Laurel A. Yartz
LAKELAND INDUSTRIESAbout Laurel A. Yartz
Laurel A. Yartz is Chief Human Resources Officer (CHRO) at Lakeland Industries (LAKE), appointed August 1, 2024; she is 52 and holds an MBA from the University of Rochester (Simon) and a BS in Business Administration (HR & Strategic Management) from California State University, Sacramento . Company-level performance context during her tenure includes FY2025 net income of -$18.075 million and a cumulative TSR value of $112 for a $100 investment measured to January 31, 2025 . LAKE’s executive pay framework emphasizes performance alignment through company-wide STIP metrics (revenue growth, Adjusted EBITDA margin, free cash flow margin) and longer-term RSUs/PSUs linked to multi-year revenue and margin goals .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Lewis Services | Senior Human Resources Leader | Jul 2023 – Jun 2024 | Led HR initiatives for a services enterprise; senior HR leadership scope . |
| CooperVision, Inc. | Sr. HR Director, Americas (Commercial) & Global IT | Jul 2020 – Jun 2023 | Managed HR for commercial Americas and global IT functions at a leading eye-care firm . |
| Corning Incorporated | Sr. HR Leader, Shared Services | Aug 2019 – Jul 2020 | Drove HR strategy for corporate shared services at a global materials company . |
| Corning Incorporated | Sr. HR Leader, Information Technology | Aug 2017 – Aug 2019 | Supported HR for IT organization in a complex global environment . |
| Thermo Fisher Scientific; Carestream; University of Rochester Medical Center; American Standard Brands | Various HR roles | Not disclosed | Progressive HR experience across healthcare, life sciences, industrial and academic settings . |
Fixed Compensation
- LAKE is a smaller reporting company that discloses compensation for NEOs (CEO, CFO, COO); CHRO base salary, bonus target and cash payouts are not individually disclosed in the proxy .
- Stock ownership guidelines require “other officers” (including the CHRO) to hold company shares equal to 2x base salary; dispositions of award shares are prohibited until guidelines are met, and then limited to 50% of issued awards .
Performance Compensation
Annual Incentive (STIP) – FY2025 structure (applies to executives company-wide)
| Metric | Weighting (%) | Target/Payout Structure | Notes |
|---|---|---|---|
| Revenue Growth | 35% | 50% payout at minimum, 100% at target, 200% at max | Corporate performance goals approved by Compensation Committee . |
| Adjusted EBITDA Margin | 35% | 50% payout at minimum, 100% at target, 200% at max | Company-level margin focus . |
| Free Cash Flow Margin | 15% | 50% payout at minimum, 100% at target, 200% at max | Emphasis on cash conversion . |
| Individual Performance Goals | 15% | Determined per executive | Role-specific objectives . |
Long-Term Incentives – PSUs granted May 1, 2025 (Laurel A. Yartz)
| Grant Date | Instrument | Target Units | Measurement Dates | Threshold/Max | Vesting Condition |
|---|---|---|---|---|---|
| May 1, 2025 | Performance Stock Units (PSUs) | 25,440 | Jan 31, 2029 and Jan 31, 2031 | Threshold: 80% of target by Jan 31, 2031; Max: 120% of target units | Continued employment through certification of achievement . |
| PSU Performance Metric | Company Target |
|---|---|
| Total Revenue | $258.7 million . |
| Fire Services Revenue | $161.8 million . |
| Adjusted EBITDA | $47.1 million . |
- PSUs vest only upon achievement of the independent metrics above; unearned PSUs are forfeited if thresholds are not met by Jan 31, 2031 .
- Executives can earn up to 120% of the target PSUs based on actual performance .
Equity Ownership & Alignment
| Policy/Guideline | Details |
|---|---|
| Stock Ownership Guidelines | Other officers must hold shares equal to 2x base salary; directors 2x annual cash retainer; CEO 4x base salary . |
| Disposition Limits | No disposition of award shares until guidelines met; thereafter limited to 50% of issued awards . |
| Anti-Hedging & Anti-Pledging | Officers/directors/employees prohibited from hedging and from holding/pledging company securities in margin accounts . |
| Clawback | Dodd-Frank compliant Clawback Policy (Nov 2023): recovery of erroneously awarded incentive compensation upon a financial restatement for a 3-year lookback; applies to current/former Section 16 officers . |
| Insider Trading Policy | Global policy governs trading; filed as Exhibit 19.1 to FY2025 Form 10-K . |
Employment Terms
| Scenario | Cash Severance | Bonus Treatment | Benefits | Trigger Type/Window | Notes |
|---|---|---|---|---|---|
| Termination without Cause or resignation for Good Reason (outside CIC period) | 1 month of base salary per year of service (min 4 months, max 12 months) | Pro-rated STIP cash bonus based on actual performance | N/A | N/A | Severance & Change-in-Control Plan (adopted Oct 31, 2024) . |
| Termination without Cause or resignation for Good Reason within -90 days to +18 months of a Change in Control | 1.5x (for non-CEO executives) of base salary + target STIP cash bonus | Pro-rated target STIP bonus for year of termination | COBRA reimbursement (net of active rate) up to 18 months | Double-trigger (requires qualifying termination around CIC) | Non-solicitation and non-disparagement covenants apply . |
- LAKE moved away from individual employment agreements beginning FY2025; executive participation is now via the Severance and CIC Plan (CHRO is a covered participant) .
Investment Implications
- Long-dated PSUs (out to FY2031) tightly link CHRO equity outcomes to company-scale revenue and EBITDA targets, with a heavy emphasis on Fire Services growth—positive alignment with long-term value creation but limited near-term realizations; failure to meet thresholds results in forfeiture .
- Ownership guidelines, anti-hedging/anti-pledging, and clawback policy reduce misalignment and selling pressure risk, supporting governance quality; dispositions are constrained until guideline compliance .
- Retention risk appears mitigated by the Severance & CIC Plan (1.5x salary+target bonus and COBRA under double-trigger CIC), offering stability during strategic transitions or M&A; outside CIC, severance scales with tenure (min 4–max 12 months) .
- Current proxy does not disclose CHRO base salary or bonus target/payouts (smaller reporting company NEO scope limits), making granular pay-for-performance assessment incomplete; monitor future proxies and Forms 4 for vesting and any share dispositions consistent with policy constraints .