Clifton A. Pemble
Also at Garmin Ltd
About
Clifton A. Pemble has built a strong foundation with a solid educational background, holding BA degrees in Mathematics and Computer Science from MidAmerica Nazarene University.
Beginning his professional journey at GRMN in October 1989 as a Software Engineer, he steadily advanced through increasingly responsible roles. Over the years, he served as Software Engineering Manager, Director of Engineering, and Vice President of Engineering, which laid the groundwork for his leadership in the company.
In January 2013, he assumed the role of President and CEO, a position that highlights his significant contributions and long-standing commitment to innovation and growth at GRMN. His career progression and tenure reflect his deep technical expertise and business acumen, driving the company’s success in diverse markets.
$GRMN Performance Under Clifton A. Pemble
Past Roles
| Organization | Role | Date Range | Details [N/A] |
|---|---|---|---|
| Garmin | President and Chief Operating Officer | October 2007 to December 2012 | |
| Garmin International, Inc. | Chief Operating Officer | October 2007 to December 2012 | |
| Garmin International, Inc. | Vice President, Engineering | 2005 to October 2007 | |
| Garmin International, Inc. | Director of Engineering | 2003 to 2005 | |
| Garmin International, Inc. | Software Engineering Manager | 1995 to 2002 | |
| Garmin International, Inc. | Software Engineer | 1989 to 1995 |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Salary | $1,350,962 | N/A | CHF Equivalent: CHF 1,134,943 |
| Annual Holiday Bonus | $333 | N/A | CHF Equivalent: CHF 280 |
| 401(k) Base Contribution | $16,500 | N/A | CHF Equivalent: CHF 13,862 |
| 401(k) Company Matching | $22,500 | N/A | CHF Equivalent: CHF 18,902 |
| Health and Other Insurance | $35,346 | N/A | CHF Equivalent: CHF 29,694 |
Performance Compensation
Performance-Based RSUs (PC-RSUs)
| Metric/Detail | Value |
|---|---|
| Grant Date | February 25, 2023 |
| Threshold Shares | 6,594 shares <br> (Note: Another section on plan-based awards cites 13,188 shares ) |
| Target Shares | 26,376 shares |
| Maximum Shares (Cap) | 39,564 shares (150% of target) |
| Grant Date Fair Value (Target) | $2,450,067 <br> (CHF 2,058,301 ) |
| Grant Date Fair Value (Max) | $3,675,100 <br> (CHF 3,087,451 ) |
| Vesting Schedule | Three equal installments: <br> 1. Within 30 days of Certification Date <br> 2. First anniversary of Certification Date <br> 3. Second anniversary of Certification Date |
| Performance Metrics | Pre-established performance goals set by the Compensation Committee; specifics (metrics, weights) not disclosed |
Time-Based RSUs
| Metric/Detail | Value |
|---|---|
| Grant Date | December 15, 2023 |
| Fixed Share Quantity | 22,371 shares |
| Vesting Schedule | Three equal installments on: <br> 1. First anniversary <br> 2. Second anniversary <br> 3. Third anniversary of the grant date |
Additional Details
- The PC-RSUs payout is contingent upon the achievement of performance targets where the actual percentage of eligible shares earned ranges from 0% to 150% based on performance.
- The grant date stock price is based on the closing price of Garmin shares on the NYSE on the respective grant dates, adjusted as dividend equivalents are not paid.
- No further specifics on the actual performance metrics (e.g., weighting percentages, evaluation period details beyond the vesting schedule) are provided in the documents.