Alison Holder
About Alison Holder
Alison Holder, age 48, is Chief Product Officer at Krispy Kreme (DNUT) since January 2025, with more than 24 years at the company across innovation, R&D, marketing, insights, and manufacturing services; she holds a B.S. in Business Administration from High Point University . The company’s executive long-term incentives emphasize pay-for-performance via performance shares tied to 60% ROIC, 20% Net Leverage Ratio, and 20% landfill food waste reduction over a three-year period, aligning executive payouts with financial discipline and sustainability outcomes .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Krispy Kreme, Inc. | Chief Innovation Officer | Not disclosed | Led innovation pipeline and brand/R&D initiatives informing product roadmap |
| Krispy Kreme, Inc. | VP, Global Research, Development & Brand Innovation | Not disclosed | Drove product development/brand innovation across markets |
| Krispy Kreme, Inc. | Senior roles: brand marketing; insights & analytics; R&D; manufacturing services | Not disclosed | Built cross-functional product, analytics, and operations foundation |
External Roles
No external public company directorships or committee roles are disclosed in the company’s executive officer biographies/proxy materials for Ms. Holder .
Performance Compensation
Krispy Kreme’s FY2024 performance share program (for NEOs) is the primary at-risk, long-term component; while Ms. Holder is not a Named Executive Officer (NEO), her equity awards track the same RSU/PSU architecture. Targets and weightings below reflect the company’s PSU plan design.
| Metric | Weighting | Target/Definition | Vesting/Measurement Window |
|---|---|---|---|
| Return on Invested Capital (ROIC) | 60% | Growth of absolute NOPAT divided by cumulative capex over period | 3-year performance period (FY2024–FY2026); payout: 0%–200% of target, linear interpolation |
| Net Leverage Ratio | 20% | Net debt / Adjusted EBITDA, as publicly reported | Same as above |
| Landfill Food Waste Reduction | 20% | Operational ESG metric tied to landfill food waste | Same as above |
Additional design details: shares generally distributed in the first quarter following period-end upon committee certification; 50% of target at threshold, 100% at target, 200% at maximum .
Equity Ownership & Alignment
Beneficial Ownership snapshot (Form 3/A as of event date 1/6/2025)
| Category | Shares | Notes |
|---|---|---|
| Direct common stock | 34,279 | Per Form 3/A footnote (Direct) |
| Unvested RSUs (beneficially owned) | 46,302 | Sum of detailed RSU tranches listed in Form 3/A footnote |
| Total beneficial ownership | 80,581 | Form 3/A Table I total |
Stock ownership guidelines (apply to all executive officers): 3x base salary; 5 years to comply; includes unvested time-based RSUs and earned PSUs; unearned PSUs and unexercised options excluded . Hedging and pledging: prohibited for directors and executive officers (no pledging/margining, no hedges/shorts) . Clawback: effective Oct 2, 2023, recoupment of erroneously awarded incentive-based compensation upon a restatement, covering the prior three completed fiscal years .
Detailed vesting schedule (as disclosed in Form 3/A)
| RSU Award | Shares | Vesting Date |
|---|---|---|
| 4/1/2021 grant | 6,654 | 10/1/2025 |
| 5/17/2021 grant | 8,874 | 11/17/2025 |
| 4/4/2022 grant | 4,140 | 4/4/2025 |
| 4/4/2022 grant | 1,380 | 4/4/2026 |
| 4/4/2022 grant | 1,381 | 4/4/2027 |
| 5/9/2023 grant | 12,245 | 5/9/2026 |
| 5/9/2023 grant | 1,645 | 5/9/2027 |
| 5/9/2023 grant | 1,644 | 5/9/2028 |
| 4/11/2024 grant | 5,004 | 4/11/2027 |
| 4/11/2024 grant | 1,668 | 4/11/2028 |
| 4/11/2024 grant | 1,667 | 4/11/2029 |
Additional 2025 grant/credit and long-dated vest:
- On 10/1/2025, Form 4 reports 104,439 RSUs credited and scheduled to vest on 10/1/2028; the filing also reports 1,910 shares surrendered for tax withholding on vesting, with post-transaction beneficial ownership disclosed in the form .
2025 insider transactions (signals/pressure)
| Date (Reported) | Transaction | Shares | Price/Notes |
|---|---|---|---|
| 4/18/2025 (period 4/17/2025) | Code F – shares withheld for taxes on RSU vest | 1,408 | $4.47 per share, routine withholding |
| 4/10/2025 | Form 4 filed (equity activity) | Not disclosed in link summary | Filing present; issuer cloudfront link |
| 10/01/2025 | RSUs credited; tax withholding on vest | 104,439 credited; 1,910 withheld | RSUs vest 10/01/2028; post-transaction beneficial ownership disclosed |
Compliance note: The company disclosed a 7-day delay in filing Ms. Holder’s initial Form 3 in early 2025 due to difficulties obtaining SEC documentation; this was reported in the 2025 Proxy’s Section 16(a) compliance section .
Fixed Compensation
Specific base salary, target bonus %, and actual bonus for Ms. Holder were not disclosed in the company’s 2025 Proxy (she is not listed among NEOs in the compensation tables) . The company’s annual incentive plan structure and PSU framework described in the CD&A apply to executive leadership and are summarized above .
Employment Terms
- Insider trading, hedging, and pledging: Executive officers are prohibited from hedging, short sales, margining, or pledging company securities .
- Clawback: The Board adopted a broad recoupment policy effective Oct 2, 2023, to recover erroneously awarded incentive compensation following a material restatement (lookback: three completed fiscal years) .
- Ownership policy: Executive officers must hold company stock equal to 3x base salary within five years of appointment/promotion; unvested time-based RSUs count; unearned PSUs and options do not .
- Change-in-control and termination (equity treatment): Company disclosures for NEOs state full acceleration of RSUs/PSUs/NSOs upon death/disability, and acceleration in connection with an involuntary termination without cause or resignation for good reason, or if equity is not assumed/substituted at a change in control; PSUs remain subject to performance certification . Ms. Holder’s specific severance agreement is not disclosed.
Compensation Structure Analysis
- Equity mix and risk: Ms. Holder’s reported equity consists of time-based RSUs (no options listed in Form 3/A), indicating lower downside risk versus options and stronger retention via multi-year vesting cadence .
- Vesting calendar and potential selling pressure: Numerous vest dates through 2029 (notably 10/1/2025, 11/17/2025, 4/4/2026, 5/9/2026, 4/11/2027–2029) imply periodic sell-to-cover transactions (e.g., tax withholding on 4/17/2025 and 10/01/2025) rather than discretionary open-market sales .
- Alignment controls: Strict hedging/pledging prohibitions and a robust clawback strengthen shareholder alignment and mitigate incentive risk .
- Ownership build: A 3x salary ownership requirement with a five-year phase-in reinforces long-term alignment; Form 3/A illustrates accumulating unvested RSUs toward guideline compliance .
Risk Indicators & Red Flags
- Section 16(a) timeliness: One administrative delay (7-day late Form 3) disclosed by the company; root cause attributed to documentation retrieval issues at the SEC, not insider conduct .
- No hedging/pledging: Policy-level prohibition reduces misalignment risk; no exceptions are disclosed for executive officers .
- Equity plan modifications/repricings: No repricing of options or material equity modifications are cited in the referenced sections for 2024–2025 .
Investment Implications
- Retention: Large, staggered RSU tranches through 2029 and a new long-dated 10/1/2028 vest from the 2025 Form 4 create strong retention hooks and predictable sell-to-cover flows around vest dates rather than discretionary selling—reducing headline selling pressure risk .
- Pay-for-performance: PSU metrics concentrate on ROIC and leverage (80% weight combined) plus a defined ESG operational target (20%), signaling discipline around capital allocation and balance sheet health—supportive for quality-of-earnings narratives if execution meets targets .
- Trading signals: Monitor vest dates (10/1/2025, 11/17/2025, 4/4/2026, 5/9/2026, etc.) and associated tax-withholding Form 4s; these are mechanical and should not be misread as negative discretionary selling .
- Governance: Ownership guidelines, clawback, and hedging/pledging bans are shareholder-friendly and reduce misalignment/controversy risk .
Sources: 2025 DEF 14A (executive bios, ownership guidelines, clawback, insider policy), DNUT 10-K cross-reference, and Section 16 Forms 3/3A/4 for Ms. Holder .