Jeffrey Kutz
RESIDEO TECHNOLOGIESAbout Jeffrey Kutz
Jeffrey Kutz, 65, is Senior Vice President and Chief Accounting Officer (principal accounting officer) of Resideo Technologies, appointed effective July 21, 2025; he is a CPA with a B.S. in Accounting and a B.A. in Economics . Resideo’s pay-for-performance context for Kutz includes company metrics: 2024 net revenue of $6.8 billion (+8% YoY), gross margin 28.1%, cash from operations $444 million, and TSR value of $193 versus $138 for the S&P 600, illustrating positive shareholder value creation entering his tenure . The executive annual incentive program is tied 100% to financial performance using net revenue (constant currency) and operating income margin, each weighted 50% , and the 2025 PSU program shifts to equal weighting of three-year average ROIC and three-year rTSR with a 200% cap, and a negative TSR payout cap at 100% .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Resideo Technologies, Inc. | SVP, Chief Accounting Officer; Principal Accounting Officer | Jul 2025–Present | Oversees SEC reporting and accounting policy; signed Q3 2025 10‑Q as PAO |
| Quaker Chemical Corporation | Vice President, Chief Accounting Officer | Jan 2024–Jul 2025 | Led global accounting and control for industrial process fluids company |
| Air Products and Chemicals, Inc. | Vice President, Corporate Controller & Principal Accounting Officer; prior finance roles | 2015–Dec 2023 (VP PAO since May 2022) | Corporate controllership and SEC reporting leadership across multi-year tenure |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| — | — | — | — |
Fixed Compensation
| Component | Amount | Effective Date | Notes |
|---|---|---|---|
| Base Salary | $425,000 | Jul 21, 2025 | Offer letter initial annual base salary |
| Target Bonus % | 50% of base salary | 2025 | Annual incentive target under company AIP |
| Sign‑on Cash | $120,000 | 2025 | Subject to repayment if resignation before 2nd anniversary |
| Sign‑on RSU (Grant Date Fair Value) | $650,000 | 2025 | Vests one‑third on each of the first, second, and third anniversaries of grant |
| Ongoing Annual Equity (Target Grant Value) | $425,000 | Beginning fiscal 2026 | Mix may include RSUs and PSUs per executive program |
Performance Compensation
| Incentive | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Annual Incentive Plan (AIP) | Net Revenue (constant currency) | 50% | Target not disclosed for Kutz | — | — | Cash paid annually; targets set by Board |
| Annual Incentive Plan (AIP) | Operating Income Margin | 50% | Target not disclosed for Kutz | — | — | Cash paid annually; targets set by Board |
| Long‑Term Incentive (2025 design; applies to future PSU cycles) | Three‑year average ROIC | 50% | Target shares; max 200% | — | — | 3‑year performance; independent of rTSR; negative TSR caps rTSR payout at 100% |
| Long‑Term Incentive (2025 design; applies to future PSU cycles) | Three‑year rTSR (vs comparator group) | 50% | Target shares; max 200% | — | — | 3‑year performance; cap at 100% if TSR is negative |
| Sign‑on Equity | Time‑based RSU | — | $650,000 grant date fair value | — | — | Vests 1/3 annually on grant anniversaries |
Notes: Kutz joined in mid‑2025; no individual AIP target levels or actual payouts are disclosed for him yet. Company AIP metrics/weighting apply enterprise‑wide .
Equity Ownership & Alignment
- Stock ownership guidelines: CEO 6x base salary; other executive officers 3x base salary; five years to comply; unvested RSUs and earned PSUs count toward compliance .
- Hedging/pledging prohibited: No short sales, options, derivatives, margin accounts, or pledging Resideo securities .
- Clawback: NYSE‑compliant policy to recover excess incentive‑based compensation after accounting restatement over prior three years .
- Beneficial ownership: Individual share count for Kutz not disclosed in the April 8, 2025 stock ownership table (pre‑appointment); group holdings provided but do not enumerate Kutz .
Employment Terms
| Term | Detail |
|---|---|
| Start Date | Effective July 21, 2025 appointment as SVP, Chief Accounting Officer |
| Role & Authority | Principal accounting officer responsibilities confirmed via Q3 2025 10‑Q signatures |
| Compensation Terms | Base $425,000; 50% AIP target; sign‑on RSU $650,000 (1/3 annual vesting); sign‑on cash $120,000 with 2‑year repayment condition; annual equity target $425,000 beginning FY2026 |
| Severance (baseline plan) | Participates in Severance Pay Plan for Designated Officers; double trigger CIC framework under Company plan |
| Enhanced Severance (offer letter) | If involuntarily terminated without cause before 2‑year anniversary: 24 months base salary continuation; 2x target annual incentive (payable over continuation period); accelerated vesting of all unvested equity awards |
| CIC Cash Severance Policy Cap | No cash severance >2.99x base + target bonus for executive officers without advisory shareholder ratification |
| Non‑compete/IP agreements | Company requires NEOs to sign non‑competition and IP agreements where permitted by law; applies to executive cohort |
| Deferred Compensation | Eligibility to participate in Supplemental Savings Plan (DIP/SSP) with company matching credits up to 7% combined; SSP balances track Fidelity U.S. Bond Index Fund returns |
| Insider Trading Policy | Insider trading policy on file; covers directors, officers, employees |
Investment Implications
- Retention risk appears contained: two‑year sign‑on cash clawback and enhanced severance (24 months base + 2x AIP target + accelerated vesting) materially increase the cost of voluntary departure before mid‑2027 .
- Alignment strengthens over time: annual equity beginning FY2026 plus RSU vesting schedule create growing equity exposure; executive ownership guidelines require 3x salary within five years; hedging and pledging bans reinforce alignment .
- Near‑term trading signals: watch for Form 4s around first RSU vesting anniversary; potential adoption of 10b5‑1 plans is common given role, though none disclosed to date .
- Change‑of‑control dynamics: double‑trigger CIC plan and 2.99x cap mitigate excessive payouts; PSU program shift to ROIC+rTSR (with negative TSR cap) increases linkage to financial results and shareholder returns for future awards .
- Execution focus: Kutz’s controllership pedigree (Air Products, Quaker) supports governance and reporting quality; he enters amid improving operating metrics and TSR context, which should align incentive payouts with performance .