Amy Allbach Samford
About Amy Allbach Samford
Amy Allbach Samford, age 50, is Executive Vice President and Chief Financial Officer of NL Industries, Inc. (since 2019; EVP since 2022). She previously served as Senior Vice President (2021–2022), Vice President (2016–2021), and Controller (2016–2019), and has held accounting and financial roles across NL-related companies since 2006 . NL’s executive compensation is not linked to company performance and is provided under an intercorporate services agreement (ISA) with Contran; the most recent Say‑on‑Pay received 87.9% approval (2024), while NL’s TSR (value of $100 since 12/31/2019) and net income trends are shown below .
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| TSR – NL (Value of Initial $100) | 128 | 205 | 204 | 177 | 271 |
| Net Income (US$ thousands) | 16,103 | 53,360 | 36,456 | 582 | 69,261 |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| NL Industries | EVP & CFO | 2019–present (EVP since 2022) | Principal financial officer; group finance oversight |
| NL Industries | Senior Vice President | 2021–2022 | Senior finance leadership |
| NL Industries | Vice President | 2016–2021 | Finance leadership and execution |
| NL Industries | Controller | 2016–2019 | Financial reporting and controls |
| NL/Valhi/Kronos/CompX/Contran | Accounting & financial roles | Since 2006 | Cross‑company finance continuity |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Valhi, Inc. | EVP & CFO | Current | Parent-level financial stewardship |
| CompX International | EVP & CFO | Current | Segment finance oversight |
| Contran Corporation | EVP & CFO | Current | Group finance governance |
| Kronos Worldwide | Executive Vice President | Current | Executive leadership across affiliates |
Fixed Compensation
NL compensates executive officers via ISA charges paid to Contran; amounts reflect allocated cost based on estimated time devoted and Contran’s employment cost components (salary, benefits, taxes). The ISA fee is not dependent on NL’s financial performance .
| Component (US$) | 2022 | 2023 | 2024 |
|---|---|---|---|
| ISA Fees – NL | $225,000 | $514,000 | $534,000 |
| ISA Fees – Kronos Worldwide | $180,000 | $220,000 | $229,000 |
| ISA Fees – CompX | $292,000 | $441,000 | $468,000 |
| Total “Salary” (ISA charges) | $697,000 | $1,175,000 | $1,231,000 |
Additional notes:
- No grants of plan‑based awards in 2024 .
- No outstanding equity awards at 12/31/2024; no option exercises or stock vesting in 2024 .
- No pension benefits; no nonqualified deferred compensation owed .
Performance Compensation
NL did not use specific financial performance measures to link executive compensation to company performance; executives received no equity‑based compensation in 2024 .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not applicable – ISA cost allocation; no equity awards | N/A | N/A | N/A | N/A | N/A |
Equity Ownership & Alignment
| Security | Shares Beneficially Owned | % of Class | Notes |
|---|---|---|---|
| NL Industries Common | 2,000 | <1% | Disclaims beneficial ownership beyond pecuniary interest |
| Kronos Worldwide Common | 2,000 | <1% | Disclaims beneficial ownership beyond pecuniary interest |
| Valhi Common | 1,000 | <1% | Disclaims beneficial ownership beyond pecuniary interest |
| CompX Class A Common | 1,000 | <1% | Disclaims beneficial ownership beyond pecuniary interest |
Alignment policies:
- No management security ownership requirements or guidelines; director ownership guidelines apply only to non‑employee directors .
- NL has not adopted hedging policies or practices for employees/officers/directors; hedging transactions remain subject to NL’s insider trading policy .
- No equity awards outstanding; therefore no vesting schedule or unvested company equity .
Employment Terms
| Term | Details |
|---|---|
| Status | Executive officers serve at the pleasure of the Board . |
| Delivery of Services | Provided via intercorporate services agreement (ISA) with Contran; costs allocated by estimated time and Contran’s employment cost components . |
| Renewal/Termination | ISAs generally renew quarterly; terminable by either party with 30 days written notice before the next quarter . |
| Pay-for-Performance Linkage | ISA charge is not dependent on NL’s financial performance . |
| Severance | Not disclosed in NL’s proxy –. |
| Change‑of‑Control | Not disclosed in NL’s proxy –. |
| Clawback Provisions | Not disclosed in NL’s proxy –. |
| Non‑Compete/Non‑Solicit | Not disclosed in NL’s proxy –. |
| Insider Trading/Hedging | Insider trading policy filed with the 2024 Form 10‑K; no hedging policy adopted for employees/officers/directors . |
Performance & Track Record
| Indicator | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Say‑on‑Pay Approval (latest disclosed) | — | — | — | 87.9% (2024 meeting) | — |
| TSR – NL (Value of Initial $100) | 128 | 205 | 204 | 177 | 271 |
| Net Income (US$ thousands) | 16,103 | 53,360 | 36,456 | 582 | 69,261 |
Contextual governance and related‑party oversight:
- CFO provided recommendations supporting NL’s participation in the combined risk management program (audit committee approvals) .
- CFO and VP Tax recommended NL’s tax sharing agreement with Contran/Valhi as fair and reasonable; audit committee ratified .
Investment Implications
- Compensation alignment: Executive pay is a cost allocation under the Contran ISA with no linkage to NL performance; no equity incentives or ownership requirements for management, and minimal direct shareholdings—weak pay‑for‑performance alignment and muted equity ownership incentives .
- Selling/hedging pressure: With small direct holdings and no outstanding awards, near‑term insider selling pressure appears limited; however, NL has not adopted a hedging policy for employees/officers/directors, which is a governance red flag for alignment risk .
- Retention/contract risk: Executives serve at Board pleasure and services are delivered via quarterly‑renewable ISAs with 30‑day termination notice, implying structural flexibility but potential retention/continuity risk if ISA terms change .
- Performance backdrop: TSR and net income improved markedly in 2024 versus 2023, but executive compensation is structurally decoupled from these outcomes, limiting incentive alignment for value creation .