Danielle Mattiussi
About Danielle Mattiussi
Danielle Mattiussi is Senior Vice President & Chief Retail Officer at Par Pacific, serving since January 2023. She previously led retail operations at Maverik and held marketing, business development, sales, and product management roles at Canon USA and Eastman Kodak. She holds a bachelor’s and master’s degree in accounting from DePaul University and an MBA from the University of Utah; she was age 54 as of March 2025 . Company performance during her tenure shows TSR (value of initial $100) at $156.50 in 2023 and $70.52 in 2024, with net income of $728.6 million in 2023 and a loss of $33.3 million in 2024; Modified Free Cash Flow per share was $9.21 in 2023 and $0.63 in 2024 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Maverik | Vice President of Retail Operations | Not disclosed | Operated large-format fuel and convenience retail footprint |
| Canon USA | Marketing, business development, and technology sales/product management roles | Not disclosed | Commercial and product management experience |
| Eastman Kodak | Marketing, business development, and technology sales/product management roles | Not disclosed | Commercial and product management experience |
External Roles
None disclosed in Par Pacific’s proxy statements for 2024–2025 .
Fixed Compensation
Not disclosed for Danielle (she is not a Named Executive Officer). Par Pacific’s proxies provide detailed compensation only for NEOs; Danielle is listed as an executive officer but not as an NEO in 2023–2024 .
Performance Compensation
Par Pacific’s executive Annual Incentive Plan (AIP) uses both financial and operational metrics. While individual payouts are disclosed for NEOs only, the plan design and achieved results indicate emphasis on Adjusted EBITDA, Modified Free Cash Flow, and group performance metrics that include retail execution.
2024 AIP metrics and actual components:
| Metric | Weighting / Structure | Actual (2024) | Notes |
|---|---|---|---|
| Adjusted EBITDA Component | 25% of AIP; 0–200% of target | 16.4% | Based on actual vs budget |
| Modified Free Cash Flow Component | 25% of AIP; 0–200% of target | 7.5% | Adjusted EBITDA minus cash interest, taxes, maintenance capex, turnaround amortization |
| Group Performance Component | Remaining group weighting; includes Retail 25% for most NEOs | 41.6%–45.4% | Refining/logistics, retail, cost measurement systems, commercial, renewables |
| Individual Performance Component | 0–140% multiplier | Plan-wide design (varies by exec) | Company discloses range; NEO-specific values shown in proxy |
2023 AIP metrics and actual components (context as Danielle’s first year):
| Metric | Weighting / Structure | Actual (2023) | Notes |
|---|---|---|---|
| Adjusted EBITDA Component | 25% of AIP; 0–200% of target | 40.7% | Strong financial results |
| Modified Free Cash Flow Component | 25% of AIP; 0–200% of target | 49.6% | Strong cash generation |
| Group Performance Component | Includes Retail 25% for most NEOs | 45.3% | Includes Billings integration and operational goals |
| Individual Performance Component | 0–140% multiplier | Plan-wide design (varies by exec) | NEO-specific values shown in proxy |
Long-term incentives (design features across executives):
- Restricted stock: ratable vesting over 3 years (introduced in 2023) .
- Performance RSUs: 3-year performance period; payout based on three-year aggregate Adjusted EBITDA vs budget and TSR vs peer group (0–200% payout range) .
- Stock options: supplemental grants (e.g., CEO options) with 5-year cliff vest in 2029; standard options may be granted; not routine for all executives .
Equity Ownership & Alignment
- Beneficial ownership amounts are disclosed for NEOs and directors; Danielle’s individual beneficial ownership is not disclosed in the 2024–2025 proxies .
- Hedging and short-sale restrictions: officers are prohibited from short sales, puts/calls, and hedging/monetization transactions (e.g., collars, swaps), consistent with alignment policies .
- Section 16 reporting: Danielle was late in filing one Form 4 disclosing one transaction in 2024; no other issues disclosed .
Employment Terms
Par Pacific maintains an “at-will” approach for executives unless otherwise specified; NEO employment arrangements are disclosed, while Danielle’s are not individually disclosed .
Company-wide Severance Plan for Senior Officers (applies to participating executives, including NEOs):
| Scenario | Benefit for CEO | Benefit for Other Senior Officers |
|---|---|---|
| Qualifying Termination (without cause or for good reason) | 1 year base salary + average bonus over prior 3 years | 1 year base salary + average bonus over prior 3 years |
| Change in Control + Qualifying Termination (within 24 months) | 24 months base salary + average bonus over prior 3 years + accelerated vesting of unvested equity | 18 months base salary + average bonus over prior 3 years + accelerated vesting of unvested equity |
Clawback and trading policies:
- No-fault clawback policy adopted October 24, 2023: recoup incentive-based compensation after restatements regardless of misconduct .
- Hedging/derivative restrictions as noted above .
Performance & Track Record
Pay-versus-performance context during Danielle’s tenure:
| Metric | 2023 | 2024 |
|---|---|---|
| TSR – Value of initial $100 investment | $156.50 | $70.52 |
| Net Income (USD thousands) | $728,642 | $(33,322) |
| Modified Free Cash Flow per Share (non-GAAP) | $9.21 | $0.63 |
Major initiatives and operating context:
- Continued integration of Billings refinery; CEO transition executed in 2024; retail growth strategies and renewable fuels projects advanced; these were cited as core management goals by the Compensation Committee .
Compensation Structure Analysis
- Strong pay-for-performance orientation with high variable weighting and three-year PSU design tied to Adjusted EBITDA and TSR vs peers; this supports alignment with shareholder outcomes .
- Emphasis on operational group metrics includes retail performance (25% weighting for most NEOs), indicating retail KPIs are embedded in incentive design even if Danielle’s individual targets/payouts are not disclosed .
- No perquisites specific to NEOs beyond broad employee programs; ownership-friendly policies include clawbacks and prohibitions on hedging/short sales .
Investment Implications
- Alignment and incentives: Retail execution is explicitly embedded in annual incentives; long-term PSU metrics (Adjusted EBITDA and TSR vs peer group) align senior leadership pay with value creation, though individual disclosure for Danielle is absent .
- Retention risk: Company-wide Severance Plan provides income protection and accelerated vesting upon change-in-control, reducing retention risk across senior officers; Danielle’s specific participation is not disclosed, but as a Senior VP she likely falls under senior officer frameworks .
- Trading signals: A single late Form 4 for Danielle suggests minor reporting lapse rather than sustained selling pressure; hedging is prohibited, mitigating misaligned risk-taking .
- Performance backdrop: The sharp swing from 2023 strength to 2024 weakness (TSR, net income, FCF) increases execution scrutiny on retail initiatives and cost management; incentive metrics already reflect this via lower 2024 Adjusted EBITDA and Modified FCF components .
Note: Danielle Mattiussi is an executive officer but not a Named Executive Officer; Par Pacific’s proxies do not disclose her individual salary, bonus targets, or equity grants. Analysis above relies on company-wide plan design, NEO disclosures, and governance policies.