Thomas Roehrig
About Thomas Roehrig
Thomas Roehrig is Chief Accounting Officer (CAO) of Quipt Home Medical (QIPT), age 59, named CAO in September 2024 after serving as Executive Vice President, Finance since joining in August 2019. He is a CPA (Ohio) with over 35 years of accounting, finance, and operations experience, including CAO at Dayton Superior Corporation (1998–2018) and 10 years in public accounting; he has participated in over 30 acquisitions and more than 10 capital markets transactions and holds an undergraduate degree in accounting from the University of Dayton . Over his tenure, Quipt’s scale increased materially, with revenues rising from ~$72.6M* in FY2020 to ~$245.9M in FY2024 and EBITDA from ~$11.9M* to ~$46.0M, supporting a pay program increasingly balanced between fixed cash and equity incentives * *.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Quipt Home Medical Corp. | Executive Vice President, Finance | Aug 2019 – Sep 2024 | Led finance; contributed to integration and M&A, participating in 30+ acquisitions and 10+ capital markets transactions . |
| Quipt Home Medical Corp. | Chief Accounting Officer | Sep 2024 – Present | Senior accounting leadership, controls, and reporting oversight for a scaled DME platform . |
| Dayton Superior Corporation | Chief Accounting Officer | 1998 – 2018 | Two decades of accounting and operations leadership in industrials . |
| Public Accounting | Various roles | ~10 years | Foundation in audit and technical accounting . |
External Roles
- Not disclosed in company filings reviewed .
Fixed Compensation
| Component ($USD) | FY 2023 | FY 2024 |
|---|---|---|
| Base Salary | $231,000 | $231,000 |
| Bonus | $115,500 | — (2024 bonus, if any, to be determined and disclosed via Item 5.02(f) in 2025) |
| All Other Compensation | $19,580 (401k match $13,580; car allowance $6,000) | $18,135 (401k match $12,135; vehicle allowance $6,000) |
| Total Compensation | $810,421 | $249,135 |
Bonus framework: Annual cash incentive at Compensation Committee discretion, based on annual financial performance and, at its discretion, other financial and non-financial goals .
Performance Compensation
Outstanding Equity Awards at Fiscal Year-End 2024 (as of 9/30/2024)
| Instrument | Exercisable (#) | Unexercisable (#) | Exercise Price ($USD) | Expiration | RSUs Unvested (#) | RSUs Market Value ($) |
|---|---|---|---|---|---|---|
| Stock Options | 50,000 | — | $2.46 | Sep 16, 2029 | — | — |
| Stock Options | 50,000 | — | $6.28 | May 20, 2031 | — | — |
| Stock Options | 15,000 | 15,000 | $6.15 | Feb 20, 2033 | — | — |
| Restricted Stock Units (RSUs) | — | — | — | — | 15,750 | $45,990 (at $2.92 close on 9/30/2024) |
- RSU vesting: 15,750 RSUs vest in equal amounts on November 20, 2024 and February 20, 2025 .
- Option vesting: 2,500 options vest on each of Nov 20, 2024; Feb 20, 2025; May 20, 2025; Aug 20, 2025; Nov 20, 2025; Feb 20, 2026 .
New Grants (post year-end)
| Grant Date | Instrument | Number of Units | Vesting |
|---|---|---|---|
| Mar 22, 2025 | RSUs | 110,000 | Vest over two years; settled in common shares |
Annual Incentive Metrics and Outcomes
| Year | Metric | Weighting | Target | Actual | Payout ($) | Vesting |
|---|---|---|---|---|---|---|
| FY 2023 | Annual cash incentive (financial and other goals) | Discretionary | Not disclosed | Not disclosed | $115,500 | Cash |
| FY 2024 | Annual cash incentive (financial and other goals) | Discretionary | Not disclosed | Not disclosed | To be determined; will be disclosed via Item 5.02(f) 8-K | Cash |
For FY2024, no grants were awarded under the 2024 EIP (grants resumed in March 2025) .
Equity Ownership & Alignment
| Holder | Beneficial Ownership (Shares) | % of Shares Outstanding | Pledged |
|---|---|---|---|
| Thomas Roehrig | 175,125 | <1% | None of these shares are pledged as security |
- Hedging/pledging: Insider trading policy prohibits hedging, short sales, derivatives on company stock, holding in margin accounts, and pledging Company securities as collateral .
- Options (Exercisable/Unexercisable): 50,000 @ $2.46 (exercisable); 50,000 @ $6.28 (exercisable); 15,000 @ $6.15 (exercisable) and 15,000 unexercisable (scheduled tranches) .
- RSUs (Unvested): 15,750 (market value $45,990 as of 9/30/2024) .
- Upcoming vesting/selling pressure: RSUs vesting in November 2024 and February 2025, plus two-year vesting of 110,000 RSUs granted March 2025, may create episodic supply over 2025–2027 .
Employment Terms
| Provision | Detail |
|---|---|
| Employment Agreement | Not specifically disclosed for Roehrig in the proxy; CEO/CFO agreements summarized, but no Roehrig agreement terms provided . |
| Severance | Not enumerated for Roehrig; under 2024 EIP, the Board may accelerate, continue, extend, or defer vesting/settlement upon change in control or termination (subject to law, including IRC §409A) . |
| Change-of-Control | Board discretion to accelerate vesting/settlement of awards under 2024 EIP upon change in control . |
| Clawback | Policy adopted in 2023 consistent with Rule 10D‑1/Nasdaq, requiring recoupment of erroneously paid incentive-based compensation upon restatements, regardless of fault . |
| Hedging/Pledging | Prohibited for directors, officers, employees and related entities/family members . |
| Non‑compete/Non‑solicit | Not disclosed for Roehrig in filings reviewed. |
| Ownership Guidelines | Not disclosed in filings reviewed. |
Performance & Track Record
| Metric | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|---|
| Revenues ($USD) | $72.639M* | $94.394M* | $127.637M* | $211.677M* | $245.915M |
| EBITDA ($USD) | $11.883M* | $13.839M* | $24.398M* | $40.145M * | $45.990M* |
- Values marked with “*” were retrieved from S&P Global and may not have document citations. Values retrieved from S&P Global.
- Document-cited values: FY2024 revenues $245.915M ; FY2023 EBITDA $40.145M .
Additional Governance and Transactions
- No indebtedness to the Company: Directors, nominees, and executive officers (including Thomas Roehrig) had no loans/advances/guarantees during FY2024 .
- Related party transactions: CFO/CEO leases summarized; no specific related party transactions involving Roehrig disclosed .
Insider Transactions
- No Forms 4 located: No Form 4 filings were found for QIPT in the documents catalog reviewed [List: Found 0 documents of type 4].
- Multiple Forms 3 filed in October 2024 exist but were not returned in search for Roehrig-specific content; details not available from the chunks retrieved [82–89 search returned no content].
Investment Implications
- Alignment: Roehrig’s cash base is modest ($231k) with meaningful legacy options and new RSU grants (110k RSUs in Mar-2025) that increase equity-at-risk and alignment; hedging/pledging prohibitions and clawback policy strengthen governance alignment .
- Retention and selling pressure: Near-term RSU vesting (Nov-2024, Feb-2025) and two-year vesting from the Mar-2025 grant suggest episodic supply potential; however, none of his shares are pledged, reducing forced-sale risk .
- Pay-for-performance: Discretionary annual bonuses hinge on financial performance and committee judgment; 2024 payouts (if any) pending Item 5.02(f) disclosure. Equity awards under the 2024 EIP grant discretion to accelerate vesting on change-of-control, which can create event-driven compensation outcomes .
- Execution risk: As CAO overseeing controls and reporting at a scaled, acquisitive platform, his track record (30+ acquisitions, 10+ capital markets events) aligns with Quipt’s growth-by-acquisition strategy; continued integration discipline remains key amid activism and strategic shifts signaled in 2025 priorities .