Robert Martinez
EXPEDITORS INTERNATIONAL OF WASHINGTONAbout Robert Martinez
Robert A. Martinez (age 44) is President, Global Products at Expeditors, effective June 1, 2025; he joined the company in 2003 and progressed through operations and regional leadership roles before his appointment . He is a licensed U.S. Customs Broker, IATA/FIATA certified, and holds a bachelor’s degree in international business and economics from the University of Mount Union . Company performance drivers tied to executive pay emphasize Operating Income, EPS, and Net Revenues (non-GAAP); recent results include Q3 2025 revenues of $2.895B, operating income of $288.0M, and diluted EPS of $1.64 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Expeditors | Customs Brokerage Representative (Laredo, TX) | 2003 | Entry into operations and compliance |
| Expeditors | Management Trainee (Dallas, TX) | 2004 | Completed formal leadership development program |
| Expeditors | District Manager (McAllen, TX) | 2004–2011 | District leadership and commercial execution |
| Expeditors | Distribution Manager (El Paso, TX) | 2011 | Scaled distribution operations and processes |
| Expeditors | District Manager (El Paso, TX) | 2013–2017 | Achieved District of the Year (Americas) and Global District of the Year in 2016 |
| Expeditors | Regional Director (Mexico) | 2017–2019 | Expanded network and regional performance |
| Expeditors | Regional Vice President (Mexico & Southern Border) | 2019–2023 | Oversaw employees, operations, and business development across the region |
| Expeditors | Senior Vice President (The Americas) | Oct 2023–May 2025 | Drove operations and growth across The Americas (over 6,500 employees in 13 countries) |
| Expeditors | President, Global Products | Jun 2025–present | Leads global strategy and development of core transportation solutions and services |
Fixed Compensation
- Not specifically disclosed for Martinez. Expeditors’ broader executive compensation philosophy emphasizes modest base salaries with the majority of pay “at-risk” and aligned to performance; base salaries for NEOs have historically been $100,000, but Martinez’s personal base salary has not been publicly filed .
Performance Compensation
- Company performance metrics used to link executive compensation to pay include Operating Income, EPS, and Net Revenues (non-GAAP); payouts from the Executive Incentive Compensation Pool are formulaically tied to U.S. GAAP operating income (up to 10% pre-bonus), with reductions if operating income growth is ≤5% .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Operating Income | Not disclosed for Martinez | Not disclosed | Company uses GAAP Operating Income to fund incentive pool (up to 10%) | Incentive allocations determined by Committee; reduced 5% if OpInc growth ≤5% | Cash incentives follow quarterly/annual determinations; equity follows plan terms |
| EPS | Not disclosed for Martinez | Not disclosed | Included among most important measures for executive pay | Incorporated in PSU outcomes per plan design | PSU vests at end of performance period; converts within 73 days |
| Net Revenues (non-GAAP) | Not disclosed for Martinez | Not disclosed | Included among most important measures for executive pay | Incorporated in PSU outcomes per plan design | PSU vests at end of performance period; converts within 73 days |
- Equity awards under the Amended and Restated 2017 Omnibus Incentive Plan include RSUs that typically vest annually over three years, and PSUs that vest at the end of a multi-year performance period with conversion to shares within 73 days post-period; Martinez’s specific 2025 award terms are not disclosed .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership (Common Stock) | 2,070.315 shares (direct) |
| Derivative securities (unvested awards) | RSUs: 150; RSUs: 1,804; RSUs: 5,652; Dividend Equivalent Rights on 2023 RSUs: 3.802 |
| Ownership as % of shares outstanding | Approximately 0.0015% (2,070.315 ÷ 138,000,000 shares outstanding as of Dec 31, 2024) |
| Pledging/Hedging | Company prohibits hedging or pledging by employees and Directors; 2025 proxy reports no pledging by Directors/Executive Officers |
| Stock ownership guidelines | Company maintains executive and outside Director ownership guidelines (specific executive multiples not disclosed) |
Note: RSU entries reflect outstanding derivative securities from Martinez’s Form 3; vesting schedules and grant dates for these units are not specified in the filing excerpt .
Employment Terms
| Term | Company Practice/Disclosure |
|---|---|
| Employment agreement form | Expeditors maintains a general executive employment agreement; recent agreements for executive officers include similar terms |
| Base salary and incentives | Compensation set by the Compensation Committee; incentives aligned to performance; terms established in executive agreements |
| Contract term | Initial term through next annual Board meeting; auto-renews for additional one-year terms upon re-election as executive officer |
| Non-compete | Six-month non-compete following termination (as reflected in 2025 executive agreements) |
| Non-solicit | Twelve-month non-solicitation following termination (as reflected in 2025 executive agreements) |
| Confidentiality | Broad trade secret and confidential information obligations (as reflected in executive agreements) |
| Dispute resolution | Arbitration before AAA in Seattle, WA; three-arbitrator panel; majority vote |
| Severance | Severance benefits provided upon termination without cause, subject to release (specific multiples not disclosed) |
| Change-of-control | Double-trigger vesting of unvested equity upon change-in-control; seeks shareholder approval for termination benefits >2.99x salary + target bonus |
| Clawback | Incentive Compensation Recovery Policy in place |
Investment Implications
- Alignment: Martinez’s equity-heavy profile (common and RSUs) and company policies that tie incentives to Operating Income/EPS drive pay-for-performance alignment and mitigate agency risks; hedging/pledging are prohibited, and ownership guidelines are maintained .
- Retention and mobility: The six-month non-compete and 12-month non-solicit standard terms reduce immediate competitive exit risk; auto-renewal one-year agreements support continuity while preserving Board flexibility .
- Vesting cadence and potential selling pressure: RSUs at Expeditors typically vest over three years, creating periodic delivery events that can coincide with liquidity needs; absent specific grant schedules for Martinez, investors should monitor PSU/RSU vest timing once filed to anticipate potential sales around vest dates .
- Execution track record: Martinez’s deep internal tenure and operational wins (e.g., 2016 district awards) plus leadership of a large Americas footprint suggest strong domain execution, which is supportive as he steers Global Products strategy in a freight environment that remained unpredictable in 2025 .
- Compensation governance: The incentive pool’s formulaic linkage to GAAP operating income, payout reductions when growth is ≤5%, double-trigger change-in-control vesting, active clawback policy, and use of an independent consultant indicate disciplined compensation oversight; peer benchmarking references leading logistics/transport names, reducing pay inflation risk from peer selection .