Jedidiah Gold
About Jedidiah Gold
Jedidiah Gold, 45, is Chief Financial Officer (since July 2019) and Corporate Secretary (since February 2025) of Mister Car Wash (MCW). He holds an MBA in Finance and Accounting from Indiana University and a BS in Accounting from the University of Utah . Under his finance leadership, MCW reported 2024 adjusted EBITDA growth of 12% year-over-year and 3.0% comparable store sales growth , and delivered Q1 2025 revenue up 9% and adjusted EBITDA up 14% . Pay-versus-performance disclosures show cumulative TSR of $36 on a $100 base in 2024, with adjusted EBITDAR of $446 million and GAAP net income of $70 million .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| KFC Corporation (Yum! Brands) | CFO, Middle East/North Africa/Pakistan | 2014–2016 | Regional P&L leadership and finance oversight across MENAPak markets |
| Yum! Brands, Inc. | Senior Director Finance; Assistant Treasurer | 2016–2019 | Corporate finance, treasury and capital markets experience prior to joining MCW |
| Mister Car Wash, Inc. | CFO & Treasurer | 2019–present | Built public-company finance capabilities through IPO and scaling subscription model |
External Roles
| Organization | Role | Years |
|---|---|---|
| Mister Cares Foundation | Director | Since April 2020 |
Fixed Compensation
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary ($) | $470,577 | $475,000 | $495,192 |
| Base Salary Rate (as of year-end) | — | — | $500,000 |
| Target Bonus (%) | 50% | 50% | 75% (raised in 2024) |
Perquisites and other fixed benefits (2024):
- Cell phone allowance: $1,200
- Company-paid individual disability insurance: $5,561
- No tax gross-up reported for Mr. Gold in 2024
Performance Compensation
Annual Cash Incentive (2024)
| Metric | Weighting | Target | Actual | Attainment | Payout vs Target | Vesting/Payment |
|---|---|---|---|---|---|---|
| Adjusted EBITDAR to Plan | 100% | $434.7M | $446.416M | 102.69% | 126.94% | Paid as non-equity incentive; Gold received $449,323 |
Key design details:
- Threshold 94% of plan (50% payout); max 110% of plan (200% payout), with linear interpolation .
- Single metric (Adjusted EBITDAR) used to remove timing distortions from sale-leasebacks .
Equity Awards (Grants in 2024)
| Award Type | Grant Date | Shares/Units | Fair Value ($) | Strike | Vesting | Notes |
|---|---|---|---|---|---|---|
| Stock Options | 6/1/2024 | 123,239 | $437,498 | $7.03 | 1/3 each on 6/1/2025, 6/1/2026, 6/1/2027 | 10-year expiration (6/1/2034) |
| RSUs | 6/1/2024 | 62,233 | $437,498 | — | 1/3 each on 6/1/2025, 6/1/2026, 6/1/2027 | — |
Realized equity activity (2024):
- Options exercised: 585,191 shares; value realized $3,487,253
- RSUs vested: 30,202 shares; value realized $226,024
Clawback:
- SEC- and exchange-compliant clawback adopted Dec 1, 2023; recovers excess incentive comp over a 3-year period upon restatement, fault not required .
Equity Ownership & Alignment
| Item | Details |
|---|---|
| Total beneficial ownership | 939,342 shares (includes 883,905 options exercisable within 60 days of 3/31/2025) |
| Ownership as % of shares outstanding | ~0.29% (939,342 / 324,814,438 outstanding as of 3/31/2025; derived) |
| Options – exercisable | 893,497 @ $2.12 (9/9/2019); 112,500 @ $15.00 (6/25/2021); 30,838 @ $9.25 (3/1/2023) |
| Options – unexercisable | 75,000 @ $15.00 (6/25/2021); 92,517 @ $9.25 (3/1/2023); 123,239 @ $7.03 (6/1/2024) |
| RSUs – unvested | 30,000 (6/25/2021); 45,608 (3/1/2023); 62,233 (6/1/2024) |
| Hedging/pledging | Prohibited for officers; anti-hedging, anti-short-sale, and anti-pledging policies in place |
| Stock ownership guidelines | 3x annual base salary for executive officers; 5-year compliance window from IPO or appointment |
| Compliance status | Not specifically disclosed for Mr. Gold |
| Insider filings noted | Late Form 4s filed Mar 7, 2024 for RSU vesting and share withholding for Jed Gold ; Form 4 filed 6/4/2024 available via IR site |
Vesting calendar signal:
- 6/1/2025, 6/1/2026, 6/1/2027 tranches for 2024 RSUs/options .
- 2021 and 2023 awards vest annually per schedules (2021: five annual tranches; 2023: four annual tranches) .
Employment Terms
- Appointment: CFO & Treasurer since July 2019; Corporate Secretary since February 2025 .
- Initial offer letter: Base salary $300,000; target bonus 30%; requested initial options 15,403; executive relocation benefits .
- Severance plan (as amended in 2024) :
- Non-CIC termination (without cause/for good reason): 1.5x Base Salary; 18 months COBRA premium payments; equity vesting per written agreements .
- CIC termination (within protection period): 1.5x (Salary + target bonus) lump sum; prorated bonus; COBRA premiums for 1.5 years; accelerated equity per agreements .
- Restrictive covenants: 18-month non-compete and non-solicit; perpetual confidentiality and non-disparagement .
- Deferred compensation: 2024 executive contributions $99,038; aggregate balance $412,869 .
- Anti-hedging/pledging policies and robust clawback policy as noted above .
Performance & Track Record
| Measure | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Adjusted EBITDAR ($mm) | $344 | $377 | $394 | $446 |
| Net Income ($mm) | ($22) | $113 | $80 | $70 |
| MCW TSR (value of $100) | $90 | $45 | $43 | $36 |
Recent operational commentary:
- Q1 2025: Revenue +9%, adjusted EBITDA +14%; comps +6% (8th consecutive quarter); UWC members >2.2 million; debt paydown ~$62M; net leverage expected ~2.5x by year-end .
- Pricing: Base membership price increase to $22.99 implemented in most markets; brief, modest churn uptick normalizing within ~1 month .
- Competitive dynamics: Fewer competitor newbuilds near MCW stores vs 2023; store comps in intrusion markets tend to rebound within ~2 years .
Board Governance (context)
- Controlled company: Leonard Green & Partners controls >50% voting power; MCW may rely on NASDAQ controlled-company exemptions (though currently compliant) .
- Committee independence and composition disclosed; compensation consultant Exequity engaged; say-on-pay approval 95.2% in 2024, indicating strong shareholder support .
Compensation Peer Group (2024 decisions)
Peer group updated to median size; includes Bright Horizons, Driven Brands, Leslie’s, Planet Fitness, Shake Shack, Valvoline, Grocery Outlet, National Vision, Ollie’s, Dave & Buster’s, Dine Brands, Papa John’s, First Watch .
Say-on-Pay & Shareholder Feedback
- 2024 Say-on-Pay support: 95.2% .
Investment Implications
- Alignment: Gold’s pay is heavily performance-tied—single-metric annual bonus at 126.94% payout on 102.69% Adjusted EBITDAR attainment, and multi-year equity vesting. Clawback, anti-hedging and anti-pledging policies further reinforce alignment .
- Retention risk: Standard severance protections (non-CIC: 1.5x base; CIC: 1.5x salary+target bonus) and clear 18-month non-compete reduce near-term departure risk; multi-year equity scheduled through 2027 supports retention .
- Insider selling pressure: Expect seasonal Form 4 activity around annual vesting dates (June 1 each year for 2024 grants). 2024 disclosures show significant option exercises and RSU vesting for NEOs; Gold had late Form 4s on RSU vesting/withholding (Mar 7, 2024) and a Form 4 filed June 4, 2024—monitoring around vesting dates is prudent .
- Trading signals: Base membership price increases are flowing through with limited churn impact, supporting revenue per member; competitive intrusion moderating; focus on debt reduction improves leverage, potentially supportive for valuation and insider exercise economics over time .
Notes
- Jed signed recent Company 8-K as CFO, evidencing executive oversight of governance transitions .
- Background and education verified via MCW proxy and 2021 S-1 .