Alex Bantz
About Alex Bantz
Alex W. Bantz, age 51, serves as Chief Commercial Officer (CCO) of Core Molding Technologies and has been an executive officer since 2024; he holds a B.S. in Mechanical Engineering from The Ohio State University . He joined Core on October 28, 2024, to lead the sales and marketing transformation under the company’s “Invest for Growth” strategy focused on wallet-share expansion, diversification, and go-to-market execution . Company performance context during his onboarding: 2024 net sales declined 15% to $302.4 million, EBIT fell 37% to $16.7 million, operating cash flow rose 1% to $35.2 million, and ROCE was 9.9% (vs. 16.4% in 2023); the pay-versus-performance disclosure shows the value of a $100 initial investment at $89.26 for 2024 (down from $142.65 in 2023) . The 2024 STIP (annual bonus) paid at 61% of target based on underachievement of adjusted EBIT and overachievement of operating cash flow targets, establishing the pay-for-performance framework applied to executives company-wide .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Milsco Manufacturing | Vice President, Sales & Marketing | 2018–2024 | Led commercial programs; industry sales leadership background cited as fit to accelerate Core’s revenue growth |
| Milsco Manufacturing | Business Unit Director | 2014–2018 | Business unit leadership prior to VP role |
| Veyance Technologies | Various roles incl. SIOP Integration Project Manager; Director, Sales & Marketing (Global Vibration Control & Hose) | 2007–2014 | Progressed through leadership roles across sales/operations |
| The Goodyear Tire & Rubber Company | Account Executive; Channel Manager | 2005–2007 | Commercial roles at a blue-chip manufacturer |
| Hendrickson | Engineer; Buyer; Commodity Manager | 1998–2005 | Early career in engineering and sourcing/commodity management |
Fixed Compensation
- Alex Bantz is not listed among the named executive officers (NEOs) in the 2025 proxy (NEOs were CEO David Duvall, CFO John Zimmer, COO Eric Palomaki), so his individual base salary and bonus data are not disclosed in the Summary Compensation Table .
- Company policy reference point: NEO base salaries were reviewed annually and increased 3.5% in June 2024, serving as a market-aligned adjustment benchmark for senior executives; CEO/NEO target STIP (bonus) levels were 100%/80% of base salary, respectively (Bantz’s target is not specifically disclosed) .
Performance Compensation
Annual STIP (Short-Term Incentive) Design and 2024 Outcome
| Metric | Target | Weight | 2024 Actual (definition) | Payout/Result |
|---|---|---|---|---|
| EBIT (before STIP) | $27,247k | 75% | $21,550k after adjustments (FX, severance) | Underachievement; contributed to 61% total STIP payout |
| Operating Cash Flow | $26,271k | 25% | $18,879k | Overachievement component; 61% total STIP payout |
| Overall Payout | — | — | — | Company-wide STIP paid at 61.3% of target; for NEOs this equated to ~49% of base salary (Bantz-specific payout not disclosed) |
- 2023 comparator: Company STIP paid at 126% of target on EBIT and free cash flow outperformance, underscoring variability in bonus outcomes with performance .
Long-Term Incentive Plan (LTIP) Structure
| Element | 2024 Design | Vesting | 2025+ Transition | Notes |
|---|---|---|---|---|
| Time-based RSUs | 70% of annual grant for NEOs/Vice Presidents | 1/3 per year over 3 years (accelerates on death, disability, or change-in-control) | Moving toward 50% of annual award | Award sizing based on % of salary; shares determined using avg high/low price on grant date |
| Performance-based RSUs (PSUs) | 30% of annual grant in 2024 | 100% cliff at 3 years | Target mix moves to 50% by 2025 | Performance goals: EBIT as % of sales and ROCE over 3-year period; acceleration with assumed 100% target on CIC |
| Options/SARs | Not granted | — | — | Company does not grant options/SARs under current program |
| ESPP | Employee Stock Purchase Plan available | — | — | Aligns broader employee base with shareholders |
- Forms of award agreements for RSUs/PSUs were approved on April 5, 2024, confirming mechanics and performance measurement administration under the 2021 Plan .
Equity Ownership & Alignment
- Beneficial ownership table in the 2025 proxy lists directors and NEOs; Bantz is not listed (consistent with not being an NEO for 2024 reporting), so his specific share ownership is not disclosed there .
- Policy alignment factors: the company maintains anti-hedging and anti-pledging policies and a compensation recoupment (clawback) policy, supporting alignment and risk controls for senior executives including executive officers .
- Vesting and liquidity: RSUs/PSUs are back-weighted (3-year vesting), which generally reduces near-term selling pressure and ties value realization to multi-year performance .
Employment Terms
- Change-in-control (CIC) economics disclosed for NEOs: upon qualifying termination in connection with a CIC, severance equals 2.99x the average of base salary and average STIP over the prior five years (subject to the 280G cap), plus a cash severance equal to the market value of all unvested shares at termination; accrued salary/benefits are also paid (Bantz-specific contract terms are not disclosed) .
- The 2021 Long-Term Equity Incentive Plan governs equity grants; the Board makes grants typically in March, and forms of PSU/RSU agreements were refreshed in April 2024, indicating current legal terms around performance measurement and vesting .
- Governance: the company uses an independent compensation consultant (Pearl Meyer), assessed for independence with no conflicts, and benchmarks against a peer set to calibrate programs (peer list not included in the cited excerpts) .
Performance & Track Record (role-specific context)
- Appointment and mandate: CEO David Duvall introduced Bantz as CCO to lead a sales and marketing transformation emphasizing trade show presence, account management, and verticalized commercial teams to accelerate revenue growth and wallet share expansion .
- Strategy execution environment: management reiterated growth priorities and noted a growing opportunity pipeline of ~$275 million as the company ramps its “Invest for Growth” strategy, with CCO leadership over sales and marketing initiatives highlighted in 2024–2025 commentary .
- Company performance footing around his start: 2024 net sales $302.4m (-15% YoY), EBIT $16.7m (-37% YoY), operating cash flow $35.2m (+1% YoY), ROCE 9.9% (vs. 16.4% in 2023); the value of a $100 investment measured in pay-versus-performance disclosure was $89.26 for 2024, providing TSR context .
Compensation Structure Analysis
- Increased at-risk equity: mix is transitioning to 50% performance-based stock by 2025 (from 30% in 2024 and 10% in 2023), tightening pay-performance alignment tied to EBIT margin (EBIT as a % of sales) and ROCE over three years .
- No option overhang: the company no longer grants options/SARs, relying on RSUs/PSUs—lower-risk instruments for executives that still provide equity linkage .
- Annual cash incentives are strictly formulaic on EBIT and operating cash flow with gates and caps (65% threshold to 150% max), and recent outcomes range widely (61% in 2024 vs. 126% in 2023), demonstrating real sensitivity to results .
Investment Implications
- Retention and selling pressure: 3-year vesting and a growing performance-based mix (moving to 50%) should reduce near-term selling pressure and focus Bantz’s realized equity on multi-year EBIT margin and ROCE delivery . Anti-hedging/anti-pledging and clawback policies further reinforce alignment and mitigate risk-taking incentives .
- Execution leverage: As a newly installed CCO tasked with commercial transformation, Bantz’s impact is levered to pipeline conversion and end-market diversification; management cites a ~$275 million opportunity pipeline as a foundation for growth initiatives under his commercial leadership .
- Pay-for-performance framework: STIP/PSU designs tightly link upside to EBIT quality and cash generation (EBIT as % of sales, operating cash flow, ROCE), which should translate to operating discipline in the go-to-market push; 2024’s below-target STIP outcome illustrates downside when earnings underperform .
- Disclosure gaps: Because Bantz was not an NEO in 2024 reporting, investors lack line-of-sight to his specific base salary, bonus target, grant sizes, and ownership—monitor future proxies and Section 16 filings for updates as his tenure progresses .