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    Joseph F. Hanna

    President, Chief Executive Officer, and a Director at McGrath RentCorp
    Board
    Since February 2017
    Age
    61 years
    Education
    Earned a B.S. in Electrical Engineering from the United States Military Academy, West Point, New York.
    Tenure
    Joined MGRC in 2003 as Vice President of Operations and was appointed as President, Chief Executive Officer, and a Director in February 2017, having previously held roles as Senior Vice President of Operations and Chief Operating Officer.

    Also at McGrath RentCorp

    DMW
    David M. Whitney
    Senior Vice President, Chief Accounting Officer
    GM
    Gilda Malek
    Senior Vice President, Chief Legal Officer
    KEP
    Keith E. Pratt
    Executive Vice President, Chief Financial Officer, and Assistant Corporate Secretary

    About

    Joseph F. Hanna has demonstrated a strong commitment to excellence throughout his extensive career at MGRC. He began his journey with the company in 2003 as Vice President of Operations and earned rapid promotions, including serving as Senior Vice President of Operations and Chief Operating Officer before being appointed as President, Chief Executive Officer, and a Director in February 2017.

    With over two decades of progressive leadership experience, he has played a crucial role in the strategic product and geographic expansion of the company's rental businesses. His deep institutional knowledge and operational expertise have been instrumental in driving growth and innovation at MGRC.

    Before his tenure at MGRC, he gained valuable experience in sales and operational leadership at SMC Corporation of America and served as an officer in the United States Army. Additionally, he earned a B.S. in Electrical Engineering from the United States Military Academy, anchoring his strong technical and leadership foundation.

    $MGRC Performance Under Joseph F. Hanna

    Past Roles

    OrganizationRoleDate RangeDetails
    MGRC Chief Operating Officer 2007 - 2017 Previously held before subsequent promotions
    MGRC Senior Vice President of Operations 2005 - 2007 Held prior to CO roles
    MGRC Vice President of Operations Starting 2003 Initial role upon joining MGRC
    SMC Corporation of America Sales & Operational Leadership Positions Before 2003Held various leadership positions before joining MGRC
    United States Army Officer Before 2003Served as an officer

    External Roles

    OrganizationRoleDate RangeDetails
    Janus International Group (NYSE: JBI) Board of Directors Since January 2024 Leading global provider of self-storage, commercial industrial doors, relocatable storage units, facility automation solutions, and door replacement/restoration services

    Fixed Compensation

    Data from  FY 2023
    Component NameAmountPayment ScheduleAdditional Details
    Salary$800,000 AnnuallyBase salary for 2023
    RSUs$999,853 33% vest on each anniversary of grant dateRestricted Stock Units granted on February 24, 2023; time-based vesting
    All Other Compensation$140,964 As applicableIncludes Employee Stock Ownership and 401(k) cash contribution ($13,200 ) and RSU/PSU dividend payments ($127,764 )

    Performance Compensation

    Data from  FY 2023

    PSUs Performance Compensation

    MetricValueDetails
    Grant DateFebruary 24, 2023 Date of PSU grant
    Grant Date Fair Value$1,700,481 Fair value based on target performance
    Number of Units16,310 PSUs Number of performance-based restricted stock units awarded
    Vesting ScheduleCliff vest at 3 years Vesting occurs after the three-year performance period, subject to continued service
    Performance MetricsROIC & Revenue Targets Equal weighting on corporate Return on Invested Capital and revenue targets
    Payout Structure50% threshold, 100% target, 200% max Threshold achievement triggers 50% payout, target achievement triggers 100% payout, with maximum value of $3,400,961 at 200% payout
    Grant Date Stock Price$104.26 Closing share price on the grant date

    Non-Equity Incentive Plan Compensation

    MetricValueDetails
    Weighting75% Adjusted EBITDA, 25% Personal Annual Priorities Performance is evaluated with a 75% weight on profitability (Adjusted EBITDA) and a 25% weight on individual annual priorities
    Adjusted EBITDA ComponentTarget: $800,000; Achieved: 156.4% resulting in $938,400 Based on Adjusted EBITDA performance, target bonus of $800,000 exceeded to 156.4%, resulting in a payout of $938,400
    Personal Annual Priorities ComponentTarget: $800,000; Achieved: 96.1% resulting in $192,200 Based on individual performance, target bonus of $800,000 achieved at 96.1%, resulting in a payout of $192,200
    Total Non-Equity Payout$1,130,600 (141.3% of target) Combined payout from both components, demonstrating 141.3% achievement relative to the total target
    Performance Thresholds/TargetsThreshold: $500,000; Target: $800,000; Maximum: $1,400,000 Defines the minimum, target, and maximum bonus levels for the incentive plan
    Evaluation Period2023; Grant Date: February 24, 2023 Annual performance evaluation with grant date referenced for bonus calculations