Billy Aldridge
About Billy Aldridge
Billy Aldridge, 53, is Senior Vice President and Managing Director of Electronics at Helios Technologies (HLIO), serving as an executive officer since April 2025; he previously led Enovation Controls as SVP/Managing Director from May 3, 2021, and earlier held commercial and operations roles at FW Murphy and MerCruiser/Mercury (Brunswick), where he earned Lean Six Sigma certification and built cross-functional expertise in supply chain, program management, and OEM sales . He holds a bachelor’s degree in Sociology from Oklahoma State University . Company compensation emphasizes pay-for-performance tied to Adjusted EBITDA Margin, Revenue, and Adjusted Free Cash Flow Margin, with TSR added to the LTI plan; HLIO stock prices at year-end moved from $105.17 (2021) to $44.98 (2024), underscoring the equity-sensitive nature of executive pay .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Helios Technologies – Electronics Segment | SVP, Managing Director | Mar 31, 2025–present | Segment leadership realigned to enhance customer engagement and streamline operations toward 2025 objectives . |
| Helios Technologies – Enovation Controls | SVP, Managing Director | May 3, 2021–Mar 31, 2025 | Led the business unit; recognized for strong leadership, deep customer relationships, and operational knowledge . |
| FW Murphy (division of Enovation Controls) | OEM Sales Manager; Director; VP, Business Development | 2008; 2015; 2018 | Grew the marine market; progressed into leadership roles driving business development . |
| MerCruiser/Mercury (Brunswick Corp.) | Various roles in Supply Chain, Program Mgmt & OEM Sales; Lean Six Sigma | 2000–2008 | Earned Lean Six Sigma; broad functional experience across operations and commercial roles . |
External Roles
- No public company directorships or external board roles disclosed for Aldridge in available filings .
Fixed Compensation
- HLIO’s 2024 executive program structure: base salary (fixed), STI (annual), and LTI (50% performance-based RSUs, 50% time-based RSUs); STI metrics and weightings (corporate vs. segment) are defined below. Aldridge’s specific base salary and target STI % were not disclosed in the 2025 proxy (he was not a 2024 NEO) .
Performance Compensation
Program Metrics and Weightings (applied to segment executives like Electronics)
| Incentive Type | Metric | Weighting | Target | Actual | Payout |
|---|---|---|---|---|---|
| STI (Annual) | Adjusted EBITDA Margin | 40% | Not disclosed | Not disclosed | Not disclosed |
| STI (Annual) | Revenue (Segment) | 40% | Not disclosed | Not disclosed | Not disclosed |
| STI (Annual) | Adjusted Free Cash Flow Margin | 20% | Not disclosed | Not disclosed | Not disclosed |
| LTI PBRSU (3-year) | Segment Adjusted EBITDA Margin | 50% | Not disclosed | Not disclosed | Not disclosed |
| LTI PBRSU (3-year) | Segment Adjusted Operating Income | 50% | Not disclosed | Not disclosed | Not disclosed |
- HLIO added a TSR metric to the LTI program to strengthen pay-for-performance alignment .
2022–2024 PSU Results (context on segment performance)
| Segment | PSU Period | Metric | Threshold | Target | Maximum | Result | Payout % |
|---|---|---|---|---|---|---|---|
| Electronics | 2022–2024 | Segment Adjusted EBITDA Margin (50%) | 24.6% | 25.3% | 26.1% | 19.1% | 0% |
| Electronics | 2022–2024 | Segment Adjusted EPS (50%) | $4.68 | $5.68 | $7.18 | $3.98 | 0% |
Aldridge’s Outstanding Equity Awards
| Grant Date | Award Type | Units | Vesting Schedule | Performance Period / Condition | Expiration / Exercise Terms |
|---|---|---|---|---|---|
| Jan 6, 2023 | Performance-Based RSUs | 1,163 | Earn up to 200% based on 3-year metrics; must remain employed through Mar 15, 2026 | FY2023–FY2025; payout contingent on pre-set metrics | N/A |
| Jan 6, 2023 | Time-Based RSUs | 388 | 33 1/3% vest each of first three anniversaries of grant date | Time-based only | N/A |
| Jan 3, 2024 | Performance-Based RSUs | 1,165 | Earn up to 200% based on 3-year metrics; must remain employed through Mar 15, 2027 | FY2024–FY2026; payout contingent on pre-set metrics | N/A |
| Jan 3, 2024 | Time-Based RSUs | 1,083 | 33 1/3% vest each of first three anniversaries of grant date | Time-based only | N/A |
| Feb 27, 2025 | Time-Based RSUs | 1,820 | 33 1/3% vest each of first three anniversaries of grant date | Time-based only | N/A |
| Feb 27, 2025 | Stock Options | 3,896 | 100% vest on third anniversary (Feb 27, 2028) | N/A | Expires Feb 27, 2035; exercise price not disclosed in Form 3 |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial non-derivative shares | None reported on Form 3 at appointment (Table I blank) . |
| Derivative holdings summary | PBRSUs: 1,163 (2023), 1,165 (2024); RSUs: 388 (2023), 1,083 (2024), 1,820 (2025); Options: 3,896 (granted 2/27/2025) . |
| Vested vs. unvested | All awards above were unvested as of the April 8, 2025 Form 3 filing; RSUs vest pro rata annually over 3 years; options vest fully at year 3 . |
| Stock ownership guidelines | Executives must meet share ownership guidelines within five years; multiples by role (e.g., CEO 5x salary; other NEOs 2x) and compliance monitored annually . |
| Hedging/pledging | Company prohibits hedging and pledging of company securities by executives and directors . |
Employment Terms
| Agreement | Trigger | Cash Benefits | Equity Treatment | Benefits | Covenants |
|---|---|---|---|---|---|
| Severance Agreement | Involuntary termination (not in connection with change in control) | 12 months base salary + payment equal to target value at grant of current-year STI award | No acceleration specified; standard award terms apply | 12 months company-paid medical/dental/life/disability/hospitalization | Must execute a general release; comply with restrictive covenants for 12 months post-termination . |
| Continuity (Change-in-Control) Agreement | Termination or event during 2 years after, or within 90 days prior to, a change in control | Lump sum: 2x annual salary + cash value at grant of current-year STI award | Immediate vesting of all unvested RSUs; immediate vesting and extended exercise for options | 24 months company-paid medical/dental/life/disability/hospitalization | General release; comply with restrictive covenants for 24 months post-termination . |
| LTI CIC design | CIC vesting terms | No single-trigger CIC provisions for LTI awards (i.e., requires termination + CIC) | — | — | — |
Compensation Peer Group (Benchmarking context)
| Selected 2024 Peer Companies (subset) |
|---|
| Albany International; Badger Meter; Barnes Group; Chart Industries; CIRCOR International; Dorman Products; Douglas Dynamics; Enpro Industries; ESCO Technologies; Franklin Electric; Kadant; Lindsay; Mueller Water Products; NV5 Global; Protolabs; RBC Bearings; Tennant; The Gorman-Rupp Company; Trimas; Watts Water Technologies . |
- HLIO’s 2024 peer benchmarking showed company revenue and market cap near median vs. peers (48% revenue percentile; 45% market cap percentile as of May 8, 2023) .
Performance & Track Record
- Leadership realignment in Electronics under Aldridge aims to streamline operations and focus on 2025 objectives, leveraging his customer relationships and operational depth .
- Under new Electronics leadership in Q3 2025, HLIO de-emphasized i3 Product Development sales not aligned to core strategy, leading to lower projected profits and a non-cash goodwill impairment of $25.9 million in the Electronics segment; the quarter also reflected an $18.8 million gain from the sale of Custom Fluidpower, with net income of $10.3 million for the period .
Vesting Schedules and Insider Selling Pressure
- RSUs vest annually in equal thirds on each grant’s anniversaries (2023, 2024, 2025 grants), creating regular windows for potential share delivery/sales; PBRSUs depend on 3-year performance metrics with service through March 15, 2026 (2023 grant) and March 15, 2027 (2024 grant) .
- Options vest 100% on Feb 27, 2028 and expire Feb 27, 2035; exercise price not disclosed in Form 3, suggesting potential future exercise/sale concentration around vest date .
Governance, Policies, and Risk Indicators
- Clawback policy adopted in 2023 (NYSE/SEC compliant) enables recovery of excess incentive-based compensation after restatements, irrespective of officer fault .
- Anti-hedging, anti-pledging policies; stock ownership requirements in place with 5-year compliance window .
- No tax gross-ups; no option repricing; compensation overseen by an independent Compensation Committee with Mercer as consultant; TSR added to LTI in response to shareholder feedback .
- 2024 NEO list did not include Aldridge; leadership transitions included the former CEO termination for cause (July 29, 2024) and Electronics segment leadership change (March 31, 2025) .
Investment Implications
- Alignment: Aldridge’s equity-heavy package (PBRSUs, RSUs, options) ties pay to segment EBITDA and operating income, with added TSR exposure; hedging/pledging prohibited and ownership guidelines support alignment .
- Retention: Multi-year vesting across 2023–2027 PBRSUs and 2023/2024/2025 RSUs, plus options vesting in 2028, build strong retention hooks; severance (12 months salary + STI target) and CIC continuity (2x salary + STI target with full equity acceleration) reduce abrupt departure risk .
- Execution risk: Electronics PSU outcomes for 2022–2024 were 0%, highlighting prior segment underperformance; Q3 2025 strategy shift and goodwill impairment in Electronics underscore near-term execution risk as Aldridge realigns to core strategy .
- Trading signals: Anticipate periodic RSU deliveries on grant anniversaries and potential option-related activity around Feb 27, 2028; PSU payouts will be sensitive to segment EBITDA and operating income achievements, with TSR now an added LTI lever .