Stash Ptak
SIGNET JEWELERSAbout Stash Ptak
Stash Ptak is Signet’s Chief Legal, Compliance and Risk Officer; he has overseen legal, governance, compliance, enterprise risk management and asset protection functions since June 2019. He joined Signet in 2005, transitioned to the legal team in 2012, and is age 46 per the company’s 2025 proxy . Company performance context during his tenure: FY2025 net income was $61.2 million, Comparable Sales were -3.4%, and cumulative TSR since Feb 1, 2020 equated to $256.67 on a $100 base versus $209.03 for the S&P 500 Specialty Retail peer index .
| Metric | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Company TSR (based on $100) | $168.34 | $356.56 | $320.87 | $428.34 | $256.67 |
| Peer TSR (based on $100) | $119.68 | $158.94 | $153.74 | $176.81 | $209.03 |
| Net Income (Loss) | ($15.2m) | $769.9m | $376.7m | $810.4m | $61.2m |
| Comparable Sales (%) | 9.9% | 48.0% | 6.1% | (11.6%) | (3.4%) |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Signet Jewelers | Strategic and analytical roles (merchandise sales/margin optimization) | 2005–2012 | Supported optimization of merchandise sales and margins . |
| Signet Jewelers | Legal team – commercial and real estate matters | 2012–2019 | Provided legal counsel on commercial and real estate topics . |
| Signet Jewelers | General Counsel & SVP Legal, Compliance & Risk | Jun 2019–2024 | Led legal, governance, compliance, ERM and asset protection . |
| Signet Jewelers | Chief Legal, Compliance & Risk Officer | 2024–present | Continues oversight of legal, compliance, risk and asset protection . |
External Roles
Proxy bios for Ptak do not list external directorships or other public company roles; no such roles are disclosed in the Executive Officers section of the 2024 and 2025 proxies .
Fixed Compensation
Not disclosed. Ptak is not a Named Executive Officer (NEO) and therefore does not appear in the Summary Compensation Table for FY2023–FY2025 .
Performance Compensation
Company incentive design (applies to executive officers; Ptak-specific targets/payouts are not disclosed):
- STIP: Corporate and, where applicable, business-unit performance goals; the company-selected measure for “Pay Versus Performance” disclosure is Comparable Sales .
- LTIP PSUs: Three-year performance cycles; vesting on the third anniversary subject to cumulative LTIP Revenue and LTIP Free Cash Flow achievement (50% threshold, 200% max) and service requirements .
- LTIP RSUs: Time-based, generally vest one-third per year over three years, subject to service; retirement eligibility can allow continued vesting .
- Equity award timing: Grants occur in open trading windows post annual earnings release; the committee does not time awards around MNPI and enforces blackout timing protocols .
- Pay mix context: Variable pay comprises 87% of CEO target annualized compensation (61% at-risk, 26% time-vested); for other NEOs, variable pay averages 75% (55% at-risk, 20% time-vested) .
| Component | Metric(s) | Target/Payout Mechanics | Vesting |
|---|---|---|---|
| STIP (cash) | Comparable Sales, corporate and business-unit goals | Payout tied to audited financial results; max payout limits in place . | Annual (earned each fiscal year) . |
| PSUs | Cumulative Revenue and Free Cash Flow (FY2025–FY2027) | 50% threshold; 100% target; 200% max; forfeiture if below threshold . | Vest at 3rd anniversary, subject to performance & service . |
| RSUs | Service | Time-based; no dividend equivalents pre-vesting . | 1/3 per year over 3 years . |
Equity Ownership & Alignment
- Ownership guidelines: NEO multiples are 6x (CEO), 5x (former CEO), and 3x (other NEOs); executives must hold 50% of net after-tax shares received until required holdings are met. The company reports all NEOs except the new CEO met guidelines as of the proxy; the CEO is restricted from selling until compliant .
- Anti-hedging/pledging: The company strictly prohibits hedging, short sales, monetization transactions, pledging, or holding shares in margin accounts by officers and directors .
- Beneficial ownership table context: In 2025, no Common Shares were reported as pledged in the “Ownership by Directors and Executive Officers” table; holdings listed are directly owned. Ptak is not enumerated in that table .
- Section 16 compliance: One late Form 4 for Ptak in Fiscal 2024 due to untimely broker notice of a reportable gift; the company notes filings were otherwise timely .
Employment Terms
Company agreements for NEOs (Ptak-specific agreement terms are not disclosed):
- Non-compete and non-solicit: All NEO termination protection agreements include a 12‑month non-compete and a 12–24 month non-solicit; violations cease severance and may trigger injunctive relief and damages .
- Severance (without cause): For NEOs, 1.5x base salary for 12 months, annual bonus (based on actual performance), prorated or continued vesting per award terms, and employer COBRA contribution for 12 months .
- Change-in-control (double-trigger): For NEOs, 1.5x base salary + target bonus (lump sum), prorated annual bonus based on actual performance, and equity treated per LTIP/award agreement; cash COBRA contribution for 12 months .
- Governance features: Double-trigger vesting under change-in-control, clawback policy compliant with listing standards, independent compensation consultant, no excise tax gross-ups, and prohibition of hedging/pledging .
Investment Implications
- Alignment and selling pressure: Strict anti-hedging/pledging policy and ownership build requirements reduce misalignment risk and constrain discretionary selling until guidelines are met .
- Visibility into incentives: Company-level targets emphasize Comparable Sales, Revenue, and Free Cash Flow, aligning executive incentives to top-line momentum and cash generation; Ptak’s individual targets/payouts are not disclosed, limiting pay-for-performance analysis precision .
- Insider activity signal: The only disclosed item for Ptak is a late Form 4 for a gift, attributable to untimely broker notice; no pattern of insider selling is indicated in proxy disclosures reviewed .
- Retention risk: NEO agreements feature non-compete/non-solicit covenants and meaningful double-trigger protections; while Ptak’s specific terms are not disclosed, the company’s posture suggests strong retention mechanisms across senior executives .
- Role-critical execution: Ptak’s longstanding oversight of legal, compliance, and enterprise risk since 2019 places him at the center of governance and risk management—key to sustaining execution quality amid evolving macro and competitive dynamics .