Erin Pawlish
About Erin Pawlish
Erin Pawlish is Treasurer of Standard Motor Products (SMP), serving in this role since 2015; previously she was SMP’s Financial Director (2013–2015) and a Senior Manager at KPMG LLP (1998–2012). She holds a B.B.A. from Pace University and is a Certified Public Accountant; age 49 as of the 2025 proxy . Company performance during her tenure includes 2024 net sales of $1,463.8 million vs. $1,358.3 million in 2023 and diluted EPS of $2.41 in 2024 vs. $2.85 in 2023; SMP’s cumulative TSR from a $100 base (12/31/2019) was $81.80 in 2023 (vs. $69.31 in 2022 and $101.61 in 2021), indicating mixed multi-year equity returns .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Standard Motor Products | Treasurer | 2015–present | Not disclosed |
| Standard Motor Products | Financial Director | 2013–2015 | Not disclosed |
| KPMG LLP | Senior Manager | 1998–2012 | Not disclosed |
Fixed Compensation
- No individual salary or cash bonus figures for Ms. Pawlish are disclosed in SMP’s proxies (she is not a named executive officer). SMP’s executive program reviews base salaries annually based on performance, peer benchmarks, responsibilities, and internal equity .
- Stock Ownership Guidelines for executive officers require “other executive officers” (a category that includes roles like Treasurer) to hold Company stock equal to 30% of base salary, with a mandatory two-year post-vesting holding period on most vested shares; hedging and pledging of Company stock are expressly prohibited for all officers .
Performance Compensation
| Component | Metric | Weighting | Target Framework | Actual Payout (FY 2024) | Vesting/Timing |
|---|---|---|---|---|---|
| Annual Cash Incentive – Company Performance | Adjusted EPS YoY improvement | 75% of the 70% company portion | Pre-set ranges (cap at 200% of target; excess carryforward at risk) | Achieved 142.4% of target for company portion | Annual cash award |
| Annual Cash Incentive – Company Performance | Adjusted Free Cash Flow Conversion | 25% of the 70% company portion | As above | Included in 142.4% result above | Annual cash award |
| Annual Cash Incentive – MBOs | Strategic MBOs (market growth, ops improvement, sustainability/culture/engagement, tech readiness) | 30% of total cash incentive | Committee assessment with CEO input | Achieved 98.6% of target for MBO portion | Annual cash award |
| Performance Share Awards (2024 cycle) | Average ROIC (3-year) | 67% | Threshold → Target → Max; pays 0–200% of target | In progress (2024–2026 cycle) | 3-year performance period; cliff vest at end |
| Performance Share Awards (2024 cycle) | Average Organic Sales Growth (3-year) | 33% | As above | In progress (2024–2026 cycle) | 3-year performance period; cliff vest at end |
Note: SMP’s annual incentive design and long-term equity framework apply to “executive officers” broadly, which encompasses roles like Treasurer; individual award sizes for Ms. Pawlish are not disclosed .
Equity Ownership & Alignment
- Ownership and pledging: Executive officers are prohibited from hedging or pledging Company stock; mandatory two-year post-vesting holding period applies to most vested shares under the Stock Ownership Guidelines .
- Restricted stock vesting: Standard restricted stock awards vest on a three-year cliff; long-term retention awards vest incrementally at ages 60 (25%), 63 (25%), and 65 (balance), with accelerated vesting on death, certain retirements, disability, or change of control per plan rules .
- Equity usage discipline: SMP’s burn rate over 2022–2024 averaged ~1.1–1.2%; potential dilution (equity outstanding plus remaining authorization) was ~8.01% as of the 2025 record date, reflecting a measured approach to equity compensation .
| Burn Rate Information | 2022 | 2023 | 2024 |
|---|---|---|---|
| Restricted Stock Granted (shares) | 179,825 | 165,125 | 199,510 |
| Performance Shares Earned & Vested (shares) | 73,317 | 76,887 | 30,753 |
| Total Equity Awards (shares) | 253,142 | 242,012 | 230,263 |
| Weighted Avg Common Shares Outstanding (Basic) | 21,683,719 | 21,716,177 | 21,801,141 |
| Burn Rate (%) | 1.2% | 1.1% | 1.1% |
Employment Terms
- Individual contracts: SMP discloses a severance/change-in-control agreement only for the Chief Operating Officer; neither the CEO nor other executive officers are party to severance/change-in-control agreements, implying Ms. Pawlish has no individual severance agreement .
- Plan-based protections: Under the Omnibus Incentive Plans, unvested restricted stock and performance awards may vest/accelerate on specified events, including change of control; SERP accounts become fully vested and funded via rabbi trust upon change of control .
- Clawback: Incentive-based compensation for current and former executive officers is subject to clawback in the event of a restatement stemming from material noncompliance with reporting requirements (three-year lookback per NYSE Rule 10D-1) .
Investment Implications
- Alignment: Strong ownership requirements (30% of base for other executive officers), mandatory post-vest holding, and explicit prohibitions on hedging/pledging support long-term alignment and reduce agency risk for roles like Treasurer .
- Limited parachute exposure: Absence of an individual severance/change-in-control agreement for the Treasurer constrains payout optionality and reduces adverse change-in-control economics, while plan-based vesting accelerations remain a standard benefit .
- Performance pay levers: Near-term cash incentives are tied 70% to company metrics (Adjusted EPS and free cash flow conversion in 2024) and 30% to strategy-linked MBOs, yielding disciplined, diversified performance linkage; 2024 company portion paid at 142.4% and MBOs at 98.6% of target .
- Data gaps to monitor: Individual grant sizes, beneficial ownership levels, and Form 4 trading activity for Ms. Pawlish are not disclosed in proxies; monitor insider filings and any Item 5.02 8-Ks for retention risk or selling pressure signals. SMP’s say-on-pay support remains robust (99% approval in 2024 and prior years), indicating broad investor acceptance of overall pay design .