David Molero Santos
About David Molero Santos
Vice President and Chief Accounting Officer at DXP Enterprises (DXPE) since May 22, 2023; age 43 as of the 2025 proxy. He is a CPA with 20+ years of public company accounting experience, previously serving as Chief Accounting Officer at AgileThought and spending 16+ years at PricewaterhouseCoopers in audit and capital markets advisory focused on SEC reporting clients . Education: Bachelor’s in Business Administration & Management (Loyola University, Córdoba, Spain) and Master’s in Audit (University of Alcalá, Madrid, Spain); Texas-licensed CPA . During FY2024 under the broader DXPE leadership, sales were ~$1.8B, net income $70.4M, adjusted EBITDA $191.3M, with ROIC of 39% and a $100 investment TSR of $207 vs peer group $184 .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| AgileThought, Inc. | Chief Accounting Officer | Aug 2021–May 2023 | Led public-company accounting; AgileThought is a provider of digital transformation services |
| PricewaterhouseCoopers (PwC) | Audit and Capital Markets Advisory (various roles) | 16+ years | SEC reporting-focused audit/advisory experience for public companies |
External Roles
- No public-company directorships or external board roles disclosed in DXPE filings for Molero .
Fixed Compensation
| Component | 2023 terms at appointment | Notes |
|---|---|---|
| Base salary | $270,000 per year | As contemplated in Item 5.02 appointment terms |
| Target short-term bonus | 30–40% of base salary | Subject to performance requirements |
| Target long-term incentive | 15–20% of base salary | Equity-based; subject to performance requirements |
| Sign-on equity | 1,576 RSAs | Vest over 3 years |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Short-term bonus (CAO) | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Cash; subject to performance requirements |
| Long-term incentive (CAO) | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Equity; RSAs vest over 3 years |
Company-wide context: NEO programs use normalized EPS and normalized EBITDA for annual cash incentives, and EBITDA targets for long-term equity grants (2024 target $180M; 2024 actual adjusted EBITDA $191.3M); thresholds map from 50% payout at 70% of target up to 200% payout at 135%+ of target. CAO-specific weightings/targets are not disclosed .
Equity Ownership & Alignment
| Item | Amount | Detail |
|---|---|---|
| Beneficial ownership (common) | 5,911 shares | As of April 21, 2025; <1% of outstanding |
| Shares outstanding basis | 15,694,140 shares | Record date for proxy |
| Ownership as % of outstanding | ~0.038% | Computed: 5,911 / 15,694,140; derived from filings |
| Vested vs unvested | Not disclosed | No breakdown provided in filings |
| Pledged shares | Not disclosed | DXPE restricts pledging; CFO pre-approval required; aggregate pledges by directors/executives capped at 10% of outstanding shares |
| Hedging policy | Prohibited | No puts/calls/short sales permitted for insiders |
| Ownership guidelines | Not quantified | Company monitors executive stock ownership; specific numeric guidelines not disclosed |
Employment Terms
| Term | Detail |
|---|---|
| Start date | May 22, 2023 (appointed CAO) |
| Reporting line | Reports to SVP/CFO Kent Yee |
| Contract term | Not disclosed |
| Severance | Not disclosed |
| Change-of-control | Not disclosed; equity may be subject to plan terms (2016 Omnibus Incentive Plan) |
| Non-compete / non-solicit | Not disclosed |
| Clawback | Company has clawback policy aligned to NASDAQ listing standards and separate Board authority to claw back incentive comp upon restatements or misconduct |
| Insider trading | Company insider trading policy applies to all officers |
Investment Implications
- Alignment: Ownership is modest at ~0.038% of outstanding shares, but anti-hedging/pledging policies and a three-year vest on 1,576 sign-on RSAs provide retention incentives and limit misalignment risks .
- Compensation structure: CAO package emphasizes performance-linked cash (30–40% of base) and equity (15–20% of base), consistent with DXPE’s pay-for-performance philosophy; specific CAO metrics are not disclosed, but company NEOs focus on EPS/EBITDA and EBITDA-based LTI targets, indicating linkage to financial outcomes .
- Governance and risk controls: Robust clawback, insider trading, and pledging restrictions reduce governance and trading-risk flags; Molero had no late Section 16 reports cited for FY2024, and his appointment disclosed no related-party transactions or special arrangements .
- Execution backdrop: DXPE’s FY2024 performance (sales ~$1.8B, adj. EBITDA $191.3M, ROIC 39%, TSR $207 vs peers’ $184) provides a favorable operating context; for a CAO, strong process/controls and SEC reporting proficiency are key to sustaining execution quality and could support continued investor confidence in financial reporting integrity .