In 2023, Michael McGaugh earned $3.65M in total compensation at Myers Industries, including $721.81K salary, $549.55K bonus and $2.15M in stock. Most recently acquired 25,000 shares in May 2020. Currently holds stock worth $4.41M. Led Myers Industries as CEO for 2 years.
Compensation History
Annual executive compensation data for Michael McGaugh, including salary, bonuses, and stock awards.
Year
2023
Total Compensation
$3.65M
Salary
$721.81K
Bonus
$549.55K
Other
$227.79K
Salary
$721.81KBoard Justification
The compensation philosophy is designed to attract and retain talented executives, align their interests with those of shareholders, and incentivize performance that drives long-term shareholder value.
Bonus
$549.55KBoard Justification
The annual incentive plan is a cash-based incentive plan based on achieving targeted levels of adjusted EBITDA. For 2023, the target goal was $108 million, with a maximum goal of $152 million. The actual adjusted EBITDA achieved was $97.3 million, resulting in a payout of 75.8% of the target bonus.
Other Compensation
$227.79KBoard Justification
Other compensation includes contributions to the 401(k) plan, executive physicals, dividends upon vesting of restricted stock awards, and temporary housing costs.
Restricted Stock
Board Justification
The stock awards that vested in 2023 were restricted stock units that were granted in prior years and vested based on continued employment and performance metrics. The total number of shares that vested in 2023 was 107,575.
Performance Metrics
The primary performance metric for the annual bonus is adjusted EBITDA, while long-term incentives are based on cumulative adjusted EBITDA over a three-year performance period, subject to a relative total shareholder return (TSR) modifier.
Michael McGaugh
Ex-CEO of Myers Industries
Education
Not specified
Sector of Economy
Consumer Cyclical
Born
March 12, 1974 - 51 years ago
CEO of Myers Industries for
2 years 11 months (Apr 2020 - Apr 2023)
Previous Experience
Executive Vice President and Chief Operating Officer of BMC Stock Holdings, Inc.
Holdings
Track Michael McGaugh's stock holdings and portfolio value over time.
Insider Trading
Michael McGaugh's recent stock transactions, purchases, and sales filed with the SEC.
$303.50K
MYE at $12.14/share
May 12, 2020
Purchase
Rivals
Compare Michael McGaugh with competitor CEOs and industry peers.