James Snyder
About James Snyder
James Snyder, age 53, was appointed Chief Financial Officer of Calavo Growers effective December 2, 2024, after previously serving 18+ years at Calavo as Corporate Controller and Chief Accounting Officer (2001–2020), then leading controllership/CAO roles at Nano Banc (2020–2024) and Gem‑Pack Berries (2024) and beginning his career in audit at Deloitte . His initial base salary was set at $430,000 . Calavo’s FY2024 executive incentive plan was tied 100% to Adjusted Net Income with threshold/target/maximum at $34M/$38M/$42M, and actual FY2024 Adjusted Net Income of $18.7M resulted in no bonus payout for NEOs, underscoring the company’s pay-for-performance design heading into Snyder’s tenure .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Gem‑Pack Berries | Corporate Controller & Chief Accounting Officer | Apr 2024 – Nov 2024 | Senior controllership/CAO leadership before rejoining Calavo |
| Nano Banc (Irvine) | Corporate Controller & Chief Accounting Officer | Mar 2020 – Apr 2024 | Led controllership/CAO functions at a financial institution |
| Calavo Growers, Inc. | Corporate Controller & Chief Accounting Officer | Dec 2001 – Mar 2020 | Deep institutional knowledge of Calavo’s finance function |
| Deloitte | Audit roles (various) | ~7 years (pre‑2001) | Foundation in external audit and financial reporting |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Not disclosed | — | — | No public company directorships or committee roles for Snyder were disclosed in the cited filings . |
Fixed Compensation
| Component | Amount/Terms | Effective Date/Period | Source |
|---|---|---|---|
| Base Salary | $430,000 initial annual base salary | Appointment effective Dec 2, 2024 | |
| Annual Benefits | Eligible for standard company health/welfare benefits and 401(k) plan | Ongoing | |
| 401(k) Match | 100% on first 3% + 50% on next 2% (max 4% of comp) | Company plan terms | |
| Automobile Allowance | Eligible (amount not disclosed in Snyder’s offer) | Ongoing |
Performance Compensation
| Item | Metric/Range | Target/Threshold/Max | Actual/Payout | Vesting/Notes |
|---|---|---|---|---|
| Snyder Offer: Annual Bonus Opportunity | 50% – 200% of base salary; pro‑rated for partial year; subject to financial targets | Range specified in offer letter | Not disclosed | Cash; program metrics set by company each year |
| Company FY2024 Executive Plan | Adjusted Net Income (100% weighting) | Threshold $34M; Target $38M; Max $42M | FY2024 Adj. NI $18.7M; no bonuses paid | Committee could pay up to 50% of earned bonuses in RSUs vesting over 36 months |
No equity awards were granted to named executive officers in FY2024, limiting near‑term equity vesting for incoming executives until future grants are made .
Equity Ownership & Alignment
| Topic | Detail |
|---|---|
| Beneficial Ownership | Snyder was appointed after FY2024 and is not listed individually in the 2025 proxy’s beneficial ownership table; thus, his share count and % ownership were not disclosed there . |
| Stock Ownership Guidelines | Executive Officers must hold Company equity valued at least 200% of base salary within five years of appointment or by Aug 29, 2027, whichever is later; assessed annually using January pricing methodology . |
| Pledging Policy | Company has an anti‑pledging policy adopted in 2021; a director’s previously pledged shares were grandfathered. No pledge disclosure for Snyder was provided in the cited filings . |
| Equity Overhang/Vesting | No FY2024 grants to NEOs; Snyder’s post‑appointment equity awards, if any, were not disclosed in the 2025 proxy . |
Employment Terms
| Term | Economics/Provision | Source |
|---|---|---|
| Appointment | CFO effective Dec 2, 2024 | |
| Compensation Form | Base salary + annual bonus (50%–200% of salary), pro‑rated for partial service, subject to company financial targets; standard benefits, auto allowance; indemnification agreement | |
| Severance (Company Policy) | Unless otherwise contracted, executive officers eligible for severance: min 26 weeks of base salary + 1 week per year of service (cap 36 weeks), plus up to six months of company‑paid health benefits | |
| Change‑in‑Control (2020 Plan Mechanics) | If awards are not continued/assumed/substituted in a CIC: unvested options/SARs vest; performance awards paid at target as if CIC date were period end; committee discretion on incentive cash if <50% of performance period elapsed; all other unvested restricted awards vest; acceleration effective immediately prior to consummation |
Investment Implications
- Pay-for-performance alignment: Snyder’s annual bonus is directly tied to company financial outcomes, and Calavo’s FY2024 plan’s 100% Adjusted Net Income weighting resulted in zero payout at $18.7M vs the $34M threshold, signaling strict discipline on cash bonus payouts .
- Retention and selling pressure: With no FY2024 equity grants and no Snyder‑specific equity grants disclosed in the proxy, near‑term selling pressure from vesting appears limited; retention relies on future LTIP awards and the company’s severance framework (26–36 weeks + health benefits) .
- Alignment via ownership requirements: Snyder must build equity to 200% of base salary within five years/ by Aug 29, 2027, prompting ongoing accumulation and alignment with shareholders over time; anti‑pledging policy reduces hedging risk (grandfathered exceptions noted for a director, not Snyder) .
- Incentive design signals: The use of Adjusted Net Income with defined thresholds/targets ($34M/$38M/$42M) and committee discretion to deliver partial RSUs (36‑month vest) indicates potential for mixed cash/equity payouts if profitability improves, creating measurable catalysts around earnings trajectories and guidance credibility .
Sources: appointment and background ; base salary mention in proxy ; FY2024 incentive design and outcome ; ownership guidelines and benefits ; severance policy and CIC mechanics ; beneficial ownership table scope ; pledging policy note .