David J. Mansfield

President, CEO, and Director at Perma-Pipe International Holdings

Board

Since November 8, 2016

Age

64 years

Tenure

Joined Perma-Pipe International Holdings, Inc. on November 8, 2016, as President and Chief Executive Officer and was appointed Director on January 30, 2017.

Also at Perma-Pipe International Holdings

MEL

Matthew E. Lewicki

Vice President and CFO

About

David J. Mansfield is 64 years old as of April 2024 and is a Fellow of the Association of Chartered Certified Accountants. His background in accounting and finance is reflected in his extensive leadership roles, though details regarding his formal education are not provided.

His professional career spans several decades, beginning with a long tenure at Bredero Shaw from 1992 to 2009, where he held key roles including Vice President Strategic Planning, Vice President Controller, and Commercial General Manager for Europe, Africa, and the Former Soviet Union. He then advanced his career as CFO and Acting CEO at Pipestream, Inc. from 2009 to 2014, and later as CFO at Compressor Engineering Corp. & CECO Pipeline Services Co. from 2015 to 2016, where he was instrumental in developing turnaround plans and executing corporate refinancing initiatives.

At Perma-Pipe International Holdings, Inc., he joined on 11-08-2016 as President and Chief Executive Officer and was later appointed to the Board as Director on 01-30-2017. His leadership has been pivotal in guiding the company's strategic initiatives and operational improvements, and his extensive experience in general management, business development, and mergers and acquisitions has strengthened the company's position in the oil and gas pipeline industry.

$PPIH Performance Under David J. Mansfield

Past Roles

Organization	Role	Date Range	Details
Compressor Engineering Corp. & CECO Pipeline Services Co.	Chief Financial Officer (CFO)	2015-2016	Responsible for group financial affairs, developing and executing turnaround plans, and negotiating a corporate refinancing
Pipestream, Inc.	CFO and Acting CEO	2009-2014	Directed financial, accounting, and administrative affairs; established corporate strategies; and led technical development and commercialization of products
Bredero Shaw	Various Roles (VP Strategic Planning, Controller, Commercial General Manager for Europe, Africa, and the Former Soviet Union)	1992-2009	Key contributor in strategy development and M&A activities; supported growth from $100M to over $900M in annual revenue

Fixed Compensation

Data from FY 2023

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$467,862	Annual	Annual base salary for 2023.
Severance Payment	$467,862	Upon Termination	One year’s base salary if terminated without cause or for good reason.
401(k) Contribution	$11,598	Annual	Company 401(k) contribution for 2023.

Performance Compensation

Data from FY 2023

Annual Cash Bonus (Short-Term Incentive)

Metric	Threshold	Target	Maximum	Performance Achieved	Evaluation Period
Adjusted EBT Payout	$234,000 (50% of base)	$468,000 (100% of base)	$936,000 (200% of base)	79.4% of target	2023

Grant Date: June 22, 2023.
Notes: No vesting schedule is applicable as it is paid in cash based on performance.

Long-Term Incentive Award

Performance-Based Cash Component

Metric	Threshold	Target	Maximum	Vesting Schedule	Evaluation Period
Performance-Based Cash Payout	$280,800 (80% of target)	$351,000 (100% of target)	$526,500 (150% of target)	Paid out in three equal installments over three years	2023–2025

Restricted Stock Award

Metric	Details
Shares Awarded	34,242 shares
Grant Date Fair Value	$350,981
Vesting Schedule	Restricted stock vests ratably over three years
Grant Date	June 22, 2023

Additional Notes:
- The long-term incentive award is comprised of 50% performance-based cash and 50% restricted stock awards.
- Performance metrics for the cash component are tied to multi-year return on equity targets.