Sundar PichaiSundar Pichai earned $164M in 2023

Cary M. Bounds is the former CEO of Vaalco Energy, Inc., having stepped into the role in December 2016 after serving as COO for a year and a half. His career in the energy sector spans over 25 years, indicating...

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Cary M. Bounds

Ex-CEO of Vaalco Energy

Education

Bachelor's degree in Business Administration

Field of Expertise

Business & Management

Sector of Economy

Energy

Born

March 10, 1966 - 59 years ago

CEO of Vaalco Energy for

4 years 7 months (Sep 2016 - Apr 2021)

Previous Experience

Chief Operating Officer of VAALCO Energy, Inc. prior to becoming CEO.

Holdings

See how much did Cary M. Bounds make over time.

During his time at Vaalco Energy, Cary Bounds had significant stock holdings, but after his resignation in April 2021, he lost all equity awards. Prior to that, in 2020, he was granted over 338,000 stock options as part of his...

Insider Trading

See recent insider trades of Cary M. Bounds.

EGY

133,758 shares

EGY

Mar 3, 2021

Received

EGY

210,000 shares

EGY

Jun 25, 2020

Received

EGY

$10.08K

EGY at $1.68/share

May 22, 2019

Purchase

EGY

$9.89K

EGY at $1.76/share

May 15, 2019

Purchase

EGY

$9.78K

EGY at $1.63/share

May 14, 2019

Purchase

EGY

$200.00K

EGY at $2.33/share

Feb 28, 2019

Received

EGY

$200.00K

EGY at $2.33/share

Feb 28, 2019

Received

EGY

153,488 shares

EGY

Feb 28, 2018

Received

EGY

185,185 shares

EGY

Dec 29, 2016

Received

EGY

100,000 shares

EGY

Jul 6, 2015

Received

Compensation History

See how much did Cary M. Bounds make over time.

Cary M. Bounds' compensation at Vaalco Energy saw significant fluctuations during his tenure. In 2021, he earned a total of $1,743,424, which was heavily influenced by a large cash severance payment of $1,164,500 due to his early departure in April. His base salary that year was $434,700, but after a no-bonus decision during his leave, his total package was mostly the severance and various small compensations like health benefits and vacation payout. In 2020, he received a total of $1,405,340, part of which included a substantial bonus of $454,440 based on his performance. This fluctuating structure is typical in executive roles where performance and stock valuations heavily influence earnings, showcasing the high stakes and volatility of these positions.

Year

2021

Total Compensation

$1.75M

Salary

$434.70K

Board Justification

The compensation philosophy is designed to attract, retain, and motivate high caliber executives, aligning their interests with those of stockholders through performance-based incentives.

Bonus

$0.00

Board Justification

No annual cash incentive bonus was paid to Mr. Bounds for 2021 due to his resignation in April 2021.

Other

$1.32M

Board Justification

Includes a cash severance payment of $1,164,500, $95,500 for attorneys’ fees, $25,785 for health plan coverage, and $12,539 in vacation payout.

Restricted Stock

$0.00(0 Restricted Stock and Stock Options)

Board Justification

Mr. Bounds forfeited all equity awards in connection with his termination of service on April 30, 2021.

Performance Metrics

The performance metrics for determining compensation include financial and operational objectives, with a focus on safety performance and overall company performance.