David J. Mansfield
Also at Perma-Pipe International Holdings Inc
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
| 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
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.