Michael J. Taylor
GREIFAbout Michael J. Taylor
Michael J. Taylor is Vice President, Corporate Controller of Greif, Inc., serving as the company’s chief accounting officer since May 2022; he is 41 years old as of the February 24, 2025 annual meeting date . He previously served as Director of Financial Reporting and Internal Controls (2017–2022) and spent more than five years in PwC’s assurance practice before joining Greif, building technical expertise in financial reporting, internal controls, and audit quality . Company incentive designs tie management pay to operating profit before special items (OPBSI), operating working capital (OWC), EBITDA, and relative total shareholder return (TSR), aligning leadership with margin quality, cash discipline, and shareholder outcomes; FY2024 STIP paid out at 133.9% of target on adjusted OPBSI/OWC, and the 2022–2024 LTIP PSUs paid at 186% with an 11.6% TSR modifier .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Greif, Inc. | Director, Financial Reporting & Internal Controls | 2017–2022 | Led SEC reporting and controls; strengthened accounting quality and compliance |
| Greif, Inc. | Vice President, Corporate Controller (Chief Accounting Officer) | 2022–present | Oversees accounting policy, reporting, internal control environment; supports audit committee integrity |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| PricewaterhouseCoopers LLP | Assurance Practice | >5 years prior to 2017 | Built audit and GAAP expertise; foundation for corporate controller responsibilities |
Fixed Compensation
- The proxy does not disclose Michael J. Taylor’s individual base salary, target bonus %, or perquisites; Greif sets base pay annually by role scope, market data, and internal equity, and administers a Short-Term Incentive Plan (STIP) in cash for selected executive officers .
- Greif prohibits hedging and short sales by executive officers/directors; pledging requires pre-approval, reinforcing alignment and trading discipline .
Performance Compensation
Greif’s incentive architecture uses objective, multi-factor metrics with capped payouts.
STIP – Company Metrics and FY2024 Outcome (applies to STIP participants designated by the Compensation Committee)
| Metric | Weight | Threshold (50% payout) | Target (100% payout) | Maximum (200% payout) | Actual Performance | Actual Payout |
|---|---|---|---|---|---|---|
| OPBSI ($mm) | 80% | 318.6 | 379.3 | 596.0 | 439.6 | 127.8% |
| OWC (% of revenue) | 20% | 11.9% | 11.3% | 10.7% | 10.9% | 158.3% |
| Aggregate FY2024 payout | — | — | — | — | — | 133.9% |
STIP – FY2025 Goals
| Metric | Weight | Threshold (50% payout) | Target (100% payout) | Maximum (200% payout) |
|---|---|---|---|---|
| OPBSI ($mm) | 80% | 429.4 | 466.8 | 504.1 |
| OWC (% of revenue) | 20% | 13.4% | 12.7% | 12.0% |
LTIP – Structure and 2022–2024 Outcome
- RSUs: time-based, typically vest at ~3 years; RSUs granted in the 2023 cycle are scheduled to vest January 14, 2026 for plan participants designated (disclosed for NEOs) .
- PSUs: 3-year performance on EBITDA with a relative TSR modifier (+/−20%); threshold 33%, cap 200% .
| LTIP Performance Period | EBITDA Threshold | EBITDA Target | EBITDA Maximum | Actual EBITDA | TSR Modifier | PSU Payout |
|---|---|---|---|---|---|---|
| FY2022–FY2024 | $2,196mm | $2,440mm | $2,684mm | $2,603mm | +11.6% | 186% |
Notes: Participation and grant sizes for Michael J. Taylor are not disclosed; LTIP participants include executive officers and key employees designated by the Compensation Committee .
Equity Ownership & Alignment
- Stock ownership guidelines: 3x base salary for executive officers (5x for CEO; 1x for key employees); must retain 100% of LTIP shares until guideline met; 5-year compliance window starting from LTIP participation or upon promotion to higher threshold .
- Beneficial ownership for Michael J. Taylor is not individually disclosed; all directors and executive officers as a group (19 persons) owned 873,491 Class A shares and 747,828 Class B shares as of Dec 27, 2024 .
- Insider policy prohibits hedging and short sales; pledging requires pre-approval; directors and officers are subject to Section 16 reporting (no delinquency noted for Taylor) .
Employment Terms
- Appointment: Named Vice President, Corporate Controller and Chief Accounting Officer effective May 1, 2022; no special arrangements or related-party transactions disclosed at appointment .
- Contracts and severance: Greif reports no employment agreements or severance/change-in-control benefits for NEOs; LTIP participants (including non-NEOs) are subject to post-employment non-compete covenants, and awards are forfeited upon termination except for death, disability, or retirement (pro rata) .
- Change in control: Under the 2001 Plan, unvested stock options vest immediately; restrictions on restricted and performance shares lapse; company may cash out unexercised options post-CIC at intrinsic value .
- Clawback: NYSE-compliant incentive compensation recovery policy adopted in 2023 covering “certain officers,” requiring recovery of erroneously awarded incentive comp following a restatement .
Investment Implications
- Pay-for-performance linkage is robust (OPBSI, OWC, EBITDA, TSR), supporting alignment of the Controller’s oversight with cash discipline and margin quality; FY2024 STIP over-achievement and 2022–2024 LTIP PSU payout evidence operational execution and shareholder-value focus at the enterprise level .
- Governance guardrails (clawback; anti-hedging; pledging only with pre-approval; ownership guidelines at 3x salary) reduce misalignment and trading-risk behaviors typical of accounting leadership roles .
- Retention risk appears contained through multi-year vesting and ownership requirements; absence of broad severance arrangements limits “golden parachute” risk, while CIC acceleration of equity awards could create supply overhang if a transaction occurs—monitor upcoming vesting cycles for potential insider Form 4 activity around RSU/PSU settlements (NEO schedule disclosed: Jan 14, 2026) .
- Disclosure gaps for non-NEO officers (no individual salary/bonus/equity counts) constrain precise pay-for-performance benchmarking; track future proxies and 8-Ks (Item 5.02) for any changes to Controller compensation mechanics or role scope .