David M. Wathen served as the CEO of TriMas Corporation from January 2009 to July 2016. His journey began with a solid background in engineering and business, holding degrees from Purdue University and St. Francis University. Wathen has a wealth...

David M. Wathen served as the CEO of TriMas Corporation from January 2009 to July 2016. His journey began with a solid background in engineering and business, holding degrees from Purdue University and St. Francis University. Wathen has a wealth of experience, having held key positions at notable companies like General Electric, Eaton Corporation, and Emerson Electric. One interesting point in Wathen's career was his time as the CEO of Balfour Beatty's North American Operations, where he managed large projects in the construction industry. Under his leadership at TriMas, the company navigated several challenges and opportunities, reflecting his strong management skills. Wathen's approach to compensation was notably tied to performance metrics, emphasizing sales growth and operational achievements, which shows he believes in aligning interests with the company's success. Despite stepping down, Wathen's previous insider trading data shows significant holdings in TriMas, indicating that he had skin in the game. Overall, David M. Wathen’s career is marked by a dedication to operational excellence and leadership in manufacturing.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Trimas CEOs

T

David M. Wathen

Ex-CEO of Trimas

Education

MBA from Harvard Business School, BS in Mechanical Engineering from Purdue University.

Field of Expertise

Technology & Engineering - Engineering

Sector of Economy

Consumer Cyclical

Born

June 15, 1951 - 73 years ago

CEO of Trimas for

7 years 6 months (Jan 2009 - Jul 2016)

Previous Experience

Served as President and CEO of Metaldyne Corporation.

Rivals

Competitors/colleagues of David M. Wathen

Holdings

See how much did David M. Wathen make over time.

David M. Wathen's insider trading data reflects significant fluctuations in his holdings during his time as CEO of TriMas Corporation. At its peak in 2021, his holdings were valued at around $22.76 million, showing confidence in the company’s performance. After...

David M. Wathen's insider trading data reflects significant fluctuations in his holdings during his time as CEO of TriMas Corporation. At its peak in 2021, his holdings were valued at around $22.76 million, showing confidence in the company’s performance. After his tenure as CEO ended, values saw a gradual decline, dropping to approximately $15.14 million by 2024. This trend suggests a proactive engagement in managing his assets relative to TriMas' stock performance over the years. Wathen’s commitment to holding a large portion of his net worth in company stocks illustrates a long-term belief in the potential of TriMas Corporation, although market factors and company developments post-tenure have influenced the current valuation.

Total Stock Sold

$2.95M

FELE

$414.75K

8,515 FELE shares

TRS

$2.53M

113,411 TRS shares

What if they kept their stock?

If David M. Wathen didn't sell their stock, today they would have:
Extra FELE8,515 shares worth $416.21K and TRS113,411 shares worth $2.72M.
This is 6.5% and $191.41K more than what they got when they sold the stock.

Insider Trading

See recent insider trades of David M. Wathen.

FELE

2,289 shares

FELE

May 2, 2024

Received

FELE

1,387 shares

FELE

May 4, 2023

Received

FELE

1,838 shares

FELE

May 6, 2022

Received

FELE

$128.06K

FELE at $85.66/share

Dec 31, 2021

Sale

FELE

1,495 shares

FELE

May 13, 2021

Received

FELE

$112.35K

FELE at $44.55/share

Dec 31, 2020

Sale

FELE

2,522 shares

FELE

May 7, 2020

Received

FELE

$172.19K

FELE at $38.28/share

Aug 1, 2016

Sale

TRS

108,832 shares

TRS

Mar 1, 2016

Received

TRS

6,437 shares

TRS

Sep 10, 2015

Received

Compensation History

See how much did David M. Wathen make over time.

During his tenure at TriMas, David M. Wathen's compensation saw significant variations. In 2015, he earned a total of about $4.9 million, primarily from a substantial stock award that vested that year, showing that his compensation was heavily linked to company performance. However, in 2016, after his departure from the company, his total compensation shrank to $587,093. The sharp contrast in his pay highlights the significant impact of leadership changes on executive pay structures. Moreover, his compensation packages have been structured to align with the company’s success, emphasizing financial and operational metrics that directly influence shareholder interests. Wathen’s approach reflects a clear philosophy: rewarding executives for actual performance is the best way to drive a company's success and shareholder satisfaction.

Year

2016

Total Compensation

$587.09K

Salary

$444.29K

Board Justification

The compensation philosophy is designed to attract and retain key leaders, motivate executives to improve financial and operational performance, and reward achievement that aligns with shareholder interests.

Bonus

$0.00

Board Justification

No bonus was awarded as Mr. Wathen left the Company effective July 25, 2016, resulting in a prorated award from the original target.

Other

$142.80K

Board Justification

Other compensation includes a perquisite allowance of $41,250 and contributions to retirement and 401(k) plans totaling $74,740.

Restricted Stock

$0.00(0 RSU)

Board Justification

No stock was vested in 2016 as Mr. Wathen's stock awards were pro-rated upon his departure.

Performance Metrics

The performance metrics include sales, operating profit margin, cash flow generation, and earnings per share.

Other Trimas CEOs

Here are other CEOs of Trimas

Thomas Amato

CEO of Trimas

July 2016 - Present