Tara Wescott
Senior Vice President, Chief Human Resources Officer at MGRC
Executive
About Tara Wescott
Senior Vice President and Chief Human Resources Officer at McGrath RentCorp (appointed January 2025); age 51; B.S. in Business Administration (Marketing) from California State University, East Bay . Joined MGRC in 2020 as Vice President, Human Resources after 20 years at Macy’s, leading HR for Macys.com and Macy’s Technology . Company performance context: MGRC delivered 10% growth in both revenue and Adjusted EBITDA in 2024, with corporate Adjusted EBITDA of $351.7M versus a $349.7M target (105.9% payout under the cash bonus framework) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| McGrath RentCorp | SVP, Chief Human Resources Officer | 2025–Present | Leads strategic HR programs for a multi-division rental platform |
| McGrath RentCorp | Vice President, Human Resources | 2020–2024 | Built HR capabilities across diverse business units |
| Macy’s Inc. | Senior HR leadership (including HR lead for Macys.com and Macy’s Technology) | 2000–2020 | Led HR for digital and technology organizations at scale |
Fixed Compensation
- MGRC’s executive pay mix comprises base salary, annual cash bonus, and long-term equity; base salary levels are set to be market-competitive and reflect role scope and performance .
- Wescott’s specific base salary and cash bonus targets are not disclosed in the 2025 proxy (NEO disclosures cover CEO, CFO, COO, CLO, CSO) .
Performance Compensation
Program design applicable to executive officers:
- Annual Cash Bonus split: 75% profitability (Adjusted EBITDA for corporate execs), 25% Personal Annual Priorities; profitability payouts: 50% at 90% of target, 100% at target, max 200% at 110% of target; individual priorities capped at 100% .
- Long-term equity: historically 50% PSUs (3-year cliff, metrics: ROIC and revenue, equally weighted) + 50% RSUs (33/33/34 over 3 years); in 2024, awards were 100% time-based RSUs due to pending merger; reverted to 50/50 in 2025 .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Corporate Adjusted EBITDA (2024) | 75% of bonus | $349,676,000 | $351,725,000 | 105.90% | Annual cash bonus plan (paid in 2025) |
| Personal Annual Priorities (executives) | 25% of bonus | Role-specific (≤4) | Assessed by CEO/Comp Committee | Up to 100% | Annual cash bonus plan |
| PSUs (2025 and prior practice) | 50% of LTI | 3-year ROIC; revenue | Measured over cycle | 50%–200% of target shares | Cliff vest after 3 years |
| RSUs | 50% of LTI (2025); 100% of LTI (2024) | Time-based | Service-based | N/A | 33%/33%/34% over 3 years |
Note: Wescott’s specific targets/payouts are not individually disclosed; the table reflects company program parameters .
Equity Ownership & Alignment
| Item | Details |
|---|---|
| Beneficial ownership (individual) | Not individually disclosed for Wescott in the 2025 proxy; aggregate executives/directors: 351,415 shares (1.4% of outstanding) |
| Stock ownership guidelines (officers) | CEO: 5x salary; other executive officers: 2x salary; 5 years to comply; must hold 50% of net after-tax vested shares until meeting guideline (calc based on vested RSUs/PSUs) |
| Hedging/Pledging | Prohibited for employees, officers, and directors (short sales, options, margin, pledging, derivatives) |
| Equity grant cadence | Annual grant date post year-end earnings blackout; RSU grant price equals NASDAQ close; exec grants approved by the Compensation Committee |
| Acceleration provisions | If equity not assumed in a change in control, full acceleration; if CoC before performance determination, PSUs vest at target on a pro-rated basis (e.g., 2023 PSUs) |
Employment Terms
| Provision | Pre-2025 Severance Plan (executive officers) | 2025 Amended Severance Plan (summary applies to NEOs) |
|---|---|---|
| Involuntary termination (no CoC) | CEO/CFO: up to 12 months salary; other exec officers: up to 6 months salary; COBRA up to 12 months; outplacement; bonus pro-rated at target for year of termination | NEOs: lump sum = 12–18 months salary plus 100%–150% of target bonus; COBRA 12–18 months; prorated vesting of RSUs/PSUs at target; outplacement |
| Termination within 12–24 months of CoC | Other exec officers: 6 months salary; COBRA up to 12 months; full acceleration and vesting of equity awards; outplacement | NEOs: 18–24 months salary plus 150%–200% of target bonus; COBRA 12–24 months; 100% vesting of RSUs/PSUs at target; outplacement |
| Clawback | Amended and Restated Compensation Recoupment Policy (Rule 10D-1), recover excess incentive comp over past 3 years upon restatement |
Note: The Amended Severance Plan summary in the proxy specifically enumerates NEO terms; non-NEO officer terms under the amended plan are not detailed. Wescott, as an executive officer, was covered under the prior Severance Plan framework in 2024; her individual amended-plan terms are not disclosed .
Investment Implications
- Alignment and selling pressure: Strict prohibition on hedging/pledging, plus a 50% post-vest holding requirement until ownership goals are met, reduces near-term insider selling pressure and improves alignment for officers, including the CHRO role .
- Retention and change-in-control: Executive officers historically received severance protection (salary, COBRA, outplacement) and equity acceleration upon qualifying CoC terminations; NEOs’ protections were enhanced in 2025, indicating board focus on leadership stability, though individual CHRO terms under the amended plan are not disclosed .
- Pay-for-performance linkage: Annual incentives are primarily driven by Adjusted EBITDA with capped payouts and structured personal priorities; LTI reversion to PSUs in 2025 ties half of equity to ROIC and revenue over three years, reinforcing multi-year alignment for senior leaders (including HR) .
- Data gaps: Lack of individual disclosure for Wescott’s base salary, bonus targets, grants, and ownership limits precision in pay-for-performance and skin-in-the-game analysis; monitor future proxies and Forms 4 for transaction-level signals and guideline compliance .