Michael Otworth served as the CEO of PureCycle Technologies from 2015 until his resignation in August 2022. He graduated with a degree from two universities: Otterbein University and Ohio State University, focusing on technology. In his time leading PureCycle, he...

Michael Otworth served as the CEO of PureCycle Technologies from 2015 until his resignation in August 2022. He graduated with a degree from two universities: Otterbein University and Ohio State University, focusing on technology. In his time leading PureCycle, he drove the company towards solving the plastic waste crisis by promoting sustainable recycling technologies. During his tenure, he received significant compensation, peaking at over $6.4 million in 2021, mainly due to a large bonus for leading a successful business combination. One notable aspect of his leadership was his involvement in dramatic insider trading transactions, with values exceeding $68 million in mid-2021 alone, revealing significant fluctuations in his company's stock performance. His departure from the company was not due to any internal disagreements, allowing for a smooth transition to his successor. Overall, Otworth was seen as a key player in shaping PureCycle’s strategy and direction in the sustainability sector.

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1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other PureCycle Technologies, Inc. CEOs

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Michael Otworth

Ex-CEO of PureCycle Technologies, Inc.

Education

Bachelor's degree from Otterbein University and Ohio State University

Field of Expertise

Technology & Engineering - Technology

Sector of Economy

Industrials

Born

January 1, 1962 - 63 years ago

CEO of PureCycle Technologies, Inc. for

6 years 10 months (Oct 2015 - Aug 2022)

Previous Experience

Co-founder and Chief Executive Officer of Innventure, LLC

Rivals

Competitors/colleagues of Michael Otworth

Holdings

See how much did Michael Otworth make over time.

During Michael Otworth's time at PureCycle, his insider trading activity showed remarkable fluctuations. In 2021, his holdings peaked at an impressive $68.24 million in July. However, as 2022 unfolded, the value of his holdings saw a significant decline, dropping to...

During Michael Otworth's time at PureCycle, his insider trading activity showed remarkable fluctuations. In 2021, his holdings peaked at an impressive $68.24 million in July. However, as 2022 unfolded, the value of his holdings saw a significant decline, dropping to as low as $30.62 million in January. The fluctuations were tied to the company's stock performance, marking a period of volatility before his eventual resignation. By the end of 2022, his holdings further decreased and were valued much less, reflecting challenges in maintaining stock prices during his final months. This trajectory paints a picture of the high stakes involved in the tech and sustainability sectors, where fortune can change rapidly.

Mar 18, 2025

P

shares

PCT @ $7.70

Insider Trading

See recent insider trades of Michael Otworth.

PCT

$999.99K

PCT at $7.00/share

Mar 17, 2022

Purchase

PCT

226,891 shares

PCT

Mar 2, 2022

Received

PCT

69,940 shares

PCT

Jul 8, 2021

Received

Compensation History

See how much did Michael Otworth make over time.

In 2022, Michael Otworth's total compensation amounted to around $523,809, which included a base salary of $772,500 and a bonus of $500,000 due to the company's financial performance and his separation from the company. His 2021 compensation was much higher at approximately $6.4 million, primarily driven by a substantial bonus linked to a major business transaction. This shows an interesting contrast in his earnings, highlighting a significant decrease in compensation upon his exit. Otworth's compensation structure was designed to align with overall company performance, indicating a strategy to incentivize leadership in achieving corporate goals through hefty bonuses and other financial incentives.

Year

2022

Total Compensation

$1.42M

Salary

$772.50K

Board Justification

The compensation philosophy is designed to attract, develop, and retain motivated executives and key employees, aligning their interests with those of shareholders.

Bonus

$500.00K

Board Justification

Partial payout of his 2022 short-term incentive award opportunity due to separation from the company.

Other

$23.11K

Board Justification

Reimbursements for COBRA premiums that exceed active employee rates for coverage for him and his dependents for up to 12 months following his separation.

Restricted Stock

$123.27K(17.46K common stock)

Board Justification

17,460 shares of common stock vested in 2022.

Performance Metrics

Performance metrics include strategic and financial goals related to the company's operations and growth.

Other PureCycle Technologies, Inc. CEOs

Here are other CEOs of PureCycle Technologies, Inc.

Dustin Olson

CEO of PureCycle Technologies, Inc.

August 2022 - Present