Scott Bemis
LSB INDUSTRIESAbout Scott Bemis
Scott D. Bemis (age 55) is Executive Vice President, Manufacturing at LSB Industries (LXU), appointed effective May 20, 2024. He brings 32+ years in chemical manufacturing, with site leadership and integrated operations roles at Dow Chemical and DuPont Water & Protection, and most recently Albemarle Energy Storage; he holds an MBA (University of Houston–Clear Lake) and a BS in Chemical Engineering (University of Arizona) . Company performance context during his tenure: 2024 Adjusted EBITDA $129.5 million, Net Income (Loss) $(19.4) million, and TSR declined versus 2022–2023 levels per pay-versus-performance disclosures .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Albemarle Energy Storage | Kemerton Site Director | 2023–May 2024 | Led large manufacturing teams; track record of improving safety while increasing production . |
| Albemarle Energy Storage | Richburg MegaFlex Site Director | 2022–2023 | Site leadership focused on reliability, maintenance, EH&S and regulatory functions . |
| DuPont (Spruance site) | Site Director | 2021–2022 | Site-level accountability for operations and safety performance . |
| DuPont Water & Protection | Integrated Operations Leader | 2020–2021 | Led integrated operations across manufacturing and R&D, capital projects, reliability and maintenance . |
| Dow Chemical Company | Leadership roles | Not disclosed | Broad manufacturing leadership experience; large-team management . |
External Roles
No external public-company directorships or committee roles disclosed in LXU’s proxy for Bemis .
Fixed Compensation
- Base salary, target bonus, and actual bonus for Bemis are not individually disclosed (he was not a Named Executive Officer in 2024). Executive program structure is overseen by the Compensation & Talent Management Committee; non-CEO officers have stock ownership guidelines at 3x salary and are subject to insider trading, anti-hedging, and pledging prohibitions .
Performance Compensation
Annual STI Plan (company framework and 2024 outcomes)
| Metric | Weighting | Target Definition | 2024 Actual | 2024 Payout Component | Vesting/Timing |
|---|---|---|---|---|---|
| Environmental, Health & Safety (TRIR, Process Safety Tier I, Reportable Environmental Events) | 25% | Achieve company-wide EH&S targets | 17.0% achievement | 4.2% payout for this portion | Cash, annual |
| Adjusted EBITDA | 50% | Achieve budget | 97.0% achievement | 48.4% payout for this portion | Cash, annual |
| Ammonia (NH3) Production | 25% | Achieve budget | Below threshold | 0% payout for this portion | Cash, annual |
Note: The STI plan uses informed judgment for final multipliers; individual Bemis-specific payouts are not disclosed .
Long-Term Incentives (2016 LTIP grants; 2024 design)
| Award Type | Weighting | Metric | Measurement Period | Payout Range | Vesting |
|---|---|---|---|---|---|
| Time-based RSUs | 50% of LTI value | Time-based retention | 3 years | N/A | 1/3 per year over 3 years |
| Performance-based RSUs (PSUs) | 50% of LTI value | Relative TSR vs fertilizer/chem peers (Advansix, American Vanguard, The Andersons, CF, Chemtrade, Compass, CVR, Ecovyst, ICL, Intrepid Potash, Methanex, Mosaic, Nutrien, OCI, Yara) | 3 years | 50%–200% of target; capped at target if absolute TSR is negative | Cliff vest after performance period |
Equity Ownership & Alignment
- Eligibility and Plan Structure: All executive officers are eligible for awards under LXU’s equity plans; as of April 7, 2025 there were 1,291,417 unvested RSUs and 683,437 unvested PSUs outstanding; there were no appreciation awards or options outstanding under the 2016 LTIP (options are not a driver of near-term selling pressure). 298,681 shares remained available under the 2016 LTIP ahead of the proposed 2025 LTIP .
- Ownership Guidelines: Mandatory management stock ownership guidelines—CEO 5x salary; other executive officers 3x salary .
- Hedging/Pledging: Directors and officers are prohibited from hedging and pledging company stock; no margin accounts or collateral pledges allowed, reducing misalignment and leverage risk .
- Clawbacks/Recoupment: The company’s recoupment policy requires return of erroneously awarded incentive-based compensation upon required restatements, compliant with SEC/NYSE rules .
- Beneficial Ownership: Bemis filed a late initial Form 3 in 2024; individual share counts for Bemis are not disclosed in the proxy’s security ownership tables (he is not listed among NEOs/directors in the ownership table) .
Employment Terms
- Appointment date and role: Appointed EVP, Manufacturing effective May 20, 2024 .
- Change-in-Control: LXU emphasizes double-trigger CIC provisions in employment contracts and LTIP (requires both CIC and qualifying termination); performance awards may be subject to Section 280G limits and excise tax considerations .
- Non-compete/Non-solicit, severance: No Bemis-specific employment agreement, severance multiple, non-compete, or non-solicit terms are disclosed (company-level potential payments tables cover NEOs only) .
Performance & Track Record
- Manufacturing execution context: In 2024, the NH3 production metric was below threshold, producing a 0% STI payout on that component, underscoring production reliability as a key lever for future pay outcomes .
- Demonstrated leadership: Albemarle press release highlights Bemis’s record of improving safety while increasing production—experience directly aligned with LXU’s STI metrics and operating goals .
- Company performance trend: Pay-versus-performance shows TSR rising into 2022 then declining into 2024; 2024 Adjusted EBITDA was $129.5M and Net Income (Loss) was $(19.4)M, indicating profitability compression and execution sensitivity for manufacturing leadership .
Company Performance (context)
| Metric | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|
| Value of $100 Investment – TSR ($) | 424 | 510 | 357 | 291 |
| Net Income (Loss) ($000s) | 43,545 | 230,347 | 27,923 | (19,353) |
| Adjusted EBITDA ($000s) | 191,031 | 414,653 | 132,664 | 129,520 |
Investment Implications
- Pay-for-performance alignment: Bemis’s remit (manufacturing reliability, EH&S) matches STI levers; 2024 NH3 shortfall zeroed that component, making operational uptime a direct driver of his future annual cash outcomes. Expect higher realized incentives if production stabilizes at/beyond budget and EH&S targets improve .
- Equity-linked alignment: A three-year LTI split (50% RSUs, 50% PSUs on relative TSR) plus a clawback regime and anti-hedging/pledging creates strong alignment and multi-year retention through vesting; lack of outstanding options reduces forced-selling dynamics (no near-term expiry pressure) .
- Trading signals: Monitor Forms 3/4 for initial holdings and RSU/PSU grants under the new 2025 LTIP and any subsequent insider sales; note Bemis’s late Form 3 in 2024 (administrative compliance item) .
- Retention risk: Without publicly disclosed individualized severance or employment-agreement terms for Bemis, retention relies on role scope, STI/LTI economics, and ownership guidelines. The double-trigger CIC and three-year vesting cadence support continuity while preserving shareholder alignment .