Brett A. Hillman
About Brett A. Hillman
Executive Vice President, Sales & Field Service at Hillman Solutions since February 2024; age 45 . Hillman has been his career home since 2005, progressing through sales leadership roles across major retail accounts and traditional hardware before running the Hardware Solutions division and then leading Sales & Field Service . Education: B.S. Finance, University of Kentucky . Company performance over his recent tenure ties executive pay to Adjusted EBITDA and leverage; FY2024 Adjusted EBITDA was $241,753k and TSR index value was 98.70, while Net Income improved to $17,255k .
Company performance context (pay-versus-performance measures)
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Total Shareholder Return ($) | 103.20 | 105.80 | 72.64 | 92.80 | 98.70 |
| Net Income ($USD Thousands) | (24,499) | (38,332) | (16,436) | (9,589) | 17,255 |
| Adjusted EBITDA ($USD Thousands) | 221,215 | 207,418 | 210,249 | 219,360 | 241,753 |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Hillman Solutions | EVP, Sales & Field Service | 2024–present | Oversees US sales and field service execution across key retail and hardware channels |
| Hillman Solutions | VP & GM, Hardware Solutions | 2022–2024 | Led division operations and go-to-market for hardware portfolio |
| Hillman Solutions | VP, Traditional Hardware & Strategic Accounts Sales | 2019–2022 | Drove growth across national accounts in hardware retail |
| Hillman Solutions | Director, Traditional Hardware Sales | 2016–2019 | Led one of the industry’s largest field sales teams |
| Hillman Solutions | Director, Tractor Supply & Home Depot Sales | 2014–2016 | Managed sales strategy and relationships for two top big-box customers |
| Hillman Solutions | Various sales leadership roles | 2005–2013 | Progressive responsibility across sales operations and key accounts |
External Roles
No public company directorships or external board roles disclosed for Brett A. Hillman in company filings .
Fixed Compensation
Not disclosed for Brett A. Hillman; he is not listed among Named Executive Officers (NEOs) in FY2024 proxy compensation tables .
Performance Compensation
Hillman’s executive annual bonus program emphasizes pay-for-performance, with 2024 metrics and weights consistent across NEOs and broadly indicative of senior executive incentives structure.
| Component | Metric | Weighting (% of bonus) | Threshold | Target | Maximum | Actual Reported | Deemed Achievement | Resulting Payout Factor (%) |
|---|---|---|---|---|---|---|---|---|
| Annual Cash Bonus | Adjusted EBITDA (FY2024) | 70% | $219,400k | $235,000k | $260,000k | $241,753k | $248,000k (adjusted) | 152.0% |
| Annual Cash Bonus | Adjusted Leverage Ratio (Net Debt/Adj. EBITDA) | 30% | 3.3 | 2.9 | 2.5 | 2.8 | 2.6 (adjusted) | 179.5% |
| Notes | Adjustments excluded True Value bankruptcy and Intex DIY acquisition impacts for compensation | — | — | — | — | — | — | — |
| Vesting/Timing | Annual bonuses determined on FY performance with standard payout timing | — | — | — | — | — | — | — |
The Compensation Committee sets targets annually; Adjusted EBITDA must meet threshold for funding; payout follows sliding scale between threshold and maximum . Adjusted Leverage Ratio defined as Net Debt / Adjusted EBITDA (Net Debt $674,100k; Adj. EBITDA $241,753k → ratio 2.8) .
Equity Ownership & Alignment
- Insider grants and vesting activity indicate ongoing equity alignment, with RSUs vesting over three years and tax withholding at vest.
- Insider policies prohibit hedging and pledging by directors and executive officers ; equity plan includes robust clawback/forfeiture provisions and restrictions on transferability .
Insider transactions and holdings
| Date | Type | Security | Amount | Price | Holdings After | Source |
|---|---|---|---|---|---|---|
| 01/11/2025 | Tax withholding on vesting (Code F) | Common Stock | 5,229 | $9.29 | 58,098 (direct) | |
| 03/07/2025 | RSU grant | RSUs → Common Stock | 20,942 | $0 | 79,040 (direct) |
Form 4 explanation: RSUs vest in three equal annual installments beginning on the first anniversary of grant, subject to continued employment .
RSU vesting schedule (as disclosed)
| Grant Date | Instrument | Vesting Dates | Installments | Conditions |
|---|---|---|---|---|
| 03/07/2025 | RSUs (20,942) | 03/07/2026; 03/07/2027; 03/07/2028 | ~6,981 per year | Continued employment to vest |
Ownership guidelines and pledging
- Stock ownership guidelines: Other Executive Officers must hold Hillman stock equal to 1x base salary; Divisional Presidents 2x; CEO/Executive Chairman 5x; CFO/COO 3x . Compliance status for Brett Hillman not disclosed .
- Prohibition: Hedging and pledging of Hillman securities by executive officers is prohibited per Insider Trading Policy .
Employment Terms
- Executive Severance Plan (effective November 2, 2023) standardizes severance for NEOs (excluding certain roles) with enhanced benefits if termination occurs within 24 months post-change-in-control; includes salary continuation, pro‑rated bonus, COBRA premiums, and structured bonus multiples by role .
- Restrictive covenants: Employment and award agreements require confidentiality and include non‑compete (one year) and non‑solicit (two years) restrictions, with clawback/forfeiture under the Equity Incentive Plan for violations .
- Clawback policy: Compensation Recovery Policy provides for recovery of certain executive compensation upon accounting restatements per SEC rules ; equity plan embeds clawback and forfeiture mechanisms .
Investment Implications
- Alignment: Ongoing RSU grants with multi‑year vesting and explicit prohibition on hedging/pledging suggest strong alignment and reduced leverage risk .
- Vesting cadence: The 03/07/2025 RSU grant creates expected vest events in March 2026–2028; anticipate tax‑withholding Form 4s and potential net share dispositions around these dates (Code F observed on 01/11/2025), implying periodic insider selling pressure tied to vesting rather than discretionary sales .
- Pay-for-performance: Executive bonuses are driven by Adjusted EBITDA and leverage reduction; FY2024 over‑target performance (Adjusted EBITDA 105.5% of target post adjustments; leverage 112.4% of target) generated 150–180% payout factors for NEOs, signaling a compensation framework that rewards deleveraging and cash generation .
- Retention risk: No Brett-specific severance participation disclosed; however, company-wide severance and restrictive covenants plus three-year RSU vesting support retention. Monitor future grants and any role changes via 8‑Ks (Item 5.02) .