Daniel Hoehn
About Daniel Hoehn
Daniel W. Hoehn served as Myers Industries’ Interim Chief Financial Officer effective September 18, 2020; he had been Vice President, Corporate Controller since August 13, 2019 and was 42 years old at appointment . Prior to Myers, Hoehn was Vice President, Controller, and Chief Accounting Officer at Babcock & Wilcox Enterprises for four years and held finance leadership roles at Chiquita Brands International, including Vice President, Controller . In 2020, his annual bonus was 100% tied to operating income growth; the company achieved 10.9% adjusted operating income growth versus a 20% target, yielding a 61.2% payout and an earned bonus of $62,118 . His 2020 long-term incentive awards consisted of PSUs tied 50% to 3‑year weighted average EBITDA and 50% to 3‑year average annual ROIC (vesting at the third anniversary) and RSUs vesting ratably over three years; Myers has subsequently incorporated a relative TSR modifier on PSUs and emphasizes Adjusted EBITDA in pay-versus-performance linkage .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Myers Industries | Interim Chief Financial Officer; Vice President, Corporate Controller | Interim CFO from Sep 18, 2020; Controller since Aug 13, 2019 | Led finance during CFO transition; maintained corporate controllership continuity |
| Babcock & Wilcox Enterprises | Vice President, Controller, and Chief Accounting Officer | 4 years (prior to joining Myers) | Senior controllership and public-company accounting leadership |
| Chiquita Brands International | Finance leadership roles incl. Vice President, Controller | Prior to 2015 | Multi-business finance leadership and controllership experience |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| — | — | — | No public company board roles disclosed for Hoehn in available filings; background companies and positions are as listed above |
Fixed Compensation
| Item | 2020 Value | Notes |
|---|---|---|
| Base Salary | $253,750 | As Corporate Controller; separate supplemental pay for Interim CFO duties |
| Supplemental Monthly Payment (Interim CFO) | $5,000/month (commencing Sep 18, 2020) | Paid during Interim CFO service; not included in base for incentive calculations |
| Target Bonus (% of Base) | 40% | Hoehn’s bonus opportunity was entirely objective metric (no qualitative portion) |
| Maximum Payout Cap | 120% of target | Specific to Hoehn as Controller |
| Actual Bonus Paid | $62,118 | Based on 61.2% payout of target |
| 401(k) Company Match | Up to 4% of compensation (100% of first 3% + 50% of next 2%) | Broad-based plan applicable to NEOs |
| Nonqualified Deferred Compensation – Executive Contributions | $13,889 | 2020 contributions |
| Nonqualified Deferred Compensation – Company Contributions | $566 | 2020 company credits |
| Nonqualified Deferred Compensation – Aggregate Earnings | $1,873 | 2020 plan earnings |
| Nonqualified Deferred Compensation – Year-end Balance | $15,763 | As of fiscal year end 2020 |
Performance Compensation
| Component | Metric | Weighting | Target | Actual | Payout | Vesting / Settlement |
|---|---|---|---|---|---|---|
| Annual Cash Bonus (2020) | Operating Income % Growth | 100% for Hoehn | 20% (Operating Income $50.5M) | 10.9% (Operating Income $46.6M) | 61.2% of target | Cash bonus paid Q1 following year |
| PSUs (granted 04/28/2020) | 50% 3‑yr weighted avg EBITDA; 50% 3‑yr avg annual ROIC | n/a | 5,333 target units | n/a | Payout based on performance ranges per plan | Cliff vest at 3rd anniversary of grant |
| RSUs (granted 04/28/2020) | Service-based | n/a | 3,555 RSUs | n/a | n/a | Vest ratably in 3 annual installments each March 6 following grant |
| LTIP Framework (context) | Relative TSR modifier (later awards) | n/a | n/a | n/a | n/a | Applied to PSU settlement in subsequent program designs |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership | 1,012 shares as of March 11, 2021; includes 250 shares via Employee Stock Purchase Plan |
| Ownership % of Outstanding | Less than 1% (36,072,596 shares outstanding) |
| Vested vs Unvested Breakdown | Not individually enumerated in ownership table; 2020 RSU/PSU grant schedules disclosed above |
| Options (Exercisable/Unexercisable) | None exercised; no option grants disclosed for Hoehn in 2020 |
| Hedging/Pledging | Prohibited under company policy (the company does not allow hedging or pledging by directors/officers/employees) |
| Stock Ownership Guidelines | Vice Presidents: 1x annual base salary; 5 years to attain; counts unvested time-based RSUs, vested options, and shares owned outright |
| Clawback Policy | Company maintains clawback policy for executives |
Employment Terms
| Term | Detail |
|---|---|
| Employment Start Date (Myers) | Vice President, Corporate Controller since August 13, 2019; Interim CFO effective September 18, 2020 |
| Employment Contracts | Company does not have written employment agreements with NEOs |
| Severance Plan Eligibility (2020) | Hoehn was not eligible to participate in the Company’s Severance Plan |
| Change-of-Control Provisions | Company uses double-trigger vesting for equity awards and double-trigger severance for participating NEOs; Hoehn not a participant in 2020 |
| Clawback | Clawback policy maintained |
| Non-compete/Non-solicit | Not specifically disclosed for Hoehn in available filings (company-wide provisions not detailed in proxy excerpts) |
2020 Potential Termination Payments (Scenario Analysis)
| Scenario | Cash Severance | Bonus Severance | Other Benefits | Equity Acceleration | Total |
|---|---|---|---|---|---|
| Termination for Cause or Voluntary Resignation | — | — | — | — | — |
| Termination without Cause or for Good Reason | — | — | — | $112,253 | $112,253 |
| Retirement | — | — | — | — | — |
| Death | — | — | $250,000 | $114,412 | $364,412 |
| Disability | — | — | — | $114,412 | $114,412 |
| Termination without Cause or Resignation for Good Reason in connection with a Change of Control | — | — | — | $114,412 | $114,412 |
Compensation Committee and Governance Context
- Independent compensation advisor: Semler Brossy has served since 2017; no conflicts; reports directly to CMD Committee Chair .
- Program design: No employment contracts, double-trigger change-in-control vesting, robust stock ownership guidelines, clawback policy, and prohibitions on hedging/pledging and option repricing .
Investment Implications
- Alignment and rigor: Hoehn’s cash incentive was fully tied to operating income growth, and his LTI awards were anchored to multi‑year EBITDA and ROIC, later incorporating a relative TSR modifier—signals a strong pay‑for‑performance framework that ties rewards to value creation drivers relevant to Myers’ business .
- Retention and severance economics: Hoehn was not covered by the severance plan in 2020, implying limited guaranteed protections; equity acceleration under adverse scenarios existed but was modest, reducing “forced seller” risk from severance-driven share settlements .
- Ownership and selling pressure: Beneficial ownership was small relative to shares outstanding, with RSU vesting dates scheduled annually post‑grant; hedging/pledging is prohibited, which supports alignment and reduces collateral-driven selling risk .
- Governance quality: Use of an independent advisor, clawback, and double‑trigger mechanics are shareholder‑friendly; high say‑on‑pay approval (99% in 2024) indicates broad investor support for program structure, though not specific to Hoehn .