Robert Ball
ABERCROMBIE & FITCH CO /DE/About Robert Ball
Robert J. Ball, age 45, was appointed Senior Vice President and Chief Financial Officer of Abercrombie & Fitch Co. on November 20, 2024, after more than two decades in finance roles at ANF; he holds a Business Administration degree in Finance and Accountancy from the University of Michigan . During Fiscal 2024, the company achieved record net sales of $4.95 billion, operating income of $741 million, and a 15% operating margin, exceeding Investor Day 2025 targets—a backdrop for his CFO transition . ANF’s executive pay design emphasizes at-risk compensation linked to Adjusted EBIT, Constant Currency Net Sales, and multi-year PSAs tied to average Adjusted EBIT margin and relative TSR (target at 55th percentile) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Abercrombie & Fitch Co. | SVP, Corporate Finance, IR & Treasury | 2023–2024 | Led corporate finance, investor relations, and treasury ahead of CFO promotion |
| Abercrombie & Fitch Co. | Group VP, Corporate Finance & Transformation Mgmt Office | 2022–2023 | Managed corporate finance and transformation program |
| Abercrombie & Fitch Co. | Group VP, Corporate Finance | 2021–2022 | Oversaw corporate finance |
| Abercrombie & Fitch Co. | VP, Corporate Finance | 2018–2021 | Senior finance leadership across corporate functions |
| Abercrombie & Fitch Co. | CFO, Abercrombie & Fitch and abercrombie kids brands | 2014–2018 | Brand-level finance leadership |
| Abercrombie & Fitch Co. | Various roles in reporting, FP&A, real estate accounting | 2003–2014 | Progressive finance responsibilities |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Merrill Lynch | Financial Advisor | Pre-2003 | Early-career financial advisory experience |
Fixed Compensation
| Component | Period | Value |
|---|---|---|
| Base Salary (in effect upon CFO promotion) | Fiscal 2024 | $500,000 |
| Actual Salary Paid | Fiscal 2024 | $417,308 |
| Target Bonus % (Short-Term Cash Incentive Plan) | Fiscal 2025 | 60% of base salary |
| All Other Compensation (total) | Fiscal 2024 | $20,208 |
| 401(k) Company Contributions | Fiscal 2024 | $18,669 |
| Life & Long-Term Disability Premiums | Fiscal 2024 | $1,539 |
Performance Compensation
| Metric | Season Weighting | Weighting | Threshold | Target | Maximum | Actual | Payout % |
|---|---|---|---|---|---|---|---|
| Adjusted EBIT ($MM) | Spring (40%) | 70% | 110 | 174 | 238 | 342 | 200% |
| Constant Currency Net Sales ($MM) | Spring (40%) | 30% | 1,850 | 1,940 | 2,000 | 2,155 | 200% |
| Adjusted EBIT ($MM) | Fall (60%) | 70% | 277 | 413 | 517 | 486 | 172% |
| Constant Currency Net Sales ($MM) | Fall (60%) | 30% | 2,425 | 2,560 | 2,700 | 2,794 | 200% |
| Weighted Average Annual Payout | — | — | — | — | — | — | 188% |
| Individual Annual Incentive Outcome | Period | Value |
|---|---|---|
| Non-Equity Incentive Paid | Fiscal 2024 | $339,930 (based on pre-CFO target) |
| Long-Term Incentives | Grant Date | Instrument | Target Shares/Value | Vesting/Measurement |
|---|---|---|---|---|
| Annual LTI mix | Fiscal 2024 | 50% PSAs / 50% RSUs | N/A | Balanced performance/time-based mix |
| RSUs | 3/12/2024 | RSUs | 2,074 units; $250,041 | Vests in 4 equal annual installments starting 1-year from grant (CFO schedule) |
| PSAs (FY2024–FY2026 cycle) | 3/12/2024 | PSAs | Target 2,074; Max 4,148; Fair value at max $291,625 | Metrics: Avg Net Sales Growth (33.33%), Avg Adjusted EBIT Margin (33.33%), Relative TSR (33.34%); target TSR at 55th percentile; payout 25–200% |
Equity Ownership & Alignment
| Item | As of | Amount |
|---|---|---|
| Total Beneficial Ownership (direct/indirect) | April 14, 2025 | 6,934 shares; <1% of class |
| Unvested RSUs (by grant) | Feb 1, 2025 | 669 (3/23/2021) |
| 1,560 (3/22/2022) | ||
| 1,995 (7/15/2022) | ||
| 3,703 (3/7/2023) | ||
| 2,074 (3/12/2024) | ||
| Unearned PSAs (FY2024–FY2026 cycle) | Feb 1, 2025 | 4,148 units (max basis shown in table) |
| Market Value Basis Used | Jan 31, 2025 | $119.38 per share (closing price) |
| Ownership Guidelines | Current | 3x base salary for executive officers; CEO 6x; directors 5x annual retainer |
| Guideline Compliance Status | Fiscal 2024 review | All executive officers and directors satisfied/on track/otherwise compliant |
| Hedging/Pledging | Policy | Hedging and pledging prohibited; insider trading policy prohibits hedging |
| Stock Options | Current | Company does not grant options currently; none shown outstanding for Ball |
| Form 4 Activity | 2024–2025 search | No Form 4s located in our search window [SearchDocuments: Form 4 query returned none] |
Employment Terms
| Provision | Key Terms |
|---|---|
| Executive Severance Agreement (effective 11/20/2024) | Term continues until terminated by either party; extends to 18 months post-change-of-control; includes non-compete (12 months) and non-solicit (24 months), non-disparagement, confidentiality |
| Termination without cause / for good reason (outside CoC window) | 18 months base salary continuation; pro-rated bonus based on actual performance; 18 months COBRA premium reimbursement; equity per award terms |
| Change-of-control (double-trigger) | Lump-sum 18 months base salary; lump-sum 1.5x target bonus; 18 months COBRA premium reimbursement; equity per award agreements; applies if terminated without cause or for good reason within 3 months before or 18 months after CoC |
| Indemnification | Standard indemnification agreement covers expenses (fees, judgments, fines, settlements) arising from officer service |
| No multi-year employment agreements | ANF avoids employment agreements guaranteeing employment; uses severance agreements |
| Clawbacks | Dodd-Frank-compliant mandatory recoupment for restatements; enhanced voluntary clawbacks for cause-related triggers; plan-level clawbacks across incentive plans, including time-based equity |
| Double-trigger vesting policy | Double-trigger equity vesting upon change-of-control with qualifying termination; PSAs pro-rated by performance if >50% of period elapsed or at target if <50% |
| Illustrative Potential Payments (as of Feb 1, 2025) | Scenario | Cash Severance | COBRA | Equity Value | Retirement Plan Value | Total |
|---|---|---|---|---|---|---|
| Robert J. Ball | Involuntary Termination (Without Cause) | $1,089,930 | $30,838 | $165,063 | $1,315,825 | $2,601,656 |
| Robert J. Ball | Death/Disability | — | — | $1,689,108 | $1,315,825 | $3,004,933 |
| Robert J. Ball | Change-of-Control (Double-Trigger) | $1,200,000 | $30,838 | $1,358,982 | $1,315,825 | $3,905,645 |
Deferred Compensation
| Item | Fiscal 2024 | Balance as of Feb 1, 2025 |
|---|---|---|
| Executive Contributions | $46,208 | $360,028 |
| Aggregate Earnings | $15,978 | — |
Investment Implications
- Pay-for-performance design is robust: annual bonuses tied to Adjusted EBIT (70%) and Constant Currency Net Sales (30%) with seasonal weighting; FY2024 payout at 188% reflects exceptional performance, while PSAs align three-year outcomes with sales growth, profitability, and relative TSR at market-standard thresholds .
- Retention risk appears contained near term: severance protections and double-trigger CoC terms provide stability; RSU schedules extend through 2028 for 2024 grants, and PSAs run through FY2026, creating ongoing equity stakes; hedging/pledging prohibitions and 3x salary ownership guideline further align interests .
- Trading signals: annual RSU vesting and PSA settlements can create periodic supply; no disclosed Form 4 sales found in 2024–2025 search window (monitor future filings ahead of vest dates); strong 2024 fundamentals (record sales and margins) underlie incentive achievement but future payouts depend on sustained performance vs targets and peer TSR [SearchDocuments: Form 4 query returned none] .
- Governance support: 2024 Say-on-Pay received 97.1% approval; program includes Dodd-Frank clawbacks and bans excise tax gross-ups, option repricing, and pledging—reducing red-flag risk .