Sarah F. Colbert
STURM RUGER & COAbout Sarah F. Colbert
Senior Vice President, General Counsel and Corporate Secretary at Sturm, Ruger & Co. since July 2025; appointed General Counsel and Corporate Secretary effective May 29, 2025 after serving as Vice President of Administration since June 2017 and joining Ruger in 2011 as Associate General Counsel . Education: J.D. (University of Connecticut School of Law, Certificate in Taxation, 2005), B.A. summa cum laude (Suffolk University, 2001), and Wharton General Management Program (2025) . Prior to Ruger, practiced at Day Pitney LLP and Ryan Ryan Deluca LLP; served on the Connecticut Supreme Court Chief Justice’s Civil Commission on Alternative Dispute Resolution and the Electronic Discovery Committee .
Company performance context: FY 2024 revenues $535.6M*, EBITDA $55.3M*, and diluted EPS $1.77*, with quarterly revenues of $145.8M (Q4’24), $135.7M (Q1’25), $132.5M (Q2’25), and $126.8M (Q3’25)* [GetFinancials]. Values retrieved from S&P Global.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Sturm, Ruger & Co. | Senior Vice President, Corporate Secretary & General Counsel | Jul 2025–present | Leads legal affairs and corporate governance; responsibilities include commercial transactions, compliance, litigation, labor, IP . |
| Sturm, Ruger & Co. | Vice President, General Counsel & Corporate Secretary | May 29–Jul 2025 | Transitioned leadership of legal and governance functions from retiring GC; maintained leadership team role . |
| Sturm, Ruger & Co. | Vice President of Administration | Jun 2017–May 2025 | Oversaw HR, IT, EHS, procurement, supply chain, warehousing and logistics; cross‑functional execution . |
| Sturm, Ruger & Co. | Associate General Counsel | 2011–2017 | Supported legal function across transactions, compliance and litigation . |
| Day Pitney LLP | Attorney | Not disclosed | Civil practice; litigation and advisory work (pre‑Ruger) . |
| Ryan Ryan Deluca LLP | Attorney | Not disclosed | Civil practice; litigation and advisory work (pre‑Ruger) . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Connecticut Supreme Court | Chief Justice’s Civil Commission (ADR) & Electronic Discovery Committee | Not disclosed | Contributed to statewide ADR and e‑discovery practice standards . |
Fixed Compensation
- Specific salary, bonus, and perquisites for Ms. Colbert are not disclosed in the latest proxy or 8‑K filings; Ruger’s officer compensation framework applies broadly .
- Stock ownership guidelines: CEO 5× base salary; Senior Vice Presidents 3×; other NEOs 2× (Ms. Colbert, as SVP, is subject to 3× multiple) .
| Item | 2024 Policy Detail | Source |
|---|---|---|
| Profit Sharing | Company‑wide, formula‑based; typically 15% of Adjusted Operating Profit after accruals . | |
| Officer Ownership Guidelines | CEO 5× salary; SVP 3×; other NEOs 2× . | |
| Hedging Policy | Hedging and speculative transactions prohibited for directors, officers, and employees . | |
| Clawback Policy | Performance‑based compensation subject to clawback upon required restatement due to material noncompliance . |
Performance Compensation
Ruger’s officer annual cash incentive (2024) was based on 80% EBIT and 20% non‑financial objectives, with a 200% cap. Actual EBIT was $39.7M versus a $72.4M target; non‑financial objectives achieved at 80% of the 20% allocation. Aggregate payout equaled 59.8% of target .
| Metric | Weighting | Target | Actual | Payout Formula | Actual Payout |
|---|---|---|---|---|---|
| EBIT | 80% | $72.4M | $39.7M | 1% change per $0.724M vs target; max 200% . | 54.8% of goal applied to 80% weight . |
| Non‑Financial Objectives | 20% | Seven objectives with assigned weights | 80% achievement | Up to 140% of the 20% allocation (weighted) . | 80% of 20% weight . |
| Aggregate Bonus | — | — | — | Sum of EBIT and non‑financial components | 59.8% of target . |
Equity incentives for Ruger officers:
- Performance‑based RSUs: 3‑year performance period; vesting based on return on net operating assets (year‑weighted) with TSR modifier ±10 percentage points; payout scale from 0–200% .
- Time‑based RSUs: 3‑year cliff vest; since 2020, settled in cash; retention‑focused .
| Equity Award Type | Vesting Mechanics | Payout Scale / Settlement | Source |
|---|---|---|---|
| Performance‑based RSUs | RO‑NOA measured in three 1‑year periods; TSR modifier ±10 pts | 0–200% of target based on achievement . | |
| Time‑based RSUs | 3‑year cliff vest | Settled in cash since 2020 . |
Equity Ownership & Alignment
| Item | Disclosure | Source |
|---|---|---|
| Total Beneficial Ownership (Ms. Colbert) | Not individually disclosed in 2025 proxy beneficial ownership table; officers & directors as a group held 780,004 shares (4.6%) as of Apr 3, 2025 . | |
| Vested vs Unvested | Not disclosed for Ms. Colbert. | — |
| Options | Ruger currently utilizes RSUs rather than stock options for executives; no option grants to NEOs in 2024 . | |
| Pledging | No explicit pledging policy disclosed; hedging prohibited under Insider Trading Policy . | |
| Ownership Guidelines Compliance | Individual compliance status for Ms. Colbert not disclosed; SVP guideline = 3× salary . |
Employment Terms
No individual employment/severance agreement for Ms. Colbert is disclosed; Ruger maintains standardized officer severance agreements (as detailed for other NEOs) and stock incentive plan change‑in‑control terms.
| Provision | Pre‑CIC Termination (Without Cause/Good Reason) | CIC + Termination (Within 24 Months) | Auto‑Renewal | Notes | Source |
|---|---|---|---|---|---|
| Cash Severance | 18 months of Base Annual Salary | 24 months of Annual Compensation | One‑year term; auto‑extends annually unless notice given | Applies to NEO severance agreements highlighted in proxy; structure typical for officers . | |
| Medical Benefits | Up to 18 months | Up to 24 months | — | Continuation of medical insurance . | |
| Equity Vesting | Prorated vesting of outstanding retention and performance RSUs | Full vesting; cash value payout of vested shares at CIC effective date | — | Subject to plan and award terms . | |
| CIC Equity Plan | 2017 Plan allows accelerated vesting; 2023 Plan uses double trigger (CIC plus qualifying termination) | — | — | Treatment may vary if awards are assumed/substituted in a transaction . |
Governance and policies applicable to executives:
- Insider Trading Policy prohibits hedging and speculative transactions .
- Executive Compensation Clawback Policy (financial restatement trigger) .
Company Performance (Context for Pay‑for‑Performance)
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($) | 595,842,000* | 543,767,000* | 535,643,000* |
| EBITDA ($) | 128,792,000* | 74,962,000* | 55,284,000* |
| Diluted EPS (Continuing Ops) ($) | 4.96* | 2.71* | 1.77* |
Values retrieved from S&P Global.
| Metric | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 |
|---|---|---|---|---|
| Revenues ($) | 145,775,000* | 135,738,000* | 132,491,000* | 126,766,000* |
| EBITDA ($) | 18,098,000* | 14,043,000* | -15,144,000* | 2,093,000* |
| Diluted EPS (Continuing Ops) ($) | 0.63* | 0.46* | -1.05* | 0.10* |
Values retrieved from S&P Global.
Additional PVP context: Company‑level Pay‑Versus‑Performance disclosure shows 2024 TSR of 100.76 vs peer TSR 108.76, Net Income $30.6M, and RNOA of 14% .
Say‑on‑Pay & Compensation Committee
- Say‑on‑Pay approval: 97% “FOR” votes at 2024 annual meeting .
- Compensation Committee (2024): John A. Cosentino, Jr. (Chair), Sandra S. Froman, Terrence G. O’Connor, Phillip C. Widman, Ronald C. Whitaker; all independent under NYSE rules .
- Use of independent compensation consultants is periodic per committee charter .
Investment Implications
- Alignment: Ruger’s executive pay design emphasizes multi‑year RO‑NOA performance RSUs with TSR modifiers and strict hedging prohibitions and clawbacks—favorable for long‑term alignment; SVP ownership guideline (3× salary) increases skin‑in‑the‑game, though Ms. Colbert’s specific holdings and compliance status are not disclosed .
- Retention risk: Long tenure (2011–present) and recent elevation to SVP suggest low near‑term departure risk; standardized severance and double‑trigger CIC equity vesting reduce uncertainty in corporate transitions .
- Trading signals: Lack of disclosed individual Form 4 activity and ownership detail limits visibility into potential selling pressure; monitor future proxy/Section 16 filings for RSU vesting and sales.
- Performance backdrop: Softening EPS and EBITDA in 2024–2025 reflect industry headwinds; governance and pay mechanics remain disciplined, with strong shareholder support (97% Say‑on‑Pay), reducing governance‑related overhang [GetFinancials].
Notes: Where asterisked (*), values retrieved from S&P Global.