Gary Gavin
CROWN HOLDINGSAbout Gary Gavin
Gary Gavin is President of the Americas Division at Crown Holdings, effective July 1, 2025, after serving as President of Beverage Packaging North America since joining Crown in January 2023 . He holds a B.S. in Chemistry from John Carroll University and an MBA from Carnegie Mellon University . Prior to Crown, he spent 29 years at International Paper, most recently as Vice President & General Manager of the North American Container Division overseeing P&L for 56 manufacturing facilities . Under his leadership at Crown, the North American beverage can business underwent significant capacity expansion, resulting in strong sales and income growth (no numeric detail disclosed) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Crown Holdings | President, Americas Division | Effective Jul 1, 2025 | Oversees beverage can operations across Brazil, Colombia, Mexico, North America and NA tinplate (food, aerosol, closures) |
| Crown Holdings | President – Beverage Packaging North America | Jan 2023 – Jun 2025 | Led capacity expansion driving strong sales and income growth; divisional leadership role listed among Division Officers |
| International Paper | VP & GM, North American Container Division | 29 years (prior to Jan 2023) | Full P&L for 56 manufacturing facilities; progressive senior roles across sales, operations, general management |
External Roles
No public-company directorships or external board roles are disclosed for Gavin in SEC filings or Crown press materials .
Fixed Compensation
Not disclosed for Gavin in the latest proxy. Company context for NEOs: cash bonuses are determined under the Economic Profit Incentive Plan using modified operating cash flow (MOCF) and economic profit with capped payouts at 200% of target; severance for NEOs is double-trigger on change in control, with equity vesting based on performance to date on TSR and ROIC, and time-based awards accelerate; hedging and pledging are prohibited for Directors, Officers, and insiders .
Performance Compensation
| Award Component | Metric | Target Shares | Payout Range | Vesting Date | Notes |
|---|---|---|---|---|---|
| Restricted Stock (Time-based) | N/A | 463 | N/A | 155 on Aug 3, 2026; 154 on Jan 4, 2027; 154 on Jan 3, 2028 | Time-vested restricted shares under 2022 Stock-Based Compensation Plan |
| Performance-Based Restricted Stock | TSR vs defined peer group | 286 | 0%–200% of 286 | Jan 3, 2028 | Vest based on relative TSR; award under 2022 Stock-Based Compensation Plan |
| Performance-Based Restricted Stock | ROIC vs Company target | 467 | 0–467 | Jan 3, 2028 | Vest based on ROIC vs target; award under 2022 Stock-Based Compensation Plan |
Additional context: Crown’s performance share design (used for NEOs and broadly under the same 2022 plan) measures vesting on two metrics—relative TSR versus a published peer index and ROIC versus a three-year target— with grant-date fair values and vesting mechanics detailed in the proxy CD&A .
Equity Ownership & Alignment
| Date | Shares Owned Following Transaction | Shares Outstanding (Company) | Ownership % of Outstanding | 10b5-1 Plan Adoption | Pledging/Hedging |
|---|---|---|---|---|---|
| Jul 1, 2025 | 26,216 | 116,964,033 | 0.0224% (computed from cited values) | No (aff10b5One=0) | Prohibited for Directors, Officers, insiders |
| Citations | Computation based on Form 4 ownership and proxy outstanding shares |
Stock holding policies: Crown requires NEOs to retain 50% of after-tax shares upon vest and to hold such shares for two years; unexercised options and unearned performance shares do not count toward ownership guidelines (NEO-specific). Corporate guidelines prohibit hedging and pledging by Directors, Officers, and other insiders .
Employment Terms
- Start date and tenure: Joined Crown in January 2023; promotion to President of the Americas Division effective July 1, 2025 .
- Equity plan: Awards reported are under the 2022 Stock-Based Incentive Compensation Plan with specified time-based and performance-based vesting schedules .
- Change-in-control and severance framework (company-level context): For NEOs, CIC requires double-trigger for cash and equity, with stock options and time-based RSUs accelerating and performance shares vesting based on TSR/ROIC performance to date; cash severance policies exceeding 2.99x salary + target bonus require shareholder ratification. Gavin-specific severance terms are not disclosed .
- Clawbacks: Compensation recovery policy (NYSE 2023 rule compliance) applies to incentive-based compensation; additional clawback policy on performance-based awards exists (both apply to NEOs; corporate-wide policy framework referenced) .
Investment Implications
- Retention and alignment: The new July 2025 grant with final vesting in early 2028 creates a multi-year retention horizon tied to ROIC and relative TSR, signaling alignment with shareholder value drivers and divisional execution goals .
- Insider selling pressure: Monitor potential liquidity events around scheduled vest dates (Aug 3, 2026; Jan 4, 2027; Jan 3, 2028) and subsequent tax-withholding dispositions; current Form 4 shows an acquisition (“A”), not open-market selling, and no 10b5-1 plan flagged .
- Risk controls: Anti-hedging/anti-pledging policies reduce leverage risk; company-wide double-trigger CIC and clawback frameworks support disciplined pay-for-performance and mitigate governance red flags .
- Execution track record: Operational background (IP P&L oversight of 56 facilities) and noted capacity-led growth in Crown’s NA beverage segment are positives for operational execution; continued monitoring of divisional financials and future proxies is warranted for pay-performance alignment specific to Gavin .