Dennis Hunt
About Dennis Hunt
Dennis B. Hunt is Senior Vice President – Sales at Gencor Industries. He has served as VP since January 2005 and as SVP since August 2008, bringing 40 years of asphalt and construction industry experience; he holds a BS from the University of San Francisco and an MBA from California State University Bakersfield . Age 68 as of August 11, 2025 . The company’s TSR (value of initial $100 investment) improved from 80.81 in FY2022 to 144.48 in FY2023 and 153.61 in FY2024 . Company revenues and EBITDA rose from FY2023 to FY2024 (see table; values from S&P Global)*.
Compensation at GENC emphasizes fixed cash pay, with no equity-based plans in recent years and bonuses determined without specific quantitative formulas; TSR and net income were not used as pay metrics in 2023–2024 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Vulcan Materials Company (Western Division) | Vice President – Asphalt and Ready Mix Operations | Not disclosed | Operational leadership across asphalt/ready-mix; industry expertise carried to Gencor |
| Industrial Asphalt | Principal and Officer | Not disclosed | Family company scaled into one of the largest hot mix asphalt producers in the U.S. |
External Roles
No public company board or other external roles disclosed for Dennis Hunt .
Fixed Compensation
Multi-year compensation for Dennis B. Hunt:
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Base Salary ($) | $288,558 | $447,500 | $500,000 |
| Target Bonus (%) | Not disclosed | Not disclosed | Not disclosed |
| Actual Bonus Paid ($) | $100,000 | $100,000 | $0 |
| All Other Compensation ($) | $8,592 | $9,783 | $8,220 |
| Total Compensation ($) | $397,150 | $557,283 | $508,220 |
Key features:
- No employment agreement; employment may terminate at any time without severance .
- Perquisites include personal use of a company vehicle and employer 401(k) contributions (included in “All Other Compensation”) .
Performance Compensation
- Annual incentive design: The Compensation Committee considers revenues, net income, duties/scope, industry standards and comparable salaries, corporate growth, profits, goals, and market share increases to determine compensation; it does not apply specific quantitative formulas .
- Metrics used in pay decisions: TSR and net income were not used as performance measures in executive compensation plans for the years shown .
- Equity compensation: No equity-based compensation plans are maintained; no stock options or similar awards were granted in FY2023–FY2024 .
- Outstanding awards/vesting: No outstanding equity awards as of September 30, 2024; therefore, no vesting schedules apply .
Performance context:
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| TSR – Value of Initial Fixed $100 Investment | 80.81 | 144.48 | 153.61 |
Equity Ownership & Alignment
Beneficial ownership (Common and Class B):
| As of Date | Common Shares | Class B Shares | Percent of Class (Common) | Percent of Class (Class B) |
|---|---|---|---|---|
| Jan 29, 2024 | 750 | — | 0.0% | — |
| Aug 11, 2025 | 750 | — | 0.0% | — |
Additional alignment indicators:
- No options (exercisable or unexercisable) and no RSUs/PSUs outstanding .
- Stock ownership guidelines: Not disclosed; at this time the company does not maintain equity-based plans .
- Pledging/hedging: Not disclosed.
- Section 16 compliance: Company reported no delinquent Section 16(a) filings for FY2024 and FY2023 .
Employment Terms
| Term | Disclosure |
|---|---|
| Employment start date at Gencor | VP since Jan 2005; SVP since Aug 2008 |
| Contract term/expiration | No employment agreement; at-will |
| Severance provisions | None; employment may terminate without severance |
| Change-of-control economics | Not disclosed; no employment agreements and no equity plans |
| Non-compete / Non-disclosure | Executed; terms/duration not disclosed |
| Clawback policy | Adopted for performance-based compensation received on/after Oct 2, 2023; recovery upon restatement due to errors/omissions/fraud |
| Perquisites | Personal use of company vehicle; employer 401(k) contributions |
Company Performance Indicators (context)
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Revenues ($) | $105,075,000* | $113,166,000* |
| EBITDA ($) | $16,259,000* | $16,289,000* |
*Values retrieved from S&P Global.
Investment Implications
- Alignment: Hunt’s ownership is de minimis (750 common shares, 0.0% of class), with no equity awards outstanding and no equity-based pay programs, indicating limited direct alignment with shareholder upside via equity; however, it also implies minimal insider selling pressure from vesting-related events .
- Pay-for-performance: Compensation is primarily fixed cash with discretionary elements; the committee does not use TSR or net income as formal pay metrics, limiting explicit pay-for-performance linkage .
- Retention risk: Absence of employment agreement and severance may reduce lock-in; tenure since 2008 as SVP and deep industry expertise mitigates some risk, but age (68) suggests eventual transition planning should be monitored .
- Governance: The presence of a clawback policy is a positive governance feature; no related party transactions were reported in FY2024–FY2023 .
Citations: