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Richard N. Grant, Jr.

President, Chief Executive Officer, and Director at INTEST
Board
Since August 2020
Age
54 years
Education
Earned a Bachelor of Science in Physics from Northern Kentucky University and an Executive MBA from Xavier University.
Tenure
Was appointed as President and Chief Executive Officer and elected as a director effective August 2020.

Also at INTEST

DG
Duncan Gilmour
Chief Financial Officer, Treasurer, and Secretary
JM
Joseph McManus
Division President, Electronic Test
MG
Michael Goodrich
Division President, Process Technologies

About

Richard N. Grant, Jr. currently serves as President, Chief Executive Officer, and Director of inTEST Corporation, having been appointed to these roles effective August 2020. At 54 years of age as of Q1 2024, his leadership is marked by extensive experience and a commitment to driving corporate strategy.

Prior to his tenure at inTEST, he accumulated a wealth of experience working in major corporations such as ABB Ltd, AMETEK Inc., and Emerson Electric. His roles in these organizations involved strategic planning, general management, and operational leadership that have shaped his expertise in the technology and measurement sectors.

His educational background, which includes a Bachelor of Science in Physics and an Executive MBA, has been a cornerstone for his professional achievements. With a strong foundation in both technical and business disciplines, his career reflects a blend of technical acumen and executive insight that continues to benefit the company and its stakeholders.

$INTT Performance Under Richard N. Grant, Jr.

Past Roles

OrganizationRoleDate RangeDetails
ABB Ltd Senior Vice President, Americas Region Measurement & Analytics June 2017 to August 2020 Managed operations in the Americas for the Measurement & Analytics division.
AMETEK Inc. Corporate Vice President and General Manager, Materials Analysis Division April 2013 to June 2017 Also served as Operating Officer (2013–2017) and board member of SEIKO EG&G CO. LTD. (2016–2017).
Emerson Electric Vice President/General Manager, Temperature Business Unit of Rosemount Measurement April 2011 to April 2013 Held a leadership role focused on business unit management.
Emerson Electric Vice President, Strategic Planning for Emerson Process Management October 2007 to April 2011 Played a key role in strategic planning initiatives.

Fixed Compensation

Data from  FY 2023
Component NameAmountPayment ScheduleAdditional Details
Annual Base Salary$415,414 AnnuallyFixed annual salary
401(k) Matching Contributions$4,750 As specifiedEmployer 401(k) matching contributions

Performance Compensation

Data from  FY 2023

Short-Term Incentives

Metric/ComponentDetails
WeightingFinancial Performance (60%) based on revenue and Adjusted EBITDA targets; Strategic Performance (20%) for acquisitions; Asset Performance (20%) based on final average net working capital
ThresholdsRevenue: 80% (min) to 120% (max); Adjusted EBITDA: 80% (min) to 114% (max)
Payout DetailsTarget Bonus: $290,789; Actual Payout: $247,171 (85% of target)
Vesting ScheduleNot applicable; payout based on performance evaluation during 2023
Evaluation Period2023

Performance-Vested Restricted Stock Awards (PSAs)

Metric/ComponentDetails
Grant DateMarch 8, 2023
Number of Shares Granted9,859 shares
Grant Date Stock Price$16.06
Vesting ScheduleVests on March 6, 2027 subject to achieving the performance metric (adjusted EBITDA percentage for the year ended December 31, 2026)
Performance MetricAdjusted EBITDA percentage; specific thresholds not disclosed

Stock Options

Metric/ComponentDetails
Grant DateMarch 8, 2023
Number of Options Granted16,988 options
Grant Date Fair Value$9.32 per share
Exercise Price$16.06
Vesting Schedule25% annually starting on March 8, 2024
Performance MetricsTime-vested; no additional performance criteria