David S. Haffner served as the CEO of Leggett & Platt, Inc. from 2006 until his retirement in 2015. Born on February 17, 1953, he earned a Bachelor's Degree in Business Administration and spent over three decades at the company....

David S. Haffner served as the CEO of Leggett & Platt, Inc. from 2006 until his retirement in 2015. Born on February 17, 1953, he earned a Bachelor's Degree in Business Administration and spent over three decades at the company. Before becoming CEO, he held several positions, including Chief Operating Officer and President. Haffner is notable for implementing performance-based compensation plans that align executive pay with company results, with a focus on metrics like Return on Capital Employed and Cash Flow. During his leadership, the compensation packages were driven by results—he earned a total compensation of approximately $9.8 million in 2015, which included salary, bonuses, and other compensation. Haffner's tenure is marked by a strategic move toward equity-based compensation, which he believed incentivized executives for long-term success. His commitment to aligning executive interests with shareholder values has left a lasting impact on the company’s culture and performance.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Leggett & Platt CEOs

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David S. Haffner

Ex-CEO of Leggett & Platt

Education

Bachelor's Degree in Business Administration

Field of Expertise

Business & Management

Sector of Economy

Consumer Cyclical

Born

February 17, 1953 - 72 years ago

CEO of Leggett & Platt for

9 years 7 months (May 2006 - Dec 2015)

Previous Experience

President of the Company, Chief Operating Officer

Rivals

Competitors/colleagues of David S. Haffner

A

Stephen W. Beard

CEO of Adtalem Global Education Inc.

2022 Compensation

Stock

$0.00

Salary

$918.00K

Bonus

$0.00

Other

$120.58K

Total Holdings

$12.99M

Holdings

See how much did David S. Haffner make over time.

David S. Haffner has a history of fluctuating stock holdings in Leggett & Platt. Over the years, he has significantly sold and purchased shares of the company, with notable transactions. For instance, in 2008, he bought 15,000 shares for an...

David S. Haffner has a history of fluctuating stock holdings in Leggett & Platt. Over the years, he has significantly sold and purchased shares of the company, with notable transactions. For instance, in 2008, he bought 15,000 shares for an average price of $16.01 per share, investing about $240,000.However, by 2015, as he was set to depart from his CEO role, Haffner had 12,500 restricted stock units that vested immediately, valued at approximately $525,250. This shows a transition where his wealth became more tied to the company’s performance leading into his retirement. He managed to maintain a substantial stake in the company while ensuring his interests were aligned with that of the shareholders.

Total Stock Sold

$7.47M

LEG

$7.47M

261,968 LEG shares

What if they kept their stock?

If David S. Haffner didn't sell their stock, today they would have:
Extra LEG261,968 shares worth $7.83M.
This is 4.78% and $357.42K more than what they got when they sold the stock.

Charitable Transactions

LEG

703,763.5 shares

LEG

Recent Charitable Transactions

LEG

350,113.5 shares

LEG

Dec 7, 2012

Charity

LEG

353,650 shares

LEG

Oct 8, 2012

Charity

Insider Trading

See recent insider trades of David S. Haffner.

LEG

$11.97K

LEG at $35.37/share

Dec 23, 2015

Received

LEG

$11.97K

LEG at $35.71/share

Dec 11, 2015

Received

LEG

$11.97K

LEG at $38.83/share

Nov 25, 2015

Received

LEG

$11.97K

LEG at $36.38/share

Nov 13, 2015

Received

LEG

$1.20M

LEG at $46.26/share

Nov 9, 2015

Sale

LEG

$11.97K

LEG at $37.15/share

Oct 30, 2015

Received

LEG

$11.97K

LEG at $36.17/share

Oct 16, 2015

Received

LEG

$96.20K

LEG at $38.35/share

Oct 15, 2015

Received

LEG

$11.97K

LEG at $34.77/share

Oct 2, 2015

Received

LEG

$11.97K

LEG at $35.91/share

Sep 18, 2015

Received

Compensation History

See how much did David S. Haffner make over time.

In terms of compensation, David S. Haffner's package during his last year as CEO was robust. In 2015, he received a total of about $9.8 million. This figure included a salary of $1.12 million and a significant cash bonus of nearly $1.82 million, which was based on company performance metrics. Additionally, he had vested stocks worth about $4.14 million from his performance stock units. His compensation structure was designed to incentivize him based on achieving specific performance goals rather than solely relying on a high base salary, reflecting a trend in executive compensation practices that focus on aligning interests with those of shareholders.

Year

2015

Total Compensation

$6.16M

Salary

$1.13M

Board Justification

The compensation philosophy emphasizes performance-based equity programs over cash compensation, aligning executive compensation with annual and long-term performance, and providing greater rewards for superior performance while holding executives accountable for underperformance.

Bonus

$1.82M

Board Justification

Annual cash bonuses for calendar years 2015 based on the Company’s Key Officers Incentive Plan, with a target incentive percentage of 115% of base salary.

Other

$2.68M

Board Justification

Includes various forms of compensation such as medical coverage, retirement contributions, and other benefits.

Restricted Stock

$525.25K(12.5K RSU)

Board Justification

Immediate vesting for the remaining 12,500 restricted stock units awarded to him in connection with the Employment Agreement, which vested on December 31, 2015.

Performance Metrics

Return on Capital Employed (ROCE) and Cash Flow, with specific targets set for the annual incentive plan.

Other Leggett & Platt CEOs

Here are other CEOs of Leggett & Platt

Karl G. Glassman

CEO of Leggett & Platt

December 2015 - Present