Trey Griffin - Senior Vice President, Human Resources | INNOSPEC (IOSP) Executive Profile & Compensation

About Trey Griffin

Senior Vice President, Human Resources at Innospec Inc., age 59; executive officer since May 1, 2021. Joined Innospec in January 2005 after 15 years at Hewlett-Packard and Agilent in marketing and sales roles; B.S. in Electrical Engineering from Colorado State University . Company performance context: 2024 TSR was -10%; 3-year TSR 49% vs. -3% S&P 1500 Chemicals and 4% Russell 2000; 10-year TSR 192% vs. 112% S&P 1500 Chemicals; TSR since CEO appointment (2009) ~3,000% . 2024 incentive metrics achieved: Corporate Operating Income $209.414m (111% of target) and Corporate Free Cash Flow $150.516m (255% of target) used in annual bonuses .

Past Roles

Organization	Role	Years	Strategic Impact
Innospec Inc.	Senior Vice President, Human Resources	May 2021–present	Leads global HR; supports executive compensation, succession planning, and human capital initiatives .
Innospec Inc.	Vice President, Human Resources, Americas	4 years prior to May 2021	Regional HR leadership; talent, performance management, and workforce planning in the Americas .
Innospec Inc.	Vice President, Operations, Fuel Specialties (Americas)	Prior to VP HR	Operational leadership in Fuel Specialties, supporting margin and growth execution .

External Roles

Organization	Role	Years	Strategic Impact
Hewlett-Packard	Marketing and Sales Management	Part of 15 years combined	Commercial leadership and go-to-market experience .
Agilent Technologies	Marketing and Sales Management	Part of 15 years combined	Commercial leadership and go-to-market experience .

Fixed Compensation

Not disclosed for Trey Griffin; he was not a Named Executive Officer (NEO) in the Summary Compensation Table. Executive annual bonus design (MICP) applies company-wide, but individual targets for Griffin are not disclosed .

Performance Compensation

Annual Management Incentive Compensation Plan (MICP) structure and 2024 outcomes:

Metric	Weighting	Target	Actual	Payout Multiplier	Vesting/Settlement
Corporate Operating Income (before nonrecurring items)	60%	$188.999m	$209.414m	155%	Cash payout under MICP (threshold 90%, target 100%, max at ≥130%) .
Corporate Free Cash Flow (before nonrecurring items)	20%	$58.984m	$150.516m	250%	Cash payout under MICP (threshold 90%, target 100%, max at ≥130%) .
Personal Objectives (individual goals)	20%	36–40 score earns target	Not disclosed for Griffin	0–150% based on score bands	Cash payout under MICP; personal element pays irrespective of financial threshold (change approved in 2024) .

Long-term incentives (company-wide design implemented in 2024):

Award Type	Weighting	Performance Metrics	Measurement Period	Payout Schedule	Service Vesting
PSUs (stock- and cash-settled)	70%	Relative TSR vs. comparator group (30%), Revenue growth (30%), EPS growth (40%)	3-year (e.g., 2024–2026)	TSR: 0–200% based on percentile; Revenue/EPS: 0–100% with linear interpolation (thresholds at 2–5% growth)	3-year service vesting; forfeiture on departure except as Compensation Committee may decide .
RSUs (stock-settled)	30%	Time-based	3 years	N/A (time-based)	3-year vesting; forfeiture rules similar to PSUs .

Additional LTIP (2022–2024 cycle): matured Dec 31, 2024; measures included 2024 EPS, cumulative Performance Chemicals revenue, ESG and succession objectives; payout at 100% of maximum across measures for executive-level participants (program discontinued for new cycles in 2025) .

Equity Ownership & Alignment

Holder	Shares Owned Directly/Indirectly	Right to Acquire (within 60 days)	Total	% of Shares Outstanding
Trey Griffin	1,647	1,986	3,633	<1% (*) .

Anti-hedging and anti-pledging: Directors, officers, and employees are prohibited from hedging Company securities and from pledging/margin accounts without prior approval; approvals require demonstrated ability to repay without resorting to pledged shares .
Stock ownership guidelines: Executive Officers must hold stock equal to 2× base salary (CEO 4×); compliance for Griffin specifically is not disclosed .
Insider trading signal: Trey Griffin filed a late Form 4 for a sale dated November 18, 2024 (filed January 30, 2025) due to administrative error .

Employment Terms

Change-in-control (NEO contract framework): If terminated within 12 months post-COC or resigns for “good cause,” payment equals 24 months’ compensation (base salary + target bonus + any car allowance); all options/full-value awards/cash incentive awards vest upon termination due to COC (COC definition includes ≥30% ownership, non-surviving merger, liquidation/dissolution, or board turnover after a cash offer/merger) .
Termination without cause (NEO framework): 12-month notice; Omnibus options and cash incentive awards granted at market price vest; 12 months to exercise vested awards; treatment consistent with other employees under plan rules .
Executive-level non-compete/non-solicit, garden leave: Not disclosed for Trey Griffin.

Investment Implications

Alignment: Equity ownership is modest in absolute terms (3,633 shares total; <1% of shares outstanding), with 1,986 rights to acquire within 60 days indicating near-term vesting/exercisability that can reduce selling pressure if retained . Anti-hedging/anti-pledging rules reduce misalignment risks from derivatives or collateral pledges .
Incentives: Pay is tied to core value drivers—Operating Income, Free Cash Flow (short-term), and relative TSR, revenue, EPS growth (long-term). 2024 corporate metrics were strong (OI 111% of target; FCF 255%), supporting above-target annual payouts for eligible executives; long-term PSU design adds market-relative discipline .
Trading signals: A late Form 4 for a November 18, 2024 sale suggests recent insider activity, though the filing delay was attributed to administrative error; size and price of the sale are not disclosed in the proxy .
Retention/COC economics: Company-wide NEO frameworks feature meaningful COC protections and time-based RSU plus PSU performance mix that encourages retention; specific contract terms for Griffin are not disclosed .