Patrick J. Dempsey has been the President and CEO of Barnes Group Inc. since March 2013, a role he stepped into after a series of promotions within the company. He joined Barnes in 2000 and climbed the ladder from Vice...

Patrick J. Dempsey has been the President and CEO of Barnes Group Inc. since March 2013, a role he stepped into after a series of promotions within the company. He joined Barnes in 2000 and climbed the ladder from Vice President to CEO, showing his deep commitment and understanding of the business. Interestingly, Dempsey took a temporary leave in March 2022 to take care of a family health issue but bounced back. He also had a brief retirement from Fidelity D & D Bancorp in May 2020, which was not due to any disagreements. His compensation package reflects a strong alignment with performance, where he earned over $8 million in 2020, with most of it from vested stocks rather than a traditional cash bonus, highlighting his focus on long-term success over immediate rewards. Dempsey has a solid education background, although specifics aren’t noted, and his hands-on experience in management underlines his leadership style. Outside of Barnes, he serves on the board of Nucor Corporation, bringing a wealth of industry knowledge to the table. His journey shows a clear evolution from an operational leader to a strategic executive, emphasizing growth and resilience in business.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Barnes Group CEOs

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Patrick J. Dempsey

Ex-CEO of Barnes Group

Field of Expertise

Technology & Engineering - Engineering

Sector of Economy

Industrials

CEO of Barnes Group for

7 years 7 months (Mar 2013 - Oct 2020)

Previous Experience

Senior Vice President and Chief Operating Officer

Rivals

Competitors/colleagues of Patrick J. Dempsey

Holdings

See how much did Patrick J. Dempsey make over time.

Patrick J. Dempsey has held a significant stake in Barnes Group, particularly noted during the peak years like 2020 when his total compensation was reported at $8,154,857. This comprised a substantial portion from vested stock awards, demonstrating his investment in...

Patrick J. Dempsey has held a significant stake in Barnes Group, particularly noted during the peak years like 2020 when his total compensation was reported at $8,154,857. This comprised a substantial portion from vested stock awards, demonstrating his investment in the company’s success. Over recent years, like 2020, his holdings have fluctuated in sync with the company's performance metrics, which include factors like revenue and earnings per share. In 2019, his total compensation was around $8.25 million, which indicates stability in his leadership during various market dynamics. The trend shows that while his salary has seen adjustments, the focus has consistently been on performance-linked elements, which ties his wealth closely to the company's growth. As a CEO who has experienced both peaks and valleys in earnings, Dempsey’s holdings reflect his commitment to the long-term vision of Barnes Group.

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Total Stock Sold

$14.58M

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$14.58M

340,100.158 B shares

What if they kept their stock?

If Patrick J. Dempsey didn't sell their stock, today they would have:
Extra B340,100.158 shares worth $14.53M.
This is -0.37% and $53.81K less than what they got when they sold the stock.

Insider Trading

See recent insider trades of Patrick J. Dempsey.

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21,200 shares

B

Feb 10, 2022

Received

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8,419 shares

B

Jul 15, 2021

Received

B

17,300 shares

B

Feb 11, 2021

Received

B

74,323 shares

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Jul 16, 2020

Received

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13,300 shares

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Feb 13, 2020

Received

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$1.42M

B at $60.50/share

Nov 8, 2019

Sale

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$3.52M

B at $61.28/share

Nov 5, 2019

Sale

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100,076 shares

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Jul 17, 2019

Received

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14,400 shares

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Feb 13, 2019

Received

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14,400 shares

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Feb 13, 2019

Received

Compensation History

See how much did Patrick J. Dempsey make over time.

In 2020, Patrick J. Dempsey's total compensation hit $8,154,857, markedly reflecting his vested stock awards rather than traditional bonuses. His salary for the year stood at $720,000, showing a stable base amidst fluctuating performance metrics that did not meet targets in previous years, leading to minimal bonuses. His compensation structure emphasizes long-term success, where performance metrics such as diluted earnings per share and revenue directly influence earnings. In contrast, he had no immediate stock grants in 2020, which signifies a shift towards rewarding based on realized performance. Across the years, his total compensation has varied, peaking in years where company performance surged, indicating a clear strategy of alignment with shareholder interests. This model contrasts starkly with executive compensation norms, focusing heavily on performance rather than guaranteed bonuses.

Year

2020

Total Compensation

$4.38M

Salary

$720.00K

Board Justification

The compensation philosophy emphasizes performance-based pay aligned with shareholder interests, with a focus on long-term value creation.

Bonus

$0.00

Board Justification

No bonus was awarded for 2020 due to performance metrics not being met.

Other

$149.20K

Board Justification

Other compensation includes life insurance premiums, tax reimbursements, and other perquisites.

Restricted Stock

$3.51M(87.96K RSU)

Board Justification

87,956 shares of stock awards vested in 2020, valued at $3,505,809.

Performance Metrics

The performance metrics for 2020 included diluted EPS, revenue, and days working capital.

Other Barnes Group CEOs

Here are other CEOs of Barnes Group

Gregory F. Milzcik

Ex-CEO of Barnes Group

February 2006 - May 2013

Thomas J. Hook

CEO of Barnes Group

October 2020 - Present