Mark W. Sheahan
Also at Graco Inc
About
Mark W. Sheahan is currently 60 years old and has built an extensive career in the industrial manufacturing sector, starting his journey with Graco in 1995.
Over the course of his tenure, he has progressed through a series of leadership positions beginning as Manager in Treasury Services, advancing to Treasurer, and later taking on roles as Vice President and Treasurer, Chief Administrative Officer, Vice President and General Manager of the Applied Fluid Technologies Division, and Chief Financial Officer and Treasurer. His dedication and leadership were further recognized when he assumed the role of President and CEO on June 10, 2021.
Beyond his accomplishments at Graco, his influence extends into the broader industrial sphere through his service as a board member for the Tennant Company and Fernweh Group, LLC, reflecting a commitment to advancing industry standards and strategic growth.
$GGG Performance Under Mark W. Sheahan
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Graco Inc. (GGG) | Chief Financial Officer and Treasurer | June 2018 to June 2021 | N/A |
| Graco Inc. (GGG) | Vice President and General Manager, Applied Fluid Technologies Division | 2008 to June 2018 | N/A |
| Graco Inc. (GGG) | Chief Administrative Officer | 2005 to 2008 | N/A |
| Graco Inc. (GGG) | Vice President and Treasurer | 1998 to 2005 | N/A |
| Graco Inc. (GGG) | Manager, Treasury Services | Prior to December 1996 | N/A |
External Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Tennant Company | Director | N/A | N/A |
| Fernweh Group, LLC | Board of Managers | N/A | Provides consulting and investment services in the industrial and industrial-technology sectors |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | $985,000 | Annually | Fixed annual base salary for the CEO position |
| Employee Investment Plan Matching Contribution | $9,900 | Annually | Contribution made as part of the employee investment plan |
| Other Perquisites | $16,858 | Annually | Includes long-term disability coverage, financial planning, spousal travel, miscellaneous travel, and an executive physical |
Performance Compensation
Short-Term Incentives (STI)
| Metric/Condition | Details |
|---|---|
| Performance Metrics Weighting | Corporate Net Sales: 40%; Corporate Incentive EPS: 60% |
| Target Performance Level | 102% of 2022 actual results |
| Threshold Performance Level | 90% of the 2023 target performance |
| Maximum Performance Level | 105% of the 2023 target performance |
| Actual Results (Corporate Net Sales) | 100% |
| Actual Results (Corporate Incentive EPS) | 113% |
| Target Payout (Based on Base Salary) | $985,000 (100% of Base Salary) |
| Actual Payout | $1,299,436 (132% of Base Salary) |
| Vesting Schedule | Not applicable (cash incentive paid based on annual performance) |
| Evaluation Period | 2023 |
Long-Term Incentives (LTI)
| Metric/Condition | Details |
|---|---|
| Grant Date | February 17, 2023 |
| Number of Options Granted | 245,530 |
| Grant Date Fair Value | $5,499,872 |
| Exercise Price | $71.47 |
| Closing Market Price on Grant Date | $72.47 |
| Vesting Schedule | 25% per year over 4 years starting February 17, 2024 |
| Expiration Date | February 17, 2033 |
| Performance Condition | Stock price appreciation above the grant date fair value |
| Plan Details | Non-qualified stock options under the Graco Inc. 2019 Stock Incentive Plan |