEO Performance Equity Award” below. (7)For information regarding Mr. Sijbrandij’s equity awards, please refer to “Former CEO Performance Equity Award” below. (8)These RSUs vest as to 1/16th of the total shares quarterly from the date of grant, subject to continued service through the applicable vesting date. (9)These RSUs vest as to 1/4th of the total shares annually from the date of grant, subject to continued service through the applicable vesting date. (10)These RSUs vest as to 1/8th of the total shares quarterly from the date of grant, subject to continued service through the applicable vesting date. (11)These PSUs will vest if we achieve certain revenue-based performance goals (the “Executive Award Performance Goals”) as of the fourth quarter of fiscal year 2025 (the “Executive Award Performance Period”). On or as soon as practicable following certification of achievement, the earned PSUs will be converted into RSUs which will then vest in equal twenty-five percent (25%) increments over four quarters and will be settled in shares of our Class A common stock. The date of the first vesting will be on or about the date on which the satisfaction of the Executive Award Performance Goals has been certified by the CLDC and the board of directors following completion of the Executive Award Performance Period. (12)These stock options vest as to 25% of the total shares on March 18, 2023, and 1/48th of the total shares will vest monthly thereafter, subject to continued service through the applicable vesting date. These options are immediately exercisable, subject to our right to repurchase unvested shares in the event that Mr. Robins’ service with us terminates. (13)These stock options vest as to 25% of the total shares on September 9, 2021, and 1/48th of the total shares will vest monthly thereafter, subject to continued service through the applicable vesting date. These options are immediately exercisable, subject to our right to repurchase unvested shares in the event that Mr. Robins’ service with us terminates. (14)These stock options vest as to 25% of the total shares on March 18, 2022, and 1/48th of the total shares will vest monthly thereafter, subject to continued service through the applicable vesting date. These options are immediately exercisable, subject to our right to repurchase unvested shares in the event that Ms. Schulman’s service with us terminates. (15)These stock options vest as to 25% of the total shares on March 18, 2023, and 1/48th of the total shares will vest monthly thereafter, subject to continued service through the applicable vesting date. These options are immediately exercisable, subject to our right to repurchase unvested shares in the event that Ms. Schulman’s service with us terminates. (16)These stock options vest monthly over 48 months in equal installments starting on December 7, 2020, subject to continued service through the applicable vesting date. These options are immediately exercisable, subject to our right to repurchase unvested shares in the event that Ms. Schulman’s service with us terminates. (17)These stock options vest as to 25% of the total shares on December 2, 2020, and 1/48th of the total shares will vest monthly thereafter, subject to continued service through the applicable vesting date. These options are immediately exercisable, subject to our right to repurchase unvested shares in the event that Ms. Schulman’s service with us terminates. (18)These RSUs vest over four years with 12.5% vesting six months from the grant date and the 87.5% of the remainder vesting quarterly thereafter until fully vested, subject to continued service through the applicable vesting date.

  44. 2025 Stock Option Exercises and Stock Vested Table

    2025 Stock Option Exercises and Stock Vested Table The following table presents, for each of our NEOs, the number of shares of our common stock acquired upon the exercise of stock options or vesting and settlement of RSUs during fiscal year 2025 and the aggregate value realized upon the exercise of stock options and the vesting and settlement of RSUs.

  45. 2025 Stock Option Exercises and Stock Vested Table

    | Name | Option Awards | | Stock Awards | | | | Number of shares acquired on exercise (#) | Value realized on exercise ($) | Number of shares acquired on vesting (#) | Value realized on vesting ($) (1) | | William Staples | — | — | — | — | | Sytse Sijbrandij | — | — | — | — | | Brian Robins | 61,000 | $2,816,495 | 57,289 | $3,018,558 | | Robin Schulman | 58,296 | $3,579,052 | 32,823 | $1,738,160 | | Sabrina Farmer | — | — | 51,888 | $2,898,464 | | Christopher Weber | — | — | 82,309 | $4,152,492 |

  46. 2025 Stock Option Exercises and Stock Vested Table

    (1)The aggregate value realized upon the vesting and settlement of an RSU is based on the closing price on Nasdaq of our Class A common stock on the vesting date. Amounts shown are presented on an aggregate basis for all vesting and settlement that occurred in fiscal year 2025. Any portion of the CEO PSU Award may only be earned to the extent Mr. Staples continues to lead GitLab as our CEO on the later of the date the CLDC certifies achievement of the performance metric and the applicable service vesting date provided in the CEO PSU Award agreement. Once a performance metric is no longer achievable due to the lapse of a performance period or if Mr. Staples ceases to be the CEO, any then-unvested portion of the CEO PSU Award will be immediately forfeited. Former CEO Performance Equity Award In May 2021, our board of directors, with participation by every independent member of the board of directors, granted to Mr. Sijbrandij, our former CEO, an option award (the “Former CEO Option Award”) and PSU award (the “Former CEO PSU Award”). We believe these equity awards aligned Mr. Sijbrandij’s interests with those of our stockholders by creating a strong and visible link between Mr. Sijbrandij’s incentives and GitLab’s long-term performance. Mr. Sijbrandij’s 2021 equity awards consist of the (i) Former CEO Option Award and (ii) Former CEO PSU Award. The Former CEO Option Award has an exercise price of $17.82 per share, which the board of directors determined was equal to the fair market value of our Class B common stock on the date of grant. The Former CEO Option Award will vest as to 1/5th of the shares on the one-year anniversary of the grant date and as to 1/60th of the shares each month thereafter. The Former CEO Option Award expires ten years after the date of grant. In connection with his transition to Executive Chair of our board of directors, the board of directors agreed to modify the Former CEO Option Award to provide for their continued vesting for so long as he continues to provide services to the company as Executive Chair of the board of directors. The Former CEO PSU Award terminated in connection with Mr. Sijbrandij’s resignation as our Chief Executive Officer in December 2024. As of January 31, 2025, no PSUs were outstanding pursuant to the Former CEO PSU Award.

  47. Potential Payments upon Termination or Change of Control

    Potential Payments upon Termination or Change of Control Since September 2021, we have adopted arrangements for our executive officers, including our NEOs, that provide for payments and benefits on termination of employment or upon a termination in connection with a change of control. Under those arrangements, in the event that our NEOs are terminated without “cause” or resign for “good reason” (each as defined in their respective confirmatory offer letter) in connection with or within three months before or 12 months following a “corporate transaction” (as defined in their respective confirmatory offer letter), they will be entitled to: (i) base salary for a period of 12 months (18 months for Mr. Sijbrandij and Mr. Staples) from the NEO’s termination date; plus their pro-rata portion of bonus earned through the date of termination, plus the amount of bonus that would have accrued during the severance period and (ii) benefits continuation payments (or COBRA, if applicable) for 12 months following the termination date (18 months for Mr. Sijbrandij and Mr. Staples). In addition, each of our NEO’s outstanding equity awards will become immediately vested and exercisable, as applicable, with respect to 100% of the underlying shares. All such severance payments and benefits will be subject to each NEO’s execution of a general release of claims against GitLab. Additionally, in the event that our NEOs are terminated without “cause” or resign for “good reason” outside of the period of three months before or 12 months after a “corporate transaction,” they will be entitled to: (i) base salary for a period of six months (12 months for Mr. Sijbrandij and Mr. Staples) plus their pro-rata portion of bonus earned through the date of termination and (ii) benefits continuation payments (or COBRA, if applicable) for six months following the termination date (12 months for Mr. Sijbrandij and Mr. Staples). All such severance payments and benefits will be subject to each NEO’s execution of a general release of claims against GitLab. The following table provides information concerning the estimated payments and benefits that would be provided in the circumstances described above for each of our NEOs. Except where otherwise noted, payments and benefits are estimated assuming that the triggering event took place on January 31, 2025, and the price per share of our common stock was the closing price on Nasdaq as of January 31, 2025 (the last day of business of fiscal year 2025), which was $72.76. There can be no assurance that a triggering event would produce the same or similar results as those estimated below if such event occurs on any other date or at any other price, or if any other assumption used to estimate potential payments and benefits is not correct. Due to the number of factors that affect the nature and amount of any potential payments or benefits, any actual payments and benefits may be different.

  48. Potential Payments upon Termination or Change of Control

    | Name | Qualifying Termination - No Change in Control | | | | | Qualifying Termination - Change in Control | | | | | | | Cash Severance ($) | Cash Bonus ($) (1) | Continuation of Medical Benefits ($) | Value of Accelerated Vesting ($) | Total ($) | Cash Severance ($) | Cash Bonus ($) | Continuation of Medical Benefits ($) | Value of Accelerated Vesting ($) | Total ($) | | William Staples | $600,000 | $92,248 (2) | — | — | $692,248 | $900,000 | $92,248 | — | $46,366,019 | $47,358,267 | | Sytse Sijbrandij (3) | — | — | — | — | — | — | — | — | — | — | | Brian Robins | $225,000 | $189,000 | — | — | $414,000 | $450,000 | $189,000 | — | $66,658,268 | $67,297,268 | | Robin Schulman | $220,000 | $132,000 | — | — | $352,000 | $440,000 | $132,000 | — | $27,389,832 | $27,961,832 | | Sabrina Farmer | $225,000 | $162,000 | — | — | $387,000 | $450,000 | $162,000 | — | $13,832,767 | $14,444,767 | | Christopher Weber (4) | — | — | — | — | — | — | — | — | — | — |

  49. Potential Payments upon Termination or Change of Control

    (1)Cash bonus is equivalent to 60% of annual bonus assuming the first half bonus was paid out at 40% earlier in the year. (2)Pro-rated based on Mr. Staples’ hire date on December 5, 2024. (3)Mr. Sijbrandij resigned from his position as Chief Executive Officer of the Company effective December 5, 2025 and was not eligible for additional severance payments in connection with his resignation. (4)Mr. Weber resigned from the Company effective August 4, 2024 and was not eligible for additional severance payments in connection with his resignation.

  50. CEO Pay Ratio

    CEO Pay Ratio In accordance with the requirements of Section 953(b) of the Dodd-Frank Act and Item 402(u) of Regulation S-K (which we collectively refer to as the “Pay Ratio Rule”), we are providing the following estimated information for fiscal year 2025: •the median of the annual total compensation of all our employees (except our CEO) was $193,315; •the annual total compensation of our CEO was $39,082,244; and •the ratio of these two amounts was 207.38 to 1. We believe that this ratio is a reasonable estimate calculated in a manner consistent with the requirements of the Pay Ratio Rule. To identify our median employee, we considered the individuals, excluding our CEO, who were employed by us and our consolidated subsidiaries on January 31, 2025, our determination date, whether employed on a full-time, part-time, seasonal or temporary basis. We did not include any contractors or other non-employee workers in our employee population. To identify our median employee, we used a consistently applied compensation measure consisting of each employee’s base salary, target bonus or sales commissions, and the target value of equity awards granted during fiscal year 2025. Base salary and target total cash compensation reflects the annual salary rate and target bonus, as applicable, effective as of January 31, 2025. We selected these compensation elements because they represent our principal broad-based compensation elements. For employees paid other than in U.S. dollars, we converted their compensation to U.S. dollars using the applicable exchange rates in effect on November 1, 2024. Once our median employee was identified, we calculated the median employee’s annual total compensation in accordance with the requirements of the Summary Compensation Table. To calculate the annual total compensation of our CEO, we annualized the salary rate and target bonus of Mr. Staples, our CEO serving in that position on January 31, 2025, the date we selected to identify the median employee, and added the value of equity awards granted to Mr. Staples during fiscal year 2025.

  51. Pay-Versus-Performance Table

    | Pay Versus Performance | | | | | | | | | | | | | | | | | | | Value of Initial Fixed $100 Investment | | | | | | | | | | Average | Average | Based On: | | | | | | Summary | Compensation | Summary | Compensation | Summary | Compensation | | Peer Group | | Company- | | | Compensation | Actually | Compensation | Actually | Compensation | Actually | Total | Total | | Selected | | | Table Total | Paid | Table Total | Paid | Table Total | Paid | Shareholder | Shareholder | Net | Measure: | | Year(1) | for PEO (Sijbrandij) (2) | for PEO (Sijbrandij) (3) | for PEO (Staples) (2) | for PEO (Staples) (3) | for Non-PEO NEOs (2) | for Non-PEO NEOs (3) | Return (4) | Return (4) (5) | Income (6) | Revenue (7) | | (a) | (b) | (c) | (d) | (e) | (f) | (g) | (h) | (i) | (j) | (k) | | 2025 | $16,953,390 | -$128,560,012 | $39,082,244 | $46,550,767 | $7,469,632 | -$28,964 | $70 | $169 | -$5,227,000 | $759,249,000 | | 2024 | $3,600 | $97,396,301 | $0 | $0 | $8,588,639 | $10,470,781 | $68 | $133 | -$424,174,000 | $579,906,000 | | 2023 | $3,600 | -$57,377,922 | $0 | $0 | $5,209,815 | -$3,681,571 | $48 | $88 | -$172,311,000 | $424,336,000 | | 2022 | $27,289,978 | $146,867,481 | $0 | $0 | $3,956,318 | $26,962,513 | $62 | $105 | -$155,138,000 | $252,653,000 |