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Tony R. Thene

President and Chief Executive Officer at CARPENTER TECHNOLOGY
Board
Since July 1, 2015
Age
63 years
Education
Earned an undergraduate degree in Accounting from Indiana State University and an MBA from Case Western Reserve University in Cleveland, Ohio.
Tenure
Joined CRS in January 2013 as Senior Vice President and Chief Financial Officer and was promoted to President and Chief Executive Officer on July 1, 2015.

Also at CARPENTER TECHNOLOGY

BJM
Brian J. Malloy
Senior Vice President and Chief Operating Officer
JDD
James D. Dee
Senior Vice President, General Counsel, and Secretary
MDA
Marshall D. Akins
Vice President - Chief Commercial Officer

About

Tony R. Thene is a seasoned executive with extensive experience in finance and operations, currently serving as the President and Chief Executive Officer at CRS. He is 63 years old and has built his career on a solid foundation of financial expertise and strategic leadership.

He earned an undergraduate degree in Accounting from Indiana State University and an MBA from Case Western Reserve University, which have been instrumental in his career progression. His education has supported a lengthy and distinguished tenure at both CRS and previous corporations.

At CRS, he joined in January 2013 as Senior Vice President and Chief Financial Officer and was promoted to President and Chief Executive Officer on July 1, 2015. Prior to his time at CRS, he spent 23 years at Alcoa, Inc., holding several significant financial and management roles, which further highlights his comprehensive industry expertise.

$CRS Performance Under Tony R. Thene

Past Roles

OrganizationRoleDate RangeDetails
Mativ Holdings, Inc. Board of Directors 2022 – May 2024 Concluded board role
Neenah, Inc. Board of Directors 2018 – 2022 Former board position
Carpenter Technology Corporation (CRS) Senior Vice President and Chief Financial Officer January 2013 – June 2015 Former role prior to becoming CEO
Alcoa Inc. Chief Financial Officer, Engineered Products and Solutions Business Group 2010 – 2013 CFO role during his tenure at Alcoa
Alcoa Inc. Vice President, Controller and Chief Accounting Officer N/A Multiple management roles
Alcoa Inc. Director, Investor Relations N/A Held as part of various leadership roles
Alcoa Inc. Chief Financial Officer, Flat Rolled Products Group N/A Role details not dated
Alcoa Inc. Chief Financial Officer, Alcoa World Alumina and Chemicals N/A Role details not dated
Alcoa Inc. Manufacturing Manager, Alumina Chemicals business N/A Role details not dated

External Roles

OrganizationRoleDate RangeDetails
Furman University Board of Trustees N/A No specific dates provided

Fixed Compensation

Data from  FY 2024
Component NameAmountPayment ScheduleAdditional Details
Salary$996,154 AnnualN/A
Stock Awards$4,000,077 AnnualN/A
Non-Equity Incentive Plan Compensation$2,117,272 AnnualN/A
All Other Compensation$209,871 AnnualIncludes Perquisites $10,000 , Retirement Contributions $49,714 , Dividend Equivalents $90,378
Non-Qualified Deferred CompensationN/AN/ANot applicable for 2024
Outstanding Equity Awards - Option AwardsOptions: 10,524 (@$53.95, exp 08/01/24); 61,650 (@$40.43, exp 07/31/27); 29,930 (@$58.94, exp 08/06/28); 43,500 (@$44.13, exp 08/15/29) Based on vesting conditionsDetailed option award terms provided
Outstanding Equity Awards - Stock Awards83,560 shares; $9,156,505 market value Based on vesting conditionsN/A
Outstanding Equity Awards - Equity Incentive Plan Awards170,282 units; $18,659,502 value Based on vesting conditionsN/A
Potential Payments Upon Termination - Before Change-in-ControlRSU: $1,607,100, $2,893,569; PSO: $3,704,681, $1,257,650 Event-based on terminationN/A
Potential Payments Upon Termination - After Change-in-ControlRSU: $1,679,094, $3,704,571, $3,772,839; PSO: $5,556,911, $3,772,839; Severance: $4,224,294 Event-based on terminationIncludes Base Salary & Bonus $4,150,000 , Benefit Continuation $54,294 , Outplacement $20,000

Performance Compensation

Data from  FY 2024

Adjusted ROIC Based RSU

MetricValueCitation
Threshold32% of target
Target100% of target
Maximum200% of target
Vesting DateJune 30, 2026
Grant DateAugust 15, 2023
Grant Date Fair Value ($USD)$2,000,039
Target Units34,430
Maximum Units68,860
TSR Modifier±20% adjustment based on TSR

Adjusted EBITDA Based RSU

MetricValueCitation
Threshold32% of target
Maximum200% of target
Vesting DateJune 30, 2026
Grant DateAugust 15, 2023
Grant Date Fair Value ($USD)$2,000,039
NoteNo specific numeric targets provided for Adjusted EBITDA
TSR Modifier±20% adjustment based on TSR

ESG-Based RSU

MetricValueCitation
Threshold32% of target
Maximum200% of target
Vesting DateJune 30, 2026
Grant DateAugust 15, 2023
Grant Date Fair Value ($USD)$4,000,077
NoteESG goals details not fully specified
TSR Modifier±20% adjustment based on TSR