Sundar PichaiSundar Pichai earned $164M in 2023

Neil A. Schrimsher is the CEO of Applied Industrial Technologies, Inc., where he has led the company since October 2011. With a Bachelor’s Degree in Business Administration and extensive experience in operations, Neil has built a diverse career. Before joining...

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Neil A. Schrimsher

Ex-CEO of Applied Industrial Technologies

Education

Bachelor's Degree in Business Administration

Field of Expertise

Business & Management

Sector of Economy

Industrials

Born

March 15, 1954 - 71 years ago

CEO of Applied Industrial Technologies for

11 years 8 months (Oct 2011 - Jun 2023)

Previous Experience

Executive Vice President of Cooper Industries plc

Holdings

See how much did Neil A. Schrimsher make over time.

As CEO, Neil A. Schrimsher has seen a significant increase in his holdings in Applied Industrial Technologies over the years. For instance, in September 2019, his total holdings were valued at around $9.47 million. By December 2022, this figure ballooned...

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Total Stock Sold

$36.11M

AIT

$36.11M

230,394 AIT shares

What if they kept their stock?

If Neil A. Schrimsher didn't sell their stock, today they would have:
Extra AIT230,394 shares worth $14.05M.
This is -61.08% and $22.06M less than what they got when they sold the stock.

Insider Trading

See recent insider trades of Neil A. Schrimsher.

PDCO

$170.01K

PDCO at $21.74/share

Sep 16, 2024

Received

AIT

$4.34M

AIT at $202.37/share

Aug 21, 2024

Sale

AIT

$748.89K

AIT at $202.24/share

Aug 19, 2024

Sale

AIT

32,122 shares

AIT

Aug 13, 2024

Received

AIT

$15.91M

AIT at $169.72/share

Dec 14, 2023

Sale

PDCO

$145.02K

PDCO at $29.19/share

Sep 11, 2023

Received

AIT

$1.52M

AIT at $154.16/share

Aug 25, 2023

Sale

AIT

$4.63M

AIT at $153.91/share

Aug 14, 2023

Sale

AIT

51,546 shares

AIT

Aug 8, 2023

Received

AIT

$215.16K

AIT at $130.01/share

May 22, 2023

Sale

Compensation History

See how much did Neil A. Schrimsher make over time.

Neil A. Schrimsher's compensation as CEO of Applied Industrial Technologies has been shaped by performance-driven incentives. In 2022, his total compensation reached $2.6 million, comprised of a base salary of $950,000 and a bonus of about $1.65 million that rewarded his leadership and achievement of key company performance metrics. This focus on performance-based pay has been a hallmark of his tenure, with the bonus reflecting 156% of target values based on the company's net income and working capital efficiency. Over the years, his compensation has varied, with notable peaks in 2021 and 2020, where he earned nearly $4.8 million and $6.8 million, respectively, further illustrating how closely his rewards are tied to company success. Neil's approach blends short-term incentives that drive growth while positioning himself and the company for long-term value creation.

Year

2022

Total Compensation

$2.60M

Salary

$950.00K

Board Justification

The compensation philosophy aims to attract and retain qualified executives by providing competitive compensation that aligns with performance and shareholder interests.

Bonus

$1.65M

Board Justification

The Management Incentive Plan payout for 2023 was based on performance metrics including net income and average working capital as a percentage of sales, with an average payout of 156% of target values.

Other

$0.00

Board Justification

No additional compensation was reported outside of salary and bonus for 2022.

Restricted Stock

$0.00(0 N/A)

Board Justification

No stock was vested in 2022 as the focus was on performance shares and other long-term incentives that are tied to future performance.

Performance Metrics

The performance metrics for 2022 included net income and average working capital as a percentage of sales.