Bernie Wolford, Jr. has been the President and CEO of Diamond Offshore Drilling since May 2021. His career started way back in 1981 and has always revolved around the energy sector, particularly in offshore drilling. Before joining Diamond Offshore, he...

Bernie Wolford, Jr. has been the President and CEO of Diamond Offshore Drilling since May 2021. His career started way back in 1981 and has always revolved around the energy sector, particularly in offshore drilling. Before joining Diamond Offshore, he served as the CEO of Pacific Drilling and held high-ranking positions at Noble Corporation, where he was in charge of operations for almost a decade. Wolford stepped into his current role when the company emerged from Chapter 11 bankruptcy, marking a crucial turnaround phase. In his short time at Diamond Offshore, he has seen significant annual compensation, with his most recent total reaching around $5.2 million—most of which comes from vested stock awards tied to performance metrics.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

D

Bernie Wolford, Jr.

CEO of Diamond Offshore Drilling

Field of Expertise

Technology & Engineering - Engineering

Sector of Economy

Energy

CEO of Diamond Offshore Drilling for

3 years 11 months (Apr 2021 - Present)

Previous Experience

Unknown

Rivals

Competitors/colleagues of Bernie Wolford, Jr.

Holdings

See how much did Bernie Wolford, Jr. make over time.

Bernie Wolford's stock holdings at Diamond Offshore highlight a strong investment in the company’s future. As of December 2023, he held about 196,718 restricted stock units (RSUs) worth approximately $2.6 million. His performance-based awards, if fully realized, could amount to...

Bernie Wolford's stock holdings at Diamond Offshore highlight a strong investment in the company’s future. As of December 2023, he held about 196,718 restricted stock units (RSUs) worth approximately $2.6 million. His performance-based awards, if fully realized, could amount to around $5.9 million linked to company growth. Over time, as each RSU vests based on performance criteria, Wolford's stake in the company will either rise or fall depending on how well Diamond Offshore performs. This kind of compensation structure aims to closely align his interests with those of the shareholders. During 2023, he also realized about $1.7 million by vesting shares that had been granted in past years.

Insider Trading

See recent insider trades of Bernie Wolford, Jr..

No insider trades found for this CEO.

Compensation History

See how much did Bernie Wolford, Jr. make over time.

For 2022, Bernie Wolford's compensation was structured around a base salary of $705,833, alongside performance-based stock awards which significantly boosted his total earnings. His total yearly compensation reached $3,698,422, but he missed out on bonuses due to not meeting certain performance targets. In 2023, his pay saw an increase, amounting to $5.2 million, thanks to growth in stock value and other factors, reflecting his responsibility to drive company performance in both short-term and long-term contexts. His pay structure is designed to keep him focused on performance metrics that matter for the company, giving him strong incentives to succeed.

Year

2022

Total Compensation

$3.07M

Salary

$705.83K

Board Justification

The compensation philosophy aims to attract and retain qualified executives, motivate strong performance, and align compensation with company performance.

Bonus

$0.00

Board Justification

No bonus was awarded for 2022 as performance metrics were not met.

Other

$16.12K

Board Justification

Other compensation includes retirement plan matching and insurance benefits.

Restricted Stock

$2.35M(493.85K restricted stock)

Board Justification

493,847 shares of performance-vesting restricted stock vested on August 12, 2022, based on the achievement of performance goals.

Performance Metrics

Performance metrics for 2022 included specific financial and operational goals, which were not fully achieved.