Ryan Kavalauskas
About Ryan Kavalauskas
Ryan Kavalauskas, age 41, was appointed Chief Financial Officer of Ascent Industries Co. (ACNT) on February 10, 2024 after joining the company earlier that month as VP of FP&A for Ascent Chemicals . He previously served as CFO of Clearon Corp. (Dec 2018–Nov 2022) and Assistant Treasurer/FP&A at Advancion (f/k/a Angus Chemical) (Dec 2015–Dec 2018) . Company-level pay-versus-performance data show the value of a fixed $100 TSR investment at $68.05 for 2024 and net loss of $(13.60) million, framing the operating backdrop for 2024 compensation outcomes .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Ascent Industries Co. | Chief Financial Officer | Appointed Feb 10, 2024 | Elevated to CFO to drive controls and profitability post-chemicals division leadership changes |
| Ascent Chemicals (division) | VP, Financial Planning & Analysis | Feb 2024 | Led FP&A across the organization; role preceding CFO appointment |
| Clearon Corp. | Chief Financial Officer (and Treasurer) | Dec 2018 – Nov 2022 | Oversaw finance at specialty chemicals firm; worked alongside future ACNT CEO |
| Advancion (f/k/a Angus Chemical) | Assistant Treasurer & FP&A | Dec 2015 – Dec 2018 | Led FP&A and treasury in carve-out context within chemicals industry |
Fixed Compensation
| Item | 2024 | Notes |
|---|---|---|
| Base Salary (annual) | $350,000 | Offer letter terms |
| Target Short-Term Incentive (STI) | 50% of base salary | Pro-rated for 2024 |
| Actual Bonus Paid (STI) | $0 | Bonus column shows “—” for 2024 |
| Salary Paid (SCT) | $308,173 | Pro-rated due to February start |
Performance Compensation
| Incentive Type | Metric | Weighting/Structure | Target | Actual/Payout | Vesting Details |
|---|---|---|---|---|---|
| STI (cash/equity at Committee discretion) | Financial and operational performance targets | Target 50% of base | Targets set annually by Board | $0 for 2024 | Annual approval; must be employed on payment date |
| LTI – RSUs | Time-based service | 50% of initial grant | $150,000 total initial equity grant (combined RSU/PSU) | Grant date fair value included in Stock Awards ($89,851 shown in SCT for 2024) | Vest 33% annually on Feb 10 anniversaries (2025/2026/2027) |
| LTI – PSUs | Stock price (30-day VWAP thresholds) | 50% of initial grant | $13, $16, $19 VWAP thresholds | Outstanding at 12/31/24; included in equity awards tables | Vests in three equal tranches upon hitting VWAP thresholds |
Equity Ownership & Alignment
| Item | Details |
|---|---|
| Beneficial Ownership | 7,523 shares; <1% of total |
| Unvested RSUs (12/31/24) | 7,523 units; market value $84,107 (based on $11.18 12/31/24 close) |
| Unearned PSUs (12/31/24) | 7,523 units; price-based vesting at VWAP thresholds |
| Options | None outstanding (12/31/24) |
| Ownership Guidelines | CFO required cost-basis ownership of $250,000; 5 years to comply |
| Compliance Status | Within five-year period to achieve target (new executive) |
| Hedging/Pledging | Prohibited under Insider Trading Policy; directors/officers may not pledge ACNT stock |
| Clawback | Adopted policy to recoup incentive comp tied to financial reporting measures upon restatement |
Employment Terms
| Term | Disclosure |
|---|---|
| Appointment Date | Feb 10, 2024 (CFO) |
| Contract Type | Employment-at-will |
| Severance | Not disclosed in offer letter |
| Change-of-Control | Not disclosed |
| Benefits | Executive PTO, health benefits, 401(k) |
| Initial Equity Grant | $150,000 RSU/PSU split evenly; RSUs 33% annual vest; PSUs vest at VWAP $13/$16/$19 |
| Section 16 Filings | Form 4 filed late for 2/10/2024 event, filed 2/15/2024 |
Additional Company-Level Performance Context
| Year | TSR value of fixed $100 investment | Net Income ($MM) |
|---|---|---|
| 2024 | $68.05 | $(13.60) |
| 2023 | $58.19 | $(26.63) |
| 2022 | $52.77 | $22.07 |
Risk Indicators & Red Flags
- Anti-hedging/anti-pledging policy reduces misalignment risk; pledging prohibited .
- Clawback policy covering incentive comp tied to financial reporting enhances governance .
- Late Form 4 (event 2/10/24; filed 2/15/24) noted for Kavalauskas and other insiders in 2024 .
- Options are not part of current NEO mix; equity is RSU/PSU only, limiting option repricing risk .
Compensation Structure Analysis
- Cash vs equity mix: 2024 SCT shows salary of $308,173 and stock awards of $89,851, with no bonus paid, indicating heavier reliance on equity/time-based and performance share grants in first year .
- Shift to RSUs/PSUs: LTI split evenly between RSUs and PSUs; no stock options granted to NEOs per policy .
- At-risk pay: STI contingent on annual financial/operational targets; PSUs contingent on multi-threshold VWAP, reinforcing pay-for-performance .
- Ownership policy: CFO required $250,000 cost-basis holdings within 5 years; currently within compliance timeline .
Investment Implications
- Alignment: Even split RSU/PSU aligns CFO incentives to both retention and share price performance; price-based PSUs at $13/$16/$19 VWAP create observable vesting catalysts that can impact insider selling windows upon vesting .
- Retention: Employment-at-will with no disclosed severance or change-of-control terms suggests limited guaranteed protections; retention relies on equity incentives and ownership policy progress .
- Trading signals: Monitor 30-day VWAP relative to $13/$16/$19 PSU triggers and Feb 10 RSU anniversary vest dates; vesting events can increase potential insider selling eligibility depending on blackout windows and policy .
- Governance: Anti-hedging/pledging and clawback policies reduce misalignment and restatement risk; late Form 4 in 2024 is a minor compliance footnote rather than a systemic issue .