Kyle Crockett

About Kyle Crockett

Kyle Crockett is Ford Motor Company’s Chief Accounting Officer (CAO), effective the first business day after Ford filed its Q2 2025 Form 10‑Q; he signed Ford’s Q3 2025 Form 10‑Q on October 23, 2025 as principal accounting officer . He is 51 years old and brings extensive experience in accounting, SEC and financial reporting, internal controls, process transformation, and tax, having previously served as Vice President, Controller and CAO at Carrier Global (Jan 2020–May 2025) and held senior finance and SEC reporting roles at General Motors for more than a decade . Ford’s 2024 operating performance provides useful context for compensation alignment: record revenue of approximately $185 billion (+5% YoY) and EBIT of $10.2 billion, while falling short on Adjusted EBIT margin and quality goals; the Annual Performance Bonus Plan business performance factor for 2024 was 69% and long‑term PSUs are 100% tied to three‑year relative TSR versus an automotive peer group (one‑year rTSR percentile for 2024 was 63%) .

Past Roles

Organization	Role	Years	Strategic Impact
Carrier Global Corporation	Vice President, Controller & Chief Accounting Officer	January 2020 – May 2025	Established global controllership, implemented culture of quality/accountability/collaboration, streamlined business portfolio and simplified technology footprint .
General Motors Company	Senior finance, accounting, and SEC reporting positions	More than a decade (dates not disclosed)	Led process transformation to drive global standardization, improve quality/efficiency, and enhance insight for decision making .

External Roles

No public-company directorships or external board roles disclosed for Kyle Crockett in Ford’s filings reviewed .

Fixed Compensation

Component	Amount/Term	Notes
Base salary	$575,000 (pro‑rated in 2025)	Approved by the Compensation, Talent and Culture Committee in connection with CAO appointment .
Annual bonus target	75% of base salary	Under Ford’s Annual Performance Bonus Plan .
Sign‑on bonus (cash)	$1,750,000	$1,500,000 paid immediately after start; $250,000 paid on one‑year anniversary of start date .
Relocation	Standard relocation expenses	Per Ford’s relocation policy for new hires .

Performance Compensation

Incentive Type	Metric(s)	Weighting	Target/Scale	Actual/Payout	Vesting/Timing
Annual Performance Bonus Plan	Company Adjusted EBIT Margin; Quality (Repairs/1,000 in first 90 days); Global EV Retail Volume; Connected Services Revenue	Not disclosed by individual; plan uses metric weightings set by Committee	Plan allows 0%–200% payouts; business performance factor for 2024 was 69% (context)	2024 company‑level factor: 69% (Named Executives); individual factors vary; Kyle’s 2025 payout not disclosed	Cash paid following year; annual cycles .
Annual Stock Award Target	$600,000 total equity target	40% RSUs; 60% PSUs	RSUs time‑vest; PSUs 0%–200% based on rTSR	Individual grants/values for Kyle not yet disclosed beyond sign‑on; PSUs follow Company LTIP design	RSUs vest 1/3 per year; PSUs pay out after 3‑year period .
PSUs (LTIP)	Three‑year relative TSR vs auto OEM peer group (BMW, GM, Toyota, Tesla, VW, etc.)	100% rTSR for 2024‑granted PSUs	Maximum 200% of target; target at 50th percentile	One‑year rTSR percentile for 2024 was 63%; final awards determined at end of 3‑year period	Paid in unrestricted common stock after performance period; dividend equivalents accrue and pay proportionally; double‑trigger change‑in‑control provision applies .
RSUs (LTIP)	Time‑based vesting	N/A	Typically 1/3 after each of first, second, third anniversaries	N/A (time‑based)	RSUs generally vest 33%/33%/34% over 3 years; subject to non‑compete and other conditions; dividend equivalents accrue and pay at vesting .
Sign‑on RSUs	Time‑based vesting	N/A	Vest 33% one year from grant, 33% two years, 34% three years	N/A	Granted under 2023 LTIP; vest schedule as above; Form 3 shows 214,843 “Ford Stock Units” scheduled to begin vesting June 4, 2026 (33%, 33%, 34%) .

Equity Ownership & Alignment

Item	Detail
Total beneficial ownership (initial)	Form 3 filed for Kyle Crockett indicates 214,843 Ford Stock Units under LTIP; ownership form: Direct (D) .
Vested vs unvested	Units are scheduled to vest over three years beginning June 4, 2026: 33%, 33%, 34%; settled in common stock upon vesting .
Options	None disclosed for Kyle Crockett in reviewed filings .
Hedging/Pledging	Ford prohibits officers from hedging exposure to Ford common stock and limits pledging; grants conditioned on non‑compete and non‑disclosure; double‑trigger change‑in‑control applies to equity .
Dividend equivalents	Accrue on RSUs/PSUs and pay in cash at vesting/final award, proportional to payout percentages (no dividend equivalents paid during vesting/performance periods) .
Ownership guidelines	Ford maintains robust stock ownership guidelines for Named Executives; specific multiple for CAO not disclosed in reviewed materials .

Employment Terms

Term	Detail
Appointment & start	Board approved appointment as CAO on May 7, 2025; expected to join Ford on May 19, 2025; effective as CAO the first business day after Q2 2025 Form 10‑Q filing (Q2 10‑Q signed July 30, 2025 by outgoing CAO; Q3 10‑Q signed by Kyle on Oct 23, 2025) .
Compensation committee actions	Base salary, annual bonus target, annual stock award target, and sign‑on bonus approved by Committee .
Severance	Not disclosed for Kyle Crockett in reviewed filings .
Change‑in‑control	Equity grants include double‑trigger change‑in‑control provisions per company policy .
Clawbacks	Two recoupment policies: mandatory recoupment of excess incentive‑based compensation upon material restatement regardless of misconduct; discretionary recoupment for officer misconduct (violations, ethical/criminal harm, non‑compete breaches) up to 100% of awards .
Restrictive covenants	LTIP grants conditioned on non‑compete and non‑disclosure restrictions .
Section 16	Power of Attorney executed (July 28, 2025) appointing attorneys‑in‑fact for Section 16 and Rule 144 filings; Form 3 filed as CAO (event date July 31, 2025) .

Investment Implications

Pay‑for‑performance alignment: Kyle’s annual equity mix (60% PSUs, 40% RSUs) and cash bonus tied to EBIT margin, quality, EV volume, and connected services revenue align incentives to Ford+ priorities; PSUs’ sole rTSR metric directly links long‑term award value to shareholder returns .
Vesting/selling pressure: Sign‑on RSUs and LTIP RSUs vest ~33% annually starting June 4, 2026, potentially creating mechanical selling or withholding flows around vest dates; monitor Section 16 Form 4 activity near anniversaries to gauge supply from tax‑withholding or discretionary sales .
Retention risk: The three‑year vesting on sign‑on RSUs, ongoing annual equity, and recoupment/non‑compete provisions strengthen retention and alignment, reducing near‑term departure risk for a role critical to internal controls and financial reporting .
Governance and risk controls: Mandatory clawbacks for restatements and restrictions on hedging/pledging mitigate misalignment and reduce governance risk; equity grants’ double‑trigger CIC terms limit windfall acceleration absent both a transaction and qualifying termination .
Performance backdrop: Company‑level 2024 outcomes (record revenue, lower EBIT vs 2023, 69% AICP factor, quality challenges) suggest bonus sensitivity to execution against margin/quality targets; PSU outcomes will depend on multi‑year rTSR vs auto peers, with 2024 one‑year percentile at 63% as interim context .

Watchlist: upcoming RSU vest tranches beginning June 2026, any 2025–2026 equity grants disclosed in future proxies, and Section 16 activity for indications of selling or additional awards .