Darren Parmenter
Hilltop HoldingsAbout Darren Parmenter
Darren E. Parmenter, 62, is Executive Vice President and Chief Administrative Officer (CAO) of Hilltop Holdings (HTH). He has served as CAO since September 2016, previously as Executive Vice President and Principal Financial Officer (Feb 2014–Sep 2016) and Senior Vice President of Finance (Jun 2007–Feb 2014); earlier roles include Controller of Operations at Affordable Residential Communities (Apr 2002–Jun 2007) and Assistant Controller at Albertsons prior to 2000 . Company incentive design links executive pay to financial performance, emphasizing TSR, EPS, and net income, with 2024 adjusted Hilltop net income at 111% of target and divisional goals for PlainsCapital, Hilltop Securities, and PrimeLending used to determine payouts .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Hilltop Holdings | EVP & Chief Administrative Officer | Sep 2016–Present | Not disclosed in filings |
| Hilltop Holdings | EVP & Principal Financial Officer | Feb 2014–Sep 2016 | Not disclosed in filings |
| Hilltop Holdings | SVP Finance | Jun 2007–Feb 2014 | Not disclosed in filings |
| Affordable Residential Communities (Hilltop predecessor) | Controller of Operations | Apr 2002–Jun 2007 | Not disclosed in filings |
| Albertsons Inc. | Assistant Controller | Pre-2000 | Not disclosed in filings |
External Roles
- No external public-company directorships or board roles for Darren Parmenter are disclosed in the executive officer biographies we retrieved .
Fixed Compensation
- Parmenter is an executive officer but not a named executive officer (NEO); individual base salary, target bonus %, and bonus paid are not disclosed in the Summary Compensation Table for 2024–2022, which covers NEOs only .
- Annual Incentive Plan (AIP) structure used for executives: payouts range from 50% at threshold to a maximum of 200% for financial goals and 150% for strategic goals; awards are determined post-audit of company financials .
Performance Compensation
Annual Incentive Plan – 2024 Financial Targets and Results
| Metric | Threshold ($mm) | Target ($mm) | Maximum ($mm) | Actual ($mm) | Achievement (% of Target) |
|---|---|---|---|---|---|
| Adjusted Hilltop Net Income | 65 | 108 | 135 | 120 | 111% |
| PlainsCapital Adjusted Pre-Tax Income | 118 | 197 | 246 | 196 | 99% |
| Hilltop Securities Pre-Tax Income | 35 | 58 | 72 | 63 | 110% |
| PrimeLending Net Income | 24 | 40 | 50 | (31) | —% (below threshold) |
| PrimeLending Funded Volume | 4,920 | 8,200 | 10,250 | 8,616 | 105% |
- Most important financial performance measures used to link compensation to performance: TSR, basic EPS, net income .
Long-Term Incentives (RSUs)
| Award Type | Vesting Schedule | Performance Period | Notable Dates / Examples |
|---|---|---|---|
| Time-based RSUs (TRSUs) | Cliff vest on 3rd anniversary of grant | N/A | Many TRSUs outstanding as of 12/31/24 cliff vested on Feb 8, 2025 |
| Performance-based RSUs (PRSUs) | Cliff vest based on 3-year performance goals | 3-year (e.g., 2024–2026) | PRSUs incorporate a TSR modifier; fair value reflects probable outcome |
- Equity awards for NEOs consist of time-based and performance-based RSUs; HTH does not grant stock options to NEOs; no defined-benefit pension plan participation for NEOs .
Equity Ownership & Alignment
| Policy/Control | Detail | Applicability |
|---|---|---|
| Executive stock ownership guidelines | CEO: 6x base salary; Other executive officers: 3x base salary; hold 50% of net shares until guidelines achieved | Applies to executive officers; compliance status for Parmenter not disclosed in retrieved sections |
| Trading preclearance & 10b5‑1 plans | Executives must obtain General Counsel approval; trading generally only in open windows; 10b5‑1 plans must include waiting period and cannot be amended during term | Executive officers (includes Parmenter) |
| Hedging/short sales/derivatives | Executives prohibited from hedging, short sale, and derivative transactions; restrictions on pledging | Executive officers (includes Parmenter) |
| RSU post‑vest holding | RSUs granted since Feb 2014 to NEOs must be held for 1 year after vesting (subject to exceptions) | NEOs; Parmenter is not an NEO in the 2024–2025 disclosures |
| Change-of-control (equity) | Under HTH equity plans, unvested RSUs may accelerate upon certain change-of-control scenarios; double-trigger acceleration for certain executives (illustrated in NEO disclosures) | Plan-level policy; individual terms for Parmenter not disclosed |
| Buybacks to offset dilution | Board increased 2025 repurchase authorization to $185mm, inclusive of repurchases to offset dilution from stock-based compensation grants |
Note: We attempted to fetch Form 4 insider transactions for “Parmenter” via the insider-trades skill to assess current ownership/vesting-driven selling pressure, but the API returned an authorization error; consider monitoring future Form 4 filings for transaction-level insight.
Employment Terms
- Company-wide policy indicates no broad severance/change‑in‑control programs beyond equity plan provisions; historically severance has been discretionary and based on tenure/compensation when terminations occur other than for cause .
- Incentive Compensation Clawback Policy adopted Oct 19, 2023 and amended Jan 2025 to cover additional items beyond financial information; applies to annual cash and long‑term incentive awards, including RSUs .
Investment Implications
- Pay-for-performance alignment: HTH’s AIP ties payouts to net income and divisional performance, with TSR/EPS included among most important measures, supporting linkage between executive rewards and shareholder outcomes .
- Selling pressure and alignment: Three-year cliff vesting for RSUs, trading preclearance, and prohibitions on hedging/pledging reduce short-term selling pressure and alignment risks for executive officers; post-vest holding applies to NEOs, though Parmenter is not an NEO in recent disclosures .
- Data gaps: Parmenter’s individual cash compensation, grant sizes, and beneficial ownership are not disclosed in the retrieved proxy sections; monitor future DEF 14A and Item 5.02 8-K updates, and Form 4 filings for transaction-based signals .
- Dilution management: Active buyback program explicitly offsets dilution from equity awards, mitigating EPS impact of executive equity grants and potentially supporting TSR .