Darci B. Scott
About Darci B. Scott
Darci B. Scott is Vice President, Tax at CompX International (CIX), age 50, serving in the role since 2020; she also serves as Vice President, Tax at Valhi and NL Industries and has held various tax accounting roles across related Contran-affiliated companies since 2006 . During her tenure window, CompX revenues rose from $114.5M in FY 2020 to $145.9M in FY 2024 [*EBITDA rose from $15.6M to $20.7M], indicating steady profitability despite a dip in 2023 revenues , FY 2021: $140.8M , FY 2022: $166.6M , FY 2023: $161.3M , FY 2024: $145.9M ].
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| CompX International (CIX) | Vice President, Tax | 2020–present | Leads tax function for a controlled company structure, coordinating intercompany tax considerations across affiliates |
| Contran-related companies | Tax accounting roles | 2006–2019 | Progressive tax responsibilities supporting complex multi-entity structures and transactions |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Valhi, Inc. | Vice President, Tax | Current | Aligns tax planning across Valhi and subsidiaries; supports governance as a controlled-company framework |
| NL Industries | Vice President, Tax | Current | Oversees tax compliance and planning for NL within the Contran/Valhi ecosystem |
Fixed Compensation
- Not disclosed for Darci B. Scott (she is an executive officer but not a named executive officer; proxies provide detailed compensation only for NEOs) .
- Company framework: Executive compensation is primarily cash-based; prior decision to forgo long-term compensation other than defined contribution plans; minimal perquisites .
- CEO example for context (not Darci): Base salary with discretionary cash bonus; no formulaic performance linkage; no employment agreement .
Performance Compensation
- Not disclosed for Darci B. Scott (no metric- or target-based disclosure) .
- Company policy: Discretionary annual incentive bonuses (cash), not based on specific overall performance measures or formulae; financial performance considered among multiple qualitative factors (CEO framework) .
Equity Ownership & Alignment
- Beneficial ownership tables list directors and named executive officers; Darci B. Scott is not included, so her share ownership is not disclosed .
- No equity awards outstanding for named executive officers; no option exercises or vested stock in 2024/2023; company does not award options .
- Management stock ownership guidelines: None; guidelines apply only to non-employee directors (minimum 3x cash retainer, with restrictions on selling annual grant shares) .
- Hedging: No specific anti-hedging policies adopted; employees and directors must comply with insider trading policy, including hedging transactions .
Employment Terms
- Specific employment agreement, severance, change-of-control provisions for Darci B. Scott are not disclosed .
- Corporate context: Many executive services are provided under Intercorporate Services Agreements (ISAs) with Contran; fees renew quarterly, cover multi-company shared services, and are approved by independent directors (illustrative of governance/economic framework, not individual contracts) .
Performance & Track Record
- Company operating performance during her tenure window:
| Metric | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|---|
| Revenue (USD) | $114,537,000 | $140,815,000 | $166,562,000 | $161,287,000 | $145,941,000 |
| EBITDA (USD) | $15,644,000* | $24,365,000* | $29,413,000* | $29,408,000* | $20,714,000* |
Values retrieved from S&P Global.*
- Governance and pay context: Say‑on‑pay support remained strong (2024 meeting: 90.3% approval; 2023 meeting: 90.2%), indicating investor acceptance of the discretionary, cash-based framework .
Compensation Committee Analysis
- Committee composition: 2024 members — Ann Manix (Chair), Thomas E. Barry, Terri L. Herrington ; 2023 members — Ann Manix (Chair), Thomas E. Barry .
- Interlocks: None reported; controlled-company governance under NYSE American acknowledged; no independent nominations committee; compensation committee does not have a charter .
- Consultants: Not specifically disclosed for executive pay in these proxies; director compensation policy and grants are disclosed .
Compensation Structure Analysis
- Shift to cash and away from equity persists: Company forgoes long-term equity compensation for executive officers, with no options or stock awards outstanding; discretionary cash bonuses drive incentives .
- At‑risk pay linkage is low: No formulaic performance metrics or weightings disclosed; bonuses determined by qualitative assessments of responsibility, performance, and overall financial results .
- Governance red flag: Absence of explicit anti-hedging policy (reliance on insider trading policy) may reduce alignment strength versus peers with formal prohibitions .
Risk Indicators & Red Flags
- Hedging policy gap: No adopted hedging policy; reliance on insider trading policy for hedging transactions .
- Related‑party structure: Extensive ISAs and controlled-company governance increase potential conflict complexity; procedures and independent director approvals described .
- Equity‑based alignment limited: No executive equity awards; no management ownership guidelines .
Say‑on‑Pay & Shareholder Feedback
- Say‑on‑pay approvals: 90.3% (2024 meeting); 90.2% (2023 meeting), with no material compensation practice changes following favorable votes .
Equity Ownership Details
- Company-level ownership snapshot includes directors and NEOs; Darci B. Scott not listed; current directors and executive officers as a group owned 48,582 shares as of the 2025 record date (less than 1%) .
Investment Implications
- Alignment: Lack of executive equity grants and no management ownership guidelines reduce direct stock-aligned incentives for executives like Darci B. Scott; however, the controlled-company structure (NL/Contran) may emphasize group-level value creation over individual equity alignment .
- Retention risk: Scott’s long tenure across Contran-related companies (since 2006) and expanded responsibilities across Valhi and NL suggest institutional embeddedness; absence of disclosed severance/CoC protections provides limited signals on retention economics .
- Trading signals: Minimal insider selling pressure expected due to lack of equity awards/options; monitor Form 4s for any changes and watch ISAs/related‑party transactions for governance shifts .
- Performance lens: Revenues and EBITDA have improved versus 2020 levels, though 2024 revenue moderated; discretionary cash incentives may not tightly calibrate to TSR or financial targets, potentially dampening performance sensitivity versus metric‑based plans .