Timothy Burkhardt
About Timothy Burkhardt
Timothy Burkhardt, age 53, is Vice President and Controller of Champion Homes, Inc. (NYSE: SKY), serving since June 1, 2018; he is a licensed CPA with a B.A. and M.B.A. in Accounting from Michigan State University . Over his tenure, SKY’s company-level performance has been strong: FY2025 revenue was $2.483B with EBITDA of $287.6M, reflecting YoY growth of ~22.7% and ~36.9% versus FY2024, respectively; cumulative TSR from a 2020 base reached $604 per $100 by FY2025 *.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Champion Homes, Inc. | Vice President & Controller | 2018–Present | Corporate controller oversight, financial reporting, controls |
| Champion Holdings & Champion Home Builders (CHB) | Vice President & Controller | 2016–2018 | Consolidation, reporting, preparation for public company rigor |
| Champion Holdings | Director of Financial Reporting | 2012–2016 | External reporting leadership and policy |
Equity Ownership & Alignment
| Metric | 2023 | 2025 |
|---|---|---|
| Beneficial ownership (shares) | 37,510 | 36,167 |
| Shares outstanding | N/D | 57,282,557 |
| Ownership % of outstanding | N/D | ~0.063% (36,167 ÷ 57,282,557) |
| Section 16 compliance status | Officer subject to Section 16; one delinquent Form 4 filed Mar 26, 2025 | Officer subject to Section 16; one delinquent Form 4 filed Mar 26, 2025 |
| Stock ownership guidelines | Section 16 officers required to hold ≥1x base salary; company disclosed all Section 16 officers were in compliance as of Mar 29, 2025 | Section 16 officers required to hold ≥1x base salary; compliant as of Mar 29, 2025 |
| Pledging/Hedging policy | Company prohibits pledging and margin accounts; hedging allowed only within trading windows with pre-clearance | Company prohibits pledging and margin accounts; hedging allowed only within trading windows with pre-clearance |
Employment Terms
- Separation Allowance Plan: Applies broadly to eligible participants with ≥12 months of service; provides management-discretionary severance based on position and years of service (guideline: 2 weeks per year; min 12 weeks; max 39 weeks), plus suggested outplacement; excludes executives with individual separation agreements .
- Clawback policy: Company-wide compensation recoupment policy aligned to SEC rules; covers performance-based compensation for 3 prior fiscal years in event of financial restatement .
- Insider Trading Policy: Prohibits pledging/margin accounts; requires public disclosure and pre-clearance for hedging/derivatives .
Company Performance Context
| Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Revenues (USD) | 2,606,560,000 [FY 2023]* | 2,024,823,000 [FY 2024]* | 2,483,448,000 [FY 2025]* |
| EBITDA (USD) | 545,011,000 [FY 2023]* | 210,115,000* | 287,562,000* |
- FY2025 YoY revenue growth vs FY2024: ~22.7% (2.483B vs 2.025B)*
- FY2025 YoY EBITDA growth vs FY2024: ~36.9% (288M vs 210M)*
Values retrieved from S&P Global.*
Additional FY2025 highlights disclosed: Net income $198M, EPS $3.42, gross margin 26.7% .
Compensation Structure & Incentives (Program-Level)
- Annual bonus framework for executives: 50% Consolidated EPS and 50% Consolidated Revenue; payouts from 0–200% of target with straight-line interpolation across thresholds; FY2025 actuals measured at EPS $3.56 and Revenue $2,483M for plan achievement .
- Long-term equity awards (executive program): PSUs (60% rTSR vs peer group; 40% Single Family Home Completion Market Share) and RSUs; PSUs cliff-vest after 3 years with 0–200% payout; certain change-in-control and termination provisions apply; RSUs vest in 3 annual tranches with updated CIC rules effective Aug 1, 2024 .
- Stock ownership guidelines: CEO 3x salary; CFO 1.5x; Section 16 officers 1x; directors 3x annual cash retainer; Company disclosed compliance as of Mar 29, 2025 (new director has 3 years) .
Risk Indicators & Red Flags
- Section 16 reporting: One delinquent Form 4 for Burkhardt filed March 26, 2025; company disclosed certain delinquent Section 16 filings for various insiders in FY2025 .
- Pledging: Prohibited under Insider Trading Policy (reduces alignment risk) .
- Clawback: Enhanced recoupment policy aligned with SEC rules mitigates pay-for-performance misalignment risk .
Investment Implications
- Alignment: Burkhardt holds a meaningful share position for a non-NEO officer and, per company disclosure, is compliant with ownership guidelines, while pledging is prohibited—reducing misalignment risk .
- Incentive levers: Although his individual pay elements are not disclosed, company-wide executive incentives tie strongly to EPS/Revenue and multi-year rTSR/SFHC market share, which historically supported double-digit FY2025 top-line and EBITDA recovery; continued compliance and clawbacks reduce governance risk .
- Retention/trading pressure: RSU/PSU program-level structures can create periodic vesting-related selling by executives; absence of pledging lowers forced-sale risk; Section 16 delinquency is minor but worth monitoring for process discipline .
- Execution context: FY2025 rebound and robust TSR since 2020 indicate value creation momentum; monitor sustainability of EPS/Revenue drivers vs housing cycle sensitivity embedded in incentive metrics .