Brock Albinson
About Brock Albinson
Brock Albinson serves as Senior Vice President and Chief Accounting Officer (principal accounting officer) at Claritev (CTEV), effective September 29, 2025, replacing Gerald Kozel . He previously held finance leadership roles at ADP (2007–2024), including Corporate Controller and Principal Accounting Officer (2015–2024), and began his career at PwC (1997–2007) . As of his initial Section 16 filing on October 1, 2025, he reported no beneficial ownership of Claritev securities . Company performance context tied to executive pay: 2024 revenue was $930.6 million (-3.2% YoY), and adjusted EBITDA was $576.7 million; annual cash bonus payouts to continuing NEOs were set at 70% of target after committee discretion .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Automatic Data Processing (ADP) | Corporate Controller & Principal Accounting Officer | 2015–2024 | Led corporate accounting and SEC reporting for a large public HR/payroll firm |
| Automatic Data Processing (ADP) | Finance leadership roles (various) | 2007–2015 | Progressive financial management responsibilities |
| PricewaterhouseCoopers (PwC) | Assurance/Accounting roles | 1997–2007 | Big Four audit foundation in accounting and controls |
External Roles
No public company directorships or external board roles disclosed for Mr. Albinson .
Fixed Compensation
| Item | 2025 Terms |
|---|---|
| Base salary | $375,000 |
| Target annual cash incentive | 50% of earned base salary (eligible in 2025) |
| Initial RSU grant | $150,000 grant value on September 30, 2025; vests pro rata in four equal annual installments beginning on first anniversary |
| Long‑term incentive (from 2026) | Annual grant target equal to 150% of base salary, form consistent with similarly situated employees and subject to Compensation Committee approval |
Performance Compensation
| Component | Metric | Weighting | Target | Actual (2024 company-level) | Payout treatment |
|---|---|---|---|---|---|
| Annual cash incentive (plan design) | Revenue | 50% | $1,021.1M | $943.2M “deemed” after adjustments (92.4% of target) | 52.5% of target portion before discretion; total payouts increased to 70% of base salary earned via positive discretion for continuing NEOs |
| Annual cash incentive (plan design) | Adjusted EBITDA | 50% | $646.7M | $597.8M “deemed” after adjustments (92.4% of target) | 62.2% of target portion before discretion; total payouts increased to 70% of base salary earned via positive discretion for continuing NEOs |
| PSUs (2024 program for certain NEOs) | Revenue | 50% | 3-year performance period | Not applicable to Albinson; design noted | Cliff-vest post period if earned |
| PSUs (2024 program for certain NEOs) | Relative TSR | 50% | 3-year performance period | Not applicable to Albinson; design noted | Cliff-vest post period if earned |
Notes:
- Claritev’s executive annual bonus plan emphasizes Revenue and Adjusted EBITDA with equal weighting; eligibility thresholds at 92% of revenue target and 90% of Adjusted EBITDA target . Mr. Albinson’s 2025 annual cash incentive eligibility is consistent with being an SVP but his individual payout for 2025 has not been disclosed .
- In 2025, due to equity pool constraints and dilution management, Claritev suspended PSUs for most executive grants and used stock‑settled RSUs (4‑year vest) and cash‑settled capped RSUs (2‑year vest), a context likely relevant to future LTIs though specific 2026 vehicle mix for Albinson will be determined by the Compensation Committee .
Equity Ownership & Alignment
| Item | Status |
|---|---|
| Total beneficial ownership | 0 shares as of Form 3 filed October 1, 2025 (initial statement) |
| Vested vs unvested shares | Initial RSUs ($150,000 value) granted September 30, 2025; four-year pro rata vesting; exact RSU count depends on grant-date FMV and was not enumerated in the 8‑K |
| Options | None disclosed for Mr. Albinson |
| Ownership guidelines | SVP-level officers must hold shares equal to at least 2× base salary; 5-year compliance window |
| Hedging policy | Hedging and short‑selling of company stock prohibited for directors, officers, employees |
| Pledging policy | Pledging requires pre‑clearance by General Counsel; approvals discretionary and may consider pledge size and financial capacity |
| Clawback policy | Awards subject to clawback/reduction/recoupment to comply with Company policy and applicable law; detrimental activity may trigger cancellation/forfeiture |
| Current alignment read-through | No holdings initially; RSU vesting begins in late 2026; ownership guideline and hedging/pledging policies promote alignment and limit leverage/hedging |
Employment Terms
| Term | Details |
|---|---|
| Appointment | SVP & Chief Accounting Officer; principal accounting officer effective September 29, 2025 |
| Reporting/role | Principal accounting officer (replacing Gerald Kozel) |
| Base/bonus | Base $375,000; target annual cash incentive 50% of base (eligible in 2025) |
| Initial equity | RSUs of $150,000 grant value on September 30, 2025; vests in four equal annual installments |
| Ongoing LTI | Eligible from 2026 with annual grant target 150% of base, subject to Compensation Committee approval and standard terms |
| Contract/severance | No employment agreement or severance/change‑in‑control terms disclosed for Albinson in the 8‑K; broader 2025 severance changes covered other executives (CEO/CFO/EVP/SVP) |
| Section 16 POA | Executed POA authorizing Company counsel to administer and file Forms 3/4/5 and EDGAR Next; dated September 24, 2025 |
Investment Implications
- Pay-for-performance linkage: Annual cash bonus is tied to company revenue and adjusted EBITDA metrics; initial equity is time‑vested RSUs, creating retention hooks and future ownership alignment without near-term PSU leverage .
- Near-term selling pressure: Minimal initially—Form 3 shows no holdings; first RSU tranche would vest around September 30, 2026, which is when potential Form 4 activity could begin if shares are sold to cover taxes or liquidity .
- Alignment and risk controls: SVP ownership guideline (2× salary, five years to comply), hedging ban, pledging pre‑clearance, and clawback framework collectively reduce misalignment and risk of leveraged positions or hedging strategies .
- Retention risk: Initial RSU grant plus ongoing LTI eligibility at 150% of base starting 2026 suggests moderate retention incentives; absence of disclosed severance/change‑in‑control protections for Albinson may reduce separation economics relative to CEO/CFO peers .
- Program evolution watch items: Equity pool constraints led to 2025 use of cash‑settled capped RSUs for many execs; monitoring Compensation Committee decisions for 2026 LTI vehicle mix and any updates to accounting leadership compensation will be relevant for alignment and dilution .
Key signal: As principal accounting officer appointed during a transformation period with tightened equity pool usage, Albinson’s pay emphasizes cash bonus tied to core financial outcomes and time-vested RSUs—signals focused on stability, compliance, and retention rather than aggressive PSU performance leverage in the near term **[1793229_0001793229-25-000156_ctev-20250923.htm:1]** **[1793229_0001793229-25-000070_ctev-20250319.htm:41]** **[1793229_0001793229-25-000070_ctev-20250319.htm:10]**.