Thomas Sedlak
LIVE VENTURESAbout Thomas Sedlak
Thomas Sedlak, 54, is Chief Executive Officer of Precision Industries, Inc. (Precision Marshall), a Live Ventures subsidiary, appointed July 14, 2020; he previously served as Senior Vice President beginning November 2017, Manager of Operations beginning October 2008, and earlier as Controller . He holds a Bachelor’s degree from Robert Morris University and an MBA from the University of Pittsburgh’s Katz Graduate School of Business; earlier career roles included financial management and controllership at PPG Industries and DQE Energy Services . Company performance context during his tenure: Revenues increased from $355.2M in FY 2023 to $472.8M in FY 2024, while EBITDA declined from $29.7M (FY 2023) to $21.6M (FY 2024); FY 2024 net income was a loss of $26.7M and the cumulative TSR declined to $53.73 (value of $100 investment) in FY 2024 (revenues and EBITDA from S&P Global). Revenues FY2023: $355.2M ; Revenues FY2024: $472.8M ; EBITDA FY2023: $29.7M ; EBITDA FY2024: $21.6M.
Values retrieved from S&P Global. Items marked with * have no document citation.
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Precision Industries, Inc. (Precision Marshall) | Chief Executive Officer | Jul 14, 2020–present | Leads subsidiary operations and execution post-acquisition . |
| Precision Industries, Inc. | Senior Vice President | Nov 2017–Jul 2020 | Senior leadership over operations ahead of CEO transition . |
| Precision Industries, Inc. | Manager of Operations | Oct 2008–Nov 2017 | Oversaw plant/operations management . |
| Precision Industries, Inc. | Controller | Prior to Oct 2008 | Financial controls and reporting foundation . |
| PPG Industries | Financial management/controllership | Prior to joining Precision Marshall | Corporate finance experience . |
| DQE Energy Services | Financial management/controllership | Prior to joining Precision Marshall | Corporate finance experience . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| — | — | — | No current external directorships or other public company roles disclosed in the proxy . |
Fixed Compensation
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Base salary ($) | 446,749 | 504,857 |
| All other compensation ($) | 90,044 (vehicle allowance $21,800; deferred comp $63,704; life insurance $4,540) | 104,926 (vehicle allowance $28,800; deferred comp $71,586; life insurance $4,540) |
Perquisites and Deferred Compensation Detail
| Component | FY 2023 | FY 2024 |
|---|---|---|
| Vehicle allowance ($) | 21,800 | 28,800 |
| Deferred compensation ($) | 63,704 | 71,586 |
| Life insurance premiums ($) | 4,540 | 4,540 |
Performance Compensation
| Element | Structure | Target | Weighting | Actual payout FY 2023 | Actual payout FY 2024 |
|---|---|---|---|---|---|
| Annual bonus | Annual cash incentive | Up to 100% of base salary | 75% EBITDA; 25% discretionary | 681,832 | 325,000 |
The Compensation Committee did not utilize benchmarking or a formal peer group; pay mix emphasizes base salary and annual cash bonus; no equity awards to Sedlak in 2023–2024 .
Equity Ownership & Alignment
| Item | Status |
|---|---|
| Beneficial ownership (shares) | Not listed with any beneficially owned shares as of May 9, 2025 (table shows “—”) . |
| Percent of outstanding | “—” (not shown; implies <1% and no disclosed holdings) . |
| Options outstanding (FY-end 2024) | None (no options listed for Sedlak) . |
| Stock/RSU awards outstanding | None disclosed; no stock awards in 2023–2024 for Sedlak . |
| Hedging policy | Company prohibits hedging transactions designed to offset declines in Company securities value . |
| Pledging | No pledging by Sedlak disclosed (not mentioned) . |
| Ownership guidelines | Not disclosed for executives (no policy noted in proxy) . |
Employment Terms
| Term | Detail |
|---|---|
| Agreement | Precision Marshall employment agreement effective July 14, 2020 (as amended), term through Sep 30, 2027 . |
| Base salary | At least $475,000 . |
| Annual bonus | Up to 100% of base; 75% tied to mutually agreed EBITDA targets; 25% discretionary . |
| Benefits/perquisites | Vehicle allowance $2,400/month; $400/month toward premiums on a $4.0M life policy; annual contribution equal to 15% of base salary under deferred comp agreement; standard health/benefits . |
| Severance (termination without Cause) | 9 months’ continued base salary plus prorated annual bonus for year of termination (based on performance) . |
| Change-of-control | If terminated (other than for Cause, death, disability) within six months post-CoC, severance equals 24 months of base salary (double-trigger) . |
| Restrictive covenants | Customary confidentiality, non-compete, non-solicit, and non-disparagement . |
Company Performance Context (for incentive alignment)
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Revenues ($) | 355,171,000 | 472,840,000 |
| EBITDA ($) | 29,706,000 | 21,627,000* |
Values retrieved from S&P Global. Items marked with * have no document citation.
| Measure | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Value of $100 investment (TSR) | 67.70 | 112.93 | 53.73 |
| Net income ($000s) | 24,741 | (102) | (26,685) |
Compensation Committee and Governance Notes
- Compensation Committee members: Richard D. Butler, Jr. (Chair), Dennis (De) Gao, Tyler Sickmeyer; all independent under Nasdaq/SEC rules .
- No external compensation consultants and no benchmarking/peer group used for NEO pay in FY 2024 .
- Say-on-pay: Stockholders vote on a triennial basis; Board recommends “once every three years” for frequency; prior vote in 2022 had overwhelming approval of NEO compensation .
Investment Implications
- Alignment and selling pressure: Sedlak had no disclosed beneficial ownership and no outstanding equity awards at FY-end 2024, indicating low potential insider selling pressure from him—but also weaker long-term equity alignment versus cash-heavy incentives .
- Incentive design and execution risk: Annual bonus is heavily EBITDA-based (75%), which ties pay to operating performance but may bias toward near-term EBITDA optimization; discretionary 25% adds subjectivity .
- Retention risk: Contract runs through Sep 30, 2027; severance provides 9 months base on termination without Cause and a double-trigger 24-month base multiple on CoC termination—moderate protection that may aid retention despite limited equity lock-in .
- Governance context: No pay benchmarking and simple cash-centric design reduce pay inflation risk but may under-reward sustained value creation; company TSR and net income deteriorated in FY 2024, so monitoring future bonus target rigor and subsidiary-level EBITDA goal setting is prudent .