In 2024, Michael L. Hance earned $625.89K in total compensation at Forward Air, primarily from $593.46K salary.
Compensation History
Annual executive compensation data for Michael L. Hance, including salary, bonuses, and stock awards.
Year
2024
Total Compensation
$625.89K
Salary
$593.46K
Bonus
$0.00
Other
$32.42K
Salary
$593.46KBoard Justification
The Compensation Committee has designed our executive compensation program to attract, develop, reward and retain key talent to facilitate achievement of our annual, long-term and strategic goals. One of the Committee’s objectives is to align executives’ interests with shareholders’ interests by creating a pay-for-performance culture at the executive level, with the ultimate goal of increasing shareholder value. Other objectives are to recognize the contributions of individual executives, provide market-competitive pay opportunities, balance short- and long-term compensation elements without encouraging excessive or unnecessary risk taking, and foster retention and executive stock ownership.
Bonus
$0.00Board Justification
No bonus was paid to Michael L. Hance in 2024.
Other Compensation
$32.42KBoard Justification
Other compensation includes 401(k) match of $5,175, long-term disability insurance of $1,880, and a one-time payment of $25,369 to make him whole with respect to a penalty tax assessed by the IRS due to an inadvertent administrative error.
Restricted Stock
Board Justification
No vested stock was paid to Michael L. Hance in 2024.
Performance Metrics
For 2024, the amount of short-term incentive compensation paid to our NEOs under the annual cash incentive plan was determined by our performance against our Consolidated EBITDA for the year ended December 31, 2024 (70%) as calculated pursuant to the Credit Agreement, and Unlevered Free Cash Flow for the six-months ended December 31, 2024 (30%), in order to focus management on achieving performance targets that would ensure compliance with critical financial covenants.
Michael L. Hance
Ex-CEO of Forward Air
Education
Juris Doctor degree from Emory University School of Law.
Field of Expertise
Legal & Compliance - Legal
Sector of Economy
Industrials
Born
June 15, 1970 - 55 years ago
CEO of Forward Air for
0 years 2 months (Feb 2024 - Apr 2024)
Previous Experience
Chief Legal Officer and Secretary of Forward Air Corporation before becoming Interim CEO.
Holdings
Track Michael L. Hance's stock holdings and portfolio value over time.
Insider Trading
Michael L. Hance's recent stock transactions, purchases, and sales filed with the SEC.
No insider trades found for this CEO.
Rivals
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