Yijun ("Jenny") Wang
MOSAICAbout Yijun ("Jenny") Wang
Executive Vice President – Commercial at The Mosaic Company since January 1, 2024, responsible for global commercial strategy, performance product sales and international distribution . Her 2024 short‑term incentive paid at 54.0% of target, with individual strategic goals assessed at 92.5%, reflecting execution against customer-centric growth, performance products and the Global Digital Acceleration program . Mosaic’s operating backdrop during her tenure: 2024 Net Sales $11,122.8mm vs. $13,696.1mm in 2023, Operating Earnings $621.5mm vs. $1,338.1mm; Diluted EPS $0.55 vs. $3.50 . She complies with Mosaic’s executive stock ownership guidelines (≥3x salary) since February 2022 and beneficially owns 53,195 shares (<1% of outstanding), with anti‑hedging/anti‑pledging prohibitions in place .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| The Mosaic Company | Vice President – Global Strategic Marketing | Appointed Oct 15, 2020 | Led marketing across new product introduction, product management, pricing strategy, product placement, branding and promotions . |
| The Mosaic Company | Vice President – Global Product Management & International Distribution | Prior to Oct 15, 2020 | Oversaw global product portfolio and international channel strategy; transitioned into VP – Global Strategic Marketing . |
External Roles
No external public company directorships disclosed for Ms. Wang in the 2025 proxy .
Fixed Compensation
| Metric | 2024 |
|---|---|
| Base Salary ($) | $600,000 |
| Target Bonus (% of Salary) | 75% |
| Target Bonus ($) | $450,000 |
| Actual Bonus Paid ($) | $242,841 (54.0% of target) |
| All Other Compensation ($) | $182,723 |
Performance Compensation
Short‑Term Incentive Design and 2024 Outcomes
| Metric | Weight | Target | 2024 Actual/Payout Basis | Payout contribution |
|---|---|---|---|---|
| Incentive Adjusted Operating Earnings (mm) | 25% | $1,805 | Actual $1,262; factor 30.0% | 7.2% of target |
| Incentive Free Cash Flow (mm) | 20% | $775 | Actual $445; below threshold | 0.0% |
| Cost Control (composite) | 10% | See table elements | Composite 30.4% factor | 3.0% |
| Performance Product Sales | 10% | MES 47.0%, Aspire 5.0% | MES 48.0% (152% factor); Aspire 4.5% (24% factor) | 13.9% total |
| ESG Scorecard (Sustainability + MMS) | 15% | Sustainability: 3 goals; MMS: 83 | 4 goals, MMS 91; 175% factor | 26.3% |
| Strategic Goals (individual) | 20% | Achieved | Jenny Wang goals achieved (92.5%) | Included in total payout |
Final corporate adjusted total (after safety discretion): 55.5%; Ms. Wang total payout: 54.0% .
Jenny Wang 2024 strategic goals:
- Enhance customer experiences; grow South America value; increase fertilizer and performance product sales .
- Drive growth in Mosaic Biosciences and International Distribution; optimize investment; geographic expansion .
- Achieve a 9% increase in global performance products sales; launch and maximize GDA .
Long‑Term Incentives (granted in 2024)
| Award Type | Grant Date | Units (#) | Grant‑date Fair Value ($) | Vesting Date | Key Terms |
|---|---|---|---|---|---|
| RSUs (annual LTI) | 3/5/2024 | 20,487 | $640,014 | 3/5/2027 | 3‑year cliff; prorated vesting on termination without cause after 12 months . |
| TSR Performance Units (stock‑settled) | 3/5/2024 | 7,735 (target) | $480,003 | 3/5/2027 | Absolute TSR; target at +10% TSR; 0–200% payout; 1‑year post‑vest holding; positive adjusted net earnings threshold . |
| TSR Performance Units (cash‑settled) | 3/5/2024 | 7,735 (target) | $480,003 | 3/5/2027 | Absolute TSR; same hurdles as stock‑settled; cash settlement . |
| RSUs (promotion award) | 1/1/2024 | 8,224 | $300,012 | 1/1/2027 | 3‑year cliff (promotion to EVP – Commercial) . |
TSR payout schedule (assuming positive adjusted net earnings): Threshold −40% TSR = 50%; Target +10% TSR = 100%; Max +100% TSR = 200% .
Equity Ownership & Alignment
Ownership Summary
| Item | Detail |
|---|---|
| Beneficial Ownership (shares) | 53,195 |
| Ownership % of Outstanding | <1% |
| Executive Ownership Guideline | 3x base salary; hold 100% of vested shares until achieved |
| Compliance Status | Met guideline in Feb 2022; remains in compliance |
| Hedging/Pledging | Prohibited by policy (no hedging or pledging of MOS stock) |
| Deferred Compensation Balance (12/31/2024) | $2,377,460; 2024 executive contributions $145,140; registrant contributions $80,206 |
Outstanding Equity Awards (12/31/2024)
| Instrument | Unvested Units (#) | Vesting Date | Reference value basis |
|---|---|---|---|
| RSUs (grant 3/3/2022) | 5,390 | 3/3/2025 | $132,486 (units×$24.58) |
| RSUs (grant 3/9/2023) | 7,613 | 3/9/2026 | $187,128 |
| RSUs (grant 3/5/2024) | 20,487 | 3/5/2027 | $503,570 |
| RSUs (promotion grant 1/1/2024) | 8,224 | 1/1/2027 | $202,146 |
| TSR Units (stock‑settled, 2023 cycle) | 6,078 (target) | 3/9/2026 (with 1‑yr hold) | $149,397 (assumes target) |
| TSR Units (cash‑settled, 2023 cycle) | 6,078 (target) | 3/9/2026 | $149,397 (assumes target) |
| TSR Units (stock‑settled, 2024 cycle) | 15,469 (target) | 3/5/2027 (with 1‑yr hold) | $380,228 (assumes target) |
| TSR Units (cash‑settled, 2024 cycle) | 15,469 (target) | 3/5/2027 | $380,228 (assumes target) |
Stock awards vested in 2024: 22,523 shares; value realized $704,745 .
Employment Terms
Severance & Change‑in‑Control (CIC) Structure
| Provision | Without Cause / Good Reason | CIC (Double Trigger) |
|---|---|---|
| Cash severance multiple | 1.5x base salary + 1.5x target bonus%×salary | 2.0x base salary + 2.0x target bonus%×salary (CEO 3.0x) |
| Pro‑rata current‑year bonus | Yes | Yes |
| Benefits continuation | 12 months medical premium portion; life/disability options | 18 months medical; 18 months exec life/disability premiums |
| Outplacement | $25,000 cash in lieu | $25,000; plus financial planning and executive physical if unused ($22,000 for NEOs) |
| Equity vesting | Double‑trigger for LTI on CIC; retirement/death/disability provisions | |
| Non‑compete / Non‑solicit | 18 months post‑termination; 24 months following CIC | |
| Clawback | SEC/NYSE‑compliant Incentive Compensation Recovery Policy (effective Oct 2, 2023) | |
| Tax gross‑ups | None provided under CIC agreements |
Quantified Benefits for Jenny Wang (as of 12/31/2024)
| Component | Without Cause / Good Reason ($) | CIC ($) |
|---|---|---|
| Cash Severance | 1,575,000 | 2,100,000 |
| RSUs (accelerated) | — | 1,214,080 |
| TSR Units (accelerated) | — | 706,081 |
| Health/Dental/Life/Disability Reimbursement | 39,428 | 59,142 |
| Outplacement | 25,000 | 25,000 |
| Financial Planning & Executive Physical | — | 22,000 |
| Reduction to Avoid Excise Tax | — | (688,060) |
| Total | 1,639,428 | 3,438,243 |
Agreement term runs through March 31, 2026 (auto‑extended to at least 2nd anniversary post‑CIC) .
Investment Implications
- Pay‑for‑performance alignment is robust: 60%+ of target total direct compensation in LTI; 2024 short‑term plan weighted 65% to financials and 15% ESG, with negative discretion applied for safety fatalities—indicating governance emphasis on EHS outcomes .
- Equity alignment and retention: Wang met ownership guidelines in 2022 and is subject to 100% post‑vest hold until compliance; anti‑hedging/pledging reduces misalignment risk; upcoming RSU/TSR vesting clusters in March 2026/2027 and January 2027 could create measured selling pressure, mitigated by post‑vest holding on stock‑settled TSR awards .
- CIC economics are double‑trigger with no tax gross‑ups; severance at 2x salary+bonus under CIC is moderate vs. peers and reduces abrupt departure risk while preserving shareholder protections via clawback .
- Execution indicators: Her strategic goals (92.5% attainment) targeted customer experience, performance products growth (+9% goal) and GDA rollout—key levers for commercial value creation amid a cyclical downturn in Net Sales and Operating Earnings in 2024 vs. 2023, suggesting focus on mix and margin despite macro headwinds .
- Broader governance backdrop: Say‑on‑pay support of ~93% in 2024 and an independent Compensation Committee with external consultant support imply stability in compensation oversight and reduced policy volatility risk .