Tiffany Mason
H&R BLOCKAbout Tiffany Mason
Tiffany L. Mason, 49, joined H&R Block as EVP, Finance on August 5, 2024 and became Chief Financial Officer on September 13, 2024; she is not party to a standalone employment agreement and her compensation terms were set via the company’s programs . She holds a BBA in Accounting from Loyola University Maryland, is a CPA, and serves as Audit Committee Chair on the board of Leaf Home (private, Gridiron Capital–backed) . As context for performance alignment, HRB delivered FY2025 revenue of $3,761.0 million (+4.2% YoY), EBITDA of $976.3 million (+1.4% YoY), and EPS of $4.42 (+6.8% YoY), with adjusted EPS of $4.66; these were achieved alongside double‑digit small business revenue growth and strong assisted/DIY revenue growth . HRB’s FY2025 STI plan paid at 96.2% of target based on weighted performance in revenue, pre‑tax earnings, and U.S. new clients, tying executive cash pay tightly to operating outcomes .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Driven Brands Holdings Inc. | EVP & CFO | 2020–2023 | Led IPO; track record of delivering results that surpassed Street expectations |
| Lowe’s Companies, Inc. | Interim CFO; SVP Corporate Finance & Treasurer; VP Finance & Treasurer; VP Investor Relations; Director External Reporting & Accounting Policy | 2006–2019 | Led treasury, finance, IR, and accounting policy in a Fortune 50 omni‑channel retailer |
| PwC; Bank of America; McCormick & Company | Various finance roles | Not disclosed | Early career roles at blue‑chip firms |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Leaf Home (private; Gridiron Capital backed) | Director; Audit Committee Chair | Current | Home improvement products/services |
Fixed Compensation
| Item | FY2025 Value | Notes |
|---|---|---|
| Base Salary ($) | 615,000 | Set on hire; disclosed in 8‑K |
| Target Bonus (%) | 90% of base | Pro‑rated in FY2025 based on start date |
| Target Bonus ($) | 553,500 | Pro‑rated target $500,425 based on Aug 5, 2024 start |
| Actual STI Paid ($) | 481,295 | Paid at 96.2% of target per plan results |
Performance Compensation
Annual STI – FY2025 Achievement and Payout
| Metric | Weight | Result (% of target) | Payout Contribution (%) |
|---|---|---|---|
| Revenue from Continuing Ops | 40% | 106.5% | 42.6% |
| Pre‑Tax Earnings from Continuing Ops | 40% | 96.5% | 38.6% |
| U.S. New Clients | 20% | 74.9% | 15.0% |
| Total | 100% | — | 96.2% payout vs target |
Notes: STI targets were set in August 2024 to align with HRB’s Board‑approved operating plan and enterprise strategy .
Long‑Term Incentive (LTI) – Grants and Vesting
| Element | Grant Date | Units (#) | Grant Date Fair Value ($) | Vesting |
|---|---|---|---|---|
| PSUs (FY2025 annual LTI) | Aug 31, 2024 | 12,596 | 845,066 | 3‑year performance period (7/1/2024–6/30/2027); vests 8/31/2027 |
| RSUs (FY2025 annual LTI) | Aug 31, 2024 | 7,187 | 455,009 | Ratable in thirds starting 8/31/2025 |
| One‑Time Retention Award (CEO transition) | Aug 31, 2025 | Notional split 65% PSUs / 35% RSUs | 750,000 | Same terms as annual LTI grants |
PSU performance metric is three‑year cumulative EBITDA from continuing operations, with an up/down ±25% TSR relative modifier vs S&P 400, capped at 200% total payout; executives must hold at least 50% of gross shares earned for one year post‑vesting . RSUs carry no voting rights and accumulate dividend equivalents payable only upon vesting .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership (shares) | 1,385 as of Sept 15, 2025 (less than 1% of class) |
| Share Units / Equivalents | Not disclosed for Mason in security ownership table |
| Stock Ownership Guidelines | Senior Leadership Team must hold 3x base salary; retain 50% of Covered Shares until compliance; 5‑year window to attain |
| PSU Post‑Vesting Hold | Must retain at least 50% of gross PSU shares for one year |
| Hedging/Pledging | Prohibited by Insider Trading Policy; no margin accounts |
Employment Terms
| Topic | Terms |
|---|---|
| Start & Appointment | Joined Aug 5, 2024 as EVP, Finance; CFO effective Sep 13, 2024 |
| Employment Agreement | Not pursuant to an employment agreement; participates in company plans |
| Severance Plan Participation | Participant in H&R Block Executive Severance Plan |
| Severance – Non‑CIC | 1.5x annual base salary + STI target; plus 12 months COBRA subsidy; pro‑rated STI based on actual performance; outplacement up to 15 months |
| Severance – CIC (Double Trigger) | 2.0x annual base salary + STI target; plus 12 months COBRA subsidy; pro‑rated STI at target; double‑trigger equity terms per award agreements |
| Equity Treatment on Termination | Pro‑rata or full vesting for PSUs/RSUs upon retirement, death or disability after >1 year from grant; involuntary without cause → PSUs pro‑rata (RSUs forfeit); committee can waive performance goals at CIC with time‑based vesting; double‑trigger equity acceleration policy |
| Clawback | Company policy to recover erroneously awarded incentive comp after restatement; broader award agreement clawbacks and forfeiture for cause‑like conduct |
| Restrictive Covenants | Post‑employment: non‑disclosure (3 years), non‑solicit employees (1 year), non‑solicit significant customers (2 years), non‑compete (2 years); standard indemnification agreement in place |
Investment Implications
- Pay‑for‑performance alignment: Mason’s FY2025 cash bonus was formulaic at 96.2% of target, with STI metrics balanced across revenue, pre‑tax earnings, and client growth; LTI is majority PSUs tied to 3‑year EBITDA and relative TSR, promoting multi‑year value creation and retention via hold requirements .
- Retention risk mitigated: A one‑time $750,000 retention grant during the CEO transition (65% PSUs/35% RSUs) increases unvested equity and raises opportunity cost of departure over the next 1–3 years .
- Severance economics and change‑of‑control: Participation in the Executive Severance Plan with 1.5x (non‑CIC) and 2.0x (CIC) salary+target bonus and double‑trigger equity treatment reduces disruption risk, but creates defined termination incentives that investors should consider in M&A scenarios .
- Insider selling pressure signals: Annual RSU tranches vest each Aug 31 and PSUs vest on Aug 31, 2027; PSU post‑vesting 50% hold and company‑wide hedging/pledging prohibitions limit immediate sell‑through, but vesting dates can increase liquidity around windows; monitor Form 4s near vest dates .
- Ownership alignment: Direct beneficial ownership is modest (1,385 shares; <1%), but HRB’s 3x salary ownership guideline with mandatory retention and multi‑year PSU design supports alignment; company‑level Say‑on‑Pay support (98% in 2024) signals shareholder acceptance of the program .