Robert Wright
Delek US HoldingsAbout Robert Wright
Robert Wright, age 41, is Senior Vice President, Deputy Chief Financial Officer and Chief Accounting Officer of Delek US, and effective April 1, 2025 also serves as Executive Vice President and Chief Financial Officer of Delek Logistics Partners; he was further promoted to Executive Vice President of Delek US effective November 15, 2025 . He joined Delek in October 2020 as Vice President and Corporate Controller; prior roles include Director of Finance, Corporate Governance & Reporting at CVR Energy/CVR Partners (2018–2020) and 12+ years at PwC across the U.S., Australia and Canada; he holds a B.Comm from University of Alberta, an MBA from Florida International University, CPA licenses in Texas and Virginia (since March 2013), and is a member (with distinction) of the Canadian Institute of Chartered Accountants (since December 2007) . Company performance context during his tenure shows quarterly revenue and EBITDA variability; recent quarters are summarized below to frame pay-for-performance alignment and execution risk.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Delek US | VP, Corporate Controller | Oct 2020 – Feb 2024 | Led corporate accounting and reporting; strengthened controls as principal accounting leader . |
| Delek US | SVP, Deputy CFO & Chief Accounting Officer | Feb 2024 – Nov 15, 2025 | Oversaw accounting, supported CFO; principal accounting officer in SEC filings . |
| Delek Logistics Partners (DKL) | EVP & Chief Financial Officer | Apr 1, 2025 – Present | Finance leadership for DKL; liquidity initiatives; earnings-call leadership . |
| Delek US | EVP | Nov 15, 2025 – Present | Expanded corporate responsibilities reporting to CEO . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| CVR Energy, Inc. & CVR Partners LP | Director of Finance, Corporate Governance & Reporting | Sep 2018 – Oct 2020 | Led governance/reporting for integrated energy businesses . |
| PricewaterhouseCoopers (PwC) | External Audit Senior Manager | ~2006 – 2018 | Led audit/consulting in U.S., Australia, Canada for energy/industrial clients . |
Fixed Compensation
| Component | Terms | Effective Date | Notes |
|---|---|---|---|
| Base Salary | $450,000; increases to $500,000 | Apr 1, 2025; Nov 15, 2025 | Compensation tied to dual roles (DKL CFO, DK EVP) . |
| Target Bonus | 60% of base; increases to 75% of base; max payout 2x target | Apr 1, 2025; Nov 15, 2025 | Annual Cash Incentive Program based on Company financial (EBITDA) and non-financial HSE metrics . |
| Long-Term Incentive (Equity) | $500,000 annually, split 50% RSUs / 50% PSUs across DK and DKL | Grants begin Mar 10, 2026 (eligibility Nov 15, 2025) | Subject to Board approval; RSUs time-vest; PSUs performance-vest . |
| 2025 Equity Vesting | March 10, 2025 equity award vests | Dec 31, 2025 | One-time vest timing for 2025 award . |
| Vacation | 25 days | 2025 | Per offer letter . |
Performance Compensation
- Annual Incentive Plan (2025): Executive bonuses are funded by Company Adjusted EBITDA; payouts are capped at target unless full-year Adjusted EBITDA ≥ $404 million, after which payouts are determined by EBITDA achievement and operating metrics (non-financial) .
- Metrics include Adjusted EBITDA (threshold $404m) with operating/HSE measures; bonus is paid in cash on annual cycle .
- Long-Term Incentives (program design): Executive LTI grants consist of time-vesting RSUs that vest quarterly over three years and PSUs that vest at the end of a three-year performance period based on relative total shareholder return (TSR) versus a defined energy peer group, with payout from 0%–200% at thresholds 25th, 50th, and 75th percentiles .
| Incentive Type | Metric | Weighting | Target/Threshold | Actual | Payout Mechanics | Vesting |
|---|---|---|---|---|---|---|
| Annual Cash (2025) | Adjusted EBITDA | Not disclosed | Threshold $404m (FY2025) | Not disclosed | Capped at target unless EBITDA ≥ threshold; then EBITDA + operating metrics determine payout | Annual cash bonus . |
| Annual Cash (2025) | HSE/Operating metrics | Not disclosed | Not disclosed | Not disclosed | Acts with EBITDA to calibrate payout | Annual cash bonus . |
| RSUs | Time-based | n/a | n/a | n/a | n/a | Quarterly over 3 years . |
| PSUs | Relative TSR vs peer group | n/a | 25th=50%, 50th=100%, 75th=200% | Not disclosed | 0%–200% of target based on percentile rank | Cliff at end of 3-year period . |
Equity Ownership & Alignment
- Trading plan: Adopted a Rule 10b5-1 trading arrangement on September 10, 2025 for the sale of up to 61,325 shares of Delek US common stock; expiration April 15, 2027 .
- Ownership guidelines (company policy): CEO must hold 5x base salary; other executive officers 2x base salary; five years to reach threshold; Human Capital & Compensation Committee monitors compliance .
- Hedging/pledging: Company prohibits speculative transactions (short sales, options, hedging) and pledging of company stock by insiders; grandfathered pledges remain .
| Alignment Item | Detail |
|---|---|
| Rule 10b5-1 plan | Sale plan up to 61,325 shares; expires Apr 15, 2027 . |
| Ownership policy | 2x base salary for other executive officers; monitored by HCC Committee . |
| Hedging/pledging | Prohibited under Code of Conduct; pledges banned (legacy pledges grandfathered) . |
Employment Terms
| Term | Provision |
|---|---|
| Employment status | At-will; conforms to Delek policies . |
| Severance | 1 year of severance for involuntary termination (per offer letter) . |
| Promotion contingency | If EVP promotion at Delek US does not occur by Nov 15, 2025 and he resigns by Mar 31, 2026, eligible for severance equivalent to EVP Change-in-Control terms . |
| Covenants | Customary non-compete, non-solicit, and confidentiality . |
| Indemnification | Company maintains indemnification agreement forms for directors and officers . |
| Location | Brentwood, Tennessee . |
Performance & Track Record
- Earnings-call leadership: Led prepared remarks and operator handoffs on Delek US earnings calls in Q1 and Q2 2025, indicating active public-facing finance leadership during transformation initiatives .
- Company execution backdrop: Management raised EOP free cash flow run-rate target to $130–$170 million in Q2 2025; continued progress on economic separation and liquidity at DKL, relevant to his CFO role at DKL .
Company revenue and EBITDA by quarter:
| Metric | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue ($USD) | $3,942.1M* | $3,128.0M | $3,308.1M | $3,042.4M | $2,373.7M | $2,641.9M | $2,764.6M | $2,887.0M |
| EBITDA ($USD) | -$20.2M* | $124.1M | $28.4M* | $5.0M* | -$34.6M* | -$17.0M* | $82.7M* | $439.9M* |
Values retrieved from S&P Global; asterisks denote values without document citations.
Compensation Structure Analysis
- Mix and risk: Compensation shifts materially toward at-risk pay via annual EBITDA/HSE-driven bonuses and LTI with RSUs and relative-TSR PSUs; options are not a core feature of current executive grants, reducing repricing risk .
- Metric rigor: 2025 AIP caps payouts at target unless the EBITDA threshold of $404 million is met, curbing windfall bonuses absent financial performance .
- Vesting cadence: Quarterly RSU vesting creates steady realized compensation; PSU cliff vesting on 3-year cycles preserves long-term alignment with TSR .
Risk Indicators & Red Flags
- Insider selling pressure: Adoption of 10b5-1 plan to sell up to 61,325 shares through 2027 may introduce steady selling supply; monitor Form 4 filings for execution cadence .
- Change-in-control/severance: Offer letter includes severance protections and promotion contingency tied to EVP terms; ensure alignment with shareholder interests in potential corporate events .
- Hedging/Pledging: Company-level prohibition reduces misalignment risk from hedging or collateralization .
Investment Implications
- Alignment: Cash incentive tied to EBITDA and HSE plus PSU awards linked to relative TSR directly align compensation with operational and market performance; quarterly RSU vesting diversifies realization timing .
- Retention: EVP promotion, defined severance, and LTI eligibility beginning Nov 2025 support retention through multi-year vesting cycles; limited near-term retention risk .
- Selling overhang: The 10b5-1 plan for up to 61,325 shares introduces potential periodic supply; track Form 4 activity around vest dates and blackout windows for trading signal analysis .
- Execution focus: His dual roles (DKL CFO; DK EVP) position him at the center of Delek’s EOP, liquidity, and DK/DKL economic separation; sustained EBITDA performance and TSR relative to peers will drive payout outcomes and signal management execution quality .