Richard N. Grant, Jr.

President, Chief Executive Officer, and Director at inTest Corp

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 Corp

Duncan Gilmour

Chief Financial Officer, Treasurer, and Secretary

Joseph McManus

Division President, Electronic Test

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

Organization	Role	Date Range	Details
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 Name	Amount	Payment Schedule	Additional Details
Annual Base Salary	$415,414	Annually	Fixed annual salary
401(k) Matching Contributions	$4,750	As specified	Employer 401(k) matching contributions

Performance Compensation

Data from FY 2023

Short-Term Incentives

Metric/Component	Details
Weighting	Financial Performance (60%) based on revenue and Adjusted EBITDA targets; Strategic Performance (20%) for acquisitions; Asset Performance (20%) based on final average net working capital
Thresholds	Revenue: 80% (min) to 120% (max); Adjusted EBITDA: 80% (min) to 114% (max)
Payout Details	Target Bonus: $290,789; Actual Payout: $247,171 (85% of target)
Vesting Schedule	Not applicable; payout based on performance evaluation during 2023
Evaluation Period	2023

Performance-Vested Restricted Stock Awards (PSAs)

Metric/Component	Details
Grant Date	March 8, 2023
Number of Shares Granted	9,859 shares
Grant Date Stock Price	$16.06
Vesting Schedule	Vests on March 6, 2027 subject to achieving the performance metric (adjusted EBITDA percentage for the year ended December 31, 2026)
Performance Metric	Adjusted EBITDA percentage; specific thresholds not disclosed

Stock Options

Metric/Component	Details
Grant Date	March 8, 2023
Number of Options Granted	16,988 options
Grant Date Fair Value	$9.32 per share
Exercise Price	$16.06
Vesting Schedule	25% annually starting on March 8, 2024
Performance Metrics	Time-vested; no additional performance criteria