Erin Day
Hilton Grand VacationsAbout Erin Day
Erin A. Day, 41, is Hilton Grand Vacations’ acting Chief Financial Officer from February 7, 2025 to March 24, 2025 and Executive Vice President, Finance since April 2024; she joined HGV in 2011 and has held progressively senior finance roles, with bachelor’s and master’s degrees in business administration (finance) from the University of Florida . Company performance context: FY2024 total revenues were $4,981 million, Economic Adjusted EBITDA was $1,112 million, and diluted EPS was $0.45, the primary incentive metrics used for executive pay design at HGV .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Hilton Grand Vacations | Acting Chief Financial Officer | Feb 7, 2025 – Mar 24, 2025 | Interim CFO coverage; continuity of finance leadership during CFO leave |
| Hilton Grand Vacations | Executive Vice President, Finance | Apr 2024 – Present | Senior finance leadership; oversight across corporate finance functions |
| Hilton Grand Vacations | Senior Vice President, Finance | Apr 2021 – Apr 2024 | Led finance through acquisition phase; progression to EVP |
| Hilton Grand Vacations | Senior Vice President, Strategic Finance | Dec 2019 – Jul 2021 | Strategic finance leadership; planning and analysis |
| Hilton Grand Vacations | Vice President, Strategic Planning & Corporate Finance | May 2017 – Dec 2019 | Corporate planning and capital allocation |
External Roles
No external public company directorships or related party interests disclosed for Ms. Day; no arrangements or family relationships associated with her acting CFO appointment were disclosed .
Fixed Compensation
| Component | Value | Notes |
|---|---|---|
| Base Salary | $400,000 | Per acting CFO appointment; not modified for interim role |
| Target Short-Term Incentive (STI) | 75% of base | Company-wide STI metrics described below |
| Target Long-Term Incentive (LTI) | 200% of base | Award forms/mix per HGV design for non-CEO executives |
Performance Compensation
| Metric | Weighting | FY2024 Target | FY2024 Actual | Payout Factor | Vesting/Settlement |
|---|---|---|---|---|---|
| Economic Adjusted EBITDA | 70% | $1,255.0–$1,275.0 million | $1,112.2 million | 62% | Cash bonus; annual |
| Total Economic Revenue | 30% | $4,859.6 million | $4,560.8 million | 69% | Cash bonus; annual |
| RSUs (Service-based) | 50% of LTI (non-CEO) | N/A | N/A | N/A | Vest annually over 3 years |
| Stock Options | 25% of LTI (non-CEO) | N/A | N/A | N/A | Vest annually over 3 years; 10-year term |
| Performance RSUs (PSUs) | 25% of LTI (non-CEO) | Economic Adjusted EBITDA (50%) & Contract Sales (50%) | Targets undisclosed (confidential) | 0–200% linear around threshold/target/max | Cliff vest at end of 3-year period (2024–2026) |
Notes:
- HGV’s 2024 STI design is 70% Economic Adjusted EBITDA and 30% Total Economic Revenue for executive officers; payout factors above reflect company-wide outcomes .
- PSUs performance targets are not disclosed due to competitive sensitivity; achievement scales 0–200% .
Equity Ownership & Alignment
- Beneficial ownership for Ms. Day was not individually itemized; directors and executive officers as a group held 2,521,908 shares (2.7% of outstanding) as of the 2025 record date .
- Executive stock ownership policy: CEO 5× base salary; NEOs and certain senior officers 3× base salary; NEOs met guidelines as of December 31, 2024; Ms. Day’s specific compliance status not disclosed .
- Hedging and pledging of company stock are prohibited; clawback policy in place per NYSE Rule 10D-1 .
- Option/RSU termination/vesting protections: service RSUs and options generally vest upon death/disability; double-trigger vesting within 12 months post-change-in-control; retirement-friendly continued vesting subject to covenants; PSUs vest at target if not assumed in a change-in-control; detailed terms below .
Outstanding Awards and Vesting Terms (Plan-wide)
| Award Type | Key Term | Detail |
|---|---|---|
| Service RSUs | Change-in-control | Immediate vest if awards not assumed; double-trigger vest within 12 months post-CIC |
| Stock Options | Exercise window after vesting | 10-year expiration; 90-day exercise post termination; 1-year if death/disability; retirement keeps original expiration |
| PSUs | CIC handling | Vest at target if not assumed; double-trigger vest within 12 months post-CIC |
Insider trading and 10b5-1 plans: No Form 4 transaction records could be retrieved for Ms. Day in this analysis window; appointment 8-K notes no arrangements or understandings tied to her appointment .
Employment Terms
| Provision | Term | Notes |
|---|---|---|
| Severance Agreement | “Substantially the same as” executives | Ms. Day is party to a severance agreement substantially the same as HGV’s executive officer agreements |
| Severance Multiple | 2.0× base + target bonus (non-CEO executives) | Standard for executives other than CEO; CEO is 2.5× |
| Triggers | Without cause / for good reason; CIC protections | Double-trigger CIC severance; benefits continue; release and restrictive covenants required |
| Equity Treatment | Per plan/award agreements | CIC and termination treatments per RSU/Option/PSU provisions above |
| Clawback | NYSE Rule 10D-1 compliant | Recovery of erroneously awarded compensation on restatements |
| Hedging/Pledging | Prohibited | Risk-mitigating governance practices |
| Tax Gross-ups | No excise tax gross-ups | Company policy against 280G/409A gross-ups; note CEO had minor club membership gross-up unrelated to 280G |
Performance & Track Record
- Tenure and progression: 14+ years at HGV with successive promotions culminating in EVP Finance and interim CFO responsibilities .
- Company-level outcomes anchoring pay metrics: FY2024 Economic Adjusted EBITDA $1,112 million and Total Economic Revenue $4,560.8 million drove STI payouts below target across executive levels .
- Pay practice continuity: HGV maintained a performance-weighted LTI mix (PSUs tied to Economic Adjusted EBITDA and Contract Sales) with explicit 0–200% scaling to reinforce performance alignment .
Compensation Committee & Shareholder Feedback
- Independent consultant (Pearl Meyer) supports benchmarking and program design; no conflicts reported .
- Say-on-pay support: 98% approval at the 2024 annual meeting; 92% in 2023, indicating strong investor support for pay design .
Investment Implications
- High performance leverage in pay design: Ms. Day’s incentive structure (75% STI; 200% LTI) is tightly linked to company-wide Economic Adjusted EBITDA and Total Economic Revenue for annual cycles and multi-year PSUs tied to EBITDA and Contract Sales, creating clear sensitivity of realized pay to operational execution .
- Retention risk mitigants: Double-trigger CIC protection, retirement-friendly vesting rules, and strong stock ownership guidelines support retention and alignment; clawback and hedging/pledging prohibitions enhance governance quality .
- Near-term selling pressure: Form 4 visibility for Ms. Day was not retrievable here; however, with RSU/option designs vesting over multiple years and policy prohibitions on hedging/pledging, structural selling pressure appears limited absent disclosed trading plans .
- Execution signals: FY2024 STI payouts below target on both EBITDA (62%) and revenue (69%) underscore conservative pay outcomes in softer performance periods; PSUs retain leverage if multi-year targets are met, aligning upside with integration and growth execution .