Change iACV incentive to quarterly

Problem: There is a company incentive/reward on a monthly basis for iACV in which the company is awarded budget for a dinner if the company exceeds a target. This is misaligned as the sales team does not actually have a monthly target. It is important that close linearly and book deals every week. There is not, however a target that drives deals into each particular month. Thus, the dinner is misaligned. In addition, the company we has performed very well against its targets all year long, but the monthly variability can lead to an incorrect conclusion by non sales team members that performance has been anything less than excellent vs. sales targets.

Resolution: Better align the sales dinner reward with sale team targets. Sales targets are usually a full year target. In addition, we drive to hit quarterly management targets but there are no specific quotas tied to quarters. Since quarters are a more aligned cadence, we will move the monthly iACV dinner reward to become a quarterly dinner reward.

In addition, when we move to being a public company, quarterly results will be how the public markets judge our performance.

The original goals of the iACV incentive were:

• Create linearity in the sales process
• Incentivize the entire team to our most critical metric of iACV achievement

As sales leaders drive the team to close weekly toward quarterly targets, the linearity in the sales process is not impacted at our current scale by this incentive (per @mmcb and our results).

However, the team-members at large can be penalized by "missing" a month by a very small amount - in September of 2019, for instance, we "missed" the monthly linear number by hitting 99% instead of 100% despite delivering a record month for the company and the sales team not having a monthly target to hit that month in the first place. The quarter was again a success.