Chad Uplinger
EnerSysAbout Chad Uplinger
Chad C. Uplinger, age 53, is President, Motive Power Global at EnerSys (ENS). He joined EnerSys in 1999 and has held roles across sales and marketing; he became President, Motive Power Global in November 2023 after serving as VP, Motive Power Americas since 2017 and earlier leadership posts in specialty markets and district management. He holds a B.S. in Marketing Management from PennWest California and led the launch of TPPL maintenance-free solutions in material handling—an inflection contributing to migration toward maintenance-free power in the segment . Company operating execution in FY2025 included modest sales growth and strong profitability expansion (Sales $3,617.6M; Operating Earnings $464.7M; EBITDA $558.6M; Diluted EPS $8.99; adjusted metrics higher), reflecting pricing/mix, cost optimization, and specialty/defense strength .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| EnerSys | District Manager, Mid-Atlantic | Apr 2002–Apr 2013 | Regional commercial leadership and market development |
| EnerSys | General Manager, Motive Power Specialty Markets | Apr 2013–Nov 2017 | Specialty market expansion; foundation for TPPL deployments |
| EnerSys | Vice President, Motive Power, Americas | Nov 2017–Nov 2023 | Led successful TPPL maintenance-free launch into material handling; accelerated conversion to maintenance-free power |
| EnerSys | President, Motive Power Global | Nov 2023–Present | Global leadership of Motive Power portfolio and execution |
External Roles
- None disclosed .
Fixed Compensation
| Metric | FY 2024 | FY 2025 |
|---|---|---|
| Base Salary ($) | $400,000 | $415,000 |
| Target MIP Bonus ($) | — | $287,920 (grant target) |
| Actual MIP Bonus Paid ($) | $224,652 | $375,863 |
Perquisites (FY2025):
- 401(k) match: $13,339
- Car allowance: $18,025
- EV charging installation and electricity stipend: $1,565
Performance Compensation
Annual MIP design and FY2025 results (Company-level):
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Adjusted Operating Earnings (in $MM) | 60% | $498 | $498.403 | 101% | Cash paid May 2025 |
| Primary Operating Capital (%) | 20% | 26.8% | 25.1% | 200% | Cash paid May 2025 |
| Non-Financial Transformational Quantitative (NFTQ) Goals (# achieved) | 20% | 6 | 7 | 150% | Cash paid May 2025 |
| Overall MIP Payout (as % of target) | — | — | — | 130.5% | — |
Individual MIP grant parameters (FY2025):
- Threshold: $43,188; Target: $287,920; Maximum: $575,840 .
Long-term incentives (FY2025 awards granted Aug 9, 2024):
| Award Type | Units | Grant Date | Vesting | Strike/Terms | Grant-Date Fair Value |
|---|---|---|---|---|---|
| Premium-Priced Stock Options | 14,577 | 08-09-2024 | 1/3 annually over 3 years | $103.73 strike; 10-year term | $34.30 per option |
| Time-Vested RSUs | 5,302 | 08-09-2024 | 25% annually over 4 years | N/A | $94.30 per RSU |
Vesting schedule details (unvested RSU tranches as of 03-31-2025):
- 704 units: one-fourth vested Aug 16, 2022/2023/2024; remaining on Aug 16, 2025
- 1,989 units: one-fourth vested Aug 12, 2023/2024; remaining on Aug 12, 2025/2026
- 1,973 units: one-fourth vested Aug 11, 2024; remaining on Aug 11, 2025/2026/2027
- 5,342 units: scheduled Aug 9, 2025/2026/2027/2028
FY2025 exercises/vesting:
- Options exercised: 0
- Shares acquired on RSU vesting: 3,180.4222; value realized $302,483
Equity Ownership & Alignment
| Ownership Metric | Value |
|---|---|
| Beneficial Ownership (shares) | 19,222 |
| Shares Outstanding (Record Date 06-04-2025) | 38,593,213 |
| Ownership as % of Shares Outstanding | 0.05% (19,222 ÷ 38,593,213) |
| Vested Stock Options Included in Beneficial Ownership | 11,684 |
| Unvested RSUs (counts by grant) | 704; 1,989; 1,973; 5,342 |
| Options exercisable (legacy tranches) | 2,323; 3,434; 3,005; 922 (various strikes) |
| Options unexercisable (new FY2025 tranche) | 14,577 |
| Policy on Hedging/Pledging | Prohibited for employees (incl. executives) |
| Stock Ownership Guidelines | 3x base salary for NEOs; 5-year attainment; quarterly monitoring |
| Compliance Status | NEOs have achieved or are on track as of 03-31-2025 |
Option strike levels (indicative legacy grants):
- $75.39; $91.81; $70.88; $94.71; latest $103.73 .
Employment Terms
| Term | Details |
|---|---|
| Employment Agreement | Not party to any employment or severance letter agreement |
| Non-Compete / Non-Solicit | Not applicable (no severance letter); company severance letters for other execs include 1-year non-compete/non-solicit |
| Clawback Policy | SEC/NYSE-compliant, mandatory recovery of excess incentive comp upon accounting restatement; applies to current/former Section 16 officers |
| Change-of-Control Treatment | Double-trigger acceleration applies to equity awards at EnerSys; no single-trigger cash benefits for Uplinger |
| Potential Payments (Death/Disability) | Accelerated options value $43,553; RSUs $913,144; Total $956,697 |
| Potential Payments (Following Change-in-Control) | Accelerated options value $43,552; RSUs $913,144; Total $956,696 |
| Excise Tax Gross-Ups | None (no gross-ups in exec severance arrangements) |
| Deferred Compensation | Executive plan exists; no current NEO participation |
Investment Implications
- Pay-for-performance alignment: A substantial share of Uplinger’s compensation is variable—company MIP paid 130.5% of target driven by operating earnings, primary operating capital, and strategic NFTQs; FY2025 equity grants are balanced 50/50 between premium-priced options (10% above market strike) and multi-year RSUs, reinforcing long-term value creation and retention .
- Near-term selling pressure: No option exercises in FY2025; upcoming RSU vestings in August cycles (Aug 9/11/12/16) may trigger administrative share withholding or sales for tax, creating predictable but limited supply; overall ownership is ~0.05% of outstanding shares, with large unvested RSU tranches that vest over 2025–2028 .
- Retention risk low-to-moderate: Absence of cash severance rights suggests no guaranteed payout; however, significant unvested equity, ownership guideline requirements, and anti-hedging/pledging policy support alignment and retention through multi-year vesting .
- Governance safeguards: Robust clawback, no excise tax gross-ups, double-trigger equity vesting under change-in-control, and quarterly monitoring of ownership guidelines indicate strong shareholder-centric design; say-on-pay support at 95.2% underscores investor acceptance of pay framework .