Jeffrey A. Emery
About Jeffrey A. Emery
Jeffrey A. Emery, age 50, is President of Global Fire Safety at Perimeter Solutions (PRM), serving since May 2022. He holds a BA in Psychology from Augustana College (IL) and an MBA from the University of Illinois, Urbana-Champaign, with prior leadership roles at Norgren, Scott Safety (10 years), 3M, and Honeywell Aerospace/Specialty Materials . Under his tenure, PRM’s 2024 net sales rose 74% to $561.0 million, Adjusted EBITDA increased 190% to $280.3 million, and the company reported a 2024 TSR value of $106.50 per initial $100 investment; Fire Safety segment Adjusted EBITDA rose to $240.1 million (+215% YoY) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Norgren | VP & GM, Industrial Automation – Americas | Not disclosed | Led industrial automation operations for the Americas |
| Scott Safety | Leadership roles | 10 years | Led high-performance safety equipment for firefighters, military, industrial; post-acquisition integration and growth |
| 3M | Led global business unit (post Scott Safety acquisition) | Not disclosed | Drove significant growth and integration post-acquisition |
| Honeywell | Commercial and general management (Aerospace, Specialty Materials) | Not disclosed | Commercial leadership in aerospace and specialty materials |
External Roles
No current public-company board or external directorships disclosed for Emery .
Fixed Compensation
| Component | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | 329,992 | 341,542 (≈3% YoY increase) |
| Target Bonus (% of Salary) | 50% | 50% |
| Actual Annual Bonus Paid ($) | 151,940 | 228,000 |
| All Other Compensation ($) | 45,123 | 50,998 |
| 401(k) Match ($) | 24,150 | 24,150 |
| Health/Life/Disability ($) | 19,245 total (Health/Life/Disability) | 26,848 total (Health/Life/Disability) |
Performance Compensation
Annual Cash Incentive Structure (2024)
| Metric | Weighting | Threshold | Target | Maximum | Actual | Payout vs Target |
|---|---|---|---|---|---|---|
| Adjusted EBITDA – Fire Safety Platform | 75% | 19% | 38% | 57% | 52% | 52% |
| Individual Performance | 25% | 6% | 13% | 20% | 15% | 15% |
| Resulting Cash Incentive Payout ($) | — | — | $170,771 | $256,157 | — | $228,000 |
Notes:
- Emery’s Adjusted EBITDA component is tied to Fire Safety platform performance; Fire Safety Adjusted EBITDA result was $255.9 million vs $184.1 million target (139% of target), with an upward budget adjustment (+8%) based on 8.2 million U.S. acres burned ex‑Alaska .
Equity Awards and Vesting Mechanics
| Grant Date | Type | Options (#) | Exercise Price ($) | Fair Value at Grant ($) | Vesting Schedule |
|---|---|---|---|---|---|
| 2/14/2024 | Performance-based NQSO | 400,000 | 5.23 | 1,168,000 | AOP-based; Annual/Biennial extension model; cumulative vesting; equity sweep provision |
| 5/6/2022 | 5‑Year Performance-based NQSO | 1,000,000 total eligibility (600,000 exercisable; 400,000 unearned at 12/31/24) | 8.36 | Not disclosed at grant | Vest in 5 equal annual tranches based on AOP; cumulative vesting allowed post-2023 amendments |
Key vesting terms:
- AOP CAGR targets amended in May 2023 from 13.5%/23.5% to 10%/20% for minimum/max vesting; cumulative vesting replaces two‑year look-back/look-forward; equity sweep vests remaining unvested options if stock price exceeds 2× exercise price (less dividends) for 60 days within a 12‑month window starting year 3 .
- 2024 AOP met the 10% growth rate; 3,190,000 NEO options earned company-wide based on 2024 performance (Emery’s individual vesting amount not separately disclosed) .
Equity Ownership & Alignment
| Ownership Detail | Amount |
|---|---|
| Beneficial Ownership (shares) | 600,000 (all underlying options exercisable within 60 days) |
| Ownership % of Shares Outstanding | <1% (asterisk in table) |
| Options – Exercisable | 600,000 (5/6/2022 grant; $8.36 strike; expires 5/6/2032) |
| Options – Unexercisable/Unearned | 400,000 (2/14/2024 grant; $5.23 strike; expires 2/14/2034) |
| Hedging/Pledging | Prohibited; company policy bans pledging, hedging, short sales; all executives compliant |
| Stock Ownership Guidelines | President of Fire Safety: $1.2 million minimum personal investment; at least half must be in PRM shares; option intrinsic value counts for remainder |
| Ownership Guideline Compliance | All directors and executive officers in compliance with policy |
Insider selling pressure:
- No NEO option exercises occurred in 2024, indicating limited realized selling pressure for the year .
Employment Terms
| Term | Detail |
|---|---|
| Employment Agreement Date | April 29, 2022 |
| Role | President of Global Fire Safety (indefinite term) |
| Base Salary | $315,000 initial; $341,542 in 2024 |
| Target Bonus | 50% of base salary |
| Severance – Without Cause/Good Reason/Disability | 1.25× base salary + 1.0× target bonus + 15× COBRA differential; paid over 18 months; subject to release |
| Restrictive Covenants | Confidentiality during/after employment; Non-compete and non-solicit for at least 18 months post-termination |
| Change-of-Control – Accelerated Vesting (Est.) | $6,434,000 Hull‑White fair value acceleration at 12/31/2024; cash severance $654,928; insurance benefits $32,722 |
Clawback:
- Company maintains an executive officer clawback policy covering incentive-based compensation tied to financial reporting measures, including stock price/TSR and AOP .
Compensation Structure Signals
- Cash vs. equity mix: Low cash compensation relative to market with emphasis on long-term, at-risk performance-based options; cash below market median, total direct above median due to option risk premium .
- Metrics and rigor: Annual cash incentives tied 75% to Adjusted EBITDA (platform-level for Emery) and 25% to individual goals; equity vesting requires sustained AOP growth (10–20% CAGR) with cumulative vesting and equity sweep mechanics .
- Governance: Anti-hedging/pledging; robust ownership guidelines ($1.2m for Emery’s role); independent Compensation Committee and consultant (FW Cook) .
Multi-Year Compensation Summary (Emery)
| Metric | 2023 | 2024 |
|---|---|---|
| Salary ($) | 329,992 | 341,542 |
| Option Awards ($) | — | 1,168,000 |
| Non-Equity Incentive ($) | 151,940 | 228,000 |
| All Other Compensation ($) | 45,123 | 50,998 |
| Total ($) | 527,055 | 1,788,540 |
Performance Context (Company/Segment)
| Performance Metric | 2023 | 2024 |
|---|---|---|
| Net Sales ($mm) | 322.1 | 561.0 |
| Net Income ($mm) | 67.5 | (5.9) |
| Adjusted EBITDA ($mm) | 96.8 | 280.3 |
| Fire Safety Adjusted EBITDA ($mm) | 76.2 | 240.1 |
| TSR – Value of $100 Investment | 38.33 (2023) | 106.50 (2024) |
Investment Implications
- Alignment: Emery’s pay is predominantly performance-based options with rigorous AOP growth hurdles, cumulative vesting, and ownership guidelines ($1.2m), reinforced by anti-hedging/pledging—strong alignment with long-term value creation .
- Execution and retention: 2024 results show substantial Fire Safety profitability improvement (Adjusted EBITDA $240.1m) and strong company Adjusted EBITDA ($280.3m), supporting incentive payouts; no 2024 option exercises reduce near-term selling pressure risk .
- Change-of-control economics: Significant equity acceleration ($6.434m estimated at 12/31/24) plus standard severance could create event-linked incentives; ongoing non-compete/non-solicit mitigate transition risk .
- Pay-for-performance discipline: Annual bonus tied mostly to platform Adjusted EBITDA (52% achievement vs target) and individual goals (15%), suggesting balanced operational and strategic accountability . Say-on-pay support (≈91%) indicates shareholder approval of the program’s design .