John Enwright
CARRIAGE SERVICESAbout John Enwright
John Enwright, age 52, was appointed Senior Vice President, Chief Financial Officer and Treasurer (Principal Financial Officer) of Carriage Services effective January 2, 2025. He previously served as CFO of Edible Brands (2024), CFO of Vera Bradley (2017–2023), VP FP&A at Vera Bradley (2015–2017), and held finance leadership roles at Tiffany & Co. (1999–2014). He holds an MBA in Finance from Seton Hall University and a BS in Accounting from Montclair State University . During his tenure as CFO, Carriage reported Q3 2025 adjusted diluted EPS of $0.75 (+17.2% YoY), total revenue of $102.7M (+2.0% YoY), and reaffirmed the midpoint of its 2025 outlook (Adjusted EBITDA $130–$132M; Adjusted diluted EPS $3.25–$3.30), while reducing leverage to 4.1x .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Edible Brands, LLC | Chief Financial Officer | 2024 | Senior finance leadership at omnichannel brand; oversaw financial operations . |
| Vera Bradley, Inc. | Chief Financial Officer | 2017–2023 | Led financial reporting, FP&A, M&A, treasury, real estate, IR, and supply chain; public-company CFO experience . |
| Vera Bradley, Inc. | Vice President, FP&A | 2015–2017 | Led forecasting and analysis; supported strategic planning . |
| Tiffany & Company | Director of Finance – Americas (various roles) | 1999–2014 | Led FP&A, treasury and continuous improvement initiatives across the Americas region . |
External Roles
- No public company directorships or external board roles disclosed for Enwright in company filings reviewed .
Fixed Compensation
| Element | 2025 Terms | Notes |
|---|---|---|
| Base salary | Not less than $425,000 | Per Employment Agreement effective Jan 2, 2025 . |
| Target annual bonus | Minimum 75% of base salary | Tied to specific performance criteria per agreement . |
| Equity eligibility | Eligible for annual and long-term equity awards | Discretionary awards under company plans . |
Performance Compensation
- Company annual incentive design (context): In 2024, all NEO cash bonuses were 100% tied to an Adjusted Consolidated EBITDA growth target; payouts for the CEO and other NEOs were determined solely by this metric .
- Long-term incentives (program design): 2024 grants comprised restricted stock and stock options (3-year vesting; options 10-year term) with grant/exercise price $24.48; beginning in 2025, the company will replace options with performance awards (PSUs) to enhance performance alignment .
| Incentive | Metric | Weighting | Target | Actual | Payout | Vesting/Term |
|---|---|---|---|---|---|---|
| Annual bonus (Company 2024 program for NEOs) | Adjusted Consolidated EBITDA growth | 100% | Company-set target | Achieved above target | CEO 175% of target; other NEOs 175% of target (examples shown) | Cash in 2025 for FY2024 performance . |
| LTI – 2024 structure (context) | N/A (time-based) | N/A | N/A | N/A | N/A | RS: 3-year vest; Options: 3-year vest, 10-year term; grant/exercise $24.48 . |
| LTI – 2025 structure (policy) | Performance awards (PSUs) to replace options | N/A | N/A | N/A | N/A | PSUs introduced starting 2025 awards . |
Note: Enwright’s specific 2025 metrics, targets and any initial equity grant details were not disclosed in the filings reviewed; his Employment Agreement states eligibility with criteria to be set by the company .
Equity Ownership & Alignment
| Ownership item | Detail |
|---|---|
| Beneficial ownership | 7,673 common shares as of March 14, 2025 (<1% of outstanding) . |
| Options/awards outstanding | Not disclosed for Enwright in FY2024 tables (joined Jan 2025) . |
| Ownership guidelines | Company introduced new stock ownership guidelines for the Executive Leadership team in 2024 (specific multiples for executives not disclosed in the proxy). Directors must hold 1x annual retainer within three years . |
| Hedging/pledging | Anti-hedging policy prohibits hedging and derivative transactions in company stock; proxy did not disclose a pledging policy reference in sections reviewed . |
| Clawback | Compensation Recovery Policy permits recoupment of incentive pay if payouts would have been lower under restated results . |
Employment Terms
| Term | Enwright Employment Agreement |
|---|---|
| Effective date | January 2, 2025 . |
| Base salary | ≥$425,000 . |
| Target bonus | ≥75% of base salary; based on specific performance criteria . |
| Equity eligibility | Eligible for annual and long-term equity awards . |
| Non-compete | During employment and 12 months post-termination . |
| Severance | Payments/benefits upon death, disability, involuntary termination without cause, or involuntary termination without cause/termination for good reason within a “corporate change period” (see Exhibit 10.1) . |
| Change-of-control equity treatment (plan-level) | Under the 2017 Omnibus Incentive Plan, outstanding awards vest upon a change in control unless replacement awards are provided; if replacement awards are given, a qualifying termination within one year causes full vesting (double-trigger on replacement awards) . |
| Pension/Deferred comp | Company discloses no pension plan and no nonqualified deferred compensation plans for 2024 . |
Performance & Track Record (Company under Enwright’s tenure)
| Period | Metric | Result |
|---|---|---|
| Q3 2025 | Total revenue | $102.7M (+2.0% YoY) . |
| Q3 2025 | Adjusted diluted EPS | $0.75 (+17.2% YoY) . |
| Q3 2025 | Adjusted consolidated EBITDA | $33.0M; 32.1% margin . |
| Q3 2025 | Leverage ratio | 4.1x; plus divestiture of non-core assets and strategic acquisitions completed . |
| FY2025 outlook (revised) | Total revenue | $413–$417M . |
| FY2025 outlook (revised) | Adjusted consolidated EBITDA | $130–$132M . |
| FY2025 outlook (revised) | Adjusted diluted EPS | $3.25–$3.30 . |
Additional governance/compensation context:
- 2024 Say-on-Pay support: ~82% approval as company shifted to metric-based incentives .
- Compensation Committee engaged Pearl Meyer in 2024; introduced explicit financial metrics for incentives and new ownership guidelines for executives and directors .
Investment Implications
- Pay-for-performance alignment: Enwright’s bonus opportunity (≥75% of salary) is explicitly tied to performance criteria, and CSV has moved to metric-driven incentives (Adjusted EBITDA growth for 2024) and PSUs starting 2025, increasing performance linkage and reducing windfall risk versus options .
- Retention and CoC protections: A 12-month non-compete and severance protections (including corporate change period provisions) reduce near-term flight risk; plan-level CoC terms provide double-trigger vesting if replacement awards and a qualifying termination occur, balancing retention with shareholder alignment .
- Insider selling pressure: As of March 14, 2025, Enwright owned 7,673 shares (<1%); no Form 4 activity was disclosed in the filings reviewed, and 2025 awards are expected to lean toward PSUs, which typically reduce immediate sell-to-cover pressure versus options .
- Governance signals: Anti-hedging and a clawback policy mitigate risk-taking and restatement risk; 2024 Say-on-Pay improvement (~82%) suggests investor receptivity to the revised compensation architecture .
- Execution track record: Under Enwright’s tenure, Carriage delivered higher adjusted EPS (+17.2% YoY in Q3), progressed portfolio optimization (acquisitions/divestitures), and maintained 2025 guidance midpoints, which supports confidence in finance leadership execution and capital allocation discipline .