Clarence H. Smith has been the CEO of Haverty Furniture Companies, Inc. since 2003, playing a key role in steering the company through various market challenges. With a strong educational background, he holds a Bachelor's degree in business administration. Over...

Clarence H. Smith has been the CEO of Haverty Furniture Companies, Inc. since 2003, playing a key role in steering the company through various market challenges. With a strong educational background, he holds a Bachelor's degree in business administration. Over his lengthy career, Clarence has accumulated deep experience in retail and operations, having worked with Havertys since the late 1980s. In 2023, he earned a total compensation of $2,887,694, significantly aligning his pay with the company's performance metrics. Notably, his compensation included a combination of salary, bonuses, and various benefits, without major stock grants or stock options that year, reflecting a shift toward cash-based compensation as a motivator. Clarence has demonstrated a strong connection to his work, evidenced by his stock holdings in the company, and maintained a consistent presence in the financial landscape, with his stake fluctuating over the years. From 2019 to 2024, his stock holdings varied, reportedly worth as much as $49.17 million at a peak in early 2021. As he looks forward, he continues to influence Haverty's strategy and growth, aiming to enhance shareholder value through effective leadership.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Haverty Furniture Companies, Inc. CEOs

H

Clarence H. Smith

Ex-CEO of Haverty Furniture Companies, Inc.

Education

Bachelor's degree in Business Administration

Field of Expertise

Business & Management

Born

June 15, 1954 - 70 years ago

CEO of Haverty Furniture Companies, Inc. for

16 years 11 months (Jan 2008 - Dec 2024)

Previous Experience

Various leadership roles within Havertys

Rivals

Competitors/colleagues of Clarence H. Smith

Holdings

See how much did Clarence H. Smith make over time.

Clarence H. Smith's stock holdings in Haverty Furniture have seen significant fluctuations over the years. At one point in early 2021, his investment peaked at around $49.17 million, showing a solid commitment to the company's future. However, following a downward...

Clarence H. Smith's stock holdings in Haverty Furniture have seen significant fluctuations over the years. At one point in early 2021, his investment peaked at around $49.17 million, showing a solid commitment to the company's future. However, following a downward trend, by 2023, his holdings were valued around $25 million. This pattern reveals his active participation in the company's journey, as his financial interest aligns closely with its performance. Throughout 2020, there were notable highs and lows in the value of his holdings, with some months showing values over $40 million. Such fluctuations illustrate the dynamic nature of his investment in Havertys and reflect the potential impacts of market conditions on executive holdings.

Total Stock Sold

$3.29M

HVT

$3.29M

131,277 HVT shares

What if they kept their stock?

If Clarence H. Smith didn't sell their stock, today they would have:
Extra HVT131,277 shares worth $1.67M.
This is -49.42% and $1.63M less than what they got when they sold the stock.

Charitable Transactions

HVT

40,706 shares

HVT

Recent Charitable Transactions

HVT

1,351 shares

HVT

Dec 31, 2022

Charity

HVT

2,069 shares

HVT

Dec 31, 2021

Charity

HVT

1,129 shares

HVT

Nov 24, 2020

Charity

HVT

1,377 shares

HVT

Feb 28, 2019

Charity

HVT

2,000 shares

HVT

Dec 11, 2017

Charity

HVT

3,351 shares

HVT

Mar 10, 2017

Charity

Insider Trading

See recent insider trades of Clarence H. Smith.

HVT

$475.90K

HVT at $34.29/share

Mar 7, 2023

Sale

HVT

1,351 shares

HVT

Dec 31, 2022

Charity

HVT

$329.24K

HVT at $29.24/share

Aug 10, 2022

Sale

HVT

2,069 shares

HVT

Dec 31, 2021

Charity

HVT

1,129 shares

HVT

Nov 24, 2020

Charity

HVT

$285.93K

HVT at $28.04/share

Nov 23, 2020

Sale

HVT

$23.32K

HVT at $11.66/share

Mar 20, 2020

Purchase

HVT

1,377 shares

HVT

Feb 28, 2019

Charity

HVT

$239.51K

HVT at $24.01/share

Feb 28, 2019

Sale

HVT

2,000 shares

HVT

Dec 11, 2017

Charity

Compensation History

See how much did Clarence H. Smith make over time.

In 2023, Clarence H. Smith earned a total compensation of $2,887,694, composed primarily of a salary of $760,000 and a cash bonus of $670,746. His bonus was awarded based on company performance metrics, showing a direct link between executive pay and the company's success. Notably, there were no stock options or stock grants that vested in the same year, reflecting a major shift toward cash incentives. This approach underscores a modern compensation structure aimed at motivating executives to drive performance and align their interests with those of the shareholders. Over the past few years, his total compensation has fluctuated, mirroring the company’s year-to-year financial performance and overall market conditions. The compensation philosophy at Haverty's seeks to retain top talent by ensuring pay is commensurate with both individual and corporate success.

Year

2023

Total Compensation

$1.50M

Salary

$760.00K

Board Justification

The compensation philosophy aims to attract and retain talented executives by aligning their compensation with company performance, peer benchmarking, and retention strategies.

Bonus

$670.75K

Board Justification

The total annual cash incentive award earned under the MIP-I and MIP-II plans, with MIP-I based on company performance and MIP-II based on individual performance, resulting in a total payout of 88.3% of target for 2023.

Other

$66.71K

Board Justification

Includes 401(k) plan match, contributions to the deferred compensation plan, and other compensation such as insurance premiums and health examinations.

Restricted Stock

$0.00(0 RSU)

Board Justification

No stock grants were vested in 2023 as the performance-based restricted stock units (PRSUs) will cliff vest in February 2026 based on performance metrics achieved in 2023.

Performance Metrics

The performance metrics for 2023 included pre-tax income and adjusted EBITDA, which directly influenced the cash incentive payouts.

Other Haverty Furniture Companies, Inc. CEOs

Here are other CEOs of Haverty Furniture Companies, Inc.

Steven G. Burdette

CEO of Haverty Furniture Companies, Inc.

January 2025 - Present