Charles L. Harrington

Ex-CEO of Parsons Corporation

Education

Bachelor's degree in Civil Engineering from the University of California, Berkeley

Field of Expertise

Technology & Engineering - Engineering

Born

January 1, 1956 - 69 years ago

Economy Sector

Industrials

Tenure

6 years 2 months (May 2015 - Jul 2021)

Previous Experience

CEO of Parsons Corporation

Charles L. Harrington served as the CEO and Chairman of Parsons Corporation from May 2008 until his retirement in July 2021. He holds a Bachelor's degree in Civil Engineering from UC Berkeley, which laid the foundation for his career in engineering. Under his leadership, Parsons achieved significant milestones, including record revenues of $4 billion in 2019 and successful acquisitions that bolstered their federal and infrastructure segments. Harrington's tenure saw the company focus on advanced technology solutions and major government contracts, showcasing the company's growth and adaptability. Notably, in 2021, his total compensation was approximately $7.12 million, highlighting the importance of aligning leadership incentives with company performance. Post-retirement, he transitioned to the role of Executive Chairman, guiding Parsons towards a new direction.

Year

2021

Total Compensation

$3.16M

Salary

$976.54K

Board Justification

The compensation philosophy is designed to attract, motivate, and retain executive officers of outstanding ability and potential, whose knowledge, skills, and performance are critical to the company's success, while ensuring that executive compensation is meaningfully related to the creation of stockholder value.

Bonus

$537.80K

Board Justification

Annual incentive awards for our CEO and other NEOs are based on corporate financial goals and a strategic qualitative goal aligned with our core values of safety, quality, integrity, diversity, innovation, and sustainability. The achieved payout for our CEO relative to the corporate financial goals and strategic goal for 2021 was 53.78% of target.

Other

$125.61K

Board Justification

Includes employer contributions under defined contribution plans, life insurance, excess liability coverage, and other benefits.

Restricted Stock

$1.52M(44.06K RSU)

Board Justification

RSUs granted in 2019 that vested on December 31, 2021, and were settled in shares of our common stock.

Performance Metrics

The performance metrics for the CEO's compensation included adjusted EBITDA, revenue, cash flow, technology and transactional revenue, and a strategic qualitative goal aligned with core values.

Carey A. Smith

CEO of Parsons Corporation

July 2021 - Present