Sundar PichaiSundar Pichai earned $164M in 2023

Steven L. Berman has been at the helm of Dorman Products since 2011, stepping into the role of Chairman and Chief Executive Officer after the passing of his brother, Richard N. Berman. He has been with Dorman since 1978, accumulating...

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Steven L. Berman

Ex-CEO of Dorman Products

Education

Bachelor's degree in Business Administration

Field of Expertise

Business & Management

Sector of Economy

Consumer Cyclical

Born

January 1, 1960 - 65 years ago

CEO of Dorman Products for

7 years 11 months (Jan 2011 - Dec 2018)

Previous Experience

Various positions at Dorman Products since 1978

Rivals

Competitors/colleagues of Steven L. Berman

Holdings

See how much did Steven L. Berman make over time.

Steven L. Berman has a significant stake in Dorman Products, owning 2.83 million shares which equates to roughly 9.1% of the company. Over the years, his holdings have fluctuated as he has navigated changes in the market and the company’s...

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Total Stock Sold

$9.87M

DORM

$9.87M

84,831 DORM shares

What if they kept their stock?

If Steven L. Berman didn't sell their stock, today they would have:
Extra DORM84,831 shares worth $5.46M.
This is -44.66% and $4.41M less than what they got when they sold the stock.

Insider Trading

See recent insider trades of Steven L. Berman.

DORM

$72.43K

DORM at $115.52/share

Sep 26, 2024

Sale

DORM

$213.98K

DORM at $115.91/share

Sep 24, 2024

Sale

DORM

$25.16K

DORM at $117.01/share

Sep 20, 2024

Sale

DORM

$2.72M

DORM at $117.13/share

Sep 18, 2024

Sale

DORM

$6.90M

DORM at $117.10/share

Sep 16, 2024

Sale

Compensation History

See how much did Steven L. Berman make over time.

In 2023, Steven L. Berman's total compensation was $4.2 million. His earnings come from various sources, including a $884,513 base salary and additional bonuses and stock options. Notably, there was a sizable $2.1 million in stock awards, emphasizing how his pay is tied to the company's performance. His 2023 pay reflects a strategic alignment with Dorman's growth as well as a commitment to shareholder interests. Each component of his compensation reinforces the approach that executive pay should correspond to the success of the company and its ability to meet performance benchmarks. Over the years, his pay has varied, reflecting changes in the market and the company's financial health, but the focus remains on linking rewards to performance metrics.

Year

2023

Total Compensation

$1.02M

Salary

$420.00K

Board Justification

The compensation philosophy aims to align executive compensation with company performance and shareholder interests, rewarding executives for achieving strategic goals and operational excellence.

Bonus

$150.00K

Board Justification

Annual cash payment of $150,000 for each year during the three-year period following termination as Non-Executive Chairman.

Other

$451.27K

Board Justification

Includes transition pay of $298,846 for the period from April 1, 2023 to December 31, 2023, and company matching contributions under the 401(k) plan of $2,423.

Restricted Stock

$0.00(0 RSU)

Board Justification

No stock grants vested in 2023 as Mr. Berman will not receive compensation under the independent director compensation program until the later of the date the Unvested Awards vest and are payable and April 1, 2026.

Performance Metrics

Performance metrics include adjusted pre-tax income, net sales, and free cash flow as a percentage of net income.