John Kimble
JAKKS PACIFICAbout John Kimble
Executive Vice President and Chief Financial Officer of JAKKS Pacific since November 20, 2019, with prior senior roles at The Walt Disney Company (12+ years) and Mattel (6 years), plus entrepreneurial and consulting experience at a gaming startup and Mars & Co. He holds a B.S. in Management Science (Finance) from MIT Sloan and an MBA from Wharton . JAKKS’ two-year total shareholder return increased 277% through December 31, 2024, while net income fell ~10% year-over-year to $34.2M in 2024 from $38.1M in 2023, contextualizing pay-for-performance outcomes tied to EBITDA and stock price metrics .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| JAKKS Pacific, Inc. | EVP & CFO | 2019–present | Finance leadership; helped evolve incentive design to EBITDA- and share-price-based structures . |
| The Walt Disney Company | VP Finance, Strategy, Operations & Business Development | 12+ years | Global finance, strategy, ops and BD leadership experience . |
| Mattel, Inc. | VP/Head Corporate Development – Licensing, Acquisitions & M&A | 6 years | Led corporate development, licensing and M&A functions . |
| Startup Gaming Company | Entrepreneur | 2 years | Early-stage operator perspective in gaming . |
| Mars & Co | Consultant | Not disclosed | Strategy consulting foundation . |
Fixed Compensation
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary ($) | $540,800 | $562,432 | $584,929 |
| Target Bonus Range (% of Salary) | 25%–125% (EBITDA-based) | 25%–200% (EBITDA-based) | 25%–200% (EBITDA-based) |
| Actual Bonus Paid ($) | $753,822 | $1,001,805 | $757,018 |
| Nonqualified Deferred Comp Earnings ($) | $0 | $0 | $124,289 |
| All Other Compensation ($) | $42,046 | $52,550 | $54,505 |
Notes:
- Base salary increased to $520,000 in 2021 and by at least 4% annually beginning January 1, 2022 under the amended agreement .
- Perquisites include a $18,000 automobile allowance (2023–2024; $13,000 in 2022) and 401(k) matching ($18,975 in 2024; $18,150 in 2023; $15,250 in 2022) .
Performance Compensation
Annual Incentive Outcomes (by metric)
| Metric | 2022 Outcome | 2023 Outcome | 2024 Outcome |
|---|---|---|---|
| Total Shareholder Return (TSR) | Earned 100% | Earned 100% (cash-payable bonus component) | Not disclosed/applicable for cash bonus; RSU outcomes tied to EBITDA and Net Revenue |
| EBITDA | Earned 100% | Earned 100% | Earned 100% (cash-payable bonus) |
| Net Revenue | Earned 50% | Earned 50% | Earned 50% (remaining performance-based RSUs) |
Long-Term RSU Performance Framework (legacy)
| Metric | Weighting | Vesting Mechanism | Notes |
|---|---|---|---|
| TSR vs Russell 2000 | 50% | 3-year cliff vest on performance | Annual RSU grants split between performance and time-based components . |
| Net Revenue growth vs peer group | 25% | 3-year cliff vest on performance | Targets set annually by Compensation Committee . |
| EBITDA growth vs peer group | 25% | 3-year cliff vest on performance | Targets set annually by Compensation Committee . |
New 2025 Stock-Price RSU Tranches
- Three 4-year RSU tranches vest upon achieving 180 trading days Average VWAP thresholds: $45.00, $52.50, and $60.00; unvested tranches are forfeited if benchmarks are not met, directly linking awards to sustained stock performance .
Equity Ownership & Alignment
| Item | As-of Date | Amount/Detail |
|---|---|---|
| Beneficial Shares Owned | April 23, 2025 | 115,173 shares (1.0% of 11,146,230 outstanding) . |
| Unvested RSUs (footnote disclosure) | April 23, 2025 | 136,102 RSUs unvested, subject to forfeiture unless conditions met (9). |
| Unvested RSUs (year-end table) | December 31, 2024 | 116,568 RSUs; market value $3,281,389 at $28.15 share price; vesting annually until 2027 . |
| Options (exercisable/unexercisable) | December 31, 2024 | None outstanding . |
| Value Realized on 2024 Vesting | 2024 | 26,837 shares; $846,701 . |
| Stock Ownership Guidelines | — | Board minimum stock ownership provisions noted; specific executive thresholds undisclosed (9). |
| Pledging/Hedging | — | Not disclosed in proxy . |
Vesting schedules of specific grants:
- 41,988 RSUs granted October 25, 2022 vest in two equal installments of 20,994 on October 25, 2025 and October 25, 2026, subject to continued employment .
- Annual RSU grants vest in three equal installments on each anniversary of grant (time-based portion) alongside 3-year performance-based cliff vesting (performance portion) .
Employment Terms
| Term | Details |
|---|---|
| Start Date & Role | Became EVP & CFO on November 20, 2019 . |
| Contract Term & Extensions | Term extended to December 31, 2026 (Oct 25, 2022 amendment); further extended to March 31, 2029 on February 18, 2025 . |
| Base Salary Escalators | Increased to $520,000 (Feb 18, 2021 amendment); minimum 4% annual increases from January 1, 2022 . |
| Annual Cash Bonus Opportunity | 25%–125% of base (2021–2024; EBITDA-based); increased to 25%–200% of base (2023–2026) . |
| Equity Grant Sizing (RSUs) | Annual RSUs equal to lesser of (i) 150% of base salary or (ii) 1.50% of outstanding shares (effective January 2023); prior term was lesser of base salary or 1.05% of outstanding shares (effective January 2022) . |
| Change-of-Control Severance | If CoC occurs and within 1 year he is terminated without “Cause” or quits for “Good Reason,” cash severance equals 2× then-current base salary (5). |
| Termination Scenarios (as of 12/31/2024) | Quits for Good Reason/Termination Without Cause: Base Salary $1,169,858; RSUs $3,281,389; Annual cash incentive not payable; similar amounts upon Involuntary Termination in Connection with CoC . |
| Clawback Policy | Dodd-Frank compliant clawback adopted December 1, 2023; recovers erroneously awarded incentive-based compensation over prior 3 fiscal years upon required restatement . |
| Perquisites/Benefits | Automobile allowance and 401(k) matching contributions; executives participate in company-wide health, dental, life insurance, paid time off, and 401(k) programs (2). |
| Tax Gross-up | No excise tax gross-up disclosed for Kimble; (Berman has 280G after-tax optimization clause) (7) . |
Performance Compensation Tables (Company Summary)
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Summary Compensation Total ($) | $2,688,673 | $2,460,435 | $2,398,151 |
| Stock Awards Grant-Date Fair Value ($) | $1,352,005 | $843,648 | $877,410 |
Say-on-Pay, Committee & Peer Practices
- 2024 advisory vote on executive compensation was approved by a majority of votes cast; 2025 agreements added stock price-based RSU tranches in response to shareholder feedback and FWC consultation .
- Compensation Committee engages independent consultants (WTW, Lipis; FWC consulted in 2023–2024) and emphasizes EBITDA-focused annual incentives; peer benchmarking has been deemphasized in favor of internal performance benchmarks in recent years .
Investment Implications
- Strengthening pay-for-performance: Cash bonuses are tied to EBITDA, legacy RSUs to TSR/Revenue/EBITDA (50/25/25), and new 2025 RSUs vest only upon sustained VWAP thresholds ($45/$52.5/$60 over 180 trading days), aligning realizable pay with durable equity performance .
- Vesting supply and potential selling pressure: Annual RSUs vest through 2027, with 20,994 RSUs due on October 25, 2025 and October 25, 2026; 26,837 shares vested in 2024 ($846,701 value), signaling ongoing technical supply from scheduled vests and possible tax-related sales around vesting dates .
- Retention and change-in-control economics: Term extended to March 31, 2029 and CoC protection of 2× base salary support retention; termination tables show ~$1.17M base and $3.28M RSU value at year-end 2024 under several scenarios, suggesting moderate severance exposure without excise tax gross-ups .
- Ownership alignment: 115,173 shares beneficially owned (1.0%) and material unvested RSUs (136,102/116,568 depending on date) indicate meaningful skin-in-the-game; clawback policy enhances governance, though pledging/hedging disclosures are not explicit in the proxy (9) .
- Execution risk context: TSR rose 277% over two years, but net income declined ~10% in 2024; EBITDA-driven incentives may counterbalance earnings variability, while the stock-price RSUs add direct market alignment and potential dilution if thresholds are met .