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Theodore L. Harris

Chairman, President, and Chief Executive Officer at BALCHEM
Board
Since 2017
Age
60 years
Education
Holds an MBA from Harvard University and a bachelor's degree in chemical engineering from Lehigh University.
Tenure
Joined BCPC as Board Director, President, and CEO in May 2015 before transitioning to the role of Chairman, President, and CEO in 2017.

Also at BALCHEM

CMB
C. Martin Bengtsson
Executive Vice President and Chief Financial Officer
FB
Frederic Boned
Senior Vice President and General Manager, Human Nutrition and Health
HM
Hatsuki Miyata
Executive Vice President, Chief Legal Officer, and Secretary

About

Ted Harris is the Chairman, President, and Chief Executive Officer of BCPC, with a background in chemical engineering and business administration. He holds an MBA from Harvard University and a bachelor's degree in chemical engineering from Lehigh University, which laid the foundation for his career in senior corporate leadership.

Beginning his tenure at BCPC in May 2015 as Board Director, President, and CEO, he assumed the full leadership role as Chairman, President, and CEO in 2017. His progression within the organization reflects his extensive expertise in both strategic management and operational oversight.

Throughout his career, Harris has been instrumental in steering BCPC towards growth and operational excellence, emphasizing sustained value creation and strategic expansion. His leadership has been marked by efforts to advance product development and enhance the company’s competitive positioning in the global market.

$BCPC Performance Under Theodore L. Harris

Past Roles

OrganizationRoleDate Range
Ashland Global Holdings Inc. (formerly Ashland Inc.) Senior Vice President/Ashland, President, Performance Materials November 2014 to April 2015
Ashland Global Holdings Inc. (formerly Ashland Inc.) Senior Vice President/Ashland, President, Performance Materials & Ashland Supply Chain 2011 to 2014
Ashland Global Holdings Inc. (formerly Ashland Inc.) Vice President/Ashland, President, Performance Materials & Ashland Supply Chain N/A

External Roles

OrganizationRoleDate Range
Pentair plc (NYSE) Director N/A

Fixed Compensation

Data from  FY 2024
Component NameAmountPayment ScheduleAdditional Details
Base Salary$1,155,000 2024Annual base salary
Bonus$0 2024No bonus awarded
Deferred Compensation$0 2024No deferred compensation reported
All Other Compensation$54,486 2024401(k) Plan Matching: $20,700 ; Other Perquisites: $33,786

Performance Compensation

Data from  FY 2024

Stock Awards

MetricValue
Grant Date February 8, 2024
Grant Date Fair Value $3,819,530
Grant Date Stock Price $143.43 per share
Performance Shares Threshold 5,885 shares
Performance Shares Target 11,770 shares
Performance Shares Maximum 23,540 shares
Vesting Schedule Payout in shares in February 2027

Time-Based Restricted Shares

MetricValue
Number of Shares 6,650 shares
Vesting Schedule Cliff vest on February 8, 2027

Stock Options

MetricValue
Number of Shares 21,500 shares
Exercise Price $143.43 per share
Vesting Schedule 20% after Year 1, 40% after Year 2, 40% after Year 3
Expiration Date February 8, 2034

Non-Equity Incentive Plan Compensation (ICP)

MetricValue
Adjusted EBITDA Threshold$230.9 million
Adjusted EBITDA Target$241.1 million
Adjusted EBITDA Stretch$253.2 million
Adjusted EBITDA Maximum$265.2 million
Revenue Threshold$920.5 million
Revenue Target$962.0 million
Revenue Stretch$986.1 million
Revenue Maximum$1,010.1 million
Free Cash Flow Threshold$120.0 million
Free Cash Flow Target$133.3 million
Free Cash Flow Stretch$140.0 million
Free Cash Flow Maximum$146.6 million
ESG Modifier±10% (Applied +6% for 2024)
ICP Target Payout $1,270,500
ICP Maximum Payout $2,541,000
Final ICP Payout137% of target (131% achieved + 6% ESG)
Evaluation Date February 12, 2025

Evaluation Period & Additional Details

  • Performance Period: For Stock Awards, Stock Options, and the ICP, the performance evaluation covers fiscal years 2024–2026 with payouts in February 2027.
  • Metrics: EBITDA and TSR for Stock Awards; vesting over three years for Stock Options; and Adjusted EBITDA, Revenue, Free Cash Flow, plus an ESG modifier for the ICP determine the cash payout levels.