Travis Johnson
About Travis Johnson
Travis B. Johnson is Executive Vice President & Chief Financial Officer of Amentum Holdings (AMTM). He joined Amentum in 2023 after senior finance and chief accounting officer roles at CACI, FLIR Systems, KeyW, and finance leadership positions at Leidos, beginning his career at RSM; he holds a BBA from James Madison University and an MBA from the University of Maryland and is both a CPA and Certified Fraud Examiner . Company performance during FY2024 (pre-spin combined context) included GAAP revenues of $8.4B (+7% y/y), GAAP net loss of $82M, pro forma revenues of $13.9B (+4%), pro forma adjusted EBITDA of $1,052M (+7%) and margin of 7.6% (+20 bps); TSR is not yet comparable for 2024 as shares began trading in FY2025 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Amentum | EVP & Chief Financial Officer | Since 2023 | Leads corporate finance, capital markets, IR, FP&A, accounting post-spin integration |
| CACI International | SVP, Corporate Controller & Chief Accounting Officer | Not disclosed | Led controllership and SEC reporting at large gov’t services peer |
| FLIR Systems | VP & Chief Accounting Officer | Not disclosed | Oversaw accounting at sensor/defense tech company |
| KeyW Corporation | Chief Accounting Officer | Not disclosed | Built public company accounting rigor; defense/Intel focus |
| Leidos | Finance and accounting leadership roles | Not disclosed | Finance leadership in large gov’t contractor |
| RSM | Public Accountant | Not disclosed | Foundation in audit and controls |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Not disclosed in company filings | — | — | — |
Fixed Compensation
| Metric | FY2024 | FY2025 |
|---|---|---|
| Base Salary (target) ($) | $580,000 | $650,000 |
| Base Salary (paid, Summary Comp) ($) | $571,923 | — |
| STIP Target (% of Base) | 100% | 100% |
| STIP Target ($) | $572,521 | $650,000 |
| STIP Actual Payout (% of Target) | 150% (committee adjustment for integration contributions) | — |
| STIP Actual Paid ($) | $858,781 | — |
| Perquisites and Other ($) | $32,945 (401k $15,940; medical/wellness $8,300; premiums $6,955; exec perq $1,750) | — |
Performance Compensation
| Program | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| FY2024 STIP | STI Adjusted EBITDA ($MM) | 75% | $629 | Company payout calibrated at 106% | 106% company; Johnson paid 150% of target | Cash after FY end |
| FY2024 STIP | DSO (Days) | 25% | 64.0 | Company payout calibrated at 106% | 106% company; Johnson paid 150% | Cash after FY end |
| FY2024 STIP | EBITDA Threshold/Max | — | $566 / $755 | — | — | — |
| FY2024 STIP | DSO Threshold/Max (Days) | — | 70.4 / 51.2 | — | — | — |
| FY2025 STIP | Adjusted EBITDA | 65% | Not disclosed | Not disclosed | Not disclosed | Cash after FY end |
| FY2025 STIP | DSO | 20% | Not disclosed | Not disclosed | Not disclosed | Cash after FY end |
| FY2025 STIP | Net Debt Reduction | 15% | Not disclosed | Not disclosed | Not disclosed | Cash after FY end |
| 2025–2027 PSUs | 3-yr Cumulative Adjusted EBITDA | 50% | Not disclosed | Not disclosed | Not disclosed | Vests at 3 years |
| 2025–2027 PSUs | 3-yr Cumulative Free Cash Flow | 50% | Not disclosed | Not disclosed | Not disclosed | Vests at 3 years |
| FY2025 RSUs | Time-based RSUs | 50% of LTI mix | $1,000,000 value | — | — | Ratable over 3 years |
| FY2025 LTI | Annual target LTI mix (Johnson) | — | PSUs $1,000,000; RSUs $1,000,000 | — | — | As above |
| FY2025 Launch Grant (RSUs) | Ownership/retention RSUs | — | $750,000 value | — | — | 50% at 18 months; 50% at 3 years from 11/6/2024 |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership (12/20/2024) | 0 shares; “—%” of 243,302,257 shares outstanding |
| Vested vs unvested shares (FY-end) | No outstanding RSUs/options as of 9/30/2024 for Johnson |
| Options | None granted or outstanding; no option awards reported |
| Launch RSUs (11/6/2024) | $750,000 RSUs; vest 50% at 18 months and 50% at 3 years from grant |
| Stock ownership guidelines | 3x base salary for executive officers; 5 years to comply from 9/27/2024 or hire date |
| Compliance status | Not disclosed |
| Hedging/pledging | Prohibited (no hedging, pledging, margin accounts; insider trading restrictions) |
| Clawbacks | Mandatory recoupment of incentive comp upon accounting restatement (10D/NYSE 303A.14) |
Employment Terms
- Agreement: Employment agreements effective at the 9/27/2024 closing for Heller, Demetriou, Arnette, and Johnson; for Johnson: sets base salary, target bonus, LTI eligibility, benefits, and severance terms . Initial term two years from closing; auto-renews for one-year terms unless notice; restrictive covenants include non-compete, non-solicit, confidentiality .
- Severance (without Cause / for Good Reason): Accrued rights + 1.5x (base salary + average bonus of prior up to three years) paid over 18 months; prorated bonus based on actuals; COBRA medical/dental premiums; monthly cash gross-up for life insurance; financial planning stipend; outplacement .
- Change-in-Control Severance Plan: CIC period = 3 months before to 24 months after a change-in-control; CIC multipliers: 2x for Executive Chair/CEO; 1.5x for CFO/COO; 1x for others; includes prorated target bonus, benefit payments, and full equity acceleration with performance deemed at target for unvested awards .
- Potential Payments (illustrative, assuming event on 9/27/2024): For Johnson—Death/Disability: $1,158,781 (prorated bonus $858,781; LTD $300,000) . Qualifying termination on/after CIC: Cash severance $2,107,785; prorated bonus $858,781; benefits continuation $137,620; outplacement $15,000; total $3,119,186 (no equity acceleration shown as of that date) . Involuntary termination (no CIC): Cash severance $2,107,785; prorated bonus $858,781; benefits continuation $137,620; outplacement $15,000; total $3,119,186 .
- Tax treatment: No excise tax gross-ups; cut-to-avoid if beneficial; Section 409A timing protections .
Investment Implications
- Pay-for-performance alignment: Johnson’s pay mix emphasizes variable incentives and multi-year equity with PSU metrics tied to cumulative adjusted EBITDA and FCF, and STIP focused on EBITDA, DSO, and deleveraging—aligning compensation to profitability, working capital discipline, and balance sheet improvement . His FY2024 bonus was increased to 150% of target recognizing integration and transaction execution, signaling board confidence in his contribution to value creation during the spin-merger .
- Retention and selling pressure: Zero beneficial ownership reported at 12/20/2024, with ownership guidelines requiring 3x salary over five years; 2024 launch RSUs vest on 18-month and 3-year schedules, creating future vest events but hedging/pledging bans reduce misalignment and forced selling risk; equity acceleration applies under CIC, which could increase supply at a change-in-control .
- Change-of-control economics: CFO severance at 1.5x salary-plus-bonus with benefits and equity acceleration in CIC represents moderate protections; illustrative CIC total for Johnson was $3.12M at the assumed date (no equity value as of that date), indicating manageable parachute size relative to peers and limited gross-up exposure .
- Execution backdrop: Company’s pro forma revenue growth (+4%) and adjusted EBITDA growth (+7%) with margin expansion in FY2024 set performance baselines for Johnson’s FY2025 targets, but GAAP net loss underscores continued need for cash flow discipline and deleveraging embedded in his incentive design . TSR comparability begins post-listing in FY2025, so near-term assessment will rely on fundamental metrics embedded in comp plans .