Thomas Montgomery
AMETEK INC/About Thomas Montgomery
Thomas M. Montgomery, 62, is Senior Vice President, Comptroller and Principal Accounting Officer (PAO) of AMETEK; he has 41 years of service as of March 1, 2025 and will retire effective January 1, 2026, remaining as a Senior Advisor through 2026 . As PAO, he signs AMETEK’s periodic reports (e.g., 2024 Form 10‑K and Q3 2025 Form 10‑Q) [edf01230: Form 10-K signature page] [38777331-10Q]. Company performance context for executive pay includes a 110% payout on 2022–2024 PRSUs driven by ROTC averaging 101% vs a 105% target (95% factor) and relative TSR at the 57.5th percentile (125% factor), implying sustained value creation (three‑year TSR +29.3%) . Say‑on‑pay approval has averaged ~95% over 10 years, reinforcing investor support for the pay model .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| AMETEK, Inc. | Senior Vice President – Comptroller & Principal Accounting Officer | 2016–2025 | Oversight of financial reporting/internal controls; Section 302/906 certification support; signatory on 10‑K/10‑Q as PAO [edf01230: Form 10-K signature page] [38777331-10Q] |
| AMETEK, Inc. | Senior Advisor (post-retirement) | 2026 | Continuity and knowledge transfer after planned retirement |
External Roles
- Not disclosed in company filings reviewed .
Fixed Compensation
- Not individually disclosed (Montgomery is not a 2024 Named Executive Officer in the proxy). AMETEK targets median market pay with a mix emphasizing at‑risk compensation, guided by peer/market data (Pay Governance; WTW database) .
Performance Compensation
Plan architecture applicable to senior executives (illustrative; company-wide design)
| Incentive | Metric | Why It’s Used | How Measured / Structure |
|---|---|---|---|
| Annual bonus (STIP) | Adjusted EPS | Links to shareholder returns | EPS adjusted for certain items; threshold/target/maximum with capped payouts |
| Organic Revenue Growth | Long-term health indicator | Actual vs prior-year revenue ex-acquisitions/FX | |
| Operating/Group Income | Operating discipline | Net sales less cost of sales and SG&A; may adjust for nonrecurring items | |
| Working Capital % | Cash/efficiency focus | Inventory + AR + unbilled − AP − advances as % of sales | |
| Discretionary (10–20%) | Strategic priorities | Quantitative/qualitative goals within set ranges | |
| Long-term (LTI) | PRSUs (50% for NEOs; CEO 55%) | ROTC and Relative TSR | 3‑year performance period; ROTC target 100% (60–120% range), TSR vs S&P 500 Industrials (30th–80th percentile) |
| Stock Options (25%) | Performance/retention | 3‑year ratable vesting; 10‑year term; grant at FMV | |
| RSAs/RSUs (25% NEOs; CEO 20%) | Retention/alignment | 3‑year ratable vesting; dividends accrue and pay on vest |
2024 performance context for senior executives (company metrics)
| Metric | Threshold | Target | Maximum | Actual Result | Notes |
|---|---|---|---|---|---|
| Adjusted EPS ($) | 5.48 | 6.85 | 7.54 | 6.83 | Used broadly; drove ~99% factor for CEO/CFO components |
| Organic Revenue Growth (%) | -1.60% | 3.40% | 8.40% | -2.10% | Company-level outcome in STIP tables |
| Corporate Working Capital (%) | 19.25% | 17.50% | 15.75% | 18.30% | CFO metric example |
| PRSU 2022–2024 payout | — | 100% | 200% | 110% | ROTC 95% factor; TSR 125% factor; blended 110% |
Note: Weightings and specific targets/payouts above are shown for Named Executive Officers; Montgomery’s individual weighting/targets are not disclosed .
Equity Ownership & Alignment
| Policy/Item | Details |
|---|---|
| Stock ownership guidelines | Apply to all executive officers; examples: CEO 6x base salary; CFO/Group Presidents 3x. Executives expected to reach guideline within 5 years. Unvested time‑based RSUs count; PRSUs and unexercised options do not . |
| Anti-hedging/anti-pledging | Officers and Directors are prohibited from hedging and from pledging AMETEK stock; no pledges by Directors/executive officers disclosed . |
| Clawback | NYSE-compliant recoupment policy adopted Nov 2, 2023; recovery of incentive compensation on restatement, regardless of fault, for the 3 prior fiscal years . |
| 10b5‑1 trading plans | No director or officer adopted/terminated Rule 10b5‑1 or non‑Rule 10b5‑1 arrangements in Q3 2025 [38777331-10Q]. |
| Beneficial ownership | Individual holdings for Montgomery not listed in the proxy; PAOs sign filings; executive officers as a group holdings disclosed, but not broken out for Montgomery [edf01230: Form 10-K signature page]. |
Employment Terms
| Topic | Terms / Evidence |
|---|---|
| Retirement/transition | Retires Jan 1, 2026; will serve as Senior Advisor through 2026; internal successor named (Robert J. Amodei, effective Jan 1, 2026) . |
| Change-of-control agreements | Detailed multiples disclosed for Named Executive Officers (e.g., 2.99x salary+bonus for most NEOs; CEO terms vary); no individual CoC agreement disclosure for Montgomery. Company equity plans define CoC similarly . |
| Equity acceleration (plan terms) | - PRSUs: on death/disability/CoC, vest at target upon certification; retirement provision for age 55+ and 10+ years (pro-rata based on performance) .<br>- Stock options: vest on retirement after age 65 (with service), death, disability, or termination following CoC .<br>- RSAs: vest on death/disability or termination following CoC . |
| Insider trading governance | Insider Trading and Information Policy; Section 16 filers responsible for Forms 3/4/5; company discloses insider transactions as required [edf01230: Form 10-K (policy excerpts)]. |
Insider Activity and Vesting/Supply Watch
- Form 4 filings for Thomas M. Montgomery indicate insider activity on:
- March 25, 2024 (Form 4)
- March 20, 2025 (Form 4)
- Grant/vest timing considerations (plan-level, applies broadly):
- Annual equity grants approved in Q1 on a pre‑scheduled date; 2024 awards dated March 19, 2024 for NEOs .
- RSAs vest one‑third annually on each of the first three anniversaries of grant; options vest one‑third annually over three years; PRSUs vest after the 3‑year performance period upon certification .
- This concentrates potential vest‑related withholding/transactions around March anniversaries (subject to blackout windows and policy) .
Investment Implications
- Pay-for-performance and alignment: Company-wide incentives emphasize Adjusted EPS, organic growth, working capital, and 3‑year PRSUs tied to ROTC and relative TSR; 2022–2024 PRSU payout at 110% and long-run say‑on‑pay ~95% support suggest strong alignment with shareholders .
- Selling pressure watch: Plan mechanics create seasonal vest/option-exercise windows in March; Montgomery filed Forms 4 in late March 2024 and March 2025; anti‑hedging/anti‑pledging and blackout rules reduce opportunistic trading risk .
- Retention/transition risk: Announced retirement with a year-long Senior Advisor role and named internal successor indicates low operational risk and controlled transition in the accounting function .
- Governance safeguards: Prohibitions on hedging/pledging, a NYSE-compliant clawback, and stock ownership guidelines for executive officers mitigate misalignment risks; no 10b5‑1 plan changes in Q3 2025 [38777331-10Q].
Citations:
- Executive listing, age, service:
- Retirement and successor:
- PAO signatures: 10‑K (Feb 20, 2025) [edf01230]; 10‑Q (Oct 30, 2025) [38777331-10Q]
- PRSU outcomes and TSR/ROTC:
- Say‑on‑pay support:
- STIP metrics/definitions and 2024 actuals:
- LTI design, grant/vest schedules:
- Ownership guidelines; anti‑hedging/pledging:
- Clawback:
- CoC agreements and equity acceleration provisions:
- Form 4 filings:
- 10b5‑1 arrangements: [38777331-10Q]