Helmut Pirthauer
About Helmut Pirthauer
Helmut D. Pirthauer, age 55, is Vice President & President of Allient Dynamos Group; he joined Allient as CEO of the Heidrive Group after Allient acquired Heidrive in January 2016 and was named Group President in July 2020 . His recent compensation is Euro-based with a fixed-term employment agreement through December 31, 2027, and his pay design uses EVA-based annual cash incentives; he did not participate in Allient’s PSP or XSIP in 2024, relying primarily on time-based restricted stock for equity compensation . Company performance context during his current tenure shows Q3 2025 revenue up 11% year over year to $138.7M, EBITDA of $18.1M vs $12.6M in Q3 2024, and nine-month 2025 EBITDA of $49.8M vs $42.4M in 2024, with adjusted EBITDA rising similarly, reflecting improvements in volume, mix, and operational actions .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Heidrive GmbH | Chief Executive Officer | 2013–2016 | Led Heidrive prior to and through Allient’s acquisition; progressed to CEO in Jan 2013 . |
| Allient (Heidrive Group) | Chief Executive Officer | 2016–2020 | CEO of Heidrive Group post-acquisition until named Group President in July 2020 . |
| Heidrive GmbH | Director of Sales and Technical Development | 2007–2013 | Senior commercial/technical leadership prior to CEO promotion . |
| Heidrive GmbH | Leader of Sales Department | 2003–2007 | Led sales function before moving into broader technical and sales leadership . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| IHP (engineering consulting) | Founder | Since Aug 1996 | Founded IHP; consulted to Heidolph from Jan 1997 . |
| Heidolph GmbH & Co. KG | Group Leader, Customer Applications | Not disclosed | Held leadership role; also served as consultant via IHP from Jan 1997 . |
Fixed Compensation
| Year | Base Salary (USD unless noted) | Target Bonus % | Actual Bonus Paid (USD) | Notes |
|---|---|---|---|---|
| 2024 | $351,681 | 40% of base salary (Company plan) | $142,126 | Bonus under EVA-based Annual Cash Incentive Plan . |
| 2023 | $351,517 | Not disclosed | $139,657 | |
| 2022 | $321,433 | Not disclosed | $127,737 | |
| 2024 contract (EUR) | €325,000 | Target cash bonus €126,000 | N/A | Contractual schedule (see Employment Terms) . |
| 2025 contract (EUR) | €360,000 | 40% of base salary | N/A | Contractual schedule . |
| 2026 contract (EUR) | €408,000 | 45% of base salary | N/A | Contractual schedule . |
| 2027 contract (EUR) | €432,000 | 45% of base salary | N/A | Contractual schedule . |
Performance Compensation
| Incentive Type | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Annual Cash Incentive Plan | Economic Value Added (EVA) | Not disclosed | Target set annually by Board; President, Dynamos Group target bonus = 40% of base salary | Not disclosed | $142,126 (FY2024) | Cash; paid annually . |
| Performance Share Plan (PSP) | Adjusted EBITDA (95% threshold; 105% high) | Not disclosed | Annual EBITDA target = 3-year average adjusted EBITDA | Not applicable for Pirthauer in 2024 | N/A | Earned PSP shares vest over 3 years (not a participant in 2024) . |
| Executive Stock Incentive Plan (XSIP) | Revenue growth (multi-year; e.g., 33.3% consolidated by 2027) | Not disclosed | Multi-year revenue targets by company and unit | No shares earned for 2024 company goals | N/A | Vests over 2 years after year earned; U.S.-based executives participate (Pirthauer not in 2024 grants) . |
| Time-Based Restricted Stock | Service-based only | N/A | 2,346 shares granted 03/07/2024 | N/A | Grant-date fair value $70,380 | Vests in three equal annual installments beginning April 2025 . |
Equity Ownership & Alignment
- Ownership guidelines require Group Presidents to hold stock equal to 3x base salary; the company states each requirement has been met, implying Pirthauer is in compliance .
- Hedging and pledging of company stock are prohibited under Allient’s insider trading policy, reducing misalignment risk and collateral-driven selling pressure .
| Beneficial Ownership (as of Mar 12, 2025) | Shares | Citation |
|---|---|---|
| Common Stock (direct/indirect) | 38,137 | |
| Unvested Restricted Stock | 7,261 | |
| Total Beneficial Ownership | 45,398 | |
| Shares Outstanding (Record Date) | 16,948,472 | |
| Ownership as % of Outstanding | ~0.27% (45,398 / 16,948,472) computed from cited values |
| Outstanding Equity Awards (as of Dec 31, 2024) | Shares | Market Value ($) | Vesting Detail |
|---|---|---|---|
| Time-Based Restricted Stock (Unvested) | 4,103 | $99,621 (at $24.28) | 1,997 in 2025; 1,324 in 2026; 782 in 2026 (per company table) . |
| PSP (Unearned) | — | — | Not a PSP participant in 2024 . |
| Stock Vested in 2024 | Shares | Value Realized |
|---|---|---|
| Restricted Stock | 1,929 | $66,415 |
- Options: No options were owned or exercised by Named Officers in 2024 .
Employment Terms
- Term: Employment agreement effective through December 31, 2027; company may not terminate prior to that date without cause .
- Base salary schedule and target bonus: €325,000 (2024; target bonus €126,000), €360,000 (2025; 40%), €408,000 (2026; 45%), €432,000 (2027; 45%) .
- Post-2027 termination notice: After 12/31/2027, if notice given Jan 1–Jun 30, agreement ends at year end; if notice Jul 1–Dec 31, ends at end of sixth full month after notice .
- Severance: Involuntary termination without cause after 12/31/2027 entitles severance equal to 1.5 years’ base salary .
- Disability: Entitled to base salary for the lesser of six months or termination of his employment agreement; immediate vesting of outstanding time-based awards under the 2017 Omnibus Incentive Plan .
- Change-of-control: Company tables show that for Pirthauer the modeled CiC termination payout is limited to cash severance; no accelerated equity or healthcare benefits listed in the CiC scenario table (total modeled at $511,047 as of 12/31/2024) .
- Clawback: Board-adopted policy compliant with SEC Rule 10D-1 and NASDAQ Rule 5608 provides mandatory recovery of erroneously awarded incentive-based compensation for the prior three fiscal years upon a material restatement, irrespective of misconduct .
- Forfeiture/Non-compete provisions: Annual incentive and equity award agreements contain recoupment, non-compete, and other forfeiture provisions .
Compensation Structure Analysis
- 2024 pay mix: For Pirthauer, fixed pay includes base salary plus time-based RSUs; variable pay came from the EVA-based annual cash incentive; he did not participate in PSP or XSIP in 2024, indicating a heavier tilt toward time-based equity vs performance shares relative to U.S.-based peers .
- Time-based RSU vesting cadence: Three equal installments beginning April 2025 creates predictable annual vesting windows that can correlate with periodic net share settlement-related withholding, though no individual Form 4 transactions are disclosed here .
- Cash bonus sensitivity: Annual bonus is formulaic to EVA at the business unit/consolidated level, aligning near-term payouts to profitability, operating efficiency, and capital discipline .
Related Party Transactions
- Facility leases: Allient leases certain facilities from a company in which Pirthauer is a part owner; payments were approximately $645,000 during FY2024, with future minimum lease payments of approximately $5,035,000, which the company states are comparable to third-party terms .
- Section 16 filings: The company notes Form 4s were filed late due to a clerical delay; otherwise Section 16(a) compliance was met for 2024 .
Performance & Track Record
- Company operating momentum in latest quarter: Q3 2025 revenue $138.7M (+11% YoY), gross margin 33.3% (vs 31.4%), operating income $12.2M (+84% YoY), adjusted EBITDA $20.3M (vs $14.4M) .
- Nine-month context: 2025 adjusted EBITDA $57.8M vs $48.4M in 2024; adjusted EPS $1.62 vs $1.17, with incentive compensation noted as a factor in certain expense lines .
- Strategic programs: Management highlights “Simplify to Accelerate NOW” as driving mix and operational improvements and restructuring costs, a backdrop to incentive plan outcomes .
Compensation Committee Analysis
- Committee composition: Human Capital and Compensation Committee members are independent directors Robert B. Engel, Richard D. Federico, Steven C. Finch, and Nicole R. Tzetzo; no interlocks or insider participation disclosures beyond independence .
- Use of independent consultant: The Committee uses an independent compensation consulting firm with minimal other services to the company .
- Say-on-pay: 95.9% shareholder support for executive compensation at the May 8, 2024 annual meeting; Committee continues to review alignment and strategy .
Equity Ownership & Alignment Guidelines
- Officer ownership multiples: CEO 5x base salary; CFO and Group Presidents 3x; all officers have met their requirements .
- Hedging and pledging: Prohibited for directors and officers, lowering misalignment and forced selling risk .
Employment Terms Summary Table
| Term Component | Provision | Citation |
|---|---|---|
| Contract Term | Effective through 12/31/2027; non-terminable without cause until then | |
| Base Salary Schedule | €325k (2024), €360k (2025), €408k (2026), €432k (2027) | |
| Target Bonus | €126k (2024); 40% (2025); 45% (2026); 45% (2027) | |
| Severance (post-2027) | 1.5x base salary if involuntary termination without cause | |
| Disability | Base salary for lesser of six months or termination; immediate vesting of time-based awards | |
| CiC | Modeled payout table shows cash severance only; no accelerated equity or healthcare benefits for Pirthauer | |
| Post-term notice | Termination timing depends on notice window (Jan–Jun vs Jul–Dec) | |
| Clawback | Mandatory recovery for restatements under SEC/NASDAQ rules | |
| Hedging/Pledging | Prohibited for insiders |
Investment Implications
- Alignment vs performance: Pirthauer’s 2024 equity was time-based rather than performance-based (no PSP/XSIP participation), softening direct equity linkage to operating targets; his cash incentive remains tightly tied to EVA, preserving near-term performance alignment .
- Retention and supply: Three-year RSU vesting starting April 2025 creates annual vest windows; contractual non-terminability until 12/31/2027 reduces involuntary turnover risk but also limits flexibility; severance is modest at 1.5x base .
- Governance red flags: Related-party lease arrangements with ~$645k paid in 2024 and ~$5.0M future minimums warrant monitoring for fairness despite Board’s comparability assertion; late Section 16 filings noted as clerical .
- Selling pressure mitigants: Hedging and pledging prohibitions and officer ownership guideline compliance reduce misalignment and collateral-driven selling risk; however, annual vesting and tax-withhold settlements can still create predictable episodic supply .
- Company performance backdrop: Improved revenue, margins, and adjusted EBITDA in 2025 underpin incentive realizations; continued execution on restructuring and operational programs will influence EVA outcomes and cash incentives .