Joseph P. Boyle
COLUMBIA SPORTSWEARAbout Joseph P. Boyle
Joseph P. Boyle is Executive Vice President and Columbia Brand President at Columbia Sportswear; he joined the company in 2005, was promoted to EVP, Columbia Brand President in 2017, and on November 12, 2025 was named Co‑President (President, Columbia Brand) while continuing to oversee the Columbia brand including North America . He is 44 years old and a fourth‑generation member of the founding Boyle family; prior experience includes business development at Robert Trent Jones II Golf Course Architects . Company performance context for FY 2024: net sales $3,368.6 million (–3% YoY), operating income $270.7 million (–13% YoY), diluted EPS $3.82 (–7% YoY), with executive incentives tied primarily to Adjusted Operating Income (AOI); compensation “pay versus performance” disclosed TSR value of an initial $100 at $88.77 for 2024, and AOI as the key financial performance measure .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Columbia Sportswear Company | General Merchandising Manager; VP Apparel Merchandising; SVP Columbia Brand Merchandising & Design | 2005–2017 | Scaled merchandising and design across outerwear, accessories, equipment, collegiate, and licensing, supporting brand growth |
| Columbia Sportswear Company | EVP, Columbia Brand President | 2017–2025 | Led Columbia brand globally; architected Columbia’s Project Accelerate brand strategy |
| Columbia Sportswear Company | Co‑President (President, Columbia Brand) | Nov 2025–present | Oversees Columbia brand and consolidated North America business; partnered with Co‑President Peter Bragdon to advance commercial opportunities |
| Robert Trent Jones II Golf Course Architects | Business Development | pre‑2005 | External commercial development experience prior to joining Columbia |
External Roles
None disclosed in company filings for Joseph P. Boyle .
Fixed Compensation
| Year | Base Salary ($) | Target Bonus (% of Salary) | Target Bonus ($) | Actual Bonus Paid ($) |
|---|---|---|---|---|
| 2022 | 572,500 | 70% | 400,750 | 294,952 |
| 2023 | 600,462 | 70% | 420,323 | 186,623 |
| 2024 | 617,692 | 70% | 432,385 | 260,728 |
Notes:
- 2024 bonus funding: AOI target $371.5 million; actual AOI $312.4 million; plan paid 60.3% of target after Talent & Compensation Committee certification .
Performance Compensation
Short‑Term Incentive Plan (STIP) – 2024
| Metric | Weighting | Target | Actual | Payout (% of Target) | Payout ($) |
|---|---|---|---|---|---|
| Adjusted Operating Income (AOI) | 100% | $371.5 million | $312.4 million | 60.3% | 260,728 |
Plan design changes in 2024 removed individual components; executive bonuses are entirely dependent on corporate AOI performance, with threshold at 70% of target (25% payout) and maximum at 140% of target (140% payout) .
Long‑Term Incentives – Stock Options (Joseph P. Boyle receives 100% options)
| Grant Date | Award Type | Options (#) | Exercise Price ($/sh) | Vesting Schedule | Expiration | Grant Date Fair Value ($) |
|---|---|---|---|---|---|---|
| 2/29/2024 | Stock Options | 28,680 | 82.69 | 25% per year over 4 years; first tranche on 2/29/2025 | 2/28/2034 | 600,020 |
| 1/26/2023 | Stock Options | 18,175 | 90.85 | 25% per year over 4 years | 1/26/2033 | 550,005 |
| 1/27/2022 | Stock Options | 13,773 | 87.15 | 25% per year over 4 years | 1/27/2032 | 500,008 |
Context:
- Joseph did not receive PRSUs in 2022 and continues to receive 100% options due to his level of stock ownership, aligning value realization with share price appreciation .
Equity Ownership & Alignment
| Item | Amount |
|---|---|
| Beneficial Ownership (as of 4/1/2025) | 3,029,232 shares; 5.5% of outstanding |
| Shares held in trust (included above) | 209,603 shares (trust where J.P. Boyle is trustee) |
| Options exercisable within 60 days of 4/1/2025 | 149,809 options |
| Outstanding Options (12/31/2024) | 122,791 exercisable; 67,530 unexercisable |
| Options exercised in 2024 | None (0) |
Policy alignment:
- Officer stock ownership guidelines: EVPs encouraged to hold stock valued at 3x annual salary; calculation includes direct holdings, certain family/trust holdings, in‑the‑money vested options, and unvested time‑based RSUs; time to meet guideline is 5 years from becoming subject to guidelines . Compliance status for Joseph not disclosed.
- Hedging and pledging of Columbia securities are prohibited for directors and senior officers under the Insider Trading Policy .
Employment Terms
| Scenario | Cash Severance Multiple | Estimated Cash ($) | Insurance Continuation | Equity Treatment |
|---|---|---|---|---|
| Termination without cause or for good reason within 12 months following change‑in‑control (double‑trigger) | 3.0x base salary | 1,860,000 (as of 12/31/2024) | 18 months COBRA (present value $30,853) | Options and time‑based RSUs accelerate; PRSUs vest at target pro‑rated (Joseph had no RSUs/PRSUs); Joseph’s option acceleration value $35,563 at $83.93 stock price |
| Termination without cause (not in connection with change‑in‑control) | 2.25x base salary | 1,395,000 (as of 12/31/2024) | 18 months COBRA (present value $30,853) | No equity acceleration |
Additional governance terms:
- Company discloses “What We Don’t Do” practices include no single‑trigger change‑in‑control severance and no employment contracts; Columbia maintains clawback policies (2017 fraud/misconduct restatement policy and 2023 Nasdaq‑compliant policy) .
Compensation Structure Analysis
- Cash vs. equity mix: Joseph’s compensation is base + STIP + 100% options for LTI; option grant values increased from $500,008 (2022) to $600,020 (2024), while actual bonus paid rose from $186,623 (2023) to $260,728 (2024) on improved AOI funding .
- Move toward performance‑based pay at company level: In 2024, plan design increased PRSU weighting for other NEOs (20%→40%) and shifted metrics to 50% Relative TSR and 50% COI with a one‑year service tail; Joseph, due to ownership, remained 100% options, aligning with stock price performance .
- Discretion: Committee removed individual components from STIP, making payouts solely corporate AOI‑dependent; no discretionary bonus awarded for 2024 .
Related Party Transactions
- Joseph P. Boyle (son of CEO) is EVP, Columbia Brand President; his compensation arrangements were reviewed and ratified by the Nominating & Corporate Governance Committee .
- From Jan–Oct 2024, Molly E. Boyle (sister) was employed as Senior Manager – eCommerce Buying (SOREL); Mr. Timothy P. Boyle repaid $32,083 for coaching services provided to Ms. Boyle during and after employment; arrangements were reviewed and ratified; aircraft sublease with entity owned by CEO and spouse disclosed and overseen under related‑party policy .
Say‑on‑Pay & Peer Benchmarking
- Executive Compensation Peer Group (18 companies) used as a reference for market analyses (e.g., Deckers, Lululemon, Under Armour, Skechers, VF Corp, etc.); committee considers median (50th percentile) among many factors but does not target a specific market position .
- 2025 proxy includes advisory vote to approve executive compensation; historical approval percentages are not disclosed in this proxy .
Expertise & Qualifications
- Columbia roles: progressively senior merchandising and brand leadership with promotion to EVP, Columbia Brand President (2017) and Co‑President (2025), architecting Columbia’s Accelerate/Engineered for Whatever brand strategy and consolidating North America under his remit .
- Age and tenure: 44; joined Columbia in 2005; EVP since 2017 .
Equity Ownership & Alignment
| Ownership/Guidelines | Details |
|---|---|
| Beneficial ownership | 3,029,232 shares; 5.5% of outstanding |
| Trust holdings | 209,603 included; trustee is Joseph P. Boyle |
| Options status | 149,809 exercisable within 60 days of 4/1/2025; total options 122,791 exercisable and 67,530 unexercisable (12/31/2024) |
| Hedging/Pledging | Prohibited for directors and senior officers |
| Ownership guidelines | EVP minimum 3x salary; retention expectations until guideline met |
Employment Terms
- Severance plan: Double‑trigger change‑in‑control severance (3.0x base salary + 18 months health benefits; equity acceleration at target pro‑rated for PRSUs; options/time‑based RSUs accelerate); without cause, not in CIC: 2.25x base salary + 18 months health benefits; no equity acceleration .
- Clawbacks: 2017 fraud/misconduct restatement policy and 2023 Nasdaq‑compliant incentive compensation recovery regardless of misconduct .
- No employment contracts; no option repricing; no single‑trigger CIC .
Performance & Track Record
| Measure | FY 2024 | Context |
|---|---|---|
| Net Sales | $3,368.6 million (–3% YoY) | Inventory reduced 7%; brand strategy activation underway |
| Operating Income | $270.7 million (–13% YoY) | AOI used for STIP funding |
| Diluted EPS | $3.82 (–7% YoY) | 2024 bonus payout funded at 60.3% of target |
| TSR (PVP table) | $88.77 value of $100 initial investment (2024) | Peer TSR reference: Russell 1000 Clothing & Accessories |
Earnings call commentary (Q3 2025) indicates U.S. brand revitalization under Engineered for Whatever, with tariff headwinds mitigated via pricing, vendor negotiations, and resourcing; Columbia brand sell‑through in the U.S. remains a focus area under the Accelerate strategy .
Risk Indicators & Red Flags
- Hedging/pledging prohibition reduces misalignment risk .
- No single‑trigger CIC; no option repricing; no employment contracts (shareholder‑friendly practices) .
- Related‑party oversight robust; family employment and services disclosed with reimbursements reviewed/ratified .
- Clawback policies updated to Nasdaq standards (recovery regardless of misconduct) .
- 2024 option exercises: none for Joseph, reducing immediate selling pressure signals; RSU vesting not applicable due to option‑only LTI .
Investment Implications
- Alignment: Joseph’s 100% option LTI and significant beneficial ownership (5.5%) align his incentives with long‑term share price appreciation; hedging/pledging prohibitions and ownership guidelines reinforce alignment .
- Retention/Transition: Double‑trigger CIC severance (3.0x) and 2.25x non‑CIC severance provide retention value while avoiding single‑trigger risk; recent elevation to Co‑President formalizes succession planning and may enhance execution continuity for brand strategy .
- Performance linkage: STIP funded solely on AOI with 60.3% payout in 2024; company’s greater emphasis on PRSUs/Relative TSR for other NEOs evidences tighter pay‑for‑performance alignment; Joseph’s option‑only LTI leaves him exposed to share price outcomes, which is attractive for shareholders but dependent on U.S. brand re‑acceleration and tariff mitigation .
- Trading signals: No option exercises in 2024 and no RSU vesting for Joseph reduced near‑term selling pressure; substantial outstanding options and scheduled vesting could create periodic selling windows yet remain price‑dependent; monitor future Form 4s for 10b5‑1 plans and exercises as vesting continues .