John Jamieson
About John Jamieson
John Jamieson is Senior Vice President of Project Management at Park Aerospace (PKE), age 64, having rejoined the company and been elected to this role on July 30, 2024 . Park’s FY2025 performance (the fiscal year ended March 2, 2025) provides context for his current remit: net sales were $62.0 million (+11% y/y), net income was $5.9 million, and Adjusted EBITDA was $11.6 million; cumulative TSR for the SEC “Pay vs Performance” table stood at 125.74 at FY2025 year-end . Education was not disclosed in SEC filings reviewed .
Company performance (context):
| Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Net Sales ($mm) | $54.1 | $56.0 | $62.0 |
| Net Income ($mm) | $10.7 | $7.5 | $5.9 |
| Adjusted EBITDA ($mm) | $11.46 | $10.99 | $11.65 |
| Cumulative TSR (Value of $100) | $140.61 | $113.90 | $125.74 |
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Active Dynamics Group | Chief Operating Officer | 2018–2022 | Automotive/aerospace manufacturing operations leadership |
| Park Aerospace Corp. | Vice President of Supply Chain | 2014–2018 | Led supply chain at Park prior to rejoining in 2024 |
| Active Metals Company | General Manager | 2012–2013 | Metals manufacturing leadership |
| Sanmina Corporation | VP, Global Manufacturing & Engineering | 2003–2012 | Large-scale EMS manufacturing/engineering leadership |
External Roles
No public company board directorships or external governance roles were disclosed for Jamieson in company filings reviewed .
Fixed Compensation
| Fiscal Year | Base Salary | Target Bonus % | Actual Bonus | All Other Compensation |
|---|---|---|---|---|
| 2025 | $110,363 | n/a (discretionary program; no preset targets) | $10,000 | — (not reported for Jamieson) |
Notes:
- PKE uses discretionary annual cash bonuses; no pre-set objective formula or target curves are disclosed for NEOs .
- Perquisites are limited company-wide; automobiles are provided to certain executives with incremental cost generally under $10,000/year; Jamieson’s table did not show perquisite amounts .
Performance Compensation
PKE does not operate a non-equity incentive plan with metric-based payouts; annual bonuses are discretionary, and the company historically grants stock options (no RSUs/PSUs) as its only equity vehicle .
| Instrument | Grant Date | Shares | Strike | Vesting | Term | 2025 Grant/Payout |
|---|---|---|---|---|---|---|
| Stock Options (2018 Plan) | Various | — | — | 25% per year on each anniversary | 10 years | No Jamieson grant reported for FY2025 |
| Non-Equity Incentive | — | — | — | — | — | Company has no non-equity incentive plan |
Equity plan mechanics (applies if/when Jamieson receives options):
- Exercise price = NYSE closing price on the day preceding grant; vest 25% after 1 year, then 25% annually; 10-year expiration .
- Change-in-control: 2002 plan single-trigger full acceleration; 2018 plan allows the committee to accelerate unless awards are assumed/substituted; if assumed, acceleration upon involuntary termination without Cause or resignation for Good Reason within one year post-transaction (double-trigger) .
Equity Ownership & Alignment
| Data point | Amount |
|---|---|
| Beneficial shares owned | 0 shares (less than 1%) as of June 2, 2025 (filed as “John Jameson”) |
| Options – exercisable | — (none reported for Jamieson at FY2025 year-end) |
| Options – unexercisable | — (none reported) |
| Ownership as % of outstanding | ~0% of 19,850,713 shares outstanding (as of June 2, 2025) |
| Shares pledged as collateral | Not disclosed in filings reviewed |
Observations:
- With zero reported ownership and no outstanding options at FY2025 year-end, near-term insider selling pressure from Jamieson appears minimal, and equity alignment depends on future grants and accumulation .
Employment Terms
- Employment status: At-will; no individual employment contract disclosed .
- Severance: No executive severance agreements or change-in-control cash severance; equity treatment governed by the stock option plans (see below) .
- Change-in-control equity: 2002 plan single-trigger acceleration; 2018 plan acceleration at committee discretion unless awards are assumed; if assumed, acceleration on double-trigger during 12 months post-transaction .
- Non-compete / non-solicit / garden leave / post-termination consulting: Not disclosed for Jamieson .
- Retirement/pension/SERP: Company provides no defined benefit pension or non-qualified deferred compensation plans; participates in discretionary profit sharing and 401(k) (no match) .
Compensation Structure Analysis
- PKE’s NEO pay emphasizes modest base salary, discretionary annual bonus, and annual stock option grants (no RSUs/PSUs), with the Compensation Committee explicitly avoiding formulaic, metric-based plans or peer benchmarking; determinations are subjective and consider overall company results and individual contributions .
- In FY2025, Jamieson received salary and a modest discretionary cash bonus, with no equity award shown, meaning his realized pay was predominantly fixed cash for the period .
Compensation Committee Analysis
- Composition/independence: Compensation Committee members are independent directors; Chair: Emily J. Groehl; members: Dale Blanchfield, Carl W. Smith, Steven T. Warshaw; Stock Option Committee also independent; Groehl chairs Compensation; Warshaw chairs Stock Option .
- Process: Committee uses subjective assessments; no predetermined performance targets; informal market information rather than formal benchmarking; CEO makes recommendations for other executives .
Say-on-Pay & Shareholder Feedback
- Management states the most recent Say-on-Pay proposal (July 18, 2024) received a “high level of support,” and policies remained focused on pay-for-performance alignment and shareholder interests .
Additional Context: Company-Wide Equity Plan and Outstanding Awards
- FY2025 grants (not including Jamieson): CEO Shore 30,000 options at $13.26; other NEOs also granted options with the same strike and vesting terms .
- At FY2025 year-end, 718,950 options were outstanding across the company, weighted average exercise price $12.15, with 877,038 shares remaining available for future issuance under the 2018 Plan .
Track Record & Execution Risk (Company Context)
- FY2025 net sales +11% y/y with lower gross margin due to mix and ramp costs; net earnings declined y/y due to storm damage charge and tax on undistributed foreign earnings, partially offset by higher interest income .
- Backlog was $25.8 million as of May 16, 2025 (10-K disclosure) and GE Aerospace subtier suppliers represented ~40% of sales, indicating customer concentration risk .
- Company relies on a discretionary bonus and options model without objective performance scorecards; this can dilute direct pay-for-performance line-of-sight at the individual level .
Investment Implications
- Alignment: Jamieson reported 0 shares and no outstanding options at FY2025 year-end, implying low immediate equity alignment and minimal insider selling overhang from his holdings; future alignment hinges on subsequent option grants or open-market purchases .
- Retention: At-will employment with no severance reduces guaranteed exit economics but the option plan’s standard 4-year vesting can provide retention once awards are granted; Jamieson had no FY2025 grant, so current equity-based retentive hooks appear limited .
- Pay-for-performance: PKE’s discretionary bonus and options-centric design (no PSUs/RSUs, no objective STI plan) places emphasis on qualitative assessment and stock price optionality; lack of explicit, objective metrics can weaken predictability of incentive outcomes for executives .
- Change-in-control risk/reward: No CIC cash severance; equity acceleration treatment under plans is defined (single-trigger for 2002 options; double-trigger if 2018 options assumed), but Jamieson currently has no reported options, limiting immediate CIC optionality for him .
- Governance sentiment: Strong recent Say-on-Pay support provides some cover for the current structure, but investors focused on objective performance linkage may continue to push for clearer metric-based incentives over time .
All data above are sourced from Park Aerospace Corp. 10-K (filed May 30, 2025) and 2025 DEF 14A (filed June 20, 2025). Page/section citations in brackets.