Brett Seger
DMC GlobalAbout Brett Seger
Brett A. Seger is Chief Accounting Officer (CAO) of DMC Global (BOOM), appointed March 1, 2023, after serving as Vice President of Finance Integration since January 2022, focused on coordinating significant financial activities for Arcadia Products, LLC; he previously spent over a decade at Ernst & Young LLP, most recently as Audit Senior Manager, and holds a B.S. in Accounting and an MBA from the University of Denver as well as a CPA designation . He is 41 years old per the company’s 2025 proxy executive officer roster . Company performance context during his tenure: 2024 total shareholder return (value of $100 invested) was 16.36 vs. 41.88 in 2023; 2024 net loss was $151.96 million and Adjusted EBITDA was $52.16 million .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| DMC Global Inc. | Chief Accounting Officer | Mar 1, 2023–present | Principal accounting leadership; stewardship of reporting and controls . |
| DMC Global Inc. (Arcadia) | VP, Finance Integration | Jan 2022–Feb 2023 | Coordinated significant financial activities for Arcadia subsidiary . |
| Ernst & Young LLP | Audit Senior Manager (over a decade at EY) | Prior to 2022 (over a decade) | Led audit engagements; deep technical accounting and reporting expertise . |
External Roles
- No external public company board roles disclosed in company biography sections for Mr. Seger .
Fixed Compensation
| Component | 2024 | Notes |
|---|---|---|
| Base salary | Not disclosed | Mr. Seger was not a Named Executive Officer (NEO) in 2024; the CD&A and Summary Compensation Table cover only NEOs (Kuta, O’Leary, Walter, Shepston, Chilcoff, Grieves, Nobili) . |
| Target annual bonus % | Not disclosed | Only NEO bonus opportunities and outcomes are disclosed . |
| Actual bonus paid | Not disclosed | NEO outcomes shown; Seger not included . |
Performance Compensation
| Plan/Metric | 2024 Program Design (Company-wide for NEOs) | Actual/Outcome |
|---|---|---|
| Annual cash incentive – DMC corporate metrics (for applicable NEOs) | Revenue (10%), SG&A% (10%), Adjusted EBITDA% (15%), Cash Conversion Days (15%); linear interpolation; 0–180% payout scale . | 2024 Revenue $642.9m, SG&A 15.8%, Adjusted EBITDA% 8.1% → 0% payout on company component for CFO and CLO; CEO not eligible due to termination timing . |
| Long-term PSUs granted in 2024 (design) | 100% relative TSR vs S&P 600 Industrials; 3-year cliff vest . | Design disclosure; outcomes not yet determined . |
| 2025 forward change (approved) | PSUs to be 50% cumulative Adjusted EBITDA and 50% cumulative Adjusted Free Cash Flow over 3 years for DMC/Dyna/NobelClad; Arcadia PSUs based solely on cumulative Adjusted EBITDA over 2 years . | Structural shift away from 100% TSR to cash-flow/profitability alignment . |
Note: Specific incentive targets, weightings, or payouts for Mr. Seger are not disclosed, as BOOM reports these details only for NEOs .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership (most recent disclosed for Seger) | 9,302 shares of common stock as of March 16, 2023 . |
| Ownership as % of shares outstanding (at that date) | ~0.05% (9,302 / 19,716,800 shares outstanding on March 16, 2023) . |
| Vested vs. unvested | Not disclosed for Seger; table shows common stock only (no RSUs/PSUs listed for him at that date) . |
| Shares pledged | Company prohibits pledging or holding in margin accounts for directors, officers, and employees . |
| Hedging policy | Hedging prohibited for directors, officers, and employees . |
| Ownership guidelines | Apply to CEO and other NEOs and to non-employee directors; not specified for non-NEO executive officers like CAO . |
| Section 16 notes | Company disclosed one late Form 4 for Mr. Seger in 2024 reporting one transaction (no details provided) . |
Employment Terms
| Term | Disclosure |
|---|---|
| Employment agreement | 2025 proxy lists employment agreements covering Kuta, O’Leary, Walter, Chilcoff, Grieves, Nobili, and Shepston; no individual agreement for Seger disclosed . |
| Severance | Not disclosed for Seger . |
| Change-of-control | Under the 2025 Omnibus Incentive Plan, awards vest pro rata upon change in control based on actual performance if determinable or target if not, with forfeiture/recoupment provisions; hedging/pledging prohibited; independent administration; no dividends on unearned awards . |
| Clawback | Company clawback policy requires recoupment of incentive compensation upon an accounting restatement; covers current and future NEOs and incentive pay . |
| Non-compete / Non-solicit | Not disclosed for Seger in proxy materials. |
Track Record and Performance Context
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| DMC total shareholder return (value of $100 invested) | 96.24 | 88.14 | 43.26 | 41.88 | 16.36 |
| Net (loss) income ($000s) | (1,412) | (1,010) | 13,833 | 34,759 | (151,960) |
| Adjusted EBITDA ($000s) | 19,147 | 20,179 | 74,199 | 96,063 | 52,156 |
Note: These are company-level metrics; they frame the environment and pay-for-performance regime but are not attributed solely to Seger’s actions.
Compensation Governance and Risk Signals
- Anti-hedging/anti-pledging: Prohibitions apply to directors, officers, and employees, reducing misalignment/leverage risks .
- Ownership guidelines: CEO 5x salary; other NEOs must hold cumulative net-after-tax awards over prior 3 years; all NEOs/directors are compliant or within phase-in period; guidelines are not stated to apply to non-NEO executive officers like the CAO .
- “What we don’t do”: No single-trigger change-of-control severance; no hedging or pledging; strong clawback and independent committee oversight .
- Say-on-pay: >95% support at 2024 annual meeting, signaling broad investor approval of the program design (NEO-focused) .
- Section 16 compliance: One late Form 4 for Mr. Seger in 2024 (one transaction), otherwise compliance noted across officers/directors .
Investment Implications
- Alignment: Seger’s disclosed ownership was modest at 9,302 shares as of March 2023 (~0.05% of then-outstanding shares), which limits pure equity-alignment leverage; however, prohibitions on hedging/pledging and robust clawback reduce misalignment risks .
- Disclosure gap: As a non-NEO, his base salary, bonus targets, and equity grant specifics are not disclosed, constraining direct pay-for-performance analysis; investors should monitor future 8-Ks and Section 16 filings for award grants/sales to assess selling pressure or retention incentives .
- Performance regime shift: The 2025 move from TSR-only PSUs to cumulative Adjusted EBITDA and Adjusted Free Cash Flow strengthens linkage to controllable operating and cash metrics; while NEO-centric, this signals broader cultural emphasis that may indirectly shape CAO incentives and priorities (controls, cash conversion, cost discipline) .
- Retention risk: No individual employment agreement or severance terms are disclosed for Seger; absent clear contractual protections or sizable unvested equity, retention risk is not quantifiable from public filings and should be tracked through future awards and filings .