Blake T. DeBerry served as the CEO of Dril-Quip, Inc., a company specializing in oil and gas equipment, from 2015 until the end of 2021. He has been with the company since 1988, holding various roles in engineering and management...

Blake T. DeBerry served as the CEO of Dril-Quip, Inc., a company specializing in oil and gas equipment, from 2015 until the end of 2021. He has been with the company since 1988, holding various roles in engineering and management across different locations including the U.S., Scotland, and Singapore. DeBerry has a Bachelor’s degree in mechanical engineering from Texas Tech University, which supports his strong background in engineering. His leadership saw ups and downs; in 2021, he earned almost $6.1 million, which included a significant severance payment as he transitioned out of the role. Under his watch, the company adapted its compensation philosophy to focus on aligning executive actions with company performance, ensuring that executives have a stake in the company's success. Notably, DeBerry had a considerable equity stake, which he built over the years, reinforcing the standard of leadership being personally invested in the company's outcomes. His tenure was marked by a clear path of growth in his compensation despite challenges presented by the pandemic.

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1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Dril-Quip CEOs

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Blake T. DeBerry

Ex-CEO of Dril-Quip

Education

Bachelor of Science degree in mechanical engineering from Texas Tech University

Field of Expertise

Technology & Engineering - Engineering

Sector of Economy

Energy

Born

January 1, 1970 - 55 years ago

CEO of Dril-Quip for

6 years 7 months (May 2015 - Dec 2021)

Previous Experience

General Manager of the Company’s Asia-Pacific region; various management and engineering positions in the Company’s domestic and international offices.

Rivals

Competitors/colleagues of Blake T. DeBerry

Holdings

See how much did Blake T. DeBerry make over time.

During his time as CEO of Dril-Quip, DeBerry had varying levels of stock in the company. As of late 2021, much of his wealth was tied up in Dril-Quip’s equity. His most substantial holdings were in restricted stock, which vested...

During his time as CEO of Dril-Quip, DeBerry had varying levels of stock in the company. As of late 2021, much of his wealth was tied up in Dril-Quip’s equity. His most substantial holdings were in restricted stock, which vested over time and reflected his long-term commitment to the company. In his last years, DeBerry had to manage his assets carefully as the market fluctuated. In 2020, despite the pandemic affecting the oil and gas industry, he still managed to maintain a significant portion of his wealth in the company. By the end of his tenure, he had seen his stock holdings transition into a cash severance package upon stepping down, indicating a shift from being heavily invested in the company to realizing those investments during his departure.

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Insider Trading

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No insider trades found for this CEO.

Compensation History

See how much did Blake T. DeBerry make over time.

Blake T. DeBerry's compensation reflected both his performance and the challenges faced by Dril-Quip during his tenure. In 2021, his total compensation was approximately $6.1 million, significantly boosted by a one-time severance payment as he transitioned out of his role. Before that, in 2020, he earned around $3.9 million, having no bonus that year due to the pandemic's impact on the industry. His pay was structured to align with the company's performance metrics, which included free cash flow and bookings. Over the years, the board modified his pay structure to adapt to external conditions, ensuring it both rewarded performance and aimed to retain top talent amidst industry volatility. This careful balancing act highlights the evolving nature of executive compensation in response to company performance and market circumstances.

Year

2021

Total Compensation

$3.65M

Salary

$680.00K

Board Justification

The compensation program is designed to attract and retain talented executives while aligning their interests with those of shareholders through performance-based incentives.

Bonus

$618.80K

Board Justification

Annual cash incentive compensation based on performance metrics for 2021, paid in early March 2022.

Other

$1.38M

Board Justification

Includes a lump sum cash severance payment of $1,360,000 and continued medical, dental, and life insurance coverage estimated at $47,971.

Restricted Stock

$976.07K(0 Restricted Stock)

Board Justification

No stock awards were granted in 2021 due to anticipated departure; however, all unvested restricted shares vested upon separation on December 31, 2021.

Performance Metrics

Performance metrics for 2021 included Free Cash Flow (70% weighting) and Bookings (30% weighting).

Other Dril-Quip CEOs

Here are other CEOs of Dril-Quip

Jeffrey J. Bird

CEO of Dril-Quip

January 2022 - Present