Mark Mummert
ALBEMARLEAbout Mark Mummert
Mark M. Mummert (age 57) is Albemarle’s Chief Operations Officer (effective August 11, 2025), responsible for an integrated function spanning resources (including JV management), global manufacturing, capital projects, and supply chain, reporting to the CEO . He joined Albemarle in 2019 and has held successive operations and supply-chain leadership roles; prior experience includes senior roles at FMC Corporation, 20 years at Rohm and Haas in manufacturing and engineering, and roles at Dow Chemical . Albemarle’s incentive design emphasizes near-term Adjusted EBITDA and cash flow plus stewardship and individual goals, with long-term PSUs tied to relative TSR and Adjusted ROIC—indicating a pay program geared toward profitability, cash generation, and capital efficiency alignment for operating leaders like the COO .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Albemarle | Chief Operations Officer | Aug 2025 – Present | Leads integrated resources, manufacturing, capital projects, and supply chain to drive operational excellence and agility |
| Albemarle | SVP & Chief Capital, Resources and Integrated Supply Chain Officer | Nov 2024 – Aug 2025 | Oversaw capital portfolio and end-to-end supply chain across enterprise |
| Albemarle | SVP, Capital Projects and Integrated Supply Chain | May 2024 – Nov 2024 | Advanced capital project execution and supply-chain integration |
| Albemarle | COO, Energy Storage business | 2019 – May 2024 | Built and operated lithium/energy storage operations during expansion phase |
| FMC Corporation | Progressive supply chain and global operations leadership | Not disclosed (pre-2019) | Large-scale ops and supply experience in specialty chemicals |
| Rohm and Haas | Manufacturing and engineering roles | 20 years (dates not disclosed) | Deep process/operations expertise in chemicals |
| Dow Chemical | Various roles | Not disclosed | Additional large-cap chemicals operating experience |
External Roles
No public-company directorships or external roles were disclosed for Mr. Mummert in Albemarle’s press release and 8-K announcing his appointment .
Fixed Compensation
| Component | Terms | Effective Date |
|---|---|---|
| Base Salary | $550,000 | Aug 11, 2025 |
| Target Annual Incentive (AIP) | 80% of eligible earnings | Aug 11, 2025 |
| Standard Executive Benefits | Eligible per company programs | Aug 11, 2025 |
Notes:
- At Albemarle, short-term incentive opportunity range is 0%–200% of target under the AIP framework .
Performance Compensation
Annual Incentive Plan (AIP) – Plan Design
| Metric | Weighting | Target | Actual | Payout Mechanics | Notes |
|---|---|---|---|---|---|
| Adjusted EBITDA | 45% | Not disclosed | Not disclosed | Company score-based; total AIP 0%–200% of target | Plan summary |
| Adjusted Cash Flow from Operations | 30% | Not disclosed | Not disclosed | As above | Plan summary |
| Stewardship (safety/environment) | 10% | Not disclosed | Not disclosed | As above | Plan summary |
| Individual Objectives | 15% | Not disclosed | Not disclosed | As above | Plan summary |
Albemarle discloses plan metrics and weights but not Mr. Mummert’s individual targets/actuals in the reviewed filings .
Long-Term Incentive (LTI) – Structure and 2026 Target
| Element | Weighting/Mix | Grant Timing | Vesting | Expiration | Target Value |
|---|---|---|---|---|---|
| PSUs (performance shares) | Part of combined LTI; company plan uses PSUs 50% | Q1 2026 (next cycle) | 3-year performance period; vests at end based on goals | N/A | Included in $1,400,000 2026 target |
| Stock Options | Part of combined LTI; company plan uses options 25% | Q1 2026 | Cliff vest at 3rd anniversary | 10 years from grant | Included in $1,400,000 2026 target |
| RSUs | Part of combined LTI; company plan uses RSUs 25% | Q1 2026 | Cliff vest at 3rd anniversary | N/A | Included in $1,400,000 2026 target |
Long-term metrics for PSUs (company plan):
- Relative TSR: 50% weighting
- Adjusted ROIC: 50% weighting
Vesting Schedules and Potential Selling Pressure
| Vehicle | Expected Grant | Vesting Schedule | First Potential Vest/Exercise | Expiration |
|---|---|---|---|---|
| RSUs | Q1 2026 | 100% at 3rd anniversary | Q1 2029 | N/A |
| Stock Options | Q1 2026 | 100% at 3rd anniversary | Q1 2029 (upon vest) | 10 years from grant (Q1 2036) |
| PSUs | Q1 2026 | 3-year performance period; vest at end based on results | Q1 2029 (subject to performance) | N/A |
The 3-year cliff structures concentrate potential liquidity events around 1Q 2029, which can influence insider selling windows subject to plan outcomes and trading windows .
Equity Ownership & Alignment
- Executive stock ownership guidelines: CEO 6x salary; CFO 4x; Other executive officers 3x; executives must hold at least 50% of net shares vesting in any 12-month period until compliant; stock options do not count toward ownership; unvested stock/units count at 60% .
- Anti-hedging and anti-pledging: Prohibited (no short sales, options, margin, pledging/encumbering, or hedging of company stock); trading only in open windows or under compliant Rule 10b5-1 plans .
- 2025 Proxy ownership table lists directors/NEOs as of March 12, 2025; Mr. Mummert is not listed (he was appointed COO in August 2025), so his beneficial ownership was not disclosed there .
Employment Terms
| Term | Detail |
|---|---|
| Position | Chief Operations Officer (effective Aug 11, 2025) |
| Base Salary | $550,000 |
| AIP Target | 80% of eligible earnings |
| LTI Target (2026) | $1,400,000, expected mix of PSUs, RSUs and/or options; to be awarded 1Q26 |
| Benefits | Eligible for standard executive programs |
| Clawbacks | Company maintains Dodd-Frank 10D-compliant recovery policy for restatements and a broader recoupment/forfeiture policy for misconduct (cash and equity) |
| Ownership/Trading | Ownership guidelines and holding requirement; no hedging or pledging; trading window/10b5-1 constraints |
Severance and Change-in-Control (company policy framework)
| Provision | CEO | Other NEOs (relevant to COO role) |
|---|---|---|
| Severance multiple (outside CIC) | 2x base + target AIP | 1.5x base + target AIP |
| CIC severance multiple | 3x base + target AIP | 2x base + target AIP |
| CIC trigger | Termination without Cause or for Good Reason within 2 years (double-trigger) | Same (double-trigger) |
| Pro-rata AIP in year of termination | Based on actual performance | Based on actual/target per plan; company description applies |
| COBRA coverage | 2 years company-paid | 2 years company-paid |
| Financial counseling | 2 years up to $12,500/yr | 2 years up to $12,500/yr |
| Outplacement | Up to $25,000 | Up to $25,000 |
| Non-compete / non-solicit | 3 years post-employment (CEO) | 2 years post-employment (other NEOs) |
| Excise tax gross-up | None; best-net cutback applies |
Definitions and equity treatment:
- “Cause” and “Good Reason” definitions outlined in proxy (e.g., material duty failures, misconduct, etc.; good reason includes demotion, pay reduction, relocation beyond 35 miles, benefit plan failures, etc.) .
- Equity upon termination (outside CIC): RSUs and options prorate 1/36th per month of service; PSUs prorate 1/36th and vest based on actual performance at end of performance period; forfeiture for voluntary resignation/for cause .
- Equity grant policy: grants generally during open windows; RSUs/options cliff vest at 3 years; options at fair market value; repricing not permitted without shareholder approval .
Compensation Structure Analysis
- High at-risk mix consistent with Albemarle’s design: CEO ~90% variable; other NEOs ~79% variable at target; plan balances EBITDA and cash flow (short-term) with rTSR and ROIC (long-term). Governance practices include no hedging/pledging, minimum vesting, and clawbacks .
- Role-specific target comp (from 8-K) implies a predominantly variable/equity profile: $550k salary + 80% AIP target + $1.4m LTI for 2026, indicating strong alignment with performance and retention via 3-year cliffs .
Say-on-Pay & Shareholder Feedback
- Say-on-Pay support: ~85.9% approval at the 2024 annual meeting for the 2023 program, with ongoing shareholder engagement cited by the Compensation Committee .
Investment Implications
- Compensation alignment: Strong emphasis on profitability (Adjusted EBITDA), cash generation, safety/stewardship, and capital efficiency (ROIC), with long-term rTSR overlay. For an operations leader overseeing resources, manufacturing, capex, and supply chain, incentives appear well-aligned to value drivers and capital deployment discipline .
- Retention and selling pressure: 3-year cliff structures and prohibition on pledging/hedging mitigate near-term selling pressure; watch for concentrated liquidity windows around expected 1Q 2029 vestings and 10b5-1 activity disclosures .
- Change-in-control protections: Double-trigger, no excise tax gross-up, and 2x multiple framework (for non-CEO NEOs) suggest market-standard protections without shareholder-unfriendly features (e.g., single-trigger, repricing) .
- Execution focus: Track delivery on cash flow and ROIC outcomes under COO purview (supply chain, capex execution, resource optimization) given AIP/LTI metric design; these are the levers most likely to influence incentive payouts and insider behavior .