Amanda Hodges
REPUBLIC SERVICESAbout Amanda Hodges
Amanda Hodges is Executive Vice President, Chief Commercial Officer (appointed August 2024), leading Republic’s sales organization and customer service to drive profitable growth and loyalty; she previously served as EVP, Chief Marketing Officer from November 2020 to August 2024 and is age 52 . Her background includes 15 years in leadership roles at Dell Technologies (SVP, North America Marketing and Global Customer Briefing Program), strategy consulting at McKinsey & Company, and chemical engineering at GE Plastics . Company performance underpinning executive incentives during her tenure includes 2024 adjusted EPS of $6.41 vs. $6.09 target and adjusted free cash flow of $2,183 million vs. $2,143 target , three-year CFVC totaling $6,044 million and three-year ROIC of 9.9% for the 2022–2024 PSU cycle , and 2022–2024 relative TSR at the 81.1st percentile driving the TSR component to 150% payout .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Republic Services (RSG) | EVP, Chief Commercial Officer | Aug 2024–present | Leads sales and customer service to drive profitable growth and customer loyalty . |
| Republic Services (RSG) | EVP, Chief Marketing Officer | Nov 2020–Aug 2024 | Oversaw marketing, communications, product development, customer engagement, and revenue oversight . |
| Dell Technologies | SVP, North America Marketing & Global Customer Briefing Program | ~15 years (prior to Nov 2020) | Senior leadership roles across marketing; drove go-to-market and customer engagement . |
| McKinsey & Company | Strategy Consultant | Not disclosed | Strategy consulting experience . |
| GE Plastics | Chemical Engineer | Not disclosed | Technical/operator foundation . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Not disclosed | — | — | No external board or committee roles disclosed in executive officer biographies . |
Fixed Compensation
- Republic’s NEO/Executive program emphasizes at‑risk pay; core elements are base salary, annual cash incentive, and long‑term incentives (PSUs/RSUs) .
- Perquisites are modest: relocation gross‑ups (policywide), health club stipend (corporate office), concierge medical services (VPs+), and executive physical exam; aircraft personal use limited and reviewed quarterly; no excise tax gross‑ups on change‑in‑control .
- No individual base salary or bonus disclosures for Ms. Hodges (non‑NEO); Republic generally does not enter into employment agreements for executives .
Performance Compensation
Annual Incentive Design (Senior Executives, including EVPs)
- Metrics: 50% Adjusted EPS, 50% Adjusted Free Cash Flow; sustainability modifier adjusts payout ±10 percentage points based on interim safety, talent, and climate goals .
- Governance: Targets set to align with published guidance; rigorous, balanced, and capped .
Annual Incentive Outcomes (Company, used to determine program payouts)
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| EPS Measure Target ($) | 4.76 | 5.27 | 6.09 |
| EPS Measure Actual ($) | 4.93 | 5.61 | 6.41 |
| FCF Measure Target ($mm) | 1,703 | 1,915 | 2,143 |
| FCF Measure Actual ($mm) | 1,742 | 1,985 | 2,183 |
| Financial Incentive Payout (%) | 185% | 164.15% | 152.46% |
| Sustainability Modifier (%) | 0% | -3% | 0% |
| Total Annual Incentive Payout (%) | 185% | 161.15% | 152.46% |
Long‑Term Incentives (PSUs/RSUs)
- PSU metrics and weighting (2024–2026 cycle): CFVC 40%, ROIC 40%, RTSR 20% .
- RSUs vest ratably over four years; PSUs vest after three years based on performance; PSUs accrue dividends but pay only if earned; RSUs receive dividend equivalents that vest with the RSUs .
- PSU settlement for NEOs: 50% cash, 50% shares upon vesting (design feature indicating reduced selling pressure at vest) .
| PSU Metric | Weighting | Payout Basis | Notes |
|---|---|---|---|
| Cash Flow Value Creation (CFVC) | 40% | 3‑year CFVC vs. targets | Adjusted for specified items; promotes disciplined investment . |
| Return on Invested Capital (ROIC) | 40% | 3‑year ROIC vs. targets | Adjusted metric; tied to value creation . |
| Relative TSR (RTSR) | 20% | Percentile vs. peer group | Neutralizes broader market moves; payout curve capped at 150% . |
2022–2024 PSU Actuals (Company performance underpinning payouts)
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| CFVC ($mm) | 1,718 | 1,972 | 2,354 |
| ROIC (%) | 9.4% | 9.7% | 10.4% |
| Three-Year Measure | Value |
|---|---|
| CFVC total (2022–2024, $mm) | 6,044 |
| ROIC (2022–2024, %) | 9.9% |
| RTSR Actual (Percentile) | 81.1th percentile |
| RTSR Earning Percentage | 150% |
| Combined PSU payout (2022–2024 cycle) | 136.16% of target |
Award Timing and Options
- Annual LTI grants approved early February post‑10‑K filing and end of blackout; mid‑year promotion grants post‑10‑Q and blackout; no backdating or coordination with MNPI; no stock options granted to executives since 2014 .
Equity Ownership & Alignment
| As-of Date | Shares Beneficially Owned | RSUs (vested+unvested) | Ownership % of SO | Notes |
|---|---|---|---|---|
| March 15, 2023 | 7,522 | 9,340 | <1% (316,243,575 SO) | RSUs shown for alignment; not deemed beneficial ownership per SEC . |
- Executive stock ownership guidelines updated in 2024: CEO 8x salary; other Executive Officers (including EVPs) 5x salary; compliance expected within 5 years; includes shares, vested DCP stock equivalents, and 401(k) shares .
- Anti‑hedging/anti‑pledging: Prohibits hedging, short sales, margin accounts, and pledging of Republic securities; quarterly blackout restrictions, pre‑clearance for Insiders .
- Insider Form 4 analysis: Attempt to fetch Amanda Hodges’ transactions (2020–2025) failed due to API authorization error; no recent insider selling pressure analysis available from Form 4 data in this session. The Company’s prohibition on pledging and margin accounts reduces forced‑sale risk from collateral calls .
Employment Terms
- No individual employment agreement; executives covered by Executive Separation Policy with non‑competition and non‑solicitation agreements; release and cooperation obligations .
- Termination without cause (no CIC): Two years of base salary; annual incentive generally prorated based on actual performance (CEO exception per policy); outstanding equity continues to vest up to one year; earned PSUs prorated; welfare benefits continued up to two years .
- Disability/Death: Immediate vesting of outstanding equity; annual incentive prorated (disability) or paid at target (death) subject to policy; earned PSUs prorated; COBRA continuation .
- Change in Control (double trigger within 1 year): Lump sum two times base salary plus target annual cash incentive; annual cash awards vest at target; PSUs vest at target without proration; RSUs immediately vest; welfare benefits continued up to two years .
- Clawback: More robust than SEC/NYSE—applies to vested/unvested incentive comp (including equity gains) with 3‑year lookback in case of restatement; additional “Covered Events” (e.g., certain crimes, policy breaches, fiduciary breaches) allow forfeiture/repayment .
Investment Implications
- Alignment: Strong pay‑for‑performance design (EPS, FCF for annual; CFVC, ROIC, RTSR for LTIs) with rigorous targets and sustainability modifier; 2022–2024 performance delivered above‑target CFVC/ROIC and top‑quartile RTSR driving PSU payouts, signaling disciplined execution in her commercial leadership window .
- Retention risk: Executive Separation Policy with double‑trigger CIC protection and ongoing equity vesting for up to a year on involuntary separation reduces abrupt departure risk; ownership guideline at 5x salary fosters long‑term alignment .
- Trading signals: Anti‑pledging/margin and blackout/pre‑clearance policies reduce opportunistic or forced transactions; PSU settlement 50% in cash for NEOs can lower mechanical selling at vest—expect similar design features at EVP level, moderating vest‑related selling pressure .
- Execution track record: Elevation to CCO (Aug 2024) and leadership over commercial initiatives including Republic’s Circularity Index launch underscores focus on revenue growth and customer outcomes; watch commercial KPIs and annual incentive outcomes tied to EPS/FCF for ongoing signal strength .
- Governance: Robust clawback, no options since 2014, no CIC excise tax gross‑ups, and strong say‑on‑pay support (97.2%) support shareholder‑friendly compensation oversight .