Mark A. Carano is the Chief Financial Officer and Vice President at SPX Technologies, Inc. since January 2023. He has a background in finance, holding senior roles at Insteel Industries and Big River Steel before joining SPX. Coming to SPX,...

Mark A. Carano is the Chief Financial Officer and Vice President at SPX Technologies, Inc. since January 2023. He has a background in finance, holding senior roles at Insteel Industries and Big River Steel before joining SPX. Coming to SPX, he received a significant sign-on bonus to help cover his previous compensation losses from his prior job. In 2023, his total compensation was around $286,905, which included a $500,000 salary and a $100,000 bonus. His experience helps bridge the gap between financial management and business strategy, crucial for SPX's growth. Carano is also active in using his stock options, making various insider trades throughout the year, showcasing his confidence in the company’s future. His stock dealings ranged in value, with his largest trade reaching $2.97 million. Overall, Carano brings a wealth of knowledge and strategic insight from years in the finance sector, positioning SPX Technologies for potential growth and success.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other SPX Technologies CEOs

S

Mark A. Carano

CEO of SPX Technologies

Education

Not specified

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Industrials

Born

January 1, 1970 - 55 years ago

CEO of SPX Technologies for

2 years 6 months (Jan 2023 - Present)

Previous Experience

Senior Vice President, Chief Financial Officer and Treasurer at Insteel Industries, Inc.

Rivals

Competitors/colleagues of Mark A. Carano

E

Craig Arnold

CEO of Eaton Corporation

2023 Compensation

Stock

$18.84M

Salary

$1.44M

Bonus

$0.00

Other

$234.61K

Total Holdings

$23.28M

I

Vicente Reynal

CEO of Ingersoll Rand

2023 Compensation

Stock

$0.00

Salary

$1.13M

Bonus

$3.43M

Other

$175.95K

Total Holdings

$65.37M

D

Richard J. Tobin

CEO of Dover

2023 Compensation

Stock

$3.25M

Salary

$1.29M

Bonus

$2.00M

Other

$207.19K

Total Holdings

$69.71M

A

Gunnar Kleveland

CEO of Albany International Inc.

2023 Compensation

Stock

$507.48K

Salary

$300.00K

Bonus

$3.30M

Other

$139.67K

Total Holdings

$879.42K

D

Tod E. Carpenter

CEO of Donaldson Company

2022 Compensation

Stock

$0.00

Salary

$1.06M

Bonus

$1.28M

Other

$182.89K

Total Holdings

$29.63M

J

Bob Pragada

CEO of Jacobs Solutions

2023 Compensation

Stock

$1.50M

Salary

$1.00M

Bonus

$500.00K

Other

$200.00K

Total Holdings

$34.62M

Holdings

See how much did Mark A. Carano make over time.

Mark A. Carano has shown a keen interest in the ownership of SPX Technologies, reflected in his aggressive insider trading activity since joining in January 2023. His trades have varied in value, starting from $256,990 in February 2023 to peaks...

Mark A. Carano has shown a keen interest in the ownership of SPX Technologies, reflected in his aggressive insider trading activity since joining in January 2023. His trades have varied in value, starting from $256,990 in February 2023 to peaks like $2.97 million in August 2024. As an executive, he has consistently traded in sizeable amounts, often crossing the million-dollar mark each month. This showcases not only his belief in the company’s direction but also aligns his financial stakes directly with SPX’s performance. Carano's holdings have sharply increased in value, indicating both a bullish outlook for SPX Technologies and his growing portfolio in the company. At one point, Carano's wealth was heavily tied up in SPX, underlining a significant personal investment in its success.

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Insider Trading

See recent insider trades of Mark A. Carano.

SPXC

5,316 shares

SPXC

Feb 28, 2024

Received

SPXC

7,224 shares

SPXC

Mar 1, 2023

Received

SPXC

9,803 shares

SPXC

Mar 1, 2023

Received

SPXC

3,499 shares

SPXC

Feb 1, 2023

Received

Compensation History

See how much did Mark A. Carano make over time.

In 2023, Mark A. Carano received a total compensation of $286,905 from SPX Technologies. He earned a base salary of $500,000, plus a sign-on bonus of $100,000 to help offset prior compensation. Although he received no stock awards that vested in 2023, he was granted 2,408 restricted stock units (RSUs) that will vest over three years. Notably, his compensation aligns with SPX's policy of tying executive pay to performance metrics such as operating income and revenue growth. His compensation reflects the company's strategy to motivate its leadership with performance-based bonuses. Given his extensive background in finance and corporate roles, Carano’s package is structured to ensure that he is focused on delivering results for SPX Technologies.

Year

2023

Total Compensation

$629.32K

Salary

$500.00K

Board Justification

The compensation program is designed to align short- and long-term rewards directly to business performance, with a significant portion of total compensation being variable and tied to performance metrics.

Bonus

$100.00K

Board Justification

Mr. Carano received a sign-on bonus of $100,000 to offset the loss of a portion of the incentive compensation under his prior employment arrangement, paid in 2023.

Other

$29.32K

Board Justification

Other compensation includes financial planning, executive physical, matching gifts, and retirement savings plan match.

Restricted Stock

$0.00(0 RSU)

Board Justification

No stock awards vested in 2023 as Mr. Carano was hired effective January 3, 2023.

Performance Metrics

The performance metrics for the annual incentive included adjusted operating income, adjusted free cash flow, and adjusted revenue.

Other SPX Technologies CEOs

Here are other CEOs of SPX Technologies

Michael A. Reilly

Ex-CEO of SPX Technologies

September 2022 - January 2023