Open report — full analysis, no account required.
Sign up to generate reports and read filings that aren't on the open list.
Get notified when RPD files again. Create a free account and we'll email you the moment its next filing is analyzed.
Get filing alertsRapid7 appoints board member Wael Mohamed as CEO; Corey Thomas becomes Executive Chairman
Filed June 1, 2026 · Period ending May 26, 2026 · ~1 min read
Key Changes
-
high
Wael Mohamed, a Rapid7 board member since April 2025, becomes CEO effective June 1, 2026. Mohamed brings 30 years of cybersecurity experience, including prior roles as CEO of Forescout and President/COO of Trend Micro.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
high
Corey Thomas, CEO since October 2012 who led Rapid7 through its IPO, transitions to Executive Chairman to focus on technology vision, AI strategy, and policy initiatives. Marc Brown appointed Lead Independent Director.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
high
Rapid7 reaffirms Q2 2026 and full-year 2026 financial guidance previously issued May 5, 2026, signaling confidence the leadership transition will not disrupt near-term execution.
Item 7.01 — Regulation FD Disclosure verify on EDGAR → -
medium
Mohamed receives $625,000 base salary, 100% target bonus, $6 million time-based RSU vesting over three years, and performance RSU covering 2,125,000 shares with vesting tied to stock price milestones from $15 (50% vesting) to $30+ (150% maximum).
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
medium
The transition follows a year of planning between Thomas and Mohamed and a broader senior leadership refresh including new CFO, Chief Commercial Officer, and Chief Product & Technology Officer to support Rapid7's pivot to AI-powered security operations.
Exhibit 99.1 view on EDGAR →
Summary
Rapid7 executed a planned CEO succession, elevating board member Wael Mohamed to CEO while founder Corey Thomas transitions to Executive Chairman after 13+ years leading the company. The move follows a year of strategic planning and broader executive team refresh designed to position Rapid7 as an AI-powered security operations leader following its recent Kenzo acquisition.
Mohamed's compensation package includes substantial performance equity tied to stock price appreciation, aligning his incentives with shareholder value creation. The company's reaffirmation of Q2 and full-year 2026 guidance signals management confidence in business continuity despite the leadership change.
Thomas remains actively involved in technology vision and AI strategy as Executive Chairman, providing continuity while Mohamed drives operational execution. The transition appears orderly and strategic rather than reactive. Retail holders should monitor execution under the new CEO, particularly progress on the AI-SOC strategy and whether the refreshed leadership team delivers on the company's positioning in the rapidly evolving AI security market. The performance equity structure creates clear milestones: stock sustained above $15 begins vesting the performance RSUs, with maximum payout requiring $30+.
Section-by-Section Diff
Event · Exhibit 99.1
Rapid7 appoints board member Wael Mohamed as CEO; Corey Thomas transitions to Executive Chairman, effective immediately; reaffirms Q2 and FY2026 guidance.
Added in current filing · view on EDGAR →
Rapid7, Inc. (NASDAQ: RPD), a global leader in AI-powered managed cybersecurity operations, today announced a leadership transition in which board member Wael Mohamed will assume the role of Chief Executive Officer, and current Chief Executive Officer Corey Thomas will become Executive Chairman of the Board, effective immediately.
Wael Mohamed, a current board member with 30 years of cybersecurity experience, becomes CEO effective immediately. Mohamed previously served as CEO of Forescout and President/COO of Trend Micro Group. Corey Thomas, who led Rapid7 as CEO for over 13 years through its IPO, transitions to Executive Chairman and will focus on technology vision, AI strategy, and policy initiatives.
Added in current filing · view on EDGAR →
This leadership transition comes at a defining moment. Amid universal disruption from frontier AI innovation, customers and analysts have validated the company’s preemptive security strategy — effectively integrating managed detection and response (MDR) and exposure management into AI-led security operations to preempt attackers at machine speed. Rapid7 has been strategically moving the right pieces in place for the next phase of its growth, including the recent acquisition of Kenzo, a leading AI security platform, and is well prepared to step into the next chapter.
The company frames the CEO transition as occurring at a pivotal moment for its AI-powered security operations strategy. Rapid7 recently acquired Kenzo, an AI security platform, and is positioning itself to lead in the AI-SOC (AI Security Operations Center) market. The transition is presented as part of a broader operational transformation to move from a platform player to an AI-SOC market leader.
Added in current filing · view on EDGAR →
As Mohamed assumes responsibility for growth-oriented operations and execution as CEO, Thomas will continue serving on Rapid7’s Board of Directors as Executive Chairman, partnering closely on technology vision, AI strategy, and policy initiatives.
Corey Thomas remains actively involved as Executive Chairman, focusing on long-term technology vision, AI strategy, and global cyber policy rather than day-to-day operations. This structure allows Rapid7 to retain Thomas's strategic expertise and industry relationships while Mohamed drives operational execution.
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On May 26, 2026, the Board of Directors (the “Board”) of Rapid7, Inc. (the “Company”) appointed Wael Mohamed as Chief Executive Officer of the Company, effective as of June 1, 2026. Mr. Mohamed succeeds Corey Thomas, who has been appointed Executive Chairman, effective as of June 1, 2026.
Wael Mohamed, age 58, was appointed CEO effective June 1, 2026. He has served on Rapid7's board since April 2025 and brings extensive cybersecurity experience, including prior roles as CEO of Forescout Technologies and President/COO of Trend Micro. Corey Thomas, who served as CEO from October 2012 to May 2026, transitions to Executive Chairman to support the leadership transition and long-term strategic initiatives.
Added in current filing · verify on EDGAR →
Mr. Mohamed will receive an annual base salary of $625,000 and will be eligible to receive an annual performance bonus (which will be pro-rated for fiscal year 2026), provided that he remains employed by the Company through the date the annual bonus is scheduled to be paid. The target amount of such performance bonus is equal to 100% of Mr. Mohamed’s annual base salary
The new CEO will receive a base salary of $625,000 with a target annual bonus of 100% of base salary (also $625,000), for total target cash compensation of $1.25 million annually. The fiscal 2026 bonus will be prorated based on his June 1 start date.
Added in current filing · verify on EDGAR →
in the case of a termination for a reason other than Cause (but not as a result of death or disability) or resignation for Good Reason (each, a “Qualifying Termination”), Mr. Mohamed will be entitled to (subject to his execution of a release of claims): (i) continued payment of base salary for 12 months following termination of employment, (ii) a prorated payment of his target annual performance bonus, and (iii) payment of premiums for continued health benefits under COBRA for up to 12 months.
If the Qualifying Termination occurs within three months prior to or 12 months following a change in control of the Company, then Mr. Mohamed will be entitled to (subject to his execution of a release of claims): (i) a lump sum payment equal to 150% of the sum of his annual base salary plus his annual target performance bonus, (ii) payment of premiums for continued health benefits under COBRA for up to 18 months, and (iii) accelerated vesting of all of Mr. Mohamed’s equity awards then outstanding on such date of termination of employment.
The CEO has standard severance protections: 12 months base salary, prorated target bonus, and 12 months COBRA for qualifying terminations. Enhanced change-in-control protections provide 150% of base plus target bonus, 18 months COBRA, and full equity vesting if terminated within three months before or 12 months after a change in control.
Added in current filing · verify on EDGAR →
In connection with the Chief Executive Officer transition, the Board also appointed Mr. Thomas as Executive Chairman, effective as of June 1, 2026. Mr. Thomas previously served as the Company’s Chief Executive Officer from October 2012 to May 2026 and as Chairman of the Board from February 2019 to June 2025. As Executive Chairman, Mr. Thomas will continue to preside at meetings of the Board and stockholders and will support the Company’s leadership transition and long-term strategic initiatives. Because Mr. Thomas is not an independent director, the Board appointed Marc Brown, who previously served as Chairman of the Board, as Lead Independent Director, effective June 1, 2026.
Corey Thomas becomes Executive Chairman, presiding at board and stockholder meetings while supporting the leadership transition. Because Thomas is not independent, Marc Brown was appointed Lead Independent Director to maintain governance balance. Both Thomas and Mohamed continue serving as directors.
Event · Item 7.01 — Regulation FD Disclosure
Item 7.01 — Regulation FD Disclosure filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On June 1, 2026, the Company issued a press release announcing the appointment of Mr. Mohamed as Chief Executive Officer
Rapid7 appointed Mr. Mohamed as Chief Executive Officer. The 8-K does not disclose whether this is a new hire, internal promotion, or succession, nor does it name the prior CEO or describe the circumstances of the change.
Added in current filing · verify on EDGAR →
the appointment of Mr. Thomas as Executive Chairman
Mr. Thomas was appointed Executive Chairman. The filing does not state whether Mr. Thomas is the prior CEO transitioning to this role, a board member taking on executive duties, or a new appointee.
Added in current filing · verify on EDGAR →
the Company also reaffirmed its guidance, previously provided on May 5, 2026, for the second quarter 2026 and full-year 2026
Rapid7 reaffirmed its Q2 2026 and full-year 2026 guidance originally issued May 5, 2026. The 8-K does not disclose the specific guidance figures, but the reaffirmation signals continuity in financial expectations despite the leadership changes.
Thanks — your feedback helps us improve report quality.
Figures/quotes linked to EDGAR · Narrative written by AI · Jul 14, 2026 · How we verify