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    Robert Austin

    Chief Operating Officer (COO) at Primo Brands Corp
    Since November 8, 2024
    Age
    55 years
    Tenure
    Joined PRMB as COO on November 8, 2024.

    Also at Primo Brands Corp

    HSK
    Hih Song Kim
    Chief Administrative Officer and Assistant Corporate Secretary

    About

    Robert Austin is the Chief Operating Officer at Primo Brands Corporation (PRMB), having assumed this role on November 8, 2024. He is recognized for his extensive background in operations and supply chain management across major organizations.

    Before joining PRMB, he held several leadership roles at BlueTriton, including serving as COO from June 2023 until his move to PRMB, along with a term as President from 2022 to 2023. His career also spans a lengthy tenure at Nestlé Waters, where he held key positions such as Senior Director of Supply Chain and National Operations Manager for the ReadyRefresh segment.

    Earlier in his career, he demonstrated entrepreneurial skills by managing a startup, Austin Computer Enterprises, Inc., and held various managerial roles at Butler International from 1994 to 2004. Due to limited public information, details on his educational background and personal life are not available.

    Past Roles

    OrganizationRoleDate RangeDetails
    BlueTriton Chief Operating Officer June 2023 - November 2024 N/A
    BlueTriton President 2022 - 2023 N/A
    BlueTriton Vice President of Field Operations 2021 - 2022 ReadyRefresh segment
    Nestlé Waters Senior Director of Supply Chain – ReadyRefresh 2006 - 2021 N/A
    Nestlé Waters National Operations Manager – Retail Direct for ReadyRefresh 2006 - 2021 N/A
    Austin Computer Enterprises, Inc. Managed growth of startup 1999 - 2004 N/A
    Butler International Managerial Roles 1994 - 2004 N/A

    Fixed Compensation

    Data from  FY 2024
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$800,000 AnnualAnnual base salary
    Stock Awards$1,403,778 As GrantedTotal stock awards
    Option Awards$1,543,189 As GrantedTotal option awards
    All Other Compensation$67,492 AnnualIncludes allowances and perquisites
    Long-Term Incentive Awards - Time-Based RSUs$378,880 Vestes in three equal annual installments11,937 RSUs granted on December 11, 2024
    Long-Term Incentive Awards - Class B Units$1,543,189 As Granted3,000 Class B Units granted on October 3, 2024
    Potential Severance Payments - Termination Without Cause$4,854,170 Contingent on termination without causeIncludes cash severance, non-equity incentive plan payment, medical continuation, and accelerated awards
    Potential Severance Payments - Termination in Connection with Change of Control$5,329,529 Contingent on termination in connection with change of controlIncludes cash severance, non-equity incentive plan payment, medical continuation, and accelerated awards
    Accelerated Vesting Upon Change of Control$1,080,304 Upon change of controlAccelerated vesting of equity awards

    Performance Compensation

    Data from  FY 2024

    Bonus Compensation (Short-Term Bonus)

    MetricValueDetails
    Pro-rated Base Salary$389,245 Fiscal 2024 pro-rated amount
    Target Bonus Percentage150% Applied to pro-rated base salary
    Pro-rated Bonus Target Amount$583,867 Calculated as pro-rated salary x target bonus percentage
    Individual Performance Factor138% Based on individual performance rating (4.2/5)
    Company Performance Factor174% Based on achievement of company metrics: Retail EBITDA (190%), ReadyRefresh EBITDA (127%), Working Capital (100%), and Corporate Responsibility (100%)
    Short-Term Bonus Payout (Post Promotion)$1,402,787 Multiplied bonus target by performance factors
    Total Short-Term Bonus Payout$1,920,606 Full fiscal year payout

    Non-Equity Incentive Plan Compensation

    MetricValueDetails
    Pro-rated Base Salary$331,579 Fiscal 2024 pro-rated amount
    Target Bonus Percentage65% Applied to pro-rated base salary
    Pro-rated Bonus Target Amount$215,526 Calculated as base salary x bonus percentage
    Individual Performance Factor138% Based on individual goals and competencies
    Company Performance Factor174% Based on BlueTriton business metrics: Retail EBITDA (190% for 75% weight), ReadyRefresh EBITDA (127% for 25% weight), Working Capital (100% for 15% weight), and Corporate Responsibility (100% for 10% weight)
    Pro-rated Short-Term Bonus Payout$517,819 Calculated by applying performance factors to bonus target
    Grant DateOctober 3, 2024 For non-equity incentive component
    Grant Date Fair Value$1,543,189 Valuation at grant date
    Vesting ScheduleRSUs vest in three equal annual installmentsSubject to continued employment

    Performance-Based RSUs (PSUs)

    MetricValueDetails
    Threshold9,268 shares Minimum performance level for vesting
    Target23,172 shares Expected performance level for full vesting
    Maximum46,344 shares Cap on awards if performance exceeds target
    Grant DateDecember 11, 2024 Performance period begins from the next fiscal year
    Grant Date Fair Value$1,024,898 Estimated via Monte Carlo simulation
    Grant Date Stock Price$30.30 Average closing price from the eight trading days before grant
    Vesting ScheduleVests at the end of a three-year period (2025-2027)Contingent on achieving TSR relative to the S&P 400 index and continued employment
    Evaluation PeriodFiscal years 2025 to 2027Total Shareholder Return measured against the S&P 400

    This section outlines the performance components for 2024, covering bonus compensation, non-equity incentive plans, and performance-based RSUs with detailed metrics, targets, thresholds, vesting conditions, and evaluation periods.