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Gary E. Kramer

President and Chief Executive Officer at BARRETT BUSINESS SERVICES
Board
Since March 5, 2020
Education
Earned a Bachelor of Science degree in Business Administration with a specialization in Finance from Rowan University and an MBA with a specialization in Accounting from Drexel University.
Tenure
Joined BBSI on August 1, 2016 as Vice President of Finance, served as Chief Financial Officer and Principal Accounting Officer, and was promoted to President and Chief Executive Officer on March 5, 2020.

Also at BARRETT BUSINESS SERVICES

AJH
Anthony J. Harris
Treasurer
GRB
Gerald R. Blotz
Executive Vice President and Chief Operating Officer (COO)
JRP
James R. Potts
Executive Vice President, General Counsel, and Secretary

About

Gary E. Kramer began his career at BBSI on August 1, 2016, joining as Vice President of Finance. Over time, he expanded his responsibilities by serving as the company's Chief Financial Officer and Principal Accounting Officer, which paved the way for his promotion to President and Chief Executive Officer on March 5, 2020.

Prior to his tenure at BBSI, he accumulated 12 years of industry experience at Chubb Limited, where he held key leadership roles, including Senior Vice President for Global Services and Divisional Financial Officer of ACE Financial Solutions, Inc..

His academic background, which includes a Bachelor of Science from Rowan University and an MBA from Drexel University, has provided him with a solid foundation in finance and accounting.

While specific personal details outside of his educational and professional accomplishments are not provided, his career reflects a strong blend of financial expertise and leadership, contributing to the growth and operational success of BBSI.

$BBSI Performance Under Gary E. Kramer

Past Roles

OrganizationRoleDate RangeDetails
Barrett Business Services, Inc.Chief Financial Officer / Principal Accounting OfficerAug 1, 2016 – Mar 5, 2020 Promoted from Vice President – Finance; served until his election as President & CEO
Barrett Business Services, Inc.Vice President – FinanceAug 1, 2016 – Promotion to CFO Joined BBSI as Vice President – Finance
Chubb Limited (formerly ACE Limited)Senior Vice President for Global Services2013 – 2016 (approx.) Led the Global Services team to support multinational customer needs and managed complex underwriting and servicing requirements
ACE Financial Solutions, Inc.Divisional Financial OfficerPrior to 2013 Held the role before his appointment as Senior Vice President at Chubb Limited

Fixed Compensation

Data from  FY 2023
Component NameAmountPayment ScheduleAdditional Details
Salary$814,115 Annually Fixed annual base salary
RSU Awards$1,308,959 [calculation: $1,926,165 - $617,206] As per RSU vesting schedule Portion of Stock Awards attributed to RSUs; valued using the closing price on the grant date
Nonqualified Deferred Compensation Earnings$184,189 Per plan terms Earnings from the Barrett Business Services NDCP
All Other Compensation$106,230 Per plan terms Includes employer contributions to the 401(k) plan and other personal benefits

Performance Compensation

Data from  FY 2023

Non-Equity Incentive Plan Compensation

MetricTargetActualThresholdMaximumPayout (%)
Gross Billings Growth 7.40% 4.36% 5.18% 10.36% 0%
Net Income $43,081,575 $50,612,451 $36,619,339 $51,697,890 187%
Gross Margin as % of Gross Billings 3.00% 3.14% 2.85% 3.20% 170%
  • Target Bonus Amount: $205,750
  • Actual Payout: $735,356

Performance Stock Units (PSUs)

MetricValue
Performance MetricsEqually weighted between gross billings and net income before taxes
Threshold Award6,890 shares
Target Award13,780 shares
Maximum Award27,561 shares
Adjustment2.5% per 1% deviation from target
Vesting Schedule3-year vesting ending December 31, 2025
Grant DateMarch 10, 2023
Grant Date Fair Value$617,206
Grant Date Stock PriceNot provided

This section details the performance compensation for 2023 covering both the cash-based Non-Equity Incentive Plan Compensation and the equity-based Performance Stock Units. The Non-Equity Incentive Plan includes detailed corporate performance metrics (Gross Billings Growth, Net Income, and Gross Margin) along with both target and actual results leading to payouts, while the PSUs are contingent on achieving specific performance thresholds with clearly defined share awards and vesting conditions.