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David Hass

Chief Financial Officer (CFO) at Primo Brands
Since November 8, 2024
Age
46 years
Tenure
Joined PRMB on 11-08-2024 as Chief Financial Officer, after holding multiple leadership roles at Primo Water and Legacy Primo.

Also at Primo Brands

HSK
Hih Song Kim
Chief Administrative Officer and Assistant Corporate Secretary
JA
Jason Ausher
Chief Accounting Officer

About

David Hass is a seasoned executive currently serving as the Chief Financial Officer at PRMB, having joined the company on 11-08-2024.

Prior to his current role, he held significant positions at Primo Water and Legacy Primo, including Chief Financial Officer and Chief Strategy Officer, which underline his extensive experience in strategic planning and financial management.

At 46 years old, his leadership contributes to the company’s operational efficiency and growth, supported by a competitive compensation package that includes a base salary of $625,000 and substantial equity incentives.

Past Roles

OrganizationRoleDate RangeDetails
Primo Water Chief Financial Officer (CFO) Jan 2023 - Nov 2024 Former CFO role before joining PRMB
Primo Water Chief Strategy Officer 2020 - 2023 N/A
Legacy Primo Chief Strategy Officer 2011 - 2020 N/A
Legacy Primo Vice President of Strategy 2011 - 2020 N/A
Legacy Primo Vice President of FP&A 2011 - 2020 Financial Planning & Analysis role
Legacy Primo General Manager, Canadian & Water Direct Business Units 2011 - 2020 Oversaw Canadian business unit and Water Direct Business Unit

Fixed Compensation

Data from  FY 2024
Component NameAmountPayment ScheduleAdditional Details
Base Salary$550,000 Annual (2024)Fixed annual salary for 2024
Stock Awards - RSUs22,470 RSUs Vest in three equal annual installmentsRSUs granted in 2024; vesting subject to continued employment
All Other Compensation$26,375 Paid in 2024Miscellaneous fixed compensation
Severance Plan$9,267,333 As per plan terms upon terminationBreakdown: Cash Severance: $1,203,125; Non-Equity Incentive Plan Payment: $412,500; Medical Continuation: $36,503; Accelerated Awards: $7,615,205

Performance Compensation

Data from  FY 2024

Bonus-Adjusted EBITDA

MetricValue
Weight50%
Threshold$375.0 million
Target$412.9 million
Outperform$474.8 million
Actual$435.6 million
% Payout136.7%
Weighted % Payout68.4%

Bonus-Adjusted Operating Free Cash Flow

MetricValue
Weight25%
Threshold$144.5 million
Target$170.0 million
Outperform$195.5 million
Actual$201.6 million
% Payout200.0%
Weighted % Payout50.0%

Bonus-Adjusted Revenue

MetricValue
Weight25%
Threshold$1,779.0 million
Target$1,872.6 million
Outperform$2,003.7 million
Actual$1,894.8 million
% Payout116.9%
Weighted % Payout29.2%

Aggregate Bonus Payout

MetricValue
Aggregate Bonus %147.6%

Grant Details

  • Grant Dates: November 8, 2024 and December 11, 2024
  • Grant Date Fair Values:
    • November 8, 2024: $2,581,689
    • December 11, 2024: $1,929,224

Equity Awards

  • Performance-Based Restricted Share Units (RSUs):
    • Units: 22,470 RSUs
    • Vesting: Vest in three equal annual installments
    • Grant Date Fair Value: $713,198
  • Performance-Based Stock Performance Units (PSUs):
    • Units: 43,618 PSUs
    • Vesting: Based on TSR relative to the S&P 400 index over a three-year period (2025–2027)
    • Grant Date Fair Value: $1,929,224

Non-Equity Incentive Plan Compensation

MetricValue
Threshold$206,250
Target$412,500
Maximum$825,000
Annual Target Bonus (% of Base Salary)75% ( )
One-time Discretionary Cash Bonus$300,000

The performance compensation components for 2024 include detailed bonus metrics based on EBITDA, operating free cash flow, and revenue, along with equity awards and non-equity incentive plan compensation. All payouts are tied to specified performance metrics and vesting schedules as detailed above.