Paz Maestas
About Paz Maestas
Paz Maestas is Senior Vice President/Chief Marketing & Technology Officer at DXP Enterprises (appointed January 2021), age 45, with 20+ years at DXP since 2002 leading e‑Commerce and omni‑channel initiatives; he holds a B.S. from the University of Texas at Austin . Company performance under the current leadership framework in FY2024: sales ~$1.8B (+6% YoY), Adjusted EBITDA $191.3M (+10% YoY), net income $70.4M, ROIC 39% . Pay-versus-performance disclosures show 2024 DXP TSR indexed at $207 vs a $184 peer composite, alongside Adjusted EBITDA $191.3M and net income $70.4M .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| DXP Enterprises | Senior VP/Chief Marketing & Technology Officer | Jan 2021–present | Leads e‑Commerce and omni-channel initiatives; technology and marketing leadership to drive growth |
| DXP Enterprises | Vice President of Marketing and Operations (prior role) | Pre‑2021 | Operational and marketing leadership preceding elevation to SVP/CMTO |
| DXP Enterprises | Various roles since joining | 2002–present | Progressive responsibilities culminating in enterprise digital/marketing leadership |
External Roles
- No external directorships or outside public company roles disclosed for Maestas in the executive officer biography section .
Fixed Compensation
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary ($) | 200,000 | 300,000 | 350,000 |
| Salary YoY Change ($ / %) | — | +100,000 / +50.0% | +50,000 / +16.7% |
| Actual Annual Cash Bonus ($) | 250,000 | 300,000 | 262,521 |
| Actual Bonus (% of Base) | 125.0% | 100.0% | 75.0% |
| All Other Compensation ($) | 11,914 | 21,000 | 17,160 |
Notes:
- 2024 bonus for Maestas equaled 75% of base salary under the approved formula tied to profit before income tax with “Maintenance” and “Growth” Incentive Factors; 2024 growth factor cap for Maestas was 1.25% .
Performance Compensation
Short-Term Incentive (STI) – Cash
| Metric | Weighting | Target | 2024 Actual | Payout | Vesting/Timing |
|---|---|---|---|---|---|
| Profit Before Income Tax (Maintenance and Growth Incentive Factors; cap for Maestas Growth Factor 1.25%) | Not disclosed | Company-set maintenance threshold; sliding-scale factors | Company achieved results supporting payouts per plan | 75% of base salary = $262,521 | Paid quarterly in cash |
Additional STI design reference: 2024 measures cited include Normalized EPS and Normalized EBITDA in the compensation framework overview .
Long-Term Incentive (LTI) – Restricted Stock
| Metric | Weighting | Target (FY2024) | 2024 Actual | 2024 Grant (Maestas) | Vesting |
|---|---|---|---|---|---|
| Adjusted EBITDA-based LTI; performance-based RSAs | Not disclosed | EBITDA $180M or ≥3.3% YoY growth | Adjusted EBITDA $191.3M | 5,583 shares, Grant Date 3/28/2024; Grant-date FV $300,000 | RSAs vest 1/3 per year; no dividends prior to vesting |
Payout schedule (for performance-to-target): 70%→50%, 80%→75%, 90%→90%, 98%→100%, 105%→110%, 115%→125%, 125%→150%, 135%→200% .
2024 stock awards that vested: 3,584 shares vested for Maestas in 2024; value realized $192,568 .
Equity Ownership & Alignment
| Holding | Amount | %/Status | Notes |
|---|---|---|---|
| Common Stock Beneficially Owned | 613,737 shares | 3.9% of common outstanding | As of record date April 21, 2025 (15,694,140 common outstanding) |
| Series B Preferred Stock | 5,000 shares | 33.33% of Series B (15,000 outstanding) | 6% annual dividend; $100/share liquidation preference; convertible into common pursuant to terms; 1/10 vote per share; redeemable ≥5 years from issuance per Certificate of Formation |
| Options | None | — | No option awards held by NEOs as of 12/31/2024 |
| Unvested RSAs (as of 12/31/2024) | 1,108 (3/31/2022); 4,952 (3/31/2023); 5,583 (3/28/2024) | Unvested; market values $90,945; $406,460; $458,253 respectively | RSAs vest 1/3 annually; grants typically in late March following earnings |
| 2024 Shares Vested | 3,584 | Value realized $192,568 | Indicates vest-driven supply/withholding around vest dates |
Policies affecting alignment and selling pressure:
- Hedging/short sales prohibited for directors and executive officers .
- Pledging allowed only with CFO approval and aggregate insider pledges capped at 10% of outstanding common; margin accounts similarly restricted .
- Clawback policy compliant with NASDAQ and company governance guidelines; allows recovery of incentive compensation after restatements and for misconduct .
Employment Terms
| Item | Disclosure |
|---|---|
| Employment Agreement | None disclosed for Maestas; only CEO has an employment agreement |
| Severance/COC | None for NEOs other than CEO; acceleration of equity may occur under 2016 Omnibus Incentive Plan |
| Non-compete/Non-solicit | Not disclosed |
| Clawback | Financial restatement-based recovery; broader misconduct-based recovery per Governance Guidelines |
| Insider Trading Policy | Applies to all directors/officers; compliance with securities laws; prohibits speculative transactions |
| Section 16(a) Compliance | One late Form 4 filed by Maestas for one transaction in FY2024 |
Related party context (governance risk consideration):
- Maestas is son-in-law of CEO David Little; 2024 compensation to Maestas totaled $929,681 per SCT; related party section also details certain family interests in leases (not attributed to Maestas personally) .
Multi-Year Compensation Summary (NEO SCT)
| Component ($) | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary | 200,000 | 300,000 | 350,000 |
| Stock Awards (Grant-date FV) | 90,000 | 200,000 | 300,000 |
| Non-Equity Incentive (Cash Bonus) | 250,000 | 300,000 | 262,521 |
| All Other Compensation | 11,914 | 21,000 | 17,160 |
| Total | 551,914 | 821,000 | 929,681 |
Grants and Outstanding Equity Detail (Maestas)
| Grant Date | Instrument | Shares/Units | Grant-Date FV ($) | Status as of 12/31/24 |
|---|---|---|---|---|
| 3/28/2024 | Restricted Stock (RSA) | 5,583 | 300,000 | Unvested; MV $458,253 |
| 3/31/2023 | Restricted Stock (RSA) | 4,952 | — | Unvested; MV $406,460 |
| 3/31/2022 | Restricted Stock (RSA) | 1,108 | — | Unvested; MV $90,945 |
| 2024 Vesting | RSA vesting | 3,584 | — | Vested; Value realized $192,568 |
Granting/vesting mechanics:
- Annual grants typically approved at February Compensation Committee meeting; grant date generally in late March following earnings; RSAs vest 1/3 annually; no dividends before vest .
Performance & Track Record (Context)
| Performance Measure | 2024 Result |
|---|---|
| Sales | ~$1.8B (+6% YoY) |
| Net Income | $70.4M |
| Adjusted EBITDA | $191.3M (+10% YoY) |
| ROIC | 39% |
| Total Shareholder Return (Indexed) | DXP: $207; Peer Composite: $184 |
| Capital Allocation | $156.6M across 7 acquisitions; $28.8M share repurchases |
Say‑on‑Pay/Governance signals:
- 2024 Say‑on‑Pay approval >91% .
- Independent compensation consultant (NFP, formerly Longnecker) engaged for market benchmarking; program emphasizes variable, at‑risk pay and pay‑for‑performance .
Investment Implications
- Alignment: Significant insider ownership (613,737 common; 3.9% of outstanding) plus Series B preferred (5,000 shares; 33.33% of series with 6% dividend) indicates high “skin-in-the-game” and economic alignment; no options outstanding; equity vests over three years, supporting retention .
- Incentive design: STI tied to profit before tax (with factor caps) and LTI tied to Adjusted EBITDA targets; 2024 EBITDA exceeded target ($191.3M vs $180M), supporting at/above-target LTI outcomes and reinforcing operational focus on cash flow/earnings quality .
- Selling pressure: Annual vesting tranches around late March (e.g., 2022/2023/2024 grants), evidenced by 3,584 shares vesting in 2024; monitor Form 4s around vest dates for liquidity events .
- Retention/COC risk: No employment agreement or severance/change‑of‑control cash protections for Maestas; retention rests primarily on unvested equity and long-term value creation .
- Governance risks: Related‑party relationship (son‑in‑law of CEO) and one late Form 4 filing noted; pledging permitted with CFO approval and aggregate cap, but no specific pledges disclosed for Maestas; company maintains hedging prohibitions and robust clawback .
- Net take: Incentives are levered to profitability and EBITDA, while meaningful personal ownership (including preferred equity) aligns behavior with shareholders. Watch for vest‑date supply, any changes to STI/LTI metrics, and related‑party optics as governance risk factors relative to performance outcomes .