Alex Tomey
About Alex Tomey
Alex Tomey is Senior Vice President and Chief Merchandising Officer at Global Industrial Company (GIC), serving as an executive officer since 2021 and age 55 as of the 2025 proxy. He holds a BS from the University of Missouri–Columbia and has led merchandising/product roles at major retailers including Petco (Co-Chief Merchandising Officer), DICK’S Sporting Goods (SVP, Product Development & Global Sourcing), Kohl’s, and Walmart. GIC links executive pay to measurable performance, emphasizing Net Sales, Gross Profit, Gross Margin, and Adjusted Operating Income; the company also reports TSR versus the S&P Retail Index, though individual executive attribution is not disclosed.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Petco | Co-Chief Merchandising Officer | Not disclosed | Led merchandising strategy and assortment at a national specialty retailer |
| DICK’S Sporting Goods | SVP, Product Development & Global Sourcing | Not disclosed | Built private label/product pipelines and sourcing capabilities |
| Kohl’s | Merchandising leadership roles | Not disclosed | Drove category merchandising/pricing decisions at a national department store |
| Walmart | Merchandising leadership roles | Not disclosed | Managed merchandising in scale retail environment |
| Global Industrial Company (GIC) | SVP & Chief Merchandising Officer | Since 2021 | Oversees merchandising strategy; executive officer since 2021 |
External Roles
| Organization | Role | Years |
|---|---|---|
| Petco Mexico | Board member | Not disclosed |
| DICK’S Sporting Goods Foundation | Board member | Not disclosed |
Fixed Compensation
- Alex Tomey is an executive officer but was not a Named Executive Officer (NEO) in 2024; his detailed salary/bonus figures are not presented in the Summary Compensation Table. The 2024 NEO list comprises Richard B. Leeds, Thomas Clark, Claudia Hughes, Manoj Shetty, Adina G. Storch, and Barry Litwin (former CEO).
- Base salary determination for executive officers is benchmarked against comparable companies by the Compensation Committee and its independent consultant, with a peer set revised in February 2023.
| Program Element | Policy (Company/NEO framework) | Alex Tomey Disclosure |
|---|---|---|
| Base salary | Benchmarked vs industry, revenues, employee counts; consultant-supported; peer set revised Feb-2023 | Not disclosed (not an NEO) |
| Target annual cash bonus | Generally 50% of base salary for NEOs (except noted cases) | Not disclosed (not an NEO) |
| Payout range mechanics | Overall determinants sum to 100%; threshold 48.5%, target 100%, max 154% of target | Not disclosed (not an NEO) |
Performance Compensation
The annual non‑equity incentive framework for NEOs combines company and individual metrics. While Tomey’s specific targets/actuals are not disclosed, the structure and weightings below provide the performance levers used by GIC.
| Metric | Weighting (%) | Threshold Payout (%) | Target Payout (%) | Maximum Payout (%) | Vesting/Payout Notes |
|---|---|---|---|---|---|
| Adjusted Operating Income (GAAP-based) | 55 | 50 | 100 | 175 | Primary profitability metric |
| Net Sales Performance (GAAP-based) | 15 | 50 | 100 | 175 | Growth/scale indicator |
| Non-Financial Company Metrics (CX, operations, merchandising, HCM, strategy) | 15 | 50 | 100 | 100 | Operational KPIs |
| Individual Strategic Objectives | 15 | 40 | 100 | 110 | Role-specific goals |
Most important performance measures linking NEO pay to performance in 2024: Net Sales, Gross Profit, Gross Margin, Adjusted Operating Income.
Equity Ownership & Alignment
- Stock ownership guidelines: CEO 3× base salary; other executive officers 1× base salary; non‑management directors 1× base cash retainer; five‑year phase‑in. Unvested/uneared RSUs do not count.
- Clawback policy: Adopted effective October 1, 2023, compliant with NYSE/Exchange Act Section 10D; enables recovery of excess incentive compensation upon accounting restatement.
- Anti‑hedging/anti‑pledging: The company does not have a policy restricting employee hedging or pledging of company securities.
- Equity award mix and vesting: For 2024, target equity awards generally 50% performance RSUs, 25% options, 25% time‑based RSUs. Performance RSUs granted in 2023+ cliff‑vest after a three‑year period based on cumulative Adjusted Operating Income; time‑based RSUs and options vest 25% annually over 4 years.
- Historical option repricing: On Jan 17, 2019, the exercise price of each outstanding stock option was amended to reduce the price by $2.30 (evidence of repricing).
| Alignment Item | Policy/Status |
|---|---|
| Ownership guideline (Tomey) | 1× base salary requirement; five‑year phase‑in; uneared/unvested RSUs excluded |
| Hedging/Pledging | No company policy restricting hedging or pledging (potential red flag) |
| Clawback | Mandatory clawback policy in place since Oct 1, 2023 |
| Equity award mix (2024) | 50% PSUs, 25% options, 25% time RSUs |
| Vesting (PSUs) | 3‑year cliff vest based on cumulative Adjusted Operating Income (for 2023+ grants) |
| Vesting (RSUs/Options) | 25% per year over four years (time‑based) |
| Option repricing history | Exercise price reduced by $2.30 on 1/17/2019 |
| Tomey beneficial ownership | Not disclosed in director/NEO ownership tables (Tomey not a 2024 NEO) |
Employment Terms
- Change‑in‑control and severance: For NEOs, equity awards provide “double‑trigger” acceleration—if terminated by the company without Cause or by the NEO for Good Reason within six months following a change in control, unvested RSUs vest (performance RSUs at target for 2023–2024 awards), and unvested options become vested and remain exercisable per terms (not less than 90 days). Time‑based vesting and standard option exercise periods apply for other termination scenarios. Tomey‑specific employment/severance terms were not disclosed.
- Option agreements (standard): If termination is not for death, disability, or Cause, vested portions are generally exercisable for up to three months; unvested forfeited. (Litwin’s options were extended to six months upon voluntary departure via amendment; illustrates committee discretion.)
| Term | Provision | Tomey Disclosure |
|---|---|---|
| CIC vesting (equity) | Double‑trigger within six months post‑CIC for NEO equity (PSUs vest at target for 2023–2024 grants; options vest and remain exercisable) | Not disclosed for Tomey |
| Option exercise window | Standard three months post‑termination (longer for death/disability); unvested forfeited | Not disclosed for Tomey |
| Individual employment agreement | Specific severance multiples/terms disclosed for certain NEOs (e.g., Storch) | Not disclosed for Tomey |
Investment Implications
- Alignment levers: Clear ownership guideline (1× salary for executive officers), multi‑metric annual bonus design (AOI, Net Sales, operational KPIs, individual objectives), and multi‑year PSUs tied to cumulative Adjusted Operating Income strengthen performance linkage and retention incentives for merchandising leadership.
- Red flags: Absence of anti‑hedging/anti‑pledging policy may permit hedging/pledging by executives, which can dilute alignment; historical option repricing (2019) evidences flexibility that is typically shareholder‑unfriendly if repeated. Monitoring Form 4 activity and any pledging disclosures is prudent for trading‑signal risk assessment.
- Disclosure gaps: Tomey was not a 2024 NEO; thus, base salary, bonus, grant values, vesting schedules by grant, and beneficial ownership are not disclosed—limiting precision on pay‑for‑performance and selling pressure for this executive. Portfolio managers should triangulate through future proxies/8‑Ks and Form 4s for direct signals.