Thomas Ernst served as the Chief Financial Officer and Treasurer at Symbotic Inc., a top player in the automation technology sector, from 2020 until his planned retirement in December 2023. Under his watch, the company expanded its advanced robotics and...

Thomas Ernst served as the Chief Financial Officer and Treasurer at Symbotic Inc., a top player in the automation technology sector, from 2020 until his planned retirement in December 2023. Under his watch, the company expanded its advanced robotics and AI capabilities, significantly enhancing warehouse operations for major retailers. In 2023, Ernst's compensation totaled about $2.65 million, which included a base salary of $375,000 and over $2.18 million in vested stock units. He has a practical approach to leadership, emphasizing alignment of employee incentives with company performance. Notably, he transitioned to the role of principal accounting officer within the company in June 2023, showing versatility and dedication. Ernst is set to retire but will continue consulting for the company, indicating his commitment to guiding Symbotic through upcoming transitions. His tenure has involved navigating various challenges, including the lack of bonuses in 2023 due to unmet performance targets, underscoring a performance-based philosophy essential for sustaining growth.

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1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Symbotic Inc. CEOs

S

Thomas Ernst

Ex-CEO of Symbotic Inc.

Sector of Economy

Financial Services

CEO of Symbotic Inc. for

0 years 2 months (Oct 2023 - Dec 2023)

Previous Experience

Unknown

Rivals

Competitors/colleagues of Thomas Ernst

W

C. Douglas McMillon

CEO of Walmart

2023 Compensation

Stock

$0.00

Salary

$1.47M

Bonus

$0.00

Other

$199.58K

Total Holdings

$433.19M

Holdings

See how much did Thomas Ernst make over time.

Throughout his time at Symbotic, Thomas Ernst held significant stock holdings, reflecting his confidence in the company's future. In September 2023, he had around 393,800 shares from a previous equity grant valued around $13 million. Additionally, he received 93,502 Restricted...

Throughout his time at Symbotic, Thomas Ernst held significant stock holdings, reflecting his confidence in the company's future. In September 2023, he had around 393,800 shares from a previous equity grant valued around $13 million. Additionally, he received 93,502 Restricted Stock Units (RSUs) in February 2023 that were set to vest gradually over time, showcasing his alignment with long-term company performance and incentives. As of late 2023, his financial interests in the company were worth approximately $16 million. These holdings were crucial for Ernst's overall compensation portfolio, illustrating how executives are encouraged to remain invested in the firm's success. His planned transition to consulting post-retirement will keep a level of his investment tied to the company’s ongoing performance.

No data yet.

Total Stock Sold

$6.24M

SYM

$6.24M

150,000 SYM shares

What if they kept their stock?

If Thomas Ernst didn't sell their stock, today they would have:
Extra SYM150,000 shares worth $3.01M.
This is -51.76% and $3.23M less than what they got when they sold the stock.

Charitable Transactions

SYM

1,000 shares

SYM

Recent Charitable Transactions

SYM

1,000 shares

SYM

Dec 13, 2023

Charity

Insider Trading

See recent insider trades of Thomas Ernst.

SYM

1,000 shares

SYM

Dec 13, 2023

Charity

SYM

$4.68M

SYM at $39.46/share

Aug 29, 2023

Sale

SYM

$1.59M

SYM at $50.64/share

Aug 8, 2023

Sale

SYM

$4.32K

SYM at $10.15/share

Feb 6, 2023

Received

SYM

12,926 shares

SYM

Aug 2, 2022

Received

SYM

25,852 shares

SYM

Jul 19, 2022

Received

SYM

984,501 shares

SYM

Jun 7, 2022

Received

Compensation History

See how much did Thomas Ernst make over time.

In fiscal 2023, Thomas Ernst earned a total compensation of approximately $2.65 million. This comprised a $375,000 base salary and significant vested stock units valued at over $2.18 million. Notably, he did not receive a cash bonus due to performance measures that failed to meet targets. Instead, his focus has been on long-term shareholder value, demonstrated by the vesting of 93,502 RSUs and his role in shaping financial strategies that align with company growth. He has a structured compensation philosophy that supports retaining top talent while linking pay to performance metrics like revenue and adjusted EBITDA. As he prepares for retirement, his severance and consulting agreements highlight a thoughtful approach to ensuring a smooth transition in leadership.

Year

2023

Total Compensation

$2.65M

Salary

$375.00K

Board Justification

The compensation philosophy aims to attract, motivate, and retain outstanding individuals while aligning compensation with company performance and peer benchmarking.

Bonus

$0.00

Board Justification

No bonuses were paid for fiscal year 2023 due to performance results not meeting targets.

Other

$88.80K

Board Justification

Other compensation includes $8,654 in 401(k) plan employer contributions and $80,147 in Member Program payments.

Restricted Stock

$2.19M(93.5K RSU)

Board Justification

93,502 RSUs granted on February 6, 2023, vesting over time with 1/3 vesting on February 6, 2024, and the remainder vesting quarterly thereafter, subject to continued service.

Performance Metrics

The performance metrics for fiscal year 2023 were based on revenue and adjusted EBITDA targets.

Other Symbotic Inc. CEOs

Here are other CEOs of Symbotic Inc.

Richard B. Cohen

Ex-CEO of Symbotic Inc.

November 2022 - October 2023

Carol Hibbard

CEO of Symbotic Inc.

December 2023 - Present