Celeste B. Mastin

President and Chief Executive Officer at FULLER H B

Board

Since December 4, 2022

Age

56 years

Tenure

Joined as Executive Vice President and Chief Operating Officer on March 07, 2022 and promoted to President and Chief Executive Officer on December 04, 2022.

Also at FULLER H B

HAC

Heather A. Campe

Senior Vice President, International Growth

JJE

James J. East

Executive Vice President, Hygiene, Health and Consumable Adhesives

Joao Magalhaes

Senior Vice President, Engineering Adhesives

About

Celeste B. Mastin is a seasoned executive with over 30 years of experience in the manufacturing and distribution industries.

She joined H.B. Fuller Company in 2022 as Executive Vice President and Chief Operating Officer on March 07, 2022 and was promoted to President and Chief Executive Officer on December 04, 2022.

Previously, she led companies such as PetroChoice Lubrication Solutions, Distribution International, Inc., and MMI Products, Inc., demonstrating her capacity to drive growth and operational excellence. Her extensive background underscores a commitment to strategic leadership and international business operations.

$FUL Performance Under Celeste B. Mastin

Past Roles

Organization	Role	Date Range	Details
H.B. Fuller	Executive Vice President and Chief Operating Officer	March to December 2022	Former position before becoming CEO
PetroChoice Lubrication Solutions	CEO	2018 to 2022	Largest distributor of petroleum lubrication solutions in the US
Distribution International, Inc.	CEO	N/A	Distributor of mechanical and acoustical insulation and related supplies
MMI Products, Inc. (a division of Oldcastle)	CEO	N/A	Manufacturer of chain link and ornamental iron fence products, and concrete reinforcing welded wire mesh and accessories
Ferro Corporation	Executive Leadership	N/A	Specializes in performance materials
Bostik Adhesives	Executive Leadership	N/A	Now owned by Arkema

Fixed Compensation

Data from FY 2024

Component Name	Amount	Payment Schedule	Additional Details
Salary	$991,731	Annual	Includes cash compensation deferred under the 401(k) Plan and/or KEDCP
Change in Pension Value and Non-qualified Deferred Compensation Earnings	$3,413	Annual	Reflects the change in pension value and non-qualified deferred compensation earnings
All Other Compensation	$292,467	Annual	Includes Defined Contribution Plan Company Match ($17,188 ), Restoration Plan Contributions ($170,222 ), Dividends on Unvested RSUs/PSUs ($52,602 ), and Perquisites & Other Payments ($52,455 )

Performance Compensation

Data from FY 2024

Stock Awards

Performance Stock Units (PSUs)

Metric	Value
Grant Date	January 26, 2024
Performance Metric	ROIC
Threshold	8,628 shares
Target	17,256 shares
Maximum	34,512 shares
Vesting Schedule	Cliff vesting on the third anniversary
Grant Date Fair Value	$1,341,136
Grant Date Stock Price	$77.72

Restricted Stock Units (RSUs)

Metric	Value
Grant Date	January 26, 2024
Number of Shares	17,257 shares
Vesting Schedule	Three annual installments (33%, 33%, 34%) starting on the first anniversary
Conditions	Vest based on continued employment; accelerated vesting in cases of death, disability, or change-in-control
Grant Date Fair Value	$1,341,214
Grant Date Stock Price	$77.72

Non-Qualified Stock Options (NQSOs)

Metric	Value
Grant Date	January 26, 2024
Number of Options	103,238
Exercise Price	$77.72
Vesting Schedule	Three annual installments (33%, 33%, 34%) commencing on the first anniversary with immediate exercisability upon retirement, death, disability, or change-in-control
Option Expiration Date	January 26, 2034
Grant Date Fair Value	$2,896,887

Non-Equity Incentive Plan Compensation (STIP)

Metric	Value
Threshold	$77,463
Target	$1,239,413
Maximum	$2,478,825
Actual Payout	$973,868
Payment Schedule	Annual payout based on fiscal year performance
Additional Adjustment	Target increased from 120% to 125% of base salary in recognition of strong performance