Brent C. Jewell
About Brent C. Jewell
Brent C. Jewell is President of Apogee’s Architectural Glass segment (effective Oct 18, 2023); he previously led the Architectural Framing Systems segment (AFS) since August 2019 and joined Apogee in 2018 as SVP, Business Development & Strategy . Prior to Apogee, he spent seven years at Valspar in senior roles and earlier held leadership positions in sales, marketing and general management at NewPage; education and age were not disclosed in company filings . During FY2025, company TSR was -14.65% annualized (5-year: 12.08%); consolidated net sales declined to $1.36B and operating margin fell to 8.7% (from 9.4%), while Glass segment operating income was $59.3M (prior year $68.0M) . Annual cash incentive metrics for Jewell in FY2025 emphasized profitability: Glass Segment Adjusted EBIT achieved 200% of target (despite Glass net sales below threshold), yielding a 123.38% of-target payout—highlighting execution on margins .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Apogee Enterprises – Architectural Glass | President | Oct 18, 2023 – present | Led Glass segment; delivered EBIT outperformance vs plan (200% of metric) amid softer segment sales |
| Apogee Enterprises – Architectural Framing Systems | President | Aug 2019 – Oct 2023 | Drove operational and financial improvements as part of enterprise strategy |
| Apogee Enterprises – Corporate | SVP, Business Development & Strategy | 2018 – 2019 | Led enterprise strategy and cross-business growth initiatives |
External Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Valspar | Senior leadership roles (General Industrial Americas; North America Wood Coatings) | 7 years (undisclosed dates) | Commercial and P&L leadership in coatings; relevant to Glass/Metals value chain |
| NewPage | Senior roles in sales, marketing, general management | Undisclosed | Commercial leadership in industrial materials; transferable operating experience |
Fixed Compensation
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Base Salary ($) | 425,192 | 449,231 | 453,615 |
| YoY Base Salary % | — | 3.99% | 2.71% |
| Target Bonus (% of Salary) | 60.00% | 60.00% | 60.00% |
Notes: FY labels per company fiscal year; percent increases per Compensation Discussion and Analysis tables .
Performance Compensation
Annual Cash Incentive – Plan Design and Results
| Category | FY2024 | FY2025 |
|---|---|---|
| Plan weightings | Consolidated Adjusted EBIT 25%; AFS Net Sales 25%; AFS Adjusted EBIT 50% | Consolidated Adjusted EBIT 25%; Glass Net Sales 25%; Glass Adjusted EBIT 50% |
| Threshold/Target/Max ranges | Bonus at 50%/100%/200% of target on goal attainment | Bonus at 50%/100%/200% of target on goal attainment |
| Actual performance vs goals | Consolidated Adjusted EBIT: 189.01%; AFS Net Sales and AFS Adjusted EBIT below threshold (no payout) | Consolidated Adjusted EBIT: 93.51%; Glass Net Sales below threshold (no payout); Glass Adjusted EBIT: 200% |
| Actual payout (% of target) | 47.25% | 123.38% |
| Actual payout ($) | $125,591 | $336,827 |
Detailed FY2025 metric table (Jewell):
- Consolidated Adjusted EBIT (25% weight): Actual $146.617M vs target $148.200M (93.51% achievement)
- Glass Segment Net Sales (25% weight): Actual $322.197M vs target $342.900M (below threshold)
- Glass Segment Adjusted EBIT (50% weight): Actual $59.389M vs max $59.000M (200% achievement)
Long-Term Incentives – Grants, Metrics, and Payouts
Grants and metrics (awarded in year shown):
| Item | FY2024 | FY2025 |
|---|---|---|
| Restricted Stock (# / $ grant date value) | 6,642 sh / $292,381 (annual) + 2,200 sh / $95,546 (reassignment grant on Oct 18, 2023) | 4,366 sh / $273,006 (grant price $62.53) |
| Performance Award – Target ($ as % of salary) | $132,900 (60% of salary); metric: average Adjusted ROIC FY2024–2026; settles 50% cash/50% stock | $273,003 (60% of salary); metrics: 3-yr cumulative Adjusted Diluted EPS (60% weight, target $16.04) and 3-yr average Adjusted ROIC (40% weight, target 14.20%); settles 50% cash/50% stock |
Performance cycle payouts (completed FY2023–2025):
| Cycle | Metric | Target | Actual | Payout |
|---|---|---|---|---|
| FY2023–2025 | Avg Adjusted ROIC (100%) | 13.27% | 15.77% | 200% |
| Shares issued (Jewell) | — | 2,603 | +2,603 | 5,206 sh; $237,446 at $45.61 on Apr 22, 2025 |
| Cash paid (Jewell) | — | $127,800 | +$127,800 | $255,600 |
Vesting schedules (service-based RS):
- 2022 grant vests in three equal installments commencing Apr 30, 2023; remaining installments on Apr 30, 2024 and Apr 30, 2025 .
- 2023 grant vests in three equal installments commencing Apr 30, 2024; next installments Apr 30, 2025 and Apr 30, 2026 .
- Reassignment grant (2,200 sh on Oct 18, 2023) vests 50% on Oct 18, 2024 and 50% on Oct 18, 2025 .
- 2024 grant vests on May 1, 2025; Apr 30, 2026; Apr 30, 2027 .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | 31,617 shares as of Apr 28, 2025; includes 17,547 restricted shares; 66 shares held in a revocable living trust with spouse as co-trustee |
| Ownership % of outstanding | ~0.15% (31,617 / 21,573,126 shares outstanding) |
| Unvested equity (as of Mar 1, 2025) | RS: 1,562 (2022), 4,428 (2023), 1,100 (10/18/2023 grant), 4,366 (2024); PSU targets/max outstanding: FY23–25 5,206 max, FY24–26 6,038 max, FY25–27 2,183 target |
| FY2025 stock vested | 7,780 shares vested; value $499,425 |
| Ownership guidelines | Required: 2x salary for segment presidents; Jewell met required ownership within grace period |
| Hedging/pledging | Hedging prohibited; pledging prohibited; no executive pledges |
Insider selling pressure and upcoming vesting windows:
- Upcoming scheduled vesting dates and tranches (subject to service): Apr 30, 2025 (2022/2023 grants), May 1, 2025 (2024 grant initial tranche), Oct 18, 2025 (reassignment grant second tranche), Apr 30, 2026 (2023/2024 tranches), Apr 30, 2027 (2024 final tranche) . Rule 10b5‑1 pre-clearance and trading windows apply to Section 16 officers .
Employment Terms
- Role and appointment: President, Architectural Glass effective Oct 18, 2023; received 2,200 time-based restricted shares vesting 50% annually over two years .
- Employment contracts: No ongoing fixed-term employment contract disclosed for NEOs; compensation set annually by the Compensation Committee .
- Change-in-control (CIC) severance (double trigger): If terminated without Cause or resigns for Good Reason within 2 years post-CIC, severance equals 2x (base salary + target annual cash incentive), plus up to 24 months medical/dental continuation; RS vest on termination; performance awards adjusted with performance period ending at CIC at Committee’s discretion; no excise tax gross-ups; “best-net-benefit” cutback applies; non-solicit and non-compete restrictions for 12–24 months .
- Clawback: SEC/Nasdaq-compliant incentive compensation recovery policy adopted Oct 2023; broader internal recoupment policy also in place .
- Trading policy: Pre-clearance, window periods, prohibition on hedging and pledging .
Investment Implications
- Pay-for-performance alignment: Jewell’s FY2025 annual incentive paid at 123% of target driven entirely by profitability (Glass Adjusted EBIT 200%), despite segment sales below threshold—consistent with Apogee’s focus on margin/ROIC; LTI metrics emphasize 3-year Adjusted EPS and ROIC, with prior cycle (FY2023–2025) maxed at 200% payout, signaling strong multi-year returns discipline .
- Retention and overhang: Multi-year RS and PSU schedules through FY2027 provide retention hooks; CIC agreements mitigate transaction-related turnover risk without shareholder-unfriendly tax gross-ups; anti-pledging reduces forced-selling risk .
- Selling pressure windows: Multiple vesting dates (Apr/May/Oct) create potential liquidity events; however, trading is governed by pre-clearance/windows or 10b5‑1 plans under firm policy .
- Execution risk: FY2025 consolidated revenue and operating margin declined YoY; Glass segment net sales also declined vs prior year, but EBIT outperformance vs plan reflects cost/price execution—sustainability of margin gains under lower volume is a key watch item .
- Governance sentiment: Say-on-Pay passed with 97.12% approval in 2024, indicating strong shareholder support for the compensation framework .