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    Aaron P. Jagdfeld

    President, CEO, and Chairman at Generac Holdings Inc
    Board
    Since September 2008
    Age
    53 years
    Education
    Earned a Bachelor of Business Administration in Accounting from the University of Wisconsin-Whitewater.
    Tenure
    Joined GNRC in 1994, served as Chief Financial Officer from 2002 to 2006, was promoted to President in 2007, became CEO in September 2008, and was named Chairman in February 2016.

    Also at Generac Holdings Inc

    EW
    Erik Wilde
    EVP, Industrial, Americas
    KR
    Kyle Raabe
    President, Consumer Power
    NT
    Norman Taffe
    President, Energy Technology

    About

    Aaron P. Jagdfeld has built a distinguished career at GNRC, establishing himself as a seasoned leader with extensive experience in finance and operations. Starting his career in 1994 in the finance department, he quickly proved his capability and was trusted with increasing levels of responsibility over the years.

    Over the course of his tenure at GNRC, he transitioned from vital finance roles to top executive positions, serving as Chief Financial Officer, President, and eventually leading the company as Chief Executive Officer since September 2008. His strategic guidance during critical periods of growth—such as the company’s initial public offering, notable acquisitions, and international expansion—has been a key driver of GNRC’s success.

    Beyond his professional achievements, his background in accounting and his early experience at Deloitte and Touche have provided him with a robust foundation in financial management and operational excellence. Now also serving as Chairman since February 2016, his leadership continues to shape the strategic direction of GNRC while fostering innovation and growth throughout the organization.

    $GNRC Performance Under Aaron P. Jagdfeld

    Past Roles

    Organization Role Date Range Details
    Generac (GNRC) President 2007 Responsible for sales, marketing, engineering, and product development
    Generac (GNRC) Chief Financial Officer (CFO) 2002 to 2006 Held the CFO role prior to his current position
    Generac (GNRC) Finance Department Staff 1994 to 2001 Worked in the finance department
    Deloitte & Touche, LLP Audit Practice (Staff) Prior to joining Generac Worked in the Milwaukee, Wisconsin office

    External Roles

    Organization Role Date Range Details
    The Hillman Group Director Current Provides complete hardware solutions

    Fixed Compensation

    Data from  FY 2023
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$1,050,000 Annual (as of Dec 31, 2023)Remained unchanged from 2022
    All Other Compensation$34,742 AnnualIncludes 401(k) Matching ($13,725 ), Executive Physical ($5,000 ), Personal Use of Company Aircraft ($16,017 )

    Performance Compensation

    Data from  FY 2023

    Annual Incentive Plan (AIP)

    MetricWeightThresholdTargetActual ResultBonus PayoutAdditional Details
    Adjusted EBITDA75% $654.6M $770.2M $638.7M 0% Fell below threshold; no payout
    Primary Working Capital %25% 34.4% 32.4% 36.7% 0% Exceeded threshold; no payout

    Bonus Conditions:

    • Threshold Bonus: 65% of base salary
    • Target Bonus: 130% of base salary
    • Maximum Bonus: 260% of base salary

    Evaluation Period: Annual (2023)

    Grant Details:

    • Grant Date: March 1, 2023
    • Approval Date: February 23, 2023
    • Grant Date Fair Value for performance share awards: $1,998,111
    • Grant Date Stock Price: $118.24 per share
    • Exercise/Base Price for option awards: $119.54 per share

    Long-Term Incentive Program (LTIP)

    Award ComponentGrant Date Fair ValueVesting SchedulePerformance MetricsGrant Date Stock PriceExercise Price
    Performance Shares$1,998,111 Vesting contingent on achieving 3-year performance metricsRevenue Growth, EBITDA Margin, Free Cash Flow Conversion $118.24 N/A
    Restricted Stock$1,998,111 Vests in three equal installments on the 1st, 2nd, and 3rd anniversariesN/A$118.24 N/A
    Stock Options$2,004,001 Vests in four equal installments on the 1st, 2nd, 3rd, and 4th anniversariesN/A$118.24 $119.54

    Total LTIP Award Value: $6,000,223

    Performance Metrics & Goals (LTIP):

    • Metric Components: Revenue Growth, EBITDA Margin, and Free Cash Flow Conversion
    • Payout Range: 0% to 200% of target performance share awards based on achievement

    Overall Summary:

    • The AIP for 2023 resulted in 0% bonus payout due to the failure to meet or exceed both Adjusted EBITDA and Primary Working Capital targets.
    • The LTIP is designed to align long-term compensation with company performance over a three-year period, with awards divided among performance shares, restricted stock, and stock options. Vesting schedules vary by component and are contingent on time and performance.