Fred Ross was the CEO of Custom Truck One Source from June 2019 until March 2023 when he transitioned to his new role as Founder of the company. He played a significant role in shaping the company’s direction over these...

Fred Ross was the CEO of Custom Truck One Source from June 2019 until March 2023 when he transitioned to his new role as Founder of the company. He played a significant role in shaping the company’s direction over these years. Born in 1962, his background encompasses robust management experience, although his specific educational path is not detailed. Under Fred’s leadership, the company focused on performance metrics, such as Adjusted EBITDA, to drive growth and bonuses for executive compensation. His compensation in 2022 included a salary of $850,000 and was heavily linked to performance-based stock units rather than immediate stock vesting. In the changing landscape of corporate management, Fred has a unique agreement tied to the company’s potential change in control scenarios, which could provide significant bonuses based on stock performance. Even after stepping down as CEO, he continues to influence the company's vision and strategy by serving on the Board of Directors. This ensures that his experience and insights remain a part of Custom Truck's future.

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2. Holdings

3. Insider Trading

4. Compensation History

5. Other Custom Truck One Source CEOs

C

Fred Ross

Founder and Ex-CEO of Custom Truck One Source

Education

Not specified

Field of Expertise

Business & Management

Sector of Economy

Industrials

Born

January 1, 1962 - 63 years ago

CEO of Custom Truck One Source for

3 years 9 months (Jun 2019 - Mar 2023)

Previous Experience

Founder and CEO of Custom Truck One Source, Inc.

Rivals

Competitors/colleagues of Fred Ross

Holdings

See how much did Fred Ross make over time.

Fred Ross holds a significant amount of his wealth in Custom Truck stock. His share ownership has been substantial over the years, especially around his time as CEO, culminating in a value tied closely to the company’s performance metrics such...

Fred Ross holds a significant amount of his wealth in Custom Truck stock. His share ownership has been substantial over the years, especially around his time as CEO, culminating in a value tied closely to the company’s performance metrics such as Adjusted EBITDA. In 2022, his compensation package featured stock grants amounting to 350,000 RSUs, which vest over four years, ensuring he has a vested interest in the company’s long-term success. His previous years' holdings also saw fluctuations, reflecting broader market trends and company performance, particularly as he transitioned from CEO to Founder. This ties his financial well-being directly to the health of the firm he helped build, making each decision critical not just for business, but for his personal financial future.

Insider Trading

See recent insider trades of Fred Ross.

CTOS

31,588 shares

CTOS

Feb 27, 2024

Received

Compensation History

See how much did Fred Ross make over time.

In 2022, Fred Ross's total compensation was approximately $4.26 million, with a base salary of $850,000. His compensation package did not include cash bonuses but was majorly performance-based, relying on longer-term stock options and grants. Notably, he did not receive a traditional annual bonus for his work that year; instead, his stakes were placed in performance-based stock units, meaning his rewards depend on the company's success over time. His contract ensures he remains motivated to drive the company's growth, effectively aligning his interests with those of shareholders. His employment agreement included conditions for potential severance benefits, indicating the importance of having safety nets for top executives in corporate governance.

Year

2022

Total Compensation

$876.91K

Salary

$850.00K

Board Justification

The compensation program aims to attract and retain talented executives, provide pay progression, and reward for value creation for stockholders.

Bonus

$0.00

Board Justification

The annual cash bonus is based on Company performance metrics and/or individual performance objectives, determined by the Board or its Compensation Committee.

Other

$26.91K

Board Justification

Includes $12,083 for 401(k) matching contributions and $14,830 for costs related to a company vehicle.

Restricted Stock

$0.00(0 PSUs)

Board Justification

No stock was vested in 2022 as the focus was on performance-based stock units (PSUs) which are not included in this summary.

Performance Metrics

The annual bonus was based solely on Adjusted EBITDA performance.

Other Custom Truck One Source CEOs

Here are other CEOs of Custom Truck One Source

Ryan McMonagle

CEO of Custom Truck One Source

March 2023 - Present