Kevin Kastner
About Kevin Kastner
Kevin Kastner (age 55) is Chief Revenue Officer at ECD Automotive Design, appointed November 11, 2024, under a one-year employment agreement that automatically renews unless either party gives 30 days’ notice . He studied Mechanical Engineering at the University of Oklahoma and Southern Nazarene University and previously held sales and marketing leadership roles across automotive parts, lubricants, motorsports, and marine segments . ECD’s proxy materials do not disclose TSR, revenue growth, or EBITDA growth tied to Kastner’s tenure; the bonus plan is contingent on unit sales and revenue KPIs, with job targets calling for minimum 10% annual growth in unit sales and price points .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Moss Motors Ltd. | Director of Sales and Marketing | n/a | Enhanced brand presence in classic British auto parts |
| AMSOIL, Inc. | Marketing Manager | n/a | Drove growth for synthetic lubricants and fuel additives |
| Iron Dog | CEO | 7 years | Led world’s longest, toughest snowmobile race; resilience in challenging markets |
| MacKinnon Marine (Alumaski’s) | Marketing Director and CEO | n/a | Helped launch commercial utility boat segment |
External Roles
| Organization | Role | Committee/Board | Status |
|---|---|---|---|
| Public company boards | — | — | Not disclosed in filings |
| Non-profit/academic boards | — | — | Not disclosed in filings |
Fixed Compensation
| Year | Base Salary (USD) | Other Cash/Perqs (USD) | Notes |
|---|---|---|---|
| 2024 | $250,000 | $250,000 | Employment start 11/11/2024; relocation package $20,000; demo vehicle; healthcare premiums paid; 401(k) match up to 4% |
| 2025 (plan terms) | — | — | Agreement auto-renews; benefits maintained; PTO 20 days/yr (no carryover; forfeiture upon separation to extent permitted by law) |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout Mechanics | Vesting |
|---|---|---|---|---|---|
| Discretionary annual bonus (revenue/unit KPIs) | — | Up to $75,000/year contingent on unit sales and revenue KPIs; paid quarterly at Board’s discretion | — | Must be employed on payment dates; Board may consider total revenue, profitability, and other factors | Cash; no vesting |
| Unit sales growth | — | Minimum 10% annual growth in unit sales and price points | — | Supports bonus eligibility; KPI reporting required | — |
| Marketing efficiency | — | 2% of unit revenue budget; conversion rates as core KPI | — | Supports sales funnel performance reporting | — |
The company’s broader NEO framework contemplates equity incentives under the 2023 Equity Incentive Plan; awards to Kastner are at Compensation Committee discretion and documented separately if granted .
Equity Ownership & Alignment
- Section 16(a) compliance: For FY2024, all officers/directors filed timely except the CFO had one late Form 4; no exceptions noted for Kastner .
- Equity plan capacity: Plan share reserve was increased from 400,000 to 2,500,000 shares in 2024 and further proposed to 15,000,000 shares in 2025, enabling future grants that could improve pay-performance alignment .
- Clawback policy: Company adopted a clawback policy consistent with Nasdaq/Exchange Act Section 10D to recoup excess incentive compensation upon restatement .
- Insider trading policy: Adopted and filed as an exhibit to the 2024 Form 10-K .
Filings reviewed do not disclose Kastner’s beneficial ownership totals, pledged shares, or exercisable/unexercisable option balances. No specific RSU/PSU grants to Kastner are disclosed in the proxies or 8-K reviewed .
Employment Terms
- Term and renewal: Initial one-year term from December 9, 2024, auto-renewing for successive one-year periods unless non-renewal notice given ≥30 days prior .
- Base/bonus: Salary $250,000; discretionary bonus up to $75,000/year contingent on unit sales and revenue KPIs, determined by Board and paid quarterly; must be employed on payment dates .
- Benefits/perqs: Company-paid healthcare/vision/dental premiums; spouse discounted option; 401(k) match up to 4%; demo vehicle; one-time relocation $20,000; phone/professional development .
- PTO: 20 days/year; no carryover; forfeiture of accrued but unused PTO upon separation to the extent permitted by law .
- Severance (without cause or for Good Reason): Salary continuation based on tenure: 2 months (<1 year), 4 months (≥1 year), 6 months (≥2 years), 8 months (≥3 years), 10 months (≥4 years), 12 months (≥5 years), plus accrued/unpaid salary, reimbursable expenses, and benefits per plan terms; conditioned on restrictive covenant compliance and release .
- Definitions:
- Cause includes felony/indictment, material failure to perform/follow directions, theft/fraud, gross negligence/willful misconduct with material impact, or material breach (with 30-day cure where applicable) .
- Good Reason includes relocation >100 miles from Kissimmee FL, material title/position reduction, Company material breach, or material salary reduction (30-day cure) .
- Restrictive covenants:
- Non-compete: During employment and one year post-termination, in U.S. and U.K. .
- Non-solicit: Customers, suppliers, employees during restricted period .
- Non-disparagement: During restricted period .
- Confidentiality/trade secrets; IP assignment and “work for hire” .
- Change-in-control economics: Agreement disallows payments that would trigger 280G excise tax; Equity Plan authorizes the Committee to accelerate vesting upon change of control at its discretion (not specified as single vs. double trigger) .
- Governance/legal: Florida law; jury trial waiver; attorneys’ fees to prevailing party; notice addresses specified .
Investment Implications
- Pay-for-performance alignment: Bonus directly tied to revenue and unit sales KPIs, with explicit operational targets (≥10% unit/price growth), suggesting near-term cash incentives linked to commercial execution . Absence of disclosed equity grants to Kastner limits long-term stock alignment currently; expanded plan capacity could change mix going forward .
- Retention risk: Auto-renewing one-year term with non-compete/non-solicit and tenure-based severance provides moderate retention and exit friction; severance scales with tenure but requires covenant compliance and a release .
- Insider selling pressure: No Form 4 exceptions noted for Kastner and no disclosed equity holdings or vesting schedules, indicating limited near-term selling pressure from vested equity; monitor potential future grants under enlarged plan .
- Governance safeguards: Adopted clawback and insider trading policies mitigate adverse incentives and restatement risks; 280G constraint reduces golden parachute risk .
- Execution risk: Role mandates aggressive growth and conversion optimization with KPI reporting; performance bonus is discretionary and contingent on measurable outcomes, heightening reliance on sales execution in premium, bespoke automotive segments .