The Ledger ResearchPrivate

The Front Office

Scouting report · FROG

Shlomi Ben Haim

  • Co-Founder, Chief Executive Officer & Chairman, FROG since 2008-04src

Co-founded JFrog in 2008 and has run it since; chairman since 2020

—thin record

Not ranked yet

Scouting sheet

as of 24 Sep 2026
Delivers guidance—no promises on the record yet
Answers the question—no call reviewed yet
Capital allocation—company not reviewed yet
Pay design53revenue, margin, relative tsr, time only · 82% for · company lost money
Skin in the game—no holding or price on file
Age
56src
In the role
18 yr
Promises scored
0
Hit rate
—
Dodges / 100 answers
—
Airtime on calls
—
Every promise, oldest firstno scored promises yet

What to weigh

Watch 5

  • Shareholder pushback on pay: his 2025 pay package passed with about 59.5% of votes cast (49.2m for, 33.5m against), and the compensation policy got the same ~59.5%. The 2026 package passed with 84.1% and say-on-pay with 82.0%src
  • The board's answer to the 2025 vote was to drop PSUs entirely: from 2026 his equity is a $10m-target grant of RSUs vesting quarterly over five years, with no performance condition. The target is about 17% lower than 2025 and he asked for the cut, per the proxysrc
  • 2025 summary-comp total $16.8m (up from $10.3m) against a GAAP net loss of $71.8m. Much of the jump was accounting: the stock rose from $34.35 to $43.55 between board approval and the shareholder-approved grant date. CEO pay ratio 85:1src
  • Steady seller: about $40.1m (563,878 shares) sold under 10b5-1 plans in the twelve months to 2026-09-24, about 13% of the 4.25m shares the proxy credited him with. The largest sales came after the price moved from about $52 (early May 2026) to $75-95 (late May to August)src
  • Holds both CEO and chairman roles, which Israeli law makes subject to a shareholder vote: approved for three years in May 2025 with about 73.4% of votes cast. Yossi Sela is lead independent directorsrc

In their favour 1

  • Still owns 3.5% of the company (4,252,153 shares at 2026-03-13), and a 5x-salary ownership guideline was adopted in February 2026src

Career

  1. 2008-04 – now
    JFrog Ltd.src
    Co-founder, Chief Executive Officer and director; Chairman since January 2020
    Moved from Israel to the US for the company; took JFrog public on Nasdaq in September 2020 (IPO-424B4)
  2. 2006-06 – 2009-06
    AlphaCSP Ltd.src
    Chief Executive Officer
    Software-implementation company, open source per the 2026 proxy, acquired by Malam Group; overlapped JFrog's first year
  3. 2000-10 – 2006-06
    AlphaCSP Ltd.src
    Executive director
  4. 1988-10 – 2000-10
    Israeli Air Forcesrc
    Officer; led several military units, reached the rank of Major

Achievements

  • Co-founded JFrog in 2008 and has been CEO for its whole life, through the September 2020 Nasdaq IPOsrc
  • FY2025 under his leadership: revenue about $532m (+24%), cloud revenue $243.3m (+45%), free cash flow $142.3m (~27% of revenue), non-GAAP operating margin 17.3%src
  • Ran AlphaCSP as CEO from 2006 until its sale to Malam Group in 2009src
  • Twelve years in the Israeli Air Force (1988-2000), leaving as a Majorsrc

Education

  • Ben-Gurion University of the Negev, BA Business Administration and Managementsrc
  • Clark University, MScsrc

Background

  • Founder One of three co-founders, all still on the board: Yoav Landman is CTO and a director, Frederic Simon a director; together with him they held 3.5%, 4.7% and 2.9% of the shares at 2026-03-13src
  • Family Frederic Simon, JFrog co-founder and director, is married to his sister. The proxy states no other family relationships among directors and officers. Simon, formerly Chief Data Scientist, has consulted for JFrog since June 2024 at $1,600 a day for up to two days a week ($81,456 in 2025), a related-person transaction shareholders approved in May 2024src
  • Service Israeli Air Force officer October 1988 to October 2000, rank of Majorsrc
  • Other Relocated from Israel to the US; his offer letter reimburses up to $50,000 a year of relocation expenses, grossed up for tax ($73,592 in 2025), and pays $35,000 if his job moves back to Israelsrc
  • Boards The 2026 proxy lists no outside public-company board for him; he is not paid for the director or chair rolessrc

The promise ledger

No promise on the record yet: the research routine has not scored this company's guidance.

Sources

10
  1. Filing JFrog Ltd. DEF 14A (2026 annual general meeting) · 2026-04-07
  2. Filing JFrog Ltd. DEF 14A (2021 annual general meeting) · 2021-04-05
  3. Filing JFrog Ltd. 424B4 IPO prospectus · 2020-09-16
  4. Filing JFrog Ltd. 10-K for FY2025 (signatures) · 2026-02-13
  5. Filing JFrog Ltd. 8-K Item 5.07, 2025 annual general meeting results · 2025-05-22
  6. Filing JFrog Ltd. 8-K Item 5.07, 2026 annual general meeting results · 2026-05-22
  7. Filing SEC XBRL company concept us-gaap:NetIncomeLoss, JFrog (FY2025 from 10-K accession 0001193125-26-051382) · 2026-09-24
  8. Filing Form 4, Shlomi Ben Haim (reporting CIK 1823009), sales of 2026-09-08; the latest of 22 Form 4s he filed 2025-10-09 to 2026-09-10, all read · 2026-09-10
  9. Filing EDGAR Form 4 filing list for Shlomi Ben Haim (CIK 1823009) · 2026-09-24
  10. Web search result WebSearch: Shlomi Ben Haim JFrog co-founder CEO background (search summary; education years came from an aggregated profile, not this page) · 2026-09-24