Weston Heide
AndersonsAbout Weston Heide
Weston S. Heide is Executive Vice President, Agribusiness at The Andersons (effective January 1, 2025). He joined the company in 2019 via the Lansing Trade Group acquisition and previously served as SVP, Trade & Processing (2023) and VP, Trade (2019). He is 51 years old and leads businesses spanning commodity merchandising, grain assets, specialty ingredients, and operations/safety; his background includes more than 15 years in agribusiness with corporate and commercial roles and prior experience at Deloitte; education disclosures indicate a bachelor’s degree (Trinity University) and an MBA with study at UC Berkeley and Columbia University . Company performance context: long-term company TSR from 12/31/2019 to 12/31/2024 equaled $178 per $100 initial investment ; 2024 segment results included Renewables pretax income of $139.5M and company net income of $114.0M .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| The Andersons | Executive Vice President, Agribusiness | 2025–present | Leads unified Agribusiness segment formed from Trade and Nutrient & Industrial to streamline operations and drive growth . |
| The Andersons | Senior Vice President, Trade & Processing | 2023–2024 | Led commodity merchandising, grain handling assets, specialty ingredients, operations/safety, and UK-based Feed Factors . |
| The Andersons | Vice President, Trade | 2019–2022 | Post-Lansing acquisition integration, commercial leadership across merchandising and assets . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| The Andersons Canada Limited | President | 2025 | Subsidiary leadership and financing signatory on Canadian asset-based revolver (Scotiabank-led) . |
| Bridge Agri Partners Inc. | Vice President | 2025 | Subsidiary officer and financing signatory for Canadian operations . |
Fixed Compensation
- Individual base salary, target bonus, and LTI grant values for Mr. Heide are not disclosed in the 2025 proxy; he is not listed among 2024 NEOs .
- Company-wide executive compensation structure features base salary plus Annual Incentive Plan (AIP) with pretax income and ROIC metrics; LTI delivered via RSUs and EPS-based PSUs with relative TSR modifier; clawback (Dodd-Frank 954), minimum one-year vesting, no hedging or pledging, and no option repricing .
- Stock ownership guidelines require Executive Vice President – Business Segment Lead to maintain ownership equal to 2x salary; officers must retain at least 75% of net shares from awards until compliant; hedging and pledging are prohibited .
Performance Compensation
| Incentive Type | Metric | Weighting | 2024 Target | 2024 Actual | Payout Design | Vesting/Timing |
|---|---|---|---|---|---|---|
| Annual Incentive Plan (Company) | Pretax Income | Company design for NEOs: 67% | $140,000k | $147,941k | Threshold at $60,000k (43% of target); Max ~$200,000k (143% of target); formula capped at 200% of target with discretionary ±20% . | Cash, paid following fiscal year . |
| Annual Incentive Plan (Company) | ROIC | Company design for NEOs: 33% | 8.5% | 8.8% | Threshold 6.0% (Company), Max 10.0%; similar cap and discretionary rules as AIP . | Cash, paid following fiscal year . |
| Performance Share Units (2022 grant, performance period ended 12/31/2024) | 3-year cumulative EPS (adjusted) | 50% (legacy design) | Target set at grant; recent period actual: $10.93 adjusted EPS | 200% of Target PSU value earned | PSU payout based on cumulative EPS, adjusted for non-recurring items . | Vests and delivers Jan 2 following period; dividend equivalents delivered on earned shares . |
| Performance Share Units (2022 grant, performance period ended 12/31/2024) | Relative TSR vs Russell 3000 | 50% (legacy design) | Target = index TSR | Company TSR 7.91% vs Russell 3000 9.57% → 91.71% of Target | Composite outperformance schedule with caps; negative TSR limits payouts . | Vests and delivers Jan 2 following period; dividend equivalents delivered on earned shares . |
| Performance Share Units (2024 grant, performance period ends 12/31/2026) | 3-year cumulative EPS with TSR modifier | Single PSU award; TSR modifier ±20% | EPS Threshold $9.09; Target $11.81; Max $14.17 | In-progress | TSR rank modifier 80–120% scale vs agribusiness peer set . | Vests after 3-year period; service and performance conditions . |
Note: Mr. Heide’s specific AIP weighting, targets, and payouts are not disclosed; the table summarizes Company programs and recent outcomes applicable to NEOs and executive awards .
Equity Ownership & Alignment
- Ownership guidelines: EVP segment lead must hold 2x salary; 75% share retention until compliant; hedging/pledging prohibited .
- 2019–2024 plan design emphasizes PSUs linked to EPS and TSR, aligning pay with long-term value creation; RSUs vest over three years with dividend equivalents .
Insider trading and potential selling pressure:
| Filing | Plan | Date | Transaction | Shares | Price | Proceeds | Notes |
|---|---|---|---|---|---|---|---|
| Form 144/A | Rule 10b5-1 plan adoption date | 03/21/2024 | Notice of proposed sale | 800 | $48.00 | $38,400 | Amended filing on 02/20/2025; remarks clarified plan not amended . |
| Form 144/A | — | 11/22/2024 | Prior sale disclosed | 400 | $48.00 | $19,200 | Seller listed as officer; shares acquired via restricted stock vesting on 01/02/2019 . |
- No pledging or hedging is allowed under Company policy, mitigating misalignment risks .
- Beneficial ownership amounts for Mr. Heide are not presented in the 2025 proxy’s officer table (NEOs and directors only); thus % ownership cannot be computed from proxy disclosures .
Employment Terms
- Company policies: executive compensation clawback (SEC/Nasdaq 954), minimum one-year vesting on LTIs, prohibition on single-trigger vesting upon change-in-control, and no excise tax gross-ups; outplacement and healthcare continuation are provided under severance arrangements .
- Severance and change-in-control economics are explicitly disclosed for NEOs (e.g., 1x salary+target bonus for qualifying termination; 2x salary+target bonus and accelerated vesting at target on PSUs under change-in-control), but Mr. Heide’s specific agreement is not disclosed in the proxy .
- Insider trading policy filed with 10-K; share retention and ownership compliance requirements apply broadly to officers .
Performance & Track Record
Company performance context relevant to Agribusiness leadership:
- FY2024 highlights: Company net income attributable to common shareholders from continuing operations $114.0M; Renewables pretax income $139.5M; Trade pretax income $91.4M .
- AIP results: Company pretax income actual $147.9M vs $140.0M target; Company ROIC 8.8% vs 8.5% target .
- 3Q25 segment narrative: Agribusiness gross profit improved YoY on Skyland acquisition despite merchandising softness; increased operating expenses tied to acquisition; nine-month Agribusiness gross profit up $30.7M YoY; details on trade flows, capacity, and margin expectations .
- Long-term pay-for-performance: 3-year EPS PSU cycles (ending 2022–2024) paid 200% of target; TSR-based PSU payout for 2024 cycle at ~92% of target .
- Company TSR from 12/31/2019 to 12/31/2024: $178 on $100 initial investment .
Company Financials (context for pay-for-performance)
| Metric (USD) | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|
| Revenues | $12,612,050,000* | $17,325,384,000* | $14,750,112,000* | $11,257,548,000* |
| EBITDA | $326,745,000* | $361,350,000* | $378,209,000* | $320,510,000* |
*Values retrieved from S&P Global via GetFinancials.
Governance, Ownership Guidelines, and Policies
| Policy | Key Terms |
|---|---|
| Stock Ownership & Retention | EVP segment lead: 2x salary; retain 75% of net shares until compliant; directors 5x retainer; prohibition on hedging/pledging . |
| Clawback | Mandatory recovery of erroneously awarded incentive comp upon restatement; adopted in 2023 per SEC/Nasdaq rules . |
| LTI Plan Protections | Minimum one-year vesting; no automatic single-trigger on CIC; no option repricing below fair value without shareholder approval . |
| Insider Trading Policy | Company-wide policy filed with 10-K; aligns with governance and listing standards . |
Investment Implications
- Alignment: Strong governance design (clawback, no hedging/pledging, ownership guidelines) and PSU emphasis on EPS with TSR modifier support pay-for-performance and shareholder alignment; modest insider activity (small Rule 144 sales under 10b5-1) suggests low near-term selling pressure .
- Execution risk: Agribusiness faces merchandising softness and higher costs tied to Skyland integration; near-term margin recovery depends on elevation margins and trade flows; Heide’s operational leadership across assets/merchandising is central to improving ROIC and pretax income against wider ranges set for a commodity-based business .
- Retention risk and economics: Specific severance/CIC terms for Mr. Heide are not disclosed (NEO-only disclosure), but corporate policies mitigate excessive payouts and excise tax gross-ups; ownership retention requirements bolster “skin-in-the-game” .
- Trading signals: The disclosed 10b5-1 plan adoption and small proposed sales are routine and not indicative of significant selling pressure; monitor future Forms 4 and 144s for pattern changes .