Peter Eilers
About Peter Eilers
Peter E. Eilers is 61 and serves as Managing Director of AMVAC Netherlands BV; he has held that role since June 2018 after prior roles at AVD including Vice President, Business Development & Marketing (appointed January 2017) and Global Director, Business Development & Marketing (joined August 2015). He previously spent over 25 years at Bayer CropScience and predecessors in senior roles spanning EMEA marketing, global M&A/business development, and country head assignments in Poland, the Baltics, Iberia, and Indochina . Company performance in 2024 deteriorated: cumulative TSR value of an initial $100 investment fell to $24, net sales were $549,520 thousand, and net income was a loss of $124,855 thousand; management disclosed adjusted EBITDA was within target but significant nonrecurring charges drove the loss, and no cash bonuses were paid to NEOs for 2024 .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| AMVAC Netherlands BV (AVD) | Managing Director | Since June 2018 | Leads European operations and commercial execution |
| American Vanguard (AVD) | Vice President, Business Development & Marketing | Appointed Jan 2017 | Global commercial strategy and development leadership |
| American Vanguard (AVD) | Global Director, Business Development & Marketing | Joined Aug 2015 | Built BD and marketing capability across regions |
| Bayer CropScience (and predecessors) | Marketing Director EMEA; Executive Head M&A/Business Development; Country Head (Poland, Baltics, Iberia, Indochina) | 25+ years (pre-2015) | Regional P&L leadership, portfolio strategy, and M&A execution across EMEA and multiple geographies |
External Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Bayer CropScience | Marketing Director EMEA | Part of 25+ years pre-2015 | Drove regional marketing and portfolio positioning |
| Bayer CropScience | Executive Head, M&A/Business Development | Part of 25+ years pre-2015 | Led inorganic growth and BD initiatives |
| Bayer CropScience | Country Head (Poland, Baltics, Iberia, Indochina) | Part of 25+ years pre-2015 | Country-level governance and commercial execution |
Fixed Compensation
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Base Salary ($) | 292,867 | 290,868 | 290,963 |
| All Other Compensation ($) | 39,188 | 52,861 | 116,991 |
| Total Compensation ($) | 576,598 | 430,797 | 527,181 |
| NEO cash mix (group-level context) | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Base salary as % of total cash comp | 69% | 68% | 43% |
Notes:
- 2024 base salaries were frozen given weak 2023 performance .
- Salary figures for 2022–2024 reflect euro-to-dollar FX effects for Mr. Eilers .
Performance Compensation
Short‑Term Incentive (STI) – FY 2024
| Metric | Weighting | Target | Actual | Payout | Vesting/Timing |
|---|---|---|---|---|---|
| Adjusted EBITDA | 60% | Non-CEO NEO target = 60% of salary | Not disclosed | $0 (pool unfunded due to performance) | Paid Mar/Apr following measurement year (if funded) |
| Net Sales | 20% | — | — | $0 | — |
| Operating Expenses (Opex target) | 20% | — | — | $0 | — |
2025 plan moves to formula-driven cash incentives with five KPIs plus two corporate goals (transformation and manufacturing/opex), using multi-factor weighting; emphasizes accountability and financial improvement .
Equity Awards – Grants in FY 2024
| Type | Grant date | Units/Options (#) | Fair value per unit | Total fair value ($) | Vesting schedule | Performance/Exercisability |
|---|---|---|---|---|---|---|
| Time-based restricted shares | 1/22/2024 | 2,019 | $10.28 per share | $20,755 | Even tranches on 1st, 2nd, 3rd anniversary; service-based forfeiture | None (time-based) |
| Stock options (TSR-conditioned) | 1/22/2024 | 23,558 | Monte Carlo $4.18 | $98,472 | Vest on 3rd anniversary | Exercisability subject to price/TSR hurdles: one-third at $20/share for 20–30 consecutive days, two-thirds at $25/share for 20–30 consecutive days; strike price $10.28; expire 1/22/2027 |
No non-qualified deferred compensation or pension benefits from AVD; company notes a third-party pension contribution for Mr. Eilers without actuarial details .
Equity Ownership & Alignment
| Ownership metric (as of FY-end or stated date) | Value |
|---|---|
| Beneficial ownership (shares) | 47,905; under 1% of class (as of Apr 5, 2025) |
| Unvested time-based stock (12/31/2024) | 14,646 shares; market value $48,018 |
| Unexercisable options (12/31/2024) | 23,558 options; strike $10.28; expiration 1/22/2027 |
| Option exercisable (12/31/2024) | None reported for Mr. Eilers |
| Stock vested in 2024 | 8,271 shares; value realized $137,464 |
| Closing price (12/31/2024) | $10.97 per share |
| Ownership guidelines (policy) | CEO: 4× base wage; other Section 16 officers: 2× base wage in common stock |
| Hedging/pledging policy | Anti-hedging; prohibits hedging and holding company securities in margin accounts |
Observations:
- At FY-end 2024, Mr. Eilers’ options were modestly in-the-money relative to the $10.97 close but remained unexercisable and subject to TSR price hurdles (spread $10.97 − $10.28 = $0.69) .
- Compliance status with the 2× salary stock ownership guideline is not disclosed for Mr. Eilers .
Employment Terms
| Provision | Key terms |
|---|---|
| Change-of-control (COC) severance (double-trigger) | Lump sum equal to 2 years’ base salary and 2× average cash incentive (prior 3 full years), 24 months COBRA, executive outplacement, immediate acceleration/vesting of unvested options/awards upon termination for good reason or without cause within 24 months post-COC; benefits require a release |
| Estimated COC amounts for Mr. Eilers (illustrative as if COC on 12/31/2024) | Salary: $581,926; average bonus: $64,117; COBRA premiums: $67,880; outplacement: $10,000; accelerated vesting value: $48,018; total: $771,941 |
| Tax gross-ups | No excise tax gross-ups for NEOs |
| Clawback policy | Recovery of excess incentive compensation for covered executives in the event of a material restatement; lookback: 3 completed fiscal years prior to restatement |
Investment Implications
- Pay-for-performance alignment is intact: STI was $0 for 2024 amid weak results, while 2024 equity grants emphasize long-term TSR with high price hurdles ($20/$25 triggers) before options become exercisable .
- Retention risk is moderate: 2025 suspended annual equity awards for incumbents due to low share price and lender moratorium on buybacks, potentially dampening near-term retention incentives, though policy intends to resume at higher share prices .
- Potential near-term selling supply from vesting: 8,271 shares vested for Mr. Eilers in 2024 with $137,464 value realized; while exercise/option selling is constrained by TSR hurdles, time-based vesting can add tradable float after tax-withholding .
- Alignment safeguards: Anti-hedging/margin restrictions and 2× salary ownership guidelines for Section 16 officers reduce misalignment and leverage risks; double-trigger COC terms avoid single-trigger windfalls and excise gross-ups .
- Ownership is modest (<1%), and unvested awards plus TSR-conditioned options tie value creation to stock performance; FY-end option status unexercisable limits immediate liquidity-related selling pressure .
Appendix: Key 2024 Company Performance Context
| Metric | FY 2024 |
|---|---|
| Net Sales ($000s) | 549,520 |
| Net Income ($000s) | (124,855) |
| TSR – value of initial fixed $100 investment | $24 |
Eilers-specific compensation tables above provide the detailed levers for evaluating alignment, retention incentives, and potential trading signals.