Michael McMahon
Reynolds Consumer ProductsAbout Michael McMahon
Michael F. McMahon, age 61, is Senior Vice President, Key Accounts Sales at Reynolds Consumer Products (REYN), a role he has held since April 2015. He previously served as Vice President of the Non-Foods/Club Channel (Nov 2012–Mar 2015), joined Pactiv in 2006 as Director of Category Management, and spent twenty years in sales at Kraft Foods, including Senior Director of Category Planning. He holds a B.A. in Marketing and Management from Olivet College, Michigan . Company performance metrics linked to executive incentives include Adjusted EBIT and Revenue; in FY2024 Adjusted EBIT was $549 million and Revenue was $3,695 million, driving a 121% payout under the annual incentive plan for senior executives .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Reynolds Consumer Products | SVP, Key Accounts Sales | Apr 2015–present | Leads sales to key accounts; stewardship of commercial relationships across major retailers |
| Reynolds Consumer Products | VP, Non-Foods/Club Channel | Nov 2012–Mar 2015 | Managed club and non-foods channel strategy and execution |
| Pactiv (pre-2010 acquisition) | Director, Category Management | 2006–2010 | Built category management capabilities; moved to RCP post-PEI’s 2010 acquisition of Pactiv |
| Kraft Foods | Senior Director, Category Planning and other sales roles | ~20 years | Led category planning; deep CPG sales experience |
External Roles
No public company directorships or external roles disclosed for McMahon .
Fixed Compensation
- Base salary, target bonus %, and actual bonus paid are not disclosed for McMahon (the proxy provides these only for named executive officers) .
Performance Compensation
Company programs apply to senior executives (including NEOs); McMahon participates in the same structures unless otherwise noted.
Annual Incentive Program (AIP) – FY2024 design and outcome
| Metric | Weight | FY2024 Target | FY2024 Actual | Payout Attainment | Final Weighted Payout |
|---|---|---|---|---|---|
| Adjusted EBIT Growth vs FY2023 | 80% | $527m (103.0% of FY2023) | $549m (107%) | 141% | 113% |
| Revenue Growth vs FY2023 | 20% | $3,850m (102.5% of FY2023) | $3,695m (98%) | 40% | 8% |
| Total AIP Payout | 121% of target |
Notes: Senior executives’ AIP is driven 80% by Adjusted EBIT Growth and 20% by Revenue Growth; payouts interpolate between threshold and maximum .
Long-Term Incentive (LTI) – FY2024 PSU determination
| Metric | Weight | FY2024 Target | FY2024 Actual | PSUs Earned |
|---|---|---|---|---|
| Adjusted EPS Growth vs FY2023 | 50% | $1.47 (103.5% of FY2023) | $1.67 (118%) | 190.9% |
| Free Cash Flow | 50% | $315m | $369m | 185.7% |
| Total PSU Earned | 188% of target (vests at 3rd anniversary) |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership (Common Stock) | 7,437 shares directly owned after Feb 1, 2025 transactions |
| Ownership % of shares outstanding | ~0.0035% (7,437 / 210,318,222 shares outstanding as of Feb 28, 2025) |
| Unvested RSUs outstanding post 2/1/2025 | 6,389 RSUs total: 3,260 new grant (one-third vests annually); 965 vest on 2/1/2026; 2,164 vest equally on 2/1/2026 and 2/1/2027 |
| 2/1/2025 vesting and tax withholdings | 956, 965, and 1,082 RSUs vested; 268, 291, and 350 shares withheld to satisfy taxes (Code F) at $27.61, no open-market sale reported |
| Option awards | None reported in McMahon’s Form 4s; company does not use stock options broadly for senior executives in recent years |
| Hedging/pledging policy | Employees and directors are prohibited from hedging and pledging Company securities |
| Clawback policy | Nasdaq-compliant clawback covering incentive-based compensation upon accounting restatement |
| Stock ownership guidelines | Other executive officers must hold stock equal to 2× annual base salary; unearned PSUs/options don’t count; compliance required by the later of July 1, 2028 or 5 years after becoming subject |
Employment Terms
- Employment agreements and severance/change-of-control terms are disclosed for named executive officers (NEOs); McMahon’s individual employment agreement terms are not disclosed in the proxy .
- Equity award eligibility requires a non-competition agreement; restrictive covenants attach to extended vesting provisions (retirement/enhanced retirement definitions are in award agreements) .
Investment Implications
- Alignment: McMahon’s incentive pay is tied to enterprise metrics (Adjusted EBIT, Revenue, Adjusted EPS, Free Cash Flow) consistent with senior executive programs, signaling pay-for-performance; FY2024 results produced above-target payouts (AIP at 121%; PSUs earned at 188%) .
- Selling pressure: No open-market sales observed in 2025 filings; tax withholding (Code F) reduced net shares at vesting without market sales, indicating limited near-term selling pressure from McMahon specifically .
- Supply overhang from vesting: Upcoming RSU vesting events (965 shares on 2/1/2026; plus tranches scheduled for 2/1/2026 and 2/1/2027; and one-third of the 3,260-grant annually through 2027–2028) may add marginal supply, though policies prohibit hedging/pledging and require retention until ownership guidelines are met .
- Governance/Retention: Anti-hedging/anti-pledging, clawback, and ownership guidelines (2× salary for other executive officers) support long-term alignment; McMahon’s long tenure since 2015 reduces near-term retention risk absent disclosed contract specifics .
Context: FY2024 company performance included Adjusted EBIT of $549m and Revenue of $3,695m; Company TSR (value of $100 since listing) stood at 109 in 2024, aligning incentive outcomes with financial performance .