Gerald Blaskie
About Gerald Blaskie
Gerald S. Blaskie (age 67) is Vice President, Treasurer, and Chief Financial Officer of SCI Engineered Materials, Inc., serving as CFO since March 2006 (joined SCI as CFO April 2001). He holds a B.S. in Accounting from Central Michigan University and passed the CPA exam in Ohio . Performance context during 2022–2024: Company net income was $1,957k (2022), $2,194k (2023), and $1,861k (2024); the “Value of Initial Fixed $100 Investment” (TSR proxy) was $(13.37), $25.00, and $13.86, respectively .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| SCI Engineered Materials | Vice President, Treasurer & CFO | Mar 2006–present | Long-tenured CFO overseeing finance; supports audit, controls, and incentive plans . |
| SCI Engineered Materials | Chief Financial Officer | Apr 2001–Mar 2006 | Early finance leadership during growth phase . |
| Cable Link, Inc. | Controller | Feb 2000–Mar 2001 | Financial controls and reporting in manufacturing context . |
| Central Ohio Plastics Corporation | Plant Manager | 1997–2000 | Operations leadership driving execution and efficiency . |
| Central Ohio Plastics Corporation | Controller | 1993–1997 | Accounting and cost discipline to support operations . |
External Roles
- No public company directorships or external board roles disclosed in the proxy materials .
Fixed Compensation
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary ($) | $202,525 | $209,616 | $224,423 |
| All Other Compensation ($) – 401(k)/Profit-Sharing | $5,972 | $34,940 | $38,169 |
| Stock Awards ($) | $6,500 | $10,501 | $11,251 |
Performance Compensation
| Metric | Target | 2022 Actual/Payout | 2023 Actual/Payout | 2024 Actual/Payout |
|---|---|---|---|---|
| Annual Incentive – Adjusted Net Income % (PFO) | 2.5% of adjusted net income | $72,652 (deferred $69,507; paid 2023) | $79,659 (deferred $75,194; paid 2024) | $72,118 (deferred $66,905; paid 2025) |
| On-Time Delivery Incentive | Company delivery goal | $2,000 | $1,000 | $2,500 |
| Stock-Related Incentive | Company stock-related goal | $2,145 | $3,465 | $3,713 |
- Adjusted net income definition: actual pretax net income plus certain expenses including non-cash compensation .
- Pay-versus-performance context: Net income ($000) was $1,957 (2022), $2,194 (2023), $1,861 (2024); TSR proxy values $(13.37), $25.00, $13.86 .
Equity Ownership & Alignment
| Ownership Detail | As of Apr 23, 2024 | As of Apr 28, 2025 |
|---|---|---|
| Beneficially Owned Shares | 44,685 | 43,622 |
| Ownership % of Outstanding | 1.0% | 1.0% |
| Options – Exercisable | 4,982 at $1.25, exp 05/14/2028 | None outstanding at 12/31/2024 for officers (per YE awards table) |
| Pledging/Hedging | Not disclosed | Not disclosed |
- Option vesting and terms: Options granted May 15, 2018 vest in five equal annual installments beginning May 15, 2019; exercise price $1.25; expiration 05/14/2028 .
- Plan status: The 2011 Stock Incentive Plan expired in 2021; as of Apr 28, 2025, 5,945 options remain outstanding under the plan in aggregate (weighted avg exercise price $1.25), but officers had no outstanding equity awards at YE 2024 .
Employment Terms
- Officers are elected annually by the Board and serve at its discretion; no CFO-specific employment contract, severance, change-of-control, non-compete, or clawback terms are disclosed in the proxy .
- CEO employment agreement is disclosed (for context), but no parallel CFO agreement is provided .
Compensation Structure Analysis
- Mix shift: Salary increased from $202.5k (2022) to $224.4k (2024), while annual incentive tied to adjusted net income remained formulaic (2.5%), producing $72.7k (2022), $79.7k (2023), $72.1k (2024); equity grants are modest and options appear exercised/closed by YE 2024 for officers .
- Equity risk: With no outstanding officer equity awards at YE 2024 and small stock awards, near-term insider selling pressure from vesting appears limited; the historical option strike of $1.25 suggests prior in-the-money potential, but those specific officer awards were not outstanding by YE 2024 .
- Governance signal: Say-on-pay received ~98% approval in 2022, indicating investor acceptance of the pay design; Board recommends triennial say-on-pay frequency in 2025 .
Board Governance (Context)
- Audit Committee: Gilliam (Chair), Ungar, Wickersham; meets ~4 times/year; Committee members deemed independent and financially literate .
- Related party disclosure: CEO Jeremiah Young’s father-in-law (John Gilliam) serves as Director; legal services provided by a firm where Chair Laura Shunk is a shareholder .
Risk Indicators & Red Flags
- Section 16 compliance: All reporting persons complied for 2024 .
- Pledging/hedging policy: Purchase/sale policy noted; pledging/hedging specifics not disclosed .
- Officer equity overhang: None outstanding for officers at YE 2024, reducing forced-sale risk from upcoming vesting .
- Related party ties: Noted familial relationship between CEO and Director; monitor for independence in compensation decisions .
Say‑on‑Pay & Shareholder Feedback
- Say‑on‑Pay support: ~98% approval in 2022 .
- 2025 Proxy: Advisory vote on executive compensation and recommendation for a 3‑year frequency .
Expertise & Qualifications
- Education: B.S. Accounting, Central Michigan University; passed CPA exam in Ohio .
- Experience: Controller and plant management roles prior to SCI, combining finance and operations exposure .
Investment Implications
- Alignment: Blaskie’s cash incentive formula (2.5% of adjusted net income) ties pay directly to profitability, reinforcing cost discipline and margin focus; minimal outstanding equity reduces near-term selling pressure from vesting events .
- Retention: >19 years senior finance tenure at SCI suggests low transition risk; absence of disclosed CFO severance/change-of-control economics could indicate limited guaranteed protections but also reduces potential parachute costs .
- Governance: High say‑on‑pay support and formal committee oversight support compensation credibility; monitor related‑party dynamic involving CEO/Director and any evolving ownership concentration among principals .