Mark Hyde
About Mark Hyde
Mark Hyde, 51, is Chief Financial Officer (CFO) of South Dakota Soybean Processors, LLC and has served in this role since November 1, 2010. He holds a B.S. in Business Administration from the University of South Dakota and a Masters of Accounting from the University of Denver; he is a CPA responsible for all financial, accounting, and reporting obligations of the Company . Company performance context over the last three fiscal years is shown below.
Company Performance (context)
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($USD) | $721,532,329 | $703,148,409 | $554,419,770 |
| EBITDA ($USD) | $73,309,242* | $77,762,743* | $29,856,202* |
| Net Income ($USD) | $67,464,101 | $70,449,578 | $20,319,817 |
- Values retrieved from S&P Global.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| South Dakota Soybean Processors, LLC | Corporate Controller | 2003–2010 | Built finance and reporting infrastructure ahead of CFO tenure |
| South Dakota Soybean Processors, LLC | Chief Financial Officer | 2010–Present | Leads financial, accounting, reporting; signatory on financing agreements |
| Eide Bailly LLP | Senior Associate | Pre-2003 | Public accounting experience supporting controls and audit rigor |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Eide Bailly LLP | Senior Associate | Pre-2003 | External audit/accounting background; enhances CFO technical proficiency |
Fixed Compensation
| Component | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary ($) | $171,250 | $190,000 | $208,333 |
| All Other Compensation ($) | $7,307 | $10,348 | $11,097 |
- Perquisites: The CEO and CFO do not receive perquisites; any personal use of benefits would be imputed as income and taxed .
- Compensation elements for executives comprise base salary, incentive cash bonuses, deferred compensation bonuses, and other personal benefits .
Performance Compensation
Annual Cash Bonus Structure and Outcomes
- Bonus pool is funded only if profitable; formula: [Consolidated Net Income − $2,000,000] × 4.7%. Eligibility and allocation consider salary level, responsibility, and impact on profits .
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Company Net Income used for pool ($) | $71.06M | $76.91M | $20.5M |
| Mark Hyde Bonus Paid ($) | $130,021 | $143,584 | $32,631 |
| Vesting | N/A (cash) | N/A (cash) | N/A (cash) |
Deferred Compensation Plan
- Awards sized to long-term objectives with metrics set annually by CEO and Board; vesting ratably over eight years at 12.5% per year; funds held in a Company-owned Rabbi Trust with investment direction at the executive’s discretion; payout occurs post-separation or per initial award election .
| Item | 2022 | 2023 | 2024 |
|---|---|---|---|
| Mark Hyde Deferred Compensation Award ($) | $47,500 | $57,000 | $52,500 |
| Vesting Schedule | 12.5% per year over 8 years | 12.5% per year over 8 years | 12.5% per year over 8 years |
| Plan Features | Rabbi Trust; payout post-separation or per election | Rabbi Trust; payout post-separation or per election | Rabbi Trust; payout post-separation or per election |
Equity Ownership & Alignment
| As-of Date | Capital Units Beneficially Owned | Ownership % | Pledged as Collateral |
|---|---|---|---|
| May 1, 2021 | — | — | Not disclosed |
| May 1, 2022 | — | — | Not disclosed |
| May 1, 2023 | — | — | Not disclosed |
| May 1, 2025 | — | — | Not disclosed |
- No stock awards (RSUs/PSUs) or options are disclosed for executives; Stock Awards: None .
- Managers and executive officers as a group owned 156,500 units (0.5%) as of May 1, 2025, underscoring limited aggregate insider equity ownership .
Employment Terms
| Term | Detail |
|---|---|
| Employment Agreement Date | March 21, 2017 |
| Base Salary (initial under agreement) | $124,000, subject to annual CEO review |
| Severance | If terminated for various reasons, payment equal to base salary for the lesser of months equal to years employed or 24 months; none if voluntary resignation or for cause |
| Change-in-Control | Employment agreement contains benefits related to termination and change in control (specific terms not detailed) |
| Non-Compete | During the term and for 1 year post-termination in North America |
| Non-Solicit/Confidentiality | 1 year post-termination restrictions on interference and solicitation; confidentiality restrictions apply |
| Clawback Policy | Not disclosed in the reviewed proxy statements |
Potential Payments upon Dismissal (without cause)
| As-of Date | CFO Estimated Benefits ($) |
|---|---|
| Dec 31, 2020 | $235,000 |
| Dec 31, 2021 | $256,000 |
| Dec 31, 2022 | $355,000 |
| Dec 31, 2023 | $529,000 |
| Dec 31, 2024 | $616,000 |
- CFO continues to be the Company’s signatory for financing agreements; e.g., May 29, 2025 8-K extending CoBank debt maturity, signed by Mark Hyde .
Investment Implications
- Pay-for-performance alignment: Annual bonuses scale directly with consolidated net income, and deferred compensation is explicitly tied to long-term objectives set annually—both mechanisms link cash and long-term awards to company results .
- Retention risk: Eight-year vesting on deferred comp (12.5% per year) plus severance up to 24 months of base salary if terminated without cause provide meaningful retention hooks and downside protection, reducing voluntary departure risk .
- Equity alignment: No stock awards and no disclosed personal unit ownership for the CFO may weaken “skin-in-the-game” alignment versus typical public-company equity programs; however, SDSYA’s structure and proxy disclosures indicate limited insider equity stakes broadly (group ownership 0.5%) .
- Trading signals and selling pressure: Absence of equity grants (RSUs/PSUs/options) and no disclosed pledging reduce forced-selling or vest-related supply overhang; performance cash and deferred comp dominate incentives, limiting equity-related selling pressure .
- Governance and process: Compensation decisions are overseen by the governance committee (acting as compensation committee) with CEO input for executives; CEO not present during his own comp deliberations—structure supports independent oversight of pay processes .